Overview
What is Columbia Univ Retiree Medical Life Ins Benefits Trust?
The Columbia Univ Retiree Medical Life Ins Benefits Trust is a nonprofit organization based in New York, NY, specifically at Columbia University's address on 615 W 131st Street. Its primary mission is to support Columbia University's medical and life insurance benefits for eligible retired employees. The trust accomplishes this by either self-funding claims or paying premiums to obtain insurance coverage for such claims. In essence, it ensures that retired Columbia University employees receive necessary medical and life insurance benefits.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79% (Three-Star out of Four Star rating)
Columbia University Retiree Medical Life Insurance Benefits Trust has achieved a three-star rating from Charity Navigator, highlighting a solid performance in accountability and finance. The overall score reflects a strong commitment to financial transparency, with a perfect score in several key areas, including financial statement audits and the absence of material diversion of assets.
The organization has established comprehensive policies related to conflict of interest, whistleblower protections, and document retention, demonstrating a robust governance framework. Additionally, the trust maintains a favorable liabilities to assets ratio, indicating sound financial health, and its program expense ratio is strong, suggesting that a significant portion of resources is directed towards fulfilling its mission.
While the rating is commendable, there is always room for improvement in communicating impact and program effectiveness, which could enhance the organization's overall rating in the future. Overall, the trust's financial practices and governance policies are commendable, ensuring accountability to its stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Columbia Univ Retiree Medical Life Ins Benefits Trust legitimate?
Columbia Univ Retiree Medical Life Ins Benefits Trust is a legitimate nonprofit organization registered as a 501(c)(3) entity. Columbia Univ Retiree Medical Life Ins Benefits Trust submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Columbia Univ Retiree Medical Life Ins Benefits Trust?
The Columbia University Retiree Medical Life Ins Benefits Trust focuses on supporting the medical and life insurance benefits for retired employees of Columbia University. Through self-funded claims or paying premiums for insurance coverage, the trust ensures eligible retirees receive essential health and life insurance benefits. By doing so, the trust enhances the wellbeing and financial security of retired Columbia University employees, upholding a commitment to their overall welfare post-employment.
Who is the CEO of Columbia Univ Retiree Medical Life Ins Benefits Trust?
Unavailable
What is the revenue of Columbia Univ Retiree Medical Life Ins Benefits Trust?
Columbia Univ Retiree Medical Life Ins Benefits Trust's revenue in 2022 was $17,105,958.
Who are the executives of Columbia Univ Retiree Medical Life Ins Benefits Trust and what are their salaries?
Here are 4 key members and their salaries:
- Compensation: $0
- Related: $850,431
- Other: $34,324
- Compensation: $0
- Related: $438,703
- Other: $47,909
- Compensation: $0
- Related: $565,243
- Other: $57,058
- Compensation: $0
- Related: $585,867
- Other: $49,858
Where can I find the form 990 for Columbia Univ Retiree Medical Life Ins Benefits Trust?
Columbia Univ Retiree Medical Life Ins Benefits Trust's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Columbia Univ Retiree Medical Life Ins Benefits Trust
Columbia Universtity Retiree Medical Life Ins Benefits Trust, referred to as the Trust, is dedicated to upholding the medical and life insurance benefits for eligible retired employees of Columbia University. The Trust's primary mission is to ensure these retirees have access to essential healthcare coverage.
To accomplish this mission, the Trust provides medical and life insurance benefits through a self-funded claims process. In situations where self-funding is not an option, the Trust pays premiums to secure insurance coverage for these claims. By taking on this responsibility, the Trust enables retired Columbia University employees to continue enjoying the medical and life insurance benefits they have earned during their employment.
In summary, the Columbia Univeristy Retiree Medical Life Ins Benefits Trust serves as a crucial safety net for retired employees of Columbia University. By managing the medical and life insurance benefits, the Trust ensures that these individuals can maintain peace of mind and focus on their well-being during their post-employment years.
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Impact
October, 2024
Columbia University Retiree Medical Life Insurance Benefits Trust plays a crucial role in providing medical and life insurance benefits to eligible retired employees of Columbia University. By facilitating access to these benefits, the Trust ensures that retirees have the necessary support for their healthcare needs, contributing to their overall well-being in retirement.
The Trust operates by covering self-funded claims and paying premiums for insurance coverage, which directly impacts the financial security of retirees. By maintaining this support system, it alleviates the potential burden of high medical costs, allowing former employees to focus on their quality of life rather than financial strain.
Additionally, the Trust fosters a sense of community and mutual benefit among retirees, reinforcing the value of their service to the university. Through its mission, the Trust upholds a commitment to honor the contributions of its retirees, ensuring they receive the essential medical and life insurance benefits they deserve.
This information is meant to be a general summary of Columbia Univ Retiree Medical Life Ins Benefits Trust. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $10,887,083
- Program Service Revenue: $6,218,875
- Gross Receipts: $46,680,610
Assets and Liabilities:
- Total Assets: $221,623,843
- Total Liabilities: $1,350,062
- Net Assets: $220,273,781
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RETIREE CONTRIBUTIONS
Revenue
$6,218,875
Organization Details
Founding Year
1994
Phone
(212) 851-7348Main Address
COLUMBIA UNIV 615 W 131 ST MC 8741, NEW YORK, NY, 100277922
NTEE Category
Code: Y110 - Mutual benefit
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