Overview
What is Aramco Us Welfare Benefit Plan Trust?
Aramco Us Welfare Benefit Plan Trust is a nonprofit trust established in Houston, Texas, on January 1, 1994. Its primary purpose is to serve as a funding vehicle and hold assets for providing medical benefits to eligible employees and their dependents. The trust, intended to qualify as a Voluntary Employee Benefit Association (VEBA) under section 501(c)(9) of the Internal Revenue Code, aims to enhance the well-being of its members by offering comprehensive medical coverage.
Is Aramco Us Welfare Benefit Plan Trust legitimate?
Aramco Us Welfare Benefit Plan Trust is a legitimate nonprofit organization registered as a 501(c)(9) entity. Aramco Us Welfare Benefit Plan 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:
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What is the mission statement of Aramco Us Welfare Benefit Plan Trust?
The Aramco Us Welfare Benefit Plan Trust serves as a funding vehicle and holds assets for the provision of medical benefits to eligible employees and their dependents. This organization, established in 1994, intends to operate as a Voluntary Employee Benefit Association (VEBA) under section 501(c)(9) of the Internal Revenue Code. Its primary mission is to extend medical coverage to active employees and their dependents.
Who is the CEO of Aramco Us Welfare Benefit Plan Trust?
Richard Urban is the Managing Director of Aramco Us Welfare Benefit Plan Trust.
What is the revenue of Aramco Us Welfare Benefit Plan Trust?
Aramco Us Welfare Benefit Plan Trust's revenue in 2020 was $28,235,247.
Who are the executives of Aramco Us Welfare Benefit Plan Trust and what are their salaries?
Here are 5 key members and their salaries:
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Where can I find the form 990 for Aramco Us Welfare Benefit Plan Trust?
Aramco Us Welfare Benefit Plan Trust's most recent form 990 was submitted in 2020 and can be accessed here.
Mission Statement of Aramco Us Welfare Benefit Plan Trust
Aramco Us Welfare Benefit Plan Trust, a Voluntary Employee Benefit Association (VEBA), is dedicated to delivering medical benefits to its members, which include active employees and their eligible dependents. This organization was established in 1994 with the primary goal of serving as a funding vehicle for the provision of medical coverage under the Plan.
The Trust's mission is threefold: it aims to ensure the availability of comprehensive medical benefits for the covered individuals, manage the funding required to meet these obligations, and maintain its status as a VEBA under section 501(c)(9) of the Internal Revenue Code of 1986. By forming this trust, Aramco Us Welfare Benefit Plan Trust has taken a proactive approach to providing medical benefits to its valued staff and their families.
The Trust's purpose extends beyond merely holding assets; it also functions as a critical component in the administration of the medical benefits program. By serving as the funding vehicle, Aramco Us Welfare Benefit Plan Trust enables its members to access essential healthcare services, providing them with peace of mind and the ability to prioritize their well-being.
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Impact
October, 2024
The Aramco US Welfare Benefit Plan Trust plays a significant role in providing medical benefits to employees and their eligible dependents. Established on January 1, 1994, the trust was designed to serve as a funding vehicle for a benefit program aimed at delivering essential healthcare coverage. By operating as a Voluntary Employee Benefit Association (VEBA) under section 501(c)(9) of the Internal Revenue Code, the trust was able to efficiently manage and allocate resources for medical benefits.
Throughout its operation, the trust ensured that active employees and their dependents had access to necessary medical care, contributing to the overall well-being of the workforce. The trust's design allowed for the pooling of funds to cover medical expenses, which can be particularly beneficial in managing costs and providing comprehensive coverage for employees.
However, it is important to note that the trust was terminated as of December 31, 2020. This conclusion means that the funding and provision of medical benefits through this specific trust have ceased, potentially affecting the healthcare coverage for former members once the trust's resources have been fully utilized or transitioned. The legacy of the Aramco US Welfare Benefit Plan Trust highlights the importance of structured benefits programs in supporting employee health and welfare.
This information is meant to be a general summary of Aramco Us Welfare Benefit Plan 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 2020.
- Investment Income: $361
- Gross Receipts: $28,235,247
Assets and Liabilities:
- Total Assets: $0
- Total Liabilities: $0
- Net Assets: $0
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Organization Details
Founding Year
1994
Phone
(713) 432-4000Principal Officer
Richard Urban
Main Address
1200 Smith St 36th Floor AttnTax, Houston, TX, 770024313
NTEE Category
Code: Y40 - Mutual benefit
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