Overview
What is Hospitalization Trust Fund Of The Electrical Manufacturing Industry?
The Hospitalization Trust Fund of the Electrical Manufacturing Industry is a nonprofit organization dedicated to collecting and investing funds from electrical and independent employers. These contributions are used to provide medical and other benefits to eligible participants, as outlined in a collective bargaining agreement between Local Union No. 3 of the International Brotherhood of Electrical Workers, AFL-CIO, and the employers. Based in Flushing, New York, the organization's primary mission is to ensure the wellbeing of those in the electrical manufacturing industry by managing and distributing these benefits.
Official website here: www.jibei.org
Is Hospitalization Trust Fund Of The Electrical Manufacturing Industry legitimate?
Hospitalization Trust Fund Of The Electrical Manufacturing Industry is a legitimate nonprofit organization registered as a 501(c)(9) entity. Hospitalization Trust Fund Of The Electrical Manufacturing Industry 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.
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Official website here: www.jibei.org
What is the mission statement of Hospitalization Trust Fund Of The Electrical Manufacturing Industry?
The Hospitalization Trust Fund of the Electrical Manufacturing Industry serves as a vital entity for the provision of medical benefits to members under a collective bargaining agreement between Local Union No. 3 of the International Brotherhood of Electrical Workers, AFL-CIO, and electrical and independent employers. Through this agreement, the Fund collects and invests funds to ensure the delivery of essential medical and related benefits to those it serves. Its primary mission lies in the administration of these benefits, using the resources generated from the collaboration between the union and the employers.
Official website here: www.jibei.org
What is the revenue of Hospitalization Trust Fund Of The Electrical Manufacturing Industry?
Hospitalization Trust Fund Of The Electrical Manufacturing Industry's revenue in 2023 was $24,951,595.
Official website here: www.jibei.org
Who are the executives of Hospitalization Trust Fund Of The Electrical Manufacturing Industry and what are their salaries?
There 13 volunteers at Hospitalization Trust Fund Of The Electrical Manufacturing Industry.
Here are 14 key members and their salaries:
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Official website here: www.jibei.org
Where can I find the form 990 for Hospitalization Trust Fund Of The Electrical Manufacturing Industry?
Hospitalization Trust Fund Of The Electrical Manufacturing Industry's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.jibei.org
Learn more at the official website: www.jibei.org
Mission Statement of Hospitalization Trust Fund Of The Electrical Manufacturing Industry
The Hospitalization Trust Fund of the Electrical Manufacturing Industry, commonly known as HTF, is a unique organization dedicated to the collection and investment of funds from electrical and independent employers. This nonprofit body operates under the umbrella of a collective bargaining agreement between Local Union No. 3 of the International Brotherhood of Electrical Workers, AFL-CIO (Local 3) and the aforementioned employers.
The primary objective of HTF is to provide essential medical and additional benefits to the workforce covered under this agreement. In essence, the Trust Fund serves as a vital safety net, ensuring that eligible employees and their families receive comprehensive coverage according to the stipulations of the labor contract. This commitment to worker wellbeing is a testament to the cooperative spirit that thrives between Local 3 and the electrical and independent employers.
In carrying out its mission, the Hospitalization Trust Fund of the Electrical Manufacturing Industry meticulously gathers and invests the funds it receives. The organization's diligent efforts in managing its resources enable it to offer a range of benefits, tailored to the needs of its beneficiaries. By standing firm to the terms of its collective bargaining agreement, the Trust Fund demonstrates its unwavering dedication to the workforce it serves.
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Impact
October, 2024
The Hospitalization Trust Fund of the Electrical Manufacturing Industry plays a crucial role in ensuring that employees within the electrical and manufacturing sectors have access to necessary medical and other benefits. By collecting and investing funds from electrical and independent employers, the Trust Fund effectively manages resources to provide comprehensive health care coverage to eligible participants.
This initiative is implemented under the terms of a collective bargaining agreement involving Local Union No. 3 of the International Brotherhood of Electrical Workers, AFL-CIO, and various employers in the industry. The Trust Fund's primary impact lies in its ability to provide financial security and health benefits, which can alleviate the burden of medical expenses for workers and their families.
In addition, the Fund contributes to the overall well-being of the workforce, fostering a healthier, more productive labor pool. By prioritizing the health and welfare of employees, the Hospitalization Trust Fund helps to maintain high morale within the workforce, ultimately benefiting employers through increased job satisfaction and productivity. This collective approach supports both employees and employers by creating a mutually beneficial environment that addresses health care needs in the electrical manufacturing industry.
This information is meant to be a general summary of Hospitalization Trust Fund Of The Electrical Manufacturing Industry. 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 2023.
- Investment Income: $404,886
- Program Service Revenue: $24,672,858
- Gross Receipts: $32,737,388
Assets and Liabilities:
- Total Assets: $10,600,010
- Total Liabilities: $2,938,644
- Net Assets: $7,661,366
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
EMPLOYER'S CONTRIBUTIONS
Revenue
$24,599,197
EMPLOYEES' CONTRIBUTIONS
Revenue
$73,661
Organization Details
Founding Year
1984
Principal Officer
Christopher Erikson
Website
www.jibei.orgNTEE Category
Code: Y40 - Mutual benefit
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