Overview
What is Supplemental Unemployment Benefit Plan For Employees Of Cold Spring Const Co?
The Supplemental Unemployment Benefit Plan for Employees of Cold Spring Construction Company is a program designed to supplement state unemployment benefits for its covered employees during periods of layoff. This plan operates under strict guidelines, ensuring that trust funds are not utilized for administrative costs exceeding the trust earnings in the specific year. In the event of excess administrative costs, the employer is responsible for reimbursement. The primary goal of this plan is not to replace or duplicate state unemployment benefits but to provide additional support during challenging times. The company, with a workforce of 38 employees, offers this plan to its employees in Akron, New York.
Is Supplemental Unemployment Benefit Plan For Employees Of Cold Spring Const Co legitimate?
Supplemental Unemployment Benefit Plan For Employees Of Cold Spring Const Co is a legitimate nonprofit organization registered as a 501(c)(17) entity. Supplemental Unemployment Benefit Plan For Employees Of Cold Spring Const Co 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
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What is the mission statement of Supplemental Unemployment Benefit Plan For Employees Of Cold Spring Const Co?
The Supplemental Unemployment Benefit Plan for Employees of Cold Spring Construction Company's mission is to supplement the state unemployment benefits for its covered employees during layoffs. This plan aims to provide additional financial support, without replacing or duplicating the existing benefits. The plan operates under the condition that trust funds are not used to cover administrative costs exceeding trust earnings in the relevant plan year. In cases where administrative costs surpass trust earnings, these excess costs are reimbursed by the employer.
Who is the CEO of Supplemental Unemployment Benefit Plan For Employees Of Cold Spring Const Co?
Richard E Forrestel Jr is the Trustee of Supplemental Unemployment Benefit Plan For Employees Of Cold Spring Const Co.
What is the revenue of Supplemental Unemployment Benefit Plan For Employees Of Cold Spring Const Co?
Supplemental Unemployment Benefit Plan For Employees Of Cold Spring Const Co's revenue in 2023 was $961,656.
Who are the executives of Supplemental Unemployment Benefit Plan For Employees Of Cold Spring Const Co and what are their salaries?
There are 38 employees at Supplemental Unemployment Benefit Plan For Employees Of Cold Spring Const Co.
Here are 2 key members and their salaries:
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- Related: $0
- Other: $0
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Where can I find the form 990 for Supplemental Unemployment Benefit Plan For Employees Of Cold Spring Const Co?
Supplemental Unemployment Benefit Plan For Employees Of Cold Spring Const Co's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Supplemental Unemployment Benefit Plan For Employees Of Cold Spring Const Co
The Supplemental Unemployment Benefit Plan for Employees of Cold Spring Construction Company, abbreviated as SUB Plan, aims to supplement the state unemployment benefits for its covered employees during periods of layoff. This plan does not aim to replace or duplicate the state benefits but instead serves as an additional source of financial support during times of employment interruption. The SUB Plan is designed in such a way that it will not utilize trust funds to cover administrative costs exceeding the trust earnings during the plan year in which the costs are incurred. In case of any excess administrative costs, these are reimbursed by the employer.
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Impact
October, 2024
The Supplemental Unemployment Benefit Plan for Employees of Cold Spring Construction Company is designed to enhance the financial security of covered employees during layoffs by supplementing state unemployment benefits. This plan ensures that employees receive additional support while they are temporarily unable to work, which can alleviate the financial strain that often accompanies job loss.
The plan operates under the principle that it should not replace or duplicate state unemployment benefits; rather, it provides essential supplementary income to help employees maintain a more stable financial situation. By offering this support, the plan can help reduce employee stress during periods of unemployment and improve overall morale.
Additionally, the plan includes provisions that restrict the use of trust funds, ensuring that administrative costs do not exceed trust earnings in a given year. This structure encourages efficient management of funds and ensures that the majority of resources are directed toward the employees' benefits rather than administrative expenses.
Overall, the Supplemental Unemployment Benefit Plan plays a vital role in supporting the workforce of Cold Spring Construction Company, fostering a sense of security and well-being among employees during challenging times.
This information is meant to be a general summary of Supplemental Unemployment Benefit Plan For Employees Of Cold Spring Const Co. 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.
- Program Service Revenue: $961,656
- Gross Receipts: $961,656
Assets and Liabilities:
- Total Assets: $2,017
- Total Liabilities: $1,008
- Net Assets: $1,009
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SUPPLEMENTAL UNEMPLOYM
Revenue
$961,656
Organization Details
Founding Year
1999
Phone
(716) 542-2011Principal Officer
Richard E Forrestel Jr
Main Address
PO BOX 358 43 JACKSON STREET, AKRON, NY, 14001
NTEE Category
Code: Y24 - Mutual benefit
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