Overview
What is The Michaels Organization Voluntary Employee Benefit Trust?
The Michaels Organization Voluntary Employee Benefit Trust is a nonprofit entity based in Marlon, New Jersey, specifically located at 3 E Stow Road Suite 100. Its primary mission is to offer health, dental, vision, and life insurance coverage to all full-time employees of The Michaels Organization and their eligible dependents. This mission is accomplished through a combination of employee and employer contributions, purchases of insurance products, and effective plan administration. The Trust functions as a single-employer plan, aiming to enhance the well-being and financial security of its workforce.
Official website here: www.themichaelsorg.com
Is The Michaels Organization Voluntary Employee Benefit Trust legitimate?
The Michaels Organization Voluntary Employee Benefit Trust is a legitimate nonprofit organization registered as a 501(c)(9) entity. The Michaels Organization Voluntary Employee Benefit 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
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Official website here: www.themichaelsorg.com
What is the mission statement of The Michaels Organization Voluntary Employee Benefit Trust?
The Michaels Organization Voluntary Employee Benefit Trust is dedicated to offering health, dental, vision, and life insurance coverage to all full-time employees of The Michaels Organization. This mission is accomplished through a combination of employee and employer contributions to the trust fund, as well as the administration of insurance products. The Trust functions as a single-employer plan, providing essential benefits to eligible dependents of the employees. By ensuring access to these crucial insurance services, the Trust enhances the wellbeing and financial security of The Michaels Organization's workforce.
Official website here: www.themichaelsorg.com
Who is the CEO of The Michaels Organization Voluntary Employee Benefit Trust?
Mark Morgan is the Trustee of The Michaels Organization Voluntary Employee Benefit Trust.
Official website here: www.themichaelsorg.com
What is the revenue of The Michaels Organization Voluntary Employee Benefit Trust?
The Michaels Organization Voluntary Employee Benefit Trust's revenue in 2022 was $21,947,816.
Official website here: www.themichaelsorg.com
Who are the executives of The Michaels Organization Voluntary Employee Benefit Trust and what are their salaries?
Here are 3 key members and their salaries:
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Official website here: www.themichaelsorg.com
Where can I find the form 990 for The Michaels Organization Voluntary Employee Benefit Trust?
The Michaels Organization Voluntary Employee Benefit Trust's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.themichaelsorg.com
Learn more at the official website: www.themichaelsorg.com
Mission Statement of The Michaels Organization Voluntary Employee Benefit Trust
The Michaels Organization Voluntary Employee Benefit Trust, also known as the Trust, is a mission-driven entity that focuses on extending health, dental, vision, and life insurance benefits to the full-time workforce of The Michaels Organization and their eligible dependents. This organization's inception was marked by a collaborative effort between the employer and employees, with both parties contributing to the trust fund, procuring insurance products, and overseeing plan administration.
In essence, the Trust functions as an essential lifeline, ensuring that the employees of The Michaels Organization are shielded from the financial burdens that come with managing healthcare expenses. By providing these vital benefits, the organization enhances the well-being of its workforce, enabling them to maintain a healthy and balanced lifestyle both at home and in the workplace. Through this commitment, The Michaels Organization Voluntary Employee Benefit Trust fosters a strong sense of employee morale and dedication, which ultimately contributes to the overall success of the organization.
The Trust's operations are underpinned by its core belief in the importance of comprehensive healthcare coverage for all. By pooling resources and leveraging collective bargaining power, the Trust is able to procure competitive insurance plans that cater to the diverse needs of its members. In doing so, The Michaels Organization Voluntary Employee Benefit Trust extends a priceless benefit, offering peace of mind and financial security to its valued employees.
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Impact
October, 2024
The Michaels Organization Voluntary Employee Benefit Trust significantly enhances the wellbeing of full-time employees and their eligible dependents by providing essential health and welfare benefits. By offering a comprehensive package that includes health, dental, vision, and life insurance, the Trust ensures that employees have access to critical healthcare services and financial protection.
This initiative promotes a healthier workforce, which can lead to increased productivity, reduced absenteeism, and overall job satisfaction. Both employer and employee contributions to the trust fund help in maintaining the sustainability of these benefits, allowing the organization to effectively manage costs while providing valuable coverage. The structured plan administration further streamlines access to these benefits, making it easier for employees to understand and utilize their options.
Ultimately, the Trust not only fulfills a vital need for its members but also serves to strengthen the community within The Michaels Organization, fostering a culture of support and mutual benefit.
This information is meant to be a general summary of The Michaels Organization Voluntary Employee Benefit 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: $12,913
- Program Service Revenue: $21,934,171
- Gross Receipts: $21,947,816
Assets and Liabilities:
- Total Assets: $11,156,008
- Total Liabilities: $1,955,510
- Net Assets: $9,200,498
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
EMPLOYER CONTRIBUTIONS
Revenue
$16,905,084
EMPLOYEE CONTRIBUTIONS
Revenue
$5,029,087
Organization Details
Founding Year
1985
Phone
(856) 596-0500Principal Officer
Mark Morgan
Main Address
3 E Stow Road Suite 100, Marlton, NJ, 08053
Website
www.themichaelsorg.comNTEE Category
Code: Y40 - Mutual benefit
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