Overview
What is The Prudential Welfare Benefits Trust?
The Prudential Welfare Benefits Trust is a Newark, New Jersey-based entity, specifically located at 751 Broad Street, 18th Floor. Its primary role involves making payments to insurance carriers and contract administrators, ensuring the distribution of medical, dental, disability, and various other welfare benefits to participants and their dependents within the Prudential Welfare Benefits Plan. Essentially, the Trust serves as a financial facilitator for providing essential benefits to those enrolled in the program.
Is The Prudential Welfare Benefits Trust legitimate?
The Prudential Welfare Benefits Trust is a legitimate nonprofit organization registered as a 501(c)(9) entity. The Prudential Welfare 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
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What is the mission statement of The Prudential Welfare Benefits Trust?
The Prudential Welfare Benefits Trust is designed to finance medical, dental, disability, and various other welfare benefits for participants and their dependents within the Prudential Welfare Benefits Plan. This trust's primary objective is to ensure the funding of these benefits, which include insurance coverages and administrative contracts. By allocating resources to insurance carriers and contract administrators, it makes possible the provision of these essential benefits. The trust's purpose is to maintain the health and well-being of the plan members and their dependents.
Who is the CEO of The Prudential Welfare Benefits Trust?
Prudential Trust Co is the Principal Officer of The Prudential Welfare Benefits Trust.
What is the revenue of The Prudential Welfare Benefits Trust?
The Prudential Welfare Benefits Trust's revenue in 2022 was $240,935,687.
Who are the executives of The Prudential Welfare Benefits Trust and what are their salaries?
There 3 volunteers at The Prudential Welfare Benefits Trust.
Here are 4 key members and their salaries:
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Where can I find the form 990 for The Prudential Welfare Benefits Trust?
The Prudential Welfare Benefits Trust's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of The Prudential Welfare Benefits Trust
The Prudential Welfare Benefits Trust is a charitable organization dedicated to funding medical, dental, disability, and various welfare benefits for participants and their dependents in the Prudential Welfare Benefits Plan. In simpler terms, this trust serves as a financial resource to ensure eligible individuals receive essential benefits, including health and disability coverage.
Established to fulfill its commitment towards participants in the Prudential Welfare Benefits Plan, the trust make payments to insurance carriers and contract administrators, ensuring the availability of these crucial benefits. The trust takes pride in its role in providing participants and their dependents with financial security, enabling them to focus on their health and wellbeing during challenging times.
In essence, the Prudential Welfare Benefits Trust acts as an essential safety net for those enrolled in the Prudential Welfare Benefits Plan, providing them with peace of mind and access to vital medical, dental, and disability benefits. By doing so, the trust plays a significant role in enhancing the overall wellbeing and quality of life for its beneficiaries.
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Impact
October, 2024
The Prudential Welfare Benefits Trust significantly impacts the well-being of its participants by providing crucial funding for medical, dental, disability, and other welfare benefits. By servicing payments to insurance carriers and contract administrators, it ensures that participants and their dependents receive the necessary support when it comes to healthcare and other essential benefits. This trust not only enhances the financial security of individuals but also promotes better health outcomes, safety, and overall quality of life. By alleviating the burden of healthcare costs, it plays a vital role in helping families maintain their health and financial stability during challenging times.
This information is meant to be a general summary of The Prudential Welfare 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: $462,092
- Program Service Revenue: $240,473,595
- Gross Receipts: $244,153,208
Assets and Liabilities:
- Total Assets: $21,261,674
- Total Liabilities: $0
- Net Assets: $21,261,674
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
EMPLOYER CONTRIBUTIONS
Revenue
$182,542,726
EMPLOYEE CONTRIBUTIONS
Revenue
$57,930,869
Organization Details
Founding Year
2001
Phone
(973) 802-4137Principal Officer
Prudential Trust Co
Main Address
751 BROAD STREET 18TH FLOOR, NEWARK, NJ, 07102
NTEE Category
Code: Y43 - Mutual benefit
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