Overview
What is International Brotherhood Of Boilermaker Great Lakes Region Retiree Welfare Plan?
The International Brotherhood of Boilermaker Great Lakes Region Retiree Welfare Plan is a nonprofit organization located at 6525 Centurion Drive, Lansing, MI 48917. Its primary mission is to provide financial assistance to retiree Boilermakers, helping them cover the escalating costs of health care insurance. The plan has begun distributing funds in accordance with its requirements, offering a meaningful supplement to support retirees with their health insurance expenses. To date, the plan has dispersed over $800,000 in direct health insurance assistance and supplements, with a reserve balance set aside to fund future benefits. This enables more retirees to afford health care and potentially create more job opportunities within the trade.
Is International Brotherhood Of Boilermaker Great Lakes Region Retiree Welfare Plan legitimate?
International Brotherhood Of Boilermaker Great Lakes Region Retiree Welfare Plan is a legitimate nonprofit organization registered as a 501(c)(9) entity. International Brotherhood Of Boilermaker Great Lakes Region Retiree Welfare Plan 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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What is the mission statement of International Brotherhood Of Boilermaker Great Lakes Region Retiree Welfare Plan?
The International Brotherhood of Boilermaker's Great Lakes Region Retiree Welfare Plan was established to manage a fund for providing healthcare and related employee benefits to eligible individuals. Its primary mission is to administer this fund, ensuring that eligible employees or beneficiaries receive the necessary payments. The plan's income, amounting to $902,894, is specifically utilized for providing health care supplements to retired Boilermakers, helping them cover the escalating costs of healthcare insurance. To date, the plan has distributed payments in accordance with its requirements, providing a meaningful supplement to aid retirees in covering their health insurance expenses. As of the provided data, the plan has paid out $812,826 directly in health insurance assistance and supplements, maintaining a reserve balance to fund future benefits and facilitate retirement for more participants, potentially creating more jobs for current and future members of the trade.
What is the revenue of International Brotherhood Of Boilermaker Great Lakes Region Retiree Welfare Plan?
International Brotherhood Of Boilermaker Great Lakes Region Retiree Welfare Plan's revenue in 2023 was $1,277,080.
Who are the executives of International Brotherhood Of Boilermaker Great Lakes Region Retiree Welfare Plan and what are their salaries?
Here are 10 key members and their salaries:
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Where can I find the form 990 for International Brotherhood Of Boilermaker Great Lakes Region Retiree Welfare Plan?
International Brotherhood Of Boilermaker Great Lakes Region Retiree Welfare Plan's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of International Brotherhood Of Boilermaker Great Lakes Region Retiree Welfare Plan
The International Brotherhood of Boilermaker Great Lakes Region Retiree Welfare Plan was established with a specific purpose. Its mission is to manage and administer a fund, receiving contributions for the provision of healthcare benefits and related employee assistance to eligible retirees or beneficiaries, in accordance with the plan's guidelines. This plan was created with the intent to offer health care supplements to retired Boilermakers, aiming to alleviate the escalating costs associated with healthcare insurance. The plan has begun distributing these benefits, providing a substantial supplement to aid retirees in covering their healthcare insurance expenses. As a result, the plan has distributed $812,826 in direct health insurance assistance and supplements, while also maintaining a reserve balance to ensure future benefits and enable more retirees to benefit from the plan, ultimately contributing to job creation within the trade for current and future members.
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Impact
October, 2024
The International Brotherhood of Boilermaker Great Lakes Region Retiree Welfare Plan significantly impacts the lives of retired boilermakers by providing essential financial support for healthcare costs. With an income of $902,894, the plan focuses on delivering health care supplements, which are critical in light of rising healthcare insurance costs. It has disbursed $812,826 in direct health insurance assistance, easing the financial burden on retirees and their families.
This financial support not only helps individuals manage their medical expenses but also creates a more sustainable model for retirement within the trade. By ensuring that retirees have access to necessary healthcare benefits, the plan encourages more members to retire, thereby opening up positions for current and future workers in the industry. Additionally, the reserve balance maintained by the plan is vital for funding future benefits, ensuring the longevity of these supports for upcoming retirees.
Overall, the plan strengthens the community of retired boilermakers by fostering better health and financial stability, which ultimately contributes to job creation and retention within the trade.
This information is meant to be a general summary of International Brotherhood Of Boilermaker Great Lakes Region Retiree Welfare Plan. 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: $526,115
- Program Service Revenue: $750,965
- Gross Receipts: $1,277,080
Assets and Liabilities:
- Total Assets: $14,416,058
- Total Liabilities: $44,533
- Net Assets: $14,371,525
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Employer Contributions
Revenue
$750,965
Organization Details
Founding Year
2008
Principal Officer
Martin D Mahon
NTEE Category
Code: Y20 - Mutual benefit
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