Overview
What is Bg New England Post-Employment Medical Savings Account Trust?
The Bg New England Post-Employment Medical Savings Account Trust is a nonprofit organization dedicated to offering health care benefits to its employees. They achieve this goal by managing a VEBA Trust, which collects contributions from members and employees, subsequently utilized to provide medical benefits for union participants and their surviving spouses. This trust provides a crucial safety net for its union participants, ensuring continued healthcare coverage post-employment.
Is Bg New England Post-Employment Medical Savings Account Trust legitimate?
Bg New England Post-Employment Medical Savings Account Trust is a legitimate nonprofit organization registered as a 501(c)(9) entity. Bg New England Post-Employment Medical Savings Account 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: $9,527
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Bg New England Post-Employment Medical Savings Account Trust?
The BG New England Post-Employment Medical Savings Account Trust serves a mission to offer health care benefits to its employees. This is accomplished through the VEBA Trust, which pools contributions from members and employees. The aim is to provide benefits for union participants and their surviving spouses, ensuring their well-being post-employment. The Trust's primary objective is to ensure that employees can access necessary medical care, ensuring their overall health and well-being. The Trust operates based on the contributions from the employees and members, thereby providing a safety net for healthcare needs after retirement.
Who is the CEO of Bg New England Post-Employment Medical Savings Account Trust?
Martin G Hammond is the Institutional Trustee of Bg New England Post-Employment Medical Savings Account Trust.
What is the revenue of Bg New England Post-Employment Medical Savings Account Trust?
Bg New England Post-Employment Medical Savings Account Trust's revenue in 2022 was $170,318.
Who are the executives of Bg New England Post-Employment Medical Savings Account Trust and what are their salaries?
There is 1 key member and their salary:
- Compensation: $9,527
- Related: $0
- Other: $0
Where can I find the form 990 for Bg New England Post-Employment Medical Savings Account Trust?
Bg New England Post-Employment Medical Savings Account Trust's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Bg New England Post-Employment Medical Savings Account Trust
The BG New England Post-Employment Medical Savings Account Trust is an organization dedicated to providing health care benefits to its employees. They accomplish this mission through the VEBA Trust, a fund that receives contributions from both members and employees. This trust is designed to offer health care benefits to union participants and their surviving spouses, ensuring continued coverage and support for these individuals. By pooling resources and contributions, the trust allows the organization to provide comprehensive and sustainable health care benefits to its employees, even after their employment has ended.
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Impact
October, 2024
The BG New England Post-Employment Medical Savings Account Trust plays a crucial role in enhancing the health care benefits of employees, particularly union participants and their surviving spouses. By leveraging contributions from both members and employees, the Trust supports a system that ensures ongoing access to necessary health care resources. This model not only alleviates financial burdens related to medical expenses for individuals and families within the union but also promotes overall well-being among participants.
Situated in Kennett Square, PA, the Trust fosters a sense of community and mutual benefit among its members, reinforcing the value of collaborative support in health care. By offering post-employment health care benefits, it provides a safety net for former employees, allowing them to maintain essential health services during retirement or after leaving the workforce. This initiative not only addresses immediate health care needs but also contributes to long-term health outcomes for retirees and their families, demonstrating a significant impact on the lives of those connected to the Trust.
This information is meant to be a general summary of Bg New England Post-Employment Medical Savings Account 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: $113,959
- Program Service Revenue: $56,359
- Gross Receipts: $804,371
Assets and Liabilities:
- Total Assets: $4,692,085
- Total Liabilities: $149,793
- Net Assets: $4,542,292
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PARTICIPANT CONTRIBUTI
Revenue
$56,359
Organization Details
Founding Year
2005
Phone
(779) 231-5341Principal Officer
Martin G Hammond
Main Address
200 EXELON WAY, KENNETT SQUARE, PA, 19348
NTEE Category
Code: Y43 - Mutual benefit
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