Overview
What is Cooperative Group Benefit Trust?
Cooperative Group Benefit Trust is a nonprofit organization situated in Arden Hills, Minnesota. Its primary purpose was to serve as a Multiple Employer Welfare Arrangement (MEWA), offering medical, dental, vision, and life insurance to its participating members. The trust aimed to provide comprehensive healthcare benefits, ensuring the well-being of its members. Although the plan was terminated on December 31, 2019, it continued to process and settle claims incurred prior to this date during the 2020 year. The trust remains dedicated to fulfilling its original mission, focusing on the benefits of its members.
Is Cooperative Group Benefit Trust legitimate?
Cooperative Group Benefit Trust is a legitimate nonprofit organization registered as a 501(c)(9) entity. Cooperative Group 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:
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What is the mission statement of Cooperative Group Benefit Trust?
The Cooperative Group Benefit Trust was a Multiple Employer Welfare Arrangement (MEWA) that offered medical, dental, vision, and life insurance to its participating members. The organization terminated its operations on December 31, 2019, and subsequently, no new claims were accepted after this date. However, the plan continued to process and pay out claims that had been incurred prior to December 31, 2019, during the 2020 year. The primary objective of the Cooperative Group Benefit Trust was to provide comprehensive insurance coverage to its members, ensuring their health and financial security. Despite its termination, the trust remained committed to honoring its obligations by settling any remaining claims incurred before its closure.
Who is the CEO of Cooperative Group Benefit Trust?
Jeff Troike is the Trustee of Cooperative Group Benefit Trust.
What is the revenue of Cooperative Group Benefit Trust?
Cooperative Group Benefit Trust's revenue in 2020 was $49,363.
Who are the executives of Cooperative Group Benefit Trust and what are their salaries?
Here are 6 key members and their salaries:
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Where can I find the form 990 for Cooperative Group Benefit Trust?
Cooperative Group Benefit Trust's most recent form 990 was submitted in 2020 and can be accessed here.
Mission Statement of Cooperative Group Benefit Trust
Cooperative Group Benefit Trust was a Multiple Employer Welfare Arrangement (MEWA) that offered medical, dental, vision, and life insurance to its participating members. The organization's mission was to provide these essential health benefits, fostering a sense of security and well-being among its members. Although the plan was terminated on December 31, 2019, it continued to honor runout claims incurred prior to this date during the 2020 year. This demonstrated Cooperative Group Benefit Trust's commitment to fulfilling its obligations to its members, even after its official operation ceased.
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Impact
October, 2024
Cooperative Group Benefit Trust significantly impacted its participating members by offering a comprehensive range of insurance products, including medical, dental, vision, and life insurance. This Multiple Employer Welfare Arrangement (MEWA) aimed to meet the healthcare and financial security needs of its members, fostering a sense of community and mutual support among various employers.
Although the plan was terminated on December 31, 2019, and no new claims will be processed following this date, it has continued to fulfill its obligations by addressing runout claims incurred before the termination during the 2020 year. This commitment ensured that members received the benefits they earned, reflecting the organization’s dedication to serving its community even after the cessation of the plan.
By pooling resources, Cooperative Group Benefit Trust not only provided valuable insurance coverage that may have been less accessible individually, but it also promoted shared responsibility among its member organizations. This model exemplified a mutual benefit approach, contributing to overall employee well-being and financial stability for those who relied on its services.
This information is meant to be a general summary of Cooperative Group 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 2020.
- Investment Income: $46,506
- Program Service Revenue: $2,857
- Gross Receipts: $49,363
Assets and Liabilities:
- Total Assets: $2,586,578
- Total Liabilities: $0
- Net Assets: $2,586,578
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
EMPLOYER(EE) CONTRIBUITONS
Revenue
$2,857
Organization Details
Founding Year
1987
Phone
(614) 766-5800Principal Officer
Jeff Troike
Main Address
4001 LEXINGTON AVE N, ARDEN HILLS, MN, 551262998
NTEE Category
Code: Y40 - Mutual benefit
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