Overview
What is Whitaker Construction Group Inc Employee Benefit Trust?
Whitaker Construction Group Inc Employee Benefit Trust is a nonprofit entity, primarily serving as a platform for collecting and managing employee benefits. Specifically, it collects deposits from the employer based on prevailing wage rates or additional contributions made by the employer, and then tracks and utilizes these funds to pay for the employees' health and dental insurance premiums. The system is individualized, with each employee having their own tracked funds. This Trust ensures that both the prevailing wage benefits earned by field employees and additional contributions from the employer are used effectively to cover the monthly insurance premiums. The Trust operates within the guidelines set by the California Department of Industrial Relations.
Is Whitaker Construction Group Inc Employee Benefit Trust legitimate?
Whitaker Construction Group Inc Employee Benefit Trust is a legitimate nonprofit organization registered as a 501(c)(9) entity. Whitaker Construction Group Inc 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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What is the mission statement of Whitaker Construction Group Inc Employee Benefit Trust?
The mission of Whitaker Construction Group Inc Employee Benefit Trust is to manage and oversee the premium payments for employees' health, dental, and life insurance. The trust collects deposits from the employer, which includes wages earned through prevailing wages for field employees and additional contributions made by the employer. These deposits are tracked individually for each employee, and the funds are utilized to cover the employees' monthly health and dental insurance premiums. Upon termination, any remaining balances are paid out to the employee, and a Form 1099 is issued.
Who is the CEO of Whitaker Construction Group Inc Employee Benefit Trust?
Matthew Bousman is the Trustee of Whitaker Construction Group Inc Employee Benefit Trust.
What is the revenue of Whitaker Construction Group Inc Employee Benefit Trust?
Whitaker Construction Group Inc Employee Benefit Trust's revenue in 2022 was $360,319.
Who are the executives of Whitaker Construction Group Inc Employee Benefit Trust and what are their salaries?
There is 1 key member and their salary:
- Compensation: $0
- Related: $127,854
- Other: $0
Where can I find the form 990 for Whitaker Construction Group Inc Employee Benefit Trust?
Whitaker Construction Group Inc Employee Benefit Trust's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Whitaker Construction Group Inc Employee Benefit Trust
Whitaker Construction Group Inc Employee Benefit Trust is an entity that plays a crucial role in managing the health, dental, and life insurance premium payments for its employees. Its mission is twofold. Firstly, the Trust collects and tracks deposits from the employer for amounts earned through prevailing wages or additional contributions made by the employer. This process ensures that each employee's contributions are accurately accounted for and separated from the overall pool of funds.
Secondly, the Trust administers the payment of these premiums. The collected funds, which include both employee earnings and employer contributions, are used to pay the monthly health and dental insurance premiums for each employee when due. Any remaining balances are paid out to the employee upon termination, and a Form 1099 is issued. In essence, Whitaker Construction Group Inc Employee Benefit Trust serves as a financial intermediary, facilitating the seamless transfer of premium payments and ensuring that each employee's contributions are used for their intended purpose.
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Impact
October, 2024
Whitaker Construction Group Inc Employee Benefit Trust plays a crucial role in supporting the health and financial well-being of employees in the construction industry. By collecting and tracking deposits from employers based on California's prevailing wage laws, the trust ensures that employees have access to vital health and dental insurance benefits. This framework is particularly important in a sector where employees may work on wage-based contracts that necessitate careful accounting of benefits.
The trust manages individual accounts for employees, allowing for precise tracking of contributions earned through prevailing wages and additional employer contributions. This level of customization ensures that each employee's contributions directly correspond to their work and earnings, promoting a sense of equity and transparency.
Moreover, by facilitating timely payments for health and dental insurance premiums, the trust protects employees from potential coverage gaps. The proactive collection of funds—accrued monthly instead of quarterly—demonstrates a commitment to employee welfare that goes beyond mere legal compliance. This mechanism not only addresses the immediate health needs of employees but also contributes to their long-term financial security by allowing for funds to be paid out upon termination.
Overall, the Trust’s operations enhance the overall stability and satisfaction of the workforce, ultimately benefiting both the employees and the employers through improved morale and retention in the construction industry.
This information is meant to be a general summary of Whitaker Construction Group Inc 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: $40
- Program Service Revenue: $360,233
- Gross Receipts: $360,319
Assets and Liabilities:
- Total Assets: $245,725
- Total Liabilities: $0
- Net Assets: $245,725
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
EMPLOYEE DEPOSITS
Revenue
$321,067
EMPLOYEE EBT ACCT
Revenue
$39,166
Organization Details
Phone
(805) 226-4020Principal Officer
Matthew Bousman
Main Address
2752 CONCRETE COURT, PASO ROBLES, CA, 93446
NTEE Category
Code: Y43 - Mutual benefit
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