Overview
What is Sundstrand Corporation Supplemental Unemployment Benefit Trust Fund?
Sundstrand Corporation Supplemental Unemployment Benefit Trust Fund is a nonprofit entity situated in Rockford, Illinois. Its primary mission is to provide additional unemployment benefits to 398 participants who are Hamilton Sundstrand employees. During periods of layoff, this fund offers supplemental compensation above the state unemployment compensation, ensuring financial support during challenging times. The trust fund operates in accordance with a collective bargaining agreement.
Is Sundstrand Corporation Supplemental Unemployment Benefit Trust Fund legitimate?
Sundstrand Corporation Supplemental Unemployment Benefit Trust Fund is a legitimate nonprofit organization registered as a 501(c)(17) entity. Sundstrand Corporation Supplemental Unemployment Benefit Trust Fund 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 Sundstrand Corporation Supplemental Unemployment Benefit Trust Fund?
The Sundstrand Corporation Supplemental Unemployment Benefit Trust Fund's mission is to offer supplemental unemployment benefits to eligible employees, exceeding the state unemployment compensation during periods of layoff. This fund primarily targets factory employees who are part of a collective bargaining agreement. Its primary aim is to support these workers financially during times of job loss, providing additional benefits to a total of 398 participants.
Who is the CEO of Sundstrand Corporation Supplemental Unemployment Benefit Trust Fund?
Walton Price is the Chairperson of Sundstrand Corporation Supplemental Unemployment Benefit Trust Fund.
What is the revenue of Sundstrand Corporation Supplemental Unemployment Benefit Trust Fund?
Sundstrand Corporation Supplemental Unemployment Benefit Trust Fund's revenue in 2022 was $6,775.
Who are the executives of Sundstrand Corporation Supplemental Unemployment Benefit Trust Fund and what are their salaries?
Here are 4 key members and their salaries:
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Where can I find the form 990 for Sundstrand Corporation Supplemental Unemployment Benefit Trust Fund?
Sundstrand Corporation Supplemental Unemployment Benefit Trust Fund's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Sundstrand Corporation Supplemental Unemployment Benefit Trust Fund
Sundstrand Corporation Supplemental Unemployment Benefit Trust Fund, in its mission, aims to provide supplemental unemployment benefits to Hamilton Sundstrand employees. This is done to offer additional financial support during periods of layoff, surpassing the state unemployment compensation for factory employees who are covered by a collective bargaining agreement. The primary objective of this trust fund is to alleviate some of the financial burden experienced by the 398 participating employees during their time of unemployment. By providing these supplemental benefits, the fund seeks to offer a safety net to these workers, helping them navigate through challenging times and eventually return to employment.
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Impact
October, 2024
The Sundstrand Corporation Supplemental Unemployment Benefit Trust Fund plays a crucial role in providing financial support to Hamilton Sundstrand employees during periods of unemployment due to layoffs. By supplementing state unemployment compensation, the fund ensures that 398 participants receive additional benefits that help bridge the gap caused by reduced income, allowing them to manage their financial obligations more effectively during difficult times.
This support is particularly significant for factory employees covered by a collective bargaining agreement, as it helps maintain a level of economic stability for individuals and their families. By alleviating some of the financial pressures associated with unemployment, the fund not only helps those directly affected but also contributes to the overall economic health of the Rockford community in Illinois. The fund's mission underscores its commitment to mutual benefit, fostering a sense of security and solidarity among workers in challenging employment situations.
This information is meant to be a general summary of Sundstrand Corporation Supplemental Unemployment Benefit Trust Fund. 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: $6,775
- Gross Receipts: $481,035
Assets and Liabilities:
- Total Assets: $452,880
- Total Liabilities: $0
- Net Assets: $452,880
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Organization Details
Founding Year
1955
Phone
(860) 728-7000Principal Officer
Walton Price
Main Address
4747 HARRISON AVENUE, ROCKFORD, IL, 61108
NTEE Category
Code: Y20 - Mutual benefit
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