Overview
What is Shopmen's Local Union No 508 Health & Welfare Fund?
Shopmen's Local Union No 508 Health & Welfare Fund is a nonprofit entity based in Southfield, Michigan. Established through collective bargaining agreements, its primary mission is to manage and distribute funds for the benefit of its participants. This includes providing health, welfare, and related benefits to employees and their dependents, serving as a welfare benefit plan. The fund is maintained with the purpose of ensuring the well-being and support of its beneficiaries.
Official website here: www.shopmens508benefits.com
Is Shopmen's Local Union No 508 Health & Welfare Fund legitimate?
Shopmen's Local Union No 508 Health & Welfare Fund is a legitimate nonprofit organization registered as a 501(c)(9) entity. Shopmen's Local Union No 508 Health & Welfare 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.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $54,256
For more financial information, click here
Official website here: www.shopmens508benefits.com
What is the mission statement of Shopmen's Local Union No 508 Health & Welfare Fund?
The Shopmen's Local Union No 508 Health & Welfare Fund has been established with a primary purpose. This purpose involves managing a trust fund to provide various benefits, including health, welfare, death, or related benefits, for the employees and their dependents or beneficiaries. The collection of funds for this purpose is done in accordance with collective bargaining agreements, with the ultimate goal of distributing these funds for the benefit of the participants. In simpler terms, the mission of the Shopmen's Local Union No 508 Health & Welfare Fund is to ensure the well-being of its members by providing necessary benefits, funded through agreements between the union and employers.
Official website here: www.shopmens508benefits.com
What is the revenue of Shopmen's Local Union No 508 Health & Welfare Fund?
Shopmen's Local Union No 508 Health & Welfare Fund's revenue in 2024 was $644,171.
Official website here: www.shopmens508benefits.com
Who are the executives of Shopmen's Local Union No 508 Health & Welfare Fund and what are their salaries?
There 6 volunteers at Shopmen's Local Union No 508 Health & Welfare Fund.
Here are 6 key members and their salaries:
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- Other: $0
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- Other: $0
- Compensation: $0
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- Other: $0
Official website here: www.shopmens508benefits.com
Where can I find the form 990 for Shopmen's Local Union No 508 Health & Welfare Fund?
Shopmen's Local Union No 508 Health & Welfare Fund's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.shopmens508benefits.com
Learn more at the official website: www.shopmens508benefits.com
Mission Statement of Shopmen's Local Union No 508 Health & Welfare Fund
Shopmen's Local Union No 508 Health & Welfare Fund is established with a specific purpose: to provide health, welfare, death, or related benefits for the employees and their dependents or beneficiaries. This welfare benefit plan operates based on the collections of monies as per the terms of the collective bargaining agreement, with the primary objective of distributing these funds for the benefit of the participants. The trust fund, therefore, plays a crucial role in ensuring the well-being and protection of its members, offering a safety net during challenging times.
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Impact
October, 2024
Shopmen's Local Union No 508 Health & Welfare Fund plays a crucial role in enhancing the quality of life for its participants and their families. By collecting funds through collective bargaining agreements, the fund is able to provide essential health and welfare benefits, which include healthcare coverage, death benefits, and related support for employees and their dependents.
This support system ensures that workers are safeguarded against unforeseen medical expenses and hardships, fostering a sense of security and well-being. Participants can access vital health services, alleviating financial burdens that often arise with medical care. Additionally, the fund acts as a financial safety net in times of crisis, such as the loss of a family member.
Overall, the fund's impact is significant, as it not only addresses immediate health needs but also contributes to a stable and secure environment for employees and their families, promoting a healthier community in Southfield, MI. By prioritizing mutual benefit, it strengthens the workforce and enhances the overall quality of life for its members.
This information is meant to be a general summary of Shopmen's Local Union No 508 Health & Welfare 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 2024.
- Investment Income: $98,566
- Program Service Revenue: $545,605
- Gross Receipts: $644,171
Assets and Liabilities:
- Total Assets: $2,165,184
- Total Liabilities: $0
- Net Assets: $2,165,184
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM CONTRIBUTIONS
Revenue
$545,605
Organization Details
Founding Year
1971
Principal Officer
Martin Marinack
Website
www.shopmens508benefits.comNTEE Category
Code: Y40 - Mutual benefit
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