Overview
What is Solutia Inc?
Solutia Inc is associated with the Solutia Retiree Welfare Trust, a nonprofit entity established in 2007. The primary role of this trust, as outlined in the First Amended and Restated Retiree Settlement Agreement, is to provide post-employment benefits, including medical, life insurance, and disability coverage, to certain retired employees of Solutia Inc. and any potential successors. The trust's mission is to ensure the well-being of these retirees by offering these essential benefits, thereby upholding its commitment to the community of Solutia Inc.'s former workforce.
Is Solutia Inc legitimate?
Solutia Inc is a legitimate nonprofit organization registered as a 501(c)(9) entity. Solutia Inc 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: $5,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Solutia Inc?
Solutia Inc, through its Retiree Welfare Trust established in 2007, is committed to providing post-employment benefits to certain employees. Specifically, the mission involves offering retirement medical coverage, retirement life insurance, and disability benefits. This is outlined in the First Amended and Restated Retiree Settlement Agreement dated July 10, 2007. The purpose of these benefits is to ensure the welfare of Solutia Inc's retired employees.
Who is the CEO of Solutia Inc?
Christopher Mcreynolds is the Trustee of Solutia Inc.
What is the revenue of Solutia Inc?
Solutia Inc's revenue in 2022 was $3,472,948.
Who are the executives of Solutia Inc and what are their salaries?
There 4 volunteers at Solutia Inc.
There is 1 key member and their salary:
- Compensation: $5,000
- Related: $0
- Other: $0
Where can I find the form 990 for Solutia Inc?
Solutia Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Solutia Inc
Solutia Inc, in its mission, is dedicated to providing welfare benefits to its retired employees and any potential successors. This mission is fulfilled through the provision of various post-employment benefits, including retiree medical coverage, retiree life insurance, and disability benefits. The organization established the Solutia Retiree Welfare Trust in 2007, pursuant to the First Amended and Restated Retiree Settlement Agreement, with the primary objective of providing these benefits. This trust, therefore, serves as a safety net for certain employees of Solutia Inc, ensuring they have access to necessary healthcare and financial support during their retirement years.
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Impact
October, 2024
Solutia Inc plays a crucial role in ensuring the well-being of its retirees by providing essential welfare benefits. Through the Solutia Retiree Welfare Trust, established under the First Amended and Restated Retiree Settlement Agreement of July 10, 2007, the organization is dedicated to delivering vital post-employment benefits. These include retiree medical coverage, life insurance, and disability benefits, collectively known as Other Post-Employment Benefits (OPEB).
Operating out of Kingsport, TN, Solutia Inc's impact extends to enhancing the quality of life for certain employees who have dedicated their careers to the company. The provision of these benefits not only supports retirees in their later years but also promotes a sense of security and peace of mind, acknowledging their past contributions. By fulfilling its mission, Solutia Inc demonstrates a commitment to mutual benefit, reinforcing the importance of caring for those who have helped build the organization.
This information is meant to be a general summary of Solutia Inc. 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: $2,123,022
- Program Service Revenue: $1,349,926
- Gross Receipts: $45,174,294
Assets and Liabilities:
- Total Assets: $88,859,895
- Total Liabilities: $314,719
- Net Assets: $88,545,176
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PARTICIPANT CONTRIBUTI
Revenue
$1,349,926
Organization Details
Founding Year
2007
Phone
(423) 224-0104Principal Officer
Christopher Mcreynolds
Main Address
200 S WILCOX DR, KINGSPORT, TN, 37660
NTEE Category
Code: Y43 - Mutual benefit
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