Overview
What is The Travelers Employee Benefit Trust?
The Travelers Employee Benefit Trust is a nonprofit organization headquartered in St. Paul, Minnesota, with the address 385 Washington Street 9275-SB05T. Their mission is to provide benefits for eligible employees, retirees, and their dependents of Travelers Companies, Inc., by paying or reimbursing covered expenses. The Trust reported significant financial activity in 2020, with benefits incurred totaling $347.5 million, a reserve increase of $4.8 million, administrative fees of $4.3 million, and medical premiums paid and payable amounting to $2.6 million. The Trust is dedicated to offering essential employee benefits to its members.
What are the reviews and ratings of this charity?
The Travelers Employee Benefit Trust is not currently rated by Charity Navigator. This lack of rating stems from the organization's classification as something other than a 501(c)(3) nonprofit, which prevents it from being evaluated under Charity Navigator’s existing methodologies. As such, the absence of a rating should not be interpreted as either favorable or unfavorable.
Historically, Charity Navigator’s ratings primarily hinged on accountability and financial health, areas where data is presently unavailable for this organization. Details such as total revenue, expenses, and salaries of key personnel are also missing, adding to the difficulty of assessing its operations under traditional nonprofit metrics.
Without user reviews on platforms like GreatNonprofits, public insight into the organization’s performance, effectiveness, and impact remains limited. This absence of reviews neither confirms nor denies the organization’s potential value, instead illustrating a gap in available public feedback.
This AI summary has been generated from information found on Charity Navigator.
Is The Travelers Employee Benefit Trust legitimate?
The Travelers Employee Benefit Trust is a legitimate nonprofit organization registered as a 501(c)(9) entity. The Travelers 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 The Travelers Employee Benefit Trust?
The Travelers Employee Benefit Trust is dedicated to extending employee benefits to eligible employees and retirees of Travelers Companies, Inc. Its primary mission is to provide financial support through reimbursement or payment of covered expenses for these individuals. The Trust has reported significant medical benefit expenses, totaling $347 million, and is actively building up a reserve for future needs, increasing it by nearly $5 million. A portion of the funds goes towards administrative fees, while a significant portion is paid out as medical premiums. The Trust's purpose is to ensure the wellbeing and financial security of the eligible employees and retirees of Travelers Companies, Inc.
Who is the CEO of The Travelers Employee Benefit Trust?
Unavailable
What is the revenue of The Travelers Employee Benefit Trust?
The Travelers Employee Benefit Trust's revenue in 2022 was $391,855,239.
Who are the executives of The Travelers Employee Benefit Trust and what are their salaries?
There is 1 key member and their salary:
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for The Travelers Employee Benefit Trust?
The Travelers Employee Benefit Trust's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of The Travelers Employee Benefit Trust
The Travelers Employee Benefit Trust, a significant entity, is committed to extending employee benefits to eligible employees and retirees of The Travelers Companies, Inc. Its primary objective is to reimburse or cover expenses incurred by these individuals and their dependents.
In essence, this trust serves as a safety net, offering financial assistance for various medical-related expenses amounting to $347,454,709. This substantial investment in employee wellbeing indicates the organization's dedication to ensuring the health and well-being of its beneficiaries. The trust also manages a reserve of $4,755,000, which adds to its financial stability and its capacity to cater to the needs of its members.
The trust's operations also involve the payment of administrative fees amounting to $4,329,083 to maintain its daily functions. Furthermore, the trust pays out $2,559,704 as premiums to cover the medical expenses of its beneficiaries. Overall, The Travelers Employee Benefit Trust stands as a crucial element in the lives of its members, providing essential support and financial assistance for their medical needs.
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Impact
October, 2024
The Travelers Employee Benefit Trust plays a crucial role in enhancing the financial security and well-being of eligible employees, retirees, and their dependents associated with Travelers Companies, Inc. By providing for the payment or reimbursement of covered medical expenses, the Trust significantly alleviates the financial burden of healthcare costs for its beneficiaries.
In a recent evaluation, the Trust reported total medical benefits incurred reaching approximately $347 million, showcasing its commitment to supporting its members. Additionally, a reserve increase of $4.75 million indicates a proactive approach to ensuring that funds are available for future claims, thereby promoting stability and continuity in provided benefits. The administrative costs, amounting to about $4.33 million, reflect operational effectiveness while still prioritizing the beneficiaries’ well-being.
Furthermore, the medical premium paid and payable, totaling around $2.56 million, underscores the Trust's role in facilitating access to necessary medical services, ensuring that employees and retirees can focus on their health without undue stress about medical expenses. Overall, the Travelers Employee Benefit Trust serves as a vital resource, fostering a supportive community and enhancing the quality of life for those who have dedicated their careers to Travelers Companies, Inc.
This information is meant to be a general summary of The Travelers 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: $199,563
- Program Service Revenue: $391,655,676
- Gross Receipts: $393,234,918
Assets and Liabilities:
- Total Assets: $44,528,915
- Total Liabilities: $55,698,614
- Net Assets: -$11,169,699
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Participating Employer
Revenue
$250,839,203
Participating Employee
Revenue
$140,816,473
Organization Details
Founding Year
2004
Phone
(651) 310-7101Main Address
385 Washington ST 9275-SB05T, ST PAUL, MN, 55102
NTEE Category
Code: Y40 - Mutual benefit
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