Overview
What is Employer-Teamsters Local Unions No 175 & 505 Retiree Health Fund?
Employer-Teamsters Local Unions No 175 & 505 Retiree Health Fund is a health and welfare benefit-providing organization, established through negotiations between unions and management. Based in Charleston, West Virginia, the fund serves as a trust for retirees of Local Union Nos. 175 and 505. Its primary mission is to collect, safeguard, and invest contributions, aiming to provide health and welfare benefits to eligible participants and their dependents, as outlined in the plan. This fund operates as a union-negotiated, union-managed entity, promoting the well-being of its retiree beneficiaries.
Is Employer-Teamsters Local Unions No 175 & 505 Retiree Health Fund legitimate?
Employer-Teamsters Local Unions No 175 & 505 Retiree Health Fund is a legitimate nonprofit organization registered as a 501(c)(9) entity. Employer-Teamsters Local Unions No 175 & 505 Retiree Health 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: $8,944
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What is the mission statement of Employer-Teamsters Local Unions No 175 & 505 Retiree Health Fund?
The Employer-Teamsters Local Unions No 175 & 505 Retiree Health Fund's primary mission is to provide health and welfare benefits to the retired members of Local Union Nos. 175 and 505. This is achieved by collecting and managing contributions, preserving and investing the funds, and then distributing the benefits as per the provisions of the Retiree Fund Plan. The objective of the fund is to ensure the well-being of its participants and their beneficiaries to the best of its abilities. It operates as an area-wide, union-negotiated, and union-managed trust fund, emphasizing the collective nature of its operations.
Who is the CEO of Employer-Teamsters Local Unions No 175 & 505 Retiree Health Fund?
Frank T Litton Jr is the Trustee of Employer-Teamsters Local Unions No 175 & 505 Retiree Health Fund.
What is the revenue of Employer-Teamsters Local Unions No 175 & 505 Retiree Health Fund?
Employer-Teamsters Local Unions No 175 & 505 Retiree Health Fund's revenue in 2022 was $3,285,369.
Who are the executives of Employer-Teamsters Local Unions No 175 & 505 Retiree Health Fund and what are their salaries?
Here are 6 key members and their salaries:
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Where can I find the form 990 for Employer-Teamsters Local Unions No 175 & 505 Retiree Health Fund?
Employer-Teamsters Local Unions No 175 & 505 Retiree Health Fund's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Employer-Teamsters Local Unions No 175 & 505 Retiree Health Fund
Employer-Teamsters Local Unions No 175 & 505 Retiree Health Fund is a mission-driven organization committed to providing health and welfare benefits to the retirees of Local Union Nos. 175 & 505. Established as an area-wide, union-negotiated, and union-managed trust, its primary goal is to receive, preserve, and invest contributions made to the Retiree Fund. The purpose of this fund is to subsequently provide these benefits to Participants and their Beneficiaries, as outlined by the Plan, whenever feasible. The Trust Fund serves as a vital resource for retirees, ensuring their well-being and offering them essential health and welfare support.
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Impact
October, 2024
The Employer-Teamsters Local Unions No 175 & 505 Retiree Health Fund plays a crucial role in ensuring that retirees from Local Union Nos. 175 and 505 receive necessary health and welfare benefits. Located in Charleston, West Virginia, this fund operates as a union-negotiated and management-trusted health and welfare program, providing essential support to former union members and their beneficiaries.
The fund's mission revolves around managing contributions effectively to safeguard the financial health of the Retiree Fund, enabling it to deliver valuable services to participants. By preserving and investing these contributions, the fund supports various healthcare needs of retirees, which can include medical expenses, prescription drugs, and other health-related benefits.
In essence, the impact of the Employer-Teamsters Local Unions No 175 & 505 Retiree Health Fund is significant, providing a safety net for retirees, enhancing their quality of life, and ensuring they have access to the healthcare resources they need in their retirement years.
This information is meant to be a general summary of Employer-Teamsters Local Unions No 175 & 505 Retiree Health 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.
- Program Service Revenue: $3,285,369
- Gross Receipts: $3,285,369
Assets and Liabilities:
- Total Assets: $0
- Total Liabilities: $0
- Net Assets: $0
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Retiree Self-Pay
Revenue
$2,097,105
Employer Contributions
Revenue
$1,232,000
Health & Welfare Subsi
Revenue
-$43,736
Organization Details
Founding Year
2014
Phone
(304) 925-4181Principal Officer
Frank T Litton Jr
Main Address
6810 MacCorkle Avenue SE, Charleston, WV, 25304
NTEE Category
Code: Y20 - Mutual benefit
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