Overview
What is Laborers-Employers Benefit Plan Collection Trust?
The Laborers-Employers Benefit Plan Collection Trust is a nonprofit organization headquartered in Washington, D.C., specifically at 905 16th Street NW. Their primary mission is to streamline the collection and distribution of fringe benefits for various employers. With a small workforce of nine individuals, they have processed a significant volume of hours, totaling over 112 million from 2018 to 2022. The organization handles the central collection and redistribution of contributions, ensuring the efficient flow of fridge benefits.
Is Laborers-Employers Benefit Plan Collection Trust legitimate?
Laborers-Employers Benefit Plan Collection Trust is a legitimate nonprofit organization registered as a 501(c)(5) entity. Laborers-Employers Benefit Plan Collection 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: $680,097
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What is the mission statement of Laborers-Employers Benefit Plan Collection Trust?
The Laborers-Employers Benefit Plan Collection Trust is dedicated to streamlining the collection and distribution of fringe benefits. Its primary mission involves acting as a central hub for this important process. In 2018, the Trust processed approximately 31.5 million hours, followed by 25.6 million hours in 2019, 19.2 million hours in 2020, and 19.6 million hours in 2021. As of 2022, the Trust has processed over 16.6 million hours. By efficiently managing the collection and distribution of benefits, the Trust plays a crucial role in ensuring the smooth operation of various employment benefit programs.
Who is the CEO of Laborers-Employers Benefit Plan Collection Trust?
Terrence M Healy is the Trustee of Laborers-Employers Benefit Plan Collection Trust.
What is the revenue of Laborers-Employers Benefit Plan Collection Trust?
Laborers-Employers Benefit Plan Collection Trust's revenue in 2022 was $316,415,067.
Who are the executives of Laborers-Employers Benefit Plan Collection Trust and what are their salaries?
The average compensation at Laborers-Employers Benefit Plan Collection Trust during 2022 was $75,566. There are 9 employees at Laborers-Employers Benefit Plan Collection Trust.
Here are 9 key members and their salaries:
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- Compensation: $107,463
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- Other: $71,739
Where can I find the form 990 for Laborers-Employers Benefit Plan Collection Trust?
Laborers-Employers Benefit Plan Collection Trust's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Laborers-Employers Benefit Plan Collection Trust
The Laborers-Employers Benefit Plan Collection Trust (LEBPCT) is a vital organization dedicated to streamlining the collection and distribution of fringe benefits for its contributing parties. Its primary mission revolves around centralizing the collection and dispersal of these benefits, ensuring a seamless process for all involved.
LEBPCT processes impressive hours each year, with an approximate total of over 31.5 million hours having been handled in 2018, 25.6 million hours in 2019, 19.2 million hours in 2020, 19.6 million hours in 2021, and 16.6 million hours up to the current year, 2022. The organization's continuous success in managing these hours demonstrates its efficiency and commitment to facilitating the collection and distribution of fringe benefits. By taking on this essential role, LEBPCT enables organizations and their employees to focus on their respective core activities while trusting the Trust to handle the complexities of benefits processing.
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Impact
October, 2024
Laborers-Employers Benefit Plan Collection Trust plays a crucial role in the collection and distribution of contributions and benefits for laborers. By managing the central collection of fringe benefits, the Trust ensures that funds are appropriately gathered and allocated, which directly impacts the financial well-being of workers in the labor sector.
In recent years, the Trust has processed a substantial number of hours, reflecting its effectiveness and the demand for its services. For instance, in 2018, over 31.5 million hours were processed, a figure that demonstrates a consistent level of activity and the Trust's ongoing commitment to facilitating worker benefits. This dedication helps ensure that laborers receive the compensation and health benefits they are entitled to, contributing to a more stable workforce. The decrease in processed hours over the years—from 31.5 million in 2018 to 16.6 million in 2022—could indicate changing labor dynamics or evolving industry needs, further emphasizing the importance of the Trust in adapting to and addressing these trends.
Overall, the Trust significantly influences the employment landscape by safeguarding and efficiently managing the benefits that support laborers and their families.
This information is meant to be a general summary of Laborers-Employers Benefit Plan Collection 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: $28,811
- Program Service Revenue: $316,244,136
- Gross Receipts: $316,415,067
Assets and Liabilities:
- Total Assets: $3,300,192
- Total Liabilities: $3,438,794
- Net Assets: -$138,602
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
EMPLOYER CONTRIBUTIONS
Revenue
$314,913,626
PROCESSING FEES
Revenue
$1,330,510
Organization Details
Founding Year
1994
Phone
(202) 393-7344Principal Officer
Terrence M Healy
Main Address
905 16TH STREET NW, WASHINGTON, DC, 20006
NTEE Category
Code: J40 - Employment
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