Overview
What is Virginia Bankers Association Medical And?
The Virginia Bankers Association Medical Trust is a nonprofit organization that manages the funds and insurance policies for the group welfare benefit plans sponsored by the Virginia Bankers Association for its member organizations' employees and their dependents. By holding these resources, the trust ensures the availability and continuity of healthcare benefits for the association's membership.
Is Virginia Bankers Association Medical And legitimate?
Virginia Bankers Association Medical And is a legitimate nonprofit organization registered as a 501(c)(9) entity. Virginia Bankers Association Medical And 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.
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What is the mission statement of Virginia Bankers Association Medical And?
The Virginia Bankers Association Medical Trust serves as the custodian of the funds and insurance policies for the group health benefit plans sponsored by the Virginia Bankers Association for the employees and beneficiaries of its membership. The trust's primary role is to manage and maintain these benefit plans, ensuring the financial stability and continuity of the health coverage provided to those within the association. The trust's mission is geared towards the wellbeing and health security of the individuals affiliated with the Virginia Bankers Association.
Who is the CEO of Virginia Bankers Association Medical And?
Truist Bank is the Board Member of Virginia Bankers Association Medical And.
What is the revenue of Virginia Bankers Association Medical And?
Virginia Bankers Association Medical And's revenue in 2022 was $79,067,523.
Who are the executives of Virginia Bankers Association Medical And and what are their salaries?
Here are 13 key members and their salaries:
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Where can I find the form 990 for Virginia Bankers Association Medical And?
Virginia Bankers Association Medical And's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Virginia Bankers Association Medical And
The Virginia Bankers Association Medical and Trust, also known as VEBA Trust, plays a vital role in administering the group welfare benefit plans for the employees and their beneficiaries of the Virginia Bankers Association. This trust holds the financial resources and insurance policies that ensure the provision of essential health benefits for the members of the association.
By managing these plans, VEBA Trust enables the Virginia Bankers Association to offer its membership competitive and comprehensive health benefits. The trust's mission is to ensure that the employees and their families of the member banks receive the necessary healthcare coverage, providing them with peace of mind and financial security.
The administration of these group welfare benefit plans by VEBA Trust results in more streamlined and efficient processes for the Virginia Bankers Association and its members. By handling the financial aspects of the plans, the association can focus on serving the banking needs of its members, thereby allowing them to concentrate on their core business functions. Additionally, the trust's management of these plans enables the association to negotiate favorable rates and coverage terms on behalf of its members, leading to cost savings and improved benefits.
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Impact
October, 2024
Virginia Bankers Association Medical And plays a significant role in enhancing the health and well-being of employees and beneficiaries associated with the Virginia Bankers Association. By administering the VEBA Trust, it effectively manages funds and insurance policies that support various group health benefit plans tailored for banking professionals in the region.
This initiative not only helps in providing essential healthcare benefits but also fosters a sense of community and mutual support among its members. By offering a structured approach to manage health benefits, it alleviates financial stress related to healthcare needs, ensuring that employees have access to necessary medical services.
Ultimately, Virginia Bankers Association Medical And strengthens the workforce by promoting a healthier employee base, which can lead to improved job satisfaction and productivity within member organizations. Through its impactful programs, it reinforces the commitment of the Virginia Bankers Association to the welfare of its members and their families, demonstrating a dedicated effort to enhance the quality of life in the banking sector.
This information is meant to be a general summary of Virginia Bankers Association Medical And. 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: $367,772
- Program Service Revenue: $78,699,751
- Gross Receipts: $79,067,523
Assets and Liabilities:
- Total Assets: $28,676,501
- Total Liabilities: $11,221,030
- Net Assets: $17,455,471
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INSURANCE PREMIUMS
Revenue
$78,699,751
Organization Details
Founding Year
1989
Phone
(804) 273-7445Principal Officer
Truist Bank
Main Address
PO BOX 919798, ORLANDO, FL, 328919798
NTEE Category
Code: Y40 - Mutual benefit
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