Overview
What is Arvest Bank Group Employees Health Benefit Trust?
Arvest Bank Group Employees Health Benefit Trust is a nonprofit organization established to offer health care benefits to employees and their dependents of the Arvest Bank Group. Based in Lowell, Arkansas, the Trust had approximately 5,458 employees and their relatives covered under its health care program as of December 31, 2022. It functions as a Voluntary Employees' Beneficiary Association (VEBA) with a mission to collect contributions from its employees and provide health benefits to eligible members.
Is Arvest Bank Group Employees Health Benefit Trust legitimate?
Arvest Bank Group Employees Health Benefit Trust is a legitimate nonprofit organization registered as a 501(c)(9) entity. Arvest Bank Group Employees Health 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 Arvest Bank Group Employees Health Benefit Trust?
The Arvest Bank Group Employees Health Benefit Trust is a trust established to extend health care benefits to employees and their dependents. Its primary objective is to collect contributions from employees and distribute health benefits to those covered under the trust. With a coverage of 5,458 individuals as of December 31, 2022, the trust aims to enhance the wellbeing of its members by managing and providing health care benefits.
Who is the CEO of Arvest Bank Group Employees Health Benefit Trust?
Michelle Van Schenck is the Trustee of Arvest Bank Group Employees Health Benefit Trust.
What is the revenue of Arvest Bank Group Employees Health Benefit Trust?
Arvest Bank Group Employees Health Benefit Trust's revenue in 2022 was $49,904,097.
Who are the executives of Arvest Bank Group Employees Health Benefit Trust and what are their salaries?
There 5 volunteers at Arvest Bank Group Employees Health Benefit Trust.
Here are 5 key members and their salaries:
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Where can I find the form 990 for Arvest Bank Group Employees Health Benefit Trust?
Arvest Bank Group Employees Health Benefit Trust's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Arvest Bank Group Employees Health Benefit Trust
Arvest Bank Group Employees Health Benefit Trust is a Veterans' Educational and Assistance Program (VEBA) established to extend health care benefits to the dependents and employees of the Arvest Bank Group. The Trust's primary objective is to collect contributions from its employees and provide them with comprehensive health benefits in return.
This charitable trust plays a significant role in ensuring the well-being of its beneficiaries. By pooling resources and offering health coverage, it enables employees and their dependents to access medical services and maintain their overall health. With a commitment to providing essential health benefits, Arvest Bank Group Employees Health Benefit Trust helps secure peace of mind for its members.
As of December 31, 2022, a total of 5,458 employees and their dependents were enrolled in the health benefits scheme provided by the Trust. This number underscores the extensive reach and impact of the Trust in supporting the health needs of its beneficiaries. By focusing on the provision of health benefits, Arvest Bank Group Employees Health Benefit Trust demonstrates its unwavering dedication to the well-being of its employees and their families.
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Impact
October, 2024
Arvest Bank Group Employees Health Benefit Trust plays a crucial role in supporting the health and well-being of employees and their dependents. By offering health care benefits, the Trust ensures that a significant number of individuals—specifically 5,458 employees and their dependents as of the end of 2022—have access to essential medical care. This support not only contributes to the overall health of the workforce but also fosters loyalty and commitment among employees.
The Trust operates by receiving contributions from employees, which are then utilized to provide comprehensive health benefits. This model not only alleviates the financial burden of healthcare costs for employees and their families but also promotes a healthier, more productive workforce. By prioritizing the health of its employees, the Trust enhances employee satisfaction and retention, ultimately benefiting the organization as a whole through improved morale and productivity.
This information is meant to be a general summary of Arvest Bank Group Employees Health 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: $80,208
- Program Service Revenue: $49,823,889
- Gross Receipts: $49,904,097
Assets and Liabilities:
- Total Assets: $9,509,512
- Total Liabilities: $0
- Net Assets: $9,509,512
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
EMPLOYER PREMIUMS
Revenue
$35,410,890
EMPLOYEE PREMIUMS
Revenue
$14,410,244
STOP-LOSS INSURANCE
Revenue
$2,755
Organization Details
Founding Year
1986
Phone
(479) 750-6080Principal Officer
Michelle Van Schenck
Main Address
PO BOX 2136, LOWELL, AR, 72745
NTEE Category
Code: Y40 - Mutual benefit
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