Overview
What is Sivalls Inc And Control Equipment Inc Medical Plan Trust?
Sivalls Inc and Control Equipment Inc Medical Plan Trust is a nonprofit entity, primarily located in Odessa, Texas. Its primary mission is to offer comprehensive medical benefits to the employees and their dependents, with a total allocation of $1,196,594. This includes coverage for prescription drugs, amounting to $588,410. Furthermore, the trust has secured specific stop-loss insurance coverage, valued at $658,400, and has allocated funds for administrative and audit expenses, amounting to $109,238. The trust's primary purpose is to provide life and medical insurance for its employee base, with the option for dependent coverage as well.
Official website here: www.sivalls.com
Is Sivalls Inc And Control Equipment Inc Medical Plan Trust legitimate?
Sivalls Inc And Control Equipment Inc Medical Plan Trust is a legitimate nonprofit organization registered as a 501(c)(9) entity. Sivalls Inc And Control Equipment Inc Medical Plan 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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Official website here: www.sivalls.com
What is the mission statement of Sivalls Inc And Control Equipment Inc Medical Plan Trust?
Sivalls Inc And Control Equipment Inc Medical Plan Trust's primary mission is to extend medical insurance coverage to its employees and, upon their election, to their dependents as well. The trust aims to offer life insurance coverage in addition to medical insurance for the employees. Specifically, the trust provides medical benefits totaling $1,196,594, covers prescription drug claims up to $588,410, purchases stop loss insurance coverage worth $658,400, and allocates $109,238 for administrative and audit expenses.
Official website here: www.sivalls.com
Who is the CEO of Sivalls Inc And Control Equipment Inc Medical Plan Trust?
Unavailable
Official website here: www.sivalls.com
What is the revenue of Sivalls Inc And Control Equipment Inc Medical Plan Trust?
Sivalls Inc And Control Equipment Inc Medical Plan Trust's revenue in 2021 was $3,039,609.
Official website here: www.sivalls.com
Who are the executives of Sivalls Inc And Control Equipment Inc Medical Plan Trust and what are their salaries?
Here are 2 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.sivalls.com
Where can I find the form 990 for Sivalls Inc And Control Equipment Inc Medical Plan Trust?
Sivalls Inc And Control Equipment Inc Medical Plan Trust's most recent form 990 was submitted in 2021 and can be accessed here.
Official website here: www.sivalls.com
Learn more at the official website: www.sivalls.com
Mission Statement of Sivalls Inc And Control Equipment Inc Medical Plan Trust
Sivalls Inc And Control Equipment Inc Medical Plan Trust, as per its mission, serves to extend life insurance and medical insurance benefits to its employees and offers medical insurance to the dependents of its employees, should they choose to do so. The organization's primary goal is to ensure the financial well-being of its employees in case of unforeseen circumstances and to provide them with comprehensive healthcare coverage. The trust funds an allotment of $1,196,594 for medical benefits, covers prescription drug claims up to $588,410, and purchases specific stop loss insurance coverage amounting to $658,400. Furthermore, they invest in administrative and audit expenses, totaling $109,238, to ensure the efficient and effective execution of their mission.
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Impact
October, 2024
Sivalls Inc And Control Equipment Inc Medical Plan Trust significantly impacts the well-being of its employees and their families by providing comprehensive life and medical insurance coverage. With a total of $1,196,594 dedicated to medical benefits, the trust ensures that employees have access to necessary healthcare services, which contributes to their overall health and productivity.
In addition to general medical coverage, the trust offers substantial support for prescription drug claims, amounting to $588,410. This financial backing alleviates the burden of healthcare costs for employees, allowing them to focus on their work and personal lives without the stress of mounting medical expenses.
The trust's commitment to managing risk through specific stop loss insurance coverage, costing $658,400, further enhances its ability to provide consistent and reliable healthcare benefits. This proactive approach safeguards against unexpected high-cost medical claims, ensuring the sustainability of the insurance plan.
Moreover, with administrative and audit expenses totaling $109,238, the trust maintains efficient operations, ensuring that employees receive timely and accurate service regarding their benefits.
Overall, the Sivalls Inc And Control Equipment Inc Medical Plan Trust plays a crucial role in promoting employee satisfaction, retention, and peace of mind by offering essential life and medical insurance benefits.
This information is meant to be a general summary of Sivalls Inc And Control Equipment Inc Medical Plan 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 2021.
- Investment Income: $315
- Program Service Revenue: $3,039,294
- Gross Receipts: $3,039,609
Assets and Liabilities:
- Total Assets: $465,939
- Total Liabilities: $0
- Net Assets: $465,939
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Employer Contribution
Revenue
$2,657,154
Employee Contribution
Revenue
$382,140
Organization Details
Founding Year
1981
Phone
(432) 337-3571Main Address
PO BOX 2792, ODESSA, TX, 797602792
Website
www.sivalls.comNTEE Category
Code: Y40 - Mutual benefit
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