Overview
What is Raytheon Welfare Benefits Trust?
Raytheon Welfare Benefits Trust is a trust established for the sole benefit of eligible employees of the employer, their dependents, and designated beneficiaries. Based in Farmington, Connecticut, the trust's primary mission is to collect and manage employee contributions, and in turn, pay out employee benefits, commonly referred to as claims. The trust agreement is intended to adhere to the provisions of the Internal Revenue Code regarding Voluntary Employees' Benefit Associations (VEBAs). It serves to provide exclusive benefits to eligible individuals, ensuring their well-being and financial security.
What are the reviews and ratings of this charity?
The Raytheon Welfare Benefits Trust is not currently rated by Charity Navigator due to its classification as an entity other than a 501(c)(3) nonprofit, which precludes a standard assessment by the platform. Charity Navigator typically evaluates organizations based on several metrics, including Accountability & Finance, which are not applicable here given the trust's independent status.
This absence of rating should not be interpreted as indicative of the trust's effectiveness or impact. Charity Navigator's methodologies focus on IRS-registered 501(c)(3) nonprofits, emphasizing governance and financial transparency. Therefore, the Raytheon Welfare Benefits Trust's current non-qualification for these metrics means its operational specifics remain largely undocumented in public financial terms.
As for additional feedback or insights, user reviews appear to be unavailable on GreatNonprofits. Consequently, community sentiments or personal experiences with the trust cannot be provided for further context.
This AI summary has been generated from information found on Charity Navigator.
Is Raytheon Welfare Benefits Trust legitimate?
Raytheon Welfare Benefits Trust is a legitimate nonprofit organization registered as a 501(c)(9) entity. Raytheon Welfare Benefits 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: $311
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Raytheon Welfare Benefits Trust?
The Raytheon Welfare Benefits Trust is established to exclusively provide benefits for eligible employees, their dependents, and designated beneficiaries. The trust's primary objective is to collect employee contributions and pay out employee benefits, as outlined in the trust agreements. The intentions of Raytheon, the employer, are to ensure the trust complies with the provisions of the Internal Revenue Code relating to Voluntary Employees' Beneficiary Associations (VEBAs). The trust serves to enhance the well-being of its participants by managing and distributing benefits as per the agreement.
Who is the CEO of Raytheon Welfare Benefits Trust?
Bny Mellon is the Principal Officer of Raytheon Welfare Benefits Trust.
What is the revenue of Raytheon Welfare Benefits Trust?
Raytheon Welfare Benefits Trust's revenue in 2022 was $57,208,140.
Who are the executives of Raytheon Welfare Benefits Trust and what are their salaries?
There is 1 key member and their salary:
- Compensation: $311
- Related: $0
- Other: $0
Where can I find the form 990 for Raytheon Welfare Benefits Trust?
Raytheon Welfare Benefits Trust's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Raytheon Welfare Benefits Trust
Raytheon Welfare Benefits Trust is a charitable trust established to extend exclusive benefits to eligible employees of the employer, along with their dependents and designated beneficiaries. The trust serves as a vital conduit for collecting employee contributions and processing benefit claims in accordance with the trust agreements. The trust's primary intention, as intended by Raytheon, is to ensure compliance with the Internal Revenue Code (IRC) provisions concerning Voluntary Employees' Beneficiary Associations (VEBAs). By providing these benefits, Raytheon Welfare Benefits Trust aims to enhance the overall well-being and financial security of its beneficiaries. The trust's operations offer a safety net, offering peace of mind to its members as they navigate the complexities of employment benefits. The trust's commitment to meeting the needs of its beneficiaries aligns with Raytheon's intention to create a comprehensive and satisfying benefits package for its employees.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
October, 2024
Raytheon Welfare Benefits Trust significantly impacts eligible employees and their dependents by providing exclusive benefits designed to support their well-being. By collecting employee contributions and overseeing the disbursement of employee benefits and claims, the trust ensures that financial assistance is available during times of need. This structured approach allows for a clear understanding of benefits among employees, enhancing their security and reducing financial stress.
Operating in Farmington, CT, the trust serves a vital role in promoting employee welfare by adhering to provisions that align with the Internal Revenue Code regarding Voluntary Employee Beneficiary Associations (VEBAs). The trust is dedicated to interpreting its agreements in a manner that remains consistent with these regulations, reflecting Raytheon's commitment to its workforce. By acting as a safety net for eligible employees, their dependents, and designated beneficiaries, the Raytheon Welfare Benefits Trust fosters a supportive environment that enhances employee morale and retention.
This information is meant to be a general summary of Raytheon Welfare Benefits 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: $6,988
- Program Service Revenue: $57,201,152
- Gross Receipts: $57,208,140
Assets and Liabilities:
- Total Assets: $3,106,524
- Total Liabilities: $0
- Net Assets: $3,106,524
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
EMPLOYER CONTRIBUTIONS
Revenue
$22,000,000
EMPLOYEE CONTRIBUTIONS
Revenue
$35,201,152
Organization Details
Founding Year
1997
Phone
(617) 382-2830Principal Officer
Bny Mellon
Main Address
4 Farm Springs Road Pen Invest, FARMINGTON, CT, 06032
NTEE Category
Code: Y43 - Mutual benefit
If you are a representative of Raytheon Welfare Benefits Trust and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.