Overview
What is Hl&P Retirees' Life Insurance?
Hl&P Retirees' Life Insurance is a nonprofit organization based in Houston, Texas. The primary purpose of this organization is to establish a trust that receives contributions from the company and participating individuals. The trust's main function is to provide life insurance benefits to eligible retired employees of the company, their beneficiaries, or estates. This is achieved through a VEBA trust, which is a type of employee benefit trust commonly used to fund retiree health benefits. The organization's mission is to ensure financial security for its retired employees in the event of their passing.
Is Hl&P Retirees' Life Insurance legitimate?
Hl&P Retirees' Life Insurance is a legitimate nonprofit organization registered as a 501(c)(9) entity. Hl&P Retirees' Life Insurance 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 Hl&P Retirees' Life Insurance?
Hl&P Retirees' Life Insurance was established with a mission to receive contributions from the company and its participants, and subsequently, provide life insurance benefits to eligible retired employees, their beneficiaries, or estates. The organization's primary function is to manage this trust, ensuring the timely payment of these benefits as per the agreement. The program includes a VEBA trust, which serves as a vehicle for providing life insurance coverage. This mission aims to offer financial security and peace of mind to retired employees and their loved ones during their post-employment years.
Who is the CEO of Hl&P Retirees' Life Insurance?
Brad Tutunjian is the Chairman of Hl&P Retirees' Life Insurance.
What is the revenue of Hl&P Retirees' Life Insurance?
Hl&P Retirees' Life Insurance's revenue in 2022 was $411,195.
Who are the executives of Hl&P Retirees' Life Insurance and what are their salaries?
Here are 7 key members and their salaries:
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- Compensation: $3,630
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Where can I find the form 990 for Hl&P Retirees' Life Insurance?
Hl&P Retirees' Life Insurance's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Hl&P Retirees' Life Insurance
Hl&P Retirees' Life Insurance, as a trust, was established with a mission to receive both company and participant contributions. The primary objective of this nonprofit organization is to provide life insurance benefits to eligible retired employees of the company, their beneficiaries, or estates. This mission is carried out through the implementation of a VEBA (Voluntary Employees' Beneficiary Association) trust, which serves as the vehicle for distributing these life insurance benefits. The trust ensures financial security for retired employees and their families, offering peace of mind during this stage of life.
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Impact
October, 2024
Hl&P Retirees' Life Insurance plays a vital role in providing financial security to eligible retired employees of the company and their beneficiaries. By establishing a trust to receive contributions, the organization ensures that participants can secure life insurance benefits that protect their loved ones in the event of their passing. This program not only alleviates the financial burden on families during difficult times but also reinforces the company’s commitment to supporting its retirees.
The inclusion of a VEBA trust enhances the overall scope of benefits, allowing for a structured approach to managing contributions and disbursements effectively. This structure ensures that the funds are effectively utilized to provide necessary life insurance benefits, thereby fostering a sense of security among retirees. Overall, Hl&P Retirees' Life Insurance significantly impacts the lives of individuals and families, ensuring that the contributions made during employment translate into peace of mind and protection for the future.
This information is meant to be a general summary of Hl&P Retirees' Life Insurance. 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: $7,740
- Program Service Revenue: $403,455
- Gross Receipts: $1,532,643
Assets and Liabilities:
- Total Assets: $5,284,780
- Total Liabilities: $0
- Net Assets: $5,284,780
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
CONTRIBUTIONS
Revenue
$403,455
Organization Details
Founding Year
1997
Phone
(713) 207-1111Principal Officer
Brad Tutunjian
Main Address
1111 LOUISIANA ST 3811E, HOUSTON, TX, 770025230
NTEE Category
Code: Y40 - Mutual benefit
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