Overview
What is Global Aerospace Inc Post Retirement Medical Trust?
Global Aerospace Inc Post Retirement Medical Trust is a charitable entity established on January 1, 2017, with the primary objective of providing medical, prescription, vision, and dental benefits to participants enrolled in the Global Aerospace Post-Retirement Medical Plan. The trust is headquartered in Morris Plains, New Jersey, and its assets are managed and invested by its trustees with the goal of exclusively benefiting the plan participants. The company contributes to the trust in accordance with applicable laws and regulations, and the funding amount may be determined and paid out based on mutually agreed terms and conditions. The trust's purpose is to ensure the long-term availability of healthcare benefits for its participants.
Official website here: www.global-aero.com
Is Global Aerospace Inc Post Retirement Medical Trust legitimate?
Global Aerospace Inc Post Retirement Medical Trust is a legitimate nonprofit organization registered as a 501(c)(9) entity. Global Aerospace Inc Post Retirement Medical 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
For more financial information, click here
Official website here: www.global-aero.com
What is the mission statement of Global Aerospace Inc Post Retirement Medical Trust?
The Global Aerospace Inc Post Retirement Medical Trust has a mission to provide medical, prescription, vision, and dental benefits to its participants, as outlined in the Global Aerospace Post-Retirement Medical Plan. This mission is carried out through the administration of the trust, with the funds and earnings being utilized exclusively for the benefit of the plan participants. The company periodically evaluates the funding of the plan and determines the amount to be contributed, ensuring the plan is funded in accordance with relevant laws and regulations. The trustees are responsible for investing and reinvesting the trust fund assets, and distributing or transferring assets as directed by the company or service administrator.
Official website here: www.global-aero.com
Who is the CEO of Global Aerospace Inc Post Retirement Medical Trust?
John Kelly is the Trustee of Global Aerospace Inc Post Retirement Medical Trust.
Official website here: www.global-aero.com
What is the revenue of Global Aerospace Inc Post Retirement Medical Trust?
Global Aerospace Inc Post Retirement Medical Trust's revenue in 2022 was $206,313.
Official website here: www.global-aero.com
Who are the executives of Global Aerospace Inc Post Retirement Medical Trust and what are their salaries?
There 4 volunteers at Global Aerospace Inc Post Retirement Medical Trust.
Here are 4 key members and their salaries:
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Official website here: www.global-aero.com
Where can I find the form 990 for Global Aerospace Inc Post Retirement Medical Trust?
Global Aerospace Inc Post Retirement Medical Trust's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.global-aero.com
Learn more at the official website: www.global-aero.com
Mission Statement of Global Aerospace Inc Post Retirement Medical Trust
The Global Aerospace Inc Post Retirement Medical Trust was established with a specific mission: to provide medical, prescription, vision, and dental benefits to its participants, as outlined in the Global Aerospace Post-Retirement Medical Plan. This mission is carried out with the exclusive purpose of ensuring the well-being of those enrolled in the plan, utilizing the trust's assets and earnings solely for this purpose. The trust's activities are governed by various laws and regulations, including ERISA, and the company responsible for the plan has the freedom to determine the funding method and manner, subject to these regulations. The company's contributions to the plan are subject to evaluation and adjustment to ensure its lawful funding. The trustees are responsible for managing, investing, and reinvesting the fund's assets, and distributing or transferring assets as directed by the company or service administrator. In essence, the Global Aerospace Inc Post Retirement Medical Trust is committed to providing comprehensive healthcare benefits to its participants, ensuring their well-being in retirement.
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Impact
October, 2024
Global Aerospace Inc Post Retirement Medical Trust plays a significant role in supporting the healthcare needs of retirees associated with Global Aerospace. Established on January 1, 2017, the Trust provides essential medical, prescription, vision, and dental benefits as outlined in the Global Aerospace Post-Retirement Medical Plan. Its primary focus is to ensure that plan participants receive the necessary healthcare coverage, promoting their well-being during retirement.
The Trust is structured to fund these benefits responsibly, adhering to regulations set out by ERISA and relevant state insurance laws. This ensures that funding for the plan is secure and compliant with legal requirements, thereby safeguarding the financial health of the benefits provided. The Trustees are tasked with managing the Trust’s assets effectively, which includes making prudent investment decisions to maximize returns that directly benefit the participants.
By evaluating the funding needs of the plan on an ongoing basis, the Trust can adjust contributions accordingly, further ensuring that retirees have access to the healthcare services they require. This reliable mechanism of healthcare support not only alleviates financial burdens for retirees but also enhances their quality of life post-retirement. Through its dedicated mission, the Trust serves as a critical resource for retirees, signifying a commitment to their health and well-being.
This information is meant to be a general summary of Global Aerospace Inc Post Retirement Medical 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: $109,176
- Program Service Revenue: $97,137
- Gross Receipts: $206,313
Assets and Liabilities:
- Total Assets: $2,558,591
- Total Liabilities: $28,776
- Net Assets: $2,529,815
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PLAN CONTRIBUTIONS
Revenue
$97,137
Organization Details
Founding Year
2017
Phone
(973) 490-8550Principal Officer
John Kelly
Main Address
115 TABOR ROAD 3A, MORRIS PLAINS, NJ, 07950
Website
www.global-aero.comNTEE Category
Code: Y43 - Mutual benefit
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