Overview
What is Wage Parity Trust?
Wage Parity Trust is a nonprofit organization situated in Brooklyn, New York, with the primary purpose of financing benefits that comply with the Wage Parity Act. These benefits include medical, dental, vision, prescription drug, life, accidental death & dismemberment, and health reimbursement arrangement. The Trust provides these benefits to eligible employees and their dependents who are covered under Ultimate Care, Inc.'s Health and Welfare Plan. The Trust's role is crucial in ensuring compliance with the Wage Parity Act and supporting the well-being of its beneficiaries.
Is Wage Parity Trust legitimate?
Wage Parity Trust is a legitimate nonprofit organization registered as a 501(c)(9) entity. Wage Parity 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 Wage Parity Trust?
The Wage Parity Trust was established with a mission to fund various benefits that an employer implements to adhere to the Wage Parity Act. This trust specifically pays for medical, dental, vision, prescription drug, life, accidental death and dismemberment, and health reimbursement arrangement benefits for eligible employees and their dependents who are enrolled in the Ultimate Care, Inc. Health and Welfare Plan. The primary objective of the Wage Parity Trust is to ensure these benefits are provided to the eligible individuals as required by the Wage Parity Act.
Who is the CEO of Wage Parity Trust?
Joseph Zimmerman is the Trustee of Wage Parity Trust.
What is the revenue of Wage Parity Trust?
Wage Parity Trust's revenue in 2022 was $2,193,052.
Who are the executives of Wage Parity Trust and what are their salaries?
Here are 3 key members and their salaries:
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- Related: $15,000
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Where can I find the form 990 for Wage Parity Trust?
Wage Parity Trust's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Wage Parity Trust
The Wage Parity Trust, as its name suggests, was established with a mission to fund various benefits that an employer adopts and maintains to adhere to the Wage Parity Act. This trust is responsible for providing medical, dental, vision, prescription drug, life, accidental death and dismemberment, and health reimbursement arrangement benefits to eligible employees and their dependents who are covered under the Ultimate Care, Inc. Health and Welfare Plan. In simpler terms, the Wage Parity Trust acts as a financial entity that supports a wide range of employee benefits, ensuring compliance with the Wage Parity Act and providing essential coverage to employees and their families.
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Impact
October, 2024
Wage Parity Trust significantly impacts the workforce by ensuring that eligible employees and their dependents have access to essential health benefits, aligning with the provisions of the Wage Parity Act. By funding comprehensive medical, dental, vision, and prescription drug benefits, as well as life and accidental death and dismemberment coverage, it enhances the overall well-being of employees, thereby promoting a healthier, more secure workforce.
These benefits not only contribute to employees' physical health but also support their financial stability through health reimbursement arrangements. As a result, Wage Parity Trust fosters a supportive work environment that values employee welfare, ultimately increasing job satisfaction and retention. In effect, this initiative not only complies with legal standards but also cultivates loyalty and commitment among workers, enhancing the overall productivity and reputation of the employers involved.
This information is meant to be a general summary of Wage Parity 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.
- Program Service Revenue: $2,193,052
- Gross Receipts: $2,193,052
Assets and Liabilities:
- Total Assets: $931,278
- Total Liabilities: $378,224
- Net Assets: $553,054
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Employer Conbtributions
Revenue
$2,193,052
Organization Details
Founding Year
2020
Phone
(718) 257-0702Principal Officer
Joseph Zimmerman
Main Address
1000 Gates Avenue 4th Floor, Brooklyn, NY, 11221
NTEE Category
Code: Y40 - Mutual benefit
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