Overview
What is Lam Research Corporation Short Term Disability Trust?
Lam Research Corporation Short Term Disability Trust is a self-insured health and welfare plan, established by Lam Research Corporation's board of directors. This nonprofit entity provides short-term disability benefits to eligible participants, including a partial wage replacement for employees who temporarily cannot work due to sickness, injury, or pregnancy. The plan is voluntary and available to all U.S. employees of the company, excluding those in California. The trust operates from Fremont, California, providing crucial support to its participants during their temporary inability to work.
Is Lam Research Corporation Short Term Disability Trust legitimate?
Lam Research Corporation Short Term Disability Trust is a legitimate nonprofit organization registered as a 501(c)(9) entity. Lam Research Corporation Short Term Disability 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 Lam Research Corporation Short Term Disability Trust?
The Lam Research Corporation Short Term Disability Trust, established by the company's board of directors, is a self-insured health and welfare plan. This plan provides short-term disability benefits to eligible participants, including all U.S. employees outside of California who choose to participate. In the event of temporary inability to work due to sickness, injury, or pregnancy, eligible employees receive a partial wage replacement. The objective of this trust is to offer financial support during such periods, ensuring a degree of financial stability for the affected individuals.
Who is the CEO of Lam Research Corporation Short Term Disability Trust?
Dana Grossman-Gormley is the Director of Lam Research Corporation Short Term Disability Trust.
What is the revenue of Lam Research Corporation Short Term Disability Trust?
Lam Research Corporation Short Term Disability Trust's revenue in 2022 was $5,499,252.
Who are the executives of Lam Research Corporation Short Term Disability 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
Where can I find the form 990 for Lam Research Corporation Short Term Disability Trust?
Lam Research Corporation Short Term Disability Trust's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Lam Research Corporation Short Term Disability Trust
Lam Research Corporation Short Term Disability Trust, a self-insured health and welfare plan, is committed to providing short-term disability benefits to eligible participants. Adopted by the board of directors of Lam Research Corporation, this voluntary plan is accessible to all US employees of the company, excluding those based in California. Participants who opt into this plan receive a partial wage replacement when they temporarily cannot work due to sickness, injury, or pregnancy. The mission of this trust is to offer financial support during periods of temporary incapacity, thereby alleviating the financial burden and enabling individuals to focus on their recovery.
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Impact
October, 2024
Lam Research Corporation Short Term Disability Trust provides crucial financial support to eligible employees who experience temporary inability to work due to sickness, injury, or pregnancy. By offering a partial replacement of lost wages, the Trust plays a significant role in alleviating the financial burdens that can arise during periods of disability. This support not only helps employees maintain their financial stability during challenging times but also promotes overall employee well-being and morale.
The Trust operates as a self-insured health and welfare plan, enabling Lam Research Corporation to provide these benefits directly to its workforce. Participation is voluntary, allowing employees to choose whether to opt in based on their individual needs. By ensuring that employees have access to short term disability benefits, the Trust strengthens the company's commitment to fostering a supportive work environment.
Overall, the Lam Research Corporation Short Term Disability Trust significantly impacts the lives of eligible employees by providing essential financial assistance during their recovery, ultimately contributing to a healthier and more resilient workforce.
This information is meant to be a general summary of Lam Research Corporation Short Term Disability 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: $5,499,252
- Gross Receipts: $5,499,252
Assets and Liabilities:
- Total Assets: $652,348
- Total Liabilities: $950,507
- Net Assets: -$298,159
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
COMPANY CONTRIBUTION
Revenue
$4,000,000
PARTICIPANT CONTRIBUTI
Revenue
$1,499,252
Organization Details
Founding Year
1994
Phone
(510) 659-0200Principal Officer
Dana Grossman-Gormley
Main Address
4650 CUSHING PARKWAY, FREMONT, CA, 945386401
NTEE Category
Code: Y40 - Mutual benefit
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