Overview
What is Bank Of America Group Benefits Program Trust?
The Bank of America Group Benefits Program Trust serves as a trust that offers welfare benefit plans for Bank of America employees and their dependents. These plans encompass various aspects of wellbeing, including life, sickness, accident, medical, disability, and severance benefits. By providing these diverse offerings, the Trust aims to support and protect the financial and health-related needs of Bank of America's workforce.
What are the reviews and ratings of this charity?
Based on the information from Charity Navigator, the Bank Of America Group Benefits Program Trust is not currently rated, as it does not meet their evaluation criteria. Charity Navigator requires organizations to be registered as 501(c)(3) nonprofits to provide ratings, and this organization does not hold such a status. Consequently, it cannot be assessed using the standard Accountability & Finance or Impact & Measurement methodologies.
The absence of a rating should not be construed as a negative reflection of the organization but rather an indication that it falls outside Charity Navigator's scope. Historical data from similar evaluations typically considered factors like Accountability and Finance, which are inapplicable here. Nonetheless, it remains an independent entity, with its organizational profile accessible via the IRS for those seeking additional details.
There are no user reviews available for the Bank Of America Group Benefits Program Trust on GreatNonprofits. Thus, no specific feedback from beneficiaries or stakeholders is included.
This AI summary has been generated from information found on Charity Navigator.
Is Bank Of America Group Benefits Program Trust legitimate?
Bank Of America Group Benefits Program Trust is a legitimate nonprofit organization registered as a 501(c)(9) entity. Bank Of America Group Benefits Program 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: $81,238
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Bank Of America Group Benefits Program Trust?
The Bank of America Group Benefits Program Trust is dedicated to offering welfare benefit plans to employees and their dependents. These plans encompass various aspects of wellbeing, including life, sickness, accident, medical, disability, and severance. The Trust's primary goal is to provide essential benefits that protect and support the well-being of its beneficiaries, ensuring they can face life's challenges with greater peace of mind. By offering an extensive range of benefits, the Trust aims to promote financial and emotional security for those it serves.
Who is the CEO of Bank Of America Group Benefits Program Trust?
Unavailable
What is the revenue of Bank Of America Group Benefits Program Trust?
Bank Of America Group Benefits Program Trust's revenue in 2022 was $2,534,814,259.
Who are the executives of Bank Of America Group Benefits Program Trust and what are their salaries?
There is 1 key member and their salary:
- Compensation: $81,238
- Related: $0
- Other: $0
Where can I find the form 990 for Bank Of America Group Benefits Program Trust?
Bank Of America Group Benefits Program Trust's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Bank Of America Group Benefits Program Trust
The Bank of America Group Benefits Program Trust is a dedicated entity that focuses on extending welfare benefit plans to employees and their dependents. With a commitment to enhancing the wellbeing of its workforce, this trust offers a range of plans encompassing life, sickness, accident, medical, disability, severance, and other similar benefits. By providing these essential coverage options, Bank of America Group Benefits Program Trust aims to ensure that employees and their loved ones are protected and supported during various stages of life.
In pursuit of its mission, the trust meticulously curates and administers these welfare benefit plans, offering peace of mind and financial security to those it serves. Each benefit plan is designed to address distinct aspects of an individual's wellbeing, providing comprehensive coverage for life's uncertainties. The trust's unwavering dedication to its mission reflects its belief that the provision of these essential benefits plays a crucial role in fostering a workforce that remains focused, engaged, and resilient.
By offering these welfare benefit plans, Bank of America Group Benefits Program Trust demonstrates its unwavering commitment to the wellbeing of its employees and their families. The trust's offerings enable individuals to weather life's challenges with greater ease and assurance, allowing them to concentrate on their work and personal lives with confidence. In doing so, Bank of America Group Benefits Program Trust fosters a culture of support and care, underscoring its importance as a trusted partner and advocate for its employees.
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Impact
October, 2024
The Bank of America Group Benefits Program Trust significantly enhances the well-being of employees and their dependents by offering a comprehensive array of welfare benefit plans. These plans cover crucial areas such as life, sickness, accident, medical care, disability, and severance. By providing these essential benefits, the Trust helps ensure that employees have access to necessary resources during challenging times, promoting financial security and peace of mind. The program fosters a supportive work environment, which can lead to increased employee satisfaction and retention, ultimately benefiting the organization as a whole. Through its commitment to employee welfare, the Trust not only addresses immediate health and financial needs but also contributes to the overall resilience of the workforce.
This information is meant to be a general summary of Bank Of America Group Benefits Program 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: $2,696,469
- Program Service Revenue: $2,532,117,790
- Gross Receipts: $2,534,814,259
Assets and Liabilities:
- Total Assets: $431,386,467
- Total Liabilities: $0
- Net Assets: $431,386,467
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
EMPLOYEE CONTRIBUTIONS
Revenue
$742,598,901
EMPLOYER CONTRIBUTIONS
Revenue
$1,789,518,889
Organization Details
Founding Year
1998
Phone
(888) 866-3275Main Address
PO BOX 653067, DALLAS, TX, 752653067
NTEE Category
Code: Y43 - Mutual benefit
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