Overview
What is Young Brothers Limited Veba Trust For Bargaining Unit Employees?
Young Brothers Limited Veba Trust for Bargaining Unit Employees is a nonprofit organization, specifically a Voluntary Employees' Beneficiary Association (VEBA) trust, situated in Honolulu, Hawaii. Its primary objective is to offer post-retirement benefits, including group life insurance and healthcare coverage, prescription drug coverage, and vision benefits, to eligible retired bargaining unit employees of Young Brothers, Limited. The trust aims to provide a safety net for these employees after their retirement, ensuring they continue to receive essential benefits.
Is Young Brothers Limited Veba Trust For Bargaining Unit Employees legitimate?
Young Brothers Limited Veba Trust For Bargaining Unit Employees is a legitimate nonprofit organization registered as a 501(c)(9) entity. Young Brothers Limited Veba Trust For Bargaining Unit Employees 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 Young Brothers Limited Veba Trust For Bargaining Unit Employees?
The Young Brothers Limited Veba Trust for Bargaining Unit Employees is established with a mission to provide postretirement benefits. Specifically, this organization aims to offer postretirement health and group life insurance benefits to eligible bargaining unit employees of Young Brothers, Ltd. Upon retirement, an active bargaining unit employee who has qualified for a pension benefit on the date of termination under the Young Brothers, Ltd. Pension Plan becomes eligible to receive these postretirement benefits from this trust. The trust serves as a voluntary employees' beneficiary association, ensuring financial security and support for its eligible members during their retirement years.
What is the revenue of Young Brothers Limited Veba Trust For Bargaining Unit Employees?
Young Brothers Limited Veba Trust For Bargaining Unit Employees's revenue in 2023 was $79,482.
Who are the executives of Young Brothers Limited Veba Trust For Bargaining Unit Employees and what are their salaries?
There 4 volunteers at Young Brothers Limited Veba Trust For Bargaining Unit Employees.
Here are 5 key members and their salaries:
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- Other: $0
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- Compensation: $29,826
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- Other: $0
Where can I find the form 990 for Young Brothers Limited Veba Trust For Bargaining Unit Employees?
Young Brothers Limited Veba Trust For Bargaining Unit Employees's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Young Brothers Limited Veba Trust For Bargaining Unit Employees
Young Brothers Limited Veba Trust for Bargaining Unit Employees is a voluntary organization with a mission to provide post-retirement health and group life insurance benefits to eligible bargaining unit employees of Young Brothers, Ltd. This trust serves as a safety net for these employees, offering them crucial benefits after their retirement. Specifically, any active bargaining unit employee of Young Brothers, Ltd. who retires and qualifies for a pension benefit upon termination under the Young Brothers, Ltd. Pension Plan becomes eligible for these post-retirement benefits from the trust. By providing these benefits, the trust helps ensure that retired employees continue to have access to essential healthcare and life insurance coverage, thus enhancing their overall well-being in their post-employment years.
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Impact
October, 2024
Young Brothers Limited VEBA Trust for Bargaining Unit Employees significantly enhances the welfare of eligible bargaining unit retirees by providing essential postretirement benefits. Specifically, it offers group life insurance, medical coverage, prescription drug coverage, and vision benefits, ensuring that former employees receive necessary healthcare and financial security following retirement.
This trust plays a crucial role in attracting and retaining talent within Young Brothers, Limited, as it demonstrates a commitment to employee well-being beyond active employment. Eligible retirees are assured continued support through these benefits, contributing to their overall quality of life during retirement. The structure of the trust also underscores the importance of collective bargaining in establishing meaningful postretirement safety nets, exemplifying a proactive approach to employee welfare within the organization.
Overall, the impact of the Young Brothers Limited VEBA Trust can be seen in the enhanced security and support it provides to retirees, fostering a sense of loyalty and mutual benefit among employees and the organization.
This information is meant to be a general summary of Young Brothers Limited Veba Trust For Bargaining Unit Employees. 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 2023.
- Investment Income: $211
- Gross Receipts: $79,482
Assets and Liabilities:
- Total Assets: $17,083,144
- Total Liabilities: $0
- Net Assets: $17,083,144
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Organization Details
Founding Year
1999
Principal Officer
Chris Edwards
NTEE Category
Code: Y43 - Mutual benefit
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