John Hancock Life Ins Co Employee Welfare Trust

Learn about this cause: Is it Legit? Do I like the mission? What is the CEO's salary?

EIN: 043105469 ✦ Boston, MA ✦ Designated as a 501(c)(9)

Overview

What is John Hancock Life Ins Co Employee Welfare Trust?

The John Hancock Life Ins Co Employee Welfare Trust serves as a voluntary employee's beneficiary association trust (VEBA), funding and managing the self-insured benefits for certain John Hancock Life Insurance Company employees, their dependents, and retirees. This trust, established with the purpose of administering and financing health and welfare benefits, caters to the wellbeing of the specified group within the organization.


Is John Hancock Life Ins Co Employee Welfare Trust legitimate?

John Hancock Life Ins Co Employee Welfare Trust is a legitimate nonprofit organization registered as a 501(c)(9) entity. John Hancock Life Ins Co Employee Welfare 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 not tax deductible.

Here 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


What is the mission statement of John Hancock Life Ins Co Employee Welfare Trust?
Who is the CEO of John Hancock Life Ins Co Employee Welfare Trust?
What is the revenue of John Hancock Life Ins Co Employee Welfare Trust?
Who are the executives of John Hancock Life Ins Co Employee Welfare Trust and what are their salaries?
Where can I find the form 990 for John Hancock Life Ins Co Employee Welfare Trust?

Mission Statement of John Hancock Life Ins Co Employee Welfare Trust

The John Hancock Life Ins Co Employee Welfare Trust is a voluntary employee beneficiary association trust, established to manage and finance the self-insured benefits of certain John Hancock Life Ins Co employees, their dependents, and retirees. This trust serves as a vital source of support for the beneficiaries, ensuring they receive essential benefits that are not covered through regular insurance. The mission of the John Hancock Life Ins Co Employee Welfare Trust is to provide and administer these self-insured benefits, safeguarding the wellbeing of its members.

The Trust plays a crucial role in the lives of its beneficiaries, offering them peace of mind and financial security. By pooling resources and administering benefits collectively, the Trust is able to offer more comprehensive and flexible coverage options than traditional insurance plans. These benefits can include health care, disability insurance, and other essential services, providing vital support to employees and retirees in need.

In summary, the John Hancock Life Ins Co Employee Welfare Trust acts as a safety net for its beneficiaries, ensuring they have access to the self-insured benefits they require. Through its mission, the Trust empowers its members to focus on their health and wellbeing, while alleviating the financial burden of managing their own insurance coverage.

Impact

This information is meant to be a general summary of John Hancock Life Ins Co Employee Welfare Trust. Please take the time to review official sources before making any decisions based upon the content provided here.




Thursday, August 15, 2024

The John Hancock Life Ins Co Employee Welfare Trust's impact is focused on administering and funding the self-insured benefits of certain John Hancock Life Ins Co employees, dependents, and retirees through a voluntary employee's beneficiary association trust (VEBA). This trust plays a crucial role in providing support and assistance to these individuals, ensuring that their welfare needs are met effectively. By managing the benefits and resources dedicated to employees and their families, this trust contributes to their well-being and security.





Financials

This financial information is from Propublica.

Revenue
Expenses
Efficiency

Other financial information:

This information is from the most recently submitted tax form from this organization, which was in 2022.

  • Investment Income: $3,987,052
  • Program Service Revenue: $79,551,708
  • Gross Receipts: $83,538,760

    • Assets and Liabilities:
  • Total Assets: $119,835,629
  • Total Liabilities: $198,577,736
  • Net Assets: -$78,742,107
  • Programs

    Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.

    EMPLOYER CONTRIBUTIONS

    Revenue

    $54,801,579

    EMPLOYEE CONTRIBUTIONS

    Revenue

    $24,750,129

    Organization Details

    Founding Year

    1991

    Principal Officer

    George Mccarthy

    Main Address

    200 BERKELEY STREET C-5, BOSTON, MA, 02116

    NTEE Category

    Code: Y40 - Mutual benefit

    If you are a representative of John Hancock Life Ins Co Employee Welfare Trust and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.