Massachusetts Institute Of Technology Welfare Benefit Plans Trust

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

EIN: 043177556 ✦ Cambridge, MA ✦ Designated as a 501(c)(3)

Overview

What is Massachusetts Institute Of Technology Welfare Benefit Plans Trust?

The Massachusetts Institute of Technology Welfare Benefit Plans Trust is a nonprofit organization based in Cambridge, Massachusetts, specifically located at 77 Massachusetts Avenue, NE49-3142. Its main purpose is to offer medical and life insurance benefits to eligible retirees of the Massachusetts Institute of Technology, along with medical coverage for individuals receiving long-term disability benefits for a minimum of three years. The Trust covers approximately 7,155 individuals under its health and life insurance programs.


Is Massachusetts Institute Of Technology Welfare Benefit Plans Trust legitimate?

Massachusetts Institute Of Technology Welfare Benefit Plans Trust is a legitimate nonprofit organization registered as a 501(c)(3) entity. Massachusetts Institute Of Technology Welfare Benefit Plans 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.

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 Massachusetts Institute Of Technology Welfare Benefit Plans Trust?
What is the revenue of Massachusetts Institute Of Technology Welfare Benefit Plans Trust?
Who are the executives of Massachusetts Institute Of Technology Welfare Benefit Plans Trust and what are their salaries?
Where can I find the form 990 for Massachusetts Institute Of Technology Welfare Benefit Plans Trust?

Mission Statement of Massachusetts Institute Of Technology Welfare Benefit Plans Trust

The Massachusetts Institute Of Technology Welfare Benefit Plans Trust is a mission-driven organization that aims to extend health and life insurance coverage to eligible retirees of the Massachusetts Institute of Technology (MIT) and their dependents. Additionally, the Trust offers medical benefits to individuals who have been receiving long-term disability benefits for a minimum of three years. These benefits serve approximately 7155 individuals under the MIT Welfare Benefit Plans Trust.

Established with a commitment to providing essential coverage for its members, the Trust focuses on enhancing the wellbeing of retired employees from MIT. By offering comprehensive health and life insurance plans, the organization ensures that its beneficiaries can access necessary medical services and maintain financial security during their retirement years. The Trust's dedication extends beyond retirees, as individuals who have relied on long-term disability benefits for an extended period also become eligible for these important benefits.

In essence, the Massachusetts Institute Of Technology Welfare Benefit Plans Trust acts as a safety net for its members, offering them peace of mind and protection as they navigate the transitions of retirement or extended disability. Through its provisions, the organization demonstrates a strong commitment to the wellbeing and overall welfare of its covered individuals, fostering a sense of security and stability within the community it serves.

Impact

This information is meant to be a general summary of Massachusetts Institute Of Technology Welfare Benefit Plans Trust. Please take the time to review official sources before making any decisions based upon the content provided here.




Thursday, August 15, 2024

The Massachusetts Institute Of Technology Welfare Benefit Plans Trust's impact includes providing essential health and life insurance benefits to covered eligible retirees of Massachusetts Institute of Technology and their dependents, as well as individuals receiving long-term disability benefits for at least three years. Approximately 7,155 individuals were covered under the trust, receiving medical and life insurance benefits for retirees and medical benefits for those on long-term disability. This trust plays a crucial role in ensuring the well-being and security of these individuals who have dedicated their careers to the institution.





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: $164,460,000
  • Program Service Revenue: $20,222,000
  • Gross Receipts: $443,530,000

    • Assets and Liabilities:
  • Total Assets: $957,104,000
  • Total Liabilities: $4,693,000
  • Net Assets: $952,411,000
  • Programs

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

    Employer's Contributions
    Retiree Contributions

    Revenue

    $9,964,000

    Employer Group Waiver Plan

    Revenue

    $10,197,000

    Other Income

    Revenue

    $61,000

    Organization Details

    Founding Year

    1992

    Main Address

    77 Massachusetts Avenue NE49-3142, Cambridge, MA, 02139

    NTEE Category

    Code: Y40 - Mutual benefit

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