Overview
What is The Travelers Employee Benefit Trust?
The Travelers Employee Benefit Trust is a nonprofit organization headquartered in St. Paul, Minnesota, with the address 385 Washington Street 9275-SB05T. Their mission is to provide benefits for eligible employees, retirees, and their dependents of Travelers Companies, Inc., by paying or reimbursing covered expenses. The Trust reported significant financial activity in 2020, with benefits incurred totaling $347.5 million, a reserve increase of $4.8 million, administrative fees of $4.3 million, and medical premiums paid and payable amounting to $2.6 million. The Trust is dedicated to offering essential employee benefits to its members.
Is The Travelers Employee Benefit Trust legitimate?
The Travelers Employee Benefit Trust is a legitimate nonprofit organization registered as a 501(c)(9) entity. The Travelers Employee Benefit 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
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What is the mission statement of The Travelers Employee Benefit Trust?
The Travelers Employee Benefit Trust is dedicated to extending employee benefits to eligible employees and retirees of Travelers Companies, Inc. Its primary mission is to provide financial support through reimbursement or payment of covered expenses for these individuals. The Trust has reported significant medical benefit expenses, totaling $347 million, and is actively building up a reserve for future needs, increasing it by nearly $5 million. A portion of the funds goes towards administrative fees, while a significant portion is paid out as medical premiums. The Trust's purpose is to ensure the wellbeing and financial security of the eligible employees and retirees of Travelers Companies, Inc.
What is the revenue of The Travelers Employee Benefit Trust?
The Travelers Employee Benefit Trust's revenue in 2022 was $391,855,239.
Who are the executives of The Travelers Employee Benefit Trust and what are their salaries?
- Jpmorgan Chase Bank (Na Trustee)
Where can I find the form 990 for The Travelers Employee Benefit Trust?
The The Travelers Employee Benefit Trust’s most recent form 990 was submitted in 2022 and can be accessed here
Mission Statement of The Travelers Employee Benefit Trust
The Travelers Employee Benefit Trust, a significant entity, is committed to extending employee benefits to eligible employees and retirees of The Travelers Companies, Inc. Its primary objective is to reimburse or cover expenses incurred by these individuals and their dependents.
In essence, this trust serves as a safety net, offering financial assistance for various medical-related expenses amounting to $347,454,709. This substantial investment in employee wellbeing indicates the organization's dedication to ensuring the health and well-being of its beneficiaries. The trust also manages a reserve of $4,755,000, which adds to its financial stability and its capacity to cater to the needs of its members.
The trust's operations also involve the payment of administrative fees amounting to $4,329,083 to maintain its daily functions. Furthermore, the trust pays out $2,559,704 as premiums to cover the medical expenses of its beneficiaries. Overall, The Travelers Employee Benefit Trust stands as a crucial element in the lives of its members, providing essential support and financial assistance for their medical needs.
Impact
This information is meant to be a general summary of The Travelers Employee Benefit Trust. Please take the time to review official sources before making any decisions based upon the content provided here.
Thursday, August 15, 2024
The Travelers Employee Benefit Trust impacts the lives of eligible Travelers Companies, Inc. employees and retirees by providing essential employee benefits such as medical coverage. In the most recent reporting period, the Trust incurred significant medical benefits totaling $347,454,709, demonstrating its commitment to supporting the health and well-being of its members. Additionally, the Trust increased its reserves by $4,755,000, ensuring financial stability for future benefits payments. The Trust also paid $4,329,083 in administrative fees to efficiently manage its operations. These figures highlight the tangible impact of The Travelers Employee Benefit Trust in fulfilling its mission to provide valuable benefits to its members.
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.
- Assets and Liabilities:
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Participating Employer
Revenue
$250,839,203
Participating Employee
Revenue
$140,816,473
Organization Details
Founding Year
2004
Phone
(651) 310-7101
Main Address
385 Washington ST 9275-SB05T, ST PAUL, MN, 55102
NTEE Category
Code: Y40 - Mutual benefit
If you are a representative of The Travelers Employee Benefit 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.