Amica Retiree Medical Tr
- Assets
- $417.4m
- Revenue
- $63.7m
- Investments
- $44.1m
- Employees
- 0
- Location
- Lincoln, RI
- Founding
- 04/2008
- Data as of
- 12/2021
- EIN
- 41-6558543
Organization Overview
Amica Retiree Medical Tr is located in Lincoln, RI. The organization was established in 2008. According to its NTEE Classification (Y43) the organization is classified as: Voluntary Employees Beneficiary Associations (Non-Government), under the broad grouping of Mutual & Membership Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Amica Retiree Medical Tr is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 12/2021, Amica Retiree Medical Tr generated $63.7m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 16.4% each year . All expenses for the organization totaled $27.1m during the year ending 12/2021. While expenses have increased by 15.3% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE TRUST PROVIDES PARTICIPANTS WITH SICK AND ACCIDENT BENEFITS (WITHIN THE MEANING OF TREAS. REG. SEC. 1.501(C)(9)-(3)(C)). THE TRUST IS FOR THE BENEFIT OF PARTICIPANTS AND ELIGIBLE DEPENDENTS WHO MEET THE ELIGIBILITY CRITERIA UNDER THE AMICA MUTUAL INS. CO. RETIREE MEDICAL PLAN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE TRUST PROVIDES PARTICIPANTS WITH SICK AND ACCIDENT BENEFITS (WITHIN THE MEAN OF TREAS. REG. SEC. 1.501(C)(9)-(3)(C)). THE TRUST IS FOR THE BENEFIT OF PARTICIPANTS AND ELIGIBLE DEPENDENTS WHO MEET THE ELIGIBILITY CRITERIA UNDER THE AMICA MUTUAL INS. CO. RETIREE MEDICAL PLAN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Dimuccio Chairman | OfficerTrustee | 0.25 | $0 |
Suzanne Casey Secretary | OfficerTrustee | 0.25 | $0 |
Jill Andy Trustee | Trustee | 0.25 | $0 |
James Loring Trustee | Trustee | 0.25 | $0 |
Susan Chung Trustee | Trustee | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $7,614,633 |
| Tax Exempt Bond Proceeds | $1,114,088 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $53,097,190 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $63,699,828 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $10,000,000 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $27,127,499 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,396 |
| Savings and temporary cash investments | $79,329,445 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $291,544,718 |
| Investments—other securities | $44,129,176 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,416,261 |
| Total assets | $417,421,996 |
| Accounts payable and accrued expenses | $2,481,908 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $10,000,000 |
| Total liabilities | $12,481,908 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $276,100,000 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $128,840,088 |
| Total liabilities and net assets/fund balances | $417,421,996 |