Health Research Inc Postretirement Health Benefits Trust

Organization Overview

Health Research Inc Postretirement Health Benefits Trust is located in Menands, NY. The organization was established in 2015. 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. Health Research Inc Postretirement Health Benefits Trust is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.

For the year ending 03/2022, Health Research Inc Postretirement Health Benefits Trust generated $11.7m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 19.6% each year . All expenses for the organization totaled $2.8m during the year ending 03/2022. While expenses have increased by 5.5% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

THE PLAN IS A VOLUNTARY EMPLOYEES' BENEFICIARY ASSOCIATION (VEBA) PLAN ESTABLISHED TO REIMBURSE RETIREE MEDICAL EXPENSES TO ELIGIBLE EMPLOYEES OF HEALTH RESEARCH, INC.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE PLAN PROVIDES REIMBURSEMENT OF POST-RETIREMENT HEALTH (MEDICAL, HOSPITALIZATION, AND PRESCRIPTION DRUG) EXPENSES TO CERTAIN RETIRED EMPLOYEES OF HEALTH RESEARCH, INC.(PARTICIPANTS) WHO HAVE COMPLETED A REQUIRED NUMBER OF YEARS OF SERVICE (AS SET FORTH IN THE PLAN DOCUMENT) UPON RETIREMENT AND ARE ELIGIBLE TO RECEIVE A PENSION FROM THE NEW YORK STATE EMPLOYEE RETIREMENT SYSTEM.


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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$2,261,422
Investment income $8,502,348
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $916,445
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $11,680,215

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