Mid-City Financial Corp & Edgewood Mgmt Corp Vol Employee Benefit Tr

Organization Overview

Mid-City Financial Corp & Edgewood Mgmt Corp Vol Employee Benefit Tr is located in Gaithersburg, MD. The organization was established in 1982. 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. Mid-City Financial Corp & Edgewood Mgmt Corp Vol Employee Benefit Tr is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.

For the year ending 12/2022, Mid-City Financial Corp & Edgewood Mgmt Corp Vol Employee Benefit Tr generated $4.4m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (6.1%) each year. All expenses for the organization totaled $6.1m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (0.7%) per year over the past 8 years. 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

TO PROVIDE GROUP MEDICAL, VISION, DENTAL, BASIC LIFE, VOLUNTARY LIFE, SUPPLEMENTAL LIFE, ACCIDENTAL DEATH AND DISMEMBERMENT, SHORT-TERM DISABILITY AND LONG-TERM DISABILITY INSURANCE.

Describe the Organization's Program Activity:

Part 3 - Line 4a

PROVIDED GROUP MEDICAL, VISION, DENTAL, BASIC LIFE, VOLUNTARY LIFE, SUPPLEMENTAL LIFE, ACCIDENTAL DEATH AND DISMEMBERMENT, SHORT-TERM DISABILITY AND LONG-TERM DISABILITY INSURANCE


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Cigna Health And Life Insurance Company
Brokerage And Claims Processor
$297,016
Edgewood Management
Plan Sponsor
$150,000
View All Vendors

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$4,387,219
Investment income $24,901
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $4,412,120

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