Bae Systems North America Welfare Benefit Trust

Organization Overview

Bae Systems North America Welfare Benefit Trust is located in Falls Church, VA. The organization was established in 1993. 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. Bae Systems North America Welfare Benefit Trust 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, Bae Systems North America Welfare Benefit Trust generated $418.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.6% each year. All expenses for the organization totaled $421.0m during the year ending 12/2022. While expenses have increased by 3.3% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

THE ORGANIZATION IS A VOLUNTARY EMPLOYEES BENEFICIARY ASSOCIATION THAT PROVIDES FOR MEDICAL, DISABILITY & OTHER BENEFITS. APPROXIMATELY 40,000 PARTICIPANTS WERE SUBJECT TO BENEFITS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE EXEMPT PURPOSE OF THE TRUST IS TO FUND THE PAYMENT OF HEALTH AND WELFARE BENEFITS. THE AGGREGATE EXPENSE AMOUNT WAS PRIMARILY FOR THE PAYMENT OF HEALTH AND WELFARE BENEFITS, WITH THE REMAINDER BEING PAYMENT OF ADMINISTRATIVE EXPENSES RELATED TO THE TRUST'S EXEMPT PURPOSE. THE REVENUE RECEIVED BY THE TRUST WAS PRIMARILY EMPLOYER AND PARTICIPANT CONTRIBUTIONS, WITH THE REMAINDER BEING INVESTMENT INCOME, REBATES, AND REFUNDS FROM INSURANCE CARRIERS, AND TRANSFERS FROM OTHER TRUSTS TO FUND PLAN LIABILITIES TRANSFERRED TO THIS TRUST.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Alight Solutions Llc
Actuarial/admin Svcs
$3,462,081
Marathon Health
Wellness Program
$369,847
Groom Law Group Chartered
Legal Services
$274,077
Segal Benz
Communication Svcs
$250,351
Directpath Llc
Administrative
$165,407
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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$384,559,036
Investment income $492,728
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 $418,677,030

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Major League Baseball Players Welfare Plan
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Fringe Benefit Plan For Service Contract Act Employees Of Maximus
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Teamsters Joint Council-83 Of Virginia Health & Welfare Insuranc
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$94,246,401
M M & P Health & Benefit Fund
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$76,896,915

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