Global Aerospace Inc Postretirement Medical Tr

Organization Overview

Global Aerospace Inc Postretirement Medical Tr is located in Morris Plains, NJ. The organization was established in 2019. 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. Global Aerospace Inc Postretirement 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 12/2022, Global Aerospace Inc Postretirement Medical Tr generated $206.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (18.2%) each year. All expenses for the organization totaled $533.0k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (11.2%) per year over the past 5 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 MEDICAL, PRESCRIPTION, VISION, AND DENTAL BENEFITS TO PARTICIPANTS AS PROVIDED IN THE GLOBAL AEROSPACE POST-RETIREMENT MEDICAL PLAN

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE TRUST WAS FORMED JANUARY 1, 2017 WITH THE PURPOSE OF PROVIDING MEDICAL, PRESCRIPTION, VISION, AND DENTAL BENEFITS TO PARTICIPANTS OF THE GLOBAL AEROSPACE POSTRETIREMENT MEDICAL PLAN. EXCEPT TO THE EXTENT RECOVERABLE UNDER SECTION 403 OF ERISA, AND SUBJECT TO THE PROVISIONS OF THE PLAN DOCUMENT, THE TRUST ALONG WITH ALL EARNINGS ARE TO BE USED EXCLUSIVELY FOR THE BENEFIT OF THE PLAN PARTICIPANTS, AND EXPENSES OF THE TRUST. FUTURE ACTIVITIES ARE DESCRIBED IN THE PLAN DOCUMENT AS FOLLOWS: THE COMPANY SHALL, FROM TIME TO TIME, EVALUATE THE FUNDING OF THE PLAN AND DETERMINE THE AMOUNT TO BE CONTRIBUTED BY THE COMPANY. THE COMPANY SHALL FUND THE PLAN IN A MANNER CONSISTENT WITH THE PROVISIONS OF THE CODE, ERISA, APPROPRIATE STATE INSURANCE STATUTES AND SUCH OTHER LAWS AND REGULATIONS AS MAY BE APPLICABLE SO THAT THE PLAN SHALL BE FUNDED ON A LAWFUL BASIS. TO THE EXTENT PERMITTED BY GOVERNING LAW, THE COMPANY SHALL BE FREE TO DETERMINE THE MANNER AND MEANS OF MAKING PROVISION FOR FUNDING THE PLAN, INCLUDING THE EXECUTION OF ONE OR MORE FUNDING AGREEMENTS SETTING FORTH MUTUALLY ACCEPTABLE TERMS AND CONDITIONS WITH RESPECT TO THE COMPANY'S CONTRIBUTIONS TO THE PLAN, INCLUDING WITHOUT LIMITATION, PROVISIONS SPECIFYING THE MANNER IN WHICH THE AMOUNT OF THE OBLIGATION SHALL BE DETERMINED AND PAID TO THE TRUST. THE TRUSTEES WILL HOLD, INVEST AND REINVEST THE TRUST FUND ASSETS, AND DISTRIBUTE OR TRANSFER ASSETS OF THE FUND AS DIRECTED BY THE COMPANY OR SERVICE ADMINISTRATOR.


Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.

Board, Officers & Key Employees

Name (title)Compensation
Jeffrey S Bruno
Trustee
$0
John G Kelly
Trustee
$0
Anthony Moschetta
Trustee
$0
Luann Centanni
Trustee
$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$97,137
Investment income $109,176
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 $206,313

Peer Organizations

Organization NameAssets
Local 282 Welfare Trust Fund
Lake Success, NY
$104,672,572
The Greater Pennsylvania Carpenters Medical Plan
Pittsburgh, PA
$43,537,187
United States Steel Corporation Represented Retirees Benefit Trust
Pittsburgh, PA
$73,357,672
Sheet Metal Workers Local Union No 28 Welfare Fund
Mineola, NY
$77,937,864
Operating Engineers Welfare Fund Of Eastern Pa & Delaware
Fort Washington, PA
$97,694,348
Laborers District Council Of
Pittsburgh, PA
$110,595,779
Carrier-Ila Container Royalty Fund No 5
Lyndhurst, NJ
$114,348,609
Carpenters Health & Welfare Fund Of Philadelphia And Vicinity
Philadelphia, PA
$88,045,752
Plumbing Industry Board Of Plumbers
Long Island City, NY
$100,683,903
Pepsico Employees Long Term Disability Benefit Trust
Purchase, NY
$81,507,000
Steamfitters Local Union 420 Welfare Fund
Philadelphia, PA
$90,200,112
Metal Trades Branch Local 638 Hospitalization & Welfare Fund
Long Island City, NY
$81,556,463
Ufcw Local 1500 Welfare Fund
Westbury, NY
$78,912,899
I B E W Local 98 Health & Welfare Fund
Philadelphia, PA
$97,361,315
Welfare & Pension Funds Of Local 464a Welfare Fund
Little Falls, NJ
$99,889,065
Pennsylvania Mountains Healthcare Alliance Mult Emp Health Bnfts Tr
Dubois, PA
$74,141,593
Pacific Gas & Electric Post Ret Med Pl Tr Mgt & Non-Barg Unit Retirees
Pittsburgh, PA
$44,557,246
Enbridge Employee Services Inc Welfare Benefit Plans Trust
Pittsburgh, PA
$76,731,208
Ibew Local 102 Welfare Fund
Parsippany, NJ
$74,151,516
Employment Partners Benefits Fund
Bridgeville, PA
$60,656,702
Consolidated Edison Master Veba Ret Health Tr For Weekly Employees
new york, NY
$24,955,577
Philadelphia Federation Of Teachers Health & Welfare
Philadelphia, PA
$69,606,735
Pavers & Road Builders District Council Welfare Fund
Whitestone, NY
$73,094,975
Operating Eng Local 66 Welfare Fund
Pittsburgh, PA
$74,139,937
Ibew Local Union 5 & Western Pa Chapter Neca
Pittsburgh, PA
$56,458,601

Create an account to unlock the data you need.

or