Intel Corporation Short Term Disability Plan Trust

The information for Intel Corporation Short Term Disability Plan Trust is as of the organization's most recent filing in December '20. This organization is located in Santa Clara, CA. It has been in existence for 42 years, following its founding in 1978.

Organization Classification

The IRS classifies organizations according to the National Taxonomy of Exempt Entities (NTEE) system. The NTEE system helps the IRS assign a 3-character code to each organization to describe the organization's activities.

The Intel Corporation Short Term Disability Plan Trust's NTEE code is Y20. The "Y" tells us that the organization is classified along with Insurance Providers. The "20" tells us that the organization is a Mutual & Membership Benefit organization. The NTEE describes Mutual & Membership Benefit organizations as those established as vehicles for their parent corporations to set aside funds for various insurance purposes. This organization is exempt from federal taxes under 501(c)(3) of the Internal Revenue Code.

Every organization is also governed by a specific section of the Internal Revenue Code. This organization happens to be a 501(c)(9) organization. The IRS describes these organizations as Voluntary Employee Beneficiary Associations.

Perhaps the most accurate way to get a sense of what the organization hopes to achieve is by looking at its mission. The mission of the Intel Corporation Short Term Disability Plan Trust is to provide a degree of income protection during short-term disabilities for Intel Corporation's employees in various locations. The plan was established in 1977 and allows employees in certain states to supplement coverage under state-mandated plans with the plan provided by Intel Corporation.

Program Areas

The organization's program area within the general fund focuses on providing short-term disability benefits for employees. This program area specifically addresses any revenues, support, and functional expenses related to these disability benefits that are not reported by another fund or program.

Board Governance

Based on the information provided, the Intel Corporation Short Term Disability Plan Trust appears to have some areas for improvement in its governance practices. The lack of voting members and independent members suggests a potential lack of diversity and accountability within the organization's decision-making processes. Without individuals who can provide different perspectives and challenge the status quo, it may be difficult for the organization to make well-informed and unbiased decisions. While it is positive that board and committee meetings are documented, the absence of a conflict of interest policy and disclosure requirements raises concerns about the organization's ability to effectively manage and mitigate conflicts of interest. Without these policies in place, there is a risk that personal interests could influence decision-making, potentially compromising the organization's mission and integrity. Furthermore, the absence of a whistleblower policy and document retention policy can hinder the organization's ability to identify and address any unethical or illegal activities. These policies are essential for creating a transparent and accountable environment where individuals feel safe to report wrongdoing. Additionally, the organization's lack of substantiation and review of leadership and officer salaries, as well as the failure to provide copies of the 990 to the board prior to filing, raises questions about the organization's financial transparency and oversight. In summary, while the Intel Corporation Short Term Disability Plan Trust does document board and committee meetings, there are several areas where its governance practices could be strengthened. Implementing policies and procedures to address conflicts of interest, whistleblowing, document retention, and financial transparency would enhance the organization's overall governance and ensure it operates in the best interest of its stakeholders.

Organization Growth

The Intel Corporation Short Term Disability Plan Trust has experienced a decrease in program service revenue, investment income, and total revenue from 2018 to 2020. However, there has been a significant increase in benefits paid to members during this time period. Additionally, the organization's total expenses have also increased. Based on this information, it can be concluded that the nonprofit organization has not grown over the given time period.