General Electric Company Insurance Plan Trust Co V A Diamante
- Assets
- $55.1m
- Revenue
- $1.0b
- Investments
- $13.5m
- Employees
- 0
- Location
- Norwalk, CT
- Founding
- 09/1976
- Data as of
- 12/2021
- EIN
- 51-0169382
Organization Overview
General Electric Company Insurance Plan Trust Co V A Diamante is located in Norwalk, CT. The organization was established in 1976. 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. General Electric Company Insurance Plan Trust Co V A Diamante is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 12/2021, General Electric Company Insurance Plan Trust Co V A Diamante generated $1.0b in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (9.4%) each year. All expenses for the organization totaled $1.3b during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (7.6%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE BENEFITS TO ELIGIBLE MEMBERS TO PAY FOR MEDICAL&DENTAL EXPENSES,FLEXIBLE SPENDING ACCOUNTS, SHORT-TERM DISABILITY & LIFE ACCIDENTAL DEATH, DISMEMBERMENT INSURANCE BENEFITS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE TRUST PROVIDES FUNDING FOR THE PAYMENT OF BENEFITS TO ELIGIBLE PERSONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Vaidheesh Krishnamurti Trustee | Trustee | 1 | $0 |
Scott Silberstein Trustee | Trustee | 1 | $0 |
Gregory Bouleris Trustee | Trustee | 1 | $0 |
Richard Middlebrook Controller | Trustee | 1 | $0 |
Harshal Chaudhari Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
State Street Bank And Trust Custodian | 12/30/21 | $248,322 |
Kpmg Llp Accounting Services | 12/30/21 | $220,000 |
Pricewaterhousecoopers Llp Tax Services | 12/30/21 | $172,810 |
Warburg Pincus Private Equity Investment Mgmt | 12/30/21 | $362,127 |
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 | $1,042,273,385 |
| Investment income | $1,453,380 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,859,920 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,046,586,685 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $1,227,698,906 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,308,806 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $22,283,407 |
| Total functional expenses | $1,251,291,119 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,649,753 |
| Savings and temporary cash investments | $6,386,764 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $28,066,138 |
| Investments—other securities | $13,482,906 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $520,665 |
| Total assets | $55,106,226 |
| Accounts payable and accrued expenses | $259,046 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $259,046 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $54,847,180 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $55,106,226 |