Annual report : 2000 / Burroughs Wellcome Fund.

  • Burroughs Wellcome Fund
Date:
2000
Catalogue details

Licence: Attribution 4.0 International (CC BY 4.0)

Credit: Annual report : 2000 / Burroughs Wellcome Fund. Source: Wellcome Collection.

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    7. Employee Benefit and Retirement Plans The Fund provides medical insurance to all employees working at least thirty hours per week. Coverage extends to each employee’s spouse and dependent children, if applicable. The expense for this employee benefit was $99 and $88 during fiscal 2000 and 1999, respectively. The Fund has a defined-contribution retirement plan covering all employees working at least twenty hours per week. Under the terms of the plan, the Fund matches 50% of all employees’ contributions up to 6% of the employee’s annual compensation. Employees are 100% vested in employee and employer contributions immediately. The Fund also has a defined-contribution retirement plan funded solely through employer contributions. Under the terms of the plan, the Fund contributes 10% of the employee’s annual compensation. This plan covers all employees and vesting in contributions is immediate. The expense for these retirement plans was $37 and $136 in fiscal 2000 and $38 and $129 in fiscal 1999. 8. Classification of Expenses 2000 1999 Management Management Program and Program and Services General Services General Awards granted, net of cancellations and refunds of $6,770 and $8,773 in 2000 and 1999, respectively $ Bowes $ : $ 37,528 $ - Federal excise taxes - SE SIS) = 1,418 Salaries and other employee expenses - 1,960 - W072 Depreciation expense - Diy = 0 Travel and entertainment - 595 - 885 Maintenance and supplies - 764 - 440 Honoraria - 351 - Bat Professional fees - 313 - 232 Printing and design costs - ae - 132 Rent - 41 - 161 Miscellaneous - es - a7 Total expenses $ 39,223 $ 6,954 $ 37,528 $ 5,504