Overview
What is Washington Gas Light Company Management Veba?
Washington Gas Light Company Management Veba is a fraternal beneficiary society and voluntary employees association based in Washington, D.C. With total revenues of $18,241,502 in the previous year, this nonprofit organization focuses on providing postretirement benefits to retirees. The master trust's mission is geared towards supporting the welfare of retirees in the community.
What are the reviews and ratings of this charity?
The Washington Gas Light Company Management Veba is not currently rated by Charity Navigator. This lack of a rating is primarily due to the organization not being registered as a 501(c)(3) nonprofit, which is a requirement for evaluation under the Accountability & Finance or Impact & Measurement methodologies. Charity Navigator requires electronically-filed Form 990 data for creating ratings, which is not available for this nonprofit.
The absence of a Charity Navigator rating does not imply either a positive or negative standing for the organization. Historically, such evaluations leaned heavily on financial accountability aspects, a method not applicable here due to the organization's distinct tax classification. Because it is not classified as a 501(c)(3), it is ineligible for evaluations in areas such as Leadership & Adaptability, Culture & Community, and financial metrics.
As there are no user reviews available on GreatNonprofits, we do not have additional feedback or sentiment from individuals directly interacting with or benefiting from the organization's activities. Consequently, potential donors or interested parties may need to seek further specific information about Washington Gas Light Company Management Veba through other sources.
This AI summary has been generated from information found on Charity Navigator.
Is Washington Gas Light Company Management Veba legitimate?
Washington Gas Light Company Management Veba is a legitimate nonprofit organization registered as a 501(c)(9) entity. Washington Gas Light Company Management Veba submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $133,043
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Washington Gas Light Company Management Veba?
Washington Gas Light Company Management Veba serves as a trust that ensures post-retirement benefits for its retirees. Its primary objective is to provide financial security and assistance for individuals in their retirement years. This trust operates as fraternal beneficiary societies and voluntary employees associations. Through its mission, it aims to alleviate some of the financial burdens and uncertainties that come with retirement. The trust generates revenue and continues to prioritize the well-being of its retirees. While specific details about the types of benefits provided are not mentioned, it is clear that Washington Gas Light Company Management Veba plays a crucial role in supporting those who have spent their careers with the organization.
Who is the CEO of Washington Gas Light Company Management Veba?
The Bank Of New York Mell is the Principal Officer of Washington Gas Light Company Management Veba.
What is the revenue of Washington Gas Light Company Management Veba?
Washington Gas Light Company Management Veba's revenue in 2022 was $16,075,281.
Who are the executives of Washington Gas Light Company Management Veba and what are their salaries?
There 8 volunteers at Washington Gas Light Company Management Veba.
Here are 9 key members and their salaries:
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- Compensation: $255,213
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Where can I find the form 990 for Washington Gas Light Company Management Veba?
Washington Gas Light Company Management Veba's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Washington Gas Light Company Management Veba
Washington Gas Light Company Management Veba, a renowned fraternal beneficiary societies and voluntary employees association, is dedicated to providing postretirement benefits to its retirees. This mission statement encapsulates the organization's commitment to ensuring the financial security and well-being of its retirees after their working years. By acting as a trust, Washington Gas Light Company Management Veba focuses on addressing the unique needs of its retirees and offering them the necessary support to enhance their quality of life.
The organization's activities revolve around the provision of essential benefits to its retired members. Through its master trust, Washington Gas Light Company Management Veba strives to make a positive impact on the lives of its retirees by alleviating their financial concerns and ensuring their peace of mind. The trust's primary objective is to provide a safety net for its members, enabling them to live comfortably and with dignity during their postretirement years.
Moreover, Washington Gas Light Company Management Veba operates with a spirit of unity and camaraderie, as evidenced by its fraternal beneficiary societies structure. This cooperative approach fosters a strong sense of community among its members and contributes to the organization's ability to effectively address the needs of its retirees. The voluntary employees association aspect of the organization allows current employees to contribute to the trust and ultimately benefit from its offerings in their retirement years. Overall, Washington Gas Light Company Management Veba plays a vital role in ensuring the financial stability and well-being of its retirees, reinforcing its commitment to this essential mission.
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Impact
October, 2024
Washington Gas Light Company Management VEBA plays a significant role in providing postretirement benefits to retirees, ensuring financial security and support during their retirement years. By operating as a master trust, it manages funds that deliver essential healthcare and other benefits, contributing to the overall well-being of its members.
With total revenues of $18,241,502, the organization demonstrates a substantial commitment to fulfilling its mission. Its activities are crucial in maintaining the quality of life for retirees, reflecting a strong dedication to mutual benefit and community support. The VEBA's presence in Washington, DC, serves not only the needs of its members but also contributes to the local economy by providing stability and resources to the retiree population. Overall, the impact of Washington Gas Light Company Management VEBA extends beyond financial assistance; it fosters a sense of community and security among former employees.
This information is meant to be a general summary of Washington Gas Light Company Management Veba. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $13,929,523
- Program Service Revenue: $2,145,758
- Gross Receipts: $108,625,954
Assets and Liabilities:
- Total Assets: $246,474,232
- Total Liabilities: $787,154
- Net Assets: $245,687,078
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INCOME DISTRIBUTION
Revenue
$1,198,247
EMPLOYEE CONTRIBUTIONS
Revenue
$867,796
CONSENT FEE INCOME
Revenue
$79,715
Organization Details
Founding Year
1993
Phone
(202) 624-6055Principal Officer
The Bank Of New York Mell
Main Address
TAX DEPT 1000 MAINE AVE SW FL 7, WASHINGTON, DC, 20024
NTEE Category
Code: Y40 - Mutual benefit
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