Overview
What is Cleveland-Cliffs Steel Llc Veba Trust?
The Cleveland-Cliffs Steel LLC Veba Trust is a nonprofit organization based in Chicago, Illinois. It acts as the financial foundation for the voluntary employees' beneficiary association of Cleveland-Cliffs Steel LLC, formerly comprised of USWA employees from Bethlehem Steel and LTV Steel. This trust provides essential services to the beneficiaries of these former employees.
Is Cleveland-Cliffs Steel Llc Veba Trust legitimate?
Cleveland-Cliffs Steel Llc Veba Trust is a legitimate nonprofit organization registered as a 501(c)(9) entity. Cleveland-Cliffs Steel Llc Veba Trust 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: $6,250
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Cleveland-Cliffs Steel Llc Veba Trust?
The Cleveland-Cliffs Steel LLC Veba Trust functions as the financing entity for the beneficiary association of former USWA employees from Bethlehem Steel and LTV Steel. Situated in Chicago, Illinois, this trust plays a crucial role in supporting the welfare of the aforementioned employees. The trust's main objective is to provide a platform for the association, dedicated to fostering benefits for its members who were once part of USWA at Bethlehem Steel and LTV Steel.
Who is the CEO of Cleveland-Cliffs Steel Llc Veba Trust?
Christine Fleps is the Inst Trustee of Cleveland-Cliffs Steel Llc Veba Trust.
What is the revenue of Cleveland-Cliffs Steel Llc Veba Trust?
Cleveland-Cliffs Steel Llc Veba Trust's revenue in 2022 was $96,911,835.
Who are the executives of Cleveland-Cliffs Steel Llc Veba Trust and what are their salaries?
There is 1 key member and their salary:
- Compensation: $6,250
- Related: $0
- Other: $0
Where can I find the form 990 for Cleveland-Cliffs Steel Llc Veba Trust?
Cleveland-Cliffs Steel Llc Veba Trust's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Cleveland-Cliffs Steel Llc Veba Trust
The Cleveland-Cliffs Steel Llc Veba Trust acts as the financing instrument for the voluntary employees' beneficiary association of former USWA employees at Bethlehem Steel and LTV Steel. In simpler terms, this organization serves as the financial backbone for the welfare plan of the aforementioned steel industry workers, who were once affiliated with the United Steelworkers of America (USWA).
Established to cater to the needs of these former employees, the Cleveland-Cliffs Steel Llc Veba Trust has taken on the crucial role of ensuring the provision of benefits for its members. By functioning as a beneficiary association, it offers a safety net to those who have worked in the steel industry and are now in need of assistance.
Although the trust's location is mentioned as being in Chicago, Illinois, the focus of its mission remains on the wellbeing of its members, the former USWA employees of Bethlehem Steel and LTV Steel. The Cleveland-Cliffs Steel Llc Veba Trust plays an essential role in supporting these individuals by managing and funding the various benefits offered to them.
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Impact
October, 2024
Cleveland-Cliffs Steel LLC VEBA Trust plays a crucial role in providing financial support and benefits to former employees of Bethlehem Steel and LTV Steel. By functioning as the funding vehicle for the voluntary employees' beneficiary association, the trust ensures that these individuals receive critical health and welfare benefits. This assistance helps enhance the quality of life for former workers who might face economic challenges after leaving the steel industry.
Furthermore, the trust contributes to the stability of the local community in Chicago, providing a safety net for retirees and their families. By addressing their healthcare and benefit needs, the trust fosters a sense of security among its beneficiaries, which can have broader social implications, including improved community well-being and reduced reliance on public assistance programs. Overall, the Cleveland-Cliffs Steel LLC VEBA Trust is vital in safeguarding the livelihoods of former steelworkers and promoting their welfare.
This information is meant to be a general summary of Cleveland-Cliffs Steel Llc Veba Trust. 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: $3,253,336
- Program Service Revenue: $93,635,069
- Gross Receipts: $371,749,689
Assets and Liabilities:
- Total Assets: $456,082,727
- Total Liabilities: $2,880,577
- Net Assets: $453,202,150
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
EMPLOYER CONTRIBUTION
Revenue
$84,570,069
EMPLOYEE CONTRIBUTION
Revenue
$9,065,000
Organization Details
Phone
(312) 899-3400Principal Officer
Christine Fleps
Main Address
1 SOUTH DEARBORN MC 6-019, CHICAGO, IL, 60603
NTEE Category
Code: Y43 - Mutual benefit
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