Overview
What is Ovec-Ikec Union Retiree Medical Tr?
Ovec-Ikec Union Retiree Medical Trust is a nonprofit organization dedicated to accumulating funds for providing medical benefits to the retired and current employees, along with their dependents, of Ohio Valley Electric Corp and Indiana-Kentucky Electric Corp. These individuals are covered under specific collective bargaining agreements. The trust's primary function involves receiving and managing payments, with the ultimate goal of offering medical benefits under the established plans. Its services extend to both current and future retirees.
Is Ovec-Ikec Union Retiree Medical Tr legitimate?
Ovec-Ikec Union Retiree Medical Tr is a legitimate nonprofit organization registered as a 501(c)(9) entity. Ovec-Ikec Union Retiree Medical Tr 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:
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What is the mission statement of Ovec-Ikec Union Retiree Medical Tr?
The mission of Ovec-Ikec Union Retiree Medical Trust is centered around receiving and managing payments for offering medical benefits to the retirees and their dependents of the Ohio Valley Electric Corporation and Indiana-Kentucky Electric Corporation. These individuals are covered by specific collective bargaining agreements. The trust's objective is to accumulate funds through investment and reinvestment, with the aim of utilizing these assets to provide necessary medical benefits for the retired employees and their family members. The trust's primary role is to ensure the wellbeing of these retirees by providing them with adequate medical care.
Who is the CEO of Ovec-Ikec Union Retiree Medical Tr?
Unavailable
What is the revenue of Ovec-Ikec Union Retiree Medical Tr?
Ovec-Ikec Union Retiree Medical Tr's revenue in 2022 was $3,402,152.
Who are the executives of Ovec-Ikec Union Retiree Medical Tr and what are their salaries?
Here are 7 key members and their salaries:
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- Compensation: $22,323
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Where can I find the form 990 for Ovec-Ikec Union Retiree Medical Tr?
Ovec-Ikec Union Retiree Medical Tr's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Ovec-Ikec Union Retiree Medical Tr
Ovec-Ikec Union Retiree Medical Trust is established with a primary mission to receive and hold payments for the provision of medical benefits under the plans set up for the current and future retirees of the Ohio Valley Electric Corporation and Indiana-Kentucky Electric Corporation. Covered under certain collective bargaining agreements, these retirees and their dependents are the beneficiaries of these medical benefits. The trust's purpose is to accumulate funds through the investment and reinvestment of its assets, with the ultimate goal of utilizing these accumulated amounts to provide medical benefits for the retired employees and their dependents of Ohio Valley Electric Corp and Indiana-Kentucky Electric Corp. In essence, Ovec-Ikec Union Retiree Medical Trust serves as a financial vehicle to ensure the continued provision of medical benefits for eligible retirees and their families.
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Impact
October, 2024
The Ovec-Ikec Union Retiree Medical Trust plays a vital role in securing health benefits for current and future retirees of the Ohio Valley Electric Corporation and Indiana-Kentucky Electric Corporation, along with their dependents. By receiving and managing payments, the trust ensures that the necessary funds are available to cover medical expenses as dictated by collective bargaining agreements.
Its impact extends beyond just financial management; by accumulating and reinvesting assets, the trust helps to preserve the quality of medical coverage for retirees. This commitment not only alleviates potential financial burdens on retirees but also contributes to their overall well-being, enabling them to access necessary healthcare services without undue stress.
Ultimately, the trust fosters a sense of security among retirees and their families, reinforcing the value of collective bargaining efforts that ensure appropriate medical benefits as part of their employment agreements. Through this mechanism, the trust supports a sustainable healthcare framework for those who dedicated their careers to the industry.
This information is meant to be a general summary of Ovec-Ikec Union Retiree Medical Tr. 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: $3,402,152
- Gross Receipts: $13,666,179
Assets and Liabilities:
- Total Assets: $84,804,109
- Total Liabilities: $0
- Net Assets: $84,804,109
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Organization Details
Founding Year
2004
Phone
(616) 355-8742Main Address
PO BOX 1558 MI026, COLUMBUS, OH, 432161558
NTEE Category
Code: Y43 - Mutual benefit
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