Overview
What is Ovec-Ikec Retiree Medical Tr?
Ovec-Ikec Retiree Medical Trust is a nonprofit organization, specifically a trust, situated in Columbus, Ohio. Its primary mission is to gather and manage assets with the intention of providing medical benefits for the retired employees and their dependents of Ohio Valley Electric Corp and Indiana-Kentucky Electric Corp. This excludes individuals covered by certain collective bargaining agreements. The trust operates by reinvesting its assets to accumulate sufficient funds for this purpose. The trust does not disclose its detailed activities or mission beyond this information, as indicated by "See Schedule O" in the data.
Is Ovec-Ikec Retiree Medical Tr legitimate?
Ovec-Ikec Retiree Medical Tr is a legitimate nonprofit organization registered as a 501(c)(9) entity. Ovec-Ikec 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:
Executive Compensation: $8,235
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Ovec-Ikec Retiree Medical Tr?
The mission of Ovec-Ikec Retiree Medical Trust is centered around receiving and managing payments for providing medical benefits to the retired employees and their dependents of Ohio Valley Electric Corp and Indiana-Kentucky Electric Corp, excluding those covered by certain collective bargaining agreements. The trust's primary objective is to accumulate funds through investing and reinvesting its assets, which will eventually be utilized to offer medical benefits to the eligible individuals. The trust's continuous endeavor is to ensure the well-being of these retirees and their families by providing them with necessary medical care.
Who is the CEO of Ovec-Ikec Retiree Medical Tr?
Unavailable
What is the revenue of Ovec-Ikec Retiree Medical Tr?
Ovec-Ikec Retiree Medical Tr's revenue in 2022 was $1,641,055.
Who are the executives of Ovec-Ikec Retiree Medical Tr and what are their salaries?
Here are 7 key members and their salaries:
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- Compensation: $8,235
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Where can I find the form 990 for Ovec-Ikec Retiree Medical Tr?
Ovec-Ikec Retiree Medical Tr's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Ovec-Ikec Retiree Medical Tr
Ovec-Ikec Retiree Medical Trust is a mission-driven organization with the primary purpose of receiving and managing funds for providing medical benefits to retired employees and their dependents of Ohio Valley Electric Corp and Indiana-Kentucky Electric Corp. These individuals are not covered by certain collective bargaining agreements. The trust's primary activity involves investing and reinvesting its assets to accumulate funds that will be utilized to offer medical benefits for current and retired employees and their dependents of these two corporations. The trust's mission is to ensure the financial security and well-being of these individuals by providing them with necessary medical benefits. By effectively managing its assets, the trust aims to build a substantial fund that will continue to support the medical needs of eligible retirees and their dependents in the future.
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Impact
October, 2024
Ovec-Ikec Retiree Medical Trust plays a crucial role in ensuring the continued provision of medical benefits for current and retired employees of Ohio Valley Electric Corp and Indiana-Kentucky Electric Corp. By managing and reinvesting its assets, the trust builds a financial foundation aimed at covering healthcare expenses for retirees and their dependents who are not included in specific collective bargaining agreements.
This strategic approach helps to stabilize the financial outlook for these employees, offering them peace of mind regarding their medical needs in retirement. The trust's ongoing commitment to accumulating resources ultimately supports a sustainable model for healthcare benefits, ensuring that those who contributed to the organizations can rely on adequate support as they transition into retirement. Its efforts not only secure individual health benefits but also foster a sense of mutual benefit and community among the retirees and their families.
This information is meant to be a general summary of Ovec-Ikec 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: $1,641,055
- Gross Receipts: $4,993,813
Assets and Liabilities:
- Total Assets: $28,225,525
- Total Liabilities: $0
- Net Assets: $28,225,525
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Organization Details
Founding Year
2004
Phone
(616) 355-8742Main Address
PO BOX 1558 MI026, COLUMBUS, OH, 432150000
NTEE Category
Code: Y43 - Mutual benefit
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