Overview
What is City Of Fridley Veba Health Savings Plan?
The City of Fridley Veba Health Savings Plan is a voluntary employees' beneficiary association (VEBA) established to fund eligible medical expenses for its participants through a health reimbursement arrangement. With a focus on employee well-being, this plan supports 59 individuals during the 2021 plan year, providing financial assistance for their healthcare needs. The VEBA is based in Fridley, Minnesota, specifically at 7071 University Avenue NE, 55432. This arrangement aims to alleviate some of the financial burden associated with medical expenses, benefiting the employees and their families under the City of Fridley Veba Health Savings Plan.
Is City Of Fridley Veba Health Savings Plan legitimate?
City Of Fridley Veba Health Savings Plan is a legitimate nonprofit organization registered as a 501(c)(9) entity. City Of Fridley Veba Health Savings Plan 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of City Of Fridley Veba Health Savings Plan?
The City of Fridley Veba Health Savings Plan serves as a Voluntary Employees' Beneficiary Association (VEBA), its primary mission being to fund the reimbursement of eligible medical expenses under a Health Reimbursement Arrangement. This plan benefits a total of 59 participants throughout the plan year 2021, providing financial assistance for their healthcare needs. By offering this VEBA, the City of Fridley seeks to support its employees and their families in managing their healthcare expenses, ensuring they can access necessary medical services. The Health Reimbursement Arrangement allows participants to cover eligible out-of-pocket medical costs, providing them with financial relief and peace of mind.
Who is the CEO of City Of Fridley Veba Health Savings Plan?
Hand Benefit Trust Co is the Trustee of City Of Fridley Veba Health Savings Plan.
What is the revenue of City Of Fridley Veba Health Savings Plan?
City Of Fridley Veba Health Savings Plan's revenue in 2022 was $22,873.
Who are the executives of City Of Fridley Veba Health Savings Plan and what are their salaries?
There is 1 key member and their salary:
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for City Of Fridley Veba Health Savings Plan?
City Of Fridley Veba Health Savings Plan's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of City Of Fridley Veba Health Savings Plan
The City Of Fridley Veba Health Savings Plan serves as a Voluntary Employees' Beneficiary Association (VEBA), dedicated to funding the reimbursement of eligible medical expenses under a Health Reimbursement Arrangement. This organization's primary objective is to support its 59 participants throughout the plan year 2021, providing financial assistance for their healthcare needs. By operating a Health Reimbursement Arrangement, the City Of Fridley Veba Health Savings Plan acts as a financial resource, allowing its members to cover various medical expenses, ensuring they receive essential healthcare services without facing significant financial burdens.
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Impact
October, 2024
The City of Fridley VEBA Health Savings Plan significantly impacts its participants by providing a structured way to manage and reimburse eligible medical expenses. This Health Reimbursement Arrangement ensures that the financial burden of healthcare is alleviated for the 59 participants involved during the plan year 2021. By funding reimbursements for medical expenses, the plan enhances access to necessary healthcare services, ultimately improving the participants' overall well-being and financial stability. Furthermore, the framework allows employees to focus on their health without the constant worry of unexpected medical costs, fostering a healthier work environment.
This information is meant to be a general summary of City Of Fridley Veba Health Savings Plan. 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: $373
- Program Service Revenue: $22,500
- Gross Receipts: $51,433
Assets and Liabilities:
- Total Assets: $141,072
- Total Liabilities: $0
- Net Assets: $141,072
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
EMPLYER CONTRIBUTIONS
Revenue
$22,500
Organization Details
Founding Year
2006
Phone
(761) 571-3450Principal Officer
Hand Benefit Trust Co
Main Address
7071 University AVE NE, Fridley, MN, 55432
NTEE Category
Code: Y43 - Mutual benefit
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