Overview
What is Peco Energy Co Retiree Life?
Peco Energy Co Retiree Life is a trust primarily established to provide life insurance benefits to eligible retirees from Peco Energy Company. As of December 31, 2022, this organization serves approximately 31,524 eligible members. The main objective of Peco Energy Co Retiree Life is to ensure the well-being of its members by offering life insurance benefits. The trust operates out of Chicago, Illinois, specifically at 10 South Dearborn, 51st Floor.
Is Peco Energy Co Retiree Life legitimate?
Peco Energy Co Retiree Life is a legitimate nonprofit organization registered as a 501(c)(9) entity. Peco Energy Co Retiree Life 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: $9,263
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Peco Energy Co Retiree Life?
Peco Energy Co Retiree Life, through its VEBAs (Voluntary Employer-Funded Benefit Arrangements) trust, is committed to providing life insurance benefits to eligible members. This organization strives to ensure that eligible retirees from Peco Energy Company can avail of these benefits, as demonstrated by the approximately 31,524 members who were eligible as of December 31, 2022. The mission of Peco Energy Co Retiree Life is to safeguard the financial well-being of its members by offering life insurance coverage in their retirement years. This mission is carried out by meticulously managing the VEBAs trust to provide this crucial benefit.
Who is the CEO of Peco Energy Co Retiree Life?
Jennifer Franco is the Institutional Trustee of Peco Energy Co Retiree Life.
What is the revenue of Peco Energy Co Retiree Life?
Peco Energy Co Retiree Life's revenue in 2022 was $1,003,104.
Who are the executives of Peco Energy Co Retiree Life and what are their salaries?
There is 1 key member and their salary:
- Compensation: $9,263
- Related: $0
- Other: $0
Where can I find the form 990 for Peco Energy Co Retiree Life?
Peco Energy Co Retiree Life's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Peco Energy Co Retiree Life
Peco Energy Co Retiree Life, as a trust, is dedicated to providing life insurance benefits to eligible members. Its mission is to ensure the well-being of its members by offering these essential benefits, thereby contributing to their peace of mind. As of December 31, 2022, the trust has around 31,524 members who are eligible to avail of these benefits, underlining its significant role in the lives of its members.
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Impact
October, 2024
Peco Energy Co Retiree Life plays a crucial role in enhancing the financial security of its eligible members by providing life insurance benefits through the VEBA Trust. With approximately 31,524 members eligible as of December 31, 2022, the organization ensures that retirees and their beneficiaries have access to important financial resources in times of need. This commitment to mutual benefit fosters a sense of community and support among members, helping to alleviate concerns associated with end-of-life expenses and providing peace of mind. By focusing on the well-being of its members, Peco Energy Co Retiree Life strengthens the overall support system for retirees, enhancing their quality of life.
This information is meant to be a general summary of Peco Energy Co Retiree Life. 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: $574,327
- Program Service Revenue: $428,777
- Gross Receipts: $69,263,982
Assets and Liabilities:
- Total Assets: $58,912,171
- Total Liabilities: $183,232
- Net Assets: $58,728,939
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PARTICIPANT CONTRIBUTIONS
Revenue
$428,777
Organization Details
Founding Year
1976
Phone
(312) 394-4107Principal Officer
Jennifer Franco
Main Address
10 SOUTH DEARBORN 51ST FLOOR, CHICAGO, IL, 60603
NTEE Category
Code: Y40 - Mutual benefit
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