Overview
What is The Iam Local 2848 Ford Retirees Veba Trust?
The Iam Local 2848 Ford Retirees Veba Trust is a nonprofit organization situated in Brunswick, Ohio. It operates under Section 501(C)(9) of the Internal Revenue Code, serving as a group benefit plan, also known as a Voluntary Employees' Beneficiary Association (VEBA). This trust specifically provides medical insurance benefits to the retired employees of International Association of Machinists Local 2848, who were previously employed by Ford Motor Company. The plan adheres to applicable Department of Labor regulations.
Is The Iam Local 2848 Ford Retirees Veba Trust legitimate?
The Iam Local 2848 Ford Retirees Veba Trust is a legitimate nonprofit organization registered as a 501(c)(9) entity. The Iam Local 2848 Ford Retirees 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: $20,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of The Iam Local 2848 Ford Retirees Veba Trust?
The Iam Local 2848 Ford Retirees Veba Trust operates as a group benefit plan under IRC Section 501(C)(9) and applicable Department of Labor regulations. Its primary function is to provide medical insurance benefits to the retirees of International Association of Machinists Local 2848, who were previously employed by Ford Motor Company. The trust's mission is to ensure the wellbeing of these retired individuals by offering them necessary healthcare coverage. The trust adheres to the regulations set forth by the Internal Revenue Service and the Department of Labor, ensuring compliance and reliability in its operations.
Who is the CEO of The Iam Local 2848 Ford Retirees Veba Trust?
Ricky S Thunberg is the Committee Ch of The Iam Local 2848 Ford Retirees Veba Trust.
What is the revenue of The Iam Local 2848 Ford Retirees Veba Trust?
The Iam Local 2848 Ford Retirees Veba Trust's revenue in 2022 was $510,261.
Who are the executives of The Iam Local 2848 Ford Retirees Veba Trust and what are their salaries?
Here are 7 key members and their salaries:
- Compensation: $3,575
- Related: $0
- Other: $0
- Compensation: $1,400
- Related: $0
- Other: $0
- Compensation: $1,400
- Related: $0
- Other: $0
- Compensation: $3,475
- Related: $0
- Other: $0
- Compensation: $2,950
- Related: $0
- Other: $0
- Compensation: $3,600
- Related: $0
- Other: $0
- Compensation: $3,600
- Related: $0
- Other: $0
Where can I find the form 990 for The Iam Local 2848 Ford Retirees Veba Trust?
The Iam Local 2848 Ford Retirees Veba Trust's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of The Iam Local 2848 Ford Retirees Veba Trust
The Iam Local 2848 Ford Retirees Veba Trust is a group benefit plan organized under Section 501(C)(9) of the Internal Revenue Code and applicable Department of Labor regulations. This trust serves as a retirement benefit provider for the retirees of the International Association of Machinists Local 2848, who had previously been employed by Ford Motor Company. Specifically, the trust provides medical insurance benefits to these retirees, ensuring they have access to necessary healthcare services in their post-employment years. The mission of The Iam Local 2848 Ford Retirees Veba Trust is to offer a comprehensive and sustainable medical insurance plan for its eligible members, providing them with peace of mind and financial security during their retirement.
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Impact
October, 2024
The IAM Local 2848 Ford Retirees VEBA Trust significantly impacts the lives of retirees from Ford Motor Company by providing essential medical insurance benefits. This trust ensures that former employees of the International Association of Machinists Local 2848 have access to healthcare coverage, which is crucial for maintaining their health and well-being in retirement.
By serving as a group benefit plan under IRC Section 501(c)(9), the VEBA Trust functions within a regulatory framework that allows for tax-advantaged funding of healthcare benefits. This structure not only provides retirees with financial support for medical costs but also fosters a sense of community and mutual aid among former employees.
Operating from Brunswick, OH, the trust’s mission underscores its commitment to safeguarding the health interests of its members, thereby positively influencing the overall quality of life for many individuals transitioning into retirement after years of service in the automotive industry.
This information is meant to be a general summary of The Iam Local 2848 Ford Retirees 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: $491,933
- Program Service Revenue: $18,328
- Gross Receipts: $1,720,382
Assets and Liabilities:
- Total Assets: $17,588,379
- Total Liabilities: $325
- Net Assets: $17,588,054
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PENSION BENEFIT DEDUCTIONS
Revenue
$14,358
RETIREE SELF PAY
Revenue
$3,970
Organization Details
Founding Year
2009
Phone
(330) 220-4340Principal Officer
Ricky S Thunberg
Main Address
3864 CENTER ROAD STE A13, BRUNSWICK, OH, 44212
NTEE Category
Code: Y43 - Mutual benefit
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