Overview
What is Hayes Lemmerz Non-Union Retiree Veba Trust?
Hayes Lemmerz Non-Union Retiree Veba Trust is a nonprofit organization situated in Chicago, Illinois, specifically at 55 W Monroe St 1200. Its primary purpose is to distribute tax-free funds to a closed group of retirees from Hayes Lemmerz Corporation, now known as Maxion Wheels. This distribution is facilitated through a health reimbursement account mechanism, entirely funded by the prior employer. The trust aims to support the healthcare needs of these retired individuals, providing them with financial aid for their medical expenses.
Is Hayes Lemmerz Non-Union Retiree Veba Trust legitimate?
Hayes Lemmerz Non-Union Retiree Veba Trust is a legitimate nonprofit organization registered as a 501(c)(9) entity. Hayes Lemmerz Non-Union Retiree 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: $6,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Hayes Lemmerz Non-Union Retiree Veba Trust?
The Hayes Lemmerz Non-Union Retiree Veba Trust's mission is centered around distributing tax-free funds to a specific group of retired employees from Hayes Lemmerz Corporation. This is done through a health reimbursement account mechanism, which is entirely funded by the previous employer, Maxion Wheels (formerly Hayes Lemmerz Corporation). The primary purpose of these distributions is to support the healthcare needs of the retired workers. The trust serves as a financial resource for these retirees, enabling them to cover various healthcare expenses. It is crucial to note that this trust is a non-union entity, catering solely to a closed group of eligible retirees from Hayes Lemmerz Corporation.
Who is the CEO of Hayes Lemmerz Non-Union Retiree Veba Trust?
John Kinstler is the Chairperson of Hayes Lemmerz Non-Union Retiree Veba Trust.
What is the revenue of Hayes Lemmerz Non-Union Retiree Veba Trust?
Hayes Lemmerz Non-Union Retiree Veba Trust's revenue in 2022 was $84,304.
Who are the executives of Hayes Lemmerz Non-Union Retiree Veba Trust and what are their salaries?
Here are 5 key members and their salaries:
- Compensation: $2,000
- Related: $0
- Other: $0
- Compensation: $1,000
- Related: $0
- Other: $0
- Compensation: $1,000
- Related: $0
- Other: $0
- Compensation: $1,000
- Related: $0
- Other: $0
- Compensation: $1,000
- Related: $0
- Other: $0
Where can I find the form 990 for Hayes Lemmerz Non-Union Retiree Veba Trust?
Hayes Lemmerz Non-Union Retiree Veba Trust's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Hayes Lemmerz Non-Union Retiree Veba Trust
Hayes Lemmerz Non-Union Retiree Veba Trust is an organization with a mission to distribute tax-free funds to a specific group of retirees from Hayes Lemmerz Corporation, now known as Maxion Wheels. This is accomplished through a health reimbursement account-style mechanism, entirely funded by the prior employer, Maxion Wheels (formerly Hayes Lemmerz Corporation). The purpose of this trust is to provide financial aid for healthcare-related expenses for the eligible retirees, ensuring they can maintain their well-being post-retirement.
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Impact
October, 2024
The Hayes Lemmerz Non-Union Retiree Veba Trust facilitates the distribution of tax-free funds to a specific group of retirees from Hayes Lemmerz Corp through a health reimbursement account mechanism. This initiative is entirely funded by Maxion Wheels, the former employer, ensuring that eligible retirees receive financial support for healthcare expenses.
By providing these reimbursements, the trust significantly impacts the financial well-being of its beneficiaries, helping them manage medical costs in retirement. This support offers retirees a sense of security and relief, enabling them to access necessary healthcare services without the burden of out-of-pocket expenses. The program ultimately promotes better health outcomes for participants, fostering a stronger community among former employees of Hayes Lemmerz Corp.
This information is meant to be a general summary of Hayes Lemmerz Non-Union Retiree 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: $84,304
- Gross Receipts: $569,634
Assets and Liabilities:
- Total Assets: $1,393,918
- Total Liabilities: $23,557
- Net Assets: $1,370,361
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Organization Details
Founding Year
2010
Phone
(312) 377-4565Principal Officer
John Kinstler
Main Address
55 W MONROE ST 1200, CHICAGO, IL, 60603
NTEE Category
Code: Y43 - Mutual benefit
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