Overview
What is Western Municipal Water District Veba Trust?
Western Municipal Water District Veba Trust is a nonprofit organization that was active during the 2021-2022 fiscal year, located in Riverside, California. Its primary purpose is to provide health care benefits in the form of insurance premium payments for retired employees of the Western Municipal Water District, a public entity. As of June 30, 2022, 52 retired employees were receiving these benefits, while 151 other participants were not yet eligible due to not meeting the qualification requirements of the plan. The trust aims to support the post-retirement health care needs of its members from the Western Municipal Water District.
Is Western Municipal Water District Veba Trust legitimate?
Western Municipal Water District Veba Trust is a legitimate nonprofit organization registered as a 501(c)(9) entity. Western Municipal Water District 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Western Municipal Water District Veba Trust?
The Western Municipal Water District Veba Trust's primary mission is to offer retirement health care benefits to the employees of the Western Municipal Water District, a public entity. In fulfillment of this mission, during the fiscal year 2021-2022, the trust paid health insurance premiums for 52 retired employees. Currently, there are 151 participants in the plan who are not yet eligible for benefits due to not meeting the qualification requirements. However, as of June 30, 2022, 14 of these members have met the plan qualifications and will receive benefits upon their retirement from the Western Municipal Water District.
What is the revenue of Western Municipal Water District Veba Trust?
Western Municipal Water District Veba Trust's revenue in 2024 was $987,218.
Who are the executives of Western Municipal Water District Veba Trust and what are their salaries?
There is 1 key member and their salary:
- Compensation: $16,468
- Related: $0
- Other: $9,233
Where can I find the form 990 for Western Municipal Water District Veba Trust?
Western Municipal Water District Veba Trust's most recent form 990 was submitted in 2024 and can be accessed here.
Mission Statement of Western Municipal Water District Veba Trust
The Western Municipal Water District Veba Trust, in its mission, aims to provide health care benefits to retired employees of the Western Municipal Water District, a public entity. This nonprofit organization focuses on offering post-employment health care coverage to its eligible beneficiaries, contributing to their overall well-being in their retirement years. During the 2021-2022 fiscal year, the Veba Trust successfully provided health insurance premium payments for 52 retired employees of the district. While there are 151 other participants in the plan, they are currently ineligible due to not meeting the qualification requirements of the plan and not yet retiring from the district. However, as of June 30, 2022, 14 of these members have met the plan's qualification requirements and will commence receiving benefits from the Veba Trust upon their retirement from the Western Municipal Water District.
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Impact
October, 2024
Western Municipal Water District Veba Trust significantly impacts the lives of retired employees by ensuring they have access to healthcare benefits. During the fiscal year from July 1, 2021, to June 30, 2022, the trust provided health insurance premium payments for 52 retired employees, demonstrating a commitment to their well-being and financial security in retirement.
Additionally, the trust supports a broader group of participants, with 151 individuals currently in the plan. While they have yet to retire, 14 of these members have already met the qualification requirements and will soon benefit from the trust upon their retirement. By offering these healthcare benefits, the Veba Trust plays a crucial role in enhancing the quality of life for retirees of the Western Municipal Water District, allowing them to manage healthcare costs more effectively and ensuring they have the necessary support during their post-employment years. This initiative reinforces the district's dedication to its employees, both during and after their careers.
This information is meant to be a general summary of Western Municipal Water District 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 2024.
- Investment Income: $607,697
- Program Service Revenue: $54,618
- Gross Receipts: $1,855,483
Assets and Liabilities:
- Total Assets: $20,136,113
- Total Liabilities: $0
- Net Assets: $20,136,113
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
EMPLOYER PAYMENT
Revenue
$54,618
Program 2
Revenue
$0
Program 3
Revenue
$0
Program 4
Revenue
$0
Program 5
Revenue
$0
Organization Details
Founding Year
2006
NTEE Category
Code: Y43 - Mutual benefit
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