Overview
What is Exelon Corp Employees Benefits Trust For Union Employees?
The Exelon Corp Employees Benefits Trust For Union Employees is a tax-exempt, voluntary Employees Beneficiary Association (VEBA) based in Chicago, Illinois. Established by Exelon Corporation, this nonprofit organization aims to offer health care benefits to eligible union retirees and their surviving spouses, funded through contributions from both members and the employer. With approximately 2,138 participants, the trust provides crucial coverage for its members. Its primary mission is to ensure retirees' access to essential health benefits, further enhancing their quality of life.
Is Exelon Corp Employees Benefits Trust For Union Employees legitimate?
Exelon Corp Employees Benefits Trust For Union Employees is a legitimate nonprofit organization registered as a 501(c)(9) entity. Exelon Corp Employees Benefits Trust For Union Employees 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: $198,259
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Exelon Corp Employees Benefits Trust For Union Employees?
The Exelon Corp Employees Benefits Trust For Union Employees is a tax-exempt trust established as a Voluntary Employees Beneficiary Association (VEBA). Its primary objective is to offer health care benefits to retired union employees of the corporation. The association's fundamental mission is to ensure the wellbeing of its members by providing essential health benefits using contributions from both employers and participating members. Approximately 2,138 retired union employees and their surviving spouses have benefited from the trust's health care coverage.
Who is the CEO of Exelon Corp Employees Benefits Trust For Union Employees?
Jennifer Franco is the Institutional Trustee of Exelon Corp Employees Benefits Trust For Union Employees.
What is the revenue of Exelon Corp Employees Benefits Trust For Union Employees?
Exelon Corp Employees Benefits Trust For Union Employees's revenue in 2022 was $13,628,461.
Who are the executives of Exelon Corp Employees Benefits Trust For Union Employees and what are their salaries?
There is 1 key member and their salary:
- Compensation: $198,259
- Related: $0
- Other: $0
Where can I find the form 990 for Exelon Corp Employees Benefits Trust For Union Employees?
Exelon Corp Employees Benefits Trust For Union Employees's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Exelon Corp Employees Benefits Trust For Union Employees
Exelon Corp Employees Benefits Trust For Union Employees, a 501(c)(9) tax-exempt trust, is a Voluntary Employees' Beneficiary Association (VEBA) established by Exelon Corporation. The primary objective of this organization is to provide healthcare benefits to retired union employees of the corporation and their surviving spouses. Through this trust, the employees' hard-earned contributions, along with those of the employer, come together to ensure the health and wellbeing of eligible retirees. The Exelon Corp Employees Benefits Trust For Union Employees has successfully served approximately 2,138 participants and their spouses. The trust's fundamental purpose is to maintain a pool of resources to offer comprehensive health benefits to its members, enabling them to enjoy their retirement years with peace of mind.
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Impact
October, 2024
The Exelon Corp Employees Benefits Trust for Union Employees plays a crucial role in supporting the health and well-being of retired union employees and their surviving spouses. By offering health care benefits to approximately 2,138 participants, this trust significantly alleviates financial burdens associated with medical expenses for its members.
Through both member and employer contributions, the trust ensures that retirees have access to necessary health services, which can improve their quality of life during retirement. This initiative not only enhances the security of the participants but also reinforces the commitment of Exelon Corp to its workforce, fostering a sense of community and mutual support among union members. Overall, the trust serves as an essential resource, contributing positively to the health outcomes and financial stability of retired employees.
This information is meant to be a general summary of Exelon Corp Employees Benefits Trust For Union Employees. 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: $3,791,375
- Program Service Revenue: $9,837,086
- Gross Receipts: $324,317,884
Assets and Liabilities:
- Total Assets: $711,105,979
- Total Liabilities: $13,306,575
- Net Assets: $697,799,404
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
EMPLOYEE CONTRIBUTIONS
Revenue
$9,837,086
Organization Details
Founding Year
1996
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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