Overview
What is Exelon Corp Employees Benefit Trust For Management Employees?
Exelon Corp Employees Benefit Trust for Management Employees is a 501(c)(9) tax-exempt trust established by Exelon Corporation as a Voluntary Employees' Beneficiary Association (VEBA). The primary mission of this nonprofit organization is to provide health care benefits to approximately 5,691 retired management employees and their surviving spouses. The trust, headquartered in Chicago, Illinois, relies on contributions from both the employer and the employees to fund these benefits. The trust's core activity revolves around enhancing the health and well-being of the retired management employees by offering them essential healthcare benefits.
What are the reviews and ratings of this charity?
The Exelon Corp Employees Benefit Trust For Management Employees is not currently rated by Charity Navigator. This absence of a rating does not reflect positively or negatively on the organization; it simply indicates a lack of evaluation by the platform. Charity Navigator rates organizations primarily using accountability and financial metrics, along with other criteria such as impact and measurement, which this trust is ineligible for due to its classification status.
The organization cannot be evaluated by standard Charity Navigator methodologies like Accountability & Finance or Impact & Measurement because it is not registered as a 501(c)(3) nonprofit. This results in a lack of available revenue, expense, and personnel compensation data, which accompanies other essential financial transparency and operational efficiency measures used by the platform.
As an independent entity, not affiliated in a specific category required for evaluation by Charity Navigator, there remains limited publicly accessible financial and operational insight into the trust's function and efficiency. Importantly, no user reviews from GreatNonprofits are available, leaving potential stakeholders without peer insights or direct experiences to gauge the trust's effectiveness or community impact.
This AI summary has been generated from information found on Charity Navigator.
Is Exelon Corp Employees Benefit Trust For Management Employees legitimate?
Exelon Corp Employees Benefit Trust For Management Employees is a legitimate nonprofit organization registered as a 501(c)(9) entity. Exelon Corp Employees Benefit Trust For Management 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: $2,235
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Exelon Corp Employees Benefit Trust For Management Employees?
This tax-exempt trust, known as Exelon Corp Employees Benefit Trust For Management Employees, was established by Exelon Corporation as a Voluntary Employees Beneficiary Association (VEBA). The primary objective of this association is to extend health benefits to the retired management employees of the corporation. The trust aims to fulfill this purpose by providing health care advantages to the beneficiaries and their surviving spouses. Approximately 5,691 retired management employees have gained access to these benefits through contributions from both the employer and the members.
Who is the CEO of Exelon Corp Employees Benefit Trust For Management Employees?
Jennifer Franco is the Institutional Trustee of Exelon Corp Employees Benefit Trust For Management Employees.
What is the revenue of Exelon Corp Employees Benefit Trust For Management Employees?
Exelon Corp Employees Benefit Trust For Management Employees's revenue in 2022 was $49,606,652.
Who are the executives of Exelon Corp Employees Benefit Trust For Management Employees and what are their salaries?
There is 1 key member and their salary:
- Compensation: $2,235
- Related: $0
- Other: $0
Where can I find the form 990 for Exelon Corp Employees Benefit Trust For Management Employees?
Exelon Corp Employees Benefit Trust For Management Employees's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Exelon Corp Employees Benefit Trust For Management Employees
The Exelon Corp Employees Benefit Trust for Management Employees is a tax-exempt trust established by Exelon Corporation as a Voluntary Employees Beneficiary Association (VEBA). Its primary mission is to provide healthcare benefits to the retired management employees of the corporation. This association was created to ensure that retirees continue to receive essential health benefits even after their employment with Exelon has ended.
The Trust has been successful in providing healthcare benefits to approximately 5,691 retired management employees and their surviving spouses. The benefits are made possible through contributions from both the retirees and the employer. The Trust's fundamental purpose is to enhance the quality of life for these retirees by ensuring they have access to necessary healthcare services.
The Exelon Corp Employees Benefit Trust for Management Employees plays a vital role in the well-being of its beneficiaries. By offering healthcare benefits, it enables retired management employees to maintain their health and peace of mind as they transition into retirement. The Trust's unwavering commitment to its mission strengthens the bond between Exelon Corporation and its retired management workforce, demonstrating the company's caring and supportive attitude towards its employees, both during and after their tenure.
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Impact
October, 2024
Exelon Corp Employees Benefit Trust For Management Employees plays a crucial role in ensuring that retired management employees and their surviving spouses receive essential healthcare benefits. With approximately 5,691 participants, the trust is funded through contributions from both members and the employer, offering vital support for retirees' health and wellbeing.
By establishing this tax-exempt trust under the Voluntary Employees Beneficiary Association (VEBA), Exelon has created a structured mechanism to manage and distribute healthcare benefits effectively. This initiative not only alleviates financial burdens on retirees regarding healthcare but also contributes to their overall quality of life in retirement.
The impact of this trust extends beyond individual health benefits, fostering a sense of community and mutual support among employees who have dedicated their careers to Exelon. By prioritizing the health and wellbeing of retired management employees, Exelon demonstrates a commitment to its workforce, ultimately enhancing loyalty and morale among current employees as well.
This information is meant to be a general summary of Exelon Corp Employees Benefit Trust For Management 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: $37,624,154
- Program Service Revenue: $11,982,498
- Gross Receipts: $128,909,052
Assets and Liabilities:
- Total Assets: $105,349,405
- Total Liabilities: $3,915,318
- Net Assets: $101,434,087
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PARTICIPANT CONTRIBUTIONS
Revenue
$7,543,067
EMPLOYEE CONTRIBUTIONS
Revenue
$4,439,431
Organization Details
Founding Year
2003
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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