Overview
What is Semco Energy Inc Non-Union Veba Trust?
Semco Energy Inc Non-Union Veba Trust is an irrevocable trust established to hold assets in trust, in accordance with Section 403 of ERISA. Its primary purpose is to provide future medical benefits for Semco Michigan non-union retirees and their dependents. The trust is funded to meet the medical needs of these retirees, ensuring they receive necessary healthcare services. The trust is strictly for the benefit of eligible participants, who are Semco Michigan non-union employees. Although the trust may cover administrative expenses and taxes, its primary objective remains to support the medical needs of the mentioned retirees.
Is Semco Energy Inc Non-Union Veba Trust legitimate?
Semco Energy Inc Non-Union Veba Trust is a legitimate nonprofit organization registered as a 501(c)(9) entity. Semco Energy Inc Non-Union 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
For more financial information, click here
What is the mission statement of Semco Energy Inc Non-Union Veba Trust?
The Semco Energy Inc Non-Union Veba Trust was established with a mission to hold assets in trust, in compliance with Section 403 of ERISA. The primary purpose of this trust is to provide future medical benefits for eligible Semco Michigan non-union retirees. The trust is solely and exclusively dedicated to benefiting the participants, whose eligibility stems from their employment as Semco Michigan non-union employees. It is important to note that while the trust holds assets for future medical benefits, the trustee is authorized to pay taxes and administrative expenses from the trust fund. This ensures the trust's financial sustainability and ability to meet its intended purpose.
Who is the CEO of Semco Energy Inc Non-Union Veba Trust?
Mark A Moses is the President Us Utilities & Dir of Semco Energy Inc Non-Union Veba Trust.
What is the revenue of Semco Energy Inc Non-Union Veba Trust?
Semco Energy Inc Non-Union Veba Trust's revenue in 2022 was $6,813.
Who are the executives of Semco Energy Inc Non-Union Veba Trust and what are their salaries?
Here are 9 key members and their salaries:
- Compensation: $0
- Related: $788,604
- Other: $12,200
- Compensation: $0
- Related: $528,805
- Other: $12,200
- Compensation: $0
- Related: $527,766
- Other: $12,200
- Compensation: $0
- Related: $451,269
- Other: $12,200
- Compensation: $0
- Related: $413,049
- Other: $12,200
- Compensation: $0
- Related: $400,776
- Other: $12,200
- Compensation: $0
- Related: $383,885
- Other: $24,400
- Compensation: $0
- Related: $339,692
- Other: $12,200
- Compensation: $1,147
- Related: $0
- Other: $0
Where can I find the form 990 for Semco Energy Inc Non-Union Veba Trust?
Semco Energy Inc Non-Union Veba Trust's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Semco Energy Inc Non-Union Veba Trust
Semco Energy Inc Non-Union Veba Trust is an irrevocable trust established with the primary objective of holding assets in trust, as per Section 403 of ERISA. This trust serves a crucial role in ensuring the future provision of medical benefits for retired employees who were part of the non-union workforce at Semco Energy Inc in Michigan. The trust is designed to maintain funds exclusively for the benefit of eligible participants. These participants are individuals who have previously been employed as non-union employees at Semco Energy Inc in Michigan. The trust's funds are not limited to covering only medical benefits; it can also be used to pay taxes and administrative expenses related to the trust's operation.
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Impact
October, 2024
Semco Energy Inc Non-Union VEBA Trust has a significant impact by ensuring the provision of future medical benefits for Semco Michigan non-union retirees and their dependents. Established as an irrevocable trust, it is designed to hold assets specifically for the purpose of funding these medical benefits, thereby safeguarding the health and financial well-being of individuals who have dedicated their careers to the organization.
By complying with Section 403 of ERISA, the trust operates with a clear focus on protecting the interests of its participants. This dedicated funding mechanism not only helps retirees manage their health care costs but also contributes to the overall stability and financial security of retirees in the Semco workforce. The trust emphasizes a commitment to the long-term welfare of its members, ensuring that resources are allocated solely for their benefit and that of their dependents. In this way, the trust plays a crucial role in the lives of retirees, providing peace of mind regarding future medical expenses and reinforcing the value of employee loyalty.
This information is meant to be a general summary of Semco Energy Inc Non-Union 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: $6,813
- Gross Receipts: $40,222
Assets and Liabilities:
- Total Assets: $104,752
- Total Liabilities: $850
- Net Assets: $103,902
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Organization Details
Founding Year
1997
Phone
(810) 987-2200Principal Officer
Mark A Moses
Main Address
1411 THIRD STREET Suite SUITE A, PORT HURON, MI, 48060
NTEE Category
Code: Y43 - Mutual benefit
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