Overview
What is Voluntary Employee Beneficiary Association For Non-Union Employees Of General Mills Inc?
Voluntary Employee Beneficiary Association (VEBA) for Non-Union Employees of General Mills Inc is a nonprofit organization dedicated to managing and funding retiree healthcare benefits for the company's non-union workforce. Based in Pittsburgh, Pennsylvania, the VEBA ensures that these employees receive necessary healthcare coverage upon retirement. The association's primary mission is to finance and administer health benefits for its members.
Is Voluntary Employee Beneficiary Association For Non-Union Employees Of General Mills Inc legitimate?
Voluntary Employee Beneficiary Association For Non-Union Employees Of General Mills Inc is a legitimate nonprofit organization registered as a 501(c)(9) entity. Voluntary Employee Beneficiary Association For Non-Union Employees Of General Mills Inc 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: $17,813
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Voluntary Employee Beneficiary Association For Non-Union Employees Of General Mills Inc?
The Voluntary Employee Beneficiary Association (VEBA) serves the crucial purpose of covering retiree health care expenses for non-union employees of General Mills Inc. This organization is dedicated to ensuring the financial security and well-being of its members in their post-employment years. By managing the costs associated with retiree health benefits, the VEBA plays a vital role in providing essential health care coverage for its non-union workforce. The primary mission of the VEBA is to facilitate the payment of retiree health care benefits, thereby maintaining peace of mind for the eligible employees and their families.
Who is the CEO of Voluntary Employee Beneficiary Association For Non-Union Employees Of General Mills Inc?
The Bank Of New York Mellon is the Trustee of Voluntary Employee Beneficiary Association For Non-Union Employees Of General Mills Inc.
What is the revenue of Voluntary Employee Beneficiary Association For Non-Union Employees Of General Mills Inc?
Voluntary Employee Beneficiary Association For Non-Union Employees Of General Mills Inc's revenue in 2022 was $15,327,101.
Who are the executives of Voluntary Employee Beneficiary Association For Non-Union Employees Of General Mills Inc and what are their salaries?
Here are 6 key members and their salaries:
- Compensation: $17,813
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Voluntary Employee Beneficiary Association For Non-Union Employees Of General Mills Inc?
Voluntary Employee Beneficiary Association For Non-Union Employees Of General Mills Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Voluntary Employee Beneficiary Association For Non-Union Employees Of General Mills Inc
The Voluntary Employee Beneficiary Association for Non-Union Employees of General Mills, Inc., or VEBAs for short, serves a vital role in providing healthcare benefits to retired non-union employees of the corporation. This organization is specifically designed to shoulder the financial burden of these employees' healthcare costs post-retirement.
In essence, the VEBAs acts as a separate entity that manages and funds the healthcare benefits for the specified group of individuals. By doing so, General Mills, Inc. is able to offload a significant financial obligation and ensure the wellbeing of their retired employees. The association's primary focus remains on delivering healthcare benefits, making a positive impact on the lives of those who have dedicated their careers to the company.
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Impact
October, 2024
The Voluntary Employee Beneficiary Association (VEBA) for Non-Union Employees of General Mills Inc directly impacts the well-being of its members by providing a crucial financial resource for retiree healthcare benefits. By facilitating access to healthcare funding, it helps ensure that non-union employees can afford the medical care they need in retirement, which is particularly important given rising healthcare costs.
This support not only enhances the quality of life for retirees but also contributes to their financial stability, alleviating concerns about unexpected medical expenses. The VEBA acts as a safety net, allowing members to navigate retirement with greater peace of mind, knowing that necessary healthcare costs will be managed. Overall, the organization plays a significant role in fostering a secure and supportive environment for non-union employees of General Mills as they transition into retirement.
This information is meant to be a general summary of Voluntary Employee Beneficiary Association For Non-Union Employees Of General Mills Inc. 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: $7,491,033
- Program Service Revenue: $7,817,243
- Gross Receipts: $26,946,877
Assets and Liabilities:
- Total Assets: $259,487,076
- Total Liabilities: $0
- Net Assets: $259,487,076
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
EMPLOYEE CONTRIBUTIONS
Revenue
$5,262,492
DEATH BENEFITS FROM LIFE INSURANCE
Revenue
$2,055,057
EXPENSE CAP REIMBURSEMENT
Revenue
$499,694
Organization Details
Founding Year
1994
Phone
(412) 234-2242Principal Officer
The Bank Of New York Mellon
Main Address
C/O THE BNYM PO BOX 535007, PITTSBURGH, PA, 152535007
NTEE Category
Code: Y40 - Mutual benefit
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