Overview
What is Duke Energy Corp Welfare Benefits Trust Veba I?
Duke Energy Corp Welfare Benefits Trust Veba I is a charitable trust established to manage assets related to medical, dental, and basic life insurance benefits for the corporation. Based on the provided information, this trust is specifically designed to oversee the administration of these types of benefits for Duke Energy Corp. The trust's mission focuses on ensuring the well-being of those associated with the corporation by handling the assets related to these essential services.
Is Duke Energy Corp Welfare Benefits Trust Veba I legitimate?
Duke Energy Corp Welfare Benefits Trust Veba I is a legitimate nonprofit organization registered as a 501(c)(9) entity. Duke Energy Corp Welfare Benefits Trust Veba I 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 Duke Energy Corp Welfare Benefits Trust Veba I?
Duke Energy Corp's Welfare Benefits Trust Veba I is established to manage assets for medical, dental, and basic life plan benefits. The trust's primary mission is to ensure the availability of these essential benefits for eligible individuals. The trust's resources are dedicated solely to funding these crucial services, enabling recipients to maintain their wellbeing and focus on other aspects of their lives. The trust's management prioritizes the financial security and peace of mind of those it serves. By effectively managing its assets, Duke Energy Corp's Welfare Benefits Trust Veba I plays a vital role in promoting the overall health and well-being of its beneficiaries.
Who is the CEO of Duke Energy Corp Welfare Benefits Trust Veba I?
The Bank Of New York Mellon is the Trustee (See Schedule O) of Duke Energy Corp Welfare Benefits Trust Veba I.
What is the revenue of Duke Energy Corp Welfare Benefits Trust Veba I?
Duke Energy Corp Welfare Benefits Trust Veba I's revenue in 2022 was $409,904,542.
Who are the executives of Duke Energy Corp Welfare Benefits Trust Veba I and what are their salaries?
There is 1 key member and their salary:
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Duke Energy Corp Welfare Benefits Trust Veba I?
Duke Energy Corp Welfare Benefits Trust Veba I's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Duke Energy Corp Welfare Benefits Trust Veba I
Duke Energy Corp Welfare Benefits Trust Veba I is a dedicated trust that holds assets for providing medical, dental, and basic life benefits to eligible individuals. Established with a clear mission, the trust aims to ensure the wellbeing of its beneficiaries by managing assets specifically allocated for these essential health services. By doing so, it offers peace of mind and security to those who rely on it, enabling them to focus on their health and well-being.
This benefits trust plays a significant role in addressing the essential healthcare needs of its beneficiaries. By pooling resources together, it ensures that a comprehensive range of medical, dental, and basic life benefits are available to those who depend on it. The trust's mission reflects a commitment to the health and well-being of its beneficiaries, providing them with the necessary resources to maintain their overall wellness.
In summary, Duke Energy Corp Welfare Benefits Trust Veba I serves as a vital source of medical, dental, and basic life benefits for its eligible beneficiaries. By managing assets intended for these essential services, it enables its beneficiaries to focus on their health and well-being, ensuring they have the necessary support to live their lives to the fullest.
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Impact
October, 2024
Duke Energy Corp Welfare Benefits Trust VEBA I plays a significant role in managing benefits for employees by ensuring the availability of funds for medical, dental, and basic life insurance plans. This trust serves as a stable financial foundation for these essential employee benefits, impacting both the well-being of employees and the overall satisfaction within the workforce.
By effectively managing the assets allocated for these benefits, the trust helps to enhance employee health and morale, which can lead to increased productivity and retention rates. The VEBA structure allows for tax-advantaged funding of employee benefits, optimizing the financial resources available for medical and dental expenses. Additionally, it ensures that the trust can meet its obligations to employees, supporting their needs during critical times.
In summary, Duke Energy Corp Welfare Benefits Trust VEBA I contributes to the financial security and health of employees, directly influencing organizational effectiveness and employee loyalty through its management of vital benefit assets.
This information is meant to be a general summary of Duke Energy Corp Welfare Benefits Trust Veba I. 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: $2,170,071
- Program Service Revenue: $407,734,471
- Gross Receipts: $848,502,945
Assets and Liabilities:
- Total Assets: $51,245,629
- Total Liabilities: $0
- Net Assets: $51,245,629
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
EMPLOYER CONTRIBUTIONS
Revenue
$332,336,896
EMPLOYEE CONTRIBUTIONS
Revenue
$75,397,575
Organization Details
Founding Year
1993
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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