Overview
What is Western Technical College - Veba Trust?
Western Technical College - Veba Trust is a nonprofit entity established to manage the assets of a health reimbursement arrangement plan called the Western Technical College VEBA Postretirement Medical Reimbursement Account Plan. This plan serves as a tax-free savings account for participants to cover eligible medical expenses not covered by Medicare or other insurance plans. The Trust's primary mission is to provide necessary health care benefits that fall outside the coverage of other plans, ensuring financial assistance to eligible participants, their spouses, and dependents.
Official website here: www.westerntc.edu
Is Western Technical College - Veba Trust legitimate?
Western Technical College - Veba Trust is a legitimate nonprofit organization registered as a 501(c)(9) entity. Western Technical College - 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
Official website here: www.westerntc.edu
What is the mission statement of Western Technical College - Veba Trust?
The Western Technical College - Veba Trust was established with the purpose of offering supplementary health care benefits, not covered by other plans, to eligible individuals. This trust serves to provide financial assistance for qualified medical expenses that are not reimbursed by Medicare, other medical insurance contracts, or deductible under the Internal Revenue Code. The trust aims to support participants, their spouses, and dependents in managing their healthcare costs, ensuring they receive necessary medical care beyond what is covered by their primary insurance plans. The trust operates as a tax-free account, allowing participants to pay for these expenses directly, enhancing their overall healthcare coverage.
Official website here: www.westerntc.edu
Who is the CEO of Western Technical College - Veba Trust?
Wade Hackbarth is the Trustee of Western Technical College - Veba Trust.
Official website here: www.westerntc.edu
What is the revenue of Western Technical College - Veba Trust?
Western Technical College - Veba Trust's revenue in 2022 was $241,206.
Official website here: www.westerntc.edu
Who are the executives of Western Technical College - Veba Trust and what are their salaries?
There is 1 key member and their salary:
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.westerntc.edu
Where can I find the form 990 for Western Technical College - Veba Trust?
Western Technical College - Veba Trust's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.westerntc.edu
Learn more at the official website: www.westerntc.edu
Mission Statement of Western Technical College - Veba Trust
Western Technical College - Veba Trust was established with a specific purpose in mind. Its mission is to extend health care benefits that are not covered under other plans to eligible participants. This organization was formed to serve as a reliable source of financial support for qualified medical expenses that are not typically covered by Medicare or other medical insurance contracts or plans. The Trust operates as a tax-free account, allowing participants to utilize its funds for these uncovered medical costs. It's important to note that the payments or reimbursements provided by the Trust cannot be used for expenses that are already covered by any other insurance plan or for expenses that the participant can claim as a tax deduction under the Internal Revenue Code. The Trust's primary function is to provide an additional layer of financial support for participants, their spouses, and their dependents, ensuring they can access necessary medical care despite any gaps in coverage.
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Impact
October, 2024
Western Technical College - Veba Trust plays a crucial role in supporting the health and well-being of its eligible participants by providing qualified health care benefits that are often not covered by other insurance plans. By holding the assets of the Western Technical College VEBA Postretirement Medical Reimbursement Account Plan, the Trust effectively facilitates a defined contribution health and welfare benefit plan, commonly referred to as a health reimbursement arrangement.
This arrangement offers participants a tax-free account specifically designed to cover qualified medical expenses that go beyond the scope of Medicare or other existing medical insurance contracts. Such expenses include costs that directly relate to the participants, their spouses, and dependents, thus extending support to families. The Trust ensures that participants have access to essential financial resources to address medical needs that could otherwise pose significant burdens.
By enabling effective management of health care costs, the Western Technical College - Veba Trust not only enhances the financial stability of its participants but also promotes healthier communities in La Crosse, WI, and beyond. Its dedicated focus on filling the gaps left by other health coverage options underscores its commitment to mutual benefit and the well-being of those it serves.
This information is meant to be a general summary of Western Technical College - 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: -$301,587
- Program Service Revenue: $542,793
- Gross Receipts: $241,206
Assets and Liabilities:
- Total Assets: $2,037,739
- Total Liabilities: $193,880
- Net Assets: $1,843,859
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Plan contributions
Revenue
$542,793
Organization Details
Founding Year
2011
Phone
(608) 789-6240Principal Officer
Wade Hackbarth
Main Address
PO Box C-0908, La Crosse, WI, 546020908
Website
www.westerntc.eduNTEE Category
Code: Y43 - Mutual benefit
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