Overview
What is Prior Lake-Savage Area Schools Veba Trust?
The Prior Lake-Savage Area Schools Veba Trust is a nonprofit organization based in Prior Lake, Minnesota. It functions as a Voluntary Employees Beneficiary Association, primarily established to fund retiree healthcare benefits for eligible participants. The trust derives its revenue from program-related contributions made to the Veba Trust. The main purpose of this organization is to cover healthcare expenses for eligible participants, contributing to their well-being in their post-employment years.
Official website here: www.priorlake
Is Prior Lake-Savage Area Schools Veba Trust legitimate?
Prior Lake-Savage Area Schools Veba Trust is a legitimate nonprofit organization registered as a 501(c)(9) entity. Prior Lake-Savage Area Schools 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.priorlake
What is the mission statement of Prior Lake-Savage Area Schools Veba Trust?
The Prior Lake-Savage Area Schools Veba Trust was established with a sole purpose: to provide retirement healthcare benefits to eligible participants. This voluntary employees' beneficiary association was formed to finance these benefits for plan participants. The organization's main activity involves covering healthcare expenses for eligible individuals, with its revenue coming from contributions made towards the Veba Trust for this specific purpose.
Official website here: www.priorlake
What is the revenue of Prior Lake-Savage Area Schools Veba Trust?
Prior Lake-Savage Area Schools Veba Trust's revenue in 2024 was $931,409.
Official website here: www.priorlake
Who are the executives of Prior Lake-Savage Area Schools 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.priorlake
Where can I find the form 990 for Prior Lake-Savage Area Schools Veba Trust?
Prior Lake-Savage Area Schools Veba Trust's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.priorlake
Learn more at the official website: www.priorlake
Mission Statement of Prior Lake-Savage Area Schools Veba Trust
The Prior Lake-Savage Area Schools Veba Trust was established with a singular purpose: to fund retiree health care benefits for eligible participants. This Voluntary Employees Beneficiary Association was formed to ensure the financial support required for retirees' medical needs. The trust's mission is to provide retirees with necessary health care benefits, ensuring their well-being during their post-employment years. The total expenses of the trust are directed towards funding these health care benefits for the eligible participants. The trust's revenue is derived from the organizations' program-related contributions to the Veba Trust, contributing towards the funding of retiree health care benefits for the participants.
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Impact
October, 2024
The Prior Lake-Savage Area Schools VEBA Trust plays a crucial role in supporting the health care needs of retirees by providing essential funding for medical benefits to eligible participants. By facilitating voluntary contributions from employees, the trust ensures that those who have served in the education sector can access necessary health care coverage in their retirement years.
The trust's funding model is centered around contributions specifically designated for retiree health care benefits, which allows it to maintain a sustainable system that addresses the increasing costs associated with health services. This targeted approach not only offers financial security to retirees but also reflects a commitment to their well-being, demonstrating that the community values the contributions of its educators even after their professional careers have concluded.
As a result, the VEBA Trust significantly enhances the quality of life for its participants, offering peace of mind and support during a critical stage of their lives.
This information is meant to be a general summary of Prior Lake-Savage Area Schools 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 2024.
- Investment Income: $70,655
- Program Service Revenue: $857,166
- Gross Receipts: $931,409
Assets and Liabilities:
- Total Assets: $3,452,836
- Total Liabilities: $0
- Net Assets: $3,452,836
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
501(c)(9) Health Care Ben
Revenue
$857,166
Organization Details
Founding Year
2015
Principal Officer
Tammy Fredrickson
Website
www.priorlakeNTEE Category
Code: Y43 - Mutual benefit
If you are a representative of Prior Lake-Savage Area Schools Veba Trust and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.