Overview
What is Georgia Power Co Post Ret Med Ben Trust?
The Georgia Power Co Post Ret Med Ben Trust is a specialized trust established to manage funds set aside for providing post-retirement medical benefits to former employees of Georgia Power Company. The Georgia Public Service Commission mandates this transfer of retirement benefit costs into an external trust fund, which is the purpose of this trust's creation. The primary mission of the Georgia Power Co Post Ret Med Ben Trust is to ensure the financial security of retired employees by funding their post-retirement medical benefits, contributing to their overall well-being in their later years.
Is Georgia Power Co Post Ret Med Ben Trust legitimate?
Georgia Power Co Post Ret Med Ben Trust is a legitimate nonprofit organization registered as a 501(c)(9) entity. Georgia Power Co Post Ret Med Ben 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: $28,736
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Georgia Power Co Post Ret Med Ben Trust?
The Georgia Power Co Post Ret Med Ben Trust, in its mission, is established to receive, hold, and invest funds transferred from Georgia Power Company for the purpose of financing post-retirement medical benefits for the company's retired employees. This trust was formed in compliance with the Georgia Public Service Commission's requirement for Georgia Power Company to allocate the retirement benefit costs included in its electric rates to an external trust fund. The primary objective of this trust is to ensure the financial provision of medical benefits for retired Georgia Power Company employees.
What is the revenue of Georgia Power Co Post Ret Med Ben Trust?
Georgia Power Co Post Ret Med Ben Trust's revenue in 2023 was $4,095,256.
Who are the executives of Georgia Power Co Post Ret Med Ben Trust and what are their salaries?
Here are 2 key members and their salaries:
- Compensation: $28,736
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Georgia Power Co Post Ret Med Ben Trust?
Georgia Power Co Post Ret Med Ben Trust's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Georgia Power Co Post Ret Med Ben Trust
The Georgia Power Co Post Ret Med Ben Trust, established for a specific purpose, is dedicated to funding post-retirement medical benefits for Georgia Power Company's retired employees. This trust acts as a vessel for receiving, holding, and investing funds transferred from the company. The Georgia Public Service Commission enforces a requirement for Georgia Power Company to place the costs associated with these retirement benefits within its electric rates, and the trust was formed to accomplish this mandate. The trust's mission is to ensure the financial stability of providing medical benefits to retired employees, thereby upholding their well-being after their retirement from the company.
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Impact
October, 2024
Georgia Power Co Post Ret Med Ben Trust plays a crucial role in managing and disbursing funds dedicated to post-retirement medical benefits for retired employees of Georgia Power Company. By receiving, holding, and investing these funds, the trust ensures that retirees have access to medical benefits as stipulated in their employment agreements.
The establishment of this trust is mandated by the Georgia Public Service Commission, which requires Georgia Power Company to allocate costs related to retirement benefits into an external trust fund. This regulatory requirement emphasizes the importance of financial planning for future retiree medical expenses and aims to provide stability and assurance to employees transitioning into retirement.
In essence, the trust serves to uphold the commitment made by Georgia Power Company to its retired workforce, thereby enhancing their quality of life and providing them with essential health benefits after their careers end. The trust's ability to grow and manage these funds effectively is vital for sustaining these benefits over the long term, reflecting a mutual benefit to both the company and its retired employees.
This information is meant to be a general summary of Georgia Power Co Post Ret Med Ben 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 2023.
- Investment Income: $358,774
- Program Service Revenue: $3,736,336
- Gross Receipts: $4,710,559
Assets and Liabilities:
- Total Assets: $159,301,141
- Total Liabilities: $0
- Net Assets: $159,301,141
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PLAN CONTRIBUTIONS
Revenue
$3,736,336
Organization Details
Founding Year
1994
Principal Officer
Bank Of New York Mellon
NTEE Category
Code: Y40 - Mutual benefit
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