Overview
What is Mississippi Power Company Medical Benefits Trust?
The Mississippi Power Company Medical Benefits Trust is a specialized trust established to manage funds transferred from Mississippi Power Company. Its primary purpose is to provide post-retirement medical and life insurance benefits to the company's retired employees. The trust was created in compliance with regulations by the Mississippi Public Service Commission, which requires the company to allocate retirement benefit costs within its electric rates to an external fund. The trust is headquartered in Atlanta, Georgia, and its main objective is to financially support the medical and insurance needs of retired workers from Mississippi Power Company.
Is Mississippi Power Company Medical Benefits Trust legitimate?
Mississippi Power Company Medical Benefits Trust is a legitimate nonprofit organization registered as a 501(c)(9) entity. Mississippi Power Company Medical Benefits 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: $19,116
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Mississippi Power Company Medical Benefits Trust?
The Mississippi Power Company Medical Benefits Trust is established with the primary objective of funding post-retirement medical and life insurance benefits for the company's retired employees. This trust receives, manages, and invests funds transferred from Mississippi Power Company to cater to these retirement benefits. The Mississippi Public Service Commission mandates Mississippi Power Company to deposit these retirement benefit costs, included in their electric rates, in an external trust fund. The trust was established solely for this purpose.
Who is the CEO of Mississippi Power Company Medical Benefits Trust?
Hancock Bank is the Principal Officer of Mississippi Power Company Medical Benefits Trust.
What is the revenue of Mississippi Power Company Medical Benefits Trust?
Mississippi Power Company Medical Benefits Trust's revenue in 2022 was $83,678.
Who are the executives of Mississippi Power Company Medical Benefits Trust and what are their salaries?
Here are 2 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $19,116
- Related: $0
- Other: $0
Where can I find the form 990 for Mississippi Power Company Medical Benefits Trust?
Mississippi Power Company Medical Benefits Trust's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Mississippi Power Company Medical Benefits Trust
The Mississippi Power Company Medical Benefits Trust is an entity established with a specific mission. Its primary purpose is to fund post-retirement medical and life insurance benefits for employees who have served at Mississippi Power Company. The trust receives, manages, and invests funds transferred from Mississippi Power Company for this purpose. The Mississippi Public Service Commission mandates that the retirement benefit costs included in the company's electric rates be placed in an external trust fund. This trust was established solely for this purpose, ensuring the financial security of retired employees in terms of their medical and life insurance needs.
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Impact
October, 2024
The Mississippi Power Company Medical Benefits Trust plays a crucial role in ensuring the financial security and well-being of retired employees by providing funding for their post-retirement medical and life insurance benefits. By receiving and managing funds transferred from the Mississippi Power Company, the Trust acts as a dedicated resource for administering these vital benefits.
This trust is mandated by the Mississippi Public Service Commission, which requires the Mississippi Power Company to allocate retirement benefit costs into an external trust fund. This structure helps ensure accountability and transparency in the management of funds designated for the healthcare and life insurance needs of retirees.
By safeguarding these resources, the Mississippi Power Company Medical Benefits Trust significantly impacts the lives of retired employees, allowing them to access necessary medical care and maintain a sense of stability after their careers. The Trust’s commitment to funding post-retirement benefits ultimately contributes to the overall quality of life for its beneficiaries.
This information is meant to be a general summary of Mississippi Power Company Medical Benefits 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: $83,562
- Gross Receipts: $1,138,280
Assets and Liabilities:
- Total Assets: $4,535,971
- Total Liabilities: $0
- Net Assets: $4,535,971
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Organization Details
Founding Year
1994
Phone
(404) 506-6588Principal Officer
Hancock Bank
Main Address
241 RALPH MCGILL BLVD BIN 10139, ATLANTA, GA, 30308
NTEE Category
Code: Y40 - Mutual benefit
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