Overview
What is Villa Park Police Department Pension Fund Veba Trust?
The Villa Park Police Department Pension Fund Veba Trust is a nonprofit organization established to ensure post-retirement healthcare benefits for retired police department employees who are not eligible for Medicare. Funded through payroll tax deductions from current employees, this trust provides essential health and medical insurance coverage, catering to their medical needs in their retirement years. The trust's mission is to offer financial security and healthcare support to retirees, enhancing their overall well-being and quality of life.
Is Villa Park Police Department Pension Fund Veba Trust legitimate?
Villa Park Police Department Pension Fund Veba Trust is a legitimate nonprofit organization registered as a 501(c)(9) entity. Villa Park Police Department Pension Fund 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.
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What is the mission statement of Villa Park Police Department Pension Fund Veba Trust?
The Villa Park Police Department Pension Fund Veba Trust is committed to providing post-retirement health and medical insurance benefits for retirees who do not qualify for Medicare. This is achieved through a funding plan, where revenue is generated from payroll tax deductions made by current employees of the Villa Park Police Department. The trust's primary objective is to ensure the well-being of its retirees by offering them necessary healthcare coverage during their post-employment phase. The trust's revenue source allows it to continue providing these essential benefits, thereby maintaining the financial security and health of its retirees.
What is the revenue of Villa Park Police Department Pension Fund Veba Trust?
Villa Park Police Department Pension Fund Veba Trust's revenue in 2023 was $169,437.
Who are the executives of Villa Park Police Department Pension Fund Veba Trust and what are their salaries?
Here are 5 key members and their salaries:
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Where can I find the form 990 for Villa Park Police Department Pension Fund Veba Trust?
Villa Park Police Department Pension Fund Veba Trust's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Villa Park Police Department Pension Fund Veba Trust
The Villa Park Police Department Pension Fund Veba Trust is committed to providing post-retirement health and medical insurance benefits to retirees who are not eligible for Medicare. This nonprofit organization generates its revenue through payroll tax deductions from current employees of the Villa Park Police Department. The mission of the Villa Park Police Department Pension Fund Veba Trust is to ensure that retired officers have access to necessary medical coverage, alleviating any financial burden or concerns that may arise after their retirement. By providing this service, the trust helps retired officers maintain their overall health and well-being, allowing them to focus on their post-retirement lives with peace of mind.
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Impact
October, 2024
Villa Park Police Department Pension Fund Veba Trust plays a crucial role in ensuring that retirees of the Villa Park Police Department have access to necessary healthcare benefits after retirement. This trust specifically addresses the needs of retirees who are not eligible for Medicare, providing vital post-retirement health and medical insurance benefits.
The funding for this initiative comes from payroll tax deductions collected from current employees, demonstrating a commitment to mutual benefit and solidarity among staff. By pooling resources in this way, the trust not only supports the healthcare needs of its retirees but also contributes to a more secure and stable retirement for those who have dedicated their service to the community. This proactive approach to post-employment healthcare enhances the overall quality of life for retirees, alleviating financial burdens associated with healthcare costs.
In essence, the Villa Park Police Department Pension Fund Veba Trust serves as a critical safety net, ensuring that former officers can access necessary medical care, thereby promoting long-term wellness and security for individuals who have served their community.
This information is meant to be a general summary of Villa Park Police Department Pension Fund 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 2023.
- Investment Income: $35,559
- Program Service Revenue: $142,318
- Gross Receipts: $330,862
Assets and Liabilities:
- Total Assets: $1,126,729
- Total Liabilities: $0
- Net Assets: $1,126,729
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
HEALTH CARE PLAN CONTR
Revenue
$142,318
Organization Details
Founding Year
2003
Principal Officer
Mike Lay
NTEE Category
Code: Y43 - Mutual benefit
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