Overview
What is American Electric Pwr System Retiree Life?
American Electric Pwr System Retiree Life is a trust fund, established for the benefit of retired employees and their dependents from American Electric Power Company, Inc. and its affiliates. The primary function of this trust is to accumulate funds through investing and reinvesting its assets. The accumulated amounts will be utilized to provide life insurance benefits for the current and future retirees of the mentioned companies. The trust is actively managing its assets to ensure sufficient benefits for its participants.
Is American Electric Pwr System Retiree Life legitimate?
American Electric Pwr System Retiree Life is a legitimate nonprofit organization registered as a 501(c)(9) entity. American Electric Pwr System Retiree Life 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: $15,380
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of American Electric Pwr System Retiree Life?
American Electric Pwr System Retiree Life's mission involves holding, investing, and reinvesting assets to accumulate funds. These funds are intended for providing benefits to both current and future participants, as well as their dependents. The primary purpose of these benefits is to offer life insurance coverage for retired employees of American Electric Power Company, Inc., and its affiliates. The trust aims to grow its assets over time to ensure sufficient funds are available to meet the needs of its beneficiaries.
Who is the CEO of American Electric Pwr System Retiree Life?
Brent Heintzelman is the Principal Officer of American Electric Pwr System Retiree Life.
What is the revenue of American Electric Pwr System Retiree Life?
American Electric Pwr System Retiree Life's revenue in 2022 was $5,985,618.
Who are the executives of American Electric Pwr System Retiree Life and what are their salaries?
There is 1 key member and their salary:
- Compensation: $15,380
- Related: $0
- Other: $0
Where can I find the form 990 for American Electric Pwr System Retiree Life?
American Electric Pwr System Retiree Life's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of American Electric Pwr System Retiree Life
American Electric Pwr System Retiree Life, as a trust, is dedicated to preserving, investing, and reinvesting its assets. The primary objective of this organization is to accumulate substantial funds that will eventually be utilized to provide benefits for both current and future participants, including their dependents. This trust is specifically established to offer life insurance benefits to retired employees and their families from American Electric Power Company, Inc., and its affiliates. By carefully managing and growing its assets, American Electric Pwr System Retiree Life aims to ensure a stable and secure financial future for those who have served the company in their retirement years.
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Impact
October, 2024
American Electric Power System Retiree Life plays a crucial role in securing financial stability for its participants and their dependents. By holding, investing, and reinvesting its assets, the trust is dedicated to accumulating funds that will provide life insurance benefits for current and future retired employees of American Electric Power Company, Inc., and its affiliates. This long-term investment strategy ensures that retirees can rely on these benefits, creating a sense of security during their retirement years. The ongoing commitment to financial stewardship not only supports individual retirees but also strengthens the community by fostering peace of mind for families relying on these benefits. Overall, the trust's impact extends beyond financial assistance, promoting a legacy of support and care for those who dedicated their careers to the organization.
This information is meant to be a general summary of American Electric Pwr System Retiree Life. 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: $5,169,462
- Program Service Revenue: $816,006
- Gross Receipts: $19,304,447
Assets and Liabilities:
- Total Assets: $76,522,196
- Total Liabilities: $0
- Net Assets: $76,522,196
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
EMPLOYEE CONTRIBUTIONS
Revenue
$816,006
Organization Details
Founding Year
1993
Phone
(412) 234-2242Principal Officer
Brent Heintzelman
Main Address
C/O THE BNYM PO BOX 535007, PITTSBURGH, PA, 152535007
NTEE Category
Code: Y40 - Mutual benefit
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