Overview
What is American Electric Power System Retiree Medical Benefit Trust?
The American Electric Power System Retiree Medical Benefit Trust is a nonprofit entity that holds, invests, and reinvestes assets to provide medical and dental benefits for current and retired employees of American Electric Power Company and its affiliates. The Trust's mission focuses on accumulating funds that will be used to offer benefits for both current and future participants and their dependents.
What are the reviews and ratings of this charity?
The American Electric Power System Retiree Medical Benefit Trust is not currently rated by Charity Navigator. This absence of rating is due to the fact that it is not a 501(c)(3) IRS registered nonprofit, which excludes it from the typical evaluation criteria used by the rating agency. As such, this does not communicate either a positive or negative assessment of the trust, but simply reflects a limitation in evaluative capacity owing to IRS registration requirements.
Charity Navigator's rating process usually involves certain beacon scores like Accountability & Finance and Impact & Measurement. For organizations like this trust, which lie outside the 501(c)(3) category, these criteria are not applicable. As such, the framework that generally assures financial health and impacts measures in nonprofits remains unutilized here.
There are no user reviews available on GreatNonprofits for the American Electric Power System Retiree Medical Benefit Trust, meaning there is no user-submitted qualitative feedback to assess public sentiment or service quality in an informal context.
This AI summary has been generated from information found on Charity Navigator.
Is American Electric Power System Retiree Medical Benefit Trust legitimate?
American Electric Power System Retiree Medical Benefit Trust is a legitimate nonprofit organization registered as a 501(c)(9) entity. American Electric Power System Retiree Medical Benefit 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: $134,438
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of American Electric Power System Retiree Medical Benefit Trust?
The American Electric Power System Retiree Medical Benefit Trust is dedicated to accumulating funds through the investment and reinvestment of its assets. This accumulation is intended for providing medical and dental benefits to current and future retirees (and their dependents) of American Electric Power Company and its affiliates, who do not receive coverage under collective bargaining agreements. The Trust continues to hold and manage its resources with the ultimate goal of delivering essential health benefits to those who will require it in the present and the future.
Who is the CEO of American Electric Power System Retiree Medical Benefit Trust?
The Bank Of New York Mellon is the Trustee (See Sch O) of American Electric Power System Retiree Medical Benefit Trust.
What is the revenue of American Electric Power System Retiree Medical Benefit Trust?
American Electric Power System Retiree Medical Benefit Trust's revenue in 2022 was $101,791,446.
Who are the executives of American Electric Power System Retiree Medical Benefit Trust and what are their salaries?
There is 1 key member and their salary:
- Compensation: $134,438
- Related: $0
- Other: $0
Where can I find the form 990 for American Electric Power System Retiree Medical Benefit Trust?
American Electric Power System Retiree Medical Benefit Trust's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of American Electric Power System Retiree Medical Benefit Trust
The American Electric Power System Retiree Medical Benefit Trust is a dedicated organization that continues to accumulate funds through holding, investing, and reinvesting its assets. Its primary goal is to provide medical and dental benefits for current and future retired employees, as well as their dependents, of American Electric Power Company, Inc., and its affiliates. The Trust does not fall under collective bargaining agreements.
In simple terms, the American Electric Power System Retiree Medical Benefit Trust functions as a financial entity, collecting and managing resources to ensure the availability of healthcare benefits for eligible retirees and their dependents. By continuously investing and reinvesting its assets, the Trust builds a substantial reserve to meet the growing needs of its participants. Ultimately, the organization's unwavering commitment ensures that those who have dedicated their careers to American Electric Power Company can enjoy peace of mind knowing that their healthcare needs will be met during their retirement years.
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Impact
October, 2024
The American Electric Power System Retiree Medical Benefit Trust plays a crucial role in providing medical and dental benefits for current and future retired employees of American Electric Power Company, Inc., as well as their dependents. By holding, investing, and reinvesting its assets, the Trust accumulates funds necessary to ensure comprehensive benefits for participants not covered by collective bargaining agreements. This financial stewardship ensures long-term support for retirees, enhancing their quality of life and providing peace of mind regarding healthcare needs. The Trust's efforts reflect a commitment to the well-being of retirees and their families, sustaining essential health benefits that contribute to their overall welfare.
This information is meant to be a general summary of American Electric Power System Retiree Medical Benefit 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: -$1,844,909
- Program Service Revenue: $33,870,275
- Gross Receipts: $297,255,545
Assets and Liabilities:
- Total Assets: $691,591,115
- Total Liabilities: $0
- Net Assets: $691,591,115
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
EMPLOYEE CONTRIBUTIONS
Revenue
$33,870,275
Organization Details
Founding Year
1993
Phone
(412) 234-2242Principal Officer
The Bank Of New York Mellon
Main Address
C/O THE BNYM PO BOX 535007, PITTSBURGH, PA, 152535007
NTEE Category
Code: Y43 - Mutual benefit
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