Overview
What is American Electric Power System Retiree?
American Electric Power System Retiree is a nonprofit organization established to manage and invest funds, ultimately accumulating resources to cover medical and dental benefits for retired employees and their dependents of American Electric Power Company, Inc. and its affiliates. These retirees are covered under certain collective bargaining agreements. The primary mission of this organization is to provide funding for obligations related to retiree medical and dental benefits offered through the American Electric Power System Comprehensive Medical Plan. It serves as a crucial support system for retired employees, ensuring they continue to receive essential healthcare benefits post-employment.
Is American Electric Power System Retiree legitimate?
American Electric Power System Retiree is a legitimate nonprofit organization registered as a 501(c)(9) entity. American Electric Power System Retiree 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: $240,396
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of American Electric Power System Retiree?
The American Electric Power System Retiree's mission is centered around providing funding for the medical and dental benefits obligations offered through the American Electric Power System's comprehensive medical plan. This mission is carried out by the trust, which manages, invests, and reinvestes assets to accumulate sufficient funds for providing these benefits to current and future retired employees and their dependents of the American Electric Power Company, Inc. and its affiliates, who are covered by certain collective bargaining agreements. The primary goal is to ensure the financial stability of these benefits for retired employees in their post-career life.
Who is the CEO of American Electric Power System Retiree?
Brent Heintzelman is the Principal Officer of American Electric Power System Retiree.
What is the revenue of American Electric Power System Retiree?
American Electric Power System Retiree's revenue in 2022 was $11,008,965.
Who are the executives of American Electric Power System Retiree and what are their salaries?
There is 1 key member and their salary:
- Compensation: $240,396
- Related: $0
- Other: $0
Where can I find the form 990 for American Electric Power System Retiree?
American Electric Power System Retiree's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of American Electric Power System Retiree
American Electric Power System Retiree, as a trust, is committed to accumulating funds for fulfilling obligations related to retired employees' medical and dental benefits. This is achieved through the strategic investment and reinvestment of assets. The primary objective of this nonprofit entity is to provide financial support for the medical and dental benefits offered through the American Electric Power System's comprehensive medical plan. This plan extends coverage to current and future retired employees, along with their dependents, who are covered by certain collective bargaining agreements. By managing and growing its assets, American Electric Power System Retiree ensures the availability of funds necessary to meet the medical and dental needs of its beneficiaries in the future.
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Impact
October, 2024
The American Electric Power System Retiree plays a crucial role in ensuring that retired employees receive essential medical and dental benefits, contributing significantly to their overall well-being and financial security. By managing a trust that holds, invests, and reinvests assets, the organization accumulates funds specifically designated for fulfilling health-related obligations for retirees and their dependents.
In a landscape where healthcare costs can be overwhelming, the trust provides peace of mind to retirees, making sure they have access to the coverage they need. This financial stability not only benefits the individuals directly impacted but also fosters a sense of community and loyalty among current and former employees.
Located in Pittsburgh, PA, the organization is dedicated to adhering to collective bargaining agreements, ensuring that all retirees, regardless of their specific circumstances, receive the promised benefits. This commitment not only highlights the importance of honoring past employment agreements but also reinforces the value placed on employees' contributions to the company throughout their careers.
Through its focused mission, the American Electric Power System Retiree impacts the lives of many, promoting health, security, and a supportive environment for those who dedicated their careers to the company and its affiliates.
This information is meant to be a general summary of American Electric Power System Retiree. 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: $3,526,536
- Program Service Revenue: $9,768,011
- Gross Receipts: $21,705,381
Assets and Liabilities:
- Total Assets: $466,362,861
- Total Liabilities: $3,390,412
- Net Assets: $462,972,449
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
EMPLOYEE CONTRIBUTIONS
Revenue
$9,768,011
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: T20 - Philanthropy
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