Overview
What is Rancho California Water District Veba Trust?
The Rancho California Water District Veba Trust is a nonprofit entity based in Temecula, California, with an address at 42135 Winchester Road, 92590. Its primary mission is to offer retiree health care benefits to eligible employees of the Rancho California Water District, a public entity. During the 2021-2022 fiscal year, funds from the trust were used to cover health and dental insurance premiums for 105 retired employees and retired board members, in accordance with the district's retirement medical benefits plan. The trust also has 147 active participants who have not yet met the plan's qualification requirements or retired, with 29 of them becoming eligible by June 30, 2022.
Is Rancho California Water District Veba Trust legitimate?
Rancho California Water District Veba Trust is a legitimate nonprofit organization registered as a 501(c)(9) entity. Rancho California Water District 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.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Rancho California Water District Veba Trust?
The Rancho California Water District Veba Trust's mission is to provide retiree health care benefits to eligible employees of the Rancho California Water District, a public entity. During the fiscal year of July 1, 2021, to June 30, 2022, funds from the Veba Trust were utilized to provide health and dental insurance premium payments to 105 retired employees and retired board members of the district, adhering to the terms of the district's retirement medical benefits plan. Currently, there are 147 active participants in the plan who are not yet eligible to receive benefits due to not meeting the plan's qualification requirements or not having retired. As of June 30, 2022, 29 of these active participants have met the qualification requirements and will receive benefits upon retirement, with the costs covered by the Veba Trust assets. The trust's primary purpose is to ensure the continued health care coverage of eligible retirees from the water district.
What is the revenue of Rancho California Water District Veba Trust?
Rancho California Water District Veba Trust's revenue in 2023 was $1,358,970.
Who are the executives of Rancho California Water District Veba Trust and what are their salaries?
There is 1 key member and their salary:
- Compensation: $21,953
- Related: $30,774
- Other: $0
Where can I find the form 990 for Rancho California Water District Veba Trust?
Rancho California Water District Veba Trust's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Rancho California Water District Veba Trust
Rancho California Water District Veba Trust is a nonprofit entity dedicated to providing retiree health care benefits to eligible employees of Rancho California Water District, a public entity. Its mission is to ensure that these retired employees, including retired board members, receive necessary health and dental insurance premium payments in accordance with the terms of the Rancho Water District Retirement Medical Benefits Plan. The trust fund was utilized during the 2021-2022 fiscal year to provide benefits to 105 retirees, while there are currently 147 active participants who have not yet met the qualification requirements or retired to become eligible for benefits. As of June 30, 2022, 29 of these active participants have met the qualification requirements and will receive benefits upon retirement, funded by the trust assets.
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Impact
October, 2024
Rancho California Water District Veba Trust provides significant support for retiree health care benefits, directly impacting the well-being of retired employees. During the fiscal year from July 1, 2021, to June 30, 2022, the Trust funded health and dental insurance premiums for 105 retired employees and board members, ensuring access to essential health care services.
Additionally, the Trust plays a vital role in preparing for future retirees, with 147 active participants currently covered under the benefit plan. Among these, 29 participants have already met the qualification requirements and are poised to receive benefits upon retirement. This forward-looking aspect helps secure health care for the workforce's future, fostering a sense of security and stability among employees as they transition into retirement. Overall, the activities of the Rancho California Water District Veba Trust bolster the financial and health security of those who dedicated their careers to public service in the water district.
This information is meant to be a general summary of Rancho California Water District 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: $953,339
- Gross Receipts: $7,857,985
Assets and Liabilities:
- Total Assets: $33,482,480
- Total Liabilities: $0
- Net Assets: $33,482,480
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Organization Details
Founding Year
2003
NTEE Category
Code: Y44 - Mutual benefit
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