Overview
What is Essential Power Llc Veba Health Savings Trust?
Essential Power Llc Veba Health Savings Trust is a nonprofit organization, specifically established to fund medical expenses under a Health Reimbursement Arrangement. Based in Charlotte, North Carolina, they operate with approximately 5 participants who receive medical care, amounting to approximately $270,017. The organization's primary mission is to provide financial support for medical expenses, ensuring healthcare accessibility for its participants.
Is Essential Power Llc Veba Health Savings Trust legitimate?
Essential Power Llc Veba Health Savings Trust is a legitimate nonprofit organization registered as a 501(c)(9) entity. Essential Power Llc Veba Health Savings 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
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What is the mission statement of Essential Power Llc Veba Health Savings Trust?
The Essential Power Llc Veba Health Savings Trust is dedicated to funding the reimbursement of medical expenses under a Health Reimbursement Arrangement. This organization, through its Health Reimbursement Arrangement, provided coverage for approximately 5 individuals who incurred medical expenses totaling $270,017. The primary objective of the Essential Power Llc Veba Health Savings Trust is to support its participants in managing their medical expenses by offering reimbursement under the Health Reimbursement Arrangement. The Trust does not engage in advocacy, research, or directly providing healthcare services but instead focuses on the financial aspect of healthcare expenses.
Who is the CEO of Essential Power Llc Veba Health Savings Trust?
Charles Schwab Bank is the Principal Officer of Essential Power Llc Veba Health Savings Trust.
What is the revenue of Essential Power Llc Veba Health Savings Trust?
Essential Power Llc Veba Health Savings Trust's revenue in 2022 was $75,540.
Who are the executives of Essential Power Llc Veba Health Savings Trust and what are their salaries?
There is 1 key member and their salary:
- Compensation: $0
- Related: $0
- Other: $1,000
Where can I find the form 990 for Essential Power Llc Veba Health Savings Trust?
Essential Power Llc Veba Health Savings Trust's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Essential Power Llc Veba Health Savings Trust
Essential Power Llc Veba Health Savings Trust is an organization dedicated to funding medical expenses under a Health Reimbursement Arrangement. This nonprofit's mission is to provide financial assistance for medical costs, ensuring that its approximately five participants can access necessary healthcare services. The Trust reimburses the medical bills of its participants, amounting to a total of $270,017 in medical care. Essential Power Llc Veba Health Savings Trust plays a crucial role in supporting its members by covering their medical expenses, thereby alleviating financial burdens and enabling them to focus on their health and well-being.
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Impact
October, 2024
Essential Power LLC VEBA Health Savings Trust significantly impacts its participants by providing financial support for medical expenses through its health reimbursement arrangement. With approximately five participants utilizing the program, it funded $270,017 in medical care, effectively alleviating the financial burden associated with healthcare costs. This arrangement not only assists individuals in managing unexpected medical expenses but also promotes overall health and well-being by ensuring access to necessary healthcare services. The trust serves as a critical resource for its members, enhancing their ability to seek medical attention without the added stress of financial constraints.
This information is meant to be a general summary of Essential Power Llc Veba Health Savings 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: $45,024
- Program Service Revenue: $1,699
- Gross Receipts: $145,151
Assets and Liabilities:
- Total Assets: $730,154
- Total Liabilities: $0
- Net Assets: $730,154
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
EMPLOYER CONTRIBUTIONS
Revenue
$1,699
Organization Details
Founding Year
2016
Phone
(704) 672-2706Principal Officer
Charles Schwab Bank
Main Address
13860 BALLANTYNE CORP PL 300, CHARLOTTE, NC, 28277
NTEE Category
Code: Y43 - Mutual benefit
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