Overview
What is Union Bank Veba For Employees?
Union Bank Veba For Employees is a nonprofit organization, specifically a Voluntary Employees' Beneficiary Association (VEBA) under IRC Section 501(C)(9), located in Pittsburgh, Pennsylvania. Its primary purpose is to serve as a fund-holding entity for U.S. Bancorp, the successor to MUFG Union Bank, N.A. This nonprofit is devoted to paying eligible benefits incurred by employees under certain welfare benefit plans sponsored by U.S. Bancorp. Throughout the year, the organization focuses on disbursing welfare benefits for its members, contributing to the well-being of its employee-beneficiaries.
Is Union Bank Veba For Employees legitimate?
Union Bank Veba For Employees is a legitimate nonprofit organization registered as a 501(c)(9) entity. Union Bank Veba For Employees 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 Union Bank Veba For Employees?
Union Bank Veba for Employees, as a voluntary employees' beneficiary association under IRC section 501(C)(9), solely exists to manage funds for qualifying benefits incurred by employees under certain welfare benefit plans sponsored by U.S. Bancorp (the successor to MUFG Union Bank, N.A.). Its primary exempt purpose during the year was to pay for these welfare benefits for its members. In essence, this entity serves as a financial intermediary, ensuring that eligible employees receive their due benefits under the sponsored welfare plans.
Who is the CEO of Union Bank Veba For Employees?
Unavailable
What is the revenue of Union Bank Veba For Employees?
Union Bank Veba For Employees's revenue in 2022 was $103,893.
Who are the executives of Union Bank Veba For Employees and what are their salaries?
There is 1 key member and their salary:
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Union Bank Veba For Employees?
Union Bank Veba For Employees's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Union Bank Veba For Employees
Union Bank Veba For Employees, a voluntary employees' benefit association under IRC Section 501(C)(9), exists solely for the purpose of holding funds to cover qualifying benefits incurred by employees under certain welfare benefit plans sponsored by U.S. Bancorp (the successor to MUFG Union Bank, N.A.). This organization's primary exempt purpose during the year was the payment of welfare benefits for its members. In simpler terms, Union Bank Veba For Employees serves as a financial entity that collects and manages funds to pay for specific benefits for its employee members, as part of the welfare benefit plans supported by U.S. Bancorp.
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Impact
October, 2024
Union Bank Veba for Employees primarily impacts its members by providing a structured means to access welfare benefits through a voluntary employees' beneficiary association. This entity is specifically designed to hold and manage funds that are utilized for qualifying benefits, ensuring employees can cover essential healthcare and welfare needs. By focusing on welfare benefits under specific plans sponsored by U.S. Bancorp, the organization helps create a safety net for employees, allowing them to navigate financial challenges that arise from medical expenses or other qualifying costs related to their welfare.
In a broader sense, the organization fosters a sense of security and support among employees, enhancing overall morale and job satisfaction. The availability of these benefits can also contribute to employee retention and loyalty, demonstrating the employer’s commitment to their workforce's well-being. Overall, the Union Bank Veba for Employees plays a critical role in promoting the health and financial stability of its members, ultimately contributing to a more resilient workforce.
This information is meant to be a general summary of Union Bank Veba For Employees. 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: $103,893
- Gross Receipts: $103,893
Assets and Liabilities:
- Total Assets: $6,152,663
- Total Liabilities: $0
- Net Assets: $6,152,663
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Organization Details
Founding Year
1997
Phone
(412) 236-7626Main Address
500 GRANT STREET STE 4040, PITTSBURGH, PA, 15219
NTEE Category
Code: Y40 - Mutual benefit
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