Overview
What is Hawaiian Electric Industries Inc Veba Trust For Bargaining Unit Employees?
Hawaiian Electric Industries Inc Veba Trust for Bargaining Unit Employees is a funding mechanism established to support the post-retirement welfare benefits plan for the employees of Hawaiian Electric Company, Inc., and participating employers. This trust serves as a financial vehicle to ensure the continuation of certain benefits for eligible retirees, providing a safety net for these individuals in their later years. The trust's primary objective is to maintain the welfare benefits plan, ensuring its sustainability and continuity for the beneficiaries.
Is Hawaiian Electric Industries Inc Veba Trust For Bargaining Unit Employees legitimate?
Hawaiian Electric Industries Inc Veba Trust For Bargaining Unit Employees is a legitimate nonprofit organization registered as a 501(c)(9) entity. Hawaiian Electric Industries Inc Veba Trust For Bargaining Unit 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 Hawaiian Electric Industries Inc Veba Trust For Bargaining Unit Employees?
The Hawaiian Electric Industries Inc Veba Trust for Bargaining Unit Employees serves as a financing instrument for the post-retirement welfare benefits plan of employees from Hawaiian Electric Company, Inc. and participating employers. The primary objective of this trust is to provide financial support for the retirement welfare benefits of these employees. The trust aims to ensure the continuity of these benefits, thus providing a sense of security and financial stability for the retired employees. The trust operates independently, managing and investing funds to meet the future benefit obligations. The focus is on maintaining the financial viability of the trust, ensuring the benefits are available when needed by the retired employees.
Who is the CEO of Hawaiian Electric Industries Inc Veba Trust For Bargaining Unit Employees?
Kurt K Murao is the Trustee of Hawaiian Electric Industries Inc Veba Trust For Bargaining Unit Employees.
What is the revenue of Hawaiian Electric Industries Inc Veba Trust For Bargaining Unit Employees?
Hawaiian Electric Industries Inc Veba Trust For Bargaining Unit Employees's revenue in 2022 was $8,416,559.
Who are the executives of Hawaiian Electric Industries Inc Veba Trust For Bargaining Unit Employees and what are their salaries?
Here are 2 key members and their salaries:
- Compensation: $106,700
- Related: $36,865
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Hawaiian Electric Industries Inc Veba Trust For Bargaining Unit Employees?
Hawaiian Electric Industries Inc Veba Trust For Bargaining Unit Employees's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Hawaiian Electric Industries Inc Veba Trust For Bargaining Unit Employees
Hawaiian Electric Industries Inc Veba Trust For Bargaining Unit Employees serves as a financing mechanism for the post-retirement welfare benefits plan of employees working for Hawaiian Electric Company, Inc., as well as participating employers. In essence, this trust is dedicated to ensuring the continuation of certain benefits for these employees after they retire. The trust's mission is to provide financial support for the retirement welfare benefits, ensuring that the recipients maintain a certain level of well-being beyond their working years. This trust plays a vital role in safeguarding the financial security of retired employees, providing them with a degree of stability and peace of mind during their post-retirement phase.
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Impact
October, 2024
Hawaiian Electric Industries Inc Veba Trust For Bargaining Unit Employees plays a crucial role in ensuring financial security for employees of Hawaiian Electric Company, Inc. and affiliated employers after retirement. By serving as a funding vehicle for the Post-Retirement Welfare Benefits Plan, the Trust helps to provide essential benefits such as healthcare, life insurance, and other welfare services that employees might require post-employment.
The impact of this Trust is multifaceted. It not only enhances the overall compensation package for employees, making these roles more attractive in a competitive job market, but it also supports employees' well-being during their retirement years. This can lead to increased job satisfaction and retention, as workers are more likely to remain with a company that provides robust post-retirement benefits.
Moreover, the Trust fosters a sense of security among employees, allowing them to focus on their work without the looming worry of financial hardship in retirement. This stability can contribute to a more engaged and productive workforce, ultimately benefiting the companies involved and the local economy in Honolulu and beyond. As a mutual benefit entity, it reflects the commitment of Hawaiian Electric Industries to the welfare of its employees, which can enhance corporate reputation and community trust.
This information is meant to be a general summary of Hawaiian Electric Industries Inc Veba Trust For Bargaining Unit 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: $6,884,951
- Program Service Revenue: $1,531,608
- Gross Receipts: $8,416,559
Assets and Liabilities:
- Total Assets: $128,348,207
- Total Liabilities: $180,901
- Net Assets: $128,167,306
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
EMPLOYEE PLAN CONTRIBUTIONS
Revenue
$1,531,608
Organization Details
Founding Year
1994
Phone
(808) 543-7948Principal Officer
Kurt K Murao
Main Address
PO BOX 730, HONOLULU, HI, 968080730
NTEE Category
Code: Y40 - Mutual benefit
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