Dte Energy Company Veba Tr
- Assets
- $1.7b
- Revenue
- $124.7m
- Investments
- $662.6m
- Employees
- 0
- Location
- Detroit, MI
- Founding
- 04/2006
- Data as of
- 12/2021
- EIN
- 20-0471790
Organization Overview
Dte Energy Company Veba Tr is located in Detroit, MI. The organization was established in 2006. According to its NTEE Classification (Y43) the organization is classified as: Voluntary Employees Beneficiary Associations (Non-Government), under the broad grouping of Mutual & Membership Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Dte Energy Company Veba Tr is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 12/2021, Dte Energy Company Veba Tr generated $124.7m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (8.1%) each year. All expenses for the organization totaled $94.6m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE VEBA WAS ESTABLISHED FOR THE PURPOSE OF PROVIDING FOR THE FUNDING OF PAYMENTS OF CERTAIN POST-RETIREMENT LIFE INSURANCE, SICKNESS, ACCIDENT, AND OTHER SIMILAR BENEFITS UNDER CERTAIN WELFARE BENEFIT PLANS MAINTAINED OR CONTRIBUTED TO BY DTE ENERGY COMPANY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
POST-RETIREMENT LIFE INSURANCE, SICKNESS, ACCIDENT, AND OTHER SIMILAR BENEFITS TO ELIGIBLE EMPLOYEES AND BENEFICIARIES.
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Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Dte Energy Corporate Services Llc Investment Management | 12/30/21 | $1,549,173 |
Prudential Insurance Co Investment Management | 12/30/21 | $1,154,115 |
Goldman Sachs & Co Llc Investment Management | 12/30/21 | $997,104 |
Pimco Investment Management | 12/30/21 | $564,376 |
Kayne Anderson Capital Advisors Lp Investment Management | 12/30/21 | $553,928 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $12,686,593 |
| Investment income | $65,206,038 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $46,802,908 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $124,695,539 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $89,350,823 |
| Compensation of current officers, directors, key employees. | $334,919 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $4,621,533 |
| Fees for services: Other | $275,686 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $94,582,961 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $70,879,723 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $17,751,082 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $932,817,588 |
| Investments—other securities | $662,597,854 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,684,046,247 |
| Accounts payable and accrued expenses | $18,820,143 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $18,820,143 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $1,665,226,104 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,684,046,247 |