Semco Energy Inc Union Veba Tr

Organization Overview

Semco Energy Inc Union Veba Tr is located in Port Huron, MI. The organization was established in 1999. 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. Semco Energy Inc Union 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, Semco Energy Inc Union Veba Tr generated $1.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.8% each year. All expenses for the organization totaled $1.0m during the year ending 12/2021. While expenses have increased by 5.4% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

PROVIDE FUTURE MEDICAL BENEFITS FOR SEMCO MICHIGAN UNION RETIREES

Describe the Organization's Program Activity:

Part 3 - Line 4a

FUNDING OF TRUST TO PAY FUTURE MEDICAL BENEFITS FOR SEMCO MICHIGAN UNION RETIREES AND THEIR DEPENDENTS


SEMCO MICHIGAN UNION RETIREE MEDICAL CLAIMS


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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$0
Investment income $174,776
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $1,422,034
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $1,596,810

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