Pepco Holdings Inc Veba Trust
- Assets
- $399.4m
- Revenue
- $33.8m
- Investments
- $94.5m
- Employees
- 0
- Location
- Chicago, IL
- Founding
- 05/1999
- Data as of
- 12/2021
- EIN
- 51-0385292
Organization Overview
Pepco Holdings Inc Veba Trust is located in Chicago, IL. 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. Pepco Holdings Inc Veba Trust 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, Pepco Holdings Inc Veba Trust generated $33.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.3% each year. All expenses for the organization totaled $41.4m during the year ending 12/2021. While expenses have increased by 7.2% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE FOR THE PAYMENT OF HEALTH AND WELFARE BENEFITS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE VEBA TRUST PROVIDED FOR THE PAYMENT OF HEALTH AND WELFARE BENEFITS OF 5,513 RETIREES AND THEIR SURVIVING SPOUSES.
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Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Alight Solutions Llc Record Keeping | 12/30/21 | $706,053 |
Willis Towers Watson Us Llc Actuarial Services | 12/30/21 | $272,553 |
Blackrock Financial Management Investment Manager | 12/30/21 | $199,341 |
Harding Loevner Lp Investment Manager | 12/30/21 | $128,841 |
Ariel Capital Management Llc Investment Manager | 12/30/21 | $121,249 |
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 | $11,387,526 |
| Investment income | $5,608,310 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $16,768,634 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $33,764,470 |
| 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 | $34,191,413 |
| Compensation of current officers, directors, key employees. | $85,587 |
| 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 | $27,600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $596,416 |
| Fees for services: Other | $289,657 |
| 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 | $41,379,391 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $339,388 |
| Savings and temporary cash investments | $12,948,171 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $9,847,205 |
| 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 | $281,249,969 |
| Investments—other securities | $94,488,338 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $551,252 |
| Total assets | $399,424,323 |
| Accounts payable and accrued expenses | $954,988 |
| 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 | $15,375,005 |
| Total liabilities | $16,329,993 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $383,094,330 |
| 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 | $399,424,323 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Seiu Local 1 & Participating Employers Health Trust Chicago, IL | $156,543,336 | $132,715,763 |
Hyatt Corporation Welfare Benefit Trust Chicago, IL | $6,191,969 | $127,454,104 |
Cook Group Health Plan Trust Bloomington, IN | $8,118,336 | $121,299,897 |
Kindred Operating Inc Benefit Trust Louisville, KY | $0 | $114,052,809 |
Wisconsin Laborers Health Fund Deforest, WI | $353,332,580 | $101,359,419 |
Mid Central Operating Engineers Health & Welfare Fund Terre Haute, IN | $164,227,966 | $120,915,120 |
Olin Employees Benefit Association Trust Clayton, MO | $9,540,806 | $107,158,504 |
Seiu Healthcare Il Home Care & Child Care Fund Chicago, IL | $235,309,739 | $118,872,167 |
Kraft Foods Global Inc Retiree Health And Life Benefit Tr Chicago, IL | $1,155,325,144 | $69,120,518 |
Teamsters & Employers Welfare Trust Of Illinois Earth City, MO | $101,818,713 | $113,173,281 |
Indiana Laborers Welfare Fund Terre Haute, IN | $297,651,155 | $117,994,109 |
Automobile Mechanics-701 Union And Industry Welfare Fund-Trust Burr Ridge, IL | $251,648,514 | $107,015,909 |