Auxiliaries Multiple Employer Veba

Organization Overview

Auxiliaries Multiple Employer Veba is located in Torrance, CA. The organization was established in 2011. According to its NTEE Classification (Y44) the organization is classified as: Voluntary Employees Beneficiary Associations 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. Auxiliaries Multiple Employer Veba is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.

For the year ending 06/2022, Auxiliaries Multiple Employer Veba generated $7.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.1% each year. All expenses for the organization totaled $1.4m during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

THE VEBA HAS BEEN FORMED TO PROVIDE A MECHANISM FOR AUXILIARIES OF THE CALIFORNIA STATE UNIVERSITY SYSTEM TO FUND THEIR RETIREE WELFARE BENEFIT PLAN OBLIGATIONS ON A JOINT BASIS. EACH PARTICIPATING AUXILIARY HAS ADOPTED ITS OWN RETIREE WELFARE BENEFIT PLAN AND WILL FUND ITS OBLIGATIONS UNDER ITS PLAN IN THE VEBA.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE VEBA ENSURES ALL RETIREE MEDICAL BENEFITS FOR THE PARTICIPATING AUXILIARIES. EACH PARTICIPATING AUXILIARY WILL PAY THE INSURANCE PREMIUMS FOR ITS RETIREES. THE VEBA WILL REIMBURSE EACH AUXILIARY TO THE EXTENT DIRECTED BY THE AUXILIARY. THE VEBA INCURS EXPENSES FOR ADMINISTRATION, INVESTMENT MANAGEMENT, ACCOUNTING AND LEGAL SERVICES. THE EXPENSES WILL BE ALLOCATED TO THE PARTICIPATING AUXILIARIES' SUB-TRUST ACCOUNTS MONTHLY BASED UPON THE BALANCE IN THEIR SUB-TRUST ACCOUNT.


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Board, Officers & Key Employees

Name (title)Compensation
Tariq Marji
Trustee
$0
Brian Nowlin
Trustee
$0
Robert DE Witt
Trustee
$0
Dwayne Brummett
Trustee
$0
Jim Westbrook
Trustee
$0
Craig Barth
Trustee
$0

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$2,784,406
Investment income $6,570,630
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales -$1,809,581
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $7,545,455

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