Dte Energy Company Veba Tr
- Assets
- $1.3b
- Revenue
- -$131.1m
- Investments
- $441.3m
- Employees
- 0
- Location
- Detroit, MI
- Founding
- 04/2006
- Data as of
- 12/2022
- 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
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 |
|---|---|---|
Prudential Insurance Co Investment Management | 12/30/22 | $3,697,445 |
Goldman Sachs & Co Llc Investment Management | 12/30/22 | $419,899 |
Pimco Investment Management | 12/30/22 | $419,648 |
Nisa Investment Advisors Llc Investment Management | 12/30/22 | $335,084 |
Neuberger Berman Investment Advisor Investment Management | 12/30/22 | $263,816 |
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 | $10,964,300 |
| Investment income | -$117,406,544 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$24,681,921 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | -$131,124,165 |
| 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 | $85,700,311 |
| Compensation of current officers, directors, key employees. | $444,335 |
| 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 | $6,017,573 |
| Fees for services: Other | $151,787 |
| 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 | $92,314,006 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $80,893,953 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $23,728,307 |
| 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 | $797,630,688 |
| Investments—other securities | $441,324,954 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,343,577,902 |
| Accounts payable and accrued expenses | $29,877,573 |
| 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 | $29,877,573 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $1,313,700,329 |
| 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 | $1,343,577,902 |