Promed Molded Products Veba Health Savings Tr
- Assets
- $1.2m
- Revenue
- $245.3k
- Investments
- $1.2m
- Employees
- 0
- Location
- Minneapolis, MN
- Founding
- 03/2007
- Data as of
- 05/2021
- EIN
- 38-3733417
Organization Overview
Promed Molded Products Veba Health Savings Tr is located in Minneapolis, MN. The organization was established in 2007. According to its NTEE Classification (Y33) the organization is classified as: Teachers Retirement Fund Associations, 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. Promed Molded Products Veba Health Savings Tr is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 05/2021, Promed Molded Products Veba Health Savings Tr generated $245.3k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.4% each year. All expenses for the organization totaled $164.6k during the year ending 05/2021. 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 FUND REIMBURSEMENT OF MEDICAL EXPENSES UNDER A HEALTH REIMBURSEMENT ARRANGEMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HEALTH REIMBURSEMENT ARRANGEMENT FUNDED BY ORGANIZATION HAD APPROXIMATELY 219 ACTIVE PARTICIPANTS WHO RECEIVED MEDICAL CARE IN THE AMOUNT OF $164,574.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $13,032 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $13,768 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $245,306 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $164,574 |
| 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 | $0 |
| Fees for services: Other | $0 |
| 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 | $164,574 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $7,483 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,231,497 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,238,980 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $1,238,980 |
| Total liabilities and net assets/fund balances | $1,238,980 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Mdu Resources Group Inc Bismarck, ND | $6,564,794 | $94,032,300 |
Dte Energy Company Veba Tr Detroit, MI | $1,684,046,247 | $124,695,539 |
Automobile Mechanics-701 Union And Industry Welfare Fund-Trust Burr Ridge, IL | $251,648,514 | $107,015,909 |
Wolverine Power Marketing Cooperative Cadillac, MI | $31,666,206 | $93,147,778 |
Chicago & Vicinity Laborers Distrct Cncil Retire Health & Welfare Plan Westchester, IL | $638,454,439 | $130,888,796 |
National Board Of Ymca Employee Benefit Trust Chicago, IL | $37,583,698 | $83,776,536 |
Teamster Members Retirement Plan Carol Stream, IL | $851,661,289 | $51,507,103 |
Mcmaster-Carr Supply Co Employees Welfare Tr Elmhurst, IL | $451,957,330 | $124,315,819 |
Exxon Mobil Master Welfare Benefit Trust Chicago, IL | $112 | $87,541,130 |
Michigan Regional Council Of Carpenters Employee Benes Veba Fd Troy, MI | $71,378,696 | $86,420,144 |
Exelon Corporation Employees Benefit Trust For Union Employees Chicago, IL | $1,320,710,962 | -$13,082,698 |
Plumbers Welfare Fund-130 U A Chicago, IL | $169,410,455 | $79,585,968 |