Prior Lake-Savage Area Schools Veba Trust is located in Prior Lake, MN. The organization was established in 2016. 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. Prior Lake-Savage Area Schools 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 06/2021, Prior Lake-Savage Area Schools Veba Trust generated $697.7k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 23.0% each year . All expenses for the organization totaled $107.5k during the year ending 06/2021. While expenses have increased by 15.6% per year over the past 6 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
VOLUNTARY EMPLOYEES BENEFICIARY ASSOCIATION. THE TRUST WAS FORMED FOR THE SOLE PURPOSE OF FUNDING RETIREE HEALTH CARE BENEFITS TO ELIGIBLE PLAN PARTICIPANTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TOTAL EXPENSE IS COMPRISED OF HEALTH CARE BENEFITS PAID TO ELIGIBLE PARTICIPANTS. TOTAL REVENUE REPRESENTS THE ORGANIZATIONS PROGRAM-RELATED CONTRIBUTIONS TO THE VEBA TRUST FOR THE PURPOSE OF FUNDING RETIREE HEALTH CARE BENEFITS TO PARTICIPANTS.
Statement of Revenue | |
---|---|
Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
Investment income | $57,288 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $0 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $697,713 |
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 | $10,572 |
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 | $107,451 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $0 |
Savings and temporary cash investments | $2,869,370 |
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 | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $2,869,370 |
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 | $2,869,370 |
Total liabilities and net assets/fund balances | $2,869,370 |
Over the last fiscal year, we have identified 1 grants that Prior Lake-Savage Area Schools Veba Trust has recieved totaling $12,000.
Awarding Organization | Amount |
---|---|
Prior Lake Rotary Foundation Prior Lake, MN PURPOSE: Support for programs. | $12,000 |
Organization Name | Assets | Revenue |
---|---|---|
Mdu Resources Group Inc Bismarck, ND | $6,564,794 | $94,032,300 |
North Central States Regional Council Of Carpenters Health Fund Eau Claire, WI | $165,171,349 | $79,291,900 |
Xcel Energy Inc Veba Trust For Retired Employees Minneapolis, MN | $445,588,798 | $63,575,592 |
Miscellaneous Drivers And Helpers Bloomington, MN | $89,661,981 | $78,666,638 |
Andersen Corporation VEBA H&W Ben Trust Bayport, MN | $0 | $67,120,604 |
Milwaukee Drivers Health & Welfare Trust Fund Milwaukee, WI | $57,541,772 | $67,739,083 |
Wisconsin Electrical Employees Benefits Funds Llc Madison, WI | $213,343,056 | $79,820,433 |
Ibew 292 Health Care Plan Maple Grove, MN | $177,979,838 | $76,280,696 |
Sheet Metal No 10 Benefit Fund Maplewood, MN | $81,918,266 | $65,399,612 |
Dakotas & Western Minnesota Industry Health & Welfare Fund Fargo, ND | $77,871,417 | $50,890,330 |
Wells Fargo & Co Employee Benifit Trust For Retiree Minneapolis, MN | $295,455,025 | $46,494,282 |
Wisconsin Sheet Metal Health And Benefit Trust Fund Waukesha, WI | $44,518,635 | $44,027,701 |