Employee Welfr Benft Pln Tr Of Fpl Grp Inc & Its Afflt Incl Fl Powr &
- Assets
- $36.9m
- Revenue
- $200.6m
- Investments
- $0.0
- Employees
- 0
- Location
- Juno Beach, FL
- Founding
- 02/1988
- Data as of
- 12/2021
- EIN
- 59-2183080
Organization Overview
Employee Welfr Benft Pln Tr Of Fpl Grp Inc & Its Afflt Incl Fl Powr & is located in Juno Beach, FL. The organization was established in 1988. According to its NTEE Classification (Y20) the organization is classified as: Insurance Providers, 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. Employee Welfr Benft Pln Tr Of Fpl Grp Inc & Its Afflt Incl FL Powr & 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, Employee Welfr Benft Pln Tr Of Fpl Grp Inc & Its Afflt Incl FL Powr & generated $200.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.8% each year. All expenses for the organization totaled $210.8m during the year ending 12/2021. While expenses have increased by 1.3% 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
THE PURPOSE OF THE VEBA TRUST IS TO HOLD ASSETS OF THE "NEXTERA ENERGY, INC. EMPLOYEE HEALTH AND WELFARE PLAN" AND THE "NEXTERA ENERGY, INC. RETIREE BENEFITS PLAN".
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE HEALTH AND WELFARE PLAN'S ACTIVITIES ARE TO PROVIDE MEDICAL, DENTAL, LIFE, VISION, PRESCRIPTION DRUG AND LONG/SHORT TERM DISABILITY BENEFITS, COUNSELING, REFERRAL SERVICES, AND REIMBURSEMENT OF PAID MEDICAL AND DEPENDENT CARE EXPENSES THROUGH IRS APPROVED FLEXIBLE SPENDING ACCOUNTS TO ELIGIBLE EMPLOYEES OF NEXTERA ENERGY, INC. THE PLAN IS ADMINISTERED BY INSURANCE COMPANIES AND BY THE COMPANY. AT THE END OF THE YEAR, THERE WERE 15,345 PARTICIPANTS.
THE RETIREE BENEFIT PLAN'S ACTIVITIES ARE TO PROVIDE MEDICAL, LIFE INSURANCE, PRESCRIPTION DRUG BENEFITS, DENTAL, COUNSELING AND REFERRAL SERVICES TO RETIREES OF NEXTERA ENERGY, INC. THE PLAN IS ADMINISTERED BY INSURANCE COMPANIES AND BY THE COMPANY. AT THE END OF THE YEAR, THERE WERE 7,821 PARTICIPANTS.
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Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Webtpa Benefits Administration | 12/30/21 | $10,047,406 |
Caremark Benefits Administration | 12/30/21 | $922,970 |
Employer Direct Healthcare Benefits Administration | 12/30/21 | $794,709 |
Embold Benefits Administration | 12/30/21 | $1,016,404 |
Fidelity Benefits Administration | 12/30/21 | $735,138 |
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 | $199,960,296 |
| Investment income | $10,400 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $663,788 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $200,634,484 |
| 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 | $193,507,453 |
| Compensation of current officers, directors, key employees. | $10,793 |
| 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 | $122,280 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $17,143,659 |
| 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 | $210,784,185 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $453 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $12,784,052 |
| 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 | $21,168,555 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,932,056 |
| Total assets | $36,885,116 |
| Accounts payable and accrued expenses | $669,733 |
| 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 | $669,733 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $36,215,383 |
| 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 | $36,885,116 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Employee Welfr Benft Pln Tr Of Fpl Grp Inc & Its Afflt Incl Fl Powr & Juno Beach, FL | $36,885,116 | $200,634,484 |
Florida Insurance Guaranty Association Inc Tallahassee, FL | $142,504,839 | $69,775,108 |
Health First Inc Welfare Benefit Plan Rockledge, FL | $6,596,881 | $76,084,325 |
Georgia School Board Association Risk & Insurance Management System Lawrenceville, GA | $52,422,531 | $34,786,604 |
Flnc Inc Apopka, FL | $48,544,911 | $28,151,992 |
Florida Workers Compensation Insurance Guaranty Association Tallahassee, FL | $160,792,783 | $30,980,706 |
Mount Sinai Hospital Insurance Trust No 1 Miami Beach, FL | $244,139 | $16,605,515 |
Alabama Farmers Cooperative Employees Welfare Benefit Plan Decatur, AL | $562,417 | $15,709,334 |
Thompson Tractor Co Inc Employee Benefit Trust Birmingham, AL | $5,674,629 | $15,989,582 |
Cwm Employee Benefit Trust Marietta, GA | $2,913,278 | $11,844,381 |
Alabama Insurance Guaranty Association Birmingham, AL | $168,293,024 | $6,611,625 |
Georgia Insurers Insolvency Pool Duluth, GA | $145,962,190 | $6,621,081 |