Rancho California Water District Veba Tr

Organization Overview

Rancho California Water District Veba Tr is located in Temecula, CA. The organization was established in 2005. 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. Rancho California Water District Veba Tr 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, Rancho California Water District Veba Tr generated $1.6m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (3.0%) each year. All expenses for the organization totaled $1.8m during the year ending 06/2021. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

TO PROVIDE RETIREE HEALTH CARE BENEFITS TO ELIGIBLE EMPLOYEES OF RANCHO CALIFORNIA WATER DISTRICT, A PUBLIC ENTITY.

Describe the Organization's Program Activity:

Part 3 - Line 4a

DURING THE JULY 1, 2020 - JUNE 30, 2021 FISCAL YEAR, FUNDS FROM THE VEBA TRUST WERE USED TO PROVIDE BENEFITS TO 98 RETIRED EMPLOYEES AND RETIRED BOARD MEMBERS OF RANCHO CALIFORNIA WATER DISTRICT IN ACCORDANCE WITH THE TERMS OF THE RANCHO WATER DISTRICT RETIREMENT MEDICAL BENEFITS PLAN. THE BENEFITS PROVIDED WERE THE PAYMENT OF HEALTH AND DENTAL INSURANCE PREMIUMS. IN ADDITION, THERE ARE 141 ACTIVE PARTICIPANTS IN THE PLAN THAT ARE NOT CURRENTLY ELIGIBLE TO RECEIVE BENEFITS FROM THE PLAN BECAUSE THEY HAVE NOT MET THE QUALIFICATION REQUIREMENTS OF THE PLAN AND/OR HAVE NOT RETIRED. OF THESE 141 ACTIVE PARTICIPANTS, 121 HAVE MET THE PLAN QUALIFICATION REQUIREMENTS AS OF JUNE 30, 2021 AND WILL RECEIVE BENEFITS UNDER THE PLAN, AND PAID FOR FROM THE TRUST ASSETS IN THE VEBA TRUST, UPON RETIREMENT.


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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$475,604
Investment income $824,099
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $287,328
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $1,587,031

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