Form 990 for tax year 2023
Filed by POWER ENGINEERS INC EMPLOYEE BENEFIT PLAN.
Totals
- Total revenue
- $54,914,357
- Total expenses
- $54,146,285
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $54,828,663
- Investment income
- $85,694
- Other revenue
- $0
- Total assets, end of year
- $5,402,242
- Total liabilities, end of year
- $0
- Net assets or fund balances, end of year
- $5,402,242
- Program services expenses (Part IX)
- not reported
- Management and general expenses
- not reported
- Fundraising expenses
- not reported
- Program service expenses (Part III)
- not reported
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
2a · Program service revenue: Employer Contributions
total $45,215,923 · related or exempt $45,215,923
-
2b · Program service revenue: Participant Contributions
total $9,228,940 · related or exempt $9,228,940
-
2c · Program service revenue: COBRA Contributions
total $383,800 · related or exempt $383,800
-
3 · Investment income
total $85,694 · unrelated business $85,694
Functional expenses
Part IX, the statement of functional expenses.
-
4 · Benefits paid to or for members
total $49,540,518
-
5 · Compensation of officers, directors and key employees
total $5,000
-
11g · Fees: other
total $4,600,767
Balance sheet
Part X, book values.
-
2 · Savings and temporary cash investments
beginning of year $3,642,453 · end of year $3,532,137
-
4 · Accounts receivable
beginning of year $991,717 · end of year $1,870,105
-
29 · Capital stock, trust principal or current funds
beginning of year $0 · end of year $0
-
30 · Paid-in or capital surplus, or land, building or equipment fund
beginning of year $0 · end of year $0
-
31 · Retained earnings, endowment or other funds
beginning of year $4,634,170 · end of year $5,402,242
Mission and programs · 2023
Mission
None
Activities or mission (Part I)
The trust provides medical, vision, and dental benefits to all full-time, part-time, and temporary employees of Power Engineers, Inc., who are 18 or more years of age and their dependents.
-
Payment of medical, vision and dental claims for eligible employees and dependents under the Power Engineers, Inc. VEBA Trust. For the year ended December 31, 2023 the VEBA served the following participants: 3,288 Active participants; 42 separated participants receiving benefits; 197 separated participants entitled to future benefits.
As filed on the 2023 return.
Listed in Part VII
-
Principal Financial Group
Trustee
- Total calculated
- $5,000
- From this org
- $5,000
- From related orgs
- $0
- Other
- $0
- Hours/week
- 1
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.
Grants on this return
No itemized grants to organizations on this return.
Taxable family on this return
Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.
Related corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
POWER Engineers Inc
C · Engineering Consulting/VEBA sponsor · ID
-
POWER Testing & Energization Inc
-
POWER Constructors Inc
-
POWER AE Consulting Inc
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 7 November 2024
- IRS schema version
- 2023v5.1
- Source object
- 202443169349303684
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