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← PECO ENERGY COMPANY RETIREE MEDICAL TRUST

Form 990 for tax year 2023

Filed by PECO ENERGY COMPANY RETIREE MEDICAL TRUST.

Totals

Total revenue
$11,575,882
Total expenses
$29,892,730
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$2,949,907
Investment income
$8,625,975
Other revenue
$0
Total assets, end of year
$167,830,091
Total liabilities, end of year
$2,779,939
Net assets or fund balances, end of year
$165,050,152
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 $2,949,907 · related or exempt $2,949,907

  • 3 · Investment income

    total $4,101,422 · related or exempt $1,311,688 · unrelated business $2,789,734

  • 7a · Gross sales of assets other than inventory

    securities $79,151,554

  • 7b · Less cost or other basis and sales expenses

    securities $74,627,001

  • 7c · Gain or loss

    securities $4,524,553

  • 7d · Net gain or loss

    total $4,524,553 · related or exempt -$3,014,962 · unrelated business $7,539,515

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $25,196,280

  • 5 · Compensation of officers, directors and key employees

    total $25,648

  • 11c · Fees: accounting

    total $26,570

  • 11f · Fees: investment management

    total $364,316

  • 11g · Fees: other

    total $69,564

  • 24a · Other expenses: UNREL. BUS. INCOME TAX

    total $2,600,000

  • 24b · Other expenses: CONTRACT ADMINISTRATOR

    total $1,236,126

  • 24c · Other expenses: RECORD KEEPING

    total $300,791

  • 24d · Other expenses: OTHER ADMIN. SERVICES

    total $73,435

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $28,390 · end of year $42,962

  • 2 · Savings and temporary cash investments

    beginning of year $7,381,090 · end of year $8,920,655

  • 4 · Accounts receivable

    beginning of year $318,297 · end of year $338,332

  • 11 · Investments: publicly traded securities

    beginning of year $61,725,004 · end of year $44,216,599

  • 12 · Investments: other securities

    beginning of year $115,084,639 · end of year $114,311,543

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,840,638 · end of year $2,779,939

  • 29 · Capital stock, trust principal or current funds

    beginning of year $182,696,782 · end of year $165,050,152

  • 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 $0 · end of year $0

Mission and programs · 2023

Mission

TO PROVIDE HEALTH AND DENTAL BENEFITS TO ELIGIBLE RETIREES.

Activities or mission (Part I)

TO PROVIDE BENEFITS TO ELIGIBLE MEMBERS.

  • THE VEBA TRUST PROVIDES DENTAL AND MEDICAL BENEFITS TO RETIRED PARTICIPANTS AND THEIR ELIGIBLE DEPENDENTS FROM EMPLOYER AND EMPLOYEE CONTRIBUTION. AS OF DECEMBER 31, 2023, APPROXIMATELY 2,372 MEMBERS AND THEIR SURVIVING SPOUSES WERE ELIGIBLE TO RECEIVE SUCH BENEFITS.

As filed on the 2023 return.

Listed in Part VII

  • The Northern Trust Company

    INSTITUTIONAL TRUSTEE

    Total calculated
    $25,648
    From this org
    $25,648
    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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • EXELON GENERATION CO LLC

    POWER GENERATION · PA

    Directly controlled by EXELON CORPORATION

  • EXELON NUCLEAR SECURITY LLC

    SECURITY TO EXELON'S NUCLEAR POWER PLANTS · DE

    Directly controlled by EXELON CORPORATION

  • EXELON BUSINESS SERVICES CO LLC

    PROVIDES SUPPORT TO OPERATING COMPANIES · DE

    Directly controlled by EXELON CORPORATION

  • EXELON WIND LLC

    POWER GENERATION · DE

    Directly controlled by EXELON CORPORATION

  • EXGEN TEXAS POWER SERVICES LLC

    POWER GENERATION · DE

    Directly controlled by EXELON CORPORATION

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • EXELON CORPORATION

    C · HOLDING COMPANY · DE

  • COMED

    C · ELECTRIC DISTRIBUTION UTILITY · IL

  • PECO ENERGY COMPANY

    C · ELECTRIC DISTRIBUTION UTILITY · PA

  • EXELON POWER LABS

    C · POWER GENERATION · PA

  • CONSTELLATION NEW ENERGY INC

    C · POWER GENERATION · DE

  • BALTIMORE GAS & ELECTRIC CO

    C · ELECTRIC DISTRIBUTION UTILITY · MD

Provenance

Return type
form_990
Tax year
2023
Filed
12 November 2024
IRS schema version
2023v5.1
Source object
202413209349313651

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