Greater Regional Medical Center VEBA Trust

Overview

The Greater Regional Medical Center VEBA Trust is a nonprofit organization based in Creston, Iowa. Established as a Voluntary Employees' Beneficiary Association (VEBA), the trust provides benefits related to life, sickness, accident, and other associated services for its members. The trust is classified under the Mutual/Membership Benefit Organizations category within the National Taxonomy of Exempt Entities (NTEE).

Financial Information

The Greater Regional Medical Center VEBA Trust operates with a fiscal year ending in June. According to the IRS Form 990-EZ filings, the organization reported the following financial data for the fiscal year 2024:

• Total Revenue: $2,010
• Total Expenses: $31,000
• Total Assets: $54,800
• Total Liabilities: $0

Revenue sources for the organization primarily include contributions and investment income. In 2024, the breakdown of revenue was approximately 38.3% from contributions and 61.7% from investment income. The organization had no income from program services or fundraising activities during this period[1][2].

Governance

The trust is governed by a board that oversees its operations and ensures compliance with relevant regulations. One of the key officers is Amy Rieck, serving as the Human Resources Officer, who has reported no compensation for her role, which is common in nonprofit organizations where volunteer service is prevalent.

Tax Status

As a 501(c)(9) nonprofit organization, donations to the Greater Regional Medical Center VEBA Trust are not tax-deductible. This classification reflects its purpose of providing employee benefits rather than serving a charitable mission directly accessible to the public.

Conclusion

The Greater Regional Medical Center VEBA Trust plays a crucial role in providing specific benefits to its members, focusing on employee welfare. Through effective financial management and governance, it continues to support its members while maintaining transparency in its operations.