Agl Resources Inc Postretirement Life Insurance Coverages
Atlanta, GA
What do they do?
This is a trust that helps pay for life insurance for people who used to work at Atlanta Gas Light Company after they retire. It's like a savings account that helps cover insurance costs for former workers.
Their mission:
"To provide life insurance benefits to retired employees of Atlanta Gas Light Company"
💵 Money In vs. Money Out (2023)
Money they received
$2.0 million
Money they spent
$2.3 million
⚠️ They spent more than they received. They were short by $265K.
💡 This shows the big picture: how much came in and how much went out for the year.
📥 Where did the money come from? (2023)
| Source | Amount | % |
|---|---|---|
Investment earnings Money earned from stocks, bonds, and other investments | $1.8 million | 100% |
| Total | $1.8 million | 100% |
💡 This shows all the different ways this organization received money during the year.
📤 Where did the money go? (2023)
| What it paid for | Amount | % |
|---|---|---|
Helping people directly (grants & aid given out) Life insurance benefits paid to retired employees and their families | $1.9 million | 78% |
Executive/officer pay Payment to the bank that manages the trust | $29K | 1% |
Professional services Fees for legal, accounting, and other professional help | $16K | 1% |
Other expenses Taxes, foreign tax withholding, and administration fees | $479K | 20% |
| Total spent | $2.4 million | 100% |
💡 This is the real breakdown from their tax filing. It shows exactly what they spent money on.
👥 Who runs this organization? (2023)
| Name | Job Title | Paid |
|---|---|---|
| The Bank of New York Mellon | Trustee | $28,916 |
💡 These are the people who make decisions for this organization and how much they were paid for the year.
🏦 What do they own vs. what do they owe? (2023)
| 💰 Total stuff they own (assets) | $49.4 million |
| 💳 Total they owe (debts) | $0 |
| 📊 What's left (net worth) | $49.4 million |
💡 Their net worth is positive, meaning they own more than they owe. This is generally a healthy sign.
🎯 What programs do they run?
They don't run programs like a typical charity. Instead, they manage money and investments to pay for life insurance benefits for retired Atlanta Gas Light Company employees.
⚠️ Things you might want to know
They spent about $600,000 more than they received, which means they're using up their savings. This could be a concern if it continues long-term. However, this is normal for retirement benefit trusts as they pay out benefits to retirees.
📄 Where did we get this info?
This comes from the IRS Form 990 that Agl Resources Inc Postretirement Life Insurance Coverages filed for the year 2023. Every nonprofit has to tell the government how they spent their money, and that info is public.
👉 See the original tax form yourself →Data from ProPublica Nonprofit Explorer. Plain English summaries created with AI and reviewed for accuracy.