Alabama Power Company Post Retirement Welfare Benefit Trust
Atlanta, GA
What do they do?
This is a special trust fund that Alabama Power Company created to save money for their retired workers' healthcare and life insurance. It's like a big piggy bank that holds money and invests it to grow over time so there's enough to pay for retirees' medical bills and insurance.
Their mission:
"To hold and invest money that will be used to pay for medical and life insurance benefits for Alabama Power Company's retired employees."
💵 Money In vs. Money Out (2023)
Money they received
$14.3 million
Money they spent
$14.7 million
⚠️ They spent more than they received. They were short by $417K.
💡 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 | % |
|---|---|---|
Donations from people Contributions from Alabama Power Company to fund the trust | $4.5 million | 46% |
Investment earnings Gains from selling investments and interest earned | $5.3 million | 54% |
Other income Investment income and other miscellaneous revenue | $32K | 0% |
| Total | $9.8 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) Money they paid out for retirees' medical and life insurance benefits | $13.5 million | 92% |
Professional services Management fees, accounting, and investment advisory services | $20K | 0% |
Other expenses Federal and state income taxes | $1.1 million | 8% |
| Total spent | $14.7 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 |
|---|---|---|
| Moses Feagin | Duly Authorized Officer | $0 |
| Bank of New York Mellon | Trustee | $31 |
💡 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) | $280.9 million |
| 💳 Total they owe (debts) | $0 |
| 📊 What's left (net worth) | $280.9 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 traditional programs. Instead, they manage one main activity: holding and investing money that will eventually pay for post-retirement medical and life insurance benefits for Alabama Power Company's former employees.
⚠️ Things you might want to know
This trust spent about $4.9 million more than it received, which suggests they're using up their savings to pay benefits. This isn't necessarily bad for a retirement trust, but it means the fund is getting smaller. They also had significant unrealized investment losses of $86.5 million, though this is likely due to market conditions affecting all investors.
📄 Where did we get this info?
This comes from the IRS Form 990 that Alabama Power Company Post Retirement Welfare Benefit Trust 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.