Alabama Power Company Post Retirement Welfare Benefit Trust
Atlanta, GA
What do they do?
This is essentially a trust fund that Alabama Power Company uses to save money for retiree healthcare benefits. The trust invests the money Alabama Power puts in and uses it to pay medical and life insurance costs for Alabama Power's retired workers.
Their mission:
"This organization exists to receive, hold, and invest money that Alabama Power Company sets aside to pay for medical and life insurance benefits for their 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.
📥 Where did the money come from? (2023)
| Source | Amount | % |
|---|---|---|
| 🏢 Money earned from services | $14.3 million | 100% |
| 📈 Money earned from investments | $68K | 0% |
| Total | $14.3 million | 100% |
📤 Where did the money go? (2023)
| What it paid for | Amount | % |
|---|---|---|
| 🎯 The actual mission (programs & services) | $14.3 million | 97% |
| 👔 Boss paychecks (executives) | $6 | 0% |
| Total spent | $14.7 million | 100% |
👥 Who runs this organization? (2023)
| Name | Job Title | Paid |
|---|---|---|
| Moses Feagin | Duly Authorized Officer | $0 |
🏦 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 |
🎯 What programs do they run?
The organization has one main program: funding post-retirement medical and life insurance benefits for Alabama Power Company retired employees. They spent $14.7 million on this program in 2022, which included $13.5 million in benefit payments to or for retirees.
⚠️ Things you might want to know
The trust had a significant deficit in 2022, spending $4.9 million more than it received. However, this appears normal for this type of benefit trust as it's designed to pay out benefits and may need to draw down assets during certain periods. The organization operates with minimal overhead costs and executive compensation is essentially zero, which is appropriate for this type of trust.
📄 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.