Gbu Financial Life
- Assets
- $3.8b
- Revenue
- $647.4m
- Investments
- $0.0
- Employees
- 103
- Location
- Pittsburgh, PA
- Founding
- 11/1940
- Data as of
- 12/2021
- EIN
- 25-0502660
Organization Overview
Gbu Financial Life is located in Pittsburgh, PA. The organization was established in 1940. According to its NTEE Classification (Y40) the organization is classified as: Fraternal Societies, under the broad grouping of Mutual & Membership Benefit and related organizations. As of 12/2021, Gbu Financial Life employed 103 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes. Gbu Financial Life is a 501(c)(8) and as such, is described as a "Fraternal Beneficiary Society and/or Association" by the IRS.
For the year ending 12/2021, Gbu Financial Life generated $647.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.0% each year. All expenses for the organization totaled $621.0m during the year ending 12/2021. While expenses have increased by 9.6% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
LIFE INSURANCE, ANNUITIES, FRATERNAL ACTIVITIES AND OTHER BENEFITS TO MEMBERS OF THE SOCIETY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LIFE INSURANCE, ANNUITIES, FRATERNAL ACTIVITIES AND OTHER BENEFITS TO MEMBERS OF THE SOCIETY.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William W Hunt Chief Executive Officer | OfficerTrustee | 40 | $537,149 |
Lesley Mann Svp/cmo | Officer | 40 | $378,680 |
Timothy King Vp/chief Investment Officer | Officer | 40 | $305,312 |
Matthew M Blistan Jr National Vice President | Officer | 40 | $225,903 |
Deborah L Morgan Vice President Of Operations | Officer | 40 | $213,800 |
Douglas A Ulrich Vice President/controller | Officer | 40 | $210,983 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ipipeline Inc Professional Service | 12/30/21 | $1,147,674 |
Heeter Marketing | 12/30/21 | $405,146 |
American Insurance Marketing Insurance | 12/30/21 | $353,637 |
Hoffmann Murtaugh Marketing | 12/30/21 | $593,644 |
Optimum Reinsurance Co Reinsurance | 12/30/21 | $606,362 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $21,956 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $21,956 |
| Total Program Service Revenue | $485,894,617 |
| Investment income | $161,278,730 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $52,824 |
| Net Gain/Loss on Asset Sales | $52,858 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $647,407,741 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $592,868,532 |
| Compensation of current officers, directors, key employees. | $2,363,028 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,789,552 |
| Pension plan accruals and contributions | $939,808 |
| Other employee benefits | $565,258 |
| Payroll taxes | $309,875 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $146,499 |
| Fees for services: Accounting | $191,691 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $134,289 |
| Fees for services: Other | $309,910 |
| Advertising and promotion | $879,247 |
| Office expenses | $1,636,641 |
| Information technology | $136,210 |
| Royalties | $0 |
| Occupancy | $119,512 |
| Travel | $119,219 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $124,465 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $727,123 |
| Insurance | $132,387 |
| All other expenses | $0 |
| Total functional expenses | $621,002,178 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $136,291 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,790,335 |
| Investments—publicly traded securities | $3,660,402,160 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $119,394,565 |
| Total assets | $3,781,723,351 |
| Accounts payable and accrued expenses | $346,915 |
| Grants payable | $0 |
| Deferred revenue | $113,138 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,515,151,700 |
| Total liabilities | $3,515,611,753 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $266,111,598 |
| Total liabilities and net assets/fund balances | $3,781,723,351 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Gbu Financial Life Pittsburgh, PA | $3,781,723,351 | $647,407,741 |
National Slovak Society Of The Usa Mcmurray, PA | $1,648,444,321 | $343,047,984 |
Law Enforcement Health Benefits Inc Philadelphia, PA | $77,854,547 | $135,878,841 |
First Catholic Slovak Ladies Assoc Of The Usa Cleveland, OH | $1,116,473,671 | $118,651,885 |
First Catholic Slovak Union Of The United States & Canada Independence, OH | $530,937,088 | $112,312,488 |
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William Penn Association Pittsburgh, PA | $564,136,496 | $86,255,147 |
The Actors Fund Of America New York, NY | $147,965,954 | $61,544,838 |
Loyal Christian Benefit Association Erie, PA | $108,287,356 | $23,099,109 |
Ukrainian National Association Inc Parsippany, NJ | $178,950,671 | $21,937,849 |
Slovak Catholic Sokol Passaic, NJ | $108,716,912 | $20,620,124 |
United Transportation Union Insurance Association Independence, OH | $229,446,528 | $20,187,973 |