Gbu Financial Life
- Assets
- $4.2b
- Revenue
- $767.4m
- Investments
- $0.0
- Employees
- 102
- Location
- Pittsburgh, PA
- Founding
- 11/1940
- Data as of
- 12/2022
- 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 12/2022, Gbu Financial Life employed 102 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 12/2022, Gbu Financial Life generated $767.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.7% each year . All expenses for the organization totaled $735.1m during the year ending 12/2022. While expenses have increased by 12.3% 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
2022
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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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William W Hunt Chief Executive Officer | OfficerTrustee | 40 | $625,491 |
Lesley Mann Chief Marketing Officer | Officer | 40 | $426,759 |
Timothy King SVP - Investments | Officer | 40 | $384,693 |
Mark Cloutier Chief Financial Officer | Officer | 40 | $301,756 |
Deborah L Morgan Vice President Of Operations | Officer | 40 | $222,825 |
Douglas A Ulrich Controller | Officer | 40 | $215,845 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ipipeline Inc Professional Service | 12/30/22 | $998,206 |
Highmark Blue Shield Health Insurance | 12/30/22 | $882,485 |
Miller Newberg Inc Actuary | 12/30/22 | $826,922 |
Macbracey Corporation Construction | 12/30/22 | $631,401 |
Hoffmann Murtaugh Marketing | 12/30/22 | $658,569 |
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 | $10,100 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,100 |
| Total Program Service Revenue | $585,820,367 |
| Investment income | $181,716,503 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $19,159 |
| Net Gain/Loss on Asset Sales | -$202,749 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $767,394,993 |
| 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 | $699,948,293 |
| Compensation of current officers, directors, key employees. | $2,641,803 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,303,992 |
| Pension plan accruals and contributions | $941,581 |
| Other employee benefits | $811,900 |
| Payroll taxes | $440,398 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $227,482 |
| Fees for services: Accounting | $385,445 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,224,146 |
| Fees for services: Other | $859,838 |
| Advertising and promotion | $312,927 |
| Office expenses | $852,023 |
| Information technology | $261,462 |
| Royalties | $0 |
| Occupancy | $124,652 |
| Travel | $371,593 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $134,529 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $990,319 |
| Insurance | $97,879 |
| All other expenses | $0 |
| Total functional expenses | $735,103,377 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,132,837 |
| Savings and temporary cash investments | $39,351,392 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $30,811 |
| 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 | $2,436,583 |
| Investments—publicly traded securities | $3,977,462,285 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $182,353,846 |
| Total assets | $4,204,767,754 |
| Accounts payable and accrued expenses | $1,239,031 |
| Grants payable | $0 |
| Deferred revenue | $114,590 |
| 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 | $3,914,649,309 |
| Total liabilities | $3,916,002,930 |
| 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 | $288,764,824 |
| Total liabilities and net assets/fund balances | $4,204,767,754 |