Loyal Christian Benefit Association
- Assets
- $120.5m
- Revenue
- $22.9m
- Investments
- $0.0
- Employees
- 29
- Location
- Erie, PA
- Founding
- 01/1941
- Data as of
- 12/2023
- EIN
- 25-0606580
Organization Overview
Loyal Christian Benefit Association is located in Erie, PA. The organization was established in 1941. 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 12/2023, Loyal Christian Benefit Association employed 29 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes. Loyal Christian Benefit Association 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 12/2023, Loyal Christian Benefit Association generated $22.9m in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (1.6%) each year. All expenses for the organization totaled $23.9m during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (1.2%) per year over the past 9 years. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE LOYAL CHRISTIAN BENEFIT ASSOCIATION'S MISSION IS TO HELP CHRISTIAN FAMILIES SUCCESSFULLY TRANSITION THROUGH LIFE'S STAGES. THIS IS ACCOMPLISHED BY PROVIDING LIFE INSURANCE, ANNUITIES, MEDICARE SUPPLEMENT, & FRATERNAL BENEFITS TO MEMBERS AND SUPPORTING MEMBERS AND THEIR COMMUNITIES IN THE FORM OF DIRECT MEMBER BENEFITS AND SUPPORT OF LOCAL COMMUNITY SERVICE PROJECTS. DURING 2023, APPROXIMATELY 600 VOLUNTEERS CONTRIBUTED NEARLY 25,100 HOURS TO HELP THEIR COMMUNITIES AND THOSE IN NEED.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING LIFE INSURANCE, ANNUITIES, MEDICARE SUPPLEMENT, FRATERNAL ACTIVITIES AND OTHER BENEFITS TO THE 35,000+ MEMBERS OF THE ASSOCIATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Douglas Tuttle President/ceo | OfficerTrustee | 40 | $229,726 |
Rebecca Black Vp-Administration/secretary | Officer | 40 | $144,665 |
Alex Miller Vp-Operations | 40 | $133,546 | |
Brian Young Director Of Customer Experience | 40 | $131,185 | |
Matthew Barr Vp-Sales | 40 | $121,978 | |
Courtney Hagmaier Vp-Finance/treasurer | Officer | 40 | $127,038 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Parkway Advisors Lp Investment Management | 12/30/22 | $107,529 |
Allen Bailey & Associates Actuarial Services | 12/30/22 | $240,045 |
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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $22,882,689 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $22,882,689 |
| 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 | $10,738,052 |
| Compensation of current officers, directors, key employees. | $961,539 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,007,214 |
| Pension plan accruals and contributions | $53,192 |
| Other employee benefits | $255,016 |
| Payroll taxes | $162,414 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $14,226 |
| Fees for services: Accounting | $63,206 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $123,563 |
| Fees for services: Other | $514,666 |
| Advertising and promotion | $17,223 |
| Office expenses | $21,834 |
| Information technology | $318,715 |
| Royalties | $0 |
| Occupancy | $50,004 |
| Travel | $68,917 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $65,839 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $98,741 |
| Insurance | $112,946 |
| All other expenses | $187,269 |
| Total functional expenses | $23,938,126 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,164,112 |
| Savings and temporary cash investments | $633,268 |
| 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 | $889,057 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,449,077 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $112,731,623 |
| Intangible assets | $0 |
| Other assets | $2,680,993 |
| Total assets | $120,548,130 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $111,373,232 |
| Total liabilities | $111,373,232 |
| 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 | $9,174,898 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $120,548,130 |