National Slovak Society Of The Usa
- Assets
- $1.8b
- Revenue
- $303.5m
- Investments
- $0.0
- Employees
- 27
- Location
- Canonsburg, PA
- Founding
- 08/1941
- Data as of
- 12/2022
- EIN
- 25-0687190
Organization Overview
National Slovak Society Of The Usa, operating under the name Nss Life, is located in Canonsburg, 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 12/2022, Nss Life employed 27 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes. Nss 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, Nss Life generated $303.5m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.7% each year. All expenses for the organization totaled $285.5m during the year ending 12/2022. While expenses have increased by 5.5% per year over the past 8 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
TO PROVIDE OUR FRATERNAL FAMILY MEMBERS' FINANCIAL SECURITY VIA LIFE INSURANCE AND ANNUITY PRODUCTS, WHILE OFFERING CHARITABLE, CULTURAL, SOCIAL, AND EDUCATIONAL OPPORTUNITIES THAT BENEFIT THEM AND THEIR COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PURPOSE OF THE SOCIETY SHALL BE TO OPERATE FOR THE BENEFIT OF ITS MEMBERS AND THEIR BENEFICIARIES BY PROVIDING CONTRACTUAL BENEFITS TO ITS MEMBERS THROUGH LIFE AND ANNUITY PRODUCTS AND OPERATING FOR ONE OR MORE SOCIAL, INTELLECTUAL, EDUCATIONAL, CHARITABLE, BENEVOLANT, FRATERNAL, OR PATRIOTIC PURPOSES FOR THE BENEFIT OF ITS MEMBERS, WHICH MAY ALSO BE EXTENDED TO OTHERS ACQUAINTED WITH ITS MEMBERS. LIFE INSURANCE ACTIVITIES AND BENEFITS (25,487 CERTIFICATES IN FORCE: $652,496,023 AMOUNT OF INSURANCE IN FORCE).
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Czarney Board Member | Trustee | 2 | $40,250 |
Andrea Garbon Board Member | Trustee | 2 | $30,000 |
Robert Katricak Chairman Of The Board | Trustee | 2 | $74,122 |
Susan Ondrejco Board Member | Trustee | 5 | $39,796 |
Andrew Wesnak Board Member | Trustee | 2 | $28,550 |
John G Payerchin Board Member (thru 3/31/22) | Trustee | 2 | $11,075 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Equisoft It Services | 12/30/22 | $3,548,272 |
Solutions 3000 Llc Scientific & Technical Services | 12/30/22 | $1,031,272 |
Aqs Asset Management Asset Manager | 12/30/22 | $766,000 |
Vantage Point Preneed Sales Commissions | 12/30/22 | $714,926 |
Scott Wyatt Sales Commissions | 12/30/22 | $574,928 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $410,245 |
| 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 | $410,245 |
| Total Program Service Revenue | $219,226,285 |
| Investment income | $83,020,867 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $838,114 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $303,495,511 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $74,725 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $169,242,885 |
| Compensation of current officers, directors, key employees. | $1,018,133 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,832,510 |
| Pension plan accruals and contributions | $274,982 |
| Other employee benefits | $508,978 |
| Payroll taxes | $169,673 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $137,098 |
| Fees for services: Accounting | $305,752 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,046,500 |
| Fees for services: Other | $0 |
| Advertising and promotion | $301,357 |
| Office expenses | $452,892 |
| Information technology | $1,770,867 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $81,166 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $450,861 |
| Interest | $12,599 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $21,355 |
| Insurance | $30,024 |
| All other expenses | $409,119 |
| Total functional expenses | $285,526,458 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,619,248 |
| Savings and temporary cash investments | $56,692,971 |
| 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 | $595,544 |
| Investments—publicly traded securities | $1,558,928,876 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $142,182,634 |
| Total assets | $1,762,019,273 |
| Accounts payable and accrued expenses | $2,365,000 |
| 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 | $1,667,759,982 |
| Total liabilities | $1,670,124,982 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $1,762,019,273 |