William Penn Association
- Assets
- $564.1m
- Revenue
- $86.3m
- Investments
- $0.0
- Employees
- 30
- Location
- Pittsburgh, PA
- Founding
- 05/1950
- Data as of
- 12/2021
- EIN
- 25-0856580
Organization Overview
William Penn Association is located in Pittsburgh, PA. The organization was established in 1950. 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, William Penn Association employed 30 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes. William Penn 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 12/2021, William Penn Association generated $86.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.5% each year. All expenses for the organization totaled $80.5m during the year ending 12/2021. While expenses have increased by 6.0% 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
TO PROVIDE LIFE INSURANCE, ANNUITIES AND OTHER FRATERNAL BENEFITS TO MEMBERS OF THE WILLIAM PENN ASSOCIATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LIFE INSURANCE, ANNUITIES, AND OTHER FRATERNAL BENEFITS (33,317 CERTIFICATES IN FORCE; $342,423,000 OF LIFE INSURANCE IN FORCE).
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
George S Charles Jr National President | OfficerTrustee | 40 | $202,106 |
Diane M Torma National Vp/treasurer | Officer | 40 | $143,795 |
Robert G Bisceglia National Sales Director | 40 | $141,603 | |
Steven F Charles National Vp/internal Opera | Officer | 40 | $123,614 |
Cassandra Holmes National Vp/secretary | Officer | 40 | $123,306 |
Katherine E Novak National Director/cob | Trustee | 10 | $25,251 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Bruce And Bruce Provide Actuarial And Consulting Service | 12/30/21 | $299,431 |
Noreen Fritz Insurance Sales Agent | 12/30/21 | $202,419 |
Mark Guilliatt Insurance Sales Agent | 12/30/21 | $140,196 |
Tucker Arensberg Pc Legal Services | 12/30/21 | $134,955 |
Financial Marketing Group Insurance Sales Agent | 12/30/21 | $115,581 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $425,500 |
| 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 | $425,500 |
| Total Program Service Revenue | $58,605,187 |
| Investment income | $27,206,308 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$9,995 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $86,255,147 |
| 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 | $35,023,725 |
| Compensation of current officers, directors, key employees. | $907,532 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $936,883 |
| Pension plan accruals and contributions | $381,068 |
| Other employee benefits | $295,898 |
| Payroll taxes | $134,686 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $121,063 |
| Fees for services: Accounting | $72,825 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $9,402 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $218,941 |
| Travel | $52,431 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,043 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $58,693 |
| Insurance | $54,008 |
| All other expenses | $760,274 |
| Total functional expenses | $80,476,376 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,753,796 |
| Savings and temporary cash investments | $1,141,581 |
| 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 | $833,341 |
| Investments—publicly traded securities | $551,624,694 |
| Investments—other securities | $0 |
| Investments—program-related | $1,979,603 |
| Intangible assets | $0 |
| Other assets | $6,803,481 |
| Total assets | $564,136,496 |
| Accounts payable and accrued expenses | $497,387 |
| 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 | $519,048,235 |
| Total liabilities | $519,545,622 |
| 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 | $44,590,874 |
| Total liabilities and net assets/fund balances | $564,136,496 |
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|---|---|---|
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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 |
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