First Catholic Slovak Union Of The United States & Canada
- Assets
- $530.9m
- Revenue
- $112.3m
- Investments
- $0.0
- Employees
- 28
- Location
- Independence, OH
- Founding
- 02/1941
- Data as of
- 12/2021
- EIN
- 34-0220550
Organization Overview
First Catholic Slovak Union Of The United States & Canada is located in Independence, OH. 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 12/2021, First Catholic Slovak Union Of The United States & Canada employed 28 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes. First Catholic Slovak Union Of The United States & Canada 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, First Catholic Slovak Union Of The United States & Canada generated $112.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 18.5% each year . All expenses for the organization totaled $109.8m during the year ending 12/2021. While expenses have increased by 18.6% 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
TO PROVIDE LIFE INSURANCE AND ANNUITIES AND OTHER FRATERNAL BENEFITS TO MEMBERS OF THIS FRATERNAL UNION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE LIFE INSURANCE AND ANNUITIES AND OTHER FRATERNAL BENEFITS TO MEMBERS OF THIS FRATERNAL UNION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Andrew M Rajec President | OfficerTrustee | 40 | $168,183 |
Kenneth A Arendt Executive Secretary | OfficerTrustee | 40 | $127,315 |
Gregory Maurer Chairman Of Auditors | Officer | 2 | $45,641 |
Gary J Matta General Counsel | Officer | 2 | $43,593 |
George F Matta Treasurer - Deceased | OfficerTrustee | 5 | $26,061 |
Kevin Collins Fraternal Director/vice-President | OfficerTrustee | 2 | $23,631 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Endepersis Actuary/insurance Consultant | 12/30/21 | $141,402 |
Pinpoint Computer Systems Technology/software | 12/30/21 | $123,524 |
Aqs Asset Management Asset Manager | 12/30/21 | $371,028 |
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 | $92,488,251 |
| Investment income | $19,569,570 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $251,997 |
| Net Gain/Loss on Asset Sales | -$142,041 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $112,312,488 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $61,600 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $21,894,615 |
| Compensation of current officers, directors, key employees. | $521,132 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $698,459 |
| Pension plan accruals and contributions | $1,200,000 |
| Other employee benefits | $265,686 |
| Payroll taxes | $90,859 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $9,201 |
| Fees for services: Accounting | $34,700 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $253,750 |
| Advertising and promotion | $59,253 |
| Office expenses | $261,857 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $137,922 |
| Travel | $40,304 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $304,847 |
| Interest | $545,658 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $123,524 |
| Insurance | $87,633 |
| All other expenses | $418,361 |
| Total functional expenses | $109,815,234 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,127,788 |
| Savings and temporary cash investments | $7,817,835 |
| 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 | $812,799 |
| Investments—publicly traded securities | $469,393,827 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $44,784,839 |
| Total assets | $530,937,088 |
| Accounts payable and accrued expenses | $1,113,500 |
| 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 | $483,165,981 |
| Total liabilities | $484,279,481 |
| 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 | $46,657,607 |
| Total liabilities and net assets/fund balances | $530,937,088 |
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 |
Gleaner Life Insurance Society Adrian, MI | $1,402,937,886 | $115,436,958 |
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 |
Isda Fraternal Association Pittsburgh, PA | $277,868,163 | $84,487,540 |
William Penn Association Pittsburgh, PA | $564,136,496 | $86,255,147 |
Everence Association Inc Goshen, IN | $407,395,698 | $69,175,767 |
Police And Firemens Insurance Association Carmel, IN | $255,522,812 | $49,657,782 |
Loyal Christian Benefit Association Erie, PA | $108,287,356 | $23,099,109 |
Womans Life Insurance Society Port Huron, MI | $202,469,549 | $20,989,003 |