First Catholic Slovak Union Of The United States & Canada
- Assets
- $568.7m
- Revenue
- $79.9m
- Investments
- $0.0
- Employees
- 25
- Location
- Independence, OH
- Founding
- 02/1941
- Data as of
- 12/2022
- 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 12/2022, First Catholic Slovak Union Of The United States & Canada employed 25 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 12/2022, First Catholic Slovak Union Of The United States & Canada generated $79.9m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.4% each year . All expenses for the organization totaled $76.3m during the year ending 12/2022. While expenses have increased by 11.2% 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
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 | $172,440 |
Kenneth A Arendt Executive Secretary | OfficerTrustee | 40 | $130,550 |
John V Tokarsky Treasurer | OfficerTrustee | 5 | $59,532 |
Rev Thomas A Nasta Chaplain | OfficerTrustee | 2 | $16,999 |
Gregory Maurer Chairman Of Auditors | Officer | 2 | $46,782 |
Richard F Ungvarsky MD Medical Director | Officer | 2 | $16,999 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Endepersis Actuary/insurance Consultant | 12/30/22 | $117,673 |
Aqs Asset Management Asset Manager | 12/30/22 | $415,576 |
Pinpoint Computer Systems Technology/software | 12/30/22 | $127,124 |
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 | $54,622,568 |
| Investment income | $24,451,304 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $305,181 |
| Net Gain/Loss on Asset Sales | $450,111 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $79,856,772 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $92,500 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $34,787,582 |
| Compensation of current officers, directors, key employees. | $502,814 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $795,491 |
| Pension plan accruals and contributions | $1,224,080 |
| Other employee benefits | $249,603 |
| Payroll taxes | $90,859 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $556 |
| Fees for services: Accounting | $35,157 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $224,654 |
| Advertising and promotion | $49,517 |
| Office expenses | $251,223 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $148,539 |
| Travel | $112,682 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $38,579 |
| Interest | $519,876 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $156,388 |
| Insurance | $171,730 |
| All other expenses | $601,188 |
| Total functional expenses | $76,330,334 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,760,165 |
| Savings and temporary cash investments | $19,750,033 |
| 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 | $753,839 |
| Investments—publicly traded securities | $490,516,343 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $49,936,235 |
| Total assets | $568,716,615 |
| Accounts payable and accrued expenses | $145,954 |
| 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 | $520,196,115 |
| Total liabilities | $520,342,069 |
| 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 | $48,374,546 |
| Total liabilities and net assets/fund balances | $568,716,615 |