Modern Woodmen Of America
- Assets
- $17.1b
- Revenue
- $1.8b
- Investments
- $2.7m
- Employees
- 1,835
- Location
- Rock Island, IL
- Founding
- 05/1961
- Data as of
- 12/2022
- EIN
- 36-1493430
Organization Overview
Modern Woodmen Of America is located in Rock Island, IL. The organization was established in 1961. 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, Modern Woodmen Of America employed 1,835 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes. Modern Woodmen Of America 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, Modern Woodmen Of America generated $1.8b in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.6% each year. All expenses for the organization totaled $1.6b during the year ending 12/2022. While expenses have increased by 0.1% 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.
Since 2014, Modern Woodmen Of America has awarded 232 individual grants totaling $3,707,830. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO IMPROVE THE QUALITY OF LIFE FOR OUR MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LIFE INSURANCE PROGRAMS: MODERN WOODMEN OF AMERICA PROVIDES BENEFITS AND SERVICES COVERAGE FOR LIFE, ANNUITY, AND ACCIDENT & HEALTH INSURANCE (717,981 MEMBERS).
FRATERNAL BENEFITS (20,373 BENEFICIARIES).
YOUTH COMMUNITY SERVICE ACTIVITIES (3,457).
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Kenny Massey President And CEO | OfficerTrustee | 40 | $2,404,645 |
Jerald J Lyphout National Secretary And Executive Vice President | OfficerTrustee | 40 | $1,251,358 |
Lester L Bohnert General Counsel | OfficerTrustee | 40 | $661,611 |
Brett M Van Chief Investment Officer & Treasurer | OfficerTrustee | 40 | $848,455 |
Joseph A Sztapka Director & Regional Director | Trustee | 40 | $591,847 |
Lori Newberg Director | Trustee | 5 | $129,583 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Zinnia Product Management | 12/30/22 | $738,485 |
Imprint Events Colorado Llc Event Planning & Management | 12/30/22 | $699,771 |
The C2 Group Software Development & Project Mgmt | 12/30/22 | $565,280 |
Willis Towers Watson Us Llc Product Development | 12/30/22 | $491,681 |
Invesco Investment Management | 12/30/22 | $475,414 |
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 | $1,753,210,728 |
| 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 | $1,753,210,728 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $565,578 |
| Grants and other assistance to domestic individuals. | $518,461 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $1,393,865,485 |
| Compensation of current officers, directors, key employees. | $9,741,479 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $45,083,157 |
| Pension plan accruals and contributions | -$11,220,242 |
| Other employee benefits | $18,241,612 |
| Payroll taxes | $7,411,607 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $449,628 |
| Fees for services: Accounting | $370,660 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,102,688 |
| Fees for services: Other | $4,376,396 |
| Advertising and promotion | $1,589,304 |
| Office expenses | $5,224,850 |
| Information technology | $10,624,576 |
| Royalties | $0 |
| Occupancy | $5,881,640 |
| Travel | $621,769 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,061,746 |
| Interest | $16,221,798 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,881,699 |
| Insurance | $654,779 |
| All other expenses | $24,503,480 |
| Total functional expenses | $1,635,515,262 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,300,026 |
| Savings and temporary cash investments | $234,785,592 |
| 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 | $17,946,898 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $2,698,604 |
| Investments—program-related | $15,339,283,510 |
| Intangible assets | $0 |
| Other assets | $1,540,388,764 |
| Total assets | $17,138,403,394 |
| Accounts payable and accrued expenses | $22,166,406 |
| 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 | $722,027,107 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $13,978,173,905 |
| Total liabilities | $14,722,367,418 |
| 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 | $2,416,035,976 |
| Total liabilities and net assets/fund balances | $17,138,403,394 |
Grants Awarded
Over the last fiscal year, Modern Woodmen Of America has awarded $415,475 in support to 25 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICAN RED CROSS PURPOSE: GENERAL SUPPORT | $20,210 |
BIG BROTHERS BIG SISTERS PURPOSE: GENERAL SUPPORT | $10,540 |
BETHANY FOR CHILDREN & FAMILIES PURPOSE: COMMUNITY CELEBRATION SPONSORSHIP | $8,000 |
BOYS AND GIRLS CLUB OF MISSISSIPPI VALLEY PURPOSE: SPONSORSHIP | $8,000 |
CENTER FOR ACTIVE SENIORS INC PURPOSE: GENERAL SUPPORT | $5,070 |
CHILDREN'S THERAPY CENTER PURPOSE: CAPITAL CAMPAIGN PROJECT | $21,460 |