Western Catholic Union
- Assets
- $196.1m
- Revenue
- $14.7m
- Investments
- $72.6k
- Employees
- 16
- Location
- Quincy, IL
- Founding
- 10/1940
- Data as of
- 12/2021
- EIN
- 37-0580740
Organization Overview
Western Catholic Union is located in Quincy, IL. The organization was established in 1940. 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, Western Catholic Union employed 16 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes. Western Catholic Union 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, Western Catholic Union generated $14.7m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (6.7%) each year. All expenses for the organization totaled $15.8m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (5.1%) per year over the past 7 years. 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
FRATERNAL BENEFIT SOCIETY OFFERING LIFE INSURANCE AND ANNUITY PLANS TO ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE WESTERN CATHOLIC UNION IS A FRATERNAL BENEFIT SOCIETY OFFERING LIFE INSURANCE AND ANNUITY PLANS TO ITS MEMBERS. PROGRAM SERVICES INCLUDE $25,559,171 FOR BENEFITS PAID TO MEMBERS FOR LIFE INSURANCE AND ANNUITY BENEFITS. THE REMAINING EXPENSES COVER OPERATIONAL EXPENSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kent Stegeman Treasurer & CFO | Officer | 40 | $117,723 |
Matthew Bainbridge Secretary | Officer | 40 | $77,166 |
Sherri Schaefer Chairwoman, Interim President | OfficerTrustee | 20 | $40,900 |
August Boessen Trustee | Trustee | 1 | $9,850 |
David Hutt Trustee | Trustee | 1 | $9,850 |
Philip Hildebrand Jr Trustee | Trustee | 1 | $9,850 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
United Systems And Software Inc Third Party Administration | 12/30/20 | $107,200 |
Allen Bailey & Associates Inc Actuarial | 12/30/20 | $419,462 |
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 | $6,097,604 |
| Investment income | $7,963,405 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $119,812 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $14,717,772 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $15,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $25,559,171 |
| Compensation of current officers, directors, key employees. | $336,063 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $485,395 |
| Pension plan accruals and contributions | $44,039 |
| Other employee benefits | $94,078 |
| Payroll taxes | $59,498 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $19,819 |
| Fees for services: Accounting | $91,853 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $539,792 |
| Fees for services: Other | $382,450 |
| Advertising and promotion | $0 |
| Office expenses | $82,104 |
| Information technology | $13,350 |
| Royalties | $0 |
| Occupancy | $24,000 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | -$13,739,924 |
| Total functional expenses | $15,829,227 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $968,839 |
| Savings and temporary cash investments | $1,644,438 |
| 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 | $11,885,511 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $735,619 |
| Investments—publicly traded securities | $178,120,868 |
| Investments—other securities | $72,559 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,711,745 |
| Total assets | $196,139,579 |
| Accounts payable and accrued expenses | $161,341 |
| Grants payable | $0 |
| Deferred revenue | $20,569 |
| 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 | $189,594,572 |
| Total liabilities | $189,776,482 |
| 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 | $6,363,097 |
| Total liabilities and net assets/fund balances | $196,139,579 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Western Catholic Union has recieved totaling $100.
| Awarding Organization | Amount |
|---|---|
Nuessen Family Foundation Quincy, IL PURPOSE: RELIGIOUS | $100 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Moose International Inc Mooseheart, IL | $248,875,927 | $60,547,515 |
Police And Firemens Insurance Association Carmel, IN | $255,522,812 | $49,657,782 |
Polish National Alliance Of The United States Of Na Chicago, IL | $443,323,344 | $41,988,128 |
National Mutual Benefit Madison, WI | $0 | $36,708,977 |
Catholic Holy Family Society Belleville, IL | $181,583,154 | $35,335,313 |
Csa Fraternal Life Lombard, IL | $138,191,807 | $24,229,439 |
Kone Inc Moline, IL | $0 | $17,815,569 |
National Catholic Society Of Foresters Schaumburg, IL | $168,779,448 | $18,624,381 |
Western Catholic Union Quincy, IL | $196,139,579 | $14,717,772 |
Ancient Accepted Scottish Rite Of Free Masonry Nmj Bloomingdale, IL | $75,070,914 | $2,909,772 |
Polish Womens Alliance of America Chicago, IL | $51,899,831 | $2,385,010 |
Ancient Accepted Scottish Rite Of Free Masonry Nmj Indianapolis, IN | $14,877,083 | $1,938,272 |