Sons Of Norway is located in Minneapolis, MN. 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 12/2023, Sons Of Norway employed 42 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes. Sons Of Norway 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 12/2023, Sons Of Norway generated $25.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (5.1%) each year. All expenses for the organization totaled $29.5m during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (2.7%) per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
SONS OF NORWAY OPERATES THROUGH ITS LODGE SYSTEM TO PROMOTE, PRESERVE, AND CHERISH A LASTING APPRECIATION AND UNDERSTANDING OF THE HERITAGE, LANGUAGE, HISTORY, AND CULTURE OF (CONTINUED ON SCHEDULE O)
Describe the Organization's Program Activity:
Part 3 - Line 4a
LIFE, ANNUITY, AND HEALTH INSURANCE PRODUCTS FOR MEMBERS
FRATERNAL ACTIVITIES AND BENEFITS
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Chris Pinkerton Dir Of Sales | Officer | 40 | $219,514 |
Dan Seyfried It Director | Officer | 40 | $229,085 |
Erica Oberg Chief Financial Officer | Officer | 40 | $145,513 |
Connie O'brien Director Mktg And Comm | Officer | 40 | $166,375 |
Lizabeth Halva Dir Of Admin, Hr And Ins Oper | Officer | 40 | $121,583 |
Zach Kindt Life Ins And Annuity Prod Mgr | 40 | $120,792 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Griffith Ballard Acturial Services | 12/30/23 | $213,617 |
Greenspring Media Publishing | 12/30/23 | $129,616 |
Rsm Us Llp Audit Services | 12/30/23 | $122,850 |
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 | $19,520,925 |
Investment income | $7,853,741 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $21,933 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | -$453,926 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | -$146 |
Miscellaneous Revenue | $0 |
Total Revenue | $25,258,094 |
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 | $21,725,350 |
Compensation of current officers, directors, key employees. | $2,364,557 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $688,044 |
Pension plan accruals and contributions | $35,862 |
Other employee benefits | $104,741 |
Payroll taxes | $245,833 |
Fees for services: Management | $0 |
Fees for services: Legal | $40,037 |
Fees for services: Accounting | $84,373 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $191,962 |
Fees for services: Other | $320,367 |
Advertising and promotion | $225 |
Office expenses | $371,030 |
Information technology | $501,967 |
Royalties | $0 |
Occupancy | $607,702 |
Travel | $28,435 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $2,307 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $106,558 |
Insurance | $82,609 |
All other expenses | -$759,727 |
Total functional expenses | $29,537,206 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $2,904,993 |
Savings and temporary cash investments | $165,276 |
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 | $16,338,341 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $0 |
Net Land, buildings, and equipment | $0 |
Investments—publicly traded securities | $186,939,430 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $9,833,861 |
Total assets | $216,181,901 |
Accounts payable and accrued expenses | $923,042 |
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 | $203,980,422 |
Total liabilities | $204,903,464 |
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 | $11,278,437 |
Total liabilities and net assets/fund balances | $216,181,901 |