Woodmen Of The World Life Insurance Society, operating under the name Woodmenlife, is located in Omaha, NE. 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, Woodmenlife employed 973 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes. Woodmenlife 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, Woodmenlife generated $1.0b in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (3.0%) each year. All expenses for the organization totaled $999.3m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (2.1%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Woodmenlife has awarded 135 individual grants totaling $3,272,870. 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
UNITING HARDWORKING AMERICANS TO SECURE THEIR FINANCIAL FUTURE WHILE STRENGTHENING OUR COMMUNITIES AND COUNTRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WOODMENLIFE EXTRAS: WOODMENLIFE OFFERS A VARIETY OF EXCLUSIVE BENEFITS AND DISCOUNTS TO OUR MEMBERS AT NO EXTRA COST, JUST FOR DOING BUSINESS WITH US. SOME OF THE NON-CONTRACTUAL BENEFITS AVAILABLE TO ELIGIBLE WOODMENLIFE MEMBERS INCLUDE: FIRST RESPONDERS BENEFIT - WOODMENLIFE WILL PAY A 25,000 BENEFIT IF A GOOD-STANDING MEMBER IS KILLED WHILE PERFORMING HIS/HER DUTIES AS A NON- MILITARY FIRST RESPONDER. FIRST RESPONDERS MAY INCLUDE FIREFIGHTERS, EMTS AND PARAMEDICS, POLICE, OR A PERSON PERFORMING A SUPPORTING ROLE TO SUCH INDIVIDUALS. FAMILY LEGACY BENEFIT - WOODMENLIFE OFFERS 1,000 PER MONTH FOR THE CARE OF MEMBERS' CHILDREN IF THEY ARE ORPHANED. NATURAL DISASTER BENEFIT - QUALIFIED MEMBERS WHOSE HOMES ARE DAMAGED OR DESTROYED BY NATURAL DISASTERS, SUCH AS HURRICANES, TORNADOES, FLOODS, WILD/FOREST FIRES, OR EARTHQUAKES, MAY BE ELIGIBLE FOR UP TO 1,000 TO HELP WITH HOME REPAIR COSTS. LIFE'S PERKS - THIS EASY-TO-USE MEMBER DISCOUNT PROGRAM OFFERS SAVINGS ON BRAND-NAME ITEMS FROM MORE THAN 30,000 LOCAL AND NATIONAL RETAILERS. MEMBERS CAN SAVE MONEY ON EVERYDAY ITEMS LIKE CELL PHONES, RESTAURANTS AND WHOLESALE CLUB MEMBERSHIPS, AND ON MAJOR PURCHASES LIKE AUTOMOBILES, HOMES AND FURNITURE. WOODMENLIFE FOCUS FORWARD SCHOLARSHIP - THROUGH THE WOODMENLIFE FOCUS FORWARD SCHOLARSHIP, MORE THAN 4,000 SCHOLARSHIPS WORTH 2.7 MILLION HAVE BEEN AWARDED TO HIGH SCHOOL GRADUATES SINCE 2017. SCHOLARSHIPS MAY BE USED AT COLLEGES, UNIVERSITIES AND TRADE SCHOOLS, AND SCHOLARSHIP MONEY CAN BE USED FOR EDUCATION-RELATED EXPENSES, WHICH INCLUDE TUITION, FEES, BOOKS, SUPPLIES AND ROOM AND BOARD. STUDENT LOAN RELIEF - EVERY YEAR, WOODMENLIFE GIVES UP TO 200 1,000 AWARDS TO ELIGIBLE MEMBERS. RECIPIENTS ARE SELECTED BASED ON COMMUNITY SERVICE, PATRIOTISM AND LOAN STATEMENTS. LAWASSURETM -LAWASSURE GIVES WOODMENLIFE MEMBERS THE ABILITY TO CREATE CUSTOMIZED WILLS, POWERS OF ATTORNEY AND HEALTHCARE DIRECTIVES WITH FREE, EASY-TO-USE ONLINE TEMPLATES. GIVING TOGETHER - THE GIVING TOGETHER PROGRAM PROVIDES FUNDING FOR SALES REPRESENTATIVES TO ORGANIZE AND CONDUCT COMMUNITY BEAUTIFICATION PROJECTS, SUCH AS PAINTING AT YOUTH FOOTBALL FIELDS AND LANDSCAPING AT SCHOOLS AND COMMUNITY CENTERS. COMMUNITY IMPROVEMENT FUNDS - WOODMENLIFE ALLOCATES FUNDS TO LOCAL CHAPTERS AND COMMUNITIES THAT SUPPORT OUR SHARED COMMITMENT TO FAMILY, COMMUNITY AND COUNTRY. THESE FUNDS HELP MEMBERS PROVIDE FOR LOCAL NEEDS AND GIVE MEMBERS A VOICE IN DECIDING WHICH CAUSES MATTER MOST TO THEM. ANNUAL REGIONAL EVENTS - IN 2022, WOODMENLIFE INTRODUCED ANNUAL REGIONAL EVENTS (ARES) TO MEMBERS ACROSS THE COUNTRY. THESE EVENTS ARE DESIGNED TO HELP PEOPLE COLLABORATE, AS WELL AS TO EDUCATE, AND RECOGNIZE CHAPTERS AND MEMBERS FOR THEIR CONTRIBUTIONS TO THE COMMUNITY. THEY ARE ANOTHER WAY FOR WOODMENLIFE TO CULTIVATE RELATIONSHIPS AMONG THE WOODMENLIFE FAMILY. THERE WERE 32 ARES HELD IN 2022
PATRIOTIC PROGRAM: WOODMENLIFE'S PATRIOTIC PROGRAM WAS LAUNCHED MORE THAN 75 YEARS AGO IN SUPPORT OF THE ORGANIZATION'S COMMON BOND FOCUS ON OUR COUNTRY. SINCE 1947, THE ORGANIZATION HAS DONATED MORE THAN 3.5 MILLION FLAGS TO NONPROFIT ORGANIZATIONS, SCHOOLS AND COMMUNITIES. WOODMENLIFE IS THE SECOND LARGEST PURCHASER OF AMERICAN FLAGS BEHIND THE UNITED STATES GOVERNMENT. AS PART OF THE PATRIOTIC PROGRAM, CHAPTERS ARE ENCOURAGED TO PLAN AND PARTICIPATE IN FLAGS ACROSS AMERICA PROJECTS ON JUNE 14 AND IN HONOR AND REMEMBRANCE CEREMONIES ON SEPTEMBER 11. THEY ALSO PLAN COMMUNITY SERVICE PROJECTS FOR VETERANS DAY, MEMORIAL DAY AND INDEPENDENCE DAY. IN ADDITION, WOODMENLIFE HAS PARTNERED WITH THE GARY SINISE FOUNDATION TO FURTHER SUPPORT THEIR MISSION OF HONORING OUR DEFENDERS, VETERANS, FIRST RESPONDERS, THEIR FAMILIES, AND THOSE IN NEED.
FIGHTING HUNGER - WOODMENLIFE MADE FIGHTING HUNGER ITS NATIONAL COMMUNITY FOCUS IN 2015. THIS FOCUS UNITES MEMBERS OF THE WOODMENLIFE FAMILY, AS WELL AS OUR SALES REPRESENTATIVES AND HOME OFFICE ASSOCIATES. HUNGER-FIGHTING EFFORTS INCLUDE COMMUNITY FOOD DRIVES, BACKPACK STUFFING EVENTS, SORTING DONATIONS AT LOCAL FOOD BANKS, SERVING MEALS AT COMMUNITY KITCHENS, AND HOLDING COOKING FUNDRAISERS. WOODMENLIFE ALSO SUPPORTS THIS EFFORT THROUGH ITS CORPORATE GIVING. SINCE 2015, WOODMENLIFE AND ITS MEMBERS HAVE COLLECTED NEARLY 1.2 MILLION POUNDS OF FOOD AND DONATED NEARLY 3.4 MILLION DOLLARS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Name Not Listed President & | OfficerTrustee | 50 | $1,414,047 |
Name Not Listed Exec Vp, Sec | OfficerTrustee | 50 | $881,568 |
Name Not Listed Exec Vp, CFO | OfficerTrustee | 50 | $642,449 |
Name Not Listed Exec VP Chie | OfficerTrustee | 50 | $659,039 |
Name Not Listed Sr Vp, Nat S | Officer | 50 | $605,463 |
Name Not Listed Regional Dir | 50 | $481,061 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Lidp Consulting Services Inc Sftwr Develop. | 12/30/22 | $4,238,179 |
Shi International Corp Software | 12/30/22 | $3,657,854 |
Sirius Computer Solutions Inc Hardware/maint. | 12/30/22 | $3,185,628 |
Basis Global Technologies Inc Advertising Svs | 12/30/22 | $2,750,472 |
Microsoft Corporation Software | 12/30/22 | $1,709,607 |
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 | $651,810,047 |
Investment income | $347,027,124 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $3,033,374 |
Net Gain/Loss on Asset Sales | $2,579,389 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $1,005,480,725 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $713,577 |
Grants and other assistance to domestic individuals. | $239,494 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $810,594,634 |
Compensation of current officers, directors, key employees. | $12,098,697 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $50,531,791 |
Pension plan accruals and contributions | -$13,349,263 |
Other employee benefits | $13,175,751 |
Payroll taxes | $7,065,631 |
Fees for services: Management | $0 |
Fees for services: Legal | $1,043,382 |
Fees for services: Accounting | $429,966 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $210,917 |
Advertising and promotion | $4,494,899 |
Office expenses | $3,623,592 |
Information technology | $19,001,775 |
Royalties | $0 |
Occupancy | $3,583,421 |
Travel | $210,961 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $636,796 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $3,936,831 |
Insurance | $555,177 |
All other expenses | $15,185,871 |
Total functional expenses | $999,313,713 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | -$2,528,141 |
Savings and temporary cash investments | $41,464,335 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $245,750 |
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 | $69,157,339 |
Investments—publicly traded securities | $7,704,925,061 |
Investments—other securities | $2,486,793,311 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $759,743,261 |
Total assets | $11,059,800,916 |
Accounts payable and accrued expenses | $52,087,219 |
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 | $9,332,868,124 |
Total liabilities | $9,384,955,343 |
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 | $1,674,845,573 |
Total liabilities and net assets/fund balances | $11,059,800,916 |
Over the last fiscal year, Woodmen Of The World Life Insurance Society has awarded $563,026 in support to 23 organizations.
Grant Recipient | Amount |
---|---|
AIM INSTITUTE-CAREERLINKCOM PURPOSE: GENERAL SUPPORT | $9,000 |
AMERICAN HEART ASSOCIATION PURPOSE: GENERAL SUPPORT | $30,660 |
BUSINESS ETHICS ALLIANCE PURPOSE: GENERAL SUPPORT | $10,000 |
CRESCENT FOOD PANTRY PURPOSE: GENERAL SUPPORT | $8,325 |
FIRST RESPONDERS FOUNDATION PURPOSE: GENERAL SUPPORT | $22,675 |
BOYS AND GIRLS CLUB OF AMERICA PURPOSE: GENERAL SUPPORT | $10,000 |