Catholic Life Insurance
- Assets
- $1.3b
- Revenue
- $152.8m
- Investments
- $29.3m
- Employees
- 80
- Location
- San Antonio, TX
- Founding
- 04/1969
- Data as of
- 12/2023
- EIN
- 74-0548665
Organization Overview
Catholic Life Insurance is located in San Antonio, TX. The organization was established in 1969. 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, Catholic Life Insurance employed 80 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes. Catholic Life Insurance 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, Catholic Life Insurance generated $152.8m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 3.3% each year. All expenses for the organization totaled $148.5m during the year ending 12/2023. While expenses have increased by 3.8% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
CATHOLIC LIFE INSURANCE IS A FRATERNAL BENEFIT SOCIETY THAT OFFERS LIFE INSURANCE AND RETIREMENT PRODUCTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CATHOLIC LIFE INSURANCE IS A FRATERNAL BENEFIT SOCIETY THAT OFFERS LIFE INSURANCE AND RETIREMENT PRODUCTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed President/ceo - Beg 12/01/23 | OfficerTrustee | 38.5 | $319,522 |
Name Not Listed President Emeritus - End 12/15/23 | OfficerTrustee | 38.5 | $1,012,292 |
Name Not Listed Director | Trustee | 4 | $18,200 |
Name Not Listed Director | Trustee | 4 | $21,500 |
Name Not Listed Director | Trustee | 4 | $22,050 |
Name Not Listed Director | Trustee | 4 | $25,274 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Eugene Smart Independent Agent | 12/30/23 | $588,962 |
Wellington Management Co Llp Investment Mgmt | 12/30/23 | $522,675 |
James E Tirres Independent Agent | 12/30/23 | $359,295 |
Sapiens Americas Corporation Consulting | 12/30/23 | $354,891 |
Automatic Elevator Inc Construction | 12/30/23 | $263,218 |
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 | $99,339,200 |
| Investment income | $54,702,564 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$728,815 |
| Net Gain/Loss on Asset Sales | -$984,799 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $152,779,246 |
| 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 | $144,396,888 |
| Compensation of current officers, directors, key employees. | $2,146,475 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,633,059 |
| Pension plan accruals and contributions | $276,022 |
| Other employee benefits | $900,978 |
| Payroll taxes | $388,128 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $22,459 |
| Fees for services: Accounting | $627,099 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $791,685 |
| Fees for services: Other | $175,433 |
| Advertising and promotion | $306,608 |
| Office expenses | $1,387,590 |
| Information technology | $161,292 |
| Royalties | $0 |
| Occupancy | $175,977 |
| Travel | $163,891 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $556,268 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $322,687 |
| Insurance | $150,558 |
| All other expenses | $469,975 |
| Total functional expenses | $148,546,277 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $11,269,084 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $13,284,353 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $5,787,550 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $5,369,444 |
| Investments—publicly traded securities | $1,200,082,475 |
| Investments—other securities | $29,285,793 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $33,108 |
| Total assets | $1,265,111,807 |
| Accounts payable and accrued expenses | $2,061,229 |
| 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 | $1,148,721,037 |
| Total liabilities | $1,150,782,266 |
| 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 | $114,329,541 |
| Total liabilities and net assets/fund balances | $1,265,111,807 |