Assured Life Association
- Assets
- $59.4m
- Revenue
- $10.8m
- Investments
- $3.0m
- Employees
- 7
- Location
- Centennial, CO
- Founding
- 08/1940
- Data as of
- 12/2022
- EIN
- 84-0356870
Organization Overview
Assured Life Association is located in Centennial, CO. 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 12/2022, Assured Life Association employed 7 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes. Assured Life Association 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, Assured Life Association generated $10.8m 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 (7.1%) each year. All expenses for the organization totaled $10.4m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (7.5%) per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
FRATERNAL ORGANIZATION
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDERS OF LIFE, ACCIDENT AND HEALTH INSURANCE TO MEMBERS OF A FRATERNAL ORGANIZATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tanya S Unrein Chair | OfficerTrustee | 1 | $14,918 |
Charles R Cloud Director | Trustee | 1 | $7,230 |
Lance C Foreman Director | Trustee | 1 | $7,230 |
Ernest T Giambra Director | Trustee | 1 | $7,230 |
Billy B Hill Jr Director | Trustee | 1 | $7,230 |
Douglas H Oury Director | Trustee | 1 | $9,180 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Additional Options Llc Construction | 12/30/17 | $262,853 |
Allen Bailey & Associates Inc Actuary | 12/30/17 | $124,603 |
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 | $7,715,113 |
| Investment income | $2,268,708 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $706,877 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,833,866 |
| 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 | $4,731,187 |
| Compensation of current officers, directors, key employees. | $700,607 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $173,362 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $37,831 |
| Payroll taxes | $44,331 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $29,831 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,685,679 |
| Advertising and promotion | $0 |
| Office expenses | $31,313 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $112,549 |
| Travel | $32,496 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $16,023 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $117,532 |
| Insurance | $22,129 |
| All other expenses | $6,038 |
| Total functional expenses | $10,393,488 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,149,016 |
| Savings and temporary cash investments | $9,567,247 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $142,531 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $28,039,539 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $295,474 |
| Investments—publicly traded securities | $16,209,963 |
| Investments—other securities | $3,010,997 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $59,414,767 |
| Accounts payable and accrued expenses | $435,252 |
| 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 | $45,717,062 |
| Total liabilities | $46,152,314 |
| 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 | $13,262,453 |
| Total liabilities and net assets/fund balances | $59,414,767 |