2023-08-22T08:25:04-07:00 2022-12-31 990 2022-01-01 410182070 CATHOLIC UNITED FINANCIAL CATH 6514900170 3499 Lexington Ave N Arden Hills MN 55126 Paul Zastrow VP Secretary/Treasurer 6517654124 2023-06-14 1 1 11 1 AAL2 2022 2023-04-26 12:10:37Z Paul Zastrow 3499 Lexington Ave N Arden Hills MN 55126 72257491 0 0263 X www.catholicunited.org X 1878 MN To provide our members with life insurance, annuities and other products that contribute to their financial well-being and support the Roman Catholic Church in extending the faith. 9 7 106 2170 0 0 0 0 44030093 33341378 14944488 38454180 5298444 54821 64273025 71850379 605047 565554 61451830 50714977 7345517 8268362 0 0 0 -5588231 18999017 63814163 78547910 458862 -6697531 1060682360 1055250995 1024153581 1025448009 36528779 29802986 Catholic United Financial exists as a not-for-profit fraternal benefit society to: Promote fraternalism and charity among its members through a Local Council system and a representative form of goverment. Provide its members with life insurance, annuities and other products, services and benefits that will contribute to the financial well-being of our members and their families. Support the Roman Catholic Church in extending the faith, especially by commending and encouraging Catholic schools and religious education. Strive to be a good employer and contributing member of our community. 0 0 50888577 Benefits totaling $50,888,577 were paid to our members in accordance with our mission to provide life insurance, annuities and other products, services and benefits that contribute to the financial well-being of our members and their families. $10,738,850 was paid in death claims, $39,983,127 was paid for annuity, supplementary contract and other policy benefits, and $166,600 was paid for post-high school scholarships. 284268 In accordance with our mission to promote fraternalism and charity among our members through a local council system and representative governance, $284,268 was provided to our Councils and communities. Of this amount, $149,729 was spent on Local Councils, $69,170 on matching grants, $4,328 was spent to conduct Regional Member Gatherings, $14,750 on miscellaneous donations, and $46,291 was spent on Member Recognition programs and conducting Gather4Good events. Gather4Good is a volunteer, family oriented service project started in 2010 to assemble personal care kits for people in the local community experiencing homelessness. 460025 In accordance with our mission to support the Roman Catholic Church in extending the faith, commending and encouraging Catholic schools and religious education, Fraternal benefits totaling $467,525 were spent during the year. Of this total, $112,014 was provided to Catholic Dioceses and parishes, $7,500 was granted to organizations supportive of extending Catholic teachings, $217,074 was spent as operating support for our Foundation, and $130,937 was spent supporting Catholic education, including the Annual Catholic Schools Raffle. This Raffle has raised almost $12 million for over 100 Catholic schools since its inception thirteen years ago. 0 0 0 51632870 0 0 0 0 0 0 0 0 1 1 1 0 0 1 0 1 0 0 0 1 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 1 45 0 1 106 1 0 0 0 0 0 0 0 0 X 9 7 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 1 1 X Catholic United Financial 6514900170 3499 Lexington Ave N Arden Hills MN 551268017 Michael Ahles President/Chairman 37.5 X X 393578 0 33268 Paul Zastrow Sr. VP, Secretary/Treasurer 37.5 X X 336942 0 33266 John Tetzloff Director of Sales 37.5 X 208889 0 27983 Gregory Gall Central Regional Director 37.5 X 164581 0 32999 Dean Demarais Member Advisor Team Lead 37.5 X 176713 0 14544 Jack Kerbeshian Director of Product Management 37.5 X 163564 0 1460 Butch Byers Southwest Regional Director 37.5 X 156685 0 1117 Robert F Krattenmaker Board Member 3 X 18375 0 0 Renee Brod Board Member 3 X 17250 0 0 James Wensel Board Member 3 X 17250 0 0 Martin Seifert Board Member 3 X 17250 0 0 Jean Hart Board Member 3 X 17250 0 0 James Gibbons Board Member 3 X 17250 0 0 William Lucas Board Member 3 X 17250 0 0 1722827 0 144637 24 0 1 0 Securian Asset Management 401 Robert Street N Saint Paul MN 55101 Investment Advisory 402491 Miller & Newberg 8717 W 110th St Suite 530 Overland Park KS 66210 Actuarial and Consulting Services 334964 BONSAI LLC 2116 Pearl Street Suite C Boulder CO 80302 Consulting Services 505855 Kelly Bretz LLC 980 Kohlman Maplewood MN 55109 Enterprise Risk Management Consulting Services 258153 Nordick Consulting 502 Foxtail Drive West Fargo ND 58078 IT Consulting 294849 13 0 Premium Income 900099 32688495 32688495 0 0 652883 652883 0 0 33341378 41731762 0 0 41731762 0 0 0 0 0 0 0 0 461933 0 407112 0 54821 0 54821 0 0 54821 -3277582 0 0 0 -3277582 0 -3277582 0 0 -3277582 0 0 0 0 0 71850379 33341378 0 38509001 354504 211050 0 50714977 918928 0 5213058 875555 722000 538821 0 109342 534242 0 0 740957 1525822 331531 546313 765604 0 349491 110527 0 54885 0 0 232988 126646 Sales Expenses 2534133 Operational Expenses 228467 Interest Income Pai10808d to Reinsurer 10808069 0 78547910 0 0 0 3918030 5918335 20396358 1344367 0 0 4877 2926 0 0 0 0 4525409 4958502 3453564 4119801 0 0 8783923 7465410 1369498 1318513 921702111 937674850 96202581 90264118 0 0 0 0 9109932 9649583 1060682360 1055250995 1561402 1485715 1022592179 1023962294 1024153581 1025448009 X 0 0 0 0 36528779 29802986 36528779 29802986 1060682360 1055250995 X -6697531 0 0 0 0 -28262 X 0 1 1 0 3035205 180805 -85737 0 119283 0 3010990 2978986 229307 -32667 0 140421 0 3035205 2796299 298399 -91505 23871 0 336 2978986 2737061 241603 -149233 28031 5000 101 2796299 2623740 193782 7901 70750 14449 3163 2737061 0 0.79 0.21 0 0 0 0 0 7047400 0 5793986 1253414 0 0 0 0 1736523 0 1671424 65099 0 0 0 0 1318513 Mortgage Loans 90264118 C 90264118 Life and Annuity Reserves 1023962294 1023962294 73448349 0 0 0 -1052684 -1052684 74501033 -3277582 626928 -2650654 71850379 76780406 0 0 0 0 0 76780406 0 1767504 1767504 78547910 Schedule D, Part V, Line 4 Schedule D, Part V, Line 4 - Accumulate earnings on corpus endowed funds and distribute as grants to further the charitable mission of the organization. Schedule D, Part XI, Line 2d Schedule D, Part XI, Line 2d - Investment Expense Schedule D, Part XI, Line 4b Depreciation $76,513; Rent Expense $407,112; Gain on Sale of Mutual Funds ($60,661); LLC Income $776,928; Investment Income Paid to Reinsurer $11,428,307. Schedule D, Part XII, Line 4b Investment Expenses $1,052,684, Dividends to members $95,829, LLC Expenses $618,991. Central America and the Caribbean Investments The investment portfolio is held in US Dollars. It has investments from entities headquartered in other countries. The breakdown by portfolio percentage is US (87%), Canada (3%), AU (2%), GB (2%), KY (1%), NL (1%), IE (1%), Other (3%). 13937970 Europe (including Iceland and Greenland) Investments The investment portfolio is held in US Dollars. It has investments from entities headquartered in other countries. The breakdown by portfolio percentage is US (87%), Canada (3%), AU (2%), GB (2%), KY (1%), NL (1%), IE (1%), Other (3%). 34907845 North America (including Canada and Mexico, but not the United States) Investments The investment portfolio is held in US Dollars. It has investments from entities headquartered in other countries. The breakdown by portfolio percentage is US (87%), Canada (3%), AU (2%), GB (2%), KY (1%), NL (1%), IE (1%), Other (3%). 21445094 East Asia and the Pacific Investments The investment portfolio is held in US Dollars. It has investments from entities headquartered in other countries. The breakdown by portfolio percentage is US (87%), Canada (3%), AU (2%), GB (2%), KY (1%), NL (1%), IE (1%), Other (3%). 19057836 0 0 89348745 0 0 0 0 0 0 1 St Henry's Church 234 2nd Ave SW Perham MN 56573 410705859 501(C)(3) 15000 0 Catholic education National Association of Fraternal Insurance Counselors Inc PO Box 608 Buffalo MN 55313 391640907 501(C)(3) 10000 0 Catholic education 2 0 Member Assistance Grants 7 7000 Schedule I, Part I, Line 2 All grants are evaluated and decisioned by the Corporate Contributions Committee under the direction of the President and CEO. The Board of Directors monitors all grant activity and specifically reviews and approves any grant over $25,000. X 1 1 X X X X X 0 0 0 Michael Ahles President/Chairman 390000 0 0 0 14262 0 0 0 0 0 404262 0 0 0 Paul Zastrow Sr. VP, Secretary/Treasurer 333625 0 0 0 13439 0 0 0 0 0 347064 0 0 0 John Tetzloff Director of Sales 203540 0 12500 0 3383 0 0 0 0 0 219423 0 0 0 Dean Demarais Member Advisor Team Lead 177406 0 3800 0 1344 0 0 0 0 0 182550 0 0 0 Gregory Gall Central Regional Director 161585 0 10800 0 2751 0 0 0 0 0 175136 0 0 0 Jack Kerbeshian Director of Product Management 162796 0 0 0 768 0 0 0 0 0 163564 0 0 0 Butch Byers Southwest Regional Director 144444 0 10450 0 1791 0 0 0 0 0 156685 0 0 0 Schedule J, Part I, Line 1a Spouses of the officers are allowed to travel as part of Catholic United Financials' top sales producer conference. Schedule J, Part I, Line 3 Our officer's salaries are reviewed annually by the Board of Directors Compensation Committee and we use industry salary comparisons supplied by the Employer's Association. Form 990, Part VI, Section A, Line 6 Catholic United Financial is a not-for-profit Fraternal Life Insurance Company that is owned by its members under IRS Section 501 (c) (8). Fraternal Benefit Society. Form 990, Part VI, Section A, Line 7a Delegates of the membership elect board members. Form 990, Part VI, Section A, Line 7b Per our Constitution, certain fundamental decisions must be approved by the membership. These would include organizational changes, name changes, etc. Form 990, Part VI, Section B, Line 11b Catholic United Financial has a process it follows for reviewing the Form 990. It starts with a review of the Governance Checklist, followed by an analysis of the Form 990 draft by the Senior VP/Secretary Treasurer. Once the draft is approved by management, it is posted to the Board of Directors secure website for their review. The Board reviews the Form 990 at a Board meeting prior to its filing. Form 990, Part VI, Section B, Line 12c The Conflict of Interest Policy is reviewed annually or as needed throughout the year. Form 990, Part VI, Section B, Line 15 President and Secretary/Treasurer position salaries are reviewed annually by the Board of Directors Compensation Committee. Form 990, Part VI, Section C, Line 19 The organization makes our governing documents available via printed Constitution Bylaws. The financial statement is filed with the State of Minnesota and made available to the public. The Conflict of Interest Policy is available by request only. Form 990, Part XI, Line 9 Change in Non-admitted assets, change in asset Valuation Reserve, Change in Net Unrealized Capital Gains, and Change in Ceding Commissions from Annuity Reinsurer. Catholic United Financial General Agency LLC 3499 Lexington Ave N Saint Paul MN 55126 411906554 Established to sell nonproprietary long term care products to our members. MN 307938 157938 Catholic United Financial Catholic United Financial Foundation 3499 Lexington Ave N Saint Paul MN 55126 411893463 Charitable foundation assisting members with their charitable giving. MN 501(c)(3) Public Charity N/A 0 Conventus Now LLC 1100 W Wells St Milwaukee WI 53233 842447914 Technology Solutions DE N/A C -1350913 1327066 0.5 1 0 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 0 0 Catholic United Financial Foundation b 54926 Actual Expenses Incurred Catholic United Financial Foundation o 162148 Cash Conventus Now LLC b 875000 Cash Conventus Now LLC q 77834 Actual Expenses Incurred. Extension was filed.