2024-10-09T23:24:09-07:00 2023-12-31 990 2023-01-01 410182070 CATHOLIC UNITED FINANCIAL CATH 6514900170 3499 Lexington Ave N Arden Hills MN 55126 Paul Zastrow VP Secretary/Treasurer 6517654124 2024-06-28 1 2023 2024-10-15 13:58:12Z Paul Zastrow 3499 Lexington Ave N Arden Hills MN 55126 73909280 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 7 101 780 0 0 0 0 33341378 30829236 38454180 38618445 54821 4054487 71850379 73502168 565554 458186 50714977 48123123 8268362 8040188 0 0 0 18999017 16924333 78547910 73545830 -6697531 -43662 1055250995 999429811 1025448009 974988442 29802986 24441369 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 47790549 Benefits totaling $47,790,549 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. $10,161,783 was paid in death claims, $37,540,166 was paid for annuity, supplementary contract and other policy benefits, and $88,600 was paid for post-high school scholarships. 280445 In accordance with our mission to promote fraternalism and charity among our members through a local council system and representative governance, $280,445 was provided to our Councils and communities. Of this amount, $133,931 was spent on Local Councils, $75,970 on matching grants, $7,764 was spent to conduct Regional Member Gatherings, $6,622 on miscellaneous donations, and $56,158 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. 510315 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 $510,315 were spent during the year. Of this total, $87,855 was provided to Catholic Dioceses and parishes, $274,620 was spent as operating support for our Foundation, and $147,840 was spent supporting Catholic education, including the Annual Catholic Schools Raffle. This Raffle has raised over $12 million for over 100 Catholic schools since its inception thirteen years ago. 0 0 0 48581309 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 52 0 1 101 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 386990 0 40066 Paul Zastrow Sr. VP, Secretary/Treasurer 37.5 X X 334969 0 37451 John Tetzloff Director of Sales 37.5 X 213043 0 30413 John Kolodziejczyk Directorof Information Systems 37.5 X 159130 0 31720 Butch Byers Southwest Regional Director 37.5 X 175149 0 1403 Gregory Gall Central Regional Director 37.5 X 151907 0 16736 Jack Kerbeshian Director of Product 37.5 X 161769 0 1529 Renee Brod Board Member 3 X 23550 0 0 James Wensel Board Member 3.0 X 23250 0 0 Martin Seifert Board Member 3.0 X 21250 0 0 Jean Hart Board Member 3.0 X 19250 0 0 Robert F Krattenmaker Board Member 3 X 18850 0 0 James Gibbons Board Member 3.0 X 18850 0 0 William Lucas Board Member 3.0 X 18850 0 0 1726807 0 159318 22 0 1 0 Securian Asset Management 401 Robert Street N Saint Paul MN 55101 Investment Advisory 381638 BONSAI LLC 2116 Pearl Street Suite C Boulder CO 80302 Consulting Services 300000 Miller & Newberg 8717 W 110th St Suite 530 Overland Park KS 66210 Actuarial and Consulting Services 281473 BK Group LL 3443 44th Ave S Fargo ND 581046674 IT Consulting 205790 Nordick Consulting 502 Foxtail Drive West Fargo ND 58078 IT Consulting 102807 5 0 0 0 0 0 0 0 0 Premium Income 900099 30829236 30829236 0 0 0 0 0 0 30829236 38099542 0 0 38099542 0 0 0 0 0 0 0 0 498070 0 407112 0 90958 0 90958 0 0 90958 518903 0 0 0 518903 0 518903 0 0 518903 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 3963529 3963529 0 0 3963529 73502168 34792765 0 38709403 332586 332586 125600 125600 0 0 48123123 48123123 921726 921726 0 0 5139907 5139907 525489 525489 931771 931771 521295 521295 0 0 117990 117990 446503 446503 0 0 721701 721701 244355 244355 206930 206930 106387 106387 536733 536733 0 0 303607 303607 137951 137951 0 0 59953 59953 0 0 0 0 166567 166567 118225 118225 Sales Expenses 3080838 0 3080838 0 Operational Expenses 270096 0 270096 0 Interest Inc Paid to Reinsurer 10406497 0 10406497 0 0 73545830 48581309 24964521 0 5918335 6660970 1344367 8758300 0 0 2926 2438 0 0 0 0 4958502 4382499 4119801 3747304 0 0 8598450 6507489 1318513 2090961 937674850 881112423 90264118 83685183 0 0 0 0 9649583 8989733 1055250995 999429811 1485715 1824319 0 0 0 0 0 0 0 1023962294 973164123 1025448009 974988442 X 0 0 0 0 29802986 24441369 29802986 24441369 1055250995 999429811 X -43662 -116442 0 0 0 -5201513 X 0 1 X 1 0 3004462 239970 232823 123724 0 142 3353389 3035205 160001 -85846 104760 0 138 3004462 2978986 229307 -32667 0 140421 0 3035205 2796299 298399 -91505 23871 0 336 2978986 2737061 241603 -149233 28031 5000 101 2796299 0 0.7 0.3 0 0 0 0 0 7523384 0 5851663 1671721 0 0 0 0 1075066 0 655826 419240 0 0 0 0 2090961 Mortgage Loans 83685183 C 83685183 0 Life and Annuity Reserves 973164123 973164123 71620644 0 0 0 -518903 -518903 72139547 0 1362621 1362621 73502168 72584256 0 0 0 0 0 72584256 0 961574 961574 73545830 Schedule D, Part V, Line 4 Accumulated earnings on corpus endowed funds and distribute as grants to further the charitable missions of the organization. Schedule D, Part XI, Line 2d Capital gains/loss Schedule D, Part XI, Line 4b LLC Investment Schedule D, Part XII, Line 2d LLC Investment expenses Schedule D, Part XII, Line 4b Schedule D, Part XII, Line 4b - LLC Expenses $961,574. Europe (including Iceland and Greenland) Investments The investment portfolio is 44703218 East Asia and the Pacific Investments The investment portfolio is 21056480 North America (including Canada and Mexico, but not the United States) Investments The investment portfolio is 20229254 Central America and the Caribbean Investments The investment portfolio is 11467935 Middle East and North Africa Investments The investment portfolio is 849867 0 0 98306754 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 1 0 Member assistance 3 3000 Schedule I, Part I, Line 2 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 379490 0 0 0 7500 0 0 0 0 0 386990 0 0 Paul Zastrow Sr. VP, Secretary/Treasurer 322517 0 0 0 12452 0 0 0 0 0 334969 0 0 0 John Tetzloff Director of Sales 195303 0 15000 0 2740 0 0 0 0 0 213043 0 0 0 John Kolodziejczyk Directorof Information Systems 158739 0 0 0 391 0 0 0 0 0 159130 0 0 0 Jack Kerbeshian Director of Product 147510 0 0 0 14259 0 0 0 0 0 161769 0 0 0 Gregory Gall Central Regional Director 142734 0 7391 0 1782 0 0 0 0 0 151907 0 0 0 Butch Byers Southwest Regional Director 168699 0 6450 0 0 0 0 0 0 0 175149 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 producers 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 1362621 139040 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 268258 5385550 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 34307 Actual Expenses Incurred Catholic United Financial Foundation o 178451 Cash Conventus Now LLC b 4850000 Cash Conventus Now LLC q 447656 Salary Reimbursements Conventus Now LLC p 219476 Shared Services Costs