2024-10-07T09:53:32-05:00 2023-12-31 251031723 H2R CPA 875 GREENTREE RD BLDG 7 STE 1000 PITTSBURGH PA 15220 990 2023-01-01 250856580 WILLIAM PENN ASSOCIATION WILL 4122312979 709 BRIGHTON ROAD PITTSBURGH PA 152331821 DIANE M TORMA PRESIDENT/CHIEF EXECUTIVE OFFICER 4122312979 2024-09-19 1 1 LEO A HANNAH P00950147 4123912920 2024-09-19 2023 2024-10-15 13:58:12Z DIANE M TORMA 709 BRIGHTON ROAD PITTSBURGH PA 152331821 96182504 0 X WWW.WPALIFE.ORG X 1886 PA TO PROVIDE LIFE INSURANCE, ANNUITIES AND OTHER FRATERNAL BENEFITS TO MEMBERS OF THE WILLIAM PENN ASSOCIATION. 7 0 32 0 0 0 0 0 34990041 23754068 27333754 26689150 101114 134867 62424909 50578085 0 0 48055810 90544219 2623468 2641297 0 0 0 6515025 -47573296 57194303 45612220 5230606 4965865 569411329 524904561 521932607 475272321 47478722 49632240 TO PROVIDE LIFE INSURANCE, ANNUITIES AND OTHER FRATERNAL BENEFITS TO MEMBERS OF THE WILLIAM PENN ASSOCIATION. 0 0 LIFE INSURANCE, ANNUITIES, AND OTHER FRATERNAL BENEFITS (24,666 CERTIFICATES IN FORCE; $330,719,536 OF LIFE INSURANCE POLICIES IN FORCE). 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 11727 0 1 32 1 0 0 0 0 0 0 0 0 0 0 X 7 0 1 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 CA X WILLIAM PENN ASSOCIATION 4122312979 709 BRIGHTON ROAD PITTSBURGH PA 15233 GEORGE S CHARLES JR PRESIDENT/CEO 40.00 0.50 X X 222506 0 29573 MICHAEL J CHOBODY NATIONAL DIRECTOR 10.00 0.50 X 22557 0 4018 DAVID M KOZAK-RETIRED 1023 NATIONAL DIRECTOR/VCOB 10.00 0.50 X 17769 0 6582 DEBRA A LEWIS-AS OF 1023 NATIONAL DIRECTOR/VCOB 10.00 0.50 X 31704 0 8309 JOYCE E NICHOLSON NATIONAL DIRECTOR/VCOB-AS OF 10/23 10.00 0.50 X 25661 0 8503 KATHERINE E NOVAK NATIONAL DIRECTOR/COB 10.00 0.50 X 29183 0 8309 JAMES W ROBERTSON NATIONAL DIRECTOR 10.00 0.50 X 24115 0 7390 RICHARD E SAROSI NATIONAL DIRECTOR 10.00 0.50 X 23953 0 7741 ANNE MARIE SCHMIDT NATIONAL DIRECTOR/VCOB-RETIRED 10/23 10.00 0.50 X 27514 0 7524 DIANE M TORMA CHIEF FINANCIAL OFFICER 40.00 0.50 X 152918 0 21187 STEVEN F CHARLES CHIEF OPERATING OFFICER 40.00 0.50 X 141118 0 12352 CASSANDRA HOLMES CHIEF ADMINISTRATIVE OFFICER 40.00 0.50 X 141838 0 21163 JOHN BOSI CHIEF INFORMATION SECURITY OFFICER 40.00 X 114057 0 7792 974893 0 150443 5 0 1 0 BRUCE AND BRUCE 916 SHERWOOD DRIVE LAKE BLUFF IL 60044 PROVIDE ACTUARIAL AND CONSULTING SERVICE 217439 NOREEN FRITZ 123 WYNNE AVENUE PITTSBURGH PA 152091626 INSURANCE SALES AGENT 175283 FISSUNGUARD 680 E SWEDESFORD ROAD WAYNE PA 19087 SOFTWARE AND TECHNOLOGY SERVICES 159355 QLADMIN SOLUTIONS 3420 EXECUTIVE CENTER DRIVE STE 2 AUSTIN TX 78731 WEALTH MANAGEMENT SERVICES 144046 OPTIMUM LIFE REINSURANCE 1345 RIVER BEND DRIVE SUITE 100 DALLAS TX 75247 PROVIDE ACTUARIAL AND CONSULTING SERVICE 142965 7 PREMIUMS AND ANNUITY INCOME 524113 23540121 23540121 AMORTIZATION OF IMR 524113 213947 213947 23754068 25977121 25977121 46316448 45599273 5146 717175 -5146 712029 712029 OTHER INCOME 524298 134867 134867 134867 50578085 50578085 0 0 90544219 1005718 1224029 2701 244029 164820 60015 76721 6762 141179 81207 687 81419 68745 COMMISSIONS 727829 MINOR EQUIPMENT COSTS 440532 ACTUARIAL FEES 212665 PRINTING AND PUBLICATIO 211482 -49682539 45612220 1228344 980359 263121 321974 0 1094 2205092 1406406 862840 798686 558024005 514272711 2058727 2098120 6974292 6431617 569411329 524904561 497891 581901 521434716 474690420 521932607 475272321 X 0 0 0 0 47478722 49632240 47478722 49632240 569411329 524904561 X 4965865 2569433 -5381780 X X 0 1 X 1 0 33600 33600 2060886 1313856 747030 110606 92550 18056 798686 STATE REQUIRED LEGAL RESERVES 447660000 DEPOSIT-TYPE CONTRACTS 12115952 PROVISION FOR REFUNDS 500000 PREMIUMS PAID IN ADVANCE AND ANNUITY CONSIDERATIONS 417309 RETAINED BY SOCIETY IN TRUST 513915 OFFICIALS' RETIREMENT PROGRAM 1678835 INTEREST MAINTENANCE RESERVE 2384885 ASSET VALUATION RESERVE 8996209 MISCELLANEOUS RESERVES 31099 CERTIFICATE AND CONTRACT CLAIMS 362801 REMITTANCES AND ITEMS NOT ALLOCATED 29415 474690420 49686988 124000 124000 49562988 303074 712023 1015097 50578085 45438298 124000 124000 45314298 303074 -5152 297922 45612220 PART XI, LINE 2D - OTHER ADJUSTMENTS: SELF-CHARGED RENT 124,000. PART XI, LINE 4B - OTHER ADJUSTMENTS: REALIZED CAP (GAINS) TRANSFERRED TO IMR LIAB - NOT IN BK INCOME PER AFS 717,175. REALIZED LOSS ON DISPOSAL OF FIXED ASSETS -5,146. ROUNDING -6. PART XII, LINE 2D - OTHER ADJUSTMENTS: OCCUPANCY EXPENSES TO OFFSET SELF-CHARGED RENT 124,000. PART XII, LINE 4B - OTHER ADJUSTMENTS: REALIZED LOSS ON DISPOSAL OF FIXED ASSETS -5,146. ROUNDING -6. X X 0 0 0 GEORGE S CHARLES JR PRESIDENT/CEO 221599 0 0 0 907 0 16504 0 13069 0 252079 0 0 0 DIANE M TORMA CHIEF FINANCIAL OFFICER 152894 0 0 0 24 0 7650 0 13537 0 174105 0 0 0 CASSANDRA HOLMES CHIEF ADMINISTRATIVE OFFICER 141161 0 0 0 677 0 6858 0 14305 0 163001 0 0 0 STEVEN F CHARLES CHIEF OPERATING OFFICER 141118 0 0 0 0 0 6963 0 5389 0 153470 0 0 0 FORM 990, PART VI, SECTION A, LINE 2 GEORGE S. CHARLES, JR., PRESIDENT/CHIEF EXECUTIVE OFFICER, AND STEVEN F. CHARLES, CHIEF OPERATING OFFICER, ARE FATHER AND SON. JOHN E. LOVASZ, PUBLICATIONS EDITOR, AND MARY ANN KELLY-LOVASZ, ADMINISTRATIVE ASSISTANT, ARE HUSBAND AND WIFE. TONYA GONZALES, ANNUITY SUPPORT, AND ASHLEY FABRICK, CLAIMS & UNDERWRITING ASSISTANT, ARE SISTERS. FORM 990, PART VI, SECTION A, LINE 6 MEMBERSHIP SHALL BE EXTENDED TO ANY PERSON IN ACCORDANCE WITH THE REQUIREMENTS AND LIMITATIONS SET FORTH IN THE CHARTER, THE BY-LAWS, AND THE RESOLUTIONS OF THE BOARD. MEMBERSHIP SHALL INCLUDE VOTING MEMBERS AND NON-VOTING MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A AT THE GENERAL CONVENTION, WHICH IS THE HIGHEST GOVERNING BODY OF THE ASSOCIATION, DELEGATES ELECT THE BOARD OF DIRECTORS. THE ELECTED BOARD OF DIRECTORS THEN OPERATES AS THE GOVERNING BODY BETWEEN CONVENTIONS. FORM 990, PART VI, SECTION A, LINE 7B AT THE GENERAL CONVENTION, WHICH IS THE HIGHEST GOVERNING BODY OF THE ASSOCIATION, DELEGATES ELECT THE BOARD OF DIRECTORS. THE ELECTED BOARD OF DIRECTORS THEN OPERATES AS THE GOVERNING BODY BETWEEN CONVENTIONS. THE BOARD OF DIRECTORS MUST SEEK APPROVAL FROM A GENERAL OR SPECIAL CONVENTION ONLY IF THEY WISH TO AMEND THE ASSOCIATION BY-LAWS PERTAINING TO THE CONVENTION, THE BOARD OF DIRECTORS, THE ASSOCIATION CHARTER AND THE PROCEDURES TO AMEND THE BY-LAWS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 WILL BE DISTRIBUTED TO BOARD MEMBERS PRIOR TO THE THIRD QUARTER MEETING. THE CHIEF FINANCIAL OFFICER AND/OR PARTNER OF THE ACCOUNTING FIRM WILL REVIEW THE FORM 990 AND ANSWER ANY QUESTIONS. THE FORM 990 WILL THEN BE AMENDED, IF NEED BE, AND APPROVED BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 12C EVERY JANUARY, THE CHIEF ADMINISTRATIVE OFFICER DISTRIBUTES CONFLICT OF INTEREST QUESTIONNAIRES TO EVERY DIRECTOR, OFFICER AND KEY EMPLOYEE TO COMPLETE AND RETURN. FORM 990, PART VI, SECTION B, LINE 15 THE PROCESS OF COMPENSATION FOR THE CHIEF EXECUTIVE OFFICER, EXECUTIVE DIRECTOR, OR TOP MANAGEMENT OFFICIAL IS DETERMINED BY THE ASSOCIATION'S COMPENSATION COMMITTEE WHICH IS COMPRISED OF THE CHAIRMAN OF THE BOARD, THE PRESIDENT/CHIEF EXECUTIVE OFFICER, AND UP TO THREE NATIONAL DIRECTORS APPOINTED BY THE BOARD. THE COMPENSATION COMMITTEE HAS THE AUTHORITY TO RETAIN SUCH INDEPENDENT COUNSEL, ACCOUNTANTS, EXPERTS AND OTHER ADVISORS AS IT DETERMINES APPROPRIATE TO ASSIST IN THE PERFORMANCE OF ITS FUNCTION OF DETERMINING COMPENSATION. THE COMPENSATION COMMITTEE DEVELOPS AND ADMINISTERS A COMPENSATION POLICY FOR SENIOR MANAGEMENT THAT CONTAINS APPROPRIATE PERFORMANCE INCENTIVES AND EQUITY-LINKED COMPONENTS, AND OVERSEES THE ESTABLISHMENT AND ADMINISTRATION OF COMPENSATION PROGRAMS FOR THE ASSOCIATION'S EMPLOYEES GENERALLY; ANNUALLY REVIEWS THE CHIEF EXECUTIVE OFFICER'S PERFORMANCE, OF WHICH THE CHIEF EXECUTIVE OFFICER MAY NOT BE PRESENT DURING VOTING AND DELIBERATIONS ON THE COMPENSATION OF THE CHIEF EXECUTIVE OFFICER; ANNUALLY REVIEWS THE PERFORMANCE OF ALL EXECUTIVE OFFICERS OF THE ASSOCIATION, AND AFTER SUCH CONSULTATION WITH THE FULL BOARD OF DIRECTORS AS IT DETERMINES APPROPRIATE TO ESTABLISH COMPENSATION TERMS FOR SUCH INDIVIDUALS, REVIEWS AND, AS DEEMED APPROPRIATE, AUTHORIZES TO RATIFY COMPENSATION PROGRAMS AND POLICIES OF THE ASSOCIATION. FORM 990, PART VI, SECTION C, LINE 19 WILLIAM PENN ASSOCIATION (WPA) WILL MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST, AND WILL MAKE THE DOCUMENTS AVAILABLE FOR PUBLIC INSPECTION AT WPA'S OFFICE. WPA WILL ALSO MAKE ITS AUDITED FINANCIAL STATEMENTS AVAILABLE FOR PUBLIC INSPECTION THROUGH THE NATIONAL ASSOCIATION OF INSURANCE COMMISSIONERS OR THE PENNSYLVANIA DEPARTMENT OF INSURANCE. FORM 990, PART XI, LINE 9: CHANGE IN MANDATORY SECURITIES VALUATION RESERVE -3,445,881. CHANGE IN NONADMITTED ASSETS -1,218,724. REALIZED CAPITAL GAINS TRANSFERRED TO IMR LIABILITY -717,175. FORM 990 PART XI, LINE 2C: WILLIAM PENN ASSOCIATION'S BOARD OF DIRECTORS CHARTERED AN AUDIT COMMITTEE, WITH SPECIFIC POWERS AND DUTIES RELATING TO WPA'S INDEPENDENT AUDIT PROGRAM AND INTERNAL CONTROL PROGRAM. THE COMMITTEE MEETS ON A REGULAR BASIS, AND PROVIDES ACTIVE OVERSIGHT TO WPA'S FINANCIAL AND COMPLIANCE ACTIVITIES. THE COMMITTEE IS DIRECTLY RESPONSIBLE FOR THE APPOINTMENT AND DISMISSAL, EVALUATION, COMPENSATION, AND OVERSIGHT OF WPA'S INDEPENDENT ACCOUNTANT. FORM 990, PART VI, SECTION C, LINE 18 WILLIAM PENN ASSOCIATION (WPA) WILL MAKE FORM 1023 AND FORM 990 AVAILABLE TO THE PUBLIC UPON REQUEST, AND WILL MAKE THE FORMS AVAILABLE FOR PUBLIC INSPECTION AT WPA'S OFFICE. WILLIAM PENN FRATERNAL ASSOCIATION SCHOLARSHIP FOUNDATION 709 BRIGHTON ROAD PITTSBURGH PA 15233 237059647 TO GRANT SCHOLARSHIPS TO MEMBERS OF THE WILLIAM PENN FRATERNAL ASSOCIATION PA 501(C)(3) 170(B)(1)(A)(VI) N/A 0 WILLIAM PENN ASSOCIATION FOUNDATION 709 BRIGHTON ROAD PITTSBURGH PA 15233 251900348 TO RAISE FUNDS FOR VARIOUS CHARITABLE AND FRATERNAL ACTIVITIES AND CAUSES PA 501(C)(3) 170(B)(1)(A)(VI) N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0