2026-09-23T11:54:42-05:00 2025-12-31 251031723 H2R CPA 875 GREENTREE RD BLDG 7 STE 1000 PITTSBURGH PA 15220 990 2025-01-01 250856580 WILLIAM PENN ASSOCIATION WILL 4122312979 709 BRIGHTON ROAD PITTSBURGH PA 152331821 ADAM C SEDAR CHIEF FINANCIAL OFFICER 4122312979 2026-09-22 1 LEO A HANNAH P00950147 4123912920 2026-09-22 2025 ADAM C SEDAR 709 BRIGHTON ROAD PITTSBURGH PA 152331821 96164734 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 28 0 0 0 0 0 44873384 41110319 25401019 24738513 291114 922898 70565517 66771730 0 0 77681478 58662406 2742640 2782961 0 0 0 -11920320 3543967 68503798 64989334 2061719 1782396 511705719 507786910 460282434 454230529 51423285 53556381 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 (22,644 CERTIFICATES IN FORCE; $311,024,227 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 10553 0 1 28 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 MICHAEL J CHOBODY NATIONAL DIRECTOR 10.00 0.50 X 19067 0 3367 DEBRA A LEWIS VICE CHAIR OF THE BOARD 10.00 0.50 X 24858 0 7279 JOYCE E NICHOLSON CHAIR OF THE BOARD 10.00 0.50 X 22010 0 7440 KATHERINE E NOVAK NATIONAL DIRECTOR 10.00 0.50 X 23788 0 7279 JAMES W ROBERTSON VICE CHAIR OF THE BOARD 10.00 0.50 X 23562 0 6553 RICHARD E SAROSI NATIONAL DIRECTOR 10.00 0.50 X 18364 0 6834 DIANE M TORMA PRESIDENT/CEO 40.00 0.50 X X 247781 0 25367 ADAM C SEDAR CHIEF FINANCIAL OFFICER 40.00 0.50 X 167105 0 20209 STEVEN F CHARLES CHIEF OPERATING OFFICER 40.00 0.50 X 167492 0 15025 CASSANDRA HOLMES CHIEF ADMINISTRATIVE OFFICER 40.00 0.50 X 171709 0 22097 BARBI TEW SALES DIRECTOR 40.00 0.00 X 119061 0 8801 JOHN BOSI CHIEF INFORMATION SECURITY 40.00 0.00 X 155552 0 14546 1160349 0 144797 6 0 1 0 BRUCE AND BRUCE 916 SHERWOOD DRIVE LAKE BLUFF IL 60044 ACTUARIAL AND CONSULTING SERVICES 288312 WELLINGTON MANAGEMENT 280 CONGRESS STREET BOSTON MA 02210 WEALTH MANAGEMENT SERVICES 268560 FISSUNGUARD 680 E SWEDESFORD ROAD WAYNE PA 19087 SOFTWARE AND TECHNOLOGY SERVICES 180125 QLADMIN SOLUTIONS 3420 EXECUTIVE CENTER DRIVE STE 2 AUSTIN TX 78731 WEALTH MANAGEMENT SERVICES 148874 NOREEN FRITZ 123 WYNNE AVE PITTSBURGH PA 15209 INSURANCE SALES AGENT 135487 7 PREMIUMS AND ANNUITY INCOME 524113 40946485 40946485 AMORTIZATION OF IMR 524113 163834 163834 41110319 25118561 25118561 29012956 29390273 2731 -377317 -2731 -380048 -380048 OTHER INCOME 524298 922898 922898 922898 66771730 66771730 0 0 X 58662406 1305146 964024 86495 260466 166830 94903 86444 21611 194361 62505 2000 46252 65895 COMMISSIONS 870226 MINOR EQUIPMENT COSTS 471637 CUSTODIAL ACCOUNT FEES 402815 ACTUARIAL FEES 270783 954535 64989334 1699000 870610 2489886 3021670 567 0 2367275 1482967 784097 884308 498278899 494447013 2210051 2340520 6243219 6222789 511705719 507786910 453891 451423 459828543 453779106 460282434 454230529 X 0 0 0 0 51423285 53556381 51423285 53556381 511705719 507786910 X 1782396 1643741 -3381000 2087959 X X 0 1 X 1 0 33600 33600 2223069 1372361 850708 110606 110606 0 884308 STATE REQUIRED LEGAL RESERVES 427889800 DEPOSIT-TYPE CONTRACTS 10072635 PROVISION FOR REFUNDS 500000 PREMIUMS PAID IN ADVANCE AND ANNUITY CONSIDERATIONS 383912 RETAINED BY SOCIETY IN TRUST 388985 OFFICIALS' RETIREMENT PROGRAM 1641219 INTEREST MAINTENANCE RESERVE 1342764 ASSET VALUATION RESERVE 10779227 MISCELLANEOUS RESERVES 158347 CERTIFICATE AND CONTRACT CLAIMS 617484 REMITTANCES AND ITEMS NOT ALLOCATED 4733 453779106 66890220 124000 124000 66766220 626334 -620824 5510 66771730 64487000 124000 124000 64363000 626334 626334 64989334 PART XI, LINE 2D - OTHER ADJUSTMENTS: SELF-CHARGED RENT 124,000. PART XI, LINE 4B - OTHER ADJUSTMENTS: REALIZED CAP (LOSSES) TRANSFERRED TO IMR LIAB - NOT IN BK INCOME PER AFS -620,824. PART XII, LINE 2D - OTHER ADJUSTMENTS: OCCUPANCY EXPENSES TO OFFSET SELF-CHARGED RENT 124,000. X X 0 0 0 DIANE M TORMA PRESIDENT/CEO 241781 0 6000 0 0 0 11069 0 14298 0 273148 0 0 0 CASSANDRA HOLMES CHIEF ADMINISTRATIVE OFFICER 165709 0 6000 0 0 0 8585 0 13512 0 193806 0 0 0 ADAM C SEDAR CHIEF FINANCIAL OFFICER 161105 0 6000 0 0 0 8355 0 11854 0 187314 0 0 0 STEVEN F CHARLES CHIEF OPERATING OFFICER 161492 0 6000 0 0 0 8374 0 6651 0 182517 0 0 0 JOHN BOSI CHIEF INFORMATION SECURITY 151802 0 3750 0 0 0 7777 0 6769 0 170098 0 0 0 FORM 990, PART VI, SECTION A, LINE 2 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 IX, LINE 24E CHANGE IN RESERVES 263,798. PRINTING AND PUBLICATIONS 162,358. FRATERNAL ACTIVITIES 107,262. INSURANCE LICENSES AND FEES 82,415. SUNDRY GENERAL 63,449. EQUIPMENT RENTAL AND MAINTENANCE 61,351. MEDICAL EXAMS 42,395. COLLECTION & SERVICE CHARGES 35,003. POSTAGE AND SHIPPING 31,324. RECORD STORAGE EXPENSE 24,508. DATA PROCESSING 22,557. FIELD ALLOWANCE 22,500. TELEPHONE 17,167. INSPECTION REPORTS 9,875. ASSOCIATION DUES 6,182. BOOKS & PERIODICALS 2,391. FORM 990, PART XI, LINE 9: CHANGE IN MANDATORY SECURITIES VALUATION RESERVE -243,667. CHANGE IN NONADMITTED ASSETS 1,710,802. REALIZED CAPITAL GAINS TRANSFERRED TO IMR LIABILITY 620,824. 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 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