2024-08-20T09:38:16-05:00 2023-12-31 430352985 KERBER ECK & BRAECKEL LLP 3200 ROBBINS ROAD STE 200A SPRINGFIELD IL 62704 990 2023-01-01 370580740 WESTERN CATHOLIC UNION WEST 2172239721 510 MAINE STREET QUINCY IL 62301 SHERRI SCHAEFER INTERIM PRESIDENT 2172239721 2024-07-23 1 0 KIRSTEN KIENZLER P01714919 2177890960 2024-07-23 2023 2024-08-08 14:25:15Z SHERRI SCHAEFER 510 MAINE STREET QUINCY IL 62301 78484037 0 X WWW.WCULIFE.ORG X 1877 IL FRATERNAL BENEFIT SOCIETY OFFERING LIFE INSURANCE AND ANNUITY PLANS TO ITS MEMBERS. 10 9 14 25367 0 0 0 0 26568265 40768963 7560753 7554283 644368 490986 34773386 48814232 17000 16000 38855958 47248944 887362 828506 0 0 0 -6523189 -64869 33237131 48028581 1536255 785651 186673841 183108342 179321893 175404426 7351948 7703916 TO ATTEND TO THE FRATERNAL, FINANCIAL AND SPIRITUAL WELL-BEING OF THE MEMBERS OF THE WESTERN CATHOLIC UNION BY OFFERING THEM THE GREATEST NUMBER OF SOCIAL AND SPIRITUAL OPPORTUNITIES POSSIBLE AND TO KEEP OUR MEMBERS SAFE AND SECURE WITH THE BEST INSURANCE PRODUCTS AVAILABLE. 0 0 THE WESTERN CATHOLIC UNION IS A FRATERNAL BENEFIT SOCIETY OFFERING LIFE INSURANCE AND ANNUITY PLANS TO ITS MEMBERS. PROGRAM SERVICES INCLUDE $47,248,944 FOR BENEFITS PAID TO MEMBERS FOR LIFE INSURANCE AND ANNUITY BENEFITS. THE REMAINING EXPENSES COVER OPERATIONAL EXPENSES. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 3105 0 1 14 1 0 0 0 0 0 0 0 0 0 0 X 10 9 0 0 0 0 1 1 0 1 1 0 1 1 1 1 1 1 1 1 1 1 0 IL X SHERRI SCHAEFER 2172239721 510 MAINE STREET QUINCY IL 62307 SHERRI SCHAEFER CHAIRWOMAN, INTERIM PRESIDENT 30.00 X X 70800 0 0 AUGUST BOESSEN TRUSTEE 1.00 X 9600 0 0 DAVID HUTT TRUSTEE 1.00 X 9600 0 0 JAMES OBERT TRUSTEE 1.00 X 9600 0 0 PHILIP HILDEBRAND JR TRUSTEE 1.00 X 9600 0 0 MICHAEL BICKHAUS TRUSTEE 1.00 X 9600 0 0 LINDA MOORE TRUSTEE 1.00 X 9600 0 0 JOHN PRANGL TRUSTEE 1.00 X 9600 0 0 ROBERT MOORE TRUSTEE 1.00 X 9600 0 0 BLAKE DOANE TRUSTEE 1.00 X 9600 0 0 MATTHEW BAINBRIDGE SECRETARY 40.00 X 93785 0 17644 RYAN HULETT REGIONAL SALES MANAGER 40.00 X 111780 0 6615 362765 0 24259 1 0 0 0 MILLER & NEWBERG INC 7304 W 130TH ST SUITE 370 OVERLAND PARK KS 66213 ACTUARIAL 200058 AQS ASSET MANAGEMENT LCC 5806 MESA DR AUSTIN TX 78731 ASSET MANAGEMENT 198010 ILLUSTRATE INC 10 FOUR SEASONS PL TORONTO ONTARIO CA M9B 6H7 DIGITAL SOLUTIONS 153065 3 INSURANCE PREMIUMS 524113 40352363 40352363 COMMISSION ALLOWANCE 524113 416600 416600 40768963 9114755 9114755 28109333 29669805 -1560472 -1560472 -1560472 AMORTIZATION OF IMR 900099 478465 478465 MISCELLANEOUS 900099 12521 12521 490986 48814232 39208491 0 9605741 16000 47248944 274179 392938 28832 76537 56020 12362 71059 629023 393045 200 70029 2300 29500 COMMISSIONS 1262308 OTHER EXPENSES 282681 REGULATORY EXPENSES 38811 CHANGE IN RESERVES -1361975 -1494212 48028581 2634192 697242 3041666 21585840 13880613 16584720 2173938 1510605 699477 663333 163386010 140636709 38871 0 2993012 2940498 186673841 183108342 273501 193908 18652 13863 179029740 175196655 179321893 175404426 X 0 0 0 0 7351948 7703916 7351948 7703916 186673841 183108342 X 785651 68209 -501892 X X 0 1 X 1 0 4950 4950 1364063 708447 655616 804925 802158 2767 663333 RESERVES 164429553 DEPOSIT TYPE CONTRACTS 2341156 CLAIMS LIABILITY 4494299 REFUNDS PAYABLE 50000 INTEREST MAINTENCE RESERVE 2344435 ASSET VALUATION RESERVE 1181539 EMPLOYEE POST RETIREMENT HEALTH 45274 COMMISSIONS PAYABLE 52641 EXPENSE ALLOWANCE DEFICIENCY RESERVE 257758 175196655 X 49873562 0 49873562 -1059330 -1059330 48814232 49087911 0 49087911 -1059330 -1059330 48028581 PART X, LINE 2: THE SOCIETY IS EXEMPT FROM FEDERAL INCOME TAX UNDER THE PROVISIONS OF SECTION 501(C)(8) OF THE INTERNAL REVENUE CODE AND IS NOT CONSIDERED A PRIVATE FOUNDATION. THE SOCIETY HAS RECOGNIZED IN THE FINANCIAL STATEMENTS THE EFFECTS OF ALL TAX POSITIONS AND CONTINUALLY EVALUATES EXPIRING STATUTES OF LIMITATIONS, AUDITS, CHANGES IN TAX LAW, AND NEW AUTHORITATIVE RULINGS. THE SOCIETY IS NOT AWARE OF ANY CIRCUMSTANCES OR EVENTS THAT MAKE IT REASONABLY POSSIBLE THAT UNRECOGNIZED TAX BENEFITS MAY INCREASE OR DECREASE WITHIN 12 MONTHS OF THE DATE OF THE STATEMENTS OF FINANCIAL POSITION. PENALTIES AND INTEREST ASSESSED BY TAXING AUTHORITIES ARE INCLUDED IN GENERAL EXPENSES, IF APPLICABLE. THERE WERE NO INTEREST OR PENALTIES PAID DURING FISCAL YEAR 2023 AND 2022. THE SOCIETY FILES FORM 990 ANNUALLY IN THE FEDERAL JURISDICTION. PART XI, LINE 4B - OTHER ADJUSTMENTS: INVESTMENT EXPENSES 386,121. COMMISSION AND EXPENSE ALLOWANCES 48,761. TRANSFERS TO IMR -1,494,212. PART XII, LINE 4B - OTHER ADJUSTMENTS: INVESTMENT EXPENSES 386,121. COMMISSION AND EXPENSE ALLOWANCES 48,761. TRANSFERS TO IMR -1,494,212. 1 TUITION SCHOLARSHIPS 21 16000 0 PART I, LINE 2: THE SOCIETY AWARDS SCHOLARSHIPS FOR GRADE SCHOOL, HIGH SCHOOL, AND A LOCAL CATHOLIC UNIVERSITY. INDIVIDUALS MUST SUBMIT AN APPLICATION WHICH IS REVIEWED AND APPROVED PRIOR TO AWARDING THE ASSISTANCE. APPLICATIONS ARE KEPT ON FILE FOR MORE THAN 24 MONTHS. FORM 990, PART VI, SECTION A, LINE 6 THE WESTERN CATHOLIC UNION IS A NOT-FOR-PROFIT FRATERNAL BENEFIT SOCIETY WITH 19,289 MEMBERS AT THE CLOSE OF BUSINESS ON DECEMBER 31, 2023. FORM 990, PART VI, SECTION A, LINE 7A THE BOARD CAN BE UP TO 12 MEMBERS CONSISTING OF THE PRESIDENT, UP TO 10 TRUSTEES ELECTED BY THE NATIONAL COUNCIL, WHICH IS A BODY ELECTED BY THE DELEGATES, AND THE BOARD OF TRUSTEES MAY APPOINT 1 TRUSTEE TO FILL NEEDED EXPERTISE TO SATISFY GOOD GOVERNANCE PRACTICES. THE BOARD OF TRUSTEES MAY APPOINT TRUSTEES TO FILL VACATED POSITIONS. THE NATIONAL COUNCIL MEETS AT THE QUADRENNIAL CONVENTION OR UPON PETITION BY THE MAJORITY OF THE MEMBERS OF BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 11B THE SOCIETY DISTRIBUTES THE 990 TO THE ENTIRE BOARD ELECTRONICALLY VIA BOX.COM PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD OF TRUSTEES FILL OUT CONFLICT OF INTEREST STATEMENTS ANNUALLY AND SUBMIT THEM TO THE SECRETARY. NEW BOARD MEMBERS COMPLETE THEM SOON AFTER ELECTION OR APPOINTMENT. EMPLOYEES FILL OUT CONFLICT OF INTEREST STATEMENTS ANNUALLY AND SUBMIT THEM TO THE PRESIDENT, USUALLY IN JANUARY. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF TRUSTEES REVIEWS THE PRESIDENT'S COMPENSATION. THE FULL BOARD ESTABLISHES COMPENSATION, BONUSES AND RAISES FOR THE PRESIDENT AND REVIEWS SALARIES OVER $40K ANNUALLY. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE NOT AVAILABLE TO THE PUBLIC. FORM 990, PART XI, LINE 9: CHANGE IN NONADMITTTED ASSETS 168,337. CHANGE IN AVR -143,450. CHANGE IN FRATERNAL DEATH BENEFIT PROGRAM -416,329. CHANGE IN SURPLUS DUE TO REINSURANCE -110,450. FORM 990, PART XII, LINE 2C THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.