2024-11-10T15:33:59-06:00 2023-12-31 251031723 H2R CPA 875 GREENTREE RD BLDG 7 STE 1000 PITTSBURGH PA 15220 990 2023-01-01 340220540 FIRST CATHOLIC SLOVAK LADIES ASSOCIATION OF THE UNITED STATES OF AMERICA FIRS 2164648015 24950 CHAGRIN BOULEVARD CLEVELAND OH 441225634 CYNTHIA MARIA MALESKI NATIONAL PRESIDENT/CEO 2164648015 2024-09-17 1 1 LEO A HANNAH P00950147 4123912920 2024-09-17 2023 2024-10-15 13:58:12Z CYNTHIA MARIA MALESKI 24950 CHAGRIN BLVD BEACHWOOD OH 44122 171574360 0 X WWW.FCSLA.ORG X 1899 OH TO PROVIDE FRATERNAL AND OTHER BENEFITS TO MEMBERS. 11 0 51 0 7424 0 0 0 37395224 21599207 49958076 50086904 43046 17969 87396346 71704080 386787 418818 67518282 83242030 3834855 4348374 0 0 0 14488126 -15333608 86228050 72675614 1168296 -971534 1127543562 1103676515 1018468080 994980568 109075482 108695947 X ESTABLISHED IN 1892, THE FIRST CATHOLIC SLOVAK LADIES ASSOCIATION PROVIDES FINANCIAL SECURITY TO ITS MEMBERS NATIONWIDE THROUGH ITS PREMIER LIFE INSURANCE AND ANNUITY PRODUCTS. SALES OF THESE PRODUCTS ALLOW THE FIRST CATHOLIC SLOVAK LADIES ASSOCIATION TO SERVE BOTH ITS MEMBERS AND THE COMMUNITY WITH FRATERNAL AND CHARITABLE OPPORTUNITIES THAT PROMOTE CATHOLIC VALUES AND SLAVIC TRADITIONS. 0 0 LIFE INSURANCE ACTIVITIES AND BENEFITS (131,232 CERTIFICATES IN FORCE: $1,057,020,000 AMOUNT OF INSURANCE 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 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 13422 0 1 51 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 11 0 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 CA X FRANK RANDO (CONTROLLER) 2164648017 24950 CHAGRIN BOULEVARD BEACHWOOD OH 441225634 CYNTHIA MARIA MALESKI NATIONAL,PRESIDENT/CEO 50.00 X X 320602 0 33216 MSGR PETER M POLANDO NATIONAL CHAPLAIN 10.00 X 22486 0 0 LAWRENCE M GOLOFSKI NATIONAL DIRECTOR 10.00 X 17917 0 0 BARBARA A SEKERAK NATIONAL AUDITOR 10.00 X 23889 0 0 JOANN SKVAREK BANVICH NATIONAL DIRECTOR 10.00 X 17468 0 0 DENNIS L POVONDRA NATIONAL AUDITOR 10.00 X 23835 0 0 JEANETTE E PALANCA NATIONAL DIRECTOR 10.00 X 18000 0 0 DOROTHY L URBANOWICZ NATIONAL AUDITOR 10.00 X 37959 0 0 SUE ANN M SEICH NATIONAL DIRECTOR 10.00 X 23871 0 0 PATRICK BRAUN NATIONAL DIRECTOR 10.00 X 18326 0 0 SUZANNE V STROHL NATIONAL DIRECTOR 10.00 X 25656 0 0 STUART L COLLINS NATIONAL TREASURER 40.00 X 155088 0 23269 KIMBERLY GRAHAM NATIONAL SECRETARY 40.00 X 195451 0 24714 JAMES DEAK PROGRAMMER/ANALYST 40.00 X 117840 0 21164 PAULA DALPIAZ INSURANCE/IT MGR 40.00 X 117559 0 21902 PAUL S SMITHERS NATIONAL SALES MANAGER 40.00 X 147524 0 23837 KAREN MCHUGH HEAD OF HUMAN RESOURCES 40.00 X 108531 0 17902 FRANK RANDO CONTROLLER 40.00 X 135519 0 22189 PRATHIMA VADI IT MANAGER 40.00 X 133723 0 21793 1661244 0 209986 9 0 1 0 TRIANGLE PRESS 6720 ALLENTOWN BLVD HARRISBURG PA 17112 PRINTING AND PUBLISHING 343702 THE BREWER-GARRETT COMPANY PO BOX 72324 CLEVELAND OH 44192 BUILDING REPAIRS 164877 SLAPPY COMMUNICATIONS 13315 BROADWAY AVENUE CLEVELAND OH 44125 COMPUTER SUPPORT SERVICES 162901 ALLEN BAILEY & ASSOCIATES 6907 CAPITAL OF TEXAS HIGHWAY NORTH AUSTIN TX 78731 ACTUARIAL SERVICES 111298 H2R CPA 875 GREENTREE ROAD/SEVEN PARKWAY CE PITTSBURGH PA 15220 AUDIT & ACCOUNTING 104664 5 FRATERNAL INSURANCE PREMIUMS 524113 21912925 21912925 AMORTIZATION OF IMR 524113 -313718 -313718 21599207 51966082 51966082 97981106 99860284 -1879178 -1879178 -1879178 17420 9996 7424 7424 MISCELLANEOUS 900099 10545 10545 10545 71704080 71696656 7424 0 X 161600 257218 83242030 981747 2572243 86623 469243 238518 79339 217347 1106611 147408 268277 84686 233056 77481 181919 393335 72534 PRINTING AND PUBLICATIO 823858 BRANCH MEMBERSHIP 694477 COMMISSIONS ON PREMIUMS 558744 DATA PROCESSING 507977 -20780657 72675614 30070 32360 18227618 26389361 258126 244672 9389843 4803929 4825006 4585914 1067508218 1035437703 1817062 1729677 34877462 35256828 1127543562 1103676515 2009095 1249365 1016458985 993731203 1018468080 994980568 X 0 0 0 0 109075482 108695947 109075482 108695947 1127543562 1103676515 X -971534 -5235172 5827171 X X 0 1 X 1 0 20100 20100 7107385 2937168 4170217 2262358 1866761 395597 4585914 AGGREGATE LIFE CERTIFICATES & CONTRACTS RESERVE 945931465 CERTIFICATE AND CONTRACT CLAIMS - LIFE 3584845 PROVISIONS FOR REFUNDS PAYABLE 1400000 PREMIUMS AND ANNUITY ADVANCES RECEIVED 385996 DEVELOPMENT FUND - NEW BRANCHES 77990 ACCRUED COMMISSIONS TO FIELD WORKERS 2345 ASSET VALUATION RESERVE 11173376 ACCRUED BENEFITS TO DIRECTORS 314706 ANNA HURBAN AND OTHER SCHOLARSHIP FUNDS 271608 DEPOSIT-TYPE CONTRACTS 29575289 UNPAID BENEFICIARY TRUST 57450 ACCRUED BENEFITS TO EMPLOYEES 358756 OTHER LIABILITIES 495126 ACCRUED TAXES, LICENSES & FEES 102251 993731203 75242728 4645259 4645259 70597469 1106611 1106611 71704080 71579090 10087 10087 71569003 1106611 1106611 72675614 PART XI, LINE 2D - OTHER ADJUSTMENTS: COGS FOR COOKBOOK SALES NETTED AGAINST PROCEEDS ON 990 9,996. RECONCILIATION WITH F/S 91. CHANGE IN INTEREST MAINTENANCE RESERVE 4,635,172. PART XII, LINE 2D - OTHER ADJUSTMENTS: COGS FOR COOKBOOK SALES NETTED AGAINST PROCEEDS ON 990, PART VIII 9,996. RECONCILIATION WITH F/S 91. 1 ST ANDREW ABBEY 10510 BUCKEYE ROAD CLEVELAND OH 44104 340714321 15000 0 GENERAL ST VINCENT ARCHABBEY 300 FRASER PURCHASE RD LATROBE PA 15650 753102712 20000 0 GENERAL ST JOHN THE BAPTIST CATHOLIC SCHOOL 1849 LINCOLN AVE WHITING IN 46394 350883499 15000 0 GENERAL ST CASIMIR PARISH 18022 NEFF ROAD CLEVELAND OH 44119 340815869 15000 0 GENERAL HOLY NAME PARISH 8328 BROADWAY AVE CLEVELAND OH 44105 340294900 15000 0 GENERAL SISTERS OF THE MOST HOLY TRINITY 21281 CHARDON RD EUCLID OH 44117 341515352 15000 0 GENERAL MISSIONARY SISTERS OF ST BENEDICT 10604 S LECLAIRE OAK FOREST IL 60453 752985440 15000 0 GENERAL SACRED HEART MONASTERY 1910 MAPLE AVE LISLE IL 60532 362169170 15000 0 GENERAL SLOVAK MISSION OF CHICAGO 9855 S KEAN AVE PALOS HILLS IL 60465 842425176 15000 0 GENERAL ST MICHAEL PARISH & SCHOOL 16 W WILHELM ST SCHERERVILLE IN 46375 350965645 10000 0 GENERAL HOLY FAMILY PARISH 444 ST JOHN STREET PITTSBURGH PA 15239 201540630 10000 0 GENERAL EPIPHANY OF OUR LORD CATHOLIC CHURCH 44 PENNSYLVANIA BLVD MONESSEN PA 15062 251650357 10000 0 GENERAL ST ANTHONY OF PADUA PARISH 6750 STATE ROAD PARMA OH 44134 340865249 10000 0 GENERAL STS MARY & JOSEPH CATHOLIC CHURCH 637 IVER STREET VALPARAISO NE 68065 470596870 10000 0 GENERAL ST MARY MAGDELENE CHURCH 127 S BRIGGS ST JOLIET IL 60433 362678837 10000 0 GENERAL ST VINCENT SEMINARY 300 FRASER PURCHASE RD LATROBE PA 15650 250964126 10000 0 GENERAL ST MICHAEL SCHOOL 3431 ST MICHAEL BLVD NW CANTON OH 44718 340782263 10000 0 GENERAL HOLY TRINITY POLISH MISSION 1118 N NOBLE ST CHICAGO IL 60642 362171703 10000 0 GENERAL ST JOHN THE BAPTIST CATHOLIC CHURCH 1849 LINCOLN AVE WHITING IN 46394 350883499 10000 0 GENERAL ST MICHAEL PARISH & SCHOOL 3430 ST MICHAEL BLVD NW CANTON OH 44718 340782263 10000 0 GENERAL POLICE CHAPLAINS MINISTRY 1140 W JACKSON BLVD CHICAGO IL 60607 363564588 10000 0 GENERAL LIGHT OF HEARTS VILLA 283 UNION ST BEDFORD OH 44146 341619270 10000 0 GENERAL SISTERS OF SAINTS CYRIL & METHODIUS 1002 RAILROAD ST DANVILLE PA 17821 240795486 10000 0 GENERAL CATHOLIC CHARITIES 7911 DETROIT AVE CLEVELAND OH 44102 341318541 10000 0 GENERAL PAWS & THINK 1346 N DELWARE STREET INDIANAPOLIS IN 46202 352153710 10000 0 GENERAL ST THOMASHOLY TRINITY CHURCH 363 WEST 11TH AVE EXTENSION HOMESTEAD PA 15120 201542051 9000 0 GENERAL ST JOSAPHAT UKRAINIAN CATHOLIC CHURCH 8624 WHITE OAK AVE MUNSTER IN 46321 352016846 8000 0 GENERAL OUR LADY OF LOURDES PARISH 3395 EAST 53RD ST CLEVELAND OH 44127 340733173 8000 0 GENERAL ST LUDMILA CATHOLIC CHURCH 2107 J STREET SW CEDAR RAPIDS IA 52404 420680249 8000 0 GENERAL ST WENCESLAUS PARISH 205 NORTH LIDICE AVE TABOR SD 57063 460239785 8000 0 GENERAL ST JOHN NEUMANN REGIONAL SCHOOL 259 LAFAYETTE AVE PALMERTON PA 18071 232042189 8000 0 GENERAL THE NEW CZECH VOICE OF CLEVELAND 5839 MAUREEN DR SEVEN HILLS OH 44131 269422106 7000 0 GENERAL CZECH CONNECTION 279 4TH STREET SE BRITT IA 50423 237538025 7000 0 GENERAL GLOBAL SLOVAKIA 9075 S 1300 E SUITE 102 SANDY UT 84094 881686228 7000 0 GENERAL YOUTH CHALLENGE 800 SHARON DR WESTLAKE OH 44145 341396825 7000 0 GENERAL ASSUMPTION OF THE BLESSED VIRGIN MARY CATHOLIC CHURCH 195 S KANKAKEE ST COAL CITY IL 60416 362270042 6000 0 GENERAL ST BENEDICT CATHOLIC CHURCH 260 BRUNO RD GREENSBURG PA 15601 251087399 6000 0 GENERAL SLOVAK CULTURAL GARDEN 2900 MARTIN LUTHER KING JR DR CLEVELAND OH 44101 340714321 6000 0 GENERAL ST NICHOLAS CHURCH 226 S WASHINGTON ST WILKESBARRE PA 18701 240803616 5000 0 GENERAL ST JOSEPH'S CHURCH & CATHOLIC SCHOOL 612 HIGH ST BEATRICE NE 68310 470447179 5000 0 GENERAL IMMACULATE CONCEPTION CATHOLIC CHURCH 202 ALABAMA ST SE LONSDALE MN 55046 410718325 5000 0 GENERAL ST THOMAS MORE CHURCH & CATHOLIC SCHOOL 4180 N AMBER DR BROOKLYN OH 44144 340826176 5000 0 GENERAL ST CATHERINE CHURCH 4500 220TH STREET E PRIOR LAKE MN 55372 460187030 5000 0 GENERAL ST PATRICK PARISH 1225 WEST MAIN ST WHITEWATER WI 53190 391048731 5000 0 GENERAL ST WENDELIN PARISH 2281 COLUMBUS ROAD CLEVELAND OH 44113 340714758 5000 0 GENERAL ST JOHN THE BAPTIST CATHOLIC CHURCHYOUTH MINISTRY 1849 LINCOLN AVE WHITING IN 46394 350883499 5000 0 GENERAL ST JOHN THE BAPTIST CATHOLIC CHURCH 121 CENTER AVE PRAGUE NE 68050 470470077 5000 0 GENERAL ST JOHN THE EVANGELIST CHURCH 20087 HUB DRIVE NEW PRAGUE MN 56071 410695519 5000 0 GENERAL OUR LADY OF VICTORY PARISH 16 SECOND STREET HARVEYS LAKE PA 18618 231714601 5000 0 GENERAL ST WENCESLAUS CHURCH 214 EAST 2ND STREET WAHOO NE 68066 470401237 5000 0 GENERAL ST WENCESLAUS CATHOLIC CHURCH 2343 NAVY AVE BRITT IA 50423 420794363 5000 0 GENERAL CHURCH OF ST WENCESLAUS 215 EAST MAIN ST NEW PRAGUE MN 56071 410695519 5000 0 GENERAL ST WENCESLAUS CATHOLIC CHURCH 207 CHURCH ST SPILLVILLE IA 52132 420703242 5000 0 GENERAL GATE OF HEAVEN CHURCH 40 MACHELL AVE DALLAS PA 18612 240810458 5000 0 GENERAL CHURCH OF THE HOLY GHOST 254 NORTH WOOD DALE RD WOOD DALE IL 60191 362167023 5000 0 GENERAL SAINTS PETER & PAUL PARISH 13 HUDSON RD WILKESBARRE PA 18705 240820955 5000 0 GENERAL VISITATION OF THE BLESSED VIRGIN MARY CHURCH 740 W WALNUT ST MT PLEASANT PA 15666 250969487 5000 0 GENERAL HOLY CROSS ACADEMY 307 SIEBERT RD PITTSBURGH PA 15237 815351479 5000 0 GENERAL KINGS COLLEGE 133 NORTH RIVER ST WILKESBARRE PA 18702 240804602 5000 0 GENERAL ST WENCESLAUS CATHOLIC SCHOOL 108 N LINDEN WAHOO NE 68066 470401237 5000 0 GENERAL ST JOHN NEUMANN SCHOOL 420 CHERRY ST CLARKSON NE 68629 470379004 5000 0 GENERAL CENTRAL CATHOLIC HIGH SCHOOL 4720 FIFTH AVE PITTSBURGH PA 15213 200478989 5000 0 GENERAL MISERICORDIA UNIVERSITY 301 LAKE STREET - MH-232 DALLAS PA 18612 240795406 5000 0 GENERAL ST JOHN NEPOMUCENE SCHOOL 130 FTONT ST WESTON NE 68070 470403977 5000 0 GENERAL ST WENCESLAUS CATHOLIC SCHOOL 227 MAIN ST E NEW PRAGUE MN 56071 410695519 5000 0 GENERAL BYZANTINE CATHOLIC EPARCHY OF PARMA 5000 ROCKSIDE RD SUITE 310 INDEPENDENCE OH 44131 842072147 5000 0 GENERAL ST MICHAEL SLOVAK CEMETERY 605 CHURCH STREET JESSUP PA 18434 272383133 5000 0 GENERAL LITTLE ANGELS CHILD CARE CENTER 312 S 2ND STREET HOWELLS NE 68641 470408255 5000 0 GENERAL SLEEP IN HEAVENLY PEACE 1560 ELDRIDGE AVE TWIN FALLS ID 83301 464346568 5000 0 GENERAL YOUNGSTOWN SISTER CITIES 2634 TAFT AVE YOUNGSTOWN OH 44502 341744632 5000 0 GENERAL CRISIS CENTER FOR SOUTH SUBURBIA PO BOX 39 TINLEY PARK IL 60477 363039964 5000 0 GENERAL SOCIETY OF SAINT VINCENT DE PAUL PO BOX 224 YOUNGSTOWN OH 44503 270223497 5000 0 GENERAL DIOCESE OF JOLIET 16555 WEBER RD CREST HILL IL 60403 362167849 5000 0 GENERAL ST JOSEPH'S CENTER 2010 ADAMS AVE SCRANTON PA 18509 240795689 5000 0 GENERAL SCHOLARSHIPS PROVIDED TO QUALIFYING FRATERNAL MEMBERS. 219 257218 PART I, LINE 2: SCHOLARSHIP RECIPIENTS ARE REQUIRED TO PROVIDE PROOF OF ENROLLMENT AT AN ELIGIBLE EDUCATIONAL INSTITUTION. U.S. ORGANIZATIONS WHO RECEIVE GRANTS ARE REQUIRED TO PROVIDE DOCUMENTATION THAT FUNDS WERE USED FOR THE INTENDED PURPOSE WITH PICTURES OR OTHER EVIDENCE. ORGANIZATIONS WHO RECEIVED GRANTS OF $5,000 OR MORE ARE LISTED ON SCHEDULE I DURING THE CALENDAR YEAR IN WHICH THE GRANTS ARE ACTUALLY PAID. THESE SPECIAL GRANTS ARE TYPICALLY AWARDED QUADRENNIALLY. AN ESTIMATED AMOUNT IS ACCRUED ON AN MONTHLY BASIS OVER A FOUR YEAR PERIOD. THE AMOUNT ON FORM 990, PART IX, LINE 1(A) INCLUDES THE SPECIAL GRANT AMOUNTS THAT WERE ACCRUED DURING THE CURRENT YEAR $150,000), PLUS MISCELLANEOUS OTHER GRANTS PAID IN CASH ($11,600). SCHEDULE I, PART II LISTS THE CURRENT YEAR CASH BASIS AMOUNTS PAID TO EACH ORGANIZATION RECEIVING $5,000 OR MORE. PART III SCHOLARSHIPS INCLUDE AMOUNTS ACTUALLY PAID DURING THE CURRENT YEAR. X X 0 0 0 CYNTHIA MARIA MALESKI NATIONAL,PRESIDENT/CEO 320602 0 0 0 0 0 19279 0 13937 0 353818 0 0 0 KIMBERLY GRAHAM NATIONAL SECRETARY 195451 0 0 0 0 0 10777 0 13937 0 220165 0 0 0 STUART L COLLINS NATIONAL TREASURER 155088 0 0 0 0 0 9332 0 13937 0 178357 0 0 0 PAUL S SMITHERS NATIONAL SALES MANAGER 147524 0 0 0 0 0 9900 0 13937 0 171361 0 0 0 FRANK RANDO CONTROLLER 135519 0 0 0 0 0 8252 0 13937 0 157708 0 0 0 PRATHIMA VADI IT MANAGER 133723 0 0 0 0 0 7856 0 13937 0 155516 0 0 0 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 ACTIONS OF THE BOARD. 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, EXCEPT IN THE LIMITED CIRCUMSTANCES AS SET FORTH IN ARTICLE III A6. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 WILL BE DISTRIBUTED TO BOARD MEMBERS PRIOR TO THE EXTENDED DUE DATE OF THE TAX RETURN. THE PARTNER OF THE ACCOUNTING FIRM WILL REVIEW THE FORM 990 AND ANSWER ANY QUESTIONS BOARD MEMBERS MAY HAVE. FORM 990, PART VI, SECTION B, LINE 12C EVERY DECEMBER, THE NATIONAL SECRETARY DISTRIBUTES CONFLICT OF INTEREST QUESTIONAIRES TO EVERY BOARD MEMBER, OFFICER AND KEY EMPLOYEE TO COMPLETE AND RETURN. FORM 990, PART VI, SECTION B, LINE 15 THE CONVENTION APPROVES THE COMPENSATION FOR THE ASSOCIATION'S ELECTED OFFICERS AS RECOMMENDED BY THE COMPENSATION COMMITTEE AS PER THE BY-LAWS. FORM 990, PART VI, SECTION C, LINE 19 UPON REQUEST, FIRST CATHOLIC SLOVAK LADIES ASSOCIATION (FCSLA) WILL MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE FOR PUBLIC INSPECTION AT FSCLA'S OFFICE. FCSLA WILL ALSO MAKE ITS AUDITED FINANCIAL STATEMENTS AVAILABLE FOR PUBLIC INSPECTION THROUGH THE NATIONAL ASSOCIATION OF INSURANCE COMMISSIONERS OR THE OHIO DEPARTMENT OF INSURANCE. FORM 990, PART IX, LINE 24E POSTAGE AND SHIPPING 261,467. FRATERNAL ACTIVITIES 204,767. COLLECTION & BANK CHARGES 143,180. STATE INSURANCE LICENSING AND FEES 128,031. MATCHING FUNDS TO BRANCHES 125,809. TEMPORARY OFFICE HELP 95,193. MEMBER AWARDS 81,925. TELEPHONE 67,048. SUNDRY GENERAL EXPENSES 59,794. EQUIPMENT RENTAL AND MAINTENANCE 51,593. MEDICAL EXAMS 44,460. BUREAU & ASSOCIATION DUES 38,192. GIFTS & FLOWERS 13,268. BOARD DEVELOPMENT 8,473. CHANGE IN AGGREGATE RESERVES -22,103,857. FORM 990, PART XI, LINE 9: CHANGE IN NONADMITTED ASSETS 83,187. CHANGE IN ASSET VALUATION RESERVE 1,108,812. REALIZED CAPITAL LOSSES TRANSFERRED TO IMR LIABILITY 4,635,172. PART XII, LINE 2C FIRST CATHOLIC SLOVAK LADIES ASSOCIATION'S BOARD OF DIRECTORS CHARTERED AN AUDIT COMMITTEE, WITH SPECIFIC POWERS AND DUTIES RELATING TO FCSLA'S INDEPENDENT AUDIT PROGRAM AND INTERNAL CONTROL PROGRAM. THE COMMITTEE MEETS ON A REGULAR BASIS, AND PROVIDES ACTIVE OVERSIGHT TO FCSLA'S FINANCIAL AND COMPLIANCE ACTIVITIES. THE COMMITTEE IS DIRECTLY RESPONSIBLE FOR THE RECOMMENDATION TO THE FULL BOARD FOR THE APPOINTMENT AND DISMISSAL, EVALUATION, COMPENSATION, AND OVERSIGHT OF FCSLA'S INDEPENDENT ACCOUNTANT, WHICH IS IN CONFORMITY WITH THE ASSOCIATION BYLAWS.