2024-06-11T10:28:33-07:00 2023-12-31 990 2023-01-01 420594470 BETTERLIFE BETT 6088331936 6522 Grand Teton Plaza Madison WI 53719 Derek Metcalf CFO 6088246045 2024-06-11 Derek Metcalf 999009999 1 1 11 0 AAL2 X 2023 2023-04-26 12:10:37Z Christopher Campbell 6522 Grand Teton Plaza Madison WI 53719 64263803 0 0125 X www.betterlifeins.com X 1897 WI Fraternal Benefit Society - As a fraternal benefit insurance society, our mission is to help our members protect their families' financial futures, build better lives, and better their communities. 9 8 108 25148 0 0 0 0 51179407 64263803 0 0 0 0 51179407 64263803 0 0 32161576 37057636 7767883 8127033 0 0 0 22824798 24550276 62754257 69734945 -11574850 -5471142 622297981 603847920 552282652 539054123 70015329 64793797 Fraternal Benefit Society - As a fraternal benefit insurance society, our mission is to help our members protect their families' financial futures, build better lives, and better their communities. 0 0 1427975 0 0 FRATERNAL ACTVITIES AND PROGRAMS - BetterLife provides quarterly funding to fraternal groups, varying in amount. Additionally, volunteers may receive cash awards for their efforts. Funds support various initiatives: A. Community Benefit: BetterLife members organize projects aiding scholarship programs, blood drives, and more. B. Fundraisers and Matching Funds: Grants are offered for fundraising events supporting members in need. C. Family Activities: Events like picnics and holiday parties foster family bonds. D. Educational Leadership: Seminars train volunteers for community outreach. E. Patriotic Programs: Support for Flag Day observances, veteran and school initiatives. F. Fraternal Support: Activities maintaining group cohesion and development. G. Fraternal Services: Resources for national mission implementation. 2023 Statistics for A-G: $244,065 Activity Payments; 975 Events; 31,242 Volunteer Hours; $41,315 Corporate Donations; $236,061 Fundraising Funds Raised; $14,184 Fundraising Funds Matched by BetterLife. FRATERNAL BENEFIT PROGRAM: BetterLife offers non-contractual fraternal benefits to members at no extra cost, alongside their life insurance coverage: A. Disaster Benefit: Grants of up to $1,500 for expenses incurred from natural disasters. B. Health Benefit: Grants of up to $1,500 for specific disease expenses. C. Family Fraternal Benefit: Includes newborn death benefit and guaranteed insurance. D. Family Benefit: Offers ten $1,000 awards yearly for various family expenses. E. Member Magazine: Quarterly publication covering member activities and services. F. Orphan Income Benefit: Monthly allowance for orphan care until age 18. G. Orphan Scholarship Benefit: Up to $3,000 yearly for orphaned child education. H. National Scholarship Program: Awards scholarships to young members involved in community service. I. Members in Action: Grants up to $200 twice yearly for local service projects. 2023 Statistics for A-I: $0 (A), $12,000 (B); $0 (C); $10,000 (D); $108,331 (E); $16,900 (F); $0 (G); $68,000 (H); $5,950 (I). LODGE SYSTEM: BetterLife operates through local fraternal lodges known as Member Groups. Each member belongs to a specific group, which hosts planning meetings, biennial elections, and conducts activities within an assigned area. These groups adhere to Society bylaws and organize various benevolent, charitable, educational, and patriotic initiatives within their communities. 68306970 0 0 INSURANCE ACTIVITIES: The primary purpose of the insurance activities of BetterLife is to accomplish the tax-exempt purpose of the fraternal benefit society rather than to produce income. Number of members: 57,324 0 0 0 69734945 0 0 0 0 0 0 0 1 0 1 0 1 0 1 0 1 0 0 0 1 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 0 0 1 108 1 0 0 0 0 0 0 0 0 X 9 8 0 0 0 0 1 1 0 1 1 1 1 1 1 1 1 1 1 1 1 1 0 CA IN X Derek Metcalf 6088246087 6522 Grand Teton Plaza Madison WI 53719 Daniel L Shinnick CEO/Board Chair/Chief Member Advocate/Independent Director 22 0 X X 372461 0 65064 Craig A Van Dyke President/Chief Investment Officer 40 0 X X 364162 0 60108 Christopher Campbell Board Chair/CEO/President 40 0 X X 315824 0 41903 Angel L Thomas SVP-Member Experience 40 0 X 178152 0 62171 Donald M Nieland SVP-IT/Secretary 40 0 X 172247 0 58805 David J Schlesser VP-National Sales 40 0.25 X 164536 0 34681 Phyllis A Heleniak VP-Direct to Consumer 40 0 X 178464 0 10460 Jenna M Dunker SVP-Finance and Treasurer/SVP-Strategic Initiatives 40 0.5 X 159508 0 27496 Rebecca K Lureen Manager-Independent Sales 40 0.5 X 171774 894 5566 Michelle M Maffet VP-Member Services 40 0 X 130479 0 21434 Zachary J Snell Director-Member and Community Engagement 40 0 X 102717 0 16459 Nicolas O McCullick Director-Management Support Services 40 0 X 107019 0 6954 David G Sobczak Director-Sales Training and Support 40 0 X 103908 0 5857 George F Yanna Former Director 0 0 X 62532 0 0 John T McHugh Jr Independent Director 5 0 X 56646 0 0 Mary K Bradley Independent Director 4 0 X 43158 0 0 Nancy Nelson Heykes Independent Director 4 0 X 43158 0 0 Michael S Hosek Independent Director 4 0 X 43158 0 0 Duane J Jirik Independent Director 4 0 X 43158 0 0 Maureen O'Hern Hahn Independent Director 4 0 X 43158 0 0 Brenda L Stone Sullivan Independent Director 4 0 X 43158 0 0 Maria Ferrante-Schepis Independent Director 4 0 X 43158 0 0 Thomas R Johnson Former Director 0 0 X 40000 0 0 John E Rashke Former Director 0 0 X 34625 0 0 Derek J Metcalf CFO 40 0.5 X 24138 0 724 3041298 894 417682 13 1 1 0 Ipipeline Inc 222 Valley Creek Boulevard Suite 300 Exton PA 19341 Technology Vendor 889107 Asset Allocation & Management Inc 30 West Monroe Street 3rd Floor Chicago IL 60603 Investment Managers 477119 Griffith Ballard & Company 100 1st Ave NE Ste 117 Cedar Rapids IA 52401 Actuarial Consultants 280509 Paradigm Partners International LLC 1158 26th Street Suite 550 Santa Monica CA 90403 Strategy Consultants 231115 Louie Caballero 12069 Paseo De Amor Lane El Paso TX 79936 Independent Agent 158712 11 0 Investment Income 524113 29064379 29064379 0 0 Insurance Premiums 524113 27690004 27690004 0 0 Miscellaneous Income 524113 3131099 3131099 0 0 Realized Capital Gains 524113 2144069 2144069 0 0 Amortization of IMR 524113 1011433 1011433 0 0 1222819 1222819 0 0 64263803 0 0 0 0 0 64263803 64263803 0 0 0 0 0 37057636 2814522 0 3885185 342031 586478 498817 0 200320 537590 0 0 602917 380121 249759 1321116 775506 0 350004 241191 0 28041 0 0 264127 139909 Remittance of Investment Income on Funds Withheld 11145774 Amortization of Annuity Reinsurance Ceding Commission 3126511 Commissions/Fieldworkers Expense 1764260 Change in Asset Valuation Reserve 1572345 1850785 69734945 0 0 0 -847847 -2034762 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 2488224 1905288 603307 582936 0 0 0 0 607577149 587187282 0 0 14965372 18112464 622297981 603847920 793001 1374017 0 0 227350 233986 0 0 43325 46536 0 0 0 0 0 0 551218976 537399584 552282652 539054123 X 0 0 0 0 70015329 64793797 70015329 64793797 622297981 603847920 -5471142 -587972 0 0 837582 0 X 0 1 X 1 0 0 1 X 0 476000 476000 0 2012224 1905288 106936 0 0 0 0 0 0 0 0 0 0 0 0 582936 Bonds and Surplus Debentures 528081212 C Mortgage Loans 34352680 C Cash Equivalents 11866905 F Contract Loans 6992381 C Common Stock 5894104 F 587187282 0 Reserves - Life, Annuity, A&H 330901454 Funds Withheld Under Reinsurance Treaties 167768166 Liability for Deposit-Type Contracts 19813981 Asset Valuation Reserve 7780436 Deferred Compensation Reserve 3113604 Post-Retirement Benefit Reserve 2375296 Contract Claims Life & A&H 1817635 Payables for Securities 1134623 Refund Payable - Not yet apportioned 1041384 Escheat Items 770818 Remittances & Items not allocated 483369 Interest Maintenance Reserve 239259 Ceded Reinsurance Payable 149374 Fieldworker Credit Balances 10185 537399584 62090629 -587971 0 0 0 -587971 62678600 1585203 0 1585203 64263803 68149742 0 0 0 0 0 68149742 1585203 0 1585203 69734945 Schedule D, Part IV, Line 2b Branch/lodge funds obtained by closing unused branch/lodge bank accounts are held by BetterLife to be used for other fraternal activities. Central America and the Caribbean 0 0 Investments 23723716 Europe (including Iceland and Greenland) 0 0 Investments 22130062 North America (including Canada and Mexico, but not the United States) 0 0 Investments 15072560 East Asia and the Pacific 0 0 Investments 7388079 Middle East and North Africa 0 0 Investments 2555098 0 0 70869515 0 0 0 0 0 0 X X 0 1 X X X X 1 0 0 Daniel L Shinnick CEO/Board Chair/Chief Member Advocate/Independent Director 284245 0 52390 0 35826 0 48900 0 17221 0 438582 0 0 0 Craig A Van Dyke President/Chief Investment Officer 317046 0 45643 0 1473 0 40568 0 20886 0 425616 0 0 0 Christopher Campbell CEO 261685 0 53637 0 502 0 35627 0 7425 0 358876 0 0 0 Angel L Thomas SVP-Member Experience 164146 0 13689 0 317 0 31906 0 31830 0 241888 0 0 0 Donald M Nieland SVP-IT/Secretary 157763 0 13163 0 1321 0 31623 0 28865 0 232735 0 0 0 David J Schlesser VP-National Sales 159445 0 3467 0 1624 0 9720 0 26729 0 200985 0 0 0 Phyllis A Heleniak VP-Direct to Consumer 162700 0 15210 0 554 0 10460 0 1737 0 190661 0 0 0 Jenna M Dunker SVP-Finance and Treasurer/SVP-Strategic Initiatives 145832 0 13163 0 513 0 16020 0 12979 0 188507 0 0 0 Rebecca K Lureen Manager-Independent Sales 157443 894 14266 0 65 0 5566 0 529 0 177869 894 0 0 Michelle M Maffet VP-Member Services 118539 0 11213 0 727 0 7961 0 14797 0 153237 0 0 0 George F Yanna Former Director 0 0 0 0 62532 0 0 0 90 0 62622 0 0 0 Thomas R Johnson Former Director 0 0 0 0 40000 0 0 0 0 0 40000 0 0 0 John E Rashke Former Director 0 0 0 0 34625 0 0 0 0 0 34625 0 0 0 Schedule J, Part I, Line 1a Social club dues and a personal trainer were paid for one officer/director in 2023. Schedule J, Part I, Line 1b All expenses are reviewed by an officer of the Society. Schedule J, Part I, Line 3 BetterLife determines CEO compensation through a structured process managed by a board-appointed compensation committee. The committee conducts an annual review of the CEO's compensation along with that of other key officers in the organization. They draw from a variety of resources, including external salary surveys of similar fraternal benefit societies, local data for comparable positions, and broader economic factors like cost of living and inflation rates. The committee also considers the society's performance and financial health when making their assessments. Additionally, BetterLife leverages specialized compensation software and expert consultants to provide deeper insights and analysis. This includes reviewing short-term and long-term incentive plans to ensure they are competitive and align with industry standards. Once the compensation committee has developed its recommendations, these are presented to the full board of directors for approval or modification. The board ensures that the final decisions on CEO compensation are fair and align with the organization's goals and values. Schedule J, Part I, Line 4 One current officer/director received severance payments in 2023 after termination with the company during the year. Form 990, Part VI, Section A, Line 6 BetterLife is a fraternal benefit insurance society and is therefore owned by its policyholder members. Form 990, Part VI, Section A, Line 7a BetterLife members elect four of the eight total directors every two years, with the exception of 2024, when all eight are up for election. Form 990, Part VI, Section A, Line 9 Nancy Nelson Heykes PO Box 6, Hazelhurst, WI 54531; John T McHugh Jr. 5702 State Hwy 71, Sparta, WI 54656; Maureen O'Hern Hahn 4 Meadowbrook Lane, Appleton, WI 54914; Brenda L Stone Sullivan 866 Hyland St, Wonewoc, WI 53968; Duane J Jirik 1006 3rd St NE, New Prague, MN 56071; Michael S Hosek 5747 Harding Dr, Lincoln, NE 68521; Mary K Bradley PO Box 432, Frankfort, MI 49635; Maria Ferrante-Schepis 2008 Aiken Court, McKees Rocks, PA 15136; Daniel L Shinnick 8982 Domini Rd, Mt. Horeb, WI 53572; Craig A Van Dyke N2697 Johns Lake Rd, Wautoma, WI 54982; Donald M Nieland 8201 Mayo Dr No. 406, Madison, WI 53719; Phyllis A Heleniak 920 Tipperary St, Giberts, IL 60136. Form 990, Part VI, Section B, Line 11b The accounting department completed the Form 990 and gave a copy to the CFO and the SVP-Strategic Initiatives to review. Following the review by the CFO and the SVP-Strategic Initiatives, the CEO was given a copy to review. The completed 990 was provided to the Directors who confirmed their review of the document. Form 990, Part VI, Section B, Line 12c Conflict of interest questionnaires are required from all officers, directors and key employees annually stating any conflict they may have. If there are any stated, the governing body determines any needed action. Form 990, Part VI, Section B, Line 15 A board-appointed compensation committee annually reviews the compensation of the CEO along with the other officers of the organization. Outside salary surveys of similar fraternal benefit societies, data concerning similar positions in the area, the performance and financial status of the society, general cost of living/inflation increases, and general economic conditions are taken into consideration. The recommendations of the compensation committee are then considered by the full board of directors and are either approved or modified. Information regarding the positions to which this process applies and the latest review periods follow: CEO/Board Chair/Chief Member Advocate/Independent Director - 3/2023, President/Chief Investment Officer - 3/2023, CEO - 6/2023, CFO - 11/2023, SVP-Finance and Treasurer/SVP-Strategic Initiatives - 11/2023, VP-Member Services - 3/2023, SVP-Member Experience - 3/2023, VP-Direct to Consumer - 3/2023, SVP-IT/Secretary - 3/2023, VP-National Sales - 5/2023. Form 990, Part VI, Section C, Line 19 The governing documents are filed with our state of domicile (Wisconsin) when any changes are made, published periodically in our official publication, BetterLife magazine, and available upon request. The financial statements are published annually in BetterLife magazine and are filed quarterly with the NAIC and with the states that require them. The conflict of interest policy is available upon request. NMB Services Inc 6522 Grand Teton Plaza Madison WI 53719 391826998 Specialty Membership Services WI BetterLife C 22971 61591 1 1 National Mutual Benefit Corporate Agency Inc 6522 Grand Teton Plaza Madison WI 53719 391503828 Insurance Broker WI BetterLife C 27030 17610 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 0 0