Catholic Life Insurance
- Assets
- $1.3b
- Revenue
- $118.8m
- Investments
- $21.1m
- Employees
- 72
- Location
- San Antonio, TX
- Founding
- 04/1969
- Data as of
- 12/2021
- EIN
- 74-0548665
Organization Overview
Catholic Life Insurance is located in San Antonio, TX. The organization was established in 1969. According to its NTEE Classification (Y40) the organization is classified as: Fraternal Societies, under the broad grouping of Mutual & Membership Benefit and related organizations. As of 12/2021, Catholic Life Insurance employed 72 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes. Catholic Life Insurance is a 501(c)(8) and as such, is described as a "Fraternal Beneficiary Society and/or Association" by the IRS.
For the year ending 12/2021, Catholic Life Insurance generated $118.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.6% each year. All expenses for the organization totaled $113.8m during the year ending 12/2021. While expenses have increased by 1.0% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
CATHOLIC LIFE INSURANCE IS A FRATERNAL BENEFIT SOCIETY THAT OFFERS LIFE INSURANCE, RETIREMENT PRODUCTS AND MEDICARE SUPPLEMENT INSURANCE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CATHOLIC LIFE INSURANCE IS A FRATERNAL BENEFIT SOCIETY THAT OFFERS LIFE INSURANCE, RETIREMENT PRODUCTS AND MEDICARE SUPPLEMENT INSURANCE.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joseph Michael Belz President/ceo | OfficerTrustee | 38.5 | $615,558 |
John Michael Luksa Svp/director Of Sales | Officer | 38.5 | $218,461 |
Colleen Z Berger Svp/cfo | Officer | 38.5 | $212,229 |
Michael A Nance Vp/treasurer | Officer | 38.5 | $174,036 |
Scott D Brant Svp/information Technologies | 38.5 | $168,317 | |
Frank Gentile Svp/chief Underwriter | 38.5 | $163,184 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Wellington Management Co Llp Investment Mgmt | 12/30/21 | $751,040 |
Eugene Smart Independent Agent | 12/30/21 | $520,848 |
Allen Bailey Associates Inc Actuarial Services | 12/30/21 | $371,286 |
Sapiens Americas Corporation Consulting | 12/30/21 | $284,960 |
The Sabinal Group Construction | 12/30/21 | $273,085 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $64,475,003 |
| Investment income | $51,661,469 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$655,309 |
| Net Gain/Loss on Asset Sales | $2,412,846 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $118,816,051 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $81,562,219 |
| Compensation of current officers, directors, key employees. | $1,693,305 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,303,388 |
| Pension plan accruals and contributions | $197,966 |
| Other employee benefits | $675,671 |
| Payroll taxes | $339,997 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $17,201 |
| Fees for services: Accounting | $686,697 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,098,107 |
| Fees for services: Other | $128,640 |
| Advertising and promotion | $325,612 |
| Office expenses | $967,655 |
| Information technology | $242,163 |
| Royalties | $0 |
| Occupancy | $171,689 |
| Travel | $58,134 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $555,804 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $459,021 |
| Insurance | $122,782 |
| All other expenses | $0 |
| Total functional expenses | $113,840,701 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $26,287,821 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $12,552,940 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $5,548,884 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $5,936,998 |
| Investments—publicly traded securities | $1,188,162,242 |
| Investments—other securities | $21,142,012 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $173,274 |
| Total assets | $1,259,804,171 |
| Accounts payable and accrued expenses | $1,806,857 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,149,013,105 |
| Total liabilities | $1,150,819,962 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,259,804,171 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Catholic Life Insurance San Antonio, TX | $1,259,804,171 | $118,816,051 |
Slavonic Benevolent Order Of The State Of Texas Temple, TX | $250,843,424 | $37,911,844 |
Hermann Sons Life San Antonio, TX | $261,680,338 | $23,747,654 |
Catholic Union Of Texas The Kjt La Grange, TX | $104,398,388 | $13,305,879 |
Kjzt Family Life Austin, TX | $164,643,389 | $13,170,314 |
Scottish Rite Educational Association Of Texas Austin, TX | $15,247,612 | $5,200,101 |
Sivalls Inc And Control Equipment Inc Medical Plan Trust Odessa, TX | $465,939 | $3,039,609 |
San Antonio Police Officers Association Inc San Antonio, TX | $3,073,452 | $2,645,265 |
Knights Of Peter Claver New Orleans, LA | $3,522,649 | $1,821,465 |
Order Of The Alamo San Antonio, TX | $410,612 | $959,299 |
The Scottish Rite Learning Center Of West Texas Lubbock, TX | $7,376,055 | $134,513 |
Ancient & Accepted Scottish Rite Of Free Masonry So Juris Usa Houston, TX | $13,839,072 | $459,966 |