Gbu Financial Life is located in Pittsburgh, PA. The organization was established in 1940. 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 12/2019, Gbu Financial Life employed 51 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes.
For the year ending 12/2019, Gbu Financial Life generated $620.1m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 11.9% each year . All expenses for the organization totaled $589.6m during the year ending 12/2019. While expenses have increased by 12.5% per year over the past 5 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
2019
Describe the Organization's Mission:
Part 3 - Line 1
LIFE INSURANCE, ANNUITIES, FRATERNAL ACTIVITIES AND OTHER BENEFITS TO MEMBERS OF THE SOCIETY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LIFE INSURANCE, ANNUITIES, FRATERNAL ACTIVITIES AND OTHER BENEFITS TO MEMBERS OF THE SOCIETY.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
William W Hunt CEO | OfficerTrustee | 40 | $427,431 |
Timothy King Vp/chief Investment Officer | Officer | 40 | $253,236 |
Matthew M Blistan Jr National Vice President | Officer | 40 | $179,324 |
Douglas A Ulrich Vice President/controller | Officer | 40 | $177,794 |
Deborah L Morgan Vice President Of Operations | Officer | 40 | $177,441 |
Ricardo Rodriguez Hunman Resources Director | 40 | $137,214 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Miller & Newberg Inc Actuarial Services | 12/30/17 | $162,497 |
Wilson Elser Moskowitz Edelman & Dick Legal Services | 12/30/17 | $250,389 |
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 | $471,337,637 |
Investment income | $149,272,386 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $124,222 |
Net Gain/Loss on Asset Sales | -$595,443 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $620,138,802 |
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 | $565,284,066 |
Compensation of current officers, directors, key employees. | $1,606,728 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $2,720,476 |
Pension plan accruals and contributions | $1,654,507 |
Other employee benefits | $446,770 |
Payroll taxes | $172,321 |
Fees for services: Management | $0 |
Fees for services: Legal | $187,842 |
Fees for services: Accounting | $728,294 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $326,390 |
Advertising and promotion | $78,560 |
Office expenses | $1,228,021 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $292,215 |
Travel | $149,838 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $275,309 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $362,094 |
Insurance | $94,702 |
All other expenses | $0 |
Total functional expenses | $589,557,885 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $26,870,914 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $0 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $0 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $0 |
Net Land, buildings, and equipment | $890,203 |
Investments—publicly traded securities | $2,964,905,782 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $97,181,255 |
Total assets | $3,089,848,154 |
Accounts payable and accrued expenses | $0 |
Grants payable | $0 |
Deferred revenue | $70,146 |
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 | $2,860,099,974 |
Total liabilities | $2,860,170,120 |
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 | $229,678,034 |
Total liabilities and net assets/fund balances | $3,089,848,154 |
Organization Name | Assets | Revenue |
---|---|---|
Gbu Financial Life Pittsburgh, PA | $3,089,848,154 | $620,138,802 |
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