Gbu Financial Life
- Assets
- $3.1b
- Revenue
- $620.1m
- Investments
- $0.0
- Employees
- 51
- Location
- Pittsburgh, PA
- Founding
- 11/1940
- Data as of
- 12/2019
- EIN
- 25-0502660
Organization Overview
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.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| 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 |
Outside Vendors & Contractors
| 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 |
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 | $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 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Gbu Financial Life Pittsburgh, PA | $3,089,848,154 | $620,138,802 |
National Slovak Society Of The Usa Mcmurray, PA | $1,211,903,955 | $206,639,531 |
Law Enforcement Health Benefits Inc Philadelphia, PA | $83,644,424 | $147,508,190 |
First Catholic Slovak Ladies Assoc Of The Usa Cleveland, OH | $1,029,596,800 | $101,017,104 |
William Penn Association Pittsburgh, PA | $486,387,214 | $58,480,210 |
The Actors Fund Of America New York, NY | $107,588,382 | $38,505,624 |
Loyal Christian Benefit Association Erie, PA | $199,213,934 | $39,151,330 |
Isda Fraternal Association Pittsburgh, PA | $146,973,858 | $35,772,250 |
First Catholic Slovak Union Of The United States & Canada Independence, OH | $416,524,510 | $42,713,057 |
Ladies Of Co Inc Catholic Gahanna, OH | $129,495,147 | $21,769,157 |
United Transportation Union Insurance Association North Olmsted, OH | $230,030,347 | $21,723,855 |
Order Of United Commercial Travelers Of America Columbus, OH | $14,062,904 | $17,347,148 |