Fraternity-Testvériség, 1974 (52. évfolyam, 1-12. szám)
1974-07-01 / 7-9. szám
REPORT OF THE PRESIDENT to the BOARD OF DIRECTORS of The Hungarian Reformed Federation of America for the year of 1973. Distinguished Members of the Board: Dear Brethren: It is not an easy task to bring the accounts of a year past. Especially if we consider the circumstances, obstacles, difficulties, the energy crisis, the uncertain social, political and economic conditions on one side, and if we take into consideration on the other side the fact that the Hungarian Reformed Federation of America is a large and influential fraternal organization, a business enterprise with tremendous responsibilities and a hundredfold of tasks having more than thirty thousand members, 17 million dollar assets, 50 million dollar insurance in force, its Washington head office, its charitable organizations: Home for the Children and Home for the Aged. Today the task of leading, preserving and guiding of this institution is a formidable task and responsibility as we have to increase, develop its assets and we have to give the best possible service to its membership. We have a strong faith, however, that whom God calls to his service and to whom He entrusts leadership and places the burden and responsibility on his shoulder, to him He gives the necessary strength to fulfill the responsibilities, to carry the burdens and to execute the job to be done. Our first word should be the word of thanksgiving to our Almighty God, who maintained us and gave us strength to carry out our difficult duties even under the stress of the contemporary difficult conditions. Whether the results of our labors are satisfactory in the several areas of our Federation’s life the members of this Board will have to judge during these reports. We dare to say, however, that in faithful compliance with our solemn oath, with our best talents and capabilities, even many times at the risk of our health, we tried to do the best possible job for our common treasure: The Hungarian Reformed Federation of America. And I say that not only us, the Executive Officers, but also the members of our Board, our district, section and branch managers have given their utmost to this aim. With the help of God, it is due this effort that we have been able to achieve results in most areas of our work during the past very difficult year and we can say with assurance and out of the grace of God that our Federation rests on firm foundations. We have fulfilled all our financial obligations as soon as possible in 100%. Following this introduction, I wish to state the most important statistical information concerning the past year, to present our program and plans for the coming year in a shorter form than I have done so in the past. Detailed information will be provided by the Executive Officers of the different departments. In my presidential report, I will mention the following items to enable us to form a general picture and to be able to formulate our policy and plans for the next year. 1. The assets of our Federation: December 31, 1972 ................... ......$17,148.070.09 December 31, 1973 ................... ......$17,518,156.66 Increase ............................. ......$ 370,086.57 2. Insurance in force: December 31, 1972 ................... ......$49,920,242.00 December 31. 1973 ................... ......$49,900,058.00 Decrease ............................. ......$ 20,184.00 3. Investment income: In 1972 ....................................... ......$ 811,489.95 In 1973 ....................................... ......$ 853,891.19 Increase ............................. ......$ 42,401.24 4. Ratio of investment income: In 1972 ....................................... 4.91% In 1973 ....................................... 5.06% 5. Valuation ratio: In 1972 ....................................... 113.45% In 1973 -................ 113.29% 6. The number of deceased: In 1972 ........................................ 390 In 1973 ........................................ 384 7. We paid in death benefits: In 1972 ....................................... .....$ 431,116.63 In 1973 ....................................... ......$ 431,834.00 8. Mortality experience: In 1972 ........................................ 52.5% In 1973 ....................................... .... 50.5% * * * 1. We held district meetings in every district. In several districts we have also had a fraternal banquet, in New Brunswick, Pittsburgh and Cleveland there was a baU, in Chicago a special program. These social affairs have had not only promotional values, but they were also profitable, our Student Aid Fund and the Bethlen Home benefited by them. 13
