Fraternity-Testvériség, 1996 (74. évfolyam, 1-4. szám)
1996-04-01 / 2. szám
FRATERNITY Page 7 FROM THE TREASURER'S OFFICE HUNGARIAN REFORMED FEDERATION of AMERICA FINANCIAL REPORT - DECEMBER 31,1995 For the year 1995, the Federation fared very well. Our admitted assets increased and the liabilities decreased. Our lapse ratio decreased, and the number of surrenders also substantially decreased. Our profit from operations was $193,163. The Federation enjoys a healthy, strong and solvent financial position. We are able to meet all present and future obligations. The Federation was founded as a fraternal life insurance society in 1896. For the last 100 years, it has shown consistent financial stability. ASSETS Bonds $18,552,611 Mortgage Loans on Real Estate 2,666,070 Real Estate Occupied by Society 951,037 Certificate Loans and Liens 317,322 Cash on Hand and on Deposit 460,222 Investment Income Due and Accrued 539,481 Premiums Collected Not Yet Remitted _ 12,797 TOTAL ASSETS $23,499,540 LIABILITIES Aggregate Reserve for Life Certificate $12,455,783 Aggregate Reserve for Accident and Health Certificates 60,824 Certificate-Contract Claims 51,077 Premiums Received in Advance 122,466 Commissions Due to Field Workers 6,516 General Expenses Due and Accrued 100,906 Adjustment Due to Foreign Exchange Rates 189,211 Liabilities for Employees Benefits 1,246,465 Interest Maintenance Reserve 310,230 Asset Valuation Reserve 360,520 Aggregate Write-Ins for Liabilities 215,125 TOTAL LIABILITIES $ 15,119,123 UNASSIGNED FUNDS - SURPLUS $8,358,567 KEY INDICATORS Assets $23,499,542 New Insurance Written 1,943,000 Insurance in Force 45,034,000 Certificates in Force 15,765 Investment Income 1,348,021 Investment Yield (%) 5.9 Solvency Ratio 155.2 Unassigned Funds - Surplus 8,358,567 Mortality Rate Experience 52.5 Dues Income 595,365 BENEFITS PAID TO MEMBERS Death $368,070 Matured 217,449 Surrender 230,881 STUDENT AID and LOAN FUND FINANCIAL STATUS - DECEMBER 31,1995 Balance on Checking Account 12/31/1994 $ 6,305.35 Income in 1995 14,238.73 Disbursements 15,355.50 Balance 12/31/1995 $5,188.58 STUDENT AID INVESTMENTS INCLUDE: Bonds: Pacific Bell (7.0%) $60,000 U.S. Leasing International (7.2%) 40,000 Suzanne S. Virgulák ATTENTION MEMBERS In conjunction with our 100th anniversary, we offer $3,000 extra life insurance to our members up to age 70. Members who wish to add extra insurance to their present policies, please call the local agent or the Secretary at the Home Office at (202) 328-2630.
