William Penn Life, 1999 (34. évfolyam, 2-12. szám)
1999-04-01 / 4. szám
William Penn Association 1998 Annual Statement Financial Report ASSETS Bonds $109,376,046 Stocks 10,992,234 Mortgage Loans 625,047 Real Estate : 2,580,187 Certificate Loans 1,439,702 Electronic Data Processing Equipment 49,934 Cash and Short-Term Investments 2,236,424 Premiums Due and Uncollected Life 10,377 Accident & Health 164 Accrued Investment Income 2,051,207 Total Admitted Assets $129,361,322 LIABILITIES, SPECIAL RESERVES AND SURPLUS CERTIFICATE RESERVES Life, Accident & Health and Supplementary Contracts Without Life Contingencies, Policy Reserves $96,712,786 Life and Accident & Health Claim Reserves 292,879 Refund (Dividend) Accumulations 5,195,639 Provision for Refunds Payable in Following Calendar Year 400,000 Premiums Paid in Advance 373,726 Officials’ (Directors’) Retirement Program 885,632 Interest Maintenance Reserve 2,061,948 Commissions, Taxes, General Expenses Due or Accrued 35,236 Asset Valuation Reserve 1,363,197 Trust Account 944,694 Other Liabilities 214,148 Total Liabilities $108,479,885 Unassigned Surplus 20,881,437 Total $129,361,322 INCOME Premiums & Annuity Considerations $4,759,513 Considerations for Supplementary Contracts Without Life Contingencies and Refund Accumulations 362,682 Net Investment Income 8,863,527 Amortization of Interest Maintenance Reserve 123,308 Miscellaneous Income 6,303 Total Income $14,115,333 OUTGO Life Benefits Paid, Including Dividends $5,510,212 Annuity and Pension Benefits Paid 2,939,811 Increase in Aggregate Reserve for Life, Accident & Health Certificates, Supplementary Contracts Without Life Contingencies and Refund Accumulation 1,234,166 Commissions on Premiums & Annuity Considerations 174,783 General Operating and Fraternal Expenses 2,801,457 Insurance Department Licenses, Taxes & Fees 75,939 Total Outgo & Reserve Increase $12,736,368 Net Gain from Operations after Refunds to Members$1,378,965 RECONCILIATION Net Gain from Operations $1,378,965 Realized Losses (excluding transfers to the IMR) (7,932) Net Income $1,371,033 Unassigned Funds as of 12/31/97 18,436,491 Unrealized Losses (170,962) Net Admitted Gains 733,730 Asset Valuation Reserve 511,106 Special Reserves 39 Unassigned Funds as of 12/31/98 $20,881,437 William Penn Lile, April 1999 9 On behalf of the Board of Directors, National Officers, Home Office staff and our sales representatives, we extend our thanks and appreciation to the following members who recommended new lifebenefit members, to whom policies were issued between Jan. 1 and March 31,1999: 1 Anne B. Ason -1 Dorothy K. Balint -1 Ronald S. Balia -1 Antoinette M. Garofalo -1 Helen Gosciewjew -1 Donna M. Griffin -1 Malvene Harris -1 David J. Hősek -1 Robert W. Kreisel -1 Helen M. Krut -1 Dolores Lowe -1 Mark S. Mazzagatti -1 Anna M. Prindle -1 George E. Reeger- 2 I Jamie A. Rigney - 4 Brandi A. Schneider - 1 I Elijah Stadler -1 I Vera F. Szőke -1 Anna Szukics -1 Andrew A. Teschke -1 E. E. Vargo - 1 Betty J. Vedro -1 Helen H. Walters - 2 Louis J. Wassermann -1 Helen J. Werling - 2 Certificates Issued = 31 Face Value of Insurance = $447,000.00 Premiums = $7,892.37
