Fraternity-Testvériség, 1975 (53. évfolyam, 1-12. szám)
1975-04-01 / 4-6. szám
CONTROLLER’S REPORT IMPORTANT Information to Policyholders of THE HUNGARIAN REFORMED FEDERATION OF AMERICA Never! Never! Let This Happen To Your Policy Or Certificate NEVER — Surrender Or Lapse Your Policy: —It is a vital part of your assured estate —It increases in value with each paid premium (Term Insurance excepted) —It is a permanent protection for its beneficiary NEVER — Drop Your Policy To Take A New One: —You cannot replace it at the same age premium Rate —You cannot replace it without an additional annual cost POSSIBLY NOT AT ALL in case of an occupational hazard or physical impairment. THE HUNGARIAN REFORMED FEDERATION OF AMERICA Is Under Strict State Supervision: —Your policy has been approved by Insurance Departments where Company is licensed. —Your Company’s assets and reserves back of your policy must be maintained in accordance with State Insurance Department Regulations. WE— —Recommend that you as an owner of a legal reserve contract keep your policy in force by paying premiums promptly. —Know of no plan other than Insurance that offers both immediate funds for the beneficiary in case of premature death or a cash fund (Term Insurance excepted) for the owner at retirement age, which in effect, adds to the owner’s Social Security or other retirement program. —Warn against being influenced by idle gossip or uninformed advice. Your Company can best answer your questions. —Advise you to contact your company or its representative should necessity create premium payment problems. IN ALL SINCERITY If we are helpful in any way in your keeping your policy in force at all times, we will indeed be gratified; as we know there will come a day when you will say, “I’m Grateful I Did”. CALL OUR LOCAL REPRESENTATIVE! Find their names, addresses and telephone number on the last page of this magazine. for the year of 1974. (Excerpts) Mr. President, distinguished Members of the Board: I respectfully submit my report for the year 1974 as required by paragraph 46. of our by-laws. I. ACCOUNTING A) INCOME AND DISBURSEMENT BY FUNDS INCOME US. A. Canada 1. Consolidated Fund ......................................................$2,340,298.51 $ 60,668.11 2. Sick Benefit Fund ........................................................ 15,774.95 68.29 3. Hospitalization Fund ................................................... 32,779.96 34.62 4. Overremittances ............................................................ 27,110.46 — 5. Bethlen Home Contribution ....................................... 24,000.00 — 6. Mortgage Payments .................................................... 832,050.10 17,044.14 7. Certificate Loan Payments ........................................... 96,411.12 1,619.03 8. Bonds Sold .................................................................... 284,885.89 10,000.00 9. Retirement Benefit Fund ............................................. 33,559.62 —10. Real Estate Sold .......................................................... 187,995.69 — 11. Change of Book Value of Bonds................................. 6,841.26 — 12. Profit on Bonds Sold .................................................. 39.24 5.39 13. Rent Income .................................................................. 25,706.46 — 14. Trust Fund of Unpaid Claims ..................................... 48,036.98 — 15. Fund Held in Escrow .................................................. 13,901.26 — Total...............................................................................$3,969,391.50 $ 89,439.58 Balance from 1973 ............................................... 185,114.06 42,337.91 TOTAL INCOME ........................................................$4,154,505.56 $131,777.49 DISBURSEMENTS 1. General Expenses ........................................................$ 705,538.07 $ 25,905.68 2. Consolidated Fund ...................................................... 1,167,481.01 14,608.07 3. Sick Benefit Fund ........................................................ 6,380.09 150.00 4. Hospitalization Fund .................................................... 25,442.95 — 5. Shortage of Branches ................................................... 30,860.16 — 6. New Certificate Loan ................................................... 97,672.74 3,287.00 7. Bonds Purchased .......................................................... 581,319.89 24,781.62 8. Accrued Interest .......................................................... 716.12 77.23 9. New Mortgage Loans .................................................... 1,040,257.94 — 10. Real Estate Acquired ................................................... 158,231.50 — 11. Bethlen Home Dues Forwarded ............!................... 24,000.00 — 12. Retirement Benefit Paid ............................................. 12,828.36 — 13. Real Estate Expenses ................................................... 33,397.22 — 14. Investment Expenses ................................................... 60,522.79 — 15. Trust Fund of Unpaid Claims..................................... 84,327.28 — 16. Profit and Loss on Sale of Real Estate ........................... 17,100.64 — 17. Cash - Savings Account ..................................................... — 25,000.00 Total $4,046,076.76 $ 93,809.60 BALANCE FOR 1975 108,428.80 37,967.89 19
