Fraternity-Testvériség, 1993 (71. évfolyam, 1-4. szám)

1993-01-01 / 1. szám

Page 12

TESTVÉRISÉG

HUNGARIAN REFORMED FEDERATION AMERICA FINANCIAL REPORT - DECEMBER 31, 1992 ANNUAL STATEMENT

For the year 1992, the Federation fared very well. Our Admitted Assets increased $324,072; the Solvency Ratio reached 154.0 per $100 of Liabilities and the

Liquidity Ratio was 118.5 for each $100 of Liabilities; Profit from Operations was another substantial $387,823. All of these were once again record highs in the Federation’s fiscal history. The Federation enjoys a healthy, strong and solvent financial base.

ASSETS

Bonds

$17,068,015

Mortgage Loans on Real Estate

3,242,525

Real Estate occupied by Society

1,009,826

Certificate Loans and Liens

528,402

Cash on Hand and on Deposit

766,417

Aggregate write-ins for invested assets

9,556

Investment Income Due and Accrued

636,725

Premiums Collected not yet Remitted

29,722

Accident-Health Premiums Due

43

TOTAL ASSETS

$23,291,231

LIABILITIES

Aggregate Reserve for Life Certificates Aggregate Reserve for Accident$12,683,967

Health Certificates

79,076

Certificate-Contract Claims

72,434

Premiums Received in Advance

74,810

Commissions Due to Field Workers

2,648

General Expenses Due and Accrued

58,397

Unearned Investment Income Adjustment Due to

4,180

Foreign Exchange Rates

152,297

Liabilities for Employees Benefits

1,082,876

Interest Maintenance Reserve

138,430

Asset Valuation Reserve

274,403

Aggregate Write-Ins for Liabilities

426,997

TOTAL LIABILITIES

$15,050,515

KEY INDICATORS - 1992

Year ended December 31,

1992

1991

Assets

$

23,291,231

$

22,967,159

New Insurance Written

3,329,000

3,334,000

1992

1991

Insurance in Force

$

45,060,000

$

44,886,674

Investment Income

1,751,832

1,620,155

Investment Yield (%)

7.8

7.37

Solvency Ratio

154.0

152.39

Unassigned Fund-Surplus

8,240,716

7,895,923

Mortality Rate Experience

38.6

63.27

Dues Income

655,496

661,505

BENEFITS PAID TO MEMBERS

1992

Death

Matured

Surrender

$

484,467

323,980

353,829

1991

351,400

335,699

349,717

STUDENT AID & LOAN FUND FINANCIAL STATUS - DECEMBER 31, 1992

Balance on checking account 12/31/1991 $3,556.49

INCOME IN 1992 81,353.88

DISBURSEMENTS 76,074.48

BALANCE 12/31/1992 BANK RECONCILEMENT - 12/31/1992

$ 5,279.40

Suzanne S. Virgulák, Treasurer

UNASSIGNED FUNDS - SURPLUS $ 8,240,716