Verhovayak Lapja, 1953 (36. évfolyam, 1-12. szám)
1953 / Verhovay Journal
August 19, 1953 Verhovay Journal PAGE 7 SEMI - ANNUAL STATEMENT January - June, 1953 Life Benefit Disability Combined Department Department Departments I. Ledger Assets—January 1,1953 12,731,662.86 634,407.4113,366,070.27 II. Income Monthly Dues ................................792,913.36 87,636.15 880,549.53 Interest on Mortgage Loans ..........11,330.12 --.---11,330.12 Int. on Membership Cert. Loans ....19,692.31 --.--19,692.31 Interest on Bonds ..................180,793.70 180,793.70 Dividends on Stocks ........................1,633.96 --.--1,633.96 Interest on Bank Deposits .............236.74 --.---236.74 Interest on Real Estate Loans .....132.52 --.--132.52 Home Office Building Income .......20,954.48 --.--20,954.48 Profit on Sale or Maturity of Bonds ..................................434.57 434.57 Bond Amortization Increase .......138.42 --.--138.42 Deposits to Trust Fund ................9,185.72 --.--9,185.72 Handling Charges—Cash -Surrenders ..........................2,511.75 2,511.75 Handling Charges—Certif. Loans ...336.40 --.---336.40 Deposits to Pension Fund ..............8,135.40 --.--8,135.40 Transfer Over 1% Income from Trust Fund ....................................556.59 --.--556.59 Miscellaneous Income ......................70 --.--.70 1953 Bowling Tournament Income .8,545.10 --.--8,545.10 Reimb. from Juv. Order for Combined Exp.................................24,896.42 --.--24,896.42 Employees and Officers — Social Security Deductions .............1,851.17 --.--1,851.17 Employees and Officers — Withholding Tax Deductions .........22,232.51 22,232,51 Total Income ............................1,106 511.96 87,636.15 1,194,148.11 TOTAL ..................................13,838,174.82 722,043.56 14,560,218.38 III. Disbursements Death Benefit Claims .....................227,642.95 --.--227,642.95 Additional Accidental Death Benefits ..........................................1,000.00 —.— 1,000.00 Matured Endowments .....................14,136.50 —. —14,136.50 Cash Surrenders ..............................61,848.38 --.--61,848.38 Dividends ........................3,607.65 __ ___ 3,607.65 Home Office Building Disbursements ..............................12,511.60 --.---12,541.60 Investment Expenses .......................2,613.13 2,613.13 Loss on Sale or Maturity of Bonds .41.45 —.— 41.45 Actuarial & Auditing Expenses ...2.866.40 2,866.40 Monthly Dues Refunds .....................1,298.08 —.— 1,298.08 Accrued Bond Interest .....................2,815.65 --.---2.815.65 Sickness and Accident Claims .......--.---69,006.12 69,006.12 Permanent Disablity Claims ...........—.— 2,600.00 2,600.00 Trust Fund Paid Deposits .............15.428.50 —.— 15,428.50 Transfer Over 1% Income to Expense Fund .............................556.59 —.— 556.59 Payor Benefits Wraived ...................23.55 --.---23.55 Premium Refunds ............................1,569.28 --.--1,569.28 Bond Amortization Decrease .........1.73 --.---1.73 Commissions ......................................39,166.76 —. —39,166.76 Medical Examinations .....................4,095.00 —.— 4,095.00 Collection of Dues ..........................55,703.48 —.— 55,703.48 Juv. Order Combined Expenses .....24,896.42 —.— 24,896.42 Payments from Pension Fund __220.40 —.— 220.40 Inspection of Risks .........................270.30 —.— 270.30 Office Employees Salaries ............39,096.16 —.— 39,096.16 Salaries—Officers & Trustees ......23,049.92 --.---23,049.92 Travel & Other Expenses .............13,396.17 --.---13,396.17 Insurance Department Fees ...........1,322.00 --.--1,322.00 Branch Office Rental .......................1.869.21 J 1,869.21 Home Office Rental ........................5,460.00 5,460.00 General Office Main. & Mise. Expense ......................................... 457.01--.---457.01 Office Mach. Main & O. Equip. Main.................................................1,578.40 1,578.40 Advertising, Printing, Stationery ..5,670.52 28.75 5,699.27 Postage, Teleg., Telephone, Express .........................................2,631.46 —. —2,631.46 435.00-435.00 American Hungarian Federation ... 499.98--.---499.98 Verhovay Fund ............................... 499.98--.---499.98 Official Publication ..........................7,508.37 7,508.37 Legal Expense ..................................100.00 --.--100.00 Other Legal Expenses ...................1,350.00 --.--1,350.00 Furniture & Equipment ...................2,631.63 . --.--2,631.63 Bureau & Association Dues & Assessments .................................250.00 --.---250.00 Books, Newspapers, Periodicals ....204.52 --.---204.52 Insurance, except on Real Estate ...1,031.25 --.--1,031.25 Sports Activities Fund .....................750.00 --.--750.00 Social Security Federal Tax .........3,055.93 --.--3,055.93 State Unemployment Tax ...............318.66 --.--318.66 Other State Taxes ..........................5.00 -----5.00 Other Federal Taxes .......................2,184.12 ------.-------2,184.12 1953 Bowling Tournament Expenses ........................................13,266.83 —.— 13,266.83 OUR CHILDREN AND THEIR FUTURE (Continued from page 1) s Life Insurance so useful to the great majority.” Besides the savings feature life insurance is SAFE, probably the safest of all human institutions, and it is GUARANTEED — the cash value increases each year. It is guaranteed and available at any time, and the savings plan is completed by the time the money is needed. The life insurance plan generally used to provide a college fund is the endowment at age 18 which provides for the payment of the full amount of the policy at age 18 — when most boys and girls are ready to enter college. This plan is a sure and systematic method of guaranteeing funds when needed for a child’s education. 8. To get insurance while insurable. Insurability is an asset which can be lost by waiting too long — through physical impairment; being in a hazardous occupation; or acquiring a bad personal record. Rejections among juvenile applicants are exceedingly low because of the comparatively few physical impairments. Adult applicants on the other hand are subject to a rejection rate of about 10%. Each year many thousands of applicants for insurance discover that no matter how great the need and desire, life insurance for them is an unpurchasable item. Juvenile insurance guarantees that, come what may, some insurance is in force. 9. To give a child the benefit of a parent’s judgment in choice of an insurer and the plan of insurance. 10. It is a perfect gift. The gift of a life insurance policy on the life of a minor boy or girl, by parents or grandparents, has many advantages. It is a wonderful inconspicuous gift, yet impressive and appreciated. The gift of a policy makes the dissipation or spending of the principal less likely; also, no other kind of property offers these invaluable features — expert management service, guarantee of principal, guaranteed minimum interest rate and certain tax advantages. The Verhovay Fraternal Insurance Association for many years has offered the best Juvenile insurance plans to the parents and the grandparents of thousands of minor boys and girls. Our Association today offers plans of Endowment at Age 85, 20- Payment Life, 20-Year Endowment, 20-Year Half Endowment and Half Paid-Up Life, Endowment at Age 18. We have pioneered with the other insurance societies the Juvenile life insurance program.. Our Juvenile Department has contributed immensely to the well-being of thousands of children and their parents. There hardly could be a parent who, having read the advantages offered by Juvenile insurance, would set aside the well-being of his minor child or children. Certainly every mother, father or grandparents realize the need for a good program of life insurance for their young loved ones. THAT PROGRAM SHOULD BE STARTED AT ONCE! Your very sound and strong fraternal insurance society, the Verhovay, is ready to serve your every insurance need today. Our organization has trained and capable field men and women who give their time and services to the public they serve, and are ready and willing to discuss all life insurance problems, especially those relating to Juvenile insurance. Call your field representative today, or write to the Home Office for information. Every effort will be made to set up a program of insurance that will best suit your needs and those of your children. Join the Verhovay ranks of the many satisfied and well-protected members. Insure your children with us today ! (The society is grateful to the D.L.B. Agent’s Service, Cincinnati 2, Ohio, the major source of the above article.) Verhovay Pension Fund ................... 5,000.00 —.— 5,000.00 Collector of Internal Revenue— Withheld Taxes ........... 15,655.48 —.— 15,655.48 Total Disbursements ................ 621,621.40 71,634.87 693^256.27 Ledger Assets—June 30, 1953 ......... 13,216,553.42 650,408.69 13,866,962.11 JOHN SZALANCZY JOHN SABO National Treasurer National Auditor
