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Our Financial Picture
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2010 Annual Report - National Slovak Society
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| Net Admitted
Assets |
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December
2010 |
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December
2009
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|
Bonds |
$481,678,193 |
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$344,107,962
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Preferred Stocks |
3,768,516 |
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3,798,101
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Common Stocks |
530,894 |
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1,706,378
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Mortgages On Real
Estate |
4,020,600
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|
3,885,839
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Real Estate
Occupied
By Society |
917,721 |
|
939,076
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Certificate
Loans |
300,274 |
|
239,500
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Cash On
Deposit |
16,661,523 |
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11,724,682
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Computer
Equipment |
0 |
|
15,426
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Deferred
Premiums |
145,124 |
|
52,266
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Investment
Income |
5,732,995 |
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3,814,112
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Totals |
$513,755,840 |
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$370,283,342
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Liabilities &
Unassigned Surplus
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December
2010
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December
2009
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Aggregate Reserves |
$477,984,264 |
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$344,507,707
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Certificate
Claims |
210,000 |
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200,000
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Deposit-Type
Contracts |
18,960,250 |
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11,093,579
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Refunds
Due/Unpaid |
200,000 |
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175,000
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General Expenses
Due |
818,200 |
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1,034,850
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Retained By
Society As Trustee |
442,688 |
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742,940
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Commissions
Due |
107,000 |
|
97,200
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Asset Valuation
Reserve |
1,017,500 |
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489,700
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Interest
Maintenance Reserve |
3,476,349 |
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3,243,644
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Contingency
Reserve |
150,000 |
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150,000
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Unassigned
Funds |
10,389,589 |
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8,548,722
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Totals |
$513,755,840 |
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$370,283,342
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| Summary Of
Operations |
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December 2010
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December 2009
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Life Premium &
Annuity Income |
$173,242,666 |
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$111,816,153
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Net Investment
Income |
23,299,007 |
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17,852,003
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Amortization Of
Interest Maintenance Reserve |
(36,529) |
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130,194
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Income Sub-Total |
$196,505,144 |
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$129,798,350
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Death
Benefits |
1,318,960 |
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1,008,063
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Matured
Endowments |
670 |
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9,737
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Annuity
Benefits |
51,706,928 |
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26,359,902
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Disability/Health
Benefits |
764 |
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1,657
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Surrender
Benefits |
155,271
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201,628
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Certificate
Interest |
15,252 |
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10,451 |
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Increase In
Aggregate Life Reserves |
133,926,557 |
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94,122,717
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Commissions |
4,985,624 |
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3,055,686
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General
Expenses |
2,638,776 |
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2,837,912
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Insurance,
Taxes, Fees |
162,166 |
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96,149
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Expense
Sub-Total |
$194,910,968 |
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$127,703,902
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Net Gain From
Operations Before Refunds To Members |
$1,594,176 |
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$2,094,448
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Refunds To
Members |
(207,347) |
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(177,512)
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Net Gain After
Refunds To Members |
1,386,829 |
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1,916,936
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Net Realized
Capital Gain |
(852,347) |
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(316,033)
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Total
Net Income |
$534,482 |
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$1,600,903
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| Surplus
Account |
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December
2010
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December
2009
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Beginning Surplus
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$8,698,722
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$7,160,501
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Net Income From
Operations |
534,482
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1,600,903
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Change in Net
Realized Capital Gains or (Losses)
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1,020,536
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|
416,129
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| Change in NonAdmitted Assets
|
363,649 |
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(120,711) |
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Change In Asset
Valuation Reserve |
(527,800)
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(358,100)
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Aggregate Write-ins for Gains and Losses in Surplus |
450,000 |
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0 |
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Net Change In
Surplus |
1,840,867
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1,538,221
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Surplus At Year
End |
$10,539,589
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$8,698,722
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Submitted by Linda M. Strom
National
Secretary/Treasurer
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1-800-488-1890
