2014-11-17T15:47:43-06:00 2013-12-31 420714325 MCGLADREY LLP 201 N HARRISON STREET SUITE 300 DAVENPORT IA 528011999 990 2013-01-01 361493430 MODERN WOODMEN OF AMERICA MODE 3097866481 1701 FIRST AVENUE ROCK ISLAND IL 61201 DENIS P PRIOR NATIONAL SECRETARY 3097866481 2014-11-14 1 JOHN J ROMANO P00227323 5638884000 2013 2015-11-30 17:44:51Z DENIS P PRIOR 1701 FIRST AVENUE ROCK ISLAND IL 61201 1711501686 0 X WWW.MODERN-WOODMEN.ORG X 1883 IL TO IMPROVE THE QUALITY OF LIFE FOR OUR MEMBERS. 9 3 2430 510000 764765 623810 0 0 1726676389 1711501686 0 0 416686 0 1727093075 1711501686 1072283 1161199 1404239109 1337703392 80673924 89962670 0 0 0 147045699 178566769 1633031015 1607394030 94062060 104107656 12385909151 13398445743 11053379336 11883001492 1332529815 1515444251 X TO IMPROVE THE QUALITY OF LIFE FOR OUR MEMBERS. 0 0 LIFE INSURANCE PROGRAMS: MODERN WOODMEN OF AMERICA PROVIDES BENEFITS AND SERVICES COVERAGE FOR LIFE, ANNUITY, AND ACCIDENT & HEALTH INSURANCE (769,671 MEMBERS) FRATERNAL BENEFITS (5,673 BENEFICIARIES) YOUTH COMMUNITY SERVICE PROGRAMS: YOUTH ACTIVITIES AND PROGRAMS (12,363 ACTIVITIES) FRATERNAL CHARACTER (769,671 MEMBERS) 0 0 0 0 0 0 0 0 0 1 0 1 1 1 0 1 0 0 0 1 0 0 0 0 0 0 1 1 1 0 0 0 0 0 1 0 0 0 0 0 1 1 1 0 1 68958 0 1 2430 1 1 1 0 0 0 0 0 X 9 3 0 0 0 0 1 0 0 1 1 0 1 1 1 1 1 1 1 1 1 1 1 0 X DENIS P PRIOR 3097866481 1701 FIRST AVENUE ROCK ISLAND IL 61201 DARCY ANN CALLAS GENERAL COUNSEL 40.00 X X 592346 0 81120 DAVID B EMRICK DIRECTOR 5.00 X 55687 0 0 JERRY HARBAUGH FORMER DIRECTOR 5.00 X 42874 0 0 ALBERT HURST REGIONAL DIRECTOR 40.00 X 647516 5420 -320225 WILLIAM KELTNER REGIONAL DIRECTOR 40.00 X 813094 8402 -98427 WILLIAM KENNY MASSEY PRESIDENT 40.00 X X 1151917 0 29557 GARY L MEDD DIRECTOR 5.00 X 13256 0 0 ROBERT C POLLEX DIRECTOR 5.00 X 54333 0 0 DENIS PATRICK PRIOR NATIONAL SECRETARY 40.00 X X 490344 0 -565848 LARRY LYN SCHREIBER CHIEF RISK OFFICER 40.00 X X 522569 0 -124440 MICHAEL SCOTT ANDREWS CHIEF ACTUARY 40.00 X 273739 0 31802 PATRICK JAMES BARNES MARKETING OFFICER 40.00 X 363069 0 -144324 ROSEMARY COSTELLO FORMER HR MANAGER 40.00 X 996955 0 1131 MICHAEL EDWARD DAU TREASURER 40.00 X 406099 0 124841 PATRICK OMAR SAUNDERS ASSISTANT NATIONAL SECRETARY 40.00 X 241764 0 82671 STEVE VANSPEYBROECK FRATERNAL DIRECTOR 40.00 X 194142 0 -93152 GEORGE RAYMOND WORLEY AGENCY OFFICER 40.00 X 350037 0 -16685 TODD DAVID SWANSON CONTROLLER 40.00 X 169082 0 23597 DOUGLAS W GRENIER FINANCIAL REP 40.00 X 351938 262425 2881 KELLY G HERRING REGIONAL DIRECTOR 40.00 X 452716 19738 652 KENNY D JACKSON REGIONAL DIRECTOR 40.00 X 496575 10119 -76508 DANIEL L LAWRENCE REGIONAL DIRECTOR 40.00 X 549753 31354 -15149 JOSEPH A SZTAPKA REGIONAL DIRECTOR 40.00 X 633416 17042 -24171 NICK COIN FORMER TREASURER 0.00 X 179869 0 7672 GERALD ODEAN FORMER NATIONAL SECRETARY 0.00 X 255567 0 7672 10298657 354500 -1085333 266 1 1 0 SE2 5801 SW SIXTH AVENUE TOPEKA KS 66636 VA PRODUCT MANAGEMENT 1064630 EDGEWATER TECHNOLOGY PO BOX 83328 WOBURN MA 01813 CONSULTING 856920 PRUDENTIAL PRIVATE PLACEMENT INVESTORS L GATEWAY CTR 3 18TH FLOOR NEWARK NJ 07102 INVESTMENT MANAGEMENT 496277 OFI INSTITUTIONAL DISCOVERY SMALL 6803 SOUTH TUCSON WAY CENTENNIAL CO 80112 INVESTMENT MANAGEMENT 354910 ERNST & YOUNG 801 GRAND AVENUE DES MOINES IA 50309 AUDIT 300100 14 PREMIUMS & OTHER RECEIPTS 524113 1054138928 1054138928 GROSS INVESTMENT INCOME 524113 572619150 572619150 OTHER INCOME 524113 84738078 83978843 759235 PRINTING INCOME 323100 5530 5530 1711501686 1711501686 1710736921 764765 0 629229 531970 1337703392 5755987 31126181 30377019 15814414 6889069 336524 299825 1026468 1220560 2140875 7038271 2108186 5398109 885062 2712299 43782 4656701 390905 COMMISSIONS 63697938 MISCELLANEOUS EXPENSE 19234523 CAMP ADMIN & EXPENSE 13428188 FIELD EXPENSE ALLOWANCE 9710368 44238185 1607394030 3069248 1587882 48564459 60324888 77187890 45065850 41493714 32122040 26300472 28505628 11588467234 12415697530 678014024 860207775 12385909151 13398445743 15351648 15288834 0 35626316 11038027688 11832086342 11053379336 11883001492 X 0 0 0 0 1332529815 1515444251 1332529815 1515444251 12385909151 13398445743 X 104107656 102454210 -23647430 X X 0 1 X 1 0 1150000 195245 1345245 10402278 56622305 38495726 28528857 8818062 6570124 2247938 32122040 BONDS 10733271830 F COMMON STOCKS 668838089 F MORTGAGE LOANS 561216684 C OTHER INVESTED ASSETS 269231816 F CERTIFICATE LOANS 183139111 C 12415697530 SECURITIES LENDING 498803519 SEPARATE ACCOUNTS 236062139 INVESTMENT INCOME DUE & ACCRUED 121637428 AMOUNTS RECOVERABLE FROM REINSURERS 2419735 RECEIVABLE FROM SUBSIDIARIES & AFFILIATES 927730 UNCOLLECTED PREMIUMS 293437 MISCELLANEOUS ASSETS 63787 860207775 CONTRACT RESERVES 10693746459 SECURITIES LENDING 498803519 ASSET VALUATION RESERVE 254657405 SEPARATE ACCOUNTS 236062139 OTHER LIABILITIES 13977894 LIABILITY FOR BENEFITS FOR EMPLOYEES & FIELDWORKERS 49583276 INTEREST MAINTENANCE RESERVE 27188276 CONTRACT CLAIM LIABILITY 20835807 DRAFTS OUTSTANDING 15214130 PROVISION FOR REFUNDS PAYABLE 14400000 PREMIUMS RECEIVED IN ADVANCE 7617437 11832086342 1697787232 0 1697787232 13714454 13714454 1711501686 1593679576 0 1593679576 13714454 13714454 1607394030 CENTRAL AMERICA AND THE CARIBBEAN INVESTMENTS 41644000 EUROPE (INCLUDING ICELAND & GREENLAND) INVESTMENTS 10726000 0 0 0 0 0 0 52370000 0 52370000 1 0 1 1 1 0 1 UNITED WAY OF THE QUAD CITIES AREA 3247 E 35TH STREET COURT DAVENPORT IA 52807 362725960 501(C)(3) 84964 YMCA LEARNING CENTER & GENERAL SUPPORT GIRL SCOUTS OF EASTERN IOWA AND WESTERN ILLINOIS INC 940 GOLDEN VALLEY DRIVE BETTENDORF IA 52722 421008848 501(C)(3) 50000 FACILITY RENOVATION PUTNAM MUSEUM OF HISTORY AND NATURAL SCIENCE 1717 W 12TH STREET DAVENPORT IA 52804 420680474 501(C)(3) 50000 STEM LEARNING CENTER ST AMBROSE UNIVERSITY 518 W LOCUST STREET DAVENPORT IA 52803 420703280 501(C)(3) 50000 RECREATION AND WELLNESS CENTER TRINITY REGIONAL HEALTH SYSTEM 2701 17TH STREET ROCK ISLAND IL 61201 363351952 501(C)(3) 50000 EMERGENCY & HEART CENTER EXPANSION QUAD CITY CHAMBER OF COMMERCE 1601 RIVER DRIVE MOLINE IL 61265 273065786 501(C)(6) 30000 1 QC CAMPAIGN LIFE AND HEALTH INSURANCE FOUNDATION FOR EDUCATION 1655 NORTH FORT MYER DRIVE NO 610 ARLINGTON VA 22209 521904610 501(C)(6) 17500 GENERAL SUPPORT RIVER ACTION INC PO BOX 964 DAVENPORT IA 52805 421267366 501(C)(3) 10000 GENERAL SUPPORT BIG BROTHERS BIG SISTERS OF THE MISSISSIPPI VALLEY 130 W 5TH STREET DAVENPORT IA 52801 421320908 501(C)(3) 9275 YOUTH MENTORING QUAD CITY ARTS INC 1715 2ND AVENUE ROCK ISLAND IL 61201 363122824 501(C)(3) 9000 SUMMER YOUTH EMPLOYMENT CHILDREN'S THERAPY CENTER OF THE QUAD CITIES NFP 1504 13TH AVE MOLINE IL 61265 362207922 501(C)(3) 8775 GENERAL SUPPORT ILLOWA COUNCIL INC BOY SCOUTS OF AMERICA 4412 N BRADY STREET DAVENPORT IA 52806 362616917 501(C)(3) 8575 SPORTING CLAYS EVENT THE MIDWEST WRITING CENTER 225 E 2ND STREET DAVENPORT IA 52803 421126078 501(C)(3) 7800 WRITER'S CONFERENCE BETHANY FOR CHILDREN & FAMILIES 1830 6TH AVENUE MOLINE IL 61265 362166973 501(C)(3) 7500 AWARDS CELEBRATION JUNIOR ACHIEVEMENT OF THE HEARTLAND INC 800 12TH AVENUE MOLINE IL 61265 362684253 501(C)(3) 7500 BIZTOWN & GENERAL SUPPORT NEW GROUND THEATRE 2113 E 11TH STREET DAVENPORT IA 52803 421519151 501(C)(3) 7500 CAPITAL CAMPAIGN TWO RIVERS YMCA INC 2040 53RD STREET MOLINE IL 61265 362169199 501(C)(3) 7500 Y-SOLUTIONS CHRISTIAN FRIENDLINESS ASSOCIATION INC 3928 12TH AVENUE MOLINE IL 61265 362193602 501(C)(3) 6275 GENERAL SUPPORT 16 2 SCHOLARSHIPS 262 441000 ORPHAN BENEFITS 35 90970 PART I, LINE 2: ALTHOUGH MODERN WOODMEN DOES NOT HAVE SPECIFIC PROCEDURES FOR MONITORING THE USE OF GRANT FUNDS, IT DOES HAVE PROCEDURES IN PLACE TO DECIDE WHO RECEIVES GRANTS, CONTRIBUTIONS, SCHOLARSHIPS AND ORPHAN BENEFITS. TO BE ELIGIBLE TO RECEIVE CONTRIBUTIONS AN ORGANIZATION MUST BE A 501(C)(3) OR 501(C)(6) ORGANIZATION. CONTRIBUTION RECIPIENTS ARE SELECTED BY A MODERN WOODMEN COMMITTEE OR BOARD OF DIRECTORS BASED ON ESTABLISHED CRITERIA. ELIGIBLE SCHOLARSHIP RECIPIENTS MUST BE BENEFICIAL MEMBERS OF MODERN WOODMEN AND ARE SELECTED BY AN INDEPENDENT COMMITTEE OR AT RANDOM BASED ON ESTABLISHED CRITERIA. SCHOLARSHIP CHECKS ARE MADE PAYABLE TO THE SCHOOL AND NOT THE INDIVIDUAL. ORPHAN BENEFITS ARE PROVIDED TO MEMBERS' CHILDREN OR JUNIOR MEMBERS WHO BECOME ORPHANED BEFORE THEIR 19TH BIRTHDAY. ELIGIBILITY REQUIREMENTS ARE ESTABLISHED BY THE BOARD OF DIRECTORS AND PAYMENTS ARE PAID ONLY TO LEGAL GUARDIANS. X X X X 1 1 X X X 0 1 0 DARCY ANN CALLAS GENERAL COUNSEL 448740 0 111003 0 32603 0 71784 0 9336 0 673466 0 0 0 ALBERT HURST REGIONAL DIRECTOR 238307 0 66230 0 342979 5420 -336053 0 15828 0 327291 5420 0 0 WILLIAM KELTNER REGIONAL DIRECTOR 289855 0 92274 0 430965 8402 -114255 0 15828 0 714667 8402 0 0 WILLIAM KENNY MASSEY PRESIDENT 892956 0 218750 0 40211 0 20221 0 9336 0 1181474 0 0 0 DENIS PATRICK PRIOR NATIONAL SECRETARY 373296 0 92188 0 24860 0 -573520 0 7672 0 -75504 0 0 0 LARRY LYN SCHREIBER CHIEF RISK OFFICER 400960 0 98950 0 22659 0 -132112 0 7672 0 398129 0 0 0 MICHAEL SCOTT ANDREWS CHIEF ACTUARY 227499 0 45001 0 1239 0 22466 0 9336 0 305541 0 0 0 PATRICK JAMES BARNES MARKETING OFFICER 299200 0 59400 0 4469 0 -148847 0 4523 0 218745 0 0 0 ROSEMARY COSTELLO FORMER HR MANAGER 82706 0 56400 0 857849 0 0 0 1131 0 998086 0 682579 0 MICHAEL EDWARD DAU TREASURER 334726 0 66200 0 5173 0 115505 0 9336 0 530940 0 0 0 PATRICK OMAR SAUNDERS ASSISTANT NATIONAL SECRETARY 200390 0 40600 0 774 0 74999 0 7672 0 324435 0 0 0 STEVE VANSPEYBROECK FRATERNAL DIRECTOR 159920 0 32984 0 1238 0 -97675 0 4523 0 100990 0 0 0 GEORGE RAYMOND WORLEY AGENCY OFFICER 287853 0 57785 0 4399 0 -24357 0 7672 0 333352 0 0 0 TODD DAVID SWANSON CONTROLLER 149202 0 19718 0 162 0 14261 0 9336 0 192679 0 0 0 DOUGLAS W GRENIER FINANCIAL REP 0 0 37600 0 314338 262425 -16666 0 19547 0 354819 262425 0 0 KELLY G HERRING REGIONAL DIRECTOR 115233 0 47547 0 289936 19738 -18895 0 19547 0 453368 19738 0 0 KENNY D JACKSON REGIONAL DIRECTOR 134036 0 35914 0 326625 10119 -96055 0 19547 0 420067 10119 0 0 DANIEL L LAWRENCE REGIONAL DIRECTOR 176860 0 45419 0 327474 31354 -23892 0 8743 0 534604 31354 0 0 JOSEPH A SZTAPKA REGIONAL DIRECTOR 201639 0 64235 0 367542 17042 -43718 0 19547 0 609245 17042 0 0 NICK COIN FORMER TREASURER 0 0 0 0 179869 0 0 0 7672 0 187541 0 179869 0 GERALD ODEAN FORMER NATIONAL SECRETARY 0 0 0 0 255567 0 0 0 7672 0 263239 0 255567 0 PART I, LINE 1A PART I, LINE IA: MODERN WOODMEN OF AMERICA PROVIDES THE FOLLOWING TO INDIVIDUALS REPORTED IN PART VII, SECTION A, LINE IA: FIRST-CLASS OR CHARTER TRAVEL: IN TAX YEAR 2013, THE FOLLOWING TYPE OF LISTED INDIVIDUAL REPORTED IN PART VII RECEIVED THE FIRST-CLASS OR CHARTER TRAVEL BENEFIT: 1 OFFICER. TRAVEL FOR COMPANIONS: IN TAX YEAR 2013, THE FOLLOWING TYPES OF LISTED INDIVIDUALS REPORTED IN PART VII RECEIVED THE TRAVEL FOR COMPANIONS BENEFIT: 6 OFFICERS, 5 DIRECTORS, AND 5 HIGHEST COMPENSATED EMPLOYEES. THE DOLLAR AMOUNT OF THE BENEFIT IS INCLUDED IN REPORTABLE COMPENSATION ON THE FORM 990 PART VII, AND SCHEDULE J PART, II. TAX INDEMNIFICATION AND GROSS-UP PAYMENTS: IN TAX YEAR 2013, THE FOLLOWING TYPES OF INDIVIDUALS REPORTED IN PART VII RECEIVED TAX INDEMNIFICATION AND GROSS-UP PAYMENTS: 9 OFFICERS, 2 DIRECTORS, AND 5 HIGHEST COMPENSATED EMPLOYEES. THE DOLLAR AMOUNT OF THE BENEFIT IS INCLUDED IN REPORTABLE COMPENSATION ON THE FORM 990 PART VII, AND SCHEDULE J, PART II. HEALTH OR SOCIAL CLUB DUES: IN TAX YEAR 2013, THE FOLLOWING TYPES OF INDIVIDUALS REPORTED IN PART VII RECEIVED HEALTH OR SOCIAL DUES: 4 OFFICERS. THE DOLLAR AMOUNT OF THE BENEFIT IS INCLUDED IN REPORTABLE COMPENSATION ON THE FORM 990 PART VII, AND SCHEDULE J, PART II. PART I, LINE 4B THE FOLLOWING INDIVIDUALS PARTICIPATED IN A SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN IN 2013 SPONSORED BY MODERN WOODMEN OF AMERICA: DARCY ANN CALLAS - $9,231, ALBERT HURST - $14,083, WILLIAM KELTNER - $16,715, WILLIAM KENNY MASSEY - $24,412, LARRY LYN SCHREIBER - $7,142, GEORGE RAYMOND WORLEY - $2,506, PATRICK JAMES BARNES - $2,779, ROSEMARY COSTELLO - $2,471, MICHAEL EDWARD DAU - $3,828, MICHAEL SCOTT ANDREWS - $99, DOUGLAS W. GRENIER - $7,370, DANIEL L. LAWRENCE - $9,519, KENNY D. JACKSON - $9,212, JOSEPH A. SZTAPKA - $11,572, AND KELLY G. HERRING - $7,005. THE DOLLAR AMOUNT REPRESENTS THE CURRENT YEAR CONTRIBUTION MADE BY MODERN WOODMEN OF AMERICA ON BEHALF OF THE INDIVIDUAL TO THE PLAN IN 2013. THIS INFORMATION IS INCLUDED IN REPORTABLE COMPENSATION ON THE FORM 990, PART VII AND SCHEDULE J, PART II. THE INCREASE OR DECREASE IN ACTUARIAL VALUE RELATED TO THE SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN FOR THE INDIVIDUALS LISTED ABOVE IS INCLUDED IN DEFERRED COMPENSATION ON THE FORM 990, PART VII AND SCHEDULE J, PART II. VESTING RULES FOR NONQUALIFIED PLAN SUPPLEMENTAL BENEFITS DUE TO LIMITATIONS UNDER THE DEFINED BENEFIT PLAN BECOME AVAILABLE TO EMPLOYEES WHEN THEY ARE ELIGIBLE FOR EARLY OR NORMAL BENEFITS UNDER THE EMPLOYEE'S RETIREMENT PLAN. EMPLOYEES MUST BE AT LEAST AGE 55 WITH 10 YEARS OF ACTIVE SERVICE OR AGE 65 WITH 5 YEARS OF ACTIVE SERVICE. THESE SUPPLEMENTAL BENEFITS BECOME 20% VESTED AFTER TWO YEARS OF ACTIVE SERVICE AND GRADUALLY INCREASE TO 100% VESTED AFTER 6 YEARS OF ACTIVE SERVICE. MWA BANK SEE BELOW IN PART V 2841266 REIMBURSEMENT OF EXPENSES 0 MWA BANK SEE BELOW IN PART V 109105 SERVICE FEES 0 MWA BANK SEE BELOW IN PART V 103101 RECEIPT OF RENT 0 MWA FINANCIAL SERVICES SEE BELOW IN PART V 1100000 CAPITAL CONTRIBUTION 0 MWA FINANCIAL SERVICES SEE BELOW IN PART V 1778623 REIMBURSEMENT OF EXPENSES 0 MWAGIA SEE BELOW IN PART V 451568 REIMBURSEMENT OF EXPENSES 0 FORM 990, SCHEDULE L, PART IV, COLUMN B: DESCRIPTION OF RELATIONSHIP - MWA BANK:WILLIAM KENNY MASSEY IS AN OFFICER AND DAVID B. EMRICK IS A DIRECTOR OF MODERN WOODMEN OF AMERICA AND ARE REPORTED ON THE FORM 990, PART VII. DURING THE TAX YEAR, WILLIAM KENNY MASSEY AND DAVID B. EMRICK WERE DIRECTORS OF MWA BANK. FORM 990, SCHEDULE L, PART IV, COLUMN B: DESCRIPTION OF RELATIONSHIP - MWA FINANCIAL SERVICES:WILLIAM KENNY MASSEY, DENIS PATRICK PRIOR, DARCY ANN CALLAS AND LARRY LYN SCHREIBER ARE OFFICERS AND TODD DAVID SWANSON IS A KEY EMPLOYEE OF MODERN WOODMEN OF AMERICA AND ARE REPORTED ON THE FORM 990, PART VII. DURING THE TAX YEAR, DENIS PATRICK PRIOR AND TODD DAVID SWANSON WERE OFFICERS AND WILLIAM KENNY MASSEY, DARCY ANN CALLAS, AND LARRY LYN SCHREIBER WERE DIRECTORS OF MWA FINANCIAL SERVICES. FORM 990, SCHEDULE L, PART IV, COLUMN B: DESCRIPTION OF RELATIONSHIP - MWAGIA:WILLIAM KENNY MASSEY, DENIS PATRICK PRIOR, DARCY ANN CALLAS, AND LARRY LYN SCHREIBER ARE OFFICERS OF MODERN WOODMEN OF AMERICA AND ARE REPORTED ON THE FORM 990, PART VII. DURING THE TAX YEAR, WILLIAM KENNY MASSEY AND DENIS PATRICK PRIOR WERE OFFICERS AND DARCY ANN CALLAS AND LARRY LYN SCHREIBER WERE DIRECTORS OF MWAGIA. FORM 990, PART VI, SECTION A, LINE 6 THE SOCIETY IS ORGANIZED AS A FRATERNAL BENEFIT SOCIETY WITH MEMBERS. FORM 990, PART VI, SECTION B, LINE 11 THE RETURN IS PROVIDED TO THE GOVERNING BODY FOR FINAL REVIEW AFTER PREPARATION BY THE ACCOUNTING STAFF AND REVIEW BY THE CONTROLLER WITH THE ASSISTANCE OF AN EXTERNAL ACCOUNTING FIRM. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST, ETHICS AND EXTERNAL AUDITOR QUESTIONNAIRES ARE SENT OUT EVERY JANUARY TO ALL DIRECTORS, OFFICERS AND KEY EMPLOYEES. THESE ARE RETURNED TO THE PRESIDENT FOR REVIEW. THIS INFORMATION, INCLUDING THE PRESIDENT'S INFORMATION, IS REVIEWED AT THE ANNUAL BOARD OF DIRECTORS MEETING EACH FEBURARY. EACH EMPLOYEE IS ASKED TO PERIODICALLY ACKNOWLEDGE THEIR UNDERSTANDING OF MODERN WOODMEN OF AMERICA'S PRINCIPLES OF ETHICS. FORM 990, PART VI, SECTION B, LINE 15 REVIEW AND APPROVAL OF COMPENSATION FOR THE PRESIDENT IS DETERMINED ANNUALLY BASED ON A RECOMMENDATION OF THE BOARD'S COMPENSATION COMMITTEE AND APPROVED BY THE BOARD OF DIRECTORS. THE REVIEW INCLUDES INDUSTRY PEER GROUP SURVEY DATA FACTORED FOR RELATIVE ASSETS MANAGED, BENCHMARKING THE MEDIAN BASE PAY AS THE MIDPOINT OF THE RANGE RECOMMENDED. TOTAL COMPENSATION TARGETS INCLUDE VARIABLE BONUS PAY, PERQUISITES, AND THE COMPREHENSIVE BENEFITS PROGRAM AVAILABLE TO ALL MODERN WOODMEN OF AMERICA EMPLOYEES. THE BOARD MAY ENGAGE EXTERNAL CONSULTANT RESOURCES TO CONDUCT THE REVIEW AND FORMULATE RECOMMENDATIONS TO THE COMPENSATION COMMITTEE WHEN DEEMED NECESSARY. REVIEW AND APPROVAL OF COMPENSATION FOR OFFICERS AND KEY EMPLOYEES OTHER THAN THE PRESIDENT IS CONDUCTED ANNUALLY BY MANAGEMENT, REVIEWED BY THE COMPENSATION COMMITTEE, AND APPROVED BY THE BOARD OF DIRECTORS. THE REVIEW INCLUDES THE EVALUATION OF INDUSTRY PEER GROUP SURVEY DATA FACTORED FOR THE RELATIVE ASSETS MANAGED, BASED ON THE MEDIAN AS THE MIDPOINT OF A PAY RANGE RECOMMENDED FOR EACH POSITION. THE REVIEW MAY ENTAIL THE USE OF AN OUTSIDE COMPENSATION CONSULTANT. TOTAL COMPENSATION TARGETS INCLUDE BASE PAY, VARIABLE COMPENSATION PROGRAMS, AND THE COMPREHENSIVE BENEFITS PROGRAM AVAILABLE TO ALL MODERN WOODMEN OF AMERICA EMPLOYEES. FORM 990, PART VI, SECTION C, LINE 19 FEDERAL TAX LAW DOES NOT REQUIRE THAT SUCH DOCUMENTS BE MADE PUBLICLY AVAILABLE. CERTAIN INFORMATION IS AVAILABLE THROUGH THE DEPARTMENT OF INSURANCE, ON OUR WEBSITE, AND IN OUR MEMBER PUBLICATION. FORM 990, PART XI, LINE 9: CHANGE IN NONADMITTED ASSETS 64,400,278. CHANGE IN ASSET VALUATION RESERVE -54,324,477. CHANGE IN ADDITIONAL MINIMUM PENSION BENEFIT LIABILITY 16,855,000. CHANGE IN ADDITIONAL MINIMUM OTHER BENEFIT LIABILITY 2,526,000. FRATERNAL BENEFIT RESERVE CHANGE -70,318. CHANGE IN MINIMUM PENSION PLAN TRANSITION LIABILITY 1,776,000. CHANGE IN MINIMUM POST RETIREMENT PLAN TRANSITION LIABILITY 141,000. CHANGE IN PREPAID PENSION PLAN COSTS -35,797,913. CHANGE IN POSTRETIREMENT MEDICAL BENEFITS FOR EMPLOYEES & FIELDWORKERS -19,153,000. FORM 990, PART XII, LINE 1: THE FINANCIAL STATEMENTS AND TAX RETURN ARE PREPARED ON THE BASIS OF ACCOUNTING PRACTICES PRESCRIBED OR PERMITTED BY THE ILLINOIS DEPARTMENT OF FINANCIAL AND PROFESSIONAL REGULATION - DIVISION OF INSURANCE (STATUTORY ACCOUNTING PRACTICES). HUDSON CLEAN ENERGY PARTNERS 400 FRANK BURR BOULEVARD STE 37 TEANECK NJ 07666 263202466 INVESTING CJ MODERN WOODMEN OF AMERICA EXCLUDED 453 5933843 0 0 0.89720 OFI GLOBAL SMALL CAP GROWTH FUND LLC 6803 SOUTH TUCSON WAY CENTENNIAL CO 80112 680577323 INVESTING DE MODERN WOODMEN OF AMERICA EXCLUDED 4237504 34975667 0 0 1.00000 MWA BANK 1701 FIRST AVENUE ROCK ISLAND IL 61201 352189783 FEDERAL SAVINGS BANK IL MODERN WOODMEN OF AMERICA C 10010665 246269536 1.00000 1 MWA FINANCIAL SERVICES INC 1701 FIRST AVENUE ROCK ISLAND IL 61201 364420471 BROKER/DEALER IL MODERN WOODMEN OF AMERICA C 9841308 1866751 1.00000 1 MWAGIA 1701 FIRST AVENUE ROCK ISLAND IL 61201 371414457 GENERAL INSURANCE AGENCY IL MWA FINANCIAL SERVICES INC C 2068178 322060 1.00000 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 1 1 1 0 MWA BANK P 2841266 FAIR MARKET VALUE MWA FINANCIAL SERVICES INC P 1778623 FAIR MARKET VALUE MWA FINANCIAL SERVICES INC B 1100000 FAIR MARKET VALUE HUDSON CLEAN ENERGY PARTNERS B 989939 FAIR MARKET VALUE MWAGIA P 451568 FAIR MARKET VALUE HUDSON CLEAN ENERGY PARTNERS R 182077 FAIR MARKET VALUE MWA BANK M 109105 FAIR MARKET VALUE MWA BANK A 103101 FAIR MARKET VALUE MWA FINANCIAL SERVICES INC A 92775 FAIR MARKET VALUE