Knights of Columbus

“Knights of columbus is a catholic fraternal benefit organization with over 2.0 million members. All members vote on non-insurance (fraternal) matters. Only members with fraternal insurance policies vote on matters regarding insurance. Voting is generally accomplished through delegates elected by members.”

“Delegates are elected at various state and district conventions. These delegates elect certain directors each year at the supreme council annual meeting.”

“Changes in the by-laws of the organization are voted on by members in good standing either through an elected delegate or a general vote. Their eligibility to vote on a matter is limited to their standing as an insurance member or non-insurance member.”

“A copy of the 990 is distributed to each board member for review at a board of directors meeting before the return is filed.”

“On an annual basis all board members and top management officials are required to fill out a conflict of interest questionnaire. All potential issues are reviewed and resolved by the secretary's office in conjunction with the chief compliance officer and the internal audit department.”

“The executive compensation committee of the board of directors engages an independent compensation consultant on an annual basis, including in 2024, for a review of the reasonableness of total compensation provided to supreme officers and other top management officials. The independent compensation consultant uses survey sources that they have compiled plus other published surveys to present a report of comparable market data of total compensation for each management position. The executive compensation committee reviews and discusses the comparable market data before making a recommendation to the board of directors. After a review and discussion about the comparable market data and the individuals in the roles under review, a vote is taken to approve a new salary range and objective bonus structure for the top management individuals. Total compensation for each individual is within the range approved by the board of directors which is within the comparable market data.”

“The organization's governing documents, conflict of interest policy and financial statements are photocopied and mailed to individuals or organizations upon request.”

“Change in asset valuation reserve -98,033,745. Change in non-admitted assets not included pursuant to insurance law -51,076,928. Net change due to fluctuations in foreign currency exchange rates -37,247,985. Change in foreign exchange - fourth degree -13,985. Net change in transition liability for pension and postretirement benefits 48,932,124. Unrealized gain on investments - fourth degree 400,181.”

“Knights of columbus canada charities, inc.'s exempt code section: canada charities is exempt from federal taxation in canada under paragraph 149(1)(f) of the income tax act and is designated as a "public foundation" per paragraph 149.1(6.3) of the act.”