Polish Beneficial Association

“The general manager reviews the 990 prior to filing.”

“Officers and board members are required to file a conflict of interest statement annually.”

“Compensation is determined by a compensation committee for the administrative secretary and treasurer annually. Compensation for the board of directors is determined by the budget committee at the association's quadrennial convention.”

“Compensation is determined by a compensation committee for the administrative secretary and treasurer annually. Compensation for the board of directors is determined by the budget committee at the association's quadrennial convention.”

“Available upon request at the association's office.”

“Besides being a fraternal life insurance association the organization takes part in civic, patriotic, charitable and religious and church activities. Members have many fraternal benefits such as being able to obtain a home loan mortgage to purchase a home; students may obtain tuition aid for college and technical schools; members can obtain loans on their policies. Over the many years polish beneficial association has greatly expanded their activities for members and offer activities such as children's polish folk dance lessons, polish language courses, children's christmas parties, polka dance lessons, children's polish glee club, easter egg hunt for children, various trips and outings.”

“On december 31, 2021 the association merged with the artisans order of mutual protection (a pennsylvania domiciled fraternal society). The order assumed the assets and liabilities of the polish beneficial association and acquired approximately 4,500 certificates as a result of the merger. The merger was approved by the insurance commissioner of the commonwealth of pennsylvania on november 23, 2021.”

“Rent owner occupied property 60,000 rent owner occupied property -60,000 other adjustments 0 prior year adjustment 19,713 change in amounts held as trustee 8,907 change in unrealized capital gain (loss) 2,042 change in non-admitted assets 2,608 merger 377,406 change in asset valuation reserve -26,691 change in non-admitted assets 0 other 0 total 383,985”

“The financial statements have been prepared on the basis of accounting and reporting practices prescribed by the insurance department of the commonwealth of pennsylvania. These vary in some respects from generally accepted accounting principles (gaap) followed by business enterprises in general in determining financial position and results of operations. The pennsylvania insurance department recognizes only statutory accounting practices prescribed or permitted by the state of pennsylvania for determining and reporting the financial condition and results of operations of a fraternal benefit society, for determining its solvency under the pennsylvania insurance law. The national association of insurance commissioners (naic) accounting practices and procedures manual, version effective january 1, 2001, (naic sap) has been adopted as a component of prescribed or permitted practices by the state of pennsylvania.”