Gcu FY2023 filing

Tax-deductible

Beaver, PA501(c)(8)Since 1893ReligionEIN 25-0522060

The mission of gcu (f/k/a the greek catholic union of the USA) is to provide financial and fraternal benefits to its members and to educate members on greek culture and heritage.

501(c)(8) charity; gifts are tax-deductible.
$2.3M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Pay: Part VII

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(8)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $16.5M a year · 4% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Pay to officers and key staff
$2.3M
to officers and key staff · 0.5% of spending
Looks good: pay to officers and key staff is 0% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
1 mo
of spending, in cash
Fine: 1.0 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$2.5B
92% of total assets
Concern: liabilities are 92% of assets; over 80%.
Pt X · Ln 26
Independent board members
11
of 11 voting members
Looks good: 11 of 11 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$486.4M
-3% vs prior year
Spent
$480.8M
Net assets
$221.3M
By yearFY2020–FY2024
Revenue
$486.4M
FY2023▼ -3%
Revenue by fiscal year
FY2020$358.2M
FY2021$428.9M
FY2022$502.7M
FY2023$486.4M
FY2024$501.1M
Expenses
$480.8M
FY2023▼ -2%
Expenses by fiscal year
FY2020$326.5M
FY2021$392.3M
FY2022$488.3M
FY2023$480.8M
FY2024$506.8M
Net assets
$221.3M
FY2023▲ +0.8%
Net assets by fiscal year
FY2020$182.6M
FY2021$209.2M
FY2022$219.5M
FY2023$221.3M
FY2024$207.0M

From the FY2023 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jul 1938.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

23 people listed on the 990; $2.3M paid to officers and key staff.

Part VII, Section A · reportable compensation
President/CEO
$433,107Pt VII · Sec A
$330,150Pt VII · Sec A
Executive VP & COO
$279,170Pt VII · Sec A
Key Employee
$155,614Pt VII · Sec A
$151,408Pt VII · Sec A
Key Employee
$146,409Pt VII · Sec A
Key Employee
$139,408Pt VII · Sec A
Key Employee
$107,029Pt VII · Sec A

George N Juba’s $425K as President/CEO is at the 50th percentile of top reported officer pay among 18 $100M+ religion nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
George N Juba$424,561$433,107$379,402$339,246$347,451
Timothy Demetres$324,513$330,150$309,095$275,461$282,363
John Peter Harbist$282,200$101,000$102,147——
Scott Schuetz—$279,170$260,913$240,478$260,823
William Schulok$162,163$155,614$154,300$140,878—
Bryan T O'Shaughnessy$156,353$151,408$101,844——
Jeffrey Alan Long$149,575$146,409$132,243——
Jeremy Nichols$145,145$139,408$142,951$127,402—

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Gcu executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Offers financial and fraternal benefits, educating members on Greek culture and heritage.

Provided by the organization

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1 program service, described in the organization's own filed words · FY2023.
01

As of 12/31/23, there were 27,357 life insurance policies in force with $371,793,000 of insurance. There were also 36,566 annuity contracts in force with a value of $2,313,365,000. Both life insurance policies and annuity contracts support our members and the profits therefrom serve as the foundation for our community-based programs.

Pt IX · col B

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · this organization's grantmaking
Grants paid · 9 grants · $542K · 2020–2024
Unitemized GrantFY2024$88,250
Unitemized GrantFY2024$10,000
Unitemized GrantFY2023$99,300
Unitemized GrantFY2023$16,000
Unitemized GrantFY2022$111,900
Unitemized GrantFY2022$22,000
Unitemized GrantFY2021$77,100
Unitemized GrantFY2021$33,500
Unitemized GrantFY2020$83,650

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$486.4M
Ln 12
Fees for servicesLn 2g$370.8M
Investment incomeLn 3$115.3M
Other incomeLn 4–11$326K
Money outPt IX
$480.8M
Ln 25
Owns and owesPt X
$221.3M
net assets · Ln 32
Cash and savingsLn 1–2$38.5M
Total assetsLn 16$2.7B
LiabilitiesLn 26$2.5B
PeoplePt VI, VII
23
listed · VII A
PaidVII A23
Voting boardVI 1a11
IndependentVI 1b11
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$370.8M
Investment incomeLn 3$115.3M
Other incomeLn 4–11$326K
Gains on assetsLn 7−$4.8M
Total revenueLn 12$486.4M
Assets in detailPt X, end of year
CashLn 1$38.5M
Cash and savings togetherLn 1–2$38.5M
InvestmentsLn 11–13$2.62B
Land, buildings, equipmentLn 10c$14.7M
Other assetsLn 15$31.8M
Total assetsLn 16$2.7B
LiabilitiesLn 26$2.5B
Net assetsLn 32$221.3M
OperationsPt I, VI
EmployeesI 597
VolunteersI 61,400
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$15.6M$38.5M
InvestmentsLn 11–13$2.58B$2.62B
Land, buildings, equipmentLn 10c$15.1M$14.7M
Total assetsLn 16$2.64B$2.70B
LiabilitiesLn 26$2.42B$2.48B
Net assetsLn 32$219.5M$221.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$115K
Benefits paid to or for membersLn 4$396.0M
Pay of current officers, directors and key staffLn 5$1.6M
Other salaries and wagesLn 7$3.3M
Pension plan contributionsLn 8$194K
Other employee benefitsLn 9$574K
Payroll taxesLn 10$278K
Legal feesLn 11b$61K
Accounting feesLn 11c$324K
Investment management feesLn 11f$1.1M
Other fees for servicesLn 11g$436K
Advertising and promotionLn 12$45K
Office expensesLn 13$135K
Information technologyLn 14$524K
OccupancyLn 16$237K
TravelLn 17$101K
Conferences, conventions and meetingsLn 19$53K
InterestLn 20$354K
Depreciation, depletion and amortizationLn 22$10K
InsuranceLn 23$57K
Other expenses (24a–d)Ln 24$73.9M
All other expensesLn 24e$1.4M
Total functional expensesLn 25$480.8M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $501.1M$506.8M−$5.7M$207.0M 990 PDF
FY2023 Viewing $486.4M$480.8M$5.6M$221.3M 990 PDF
FY2022 $502.7M$488.3M$14.4M$219.5M 990 PDF
FY2021 $428.9M$392.3M$36.6M$209.2M 990 PDF
FY2020 $358.2M$326.5M$31.7M$182.6M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2023 990 (4 parts)
Part VIII · Statement of revenue $486,414,629 across 6 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $370,817,002$370,817,002
VIII-3 Investment incomeRelated to mission $120,090,977$120,090,977
VIII-6 Net rental income or lossRelated to mission $288,279$288,279
VIII-7 Net gain or loss on sales of assetsRelated to mission −$4,818,890−$4,818,890
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $37,261$37,261
VIII-12 Total revenueRelated to mission $486,414,629 · Unrelated business $0 · Excluded from tax $0$486,414,629
Part IX · Statement of functional expenses $480,785,158 across 22 lines filed
IX-2 Grants to domestic individuals$115,300
IX-4 Benefits paid to or for members$396,022,617
IX-5 Pay of current officers, directors and key staff$1,557,940
IX-7 Other salaries and wages$3,316,501
IX-8 Pension plan contributions$193,956
IX-9 Other employee benefits$574,204
IX-10 Payroll taxes$278,103
IX-11b Legal fees$60,843
IX-11c Accounting fees$323,647
IX-11f Investment management fees$1,146,381
IX-11g Other fees for services$436,145
IX-12 Advertising and promotion$44,779
IX-13 Office expenses$134,749
IX-14 Information technology$524,100
IX-16 Occupancy$236,846
IX-17 Travel$100,969
IX-19 Conferences, conventions and meetings$53,021
IX-20 Interest$354,176
IX-22 Depreciation, depletion and amortization$9,735
IX-23 Insurance$57,081
IX-24 Other expenses (24a–d)$73,865,094
IX-24e All other expenses$1,378,971
IX-25 Total functional expenses$480,785,158
Part X · Balance sheet $2,704,690,458 assets, 12 lines filed
Asset lines not itemized here account for $114,536; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $15,575,381$38,456,736
X-4 Accounts receivableStart of year $126,717$227,646
X-10c Land, buildings and equipment, netStart of year $15,059,190$14,657,824
X-11 Publicly traded securitiesStart of year $2,519,543,176$2,544,710,547
X-12 Other securitiesStart of year $61,130,236$74,730,503
X-15 Other assetsStart of year $30,260,988$31,792,666
X-16 Total assetsStart of year $2,641,748,390$2,704,690,458
X-17 Accounts payable and accrued expensesStart of year $4,537,178$4,567,002
X-25 Other liabilitiesStart of year $2,417,727,582$2,478,816,784
X-26 Total liabilitiesStart of year $2,422,264,760$2,483,383,786
X-32 Total net assets or fund balancesStart of year $219,483,630$221,306,672
X-33 Total liabilities and net assetsStart of year $2,641,748,390$2,704,690,458
Part XI · Reconciliation of net assets $221,306,672 net assets at year end
XI-1 Total revenue$486,414,629
XI-2 Total expenses$480,785,158
XI-3 Revenue less expenses$5,629,471
XI-4 Net assets at start of year$219,483,630
XI-5 Net unrealized gains (losses) on investments$7,232,407
XI-9 Other changes in net assets−$11,038,836
XI-10 Net assets at end of year$221,306,672

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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