William Penn Association

Tax-deductible

Pittsburgh, PA501(c)(8)Since 1886EIN 25-0856580

To provide life insurance, annuities and other fraternal benefits to members of the william penn association.

501(c)(8) charity; gifts are tax-deductible.
$1.1M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Pay: Part VII

Before you give

FY2024 · 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
5 of 5
filings with a surplus
Average surplus $4.0M a year · 6% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Pay to officers and key staff
$1.1M
to officers and key staff · 2% of spending
Looks good: pay to officers and key staff is 2% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.7 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$460.3M
90% of total assets
Concern: liabilities are 90% of assets; over 80%.
Pt X · Ln 26
Independent board members
0
of 7 voting members
Concern: none of 7 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$70.6M
+40% vs prior year
Spent
$68.5M
Net assets
$51.4M
By yearFY2020–FY2024
Revenue
$70.6M
FY2024▲ +40%
Revenue by fiscal year
FY2020$61.8M
FY2021$86.3M
FY2022$62.4M
FY2023$50.6M
FY2024$70.6M
Expenses
$68.5M
FY2024▲ +50%
Expenses by fiscal year
FY2020$59.8M
FY2021$80.5M
FY2022$57.2M
FY2023$45.6M
FY2024$68.5M
Net assets
$51.4M
FY2024▲ +4%
Net assets by fiscal year
FY2020$38.7M
FY2021$44.6M
FY2022$47.5M
FY2023$49.6M
FY2024$51.4M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in May 1950.

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

Who runs it and what they're paid

12 people listed on the 990; $1.1M paid to officers and key staff.

Part VII, Section A · reportable compensation
President/CEO as of 6/5/24
$192,808Pt VII · Sec A
President/CEO Retired 6/4/24
$175,160Pt VII · Sec A
Chief Operating Officer
$162,970Pt VII · Sec A
Chief Information Security
$149,071Pt VII · Sec A
Chief Administrative Offic
$148,198Pt VII · Sec A
Chief Financial Officer 6/11/24
$130,704Pt VII · Sec A
Vice Chair of the Board
$28,760Pt VII · Sec A
Chair of the Board
$28,209Pt VII · Sec A

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

NameFY2024FY2023FY2022FY2021FY2020
George S Charles JR$175,160$222,506$222,407$202,106$180,436
Diane M Torma$192,808$152,918$153,027$143,795$132,959
Steven F Charles$162,970$141,118$133,465$123,614—
John Bosi$149,071$114,057———
Cassandra Holmes$148,198$141,838$133,383$123,306$104,955
Robert G Bisceglia——$131,426$141,603$121,166
Adam C Sedar$130,704————
Steven Frederic Charles————$106,215

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 William Penn Association executive salaries →

Are you one of these people? Claim this org to confirm your role

Questions the 990 asks

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

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Offers life insurance, annuities, and other benefits to members.

Provided by the organization

This section is blank until William Penn Association claims this page.

Know this organization? Claim it to add your story

1 program service, described in the organization's own filed words · FY2024.
01

Life insurance, annuities, and other fraternal benefits (23,626 certificates in force; $320,807,980 of life insurance policies in force).

Pt IX · col B

Run this program? Claim this org to tell your story

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$70.6M
Ln 12
Fees for servicesLn 2g$44.9M
Investment incomeLn 3$25.4M
Other incomeLn 4–11$291K
Money outPt IX
$68.5M
Ln 25
Owns and owesPt X
$51.4M
net assets · Ln 32
Cash and savingsLn 1–2$4.2M
Total assetsLn 16$511.7M
LiabilitiesLn 26$460.3M
PeoplePt VI, VII
12
listed · VII A
PaidVII A12
Voting boardVI 1a7
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$44.9M
Investment incomeLn 3$25.4M
Other incomeLn 4–11$291K
Gains on assetsLn 7$506K
Total revenueLn 12$70.6M
Assets in detailPt X, end of year
CashLn 1$1.7M
SavingsLn 2$2.5M
Cash and savings togetherLn 1–2$4.2M
InvestmentsLn 11–13$500.5M
Land, buildings, equipmentLn 10c$784K
Other assetsLn 15$6.2M
Total assetsLn 16$511.7M
LiabilitiesLn 26$460.3M
Net assetsLn 32$51.4M
OperationsPt I, VI
EmployeesI 526
VolunteersI 60
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 FY24End FY24
Cash and savingsLn 1–2$1.3M$4.2M
InvestmentsLn 11–13$516.4M$500.5M
Land, buildings, equipmentLn 10c$799K$784K
Total assetsLn 16$524.9M$511.7M
LiabilitiesLn 26$475.3M$460.3M
Net assetsLn 32$49.6M$51.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Benefits paid to or for membersLn 4$77.7M
Pay of current officers, directors and key staffLn 5$1.2M
Other salaries and wagesLn 7$947K
Pension plan contributionsLn 8$129K
Other employee benefitsLn 9$257K
Payroll taxesLn 10$166K
Legal feesLn 11b$102K
Accounting feesLn 11c$76K
Advertising and promotionLn 12$6K
OccupancyLn 16$227K
TravelLn 17$74K
Conferences, conventions and meetingsLn 19$159
Depreciation, depletion and amortizationLn 22$63K
InsuranceLn 23$70K
Other expenses (24a–d)Ln 24$2.1M
All other expensesLn 24e−$14.6M
Total functional expensesLn 25$68.5M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $70.6M$68.5M$2.1M$51.4M 990 PDF
FY2023 $50.6M$45.6M$5.0M$49.6M 990 PDF
FY2022 $62.4M$57.2M$5.2M$47.5M 990 PDF
FY2021 $86.3M$80.5M$5.8M$44.6M 990 PDF
FY2020 $61.8M$59.8M$1.9M$38.7M 990 PDF

Want to add your own materials alongside these filings? Claim this org

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 FY2024 990 (4 parts)
Part VIII · Statement of revenue $70,565,517 across 5 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $44,873,384$44,873,384
VIII-3 Investment incomeRelated to mission $24,895,250$24,895,250
VIII-7 Net gain or loss on sales of assetsRelated to mission $505,769$505,769
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $291,114$291,114
VIII-12 Total revenueRelated to mission $70,565,517 · Unrelated business $0 · Excluded from tax $0$70,565,517
Part IX · Statement of functional expenses $68,503,798 across 16 lines filed
IX-4 Benefits paid to or for members$77,681,478
IX-5 Pay of current officers, directors and key staff$1,244,145
IX-7 Other salaries and wages$947,025
IX-8 Pension plan contributions$128,708
IX-9 Other employee benefits$256,949
IX-10 Payroll taxes$165,813
IX-11b Legal fees$102,365
IX-11c Accounting fees$75,722
IX-12 Advertising and promotion$5,721
IX-16 Occupancy$226,651
IX-17 Travel$73,874
IX-19 Conferences, conventions and meetings$159
IX-22 Depreciation, depletion and amortization$63,339
IX-23 Insurance$70,237
IX-24 Other expenses (24a–d)$2,069,349
IX-24e All other expenses−$14,607,737
IX-25 Total functional expenses$68,503,798
Part X · Balance sheet $511,705,719 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $980,359$1,699,000
X-2 Savings and temporary cash investmentsStart of year $321,974$2,489,886
X-4 Accounts receivableStart of year $1,094$567
X-10c Land, buildings and equipment, netStart of year $798,686$784,097
X-11 Publicly traded securitiesStart of year $514,272,711$498,278,899
X-13 Program-related investmentsStart of year $2,098,120$2,210,051
X-15 Other assetsStart of year $6,431,617$6,243,219
X-16 Total assetsStart of year $524,904,561$511,705,719
X-17 Accounts payable and accrued expensesStart of year $581,901$453,891
X-25 Other liabilitiesStart of year $474,690,420$459,828,543
X-26 Total liabilitiesStart of year $475,272,321$460,282,434
X-32 Total net assets or fund balancesStart of year $49,632,240$51,423,285
X-33 Total liabilities and net assetsStart of year $524,904,561$511,705,719
Part XI · Reconciliation of net assets $51,423,285 net assets at year end
XI-1 Total revenue$70,565,517
XI-2 Total expenses$68,503,798
XI-3 Revenue less expenses$2,061,719
XI-4 Net assets at start of year$49,632,240
XI-5 Net unrealized gains (losses) on investments$765,830
XI-9 Other changes in net assets−$1,036,504
XI-10 Net assets at end of year$51,423,285

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

Similar organizations you could support · Compare with another nonprofit

Names, privacy, and removal requests More

The names, titles, and compensation shown on this page are reproduced from IRS Form 990 filings, which are public records.

Philanthropy.org does not alter the content of those filings. All information appears exactly as reported by the filing organization for the tax year shown.

We publish only information contained in the public IRS filing — and less than the filing contains. Our profile pages do not display street addresses, telephone numbers, personal email addresses, or other personal contact information, even where the filing includes them.

Many people share the same name. A name shown on this page reflects only what one organization reported in one IRS filing for one tax year. It should not be interpreted as identifying any other individual with the same or a similar name.

If you are no longer affiliated with the organization, your name will generally stop appearing in future IRS filings once the organization no longer reports you. Pages for tax years in which you were reported remain published because those filings remain part of the public record.

Philanthropy.org does not alter or remove IRS filing records. Removing a page from this website would not remove the underlying IRS filing, which remains publicly available from the IRS and other publishers of the same information.

If you believe the IRS filing itself is inaccurate, corrections must be made by the filing organization or the IRS directly.

If you ARE the filing organization, claim this org and add context

Made it to the end? Claim this organization

Keep this kind of thing free
Keep public charity data easy to read.

Free to the public, because obviously. Like this? Pay it forward. Don't like this? Help us get better.

Card, Apple Pay or Google Pay through Stripe. One time.
Keep this kind of thing free
Keep public charity data easy to read.

Free to the public, because obviously. Like this? Pay it forward. Don't like this? Help us get better.

Card, Apple Pay or Google Pay through Stripe. One time.

All figures are derived from public IRS Form 990 filings and are presented without evaluation of any organization. philanthropy.org does not rate, score, or rank organizations, including the pay comparisons above.