Everence Association INC FY2021 filing

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Everence Association INC helps people and groups integrate their finances with faith values through its insurance and financial services.

501(c)(8) fraternal beneficiary society; gifts are not tax-deductible as charitable contributions.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78

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FY2021 · 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
No
Donations are not tax-deductible
Worth a look: the IRS does not list 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
1 of 5
filings with a surplus
Average deficit $2.9M a year · 4% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
1 mo
of spending, in cash
Plus $396.5M in investments, Pt X · Ln 11–13
Fine: 1.3 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $1K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$292.6M
72% of total assets
Worth a look: liabilities are 72% of assets; over 65%.
Pt X · Ln 26
Independent board members
13
of 13 voting members
Looks good: 13 of 13 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$69.2M
-0.1% vs prior year
Spent
$69.7M
Net assets
$114.8M
By yearFY2020–FY2024
Revenue
$69.2M
FY2021-0.1%
Tap a bar for its year
Revenue by fiscal year
FY2020$69.3M
FY2021$69.2M
FY2022$76.7M
FY2023$85.1M
FY2024$81.8M
Expenses
$69.7M
FY2021▲ +5%
Tap a bar for its year
Expenses by fiscal year
FY2020$66.2M
FY2021$69.7M
FY2022$79.2M
FY2023$93.4M
FY2024$88.1M
Net assets
$114.8M
FY2021▲ +1%
Tap a bar for its year
Net assets by fiscal year
FY2020$113.6M
FY2021$114.8M
FY2022$108.8M
FY2023$102.4M
FY2024$104.0M

From the FY2021 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Oct 1967.

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

Who runs it and what they're paid

26 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Financial Consultant
$0Pt VII · Sec A
Financial Consultant
$0Pt VII · Sec A
Financial Consultant
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
Financial Consultant
$0Pt VII · Sec A
Financial Consultant
$0Pt VII · Sec A
See Everence Association INC 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

Provides faith-based financial services, insurance, and stewardship education to help individuals and churches align their money with their religious values.

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3 programs · in their own filed words · FY2021
01

Everence association inc helps individuals, organizations, and congregations integrate finances with faith through a national team of consultants and representatives. Everence offers life, annuity, accident, and health insurance coverage to members of the mennonite church and related anabaptist institutions. Continued below.

Pt IX · col B
02

Continue to enhance current fraternal grant programs and their usage in the constituency. Number of grants in 2021 was 1,595. Continue building a support system of training, providing resources for, and engaging active advocates (volunteers). There were 1,152 advocates serving in 2021. Continued below.

Pt IX · col B
03

Encourage stewardship in the everence association constituency. Stewardship education includes stewardship university, speakers for workshops and retreats, and educational resources. In 2021 there were 438 churches using educational materials or seminars.

Pt IX · col B

Funders

Who pays for it.

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

Grants

Schedule I · received and paid
Grants received · FY2024
Total grants receivedfrom 1 funder$1K
Grants paid · 51 grants · $9.0M · 2020–2024
Unitemized GrantFY2024$990,000
Mma Distribution INCFY2024$836,752
Mennonite Church USA INCIN · FY2024$285,348
Everence Trust CompanyFY2024$120,000
Unitemized GrantFY2024$49,000
Unitemized GrantFY2024$3,900
Unitemized GrantFY2024$2,000
Mma Distribution INCFY2023$804,569
Unitemized GrantFY2023$746,265
Mennonite Church USA INCIN · FY2023$253,952
Everence Trust CompanyFY2023$120,000
Unitemized GrantFY2023$48,500
Crossnet MinistriesPA · FY2023$10,627
Lancaster Mennonite SchoolPA · FY2023$10,000
Mennonite Mission NetworkIN · FY2023$7,500
Greencroft FoundationFY2023$6,700
See all 51 grants →

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$69.2M
Ln 12
Fees for servicesLn 2g$68.2M
Gifts and grantsLn 1h$983K
Money outPt IX
$69.7M
Ln 25
Owns and owesPt X
$114.8M
net assets · Ln 32
Cash and savingsLn 1–2$7.7M
Total assetsLn 16$407.4M
LiabilitiesLn 26$292.6M
PeoplePt VI, VII
26
listed · VII A
PaidVII A0
Voting boardVI 1a13
IndependentVI 1b13
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$983K
Fees for servicesLn 2g$68.2M
Gains on assetsLn 7−$700
Total revenueLn 12$69.2M
Assets in detailPt X, end of year
CashLn 1$0
SavingsLn 2$7.7M
Cash and savings togetherLn 1–2$7.7M
InvestmentsLn 11–13$396.5M
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$3.1M
Total assetsLn 16$407.4M
LiabilitiesLn 26$292.6M
Net assetsLn 32$114.8M
OperationsPt I, VI
EmployeesI 542
VolunteersI 61,151
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 FY21End FY21
Cash and savingsLn 1–2$18.4M$7.7M
InvestmentsLn 11–13$395.7M$396.5M
Land, buildings, equipmentLn 10c$0$0
Total assetsLn 16$417.3M$407.4M
LiabilitiesLn 26$303.7M$292.6M
Net assetsLn 32$113.6M$114.8M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$2.4M
Grants to domestic individualsLn 2$872K
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$45.6M
Pay of current officers, directors and key staffLn 5$0
Pay of disqualified personsLn 6$101K
Other salaries and wagesLn 7$6.9M
Pension plan contributionsLn 8$891K
Other employee benefitsLn 9$90K
Payroll taxesLn 10$203K
Management feesLn 11a$0
Legal feesLn 11b$11K
Accounting feesLn 11c$119K
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$1.1M
Other fees for servicesLn 11g$7.1M
Advertising and promotionLn 12$165K
Office expensesLn 13$797K
Information technologyLn 14$2.0M
RoyaltiesLn 15$0
OccupancyLn 16$484K
TravelLn 17$385K
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$58K
InterestLn 20$0
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$138K
InsuranceLn 23$149K
Other expenses (24a–d)Ln 24$149K
Total functional expensesLn 25$69.7M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $81.8M$88.1M−$6.3M$104.0M 990 PDF
FY2023 $85.1M$93.4M−$8.2M$102.4M 990 PDF
FY2022 $76.7M$79.2M−$2.5M$108.8M 990 PDF
FY2021 Viewing $69.2M$69.7M−$566K$114.8M 990 PDF
FY2020 $69.3M$66.2M$3.1M$113.6M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary $69,175,767 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,041,256$982,858
I-9 Program service revenuePrior year $67,669,428$68,193,609
I-10 Investment incomePrior year $561,991−$700
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $69,272,675$69,175,767
I-13 Grants and similar amounts paidPrior year $4,207,734$3,262,692
I-14 Benefits paid to membersPrior year $42,651,858$45,643,756
I-15 Salaries and benefitsPrior year $8,083,665$8,182,247
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $11,239,678$12,653,537
I-18 Total expensesPrior year $66,182,935$69,742,232
I-19 Revenue less expensesPrior year $3,089,740−$566,465
Part VI · Governance 13 of 13 board members independent, no flags
VI-1a Voting members of the governing body13
VI-1b Independent voting members13
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $69,175,767 across 9 lines filed
Lines not itemized here account for $81,450 of total revenue; see the IRS return.
VIII-1f All other contributions, gifts and grants$982,858
VIII-1h Total contributions, gifts and grants$982,858
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $68,112,159$68,112,159
VIII-3 Investment income$0
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assetsRelated to mission −$700−$700
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission $68,192,909$69,175,767
Part IX · Statement of functional expenses $69,742,232 across 30 lines filed
IX-1 Grants to domestic organizations$2,390,442
IX-2 Grants to domestic individuals$872,250
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$45,643,756
IX-5 Pay of current officers, directors and key staff$0
IX-6 Pay of disqualified persons$100,745
IX-7 Other salaries and wages$6,897,452
IX-8 Pension plan contributions$891,119
IX-9 Other employee benefits$89,804
IX-10 Payroll taxes$203,127
IX-11a Management fees$0
IX-11b Legal fees$11,375
IX-11c Accounting fees$119,306
IX-11d Lobbying fees$0
IX-11f Investment management fees$1,077,084
IX-11g Other fees for services$7,125,198
IX-12 Advertising and promotion$164,599
IX-13 Office expenses$796,517
IX-14 Information technology$1,995,897
IX-15 Royalties$0
IX-16 Occupancy$483,551
IX-17 Travel$385,284
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$58,250
IX-20 Interest$0
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortization$138,234
IX-23 Insurance$148,851
IX-24 Other expenses (24a–d)$149,391
IX-25 Total functional expenses$69,742,232
Part X · Balance sheet $407,395,698 assets, 22 lines filed
X-1 Cash, non-interest-bearingStart of year $0$0
X-2 Savings and temporary cash investmentsStart of year $18,382,501$7,722,676
X-3 Pledges and grants receivableStart of year $0$0
X-4 Accounts receivableStart of year $24,339$3,537
X-8 Inventories for sale or useStart of year $0$0
X-9 Prepaid expenses and deferred chargesStart of year $45,884$45,449
X-10c Land, buildings and equipment, netStart of year $0$0
X-11 Publicly traded securitiesStart of year $294,346,378$291,333,114
X-12 Other securitiesStart of year $0$0
X-13 Program-related investmentsStart of year $101,327,851$105,169,598
X-14 Intangible assetsStart of year $0$0
X-15 Other assetsStart of year $3,153,470$3,121,324
X-16 Total assetsStart of year $417,280,423$407,395,698
X-17 Accounts payable and accrued expensesStart of year $2,129,715$3,568,334
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $1,637,402$1,658,294
X-20 Tax-exempt bond liabilitiesStart of year $0$0
X-24 Unsecured notes and loans payableStart of year $0$0
X-25 Other liabilitiesStart of year $299,906,351$287,412,743
X-26 Total liabilitiesStart of year $303,673,468$292,639,371
X-32 Total net assets or fund balancesStart of year $113,606,955$114,756,327
X-33 Total liabilities and net assetsStart of year $417,280,423$407,395,698
Part XI · Reconciliation of net assets $114,756,327 net assets at year end
XI-1 Total revenue$69,175,767
XI-2 Total expenses$69,742,232
XI-3 Revenue less expenses−$566,465
XI-4 Net assets at start of year$113,606,955
XI-9 Other changes in net assets$1,715,837
XI-10 Net assets at end of year$114,756,327

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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