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Nonprofiteer
← INDEPENDENT ORDER OF FORESTERS

Form 990 for tax year 2022

Filed by INDEPENDENT ORDER OF FORESTERS.

Totals

Total revenue
$843,418,120
Total expenses
$756,949,204
Contributions and grants received
$0
Grants paid
$8,287,044
Program service revenue
$739,836,317
Investment income
-$809,198,494
Other revenue
$912,780,297
Total assets, end of year
$5,126,809,799
Total liabilities, end of year
$3,589,783,829
Net assets or fund balances, end of year
$1,537,025,970
Program services expenses (Part IX)
$756,949,204
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$756,949,204

Program services were 100.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: Premium & Annuity Consideration

    total $739,836,317 · related or exempt $0 · unrelated business $0 · excluded $739,836,317

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total -$809,198,494 · related or exempt $0 · unrelated business $0 · excluded -$809,198,494

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11a · Other revenue: Other income

    total -$28,645,969 · related or exempt $0 · unrelated business $0 · excluded -$28,645,969

  • 11b · Other revenue: Other comprehensive income

    total -$78,801,199 · related or exempt $0 · unrelated business $0 · excluded -$78,801,199

  • 11c · Other revenue: Change in insurance contract liabilities

    total $1,020,227,465 · related or exempt $0 · unrelated business $0 · excluded $1,020,227,465

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $912,780,297

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,227,488 · program services $2,227,488

  • 2 · Grants to domestic individuals

    total $3,455,741 · program services $3,455,741

  • 3 · Grants to foreign organizations and individuals

    total $2,603,815 · program services $2,603,815

  • 4 · Benefits paid to or for members

    total $495,380,005 · program services $495,380,005

  • 5 · Compensation of officers, directors and key employees

    total $19,187,730 · program services $19,187,730

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $56,659,246 · program services $56,659,246

  • 8 · Pension plan contributions

    total $795,028 · program services $795,028

  • 9 · Other employee benefits

    total $8,527,510 · program services $8,527,510

  • 10 · Payroll taxes

    total $4,466,391 · program services $4,466,391

  • 11b · Fees: legal

    total $918,953 · program services $918,953

  • 11c · Fees: accounting

    total $4,229,189 · program services $4,229,189

  • 12 · Advertising and promotion

    total $1,079,746 · program services $1,079,746

  • 13 · Office expenses

    total $6,001,164 · program services $6,001,164

  • 14 · Information technology

    total $31,447,082 · program services $31,447,082

  • 16 · Occupancy

    total $81,114 · program services $81,114

  • 17 · Travel

    total $1,226,954 · program services $1,226,954

  • 19 · Conferences, conventions and meetings

    total $2,468,931 · program services $2,468,931

  • 22 · Depreciation, depletion and amortization

    total $6,178,240 · program services $6,178,240

  • 23 · Insurance

    total $2,474,337 · program services $2,474,337

  • 24a · Other expenses: Medical fees

    total $7,193,597 · program services $7,193,597 · management and general $0 · fundraising $0

  • 24b · Other expenses: Commission on premiums

    total $90,902,943 · program services $90,902,943 · management and general $0 · fundraising $0

  • 24c · Other expenses: General expenses

    total $9,435,600 · program services $9,435,600 · management and general $0 · fundraising $0

  • 24e · All other expenses

    total $8,400 · program services $8,400

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $30,367,967 · end of year $26,529,438

  • 2 · Savings and temporary cash investments

    beginning of year $33,246,815 · end of year $110,597,610

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $31,926,090 · end of year $32,121,145

  • 5 · Loans and receivables from officers and key people

    beginning of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $199,931,946 · end of year $343,691,899

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $7,607,027 · end of year $2,855,246

  • 10a · Land, buildings and equipment: cost or other basis

    $10,830,751

  • 10b · Land, buildings and equipment: accumulated depreciation

    $8,382,027

  • 10c · Land, buildings and equipment, net

    beginning of year $64,975,864 · end of year $2,448,724

  • 11 · Investments: publicly traded securities

    beginning of year $4,581,341,299 · end of year $3,476,100,044

  • 12 · Investments: other securities

    beginning of year $274,419,562 · end of year $193,770,105

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $16,435,863 · end of year $25,630,810

  • 15 · Other assets

    beginning of year $889,085,227 · end of year $913,064,778

  • 17 · Accounts payable and accrued expenses

    beginning of year $17,805,650 · end of year $18,510,403

  • 25 · Other liabilities

    beginning of year $4,552,013,928 · end of year $3,571,273,426

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $1,559,518,082 · end of year $1,537,025,970

Mission and programs · 2022

Mission

Foresters Common Bond informs its purpose is to champion the well-being of its members, their families and communities where they live, which it does through quality life insurance, unique member benefits, and inspiring community activities. Foresters is governed by its members.

Activities or mission (Part I)

Foresters is a fraternal benefit society that provides financial services products and unique benefits to its members and their families. Through its member-governed Branch network, Foresters members are provided opportunities to organize and participate in local volunteer activities and family-focused events. Within this model of community service, Foresters lives its purpose of enhancing the well-being of its members, their families and their local communities.

  • Insurance Benefits: Foresters provided Insurance Benefits, including life, health and annuity benefits, for approximately 2,447,407 members across the United States, Canada and the United Kingdom. The cost for providing such membership benefits was approximately $733 million, excluding changes in actuarial reserves.

    Expenses $733,561,823

  • Fraternal Benefits and Grants: Foresters provide its members, at no additional cost, with a variety of fraternal benefits outside of the traditional insurance benefits described above. These benefits demonstrate Foresters commitment to the purpose of assisting members, enhancing their well-being, and benefiting their communities. These benefits provide aid in times of trouble, illness or need. The following programs were funded by Foresters for its members. * Scholarship Program (US/Canada/UK) - Foresters granted 287 new scholarships valued at $2,500/year in local currency in North America and £1,000/year in the UK, to members, their spouses, children and grandchildren. This benefit was awarded based upon academic credentials and participation in charitable and philanthropic activities. Foresters provided approximately $870,650 towards the scholarship program in 2022. * Lifelong Learning/LawAssure (US/Canada/UK) - Foresters provided these two personal assistance benefits to Foresters members who are seeking learning & development in areas such as but not limited to financial planning, health & wellness, and professional development... as well as access to an online document preparation tool to support in documental creation such as Wills & Power of Attorney". o Lifelong Learning allows Foresters members to explore learning opportunities through a customizable online platform where they can learn at their own pace and track their progress. Lifelong Learning provides members with access to over 200 in-demand, personal development courses and is offered to Foresters members in all geographic areas. It cost approximately $144,535 to fund this benefit in 2022. o LawAssure is an online document preparation service that gives you access to customizable documents, making it simple and convenient. Members can create customizable wills, powers of attorney and healthcare directives from the comfort of their own home. It cost approximately $187,830 to fund this benefit in 2022. * Connected Health Program/Foresters Go Dacadoo (US/Canada/UK) - Foresters Go is digital wellness app based benefit where members can proactively track their diet and fitness habits using different wellness features and earn reward points. Purpose & Community (P&C) is a purpose-driven section of this member benefit designed to reward members and boost their wellbeing through volunteering. In 2022, over 6,261 participated in the Foresters Go program and earned rewards points from downloading and registering the Foresters Go app, from promotions and in-app activities and challenges. It cost over $1.3 million to fund this program in 2022. * Critical/Terminal Illness benefits (US/Canada) - In 2022, 165 Foresters members received approximately $609,860 in critical illness benefits to help defray the cost of health care. * Orphan Benefits (US/Canada) - In 2022, Foresters provided approximately $173,200 to legal guardians for care and support of orphans. Additionally, orphans received four years college scholarships. * Senior Member Benefits (US/Canada) - Foresters provided complete residential housing and/board for 44 of its most needy members at two retirement homes. In 2022, approximately $1.13 million in services were provided. * Funding Local Community Activities (US/Canada/UK) - In 2022, Foresters contributed approximately $2.95 million to the Branch Network in the US, UK and Canada. These funds are held in trust in separate accounts and is administered by the Foresters staff on behalf of Foresters Branches in the US, UK and Canada. Members can apply for these funds to carry out fraternal and community volunteer activities. In 2022, 2,929 activities took place engaging 35,032 members. These funds were used to organize community involvement activities that responded to a real need in a member's community supporting charitable organizations such as children's hospitals, local Boys and Girl Clubs. Related to this initiative, Foresters also supports strengthening families by allowing members to apply for funding to organize fun-family activities in their communities. The funds held in the Branch Network are used to support these types of activities as well.

    Expenses $11,927,303

  • Foresters Community Partnerships: Every year, Foresters offers direct support to charities that enhance the well-being of families and communities. Partnerships with non-profit organizations like, but not limited to, Whole Kids Foundation, National Clean-Up (Clean Trails), Evergreen Foundation, and Cash for Kids (in the UK) make this possible at a local level. Members work with these organizations, lending their time to improve the quality of life and well-being of local families and their communities. Sustainability Partnerships: * To support giving back to our communities and investing in educating our members and their families on the importance of living a sustainable life, Foresters has partnered with the following organizations: o The Whole Kids Foundation - The Whole Kids Foundation supports children and their families in learning about nutrition and wellness. By partnering with organizations like Foresters, the Whole Kids Foundation helps provide grants for school gardens and organizes sustainability activities like pollinator preservation events. o Evergreen - Evergreen champions sustainable change in communities across Canada to help make cities more livable, green and prosperous. Since 2020, Foresters has partnered with Evergreen to create a series of sustainable gardens at the Evergreen Brick Works site in Toronto, Ontario, that supports pollinators, provides access to nutritious food, and fosters a regenerative ecosystem. o Clean Trails/National Cleanup Day - Clean Trails is a community of people focused on keeping the world's natural spaces and the trails that pass through them clear of litter. National Cleanup Day is an initiative by Clean Trails that calls on people to join or start a cleanup project in their communities. o One Tree Planted - One Tree Planted uses donations from people and businesses to plant trees in areas that need them most to help fight climate change. Individuals can get more directly involved by starting fundraisers or becoming tree ambassadors and organizing their own tree planting initiatives. * In 2022, Foresters invested about $300,000 to support building gardens in member communities across US, UK and Canada. We also planted over 20,000 trees across the 3 countries. Due to the COVID-19 pandemic, we were unable to gather in-person in our typical manner and, as such, saw a smaller spend in partnership dollars than a normal year. Cash for Kids (UK) * Cash for Kids is an umbrella brand for Bauer Radio's network of registered local charities. Since 2009, Foresters has been working with Cash for Kids to provide volunteer opportunities for our members that support children and family time. * In 2022, Foresters provided approximately $29,649 to sponsor the Cash for Kids Mission Christmas campaign. With this support, the campaign raised over £8 million in cash, gifts and toys and helped almost 200,000 children and their families to have a better holiday season. Throughout November and December, Foresters staff hosted virtual events throughout UK, where members and their families created care packages for these disadvantaged children.

    Expenses $11,460,078

As filed on the 2022 return.

Listed in Part VII

  • James R Boyle

    CEO Advisor

    Total calculated
    $2,391,828
    From this org
    $2,391,828
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $295,385
    Bonus
    $0
    Other
    $2,096,443
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $2,391,828

  • Louis Gagnon

    President and Chief Executive Officer

    Total calculated
    $1,594,275
    From this org
    $1,594,275
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $666,257
    Bonus
    $928,016
    Other
    $2
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $1,594,275

  • David Longfritz

    Chief Global Marketing Officer

    Total calculated
    $1,227,128
    From this org
    $1,227,128
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $185,769
    Bonus
    $728,002
    Other
    $313,357
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $1,227,128

  • Mathew Berman

    President, Foresters US

    Total calculated
    $929,210
    From this org
    $929,210
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $359,616
    Bonus
    $542,763
    Other
    $26,830
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $929,209

  • Alvin Sharma

    Global Chief Financial Officer

    Total calculated
    $725,596
    From this org
    $725,596
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $298,223
    Bonus
    $427,371
    Other
    $2
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $725,596

  • Mehul Kapadia

    Global Chief Information Officer

    Total calculated
    $668,109
    From this org
    $668,109
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $346,154
    Bonus
    $308,162
    Other
    $13,794
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $668,110

  • Rene Zanin

    Global Chief Legal Officer & Chief Compliance Officer and Corporate Secretary

    Total calculated
    $559,893
    From this org
    $559,893
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $292,903
    Bonus
    $266,987
    Other
    $2
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $559,892

  • Marcia Mendes-d'Abreu

    Chief Human Resources Officer

    Total calculated
    $530,088
    From this org
    $530,088
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $287,288
    Bonus
    $242,798
    Other
    $2
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $530,088

  • Guarav Upadhya

    Global Chief Actuary & Chief Risk Officer

    Total calculated
    $528,348
    From this org
    $528,348
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $288,470
    Bonus
    $239,876
    Other
    $2
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $528,348

  • Mark Rush

    Chief Distribution Officer, US Sales

    Total calculated
    $476,826
    From this org
    $476,826
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $204,654
    Bonus
    $255,267
    Other
    $16,905
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $476,826

  • Nicole Gourley

    Former Global Chief Membership and Marketing Officer

    Total calculated
    $443,433
    From this org
    $443,433
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $214,741
    Bonus
    $163,330
    Other
    $65,362
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $443,433

  • Jon Stephen McDonald

    Vice President, Special Projects

    Total calculated
    $403,119
    From this org
    $403,119
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $240,456
    Bonus
    $162,660
    Other
    $2
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $403,118

  • Trudy Engel

    Vice President & Chief Valuation Actuary

    Total calculated
    $372,510
    From this org
    $372,510
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $233,554
    Bonus
    $136,963
    Other
    $1,993
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $372,510

  • Bruce Burak

    AVP, US Sales

    Total calculated
    $348,909
    From this org
    $348,909
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $150,000
    Bonus
    $195,957
    Other
    $2,952
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $348,909

  • Parker Brown

    General Counsel, Legal Services

    Total calculated
    $338,613
    From this org
    $338,613
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $209,985
    Bonus
    $126,635
    Other
    $1,993
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $338,613

  • Charles Morrison

    AVP, US Sales

    Total calculated
    $317,741
    From this org
    $317,741
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $135,000
    Bonus
    $179,697
    Other
    $3,044
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $317,741

  • Kelly Steinmetz

    AVP, US Sales

    Total calculated
    $311,807
    From this org
    $311,807
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $135,000
    Bonus
    $173,959
    Other
    $2,848
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $311,807

  • Sujeether Kumareswaran

    Vice President, Actuarial Transformation and IFRS17

    Total calculated
    $311,794
    From this org
    $311,794
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $197,909
    Bonus
    $113,882
    Other
    $2
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $311,793

  • Caroline Rendall

    Vice President, Risk

    Total calculated
    $307,995
    From this org
    $307,995
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $199,092
    Bonus
    $108,901
    Other
    $2
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $307,995

  • Patricia Colavita

    SVP and Chief Internal Auditor

    Total calculated
    $305,434
    From this org
    $305,434
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $192,117
    Bonus
    $113,315
    Other
    $2
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $305,434

  • Ken Adams

    Vice President, Total Rewards

    Total calculated
    $289,817
    From this org
    $289,817
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $189,751
    Bonus
    $100,063
    Other
    $2
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $289,816

  • Douglas Parrott

    Assistant Vice President, Chief Underwriter-North America

    Total calculated
    $258,307
    From this org
    $258,307
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $217,379
    Bonus
    $39,194
    Other
    $1,734
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $258,307

  • Pratibha Canaran

    VP, Global Tax & Financial Initiatives

    Total calculated
    $252,235
    From this org
    $252,235
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $118,952
    Bonus
    $125,295
    Other
    $7,988
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $252,235

  • Clark Wagner

    Investment Professional

    Total calculated
    $245,235
    From this org
    $245,235
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $167,564
    Bonus
    $77,671
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $245,235

  • David Sullivan

    AVP, Claims, Compensation and Contracting

    Total calculated
    $236,042
    From this org
    $236,042
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $199,283
    Bonus
    $35,931
    Other
    $828
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $236,042

  • Meghan Seybold

    Vice President, Talent Management & Business Partners

    Total calculated
    $231,749
    From this org
    $231,749
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $167,171
    Bonus
    $62,585
    Other
    $1,993
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $231,749

  • Daniel J Fortin

    Director

    Total calculated
    $220,500
    From this org
    $220,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

    Schedule J breakdown matched by us

    Base
    $220,500
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $220,500

  • JS Ledoux

    Assistant Vice President, Product Management

    Total calculated
    $216,700
    From this org
    $216,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $179,686
    Bonus
    $37,011
    Other
    $2
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $216,699

  • Christine Tessier

    Chief Investment Officer

    Total calculated
    $216,671
    From this org
    $216,671
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $184,431
    Bonus
    $30,247
    Other
    $1,993
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $216,671

  • Julia Fantilli

    VP, US Customer service and New Business

    Total calculated
    $209,147
    From this org
    $209,147
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $167,289
    Bonus
    $39,865
    Other
    $1,993
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $209,147

  • Gerry Salvatore

    Assistant Vice President, Sales Operations & Business Development

    Total calculated
    $194,956
    From this org
    $194,956
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $166,364
    Bonus
    $28,589
    Other
    $2
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $194,955

  • Lou Gatto

    AVP, Procurement & Vendor Management

    Total calculated
    $189,307
    From this org
    $189,307
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $160,566
    Bonus
    $27,572
    Other
    $1,169
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $189,307

  • Nagesh Chawla

    Assistant Vice President, Enterprise Architecture and Information Security

    Total calculated
    $183,013
    From this org
    $183,013
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $147,679
    Bonus
    $35,332
    Other
    $2
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $183,013

  • Mikhail Groysman

    AVP, Financial Reporting and Research

    Total calculated
    $182,847
    From this org
    $182,847
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $137,128
    Bonus
    $44,019
    Other
    $1,701
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $182,848

  • Wendy Mao

    Assistant Vice President, US Reporting

    Total calculated
    $182,355
    From this org
    $182,355
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $153,605
    Bonus
    $27,860
    Other
    $890
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $182,355

  • Richard P Hennick

    Director

    Total calculated
    $180,300
    From this org
    $180,300
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

    Schedule J breakdown matched by us

    Base
    $180,300
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $180,300

  • Ian Collins

    AVP, North American Market Conduct Compliance and Senior Legal Counsel

    Total calculated
    $178,877
    From this org
    $178,877
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $149,406
    Bonus
    $29,392
    Other
    $79
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $178,877

  • Terence Chan

    Vice President, Finance

    Total calculated
    $177,836
    From this org
    $177,836
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $152,511
    Bonus
    $25,322
    Other
    $2
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $177,835

  • Jeremy Wing

    AVP, Product Actuarial

    Total calculated
    $177,242
    From this org
    $177,242
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $145,970
    Bonus
    $31,270
    Other
    $2
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $177,242

  • Baltej Gill

    Assistant Vice President, Member Experience

    Total calculated
    $177,172
    From this org
    $177,172
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $114,383
    Bonus
    $28,028
    Other
    $34,761
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $177,172

  • Vivian Yip

    Assistant Vice President, Business Planning

    Total calculated
    $176,911
    From this org
    $176,911
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $149,946
    Bonus
    $26,963
    Other
    $2
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $176,911

  • Kris Sarkissian

    AVP, IT Operations

    Total calculated
    $174,614
    From this org
    $174,614
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $150,439
    Bonus
    $24,172
    Other
    $2
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $174,613

  • Wendy A Watson

    Director

    Total calculated
    $151,200
    From this org
    $151,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

    Schedule J breakdown matched by us

    Base
    $151,200
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $151,200

  • Robert Lamoureux

    Director

    Total calculated
    $151,123
    From this org
    $151,123
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

    Schedule J breakdown matched by us

    Base
    $151,123
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $151,123

  • Katherine A Bardswick

    Director

    Total calculated
    $136,692
    From this org
    $136,692
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

    Schedule J breakdown matched by us

    Base
    $136,692
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $136,692

  • Sonia Ameena Boxendale

    Director

    Total calculated
    $135,838
    From this org
    $135,838
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

    Schedule J breakdown matched by us

    Base
    $135,838
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $135,838

  • Robert W Wight

    Director

    Total calculated
    $122,700
    From this org
    $122,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

    Schedule J breakdown matched by us

    Base
    $122,700
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $122,700

  • Michael Lombardi

    Director

    Total calculated
    $121,456
    From this org
    $121,456
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

    Schedule J breakdown matched by us

    Base
    $121,456
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $121,456

  • Michael P Stramaglia

    Director

    Total calculated
    $120,358
    From this org
    $120,358
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

    Schedule J breakdown matched by us

    Base
    $120,358
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $120,358

  • Christopher Stranahan

    Director

    Total calculated
    $107,500
    From this org
    $107,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

    Schedule J breakdown matched by us

    Base
    $107,500
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $107,500

  • James M Bowden

    Director

    Total calculated
    $66,800
    From this org
    $66,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

    Schedule J breakdown matched by us

    Base
    $66,800
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $66,800

  • Martha E Marcon

    Director

    Total calculated
    $65,600
    From this org
    $65,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

    Schedule J breakdown matched by us

    Base
    $65,600
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $65,600

  • Frank N Carrington Lochan

    Director

    Total calculated
    $63,854
    From this org
    $63,854
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

    Schedule J breakdown matched by us

    Base
    $63,854
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $63,854

  • Linda Watters

    Director

    Total calculated
    $62,000
    From this org
    $62,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

    Schedule J breakdown matched by us

    Base
    $62,000
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $62,000

  • Gino Scapillati

    Director

    Total calculated
    $60,051
    From this org
    $60,051
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

    Schedule J breakdown matched by us

    Base
    $60,051
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $60,051

  • Shelly Herman

    Director

    Total calculated
    $59,600
    From this org
    $59,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

    Schedule J breakdown matched by us

    Base
    $59,600
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $59,600

  • Cindy Worley

    Director

    Total calculated
    $59,600
    From this org
    $59,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

    Schedule J breakdown matched by us

    Base
    $59,600
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $59,600

  • Janice Madon

    Director

    Total calculated
    $58,869
    From this org
    $58,869
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

    Schedule J breakdown matched by us

    Base
    $58,869
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $58,869

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

Schedule J, Part I, Line 3
Schedule J, Part I, Line 3 - Foresters Board has a Human Capital and Governance Committee (HCGC), comprised entirely of independent directors. Its mandate requires the Committee to recommend to the Board the annual compensation for the CEO and to approve the annual compensation for the CEO and his direct reports. Every 2 years, a formal compensation study of executive compensation is completed, covering compensation philosophy comparator organizations, pay ranges, salaries, and incentive targets. This study is done by external compensation consultants who are approved by the HCGC Committee and who bring in comparable data for the insurance industry. The study is reviewed in detail by the HCGC. Foresters HCGC uses this biennial compensation study to review salaries and incentive targets for the CEO and his direct reports. The HCGC retains an independent Board-only compensation advisor, who is part of all HCGC discussions concerning executive compensation.
Schedule J, Part I, Line 4
There were some individuals that received either severance or supplemental non-qualified plan payments in 2022.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • Foresters Equity Services Inc

    C · Broker Dealer · CA · 100% owned · controlled entity

    Directly controlled by THE INDEPENDENT ORDER OF FORESTERS

  • Foresters Holdings (Europe) Ltd

    C · Holding Company · UK · 100% owned · controlled entity

    Directly controlled by THE INDEPENDENT ORDER OF FORESTERS

  • Foresters Indemnity Company

    C · Selling insurance · CA · 100% owned · controlled entity

    Directly controlled by THE INDEPENDENT ORDER OF FORESTERS

  • Foresters Life Insurance Company

    C · Selling insurance · CA · 100% owned · controlled entity

    Directly controlled by THE INDEPENDENT ORDER OF FORESTERS

  • Foresters Investment Management Company Inc

    C · Asset Management · DE · 100% owned · controlled entity

    Directly controlled by THE INDEPENDENT ORDER OF FORESTERS

  • Foresters Securities (Canada) Inc

    C · Broker Dealer · CA · 100% owned · controlled entity

    Directly controlled by THE INDEPENDENT ORDER OF FORESTERS

  • Sylvan Agency (Canada) Inc

    C · Broker Dealer · CA · 100% owned · controlled entity

    Directly controlled by THE INDEPENDENT ORDER OF FORESTERS

  • Canada Protection Plan Inc

    C · Insurance Company · CA · 100% owned · controlled entity

    Directly controlled by THE INDEPENDENT ORDER OF FORESTERS

Provenance

Return type
form_990
Tax year
2022
Filed
13 November 2023
IRS schema version
2022v5.0
Source object
202303189349315840

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