Skip to content
Nonprofiteer
← INDEPENDENT ORDER OF FORESTERS

Form 990 for tax year 2023

Filed by INDEPENDENT ORDER OF FORESTERS.

Totals

Total revenue
$928,907,905
Total expenses
$814,587,687
Contributions and grants received
$0
Grants paid
$9,891,251
Program service revenue
$566,059,865
Investment income
$342,090,094
Other revenue
$20,757,946
Total assets, end of year
$5,161,949,709
Total liabilities, end of year
$3,623,779,354
Net assets or fund balances, end of year
$1,538,170,355
Program services expenses (Part IX)
$814,587,687
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$814,587,687

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: Insurance Revenue

    total $566,059,865 · related or exempt $0 · unrelated business $0 · excluded $566,059,865

  • 2f · All other program service revenue

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

  • 3 · Investment income

    total $342,090,094 · related or exempt $0 · unrelated business $0 · excluded $342,090,094

  • 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 $48,345,558 · related or exempt $0 · unrelated business $0 · excluded $48,345,558

  • 11b · Other revenue: Other comprehensive income

    total -$27,587,612 · related or exempt $0 · unrelated business $0 · excluded -$27,587,612

  • 11d · All other revenue

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

  • 11e · Other revenue, total

    $20,757,946

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,660,407 · program services $2,660,407

  • 2 · Grants to domestic individuals

    total $3,510,482 · program services $3,510,482

  • 3 · Grants to foreign organizations and individuals

    total $3,720,362 · program services $3,720,362

  • 4 · Benefits paid to or for members

    total $409,273,042 · program services $409,273,042

  • 5 · Compensation of officers, directors and key employees

    total $18,128,550 · program services $18,128,550

  • 6 · Compensation of disqualified persons

    total $0 · program services $0

  • 7 · Other salaries and wages

    total $54,151,241 · program services $54,151,241

  • 8 · Pension plan contributions

    total $2,324,061 · program services $2,324,061

  • 9 · Other employee benefits

    total $8,742,769 · program services $8,742,769

  • 10 · Payroll taxes

    total $4,286,869 · program services $4,286,869

  • 11b · Fees: legal

    total $1,095,303 · program services $1,095,303

  • 11c · Fees: accounting

    total $3,818,796 · program services $3,818,796

  • 11f · Fees: investment management

    total $0 · program services $0

  • 12 · Advertising and promotion

    total $1,208,146 · program services $1,208,146

  • 13 · Office expenses

    total $5,702,895 · program services $5,702,895

  • 14 · Information technology

    total $25,967,015 · program services $25,967,015

  • 16 · Occupancy

    total $0 · program services $0

  • 17 · Travel

    total $1,359,171 · program services $1,359,171

  • 19 · Conferences, conventions and meetings

    total $2,568,715 · program services $2,568,715

  • 20 · Interest

    total $5,227,745 · program services $5,227,745

  • 22 · Depreciation, depletion and amortization

    total $8,779,441 · program services $8,779,441

  • 23 · Insurance

    total $993,219 · program services $993,219

  • 24a · Other expenses: Medical fees

    total $5,828,185 · program services $5,828,185 · management and general $0 · fundraising $0

  • 24b · Other expenses: Change in insurance contract reserves liability due to economic drivers (NFE)

    total $257,618,730 · program services $257,618,730 · management and general $0 · fundraising $0

  • 24c · Other expenses: Tax loss carryforward benefit recognition

    total -$14,515,818 · program services -$14,515,818 · management and general $0 · fundraising $0

  • 24d · Other expenses: Other general expenses

    total $1,792,523 · program services $1,792,523 · management and general $0 · fundraising $0

  • 24e · All other expenses

    total $345,838 · program services $345,838

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $26,529,438 · end of year $20,192,555

  • 2 · Savings and temporary cash investments

    beginning of year $110,597,610 · end of year $63,365,552

  • 3 · Pledges and grants receivable

    beginning of year $0

  • 4 · Accounts receivable

    beginning of year $32,121,145 · end of year $34,653,024

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0

  • 7 · Other notes and loans receivable

    beginning of year $343,691,899 · end of year $129,879,937

  • 8 · Inventories for sale or use

    beginning of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,855,246 · end of year $909,160

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

    $10,647,134

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

    $9,734,199

  • 10c · Land, buildings and equipment, net

    beginning of year $2,448,724 · end of year $912,935

  • 11 · Investments: publicly traded securities

    beginning of year $3,476,100,044 · end of year $3,816,349,770

  • 12 · Investments: other securities

    beginning of year $193,770,105 · end of year $201,700,521

  • 13 · Investments: program-related

    beginning of year $0

  • 14 · Intangible assets

    beginning of year $25,630,810 · end of year $25,714,717

  • 15 · Other assets

    beginning of year $913,064,778 · end of year $868,271,538

  • 17 · Accounts payable and accrued expenses

    beginning of year $18,510,403 · end of year $20,718,870

  • 25 · Other liabilities

    beginning of year $3,571,273,426 · end of year $3,603,060,484

  • 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 $1,537,025,970 · end of year $1,538,170,355

Mission and programs · 2023

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 2,306,794 members across the United States, Canada and the United Kingdom. The cost for providing such insurance benefits was approximately $793 million, excluding changes in actuarial reserves.

    Expenses $793,365,934

  • 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. Competitive Scholarship Program (US/Canada/UK): - Foresters granted 370 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 $886,316 towards the Competitive scholarship program in 2023. Foresters Renew Program (US/Canada/UK): - Foresters granted 370 scholarships valued at $1,000/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 $320,396 towards the Renew program in 2023. 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". 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 $146,049 to fund this benefit in 2023. 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 $243,876 to fund this benefit in 2023. 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 2023, over 9,604 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 $1.8 million to fund this program in 2023. Critical/Terminal Illness benefits (US/Canada): - In 2023, 198 Foresters members received approximately $457,283 in critical illness benefits to help defray the cost of health care. Orphan Benefits (US/Canada): - In 2023, Foresters provided approximately $238,124 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 22 of its most needy members at two retirement homes. In 2023, approximately $787,348 in services were provided. Funding Local Community Activities - Granting (US/Canada/UK): - In 2023, Foresters contributed approximately $3.39 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 2023, 4,492 activities took place engaging 30,920 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. Member Engagement Activities (US/Canada/UK): - In 2023, Foresters invested over $355,585 in engaging our members in social activities designed to give back to our members and teach them about the benefits available to them, and volunteer activities designed to give back to our communities and teach them how to volunteer and host activities on their own.

    Expenses $9,203,527

  • 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: 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. 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. 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. 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 2023, Foresters invested about $236,000 to support building gardens in member communities across US, UK and Canada. Playground Builds: To provide equitable access to safe play spaces across the 3 countries that we represent (US, UK, and Canada), Foresters has partnered with the following organizations: KaBOOM! (NA): - KaBOOM! is a national non-profit organization dedicated to bringing balanced active play into the daily lives of all kids. With the help of members, employees, and our sales partners, we built 2 playgrounds in 2023, one in Asheville, North Carolina, and the other in Toronto, Ontario, Canada. Timotay Playscapes (UK): - Timotay designs and installs playgrounds for schools, nurseries, and public spaces for children of all ages and abilities, recognizing that outdoor play is not just for fun, but it is an important part of every child's physical, social, educational, and cognitive development. In 2023, with the help of members and employees, we built 1 playground in London, England. In 2023, Foresters invested about $332,000 to support building equitable and safe playspaces for children in communities across US, UK and Canada. 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 2023, Foresters provided approximately $29,845 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 $12,018,226

As filed on the 2023 return.

Listed in Part VII

  • Louis Gagnon

    President and Chief Executive Officer

    Total calculated
    $3,277,036
    From this org
    $3,277,036
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $348,360
    Bonus
    $2,003,422
    Other
    $925,255
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $3,277,037

  • Matthew Berman

    President, Foresters US and Canada

    Total calculated
    $1,435,641
    From this org
    $1,435,641
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $406,923
    Bonus
    $1,002,996
    Other
    $25,721
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $1,435,640

  • Alvin Sharma

    Global Chief Financial Officer & Chief Actuary

    Total calculated
    $716,824
    From this org
    $716,824
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $322,294
    Bonus
    $394,528
    Other
    $2
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $716,824

  • Mehul Kapadia

    SVP & Global Chief Information Officer

    Total calculated
    $689,657
    From this org
    $689,657
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $350,000
    Bonus
    $329,184
    Other
    $10,474
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $689,658

  • Rene Zanin

    Interim President & Chief Executive Officer

    Total calculated
    $587,967
    From this org
    $587,967
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $285,249
    Bonus
    $302,716
    Other
    $2
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $587,967

  • Mark Rush

    Chief Distribution Officer, US Sales

    Total calculated
    $493,748
    From this org
    $493,748
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $210,718
    Bonus
    $264,511
    Other
    $18,519
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $493,748

  • Marcia Mendes-d'Abreu

    Chief Human Resources Officer

    Total calculated
    $488,196
    From this org
    $488,196
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $281,545
    Bonus
    $206,649
    Other
    $2
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $488,196

  • Jon Stephen McDonald

    Vice President, Special Projects

    Total calculated
    $460,077
    From this org
    $460,077
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $238,702
    Bonus
    $141,811
    Other
    $79,564
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $460,077

  • Guarav Upadhya

    Global Chief Actuary & Chief Risk Officer

    Total calculated
    $426,291
    From this org
    $426,291
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $140,772
    Bonus
    $264,407
    Other
    $21,112
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $426,291

  • Trudy Engel

    Vice President and Appointed Actuary

    Total calculated
    $360,469
    From this org
    $360,469
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $233,102
    Bonus
    $127,366
    Other
    $2
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $360,470

  • Parker Brown

    General Counsel & Vice President, Vendor Management & Data Governance

    Total calculated
    $338,809
    From this org
    $338,809
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $220,212
    Bonus
    $116,531
    Other
    $2,065
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $338,808

  • Sujeether Kumareswaran

    Vice President, Capital, Business Planning and Strategy

    Total calculated
    $319,089
    From this org
    $319,089
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $206,314
    Bonus
    $112,773
    Other
    $2
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $319,089

  • Daniel Fortin

    Director

    Total calculated
    $312,285
    From this org
    $312,285
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

    Schedule J breakdown matched by us

    Base
    $312,285
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $312,285

  • Caroline Rendall

    Chief Risk Officer

    Total calculated
    $310,777
    From this org
    $310,777
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $202,353
    Bonus
    $108,422
    Other
    $2
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $310,777

  • Patricia Colavita

    SVP and Chief Internal Auditor

    Total calculated
    $308,113
    From this org
    $308,113
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $191,354
    Bonus
    $116,757
    Other
    $2
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $308,113

  • Henry Auyeung

    President, Canadian Division

    Total calculated
    $305,792
    From this org
    $305,792
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $154,664
    Bonus
    $131,681
    Other
    $19,446
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $305,791

  • Bruce Burak

    AVP, US Sales

    Total calculated
    $296,538
    From this org
    $296,538
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $150,000
    Bonus
    $143,442
    Other
    $3,096
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $296,538

  • Ken Adams

    Vice President, Total Rewards

    Total calculated
    $294,472
    From this org
    $294,472
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $189,187
    Bonus
    $105,283
    Other
    $2
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $294,472

  • Charles Morrison

    AVP, US Sales

    Total calculated
    $288,033
    From this org
    $288,033
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $135,000
    Bonus
    $148,121
    Other
    $4,912
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $288,033

  • Kelly Steinmetz

    AVP, US Sales

    Total calculated
    $287,424
    From this org
    $287,424
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $135,000
    Bonus
    $146,433
    Other
    $5,991
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $287,424

  • Douglas Parrott

    Assistant Vice President, Chief Underwriter-North America

    Total calculated
    $265,185
    From this org
    $265,185
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $223,817
    Bonus
    $35,778
    Other
    $5,590
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $265,185

  • Meghan Seybold

    Vice President, Talent Management & Business Partners

    Total calculated
    $244,771
    From this org
    $244,771
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $167,527
    Bonus
    $74,879
    Other
    $2,065
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $244,471

  • David Sullivan

    AVP, Claims, Compensation and Contracting

    Total calculated
    $244,563
    From this org
    $244,563
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $206,880
    Bonus
    $34,049
    Other
    $3,634
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $244,563

  • Julia Fantilli

    VP, US Customer service and New Business

    Total calculated
    $235,462
    From this org
    $235,462
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $168,517
    Bonus
    $64,880
    Other
    $2,065
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $235,462

  • Balina Bawa

    Vice President, Global Tax Compliance and Planning

    Total calculated
    $225,577
    From this org
    $225,577
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $175,455
    Bonus
    $50,120
    Other
    $2
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $225,577

  • Richard P Hennick

    Director

    Total calculated
    $215,000
    From this org
    $215,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

    Schedule J breakdown matched by us

    Base
    $215,000
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $215,000

  • JS Ledoux

    Assistant Vice President, Product Management

    Total calculated
    $212,702
    From this org
    $212,702
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $178,755
    Bonus
    $33,945
    Other
    $2
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $212,702

  • Clark Wagner

    Chief Investment Officer

    Total calculated
    $205,333
    From this org
    $205,333
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $205,233
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $205,233

  • Ian Collins

    Chief Compliance Officer, Chief Privacy Officer & Chief Anti-Money Laundering Officer (all Interim)

    Total calculated
    $201,622
    From this org
    $201,622
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $161,030
    Bonus
    $38,527
    Other
    $2,065
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $201,622

  • Terence Chan

    Vice President, Finance

    Total calculated
    $195,689
    From this org
    $195,689
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $160,199
    Bonus
    $35,488
    Other
    $2
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $195,689

  • Gerry Salvatore

    Assistant Vice President, Sales Operations & Business Development

    Total calculated
    $192,435
    From this org
    $192,435
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $165,491
    Bonus
    $25,143
    Other
    $1,801
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $192,435

  • Jeremy Wing

    Vice President, Pricing and Advanced Analytics

    Total calculated
    $184,136
    From this org
    $184,136
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $155,456
    Bonus
    $28,879
    Other
    $2
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $184,337

  • Nagesh Chawla

    Vice President, Enterprise Technology and Cybersecurity

    Total calculated
    $183,047
    From this org
    $183,047
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $156,431
    Bonus
    $24,551
    Other
    $2,065
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $183,047

  • Wendy Mao

    Assistant Vice President, US Reporting

    Total calculated
    $179,968
    From this org
    $179,968
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $152,627
    Bonus
    $27,339
    Other
    $2
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $179,968

  • Vivian Yip

    Assistant Vice President, Business Planning

    Total calculated
    $174,536
    From this org
    $174,536
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $149,607
    Bonus
    $24,927
    Other
    $2
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $174,536

  • Kris Sarkissian

    AVP, IT Operations

    Total calculated
    $172,063
    From this org
    $172,063
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $148,757
    Bonus
    $23,304
    Other
    $2
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $172,063

  • Colette Atkinson

    Assistant Vice President, Policy & Capital Management (On Leave)

    Total calculated
    $169,712
    From this org
    $169,712
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $145,680
    Bonus
    $24,030
    Other
    $2
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $169,712

  • Kelly Shum

    AVP, Financial Management Operations

    Total calculated
    $168,519
    From this org
    $168,519
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $146,331
    Bonus
    $22,186
    Other
    $2
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $168,519

  • Zol Mellary

    AVP, Project Management Office

    Total calculated
    $163,692
    From this org
    $163,692
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $140,469
    Bonus
    $23,221
    Other
    $2
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $163,692

  • Linda Watters

    Director

    Total calculated
    $162,667
    From this org
    $162,667
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

    Schedule J breakdown matched by us

    Base
    $162,667
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $162,667

  • Sonal Vyas

    Assistant Vice President, Finance Transformation

    Total calculated
    $156,817
    From this org
    $156,817
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $134,596
    Bonus
    $22,219
    Other
    $2
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $156,817

  • Chris Sehnke

    AVP, Business Intelligence & Analytics

    Total calculated
    $154,942
    From this org
    $154,942
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $133,862
    Bonus
    $21,078
    Other
    $2
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $154,942

  • Fatima Smart

    AVP, HR Operations

    Total calculated
    $153,104
    From this org
    $153,104
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $129,898
    Bonus
    $21,404
    Other
    $1,803
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $153,105

  • Dan Drimmie

    AVP, Project Management

    Total calculated
    $152,147
    From this org
    $152,147
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $130,560
    Bonus
    $21,584
    Other
    $2
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $152,146

  • Gino Scapillati

    Director

    Total calculated
    $147,118
    From this org
    $147,118
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

    Schedule J breakdown matched by us

    Base
    $147,118
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $147,118

  • Janice Madon

    Director

    Total calculated
    $144,692
    From this org
    $144,692
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

    Schedule J breakdown matched by us

    Base
    $144,692
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $144,692

  • Sonia Ameena Boxendale

    Director

    Total calculated
    $142,092
    From this org
    $142,092
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

    Schedule J breakdown matched by us

    Base
    $142,092
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $142,092

  • Wendy A Watson

    Director

    Total calculated
    $141,000
    From this org
    $141,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

    Schedule J breakdown matched by us

    Base
    $141,000
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $141,000

  • Michael P Stramaglia

    Director

    Total calculated
    $139,666
    From this org
    $139,666
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

    Schedule J breakdown matched by us

    Base
    $139,666
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $139,666

  • Katherine A Bardswick

    Director

    Total calculated
    $137,037
    From this org
    $137,037
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

    Schedule J breakdown matched by us

    Base
    $137,037
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $137,037

  • Michael Lombardi

    Director

    Total calculated
    $137,037
    From this org
    $137,037
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

    Schedule J breakdown matched by us

    Base
    $137,037
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $137,037

  • Robert W Wight

    Director

    Total calculated
    $134,611
    From this org
    $134,611
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

    Schedule J breakdown matched by us

    Base
    $134,611
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $134,611

  • Shelly Herman

    Director

    Total calculated
    $133,600
    From this org
    $133,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

    Schedule J breakdown matched by us

    Base
    $133,600
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $133,600

  • Cindy Worley

    Director

    Total calculated
    $133,600
    From this org
    $133,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

    Schedule J breakdown matched by us

    Base
    $133,600
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $133,600

  • Shelley Wilson

    Corporate Secretary (Interim)

    Total calculated
    $127,170
    From this org
    $127,170
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $106,799
    Bonus
    $20,369
    Other
    $2
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $127,170

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
Foresters Board has a Human Capital and Governance Committee ("HCGC"), comprised 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 their direct reports. Every 2 years, a formal review of executive compensation is completed, including comparator organizations, and competitiveness of total compensation levels (i.e. base pay and incentives). This review is done by external compensation consultants who are approved by the HCGC and who provide comparable data for the financial services/insurance industry. The information is reviewed in detail by the HCGC. Foresters HCGC uses this biennial compensation information to review salary and incentive levels for the CEO and their direct reports; this data is used to inform recommendations for any changes to compensation.
Schedule J, Part I, Line 4
There were some individuals that received either severance or supplemental non-qualified plan payments in 2023.

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
2023
Filed
14 November 2024
IRS schema version
2023v5.0
Source object
202423199349316742

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.