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Nonprofiteer
← SONS OF NORWAY

Form 990 for tax year 2022

Filed by SONS OF NORWAY.

Totals

Total revenue
-$61,039,636
Total expenses
-$64,874,013
Contributions and grants received
$0
Grants paid
$0
Program service revenue
-$77,853,713
Investment income
$12,197,006
Other revenue
$4,617,071
Total assets, end of year
$233,262,308
Total liabilities, end of year
$219,779,114
Net assets or fund balances, end of year
$13,483,194
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$64,874,013

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.

  • 1a · Federated campaigns

    $0

  • 1b · Membership dues

    $0

  • 1c · Fundraising events

    $0

  • 1d · Related organizations

    $0

  • 1e · Government grants (contributions)

    $0

  • 1f · All other contributions, gifts and grants

    $0

  • 1g · Noncash contributions included above

    $0

  • 2a · Program service revenue: Premium income

    total -$92,075,942 · related or exempt -$92,075,942 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: Membership dues

    total $908,489 · related or exempt $908,489 · unrelated business $0 · excluded $0

  • 2c · Program service revenue: Amortization of Interest Maintenance Reserve

    total $378,836 · related or exempt $378,836 · unrelated business $0 · excluded $0

  • 2d · Program service revenue: Commission on reinsurance ceded

    total $12,834,101 · related or exempt $12,834,101 · unrelated business $0 · excluded $0

  • 2f · All other program service revenue

    total $100,803 · related or exempt $18,167 · unrelated business $82,636 · excluded $0

  • 3 · Investment income

    total $12,662,854 · related or exempt $12,662,854 · unrelated business $0 · excluded $0

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

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

  • 5 · Royalties

    total $1,149,053 · related or exempt $1,149,053 · unrelated business $0 · excluded $0

  • 6a · Gross rents

    real property $0 · personal property $0

  • 6b · Less rental expenses

    real property $0 · personal property $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

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

  • 7a · Gross sales of assets other than inventory

    securities $116,869,265 · other assets $0

  • 7b · Less cost or other basis and sales expenses

    securities $117,335,113 · other assets $0

  • 7c · Gain or loss

    securities -$465,848 · other assets $0

  • 7d · Net gain or loss

    total -$465,848 · related or exempt -$465,848 · unrelated business $0 · excluded $0

  • 8a · Fundraising events: contributions included on line 1c

    $0

  • 10a · Gross sales of inventory

    $46,933

  • 10b · Cost of goods sold

    $35,680

  • 10c · Net income from sales of inventory

    total $11,253 · related or exempt $0 · unrelated business $11,253 · excluded $0

  • 11a · Other revenue: Writedown carrying value of investments

    total -$795,187 · related or exempt -$795,187 · unrelated business $0 · excluded $0

  • 11b · Other revenue: ceding of negative IMR

    total $4,259,508 · related or exempt $4,259,508 · unrelated business $0 · excluded $0

  • 11c · Other revenue: Realized Gain/(Loss) on For Exch

    total -$7,556 · related or exempt -$7,556 · unrelated business $0 · excluded $0

  • 11d · All other revenue

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

  • 11e · Other revenue, total

    $3,456,765

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total -$78,909,805

  • 5 · Compensation of officers, directors and key employees

    total $2,398,807

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $1,919,634

  • 8 · Pension plan contributions

    total $78,351

  • 9 · Other employee benefits

    total $217,626

  • 10 · Payroll taxes

    total $298,827

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $33,024

  • 11c · Fees: accounting

    total $53,800

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $255,915

  • 11g · Fees: other

    total $320,482

  • 12 · Advertising and promotion

    total $29,463

  • 13 · Office expenses

    total $814,061

  • 14 · Information technology

    total $594,518

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $631,564

  • 17 · Travel

    total $99,659

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total -$24,349

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $94,891

  • 23 · Insurance

    total $74,964

  • 24a · Other expenses: Commissions

    total $5,013,590

  • 24b · Other expenses: Examination fees and Inspection Reports

    total $105,663

  • 24c · Other expenses: Fraternal Promotion

    total $449,468

  • 24d · Other expenses: Official Publication

    total $633,685

  • 24e · All other expenses

    total -$57,851

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,776,490 · end of year $1,318,695

  • 2 · Savings and temporary cash investments

    beginning of year $487,752 · end of year $244,538

  • 3 · Pledges and grants receivable

    end of year $0

  • 4 · Accounts receivable

    end of year $0

  • 5 · Loans and receivables from officers and key people

    end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $18,006,063 · end of year $16,889,408

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

    $101,682

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

    $78,949

  • 10c · Land, buildings and equipment, net

    beginning of year $18,333 · end of year $22,733

  • 11 · Investments: publicly traded securities

    beginning of year $307,109,274 · end of year $207,261,829

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    end of year $0

  • 14 · Intangible assets

    end of year $0

  • 15 · Other assets

    beginning of year $7,497,168 · end of year $7,525,105

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,568,998 · end of year $8,493,680

  • 18 · Grants payable

    end of year $0

  • 19 · Deferred revenue

    end of year $0

  • 20 · Tax-exempt bond liabilities

    end of year $0

  • 21 · Escrow or custodial account liability

    end of year $0

  • 22 · Loans and payables to officers and key people

    end of year $0

  • 23 · Secured mortgages and notes payable

    end of year $0

  • 24 · Unsecured notes and loans payable

    end of year $0

  • 25 · Other liabilities

    beginning of year $324,918,072 · end of year $211,285,434

  • 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 $8,408,010 · end of year $13,483,194

Mission and programs · 2022

Mission

The mission of Sons of Norway is to promote and to preserve the heritage and culture of Norway, to celebrate our relationship with other Nordic countries, and to provide quality insurance and financial products to our members.

Activities or mission (Part I)

Sons of Norway operates through its lodge system to promote, preserve, and cherish a lasting appreciation and understanding of the heritage, language, history, and culture of Norway and other Nordic countries while providing fraternal insurance benefits to it members. Through its local lodges and its 501(c)3 charitable foundation, Sons of Norway also provides scholarships and supports community charitable activities.

  • Life, annuity, and health insurance products for members (18,618 members with insurance)

    Expenses $62,907,990 · Revenue -$66,301,866

  • Fraternal activities and benefits (53,973 members)

    Expenses $1,966,023 · Revenue $1,010,278

As filed on the 2022 return.

Listed in Part VII

  • Chris Pinkerton

    Chief Operating Officer

    Total calculated
    $739,850
    From this org
    $681,938
    From related orgs
    $0
    Other
    $57,912
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $438,938
    Bonus
    $243,000
    Other
    $0
    Deferred
    $15,250
    Nontaxable benefits
    $0
    Filer's total
    $697,188

  • Dan Seyfried

    IT Director

    Total calculated
    $243,524
    From this org
    $221,021
    From related orgs
    $0
    Other
    $22,503
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $177,557
    Bonus
    $43,464
    Other
    $0
    Deferred
    $9,483
    Nontaxable benefits
    $13,020
    Filer's total
    $243,524

  • Erica Oberg

    Chief Financial Officer

    Total calculated
    $223,632
    From this org
    $187,645
    From related orgs
    $0
    Other
    $35,987
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $145,478
    Bonus
    $42,167
    Other
    $0
    Deferred
    $8,935
    Nontaxable benefits
    $27,052
    Filer's total
    $223,632

  • Constance O'Brien

    Director Mktg and Comm

    Total calculated
    $202,369
    From this org
    $192,121
    From related orgs
    $0
    Other
    $10,248
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $155,685
    Bonus
    $36,436
    Other
    $0
    Deferred
    $10,248
    Nontaxable benefits
    $0
    Filer's total
    $202,369

  • Lizabeth Halva

    Director of Admin, HR and Ins Operations

    Total calculated
    $185,845
    From this org
    $137,446
    From related orgs
    $0
    Other
    $48,399
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $102,855
    Bonus
    $34,591
    Other
    $0
    Deferred
    $8,913
    Nontaxable benefits
    $39,486
    Filer's total
    $185,845

  • Kevin Cassidy

    Corporate Counsel

    Total calculated
    $169,871
    From this org
    $151,214
    From related orgs
    $0
    Other
    $18,657
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $138,214
    Bonus
    $13,000
    Other
    $0
    Deferred
    $7,661
    Nontaxable benefits
    $10,996
    Filer's total
    $169,871

  • John Benz

    Sales Director

    Total calculated
    $155,615
    From this org
    $147,542
    From related orgs
    $0
    Other
    $8,073
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $98,392
    Bonus
    $49,150
    Other
    $0
    Deferred
    $8,073
    Nontaxable benefits
    $0
    Filer's total
    $155,615

  • John Hennen

    Sr Bus Appl Analyst

    Total calculated
    $139,900
    From this org
    $132,166
    From related orgs
    $0
    Other
    $7,734
    Hours/week
    40

  • Robie Little

    IT Support

    Total calculated
    $118,832
    From this org
    $98,765
    From related orgs
    $0
    Other
    $20,067
    Hours/week
    40

  • Karen Patwell

    Accounting Manager

    Total calculated
    $112,878
    From this org
    $79,672
    From related orgs
    $0
    Other
    $33,206
    Hours/week
    40

  • Michelle Swanson

    Accounting Manager

    Total calculated
    $105,990
    From this org
    $88,910
    From related orgs
    $0
    Other
    $17,080
    Hours/week
    40

  • Ron Stubbing

    President

    Total calculated
    $12,000
    From this org
    $12,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Marci Larson

    Secretary

    Total calculated
    $8,000
    From this org
    $8,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Elaine Nelson

    Treasurer

    Total calculated
    $7,000
    From this org
    $7,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Mark Agerter

    Vice President

    Total calculated
    $6,000
    From this org
    $6,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Chris Hicks

    Director

    Total calculated
    $5,000
    From this org
    $5,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Kenneth Johnson

    Director

    Total calculated
    $5,000
    From this org
    $5,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Robin Fossum

    Director

    Total calculated
    $5,000
    From this org
    $5,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Per Mikalsen

    Director

    Total calculated
    $5,000
    From this org
    $5,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Mary Beth Ingvoldstad

    Director

    Total calculated
    $5,000
    From this org
    $5,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Erik Brochmann

    Director

    Total calculated
    $5,000
    From this org
    $5,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Dean Stiller

    Director

    Total calculated
    $5,000
    From this org
    $5,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Karl Hella

    Director

    Total calculated
    $2,750
    From this org
    $2,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Steven Halverson

    Director

    Total calculated
    $2,500
    From this org
    $2,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

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

  • 1a · Travel for companions
  • 1b · Written policy on the line-1a expenses
  • 3 · Approval by the board or compensation committee

Answered no

  • 2 · Substantiation required before reimbursing expenses
  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

Schedule J, Part I, Line 1a
It is considered that the presence of a spouse at Sons of Norway event enhances and creates goodwill for the society. The board of directors has established specific guidelines for such travel.

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

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2022
Filed
10 October 2023
IRS schema version
2022v5.0
Source object
202332839349301633

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