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Nonprofiteer
← INDEPENDENT ORDER OF FORESTERS

Form 990 for tax year 2024

Filed by INDEPENDENT ORDER OF FORESTERS.

Totals

Total revenue
$835,751,204
Total expenses
$762,172,580
Contributions and grants received
$0
Grants paid
$9,138,693
Program service revenue
$566,870,346
Investment income
$101,181,194
Other revenue
$167,699,664
Total assets, end of year
$5,193,474,694
Total liabilities, end of year
$3,707,249,027
Net assets or fund balances, end of year
$1,486,225,667
Program services expenses (Part IX)
$762,172,580
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$762,172,580

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

Listed in Part VII

  • Matthew Berman

    President and Chief Executive Officer

    Total calculated
    $1,029,578
    From this org
    $1,029,578
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $675,655
    Bonus
    $328,205
    Other
    $25,718
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $1,029,578

  • Rene Zanin

    Chief Legal, Administrative & Membership Officer

    Total calculated
    $829,308
    From this org
    $829,308
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $319,826
    Bonus
    $509,480
    Other
    $2
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $829,308

  • Alvin Sharma

    Global Chief Financial Officer

    Total calculated
    $777,677
    From this org
    $777,677
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $364,386
    Bonus
    $413,289
    Other
    $2
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $777,677

  • Mehul Kapadia

    Global Chief Information and Operations Officer

    Total calculated
    $697,502
    From this org
    $697,502
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $359,654
    Bonus
    $322,711
    Other
    $15,137
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $697,502

  • Mark Rush

    Chief Distribution Officer, US Sales

    Total calculated
    $511,780
    From this org
    $511,780
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $219,726
    Bonus
    $278,866
    Other
    $13,188
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $511,780

  • Clark Wagner

    Chief Investment Officer

    Total calculated
    $412,500
    From this org
    $412,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $250,000
    Bonus
    $162,500
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $412,500

  • Trudy Engel

    Vice President and Appointed Actuary

    Total calculated
    $366,563
    From this org
    $366,563
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $236,548
    Bonus
    $130,013
    Other
    $2
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $366,563

  • Parker Brown

    General Counsel & Vice President, Data Governance

    Total calculated
    $356,401
    From this org
    $356,401
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $225,570
    Bonus
    $128,628
    Other
    $2,203
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $356,401

  • Patricia Colavita

    SVP and Chief Internal Auditor

    Total calculated
    $351,895
    From this org
    $351,895
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $219,011
    Bonus
    $132,882
    Other
    $2
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $351,895

  • Sujeether Kumareswaran

    Vice President, Capital, Business Planning and Strategy

    Total calculated
    $347,757
    From this org
    $347,757
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $220,667
    Bonus
    $127,087
    Other
    $2
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $347,756

  • Caroline Rendall

    Chief Risk Officer

    Total calculated
    $342,280
    From this org
    $342,280
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $216,764
    Bonus
    $125,513
    Other
    $2
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $342,279

  • Daniel Fortin

    Director

    Total calculated
    $307,777
    From this org
    $307,777
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

    Schedule J breakdown matched by us

    Base
    $307,777
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $307,777

  • Cindy Wang

    Interim Executive Head, Can Op

    Total calculated
    $307,549
    From this org
    $307,549
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $151,813
    Bonus
    $155,735
    Other
    $2
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $307,550

  • Kelly Steinmetz

    AVP, US Sales

    Total calculated
    $289,878
    From this org
    $289,878
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $139,558
    Bonus
    $144,698
    Other
    $5,622
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $289,878

  • Meghan Seybold

    VP, People & Culture

    Total calculated
    $284,890
    From this org
    $284,890
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $190,009
    Bonus
    $92,677
    Other
    $2,203
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $284,889

  • Charles Morrison

    AVP, US Sales

    Total calculated
    $284,294
    From this org
    $284,294
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $139,558
    Bonus
    $139,448
    Other
    $5,289
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $284,295

  • Bruce Burak

    AVP, US Sales

    Total calculated
    $276,833
    From this org
    $276,833
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $150,000
    Bonus
    $125,459
    Other
    $1,374
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $276,833

  • Douglas Parrott

    Assistant Vice President, Chief Underwriter-North America

    Total calculated
    $272,815
    From this org
    $272,815
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $232,435
    Bonus
    $38,935
    Other
    $1,445
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $272,815

  • Julia Fantilli

    VP, US Customer service and New Business

    Total calculated
    $267,687
    From this org
    $267,687
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $174,098
    Bonus
    $91,386
    Other
    $2,203
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $267,687

  • Balina Bawa

    Vice President, Global Tax Compliance and Planning

    Total calculated
    $266,474
    From this org
    $266,474
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $178,931
    Bonus
    $87,540
    Other
    $2
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $266,473

  • David Sullivan

    AVP, Claims, Compensation and Contracting

    Total calculated
    $251,601
    From this org
    $251,601
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $215,154
    Bonus
    $35,989
    Other
    $457
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $251,600

  • Terence Chan

    Vice President, Finance

    Total calculated
    $242,567
    From this org
    $242,567
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $171,341
    Bonus
    $71,224
    Other
    $2
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $242,567

  • Ian Collins

    Chief Compliance & Privacy Officer and Associate General Counsel

    Total calculated
    $227,043
    From this org
    $227,043
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $176,687
    Bonus
    $50,354
    Other
    $2
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $227,043

  • Jeremy Wing

    Vice President, Pricing and Advanced Analytics

    Total calculated
    $222,625
    From this org
    $222,625
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $167,403
    Bonus
    $53,019
    Other
    $2,203
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $222,625

  • JS Ledoux

    Assistant Vice President, Product Management

    Total calculated
    $219,466
    From this org
    $219,466
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $187,657
    Bonus
    $31,807
    Other
    $2
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $219,466

  • Richard 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

  • Nagesh Chawla

    Vice President, Enterprise Technology and Cybersecurity

    Total calculated
    $207,635
    From this org
    $207,635
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $164,006
    Bonus
    $43,628
    Other
    $2
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $207,636

  • Gerry Salvatore

    Assistant Vice President, Sales Operations & Business Development

    Total calculated
    $195,727
    From this org
    $195,727
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $168,710
    Bonus
    $27,016
    Other
    $2
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $195,728

  • Linda Watters

    Director

    Total calculated
    $184,400
    From this org
    $184,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

    Schedule J breakdown matched by us

    Base
    $184,400
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $184,400

  • Wendy Mao

    Assistant Vice President, US Reporting

    Total calculated
    $181,795
    From this org
    $181,795
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $154,953
    Bonus
    $24,916
    Other
    $1,926
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $181,795

  • Vivian Yip

    Assistant Vice President, Financial Risk Management

    Total calculated
    $179,852
    From this org
    $179,852
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $152,985
    Bonus
    $26,865
    Other
    $2
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $179,852

  • Kelly Shum

    AVP, Financial Management Operations

    Total calculated
    $176,016
    From this org
    $176,016
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $149,230
    Bonus
    $25,082
    Other
    $1,704
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $176,016

  • Kris Sarkissian

    AVP, IT Operations

    Total calculated
    $175,201
    From this org
    $175,201
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $150,916
    Bonus
    $24,283
    Other
    $2
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $175,201

  • Nadine Kuhlkamp

    VP, Marketing & Communications

    Total calculated
    $173,344
    From this org
    $173,344
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $150,015
    Bonus
    $23,326
    Other
    $2
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $173,343

  • Zol Mellary

    AVP, Project Management Office

    Total calculated
    $170,155
    From this org
    $170,155
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $144,928
    Bonus
    $25,225
    Other
    $2
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $170,155

  • Noel Mak

    Vice President

    Total calculated
    $168,277
    From this org
    $168,277
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $101,496
    Bonus
    $66,779
    Other
    $2
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $168,277

  • Aziz Rguigue

    Vice President

    Total calculated
    $164,430
    From this org
    $164,430
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $100,999
    Bonus
    $63,429
    Other
    $2
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $164,430

  • Terry Chan

    AVP, Business Planning and ALM

    Total calculated
    $162,642
    From this org
    $162,642
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $137,182
    Bonus
    $25,457
    Other
    $2
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $162,641

  • Valerie Howes

    Chief AML Officer, Special Investigations & Consumer Complaints

    Total calculated
    $161,852
    From this org
    $161,852
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $129,589
    Bonus
    $31,384
    Other
    $878
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $161,851

  • Katherine Bardswick

    Director

    Total calculated
    $155,273
    From this org
    $155,273
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

    Schedule J breakdown matched by us

    Base
    $155,273
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $155,273

  • Sonia Baxendale

    Director

    Total calculated
    $155,261
    From this org
    $155,261
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

    Schedule J breakdown matched by us

    Base
    $155,261
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $155,261

  • Janice Madon

    Director

    Total calculated
    $153,293
    From this org
    $153,293
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

    Schedule J breakdown matched by us

    Base
    $153,293
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $153,293

  • Gino Scapillati

    Director

    Total calculated
    $143,359
    From this org
    $143,359
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

    Schedule J breakdown matched by us

    Base
    $143,359
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $143,359

  • Wendy Watson

    Director

    Total calculated
    $136,400
    From this org
    $136,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

    Schedule J breakdown matched by us

    Base
    $136,400
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $136,400

  • Cindy Worley

    Director

    Total calculated
    $136,400
    From this org
    $136,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

    Schedule J breakdown matched by us

    Base
    $136,400
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $136,400

  • Michael Edge

    Director

    Total calculated
    $136,400
    From this org
    $136,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $136,400
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $136,400

  • Michael Lombardi

    Director

    Total calculated
    $135,416
    From this org
    $135,416
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

    Schedule J breakdown matched by us

    Base
    $135,416
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $135,416

  • Michael Stramaglia

    Director

    Total calculated
    $135,416
    From this org
    $135,416
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

    Schedule J breakdown matched by us

    Base
    $135,416
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $135,416

  • Shelly Herman

    Director

    Total calculated
    $126,400
    From this org
    $126,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

    Schedule J breakdown matched by us

    Base
    $126,400
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $126,400

  • Robert Wight

    Director

    Total calculated
    $125,493
    From this org
    $125,493
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

    Schedule J breakdown matched by us

    Base
    $125,493
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $125,493

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
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 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 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
Schedule J, Part I, Line 4 - There were some individuals that received either severance or supplemental non-qualified plan payments in 2024.

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

  • US Branch Network

    $2,417,409

  • KaBOOM

    $332,987

  • Member Engagement

    $242,708

  • Marjaree Mason Center

    $50,000

  • US Hunger

    $45,500

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 Holdings (Europe) Ltd

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

    Directly controlled by THE INDEPENDENT ORDER OF FORESTERS

  • Foresters Life Insurance Company

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

    Directly controlled by THE INDEPENDENT ORDER OF FORESTERS

Provenance

Return type
form_990
Tax year
2024
Filed
15 October 2025
IRS schema version
2024v5.0
Source object
202533079349302898

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