KNIGHTS OF COLUMBUS

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1882

Legal Domicile

Principal Officer

JOHN A MARRELLA

Phone

2037524000

Tax Period

2023-01-01 to 2023-12-31

KNIGHTS OF COLUMBUS, founded in 1882, is a large national nonprofit in the Mutual Benefit sector that reported $2.5B in total revenue in fiscal year 2023.

Mission

KNIGHTS OF COLUMBUS IS A CATHOLIC FRATERNAL ORGANIZATION DEDICATED TO PROMOTING AND CONDUCTING EDUCATIONAL, CHARITABLE, RELIGIOUS AND SOCIAL WELFARE WORKS, RENDERING MUTUAL AID AND ASSISTANCE TO SICK AND NEEDY MEMBERS AND THEIR FAMILIES AND PROVIDING INSURANCE PRODUCTS AND ANNUITIES TO BENEFIT MEMBERS, WIVES AND CHILDREN.

Program Service Accomplishments

Program 1

Expenses: $1,982,553,324 Revenue: $1,356,059,088

PROGRAMS FOR THE PAYMENT OF IRC SEC. 501(C)(8) BENEFITS TO MEMBERS, WIVES AND THEIR DEPENDENTS. KNIGHTS OF COLUMBUS IS A CATHOLIC FAMILY FRATERNAL SERVICE ORGANIZATION WITH OVER 2.0 MILLION MEMBERS, FOUNDED IN 1882 FOR THE FOLLOWING PURPOSES: (A) RENDERING AID TO ITS MEMBERS, THEIR FAMILIES AND BENEFICIARIES OF MEMBERS AND THEIR FAMILIES; (B) RENDERING MUTUAL AID AND ASSISTANCE TO ITS SICK, DISABLED AND NEEDY MEMBERS AND THEIR FAMILIES; (C) PROMOTING SOCIAL WORK AMONG ITS MEMBERS AND THEIR FAMILIES; AND (D) PROMOTING AND CONDUCTING EDUCATIONAL, CHARITABLE, RELIGIOUS AND SOCIAL WELFARE, WAR RELIEF AND WELFARE AND PUBLIC RELIEF WORK.TO MORE EFFECTIVELY CARRY OUT ITS PURPOSES THE CORPORATION, A CONNECTICUT SPECIALLY CHARTERED CORPORATION WITHOUT CAPITAL STOCK, PROVIDES COVERAGE FOR LIFE INSURANCE, LONG TERM CARE, DISABILITY INCOME AND ANNUITY BENEFITS TO MEMBERS, WIVES, WIDOWS AND MINOR CHILDREN PRINCIPALLY IN THE UNITED STATES AND CANADA. THE TOTAL IRC SEC. 501(C)(8) BENEFITS ACCRUED TO MEMBERS OF $1,982,553,324 WERE INCURRED FOR THE PURPOSE FOR WHICH THE ORGANIZATION IS EXEMPT. IN 2023, 22,186 DEATH CLAIMS WERE INCURRED. THE AVERAGE SIZE OF A LIFE INSURANCE CERTIFICATE IS $71,920. THE AVERAGE AGE OF A CERTIFICATE HOLDER IS 52.

Program 2

Expenses: $412,297,677

PROGRAMS FOR EXPENSES INCURRED NECESSARY IN THE KNIGHTS OF COLUMBUS INSURANCE AND FRATERNAL ENDEAVORS.

Program 3

Expenses: $33,093,918 Revenue: $6,007,762

PROGRAMS OF ASSISTANCE TO OTHER SOCIAL ACTION, EDUCATIONAL, CHARITABLE, BENEVOLENT, MORAL AND RELIGIOUS ENDEAVORS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $1,373,606,500

Investment Income $1,020,345,776

Other Revenue $88,570,727

TOTAL REVENUE $2,482,523,003

Expense Breakdown

Grants Paid $33,093,918

Salaries & Benefits $124,572,181

Fundraising Expenses $0

Program Expenses $2,427,944,919

Other Expenses $287,725,496

TOTAL EXPENSES $2,427,944,919

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,482,523,003	$2,549,652,973	0.0%
Expenses	$2,427,944,919	$2,400,045,344	+0.0%
Net Income	$54,578,084	$149,607,629	-0.6%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✓ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

2532

Volunteers

2107000

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$5,049,718

Total Directors

$5,900,443

Key Employees

$556,351

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CARL A ANDERSON	DIRECTOR/PAST SUPREME KNIGHT	10.00	Director	$196,944	$0	$196,944
JOHN S APPELBAUM	DIRECTOR	5.00	Director	$34,885	$0	$34,885
ANTONIO BANUELOS-ACOSTA	DIRECTOR	5.00	Director	$32,485	$0	$32,485
DANIEL DUCHESNE	DIRECTOR	5.00	Director	$34,085	$0	$34,085
RENNAN J DUFFOUR	DIRECTOR	5.00	Director	$25,285	$0	$25,285
SEAN E HALPAIN	DIRECTOR	5.00	Director	$32,485	$0	$32,485
COLIN R JORSCH JR	DIRECTOR	5.00	Director	$34,085	$0	$34,085
PATRICK E KELLY	DIRECTOR/SUPREME KNIGHT	45.00	Officer Director	$1,417,331	$48,140	$1,465,471
ARCIE J LIM	DIRECTOR	5.00	Director	$30,885	$0	$30,885
MOST REV WILLIAM E LORI	DIRECTOR/SUPREME CHAPLAIN	5.00	Officer Director	$135,000	$0	$135,000
JOHN A MARRELLA	DIRECTOR/SUPREME ADVOCATE	50.00	Officer Director	$714,598	$38,321	$752,919
PATRICK T MASON	DIRECTOR/SUPREME SECRETARY	50.00	Officer Director	$336,834	$48,140	$384,974
ANTHONY V MINOPOLI	DIRECTOR/CHIEF INVESTMENT OFFICER	50.00	Director	$747,032	$48,140	$795,172
CARMINE V MUSUMECI	DIRECTOR	5.00	Director	$35,685	$0	$35,685
PAUL G O'SULLIVAN	PAST DIRECTOR/DEP SUPREME KNIGHT	50.00	Officer Director	$254,584	$21,053	$275,637
ARTHUR LOUIS L PETERS	DIRECTOR/DEP SUPREME KNIGHT	15.00	Director	$74,081	$0	$74,081
RONALD F SCHWARZ	DIRECTOR/SUPREME TREASURER	48.00	Officer Director	$363,244	$38,206	$401,450
JOHN J KENNEDY	DIRECTOR/CHIEF FINANCIAL OFFICER	50.00	Officer Director	$800,147	$38,321	$838,468
MICHAEL A BENSON	DIRECTOR	5.00	Director	$34,885	$0	$34,885
STEPHEN J KEHOE	DIRECTOR	5.00	Director	$34,085	$0	$34,085
SCOTT A O'CONNOR	DIRECTOR	5.00	Director	$30,085	$0	$30,085
ANTONIO F PASCUA	DIRECTOR	5.00	Director	$33,669	$0	$33,669
MICHAEL R MCCUSKER	DIRECTOR/SUPREME MASTER	25.00	Director	$98,753	$0	$98,753
JAMEY C ROTH	DIRECTOR	5.00	Director	$34,485	$0	$34,485
ALFREDO A VELA	DIRECTOR	5.00	Director	$33,685	$0	$33,685
RENE V SARMIENTO	DIRECTOR	5.00	Director	$10,400	$0	$10,400
RENE TREVINO	DIRECTOR	5.00	Director	$10,400	$0	$10,400
RICHARD J KNEE MD	MEDICAL DIRECTOR	45.00	Officer	$391,295	$48,140	$439,435
GEORGE E SILOS	VICE PRESIDENT/ACTUARY	45.00	Officer	$308,224	$48,140	$356,364
RONALD D FRANZLUEBBERS	SENIOR VP/CHIEF ACTUARY	45.00	Key Emp	$512,450	$43,901	$556,351
JONATHON REYES	SENIOR VP OF STRATEGIC OUTREACH	45.00	Highest	$430,935	$48,140	$479,075
CHRISTOPHER HUESMAN	CHIEF INFORMATION OFFICER	45.00	Highest	$537,744	$48,140	$585,884
RONALD R SANDOVAL SR	CALIFORNIA GENERAL AGENT	45.00	Highest	$1,097,005	$0	$1,097,005
PATRICK MURPHY	SENIOR VP OF FINANCE	45.00	Highest	$450,050	$48,140	$498,190
FRANK MEMMO	CHIEF OF INSURANCE OPERATIONS	45.00	Highest	$539,846	$39,844	$579,690
JOSE C REYES JR	FORMER DIRECTOR	5.00		$19,400	$0	$19,400
DANIEL ROSSI	FORMER DIRECTOR	9.00		$32,238	$0	$32,238

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$2,482,523,003	$2,427,944,919	$30,335,266,292	$54,578,084
2022	$2,549,652,973	$2,400,045,344	$29,370,584,012	$149,607,629
2021	$2,548,075,018	$2,417,495,755	$28,849,378,345	$130,579,263
2020	$2,439,461,226	$2,343,964,285	$27,668,138,210	$95,496,941
2019	$2,491,746,239	$2,343,169,543	$26,870,079,150	$148,576,696
2018	$2,418,570,779	$2,337,563,708	$25,436,169,914	$81,007,071