Madison, WI
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)BETTERLIFE, founded in 1897, is a mid-sized nonprofit that reported $64.3M in total revenue in fiscal year 2023. Revenue surged 26% from the prior year, signaling strong growth momentum.
Fraternal Benefit Society - As a fraternal benefit insurance society, our mission is to help our members protect their families' financial futures, build better lives, and better their communities.
FRATERNAL ACTVITIES AND PROGRAMS - BetterLife provides quarterly funding to fraternal groups, varying in amount. Additionally, volunteers may receive cash awards for their efforts. Funds support...
FRATERNAL ACTVITIES AND PROGRAMS - BetterLife provides quarterly funding to fraternal groups, varying in amount. Additionally, volunteers may receive cash awards for their efforts. Funds support various initiatives: A. Community Benefit: BetterLife members organize projects aiding scholarship programs, blood drives, and more. B. Fundraisers and Matching Funds: Grants are offered for fundraising events supporting members in need. C. Family Activities: Events like picnics and holiday parties foster family bonds. D. Educational Leadership: Seminars train volunteers for community outreach. E. Patriotic Programs: Support for Flag Day observances, veteran and school initiatives. F. Fraternal Support: Activities maintaining group cohesion and development. G. Fraternal Services: Resources for national mission implementation. 2023 Statistics for A-G: $244,065 Activity Payments; 975 Events; 31,242 Volunteer Hours; $41,315 Corporate Donations; $236,061 Fundraising Funds Raised; $14,184 Fundraising Funds Matched by BetterLife. FRATERNAL BENEFIT PROGRAM: BetterLife offers non-contractual fraternal benefits to members at no extra cost, alongside their life insurance coverage: A. Disaster Benefit: Grants of up to $1,500 for expenses incurred from natural disasters. B. Health Benefit: Grants of up to $1,500 for specific disease expenses. C. Family Fraternal Benefit: Includes newborn death benefit and guaranteed insurance. D. Family Benefit: Offers ten $1,000 awards yearly for various family expenses. E. Member Magazine: Quarterly publication covering member activities and services. F. Orphan Income Benefit: Monthly allowance for orphan care until age 18. G. Orphan Scholarship Benefit: Up to $3,000 yearly for orphaned child education. H. National Scholarship Program: Awards scholarships to young members involved in community service. I. Members in Action: Grants up to $200 twice yearly for local service projects. 2023 Statistics for A-I: $0 (A), $12,000 (B); $0 (C); $10,000 (D); $108,331 (E); $16,900 (F); $0 (G); $68,000 (H); $5,950 (I). LODGE SYSTEM: BetterLife operates through local fraternal lodges known as Member Groups. Each member belongs to a specific group, which hosts planning meetings, biennial elections, and conducts activities within an assigned area. These groups adhere to Society bylaws and organize various benevolent, charitable, educational, and patriotic initiatives within their communities.
INSURANCE ACTIVITIES: The primary purpose of the insurance activities of BetterLife is to accomplish the tax-exempt purpose of the fraternal benefit society rather than to produce income. Number of...
INSURANCE ACTIVITIES: The primary purpose of the insurance activities of BetterLife is to accomplish the tax-exempt purpose of the fraternal benefit society rather than to produce income. Number of members: 57,324
Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency
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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 2023 | 2022 | Change | |
|---|---|---|---|
| Revenue | $64,263,803 | $51,179,407 | +0.3% |
| Expenses | $69,734,945 | $62,754,257 | +0.1% |
| Net Income | $-5,471,142 | $-11,574,850 | -0.5% |
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
Sign In| Name | Title | Hours/Week | Role | Reportable Comp | Other Comp | Total |
|---|---|---|---|---|---|---|
| Daniel L Shinnick | CEO/Board Chair/Chief Member Advocate/Independent Director | 22 |
Officer
Director
|
$372,461 | $65,064 | $437,525 |
| Craig A Van Dyke | President/Chief Investment Officer | 40 |
Officer
Director
|
$364,162 | $60,108 | $424,270 |
| Christopher Campbell | Board Chair/CEO/President | 40 |
Officer
Director
|
$315,824 | $41,903 | $357,727 |
| Angel L Thomas | SVP-Member Experience | 40 |
Officer
|
$178,152 | $62,171 | $240,323 |
| Donald M Nieland | SVP-IT/Secretary | 40 |
Officer
|
$172,247 | $58,805 | $231,052 |
| David J Schlesser | VP-National Sales | 40 |
Officer
|
$164,536 | $34,681 | $199,217 |
| Phyllis A Heleniak | VP-Direct to Consumer | 40 |
Officer
|
$178,464 | $10,460 | $188,924 |
| Jenna M Dunker | SVP-Finance and Treasurer/SVP-Strategic Initiatives | 40 |
Officer
|
$159,508 | $27,496 | $187,004 |
| Rebecca K Lureen | Manager-Independent Sales | 40 |
Highest
|
$171,774 | $5,566 | $178,234 |
| Michelle M Maffet | VP-Member Services | 40 |
Officer
|
$130,479 | $21,434 | $151,913 |
| Zachary J Snell | Director-Member and Community Engagement | 40 |
Highest
|
$102,717 | $16,459 | $119,176 |
| Nicolas O McCullick | Director-Management Support Services | 40 |
Highest
|
$107,019 | $6,954 | $113,973 |
| David G Sobczak | Director-Sales Training and Support | 40 |
Highest
|
$103,908 | $5,857 | $109,765 |
| George F Yanna | Former Director | 0 |
|
$62,532 | $0 | $62,532 |
| John T McHugh Jr | Independent Director | 5 |
Director
|
$56,646 | $0 | $56,646 |
| Mary K Bradley | Independent Director | 4 |
Director
|
$43,158 | $0 | $43,158 |
| Nancy Nelson Heykes | Independent Director | 4 |
Director
|
$43,158 | $0 | $43,158 |
| Michael S Hosek | Independent Director | 4 |
Director
|
$43,158 | $0 | $43,158 |
| Duane J Jirik | Independent Director | 4 |
Director
|
$43,158 | $0 | $43,158 |
| Maureen O'Hern Hahn | Independent Director | 4 |
Director
|
$43,158 | $0 | $43,158 |
| Brenda L Stone Sullivan | Independent Director | 4 |
Director
|
$43,158 | $0 | $43,158 |
| Maria Ferrante-Schepis | Independent Director | 4 |
Director
|
$43,158 | $0 | $43,158 |
| Thomas R Johnson | Former Director | 0 |
|
$40,000 | $0 | $40,000 |
| John E Rashke | Former Director | 0 |
|
$34,625 | $0 | $34,625 |
| Derek J Metcalf | CFO | 40 |
Officer
|
$24,138 | $724 | $24,862 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2024 | No data | No data | No data | No data |
| 2023 | $64,263,803 | $69,734,945 | $603,847,920 | $-5,471,142 |
| 2022 | $51,179,407 | $62,754,257 | $622,297,981 | $-11,574,850 |
| 2021 | $59,441,063 | $61,498,031 | $648,970,346 | $-2,056,968 |
| 2020 | $25,149,208 | $27,619,169 | $302,314,413 | $-2,469,961 |
| 2019 | $29,785,960 | $30,188,336 | $304,066,274 | $-402,376 |
| 2018 | $29,115,222 | $29,525,009 | $301,909,674 | $-409,787 |
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