NSS 2022 Financial Statement
Annual Statement Recap
Statement as of December 31, 2022
Net Admitted Assets: | December 2022 | December 2021 |
|---|---|---|
Bonds | $1,547,459,334 | $1,474,508,345 |
Preferred Stocks | 4,256,840 | 5,300,000 |
Common Stocks | 7,212,701 | 9,015,823 |
Mortgage Loans on Real Est. | 120,892,952 | 108,777,412 |
Certificate Loans | 972,228 | 965,173 |
Real Est. Occupied by Society | 595,544 | 616,899 |
Cash on Deposit | 60,312,219 | 30,578,048 |
Other Invested Assets | 1,646,896 | 1,866,369 |
Uncollected Premiums | 234,171 | 418,064 |
Investment Income Due | 18,436,388 | 16,398,188 |
TOTALS | $1,762,019,273 | $1,648,444,321 |
Liabilities & Unassigned Funds: | December 2022 | December 2021 |
|---|---|---|
Aggregate Reserve | $1,575,671,000 | $1,474,993,500 |
Deposit-type Contracts | 71,800,238 | 70,447,522 |
Certificate Claims | 925,000 | 675,000 |
Commissions Due | 375,000 | 400,000 |
Refunds Due and Unpaid | 1,000,000 | 840,000 |
General Exp Due | 1,990,000 | 2,356,350 |
Retained by Society as Trustee | 139,849 | 284,920 |
Borrowed Money & Interest | 0 | 410,242 |
Asset Valuation Resv. (AVR) | 13,542,800 | 12,546,000 |
Interest Maintenance Resv. (IMR) | 4,681,099 | 4,548,975 |
Contingency Reserve | 150,000 | 150,000 |
Unassigned Funds | 91,744,286 | 80,791,812 |
TOTALS | $1,762,019,273 | $1,648,444,321 |
Surplus Account: | December 2022 | December 2021 |
|---|---|---|
Beginning Surplus | $80,941,812 | $70,682,199 |
Net Income | 17,443,981 | 11,649,196 |
Change in Net Unrealized | (2,217,550) | 1,331,261 |
Change in Nonadmitted Assets | (3,277,156) | (533,344) |
Change in Valuation Reserve | (996,801) | (2,187,500) |
Aggregate Write-ins for Gains and Losses in Surplus | ||
Net Change in Surplus | 10,952,474 | 10,259,613 |
Surplus At Statement Date | $91,894,286 | $80,941,812 |
Summary of Operations: INCOME: | December 2022 | December 2021 |
|---|---|---|
Premium & Annuity Considerations | $218,833,341 | $271,173,517 |
Net Investment Income | 81,575,937 | 69,950,355 |
Amortization of Interest Maintenance Reserve | 392,944 | 380,106 |
Aggregate Write-ins for Misc Inc | 410,245 | |
Income Sub-Total | $301,212,467 | $341,503,978 |
Summary of Operations: EXPENSES: | December 2022 | December 2021 |
|---|---|---|
Death Benefits | $12,075,549 | $7,676,447 |
Matured Endowments | 42,321 | 19,026 |
Annuity Benefits | 155,488,617 | 126,878,865 |
Disability Benefits | 5,342 | 5,284 |
Surrender Benefits | 645,831 | 968,110 |
Interest On Deposit Type Contr. | 12,831 | 11,837 |
Increase In Aggregate Reserve for Life Contracts | 100,677,500 | 179,441,500 |
Commissions On Direct Business | 6,409,626 | 7,559,823 |
General & Fraternal Expenses | 7,519,923 | 6,360,845 |
Insur, Taxes, Licenses, Fees | 218,768 | 202,108 |
Expense Sub-Total | $283,096,308 | $329,123,845 |
Summary of Operations: SUMMARY: | December 2022 | December 2021 |
|---|---|---|
Net Gain From Operations Before Refunds To Members | $18,116,159 | $12,380,133 |
Refund To Members Endowments | (985,225) | (831,139) |
Net Gain From Operations After Refunds To Members | 17,130,934 | 11,548,994 |
Net Realized Capital Gains | 313,047 | 100,202 |
TOTAL NET INCOME | $17,443,981 | $11,649,196 |
NSS Annual Financial Statement
2022-2021 Annual Recap
Statement as of December 31, 2022
Net Admitted Assets: | December 2022 | December 2021 |
|---|---|---|
Bonds | $1,547,459,334 | $1,474,508,345 |
Preferred Stocks | 4,256,840 | 5,300,000 |
Common Stocks | 7,212,701 | 9,015,823 |
Mortgage Loans on Real Est. | 120,892,952 | 108,777,412 |
Certificate Loans | 972,228 | 965,173 |
Real Est. Occupied by Society | 595,544 | 616,899 |
Cash on Deposit | 60,312,219 | 30,578,048 |
Other Invested Assets | 1,646,896 | 1,866,369 |
Uncollected Premiums | 234,171 | 418,064 |
Investment Income Due | 18,436,388 | 16,398,188 |
TOTALS | $1,762,019,273 | $1,648,444,321 |
Liabilities & Unassigned Funds: | December 2022 | December 2021 |
|---|---|---|
Aggregate Reserve | $1,575,671,000 | $1,474,993,500 |
Deposit-type Contracts | 71,800,238 | 70,447,522 |
Certificate Claims | 925,000 | 675,000 |
Commissions Due | 375,000 | 400,000 |
Refunds Due and Unpaid | 1,000,000 | 840,000 |
General Exp Due | 1,990,000 | 2,356,350 |
Retained by Society as Trustee | 139,849 | 284,920 |
Borrowed Money & Interest | 0 | 410,242 |
Asset Valuation Resv. (AVR) | 13,542,800 | 12,546,000 |
Interest Maintenance Resv. (IMR) | 4,681,099 | 4,548,975 |
Contingency Reserve | 150,000 | 150,000 |
Unassigned Funds | 91,744,286 | 80,791,812 |
TOTALS | $1,762,019,273 | $1,648,444,321 |
Surplus Account: | December 2022 | December 2021 |
|---|---|---|
Beginning Surplus | $80,941,812 | $70,682,199 |
Net Income | 17,443,981 | 11,649,196 |
Change in Net Unrealized | (2,217,550) | 1,331,261 |
Change in Nonadmitted Assets | (3,277,156) | (533,344) |
Change in Valuation Reserve | (996,801) | (2,187,500) |
Aggregate Write-ins for Gains and Losses in Surplus | ||
Net Change in Surplus | 10,952,474 | 10,259,613 |
Surplus At Statement Date | $91,894,286 | $80,941,812 |
Summary of Operations: INCOME: | December 2022 | December 2021 |
|---|---|---|
Premium & Annuity Considerations | $218,833,341 | $271,173,517 |
Net Investment Income | 81,575,937 | 69,950,355 |
Amortization of Interest Maintenance Reserve | 392,944 | 380,106 |
Aggregate Write-ins for Misc Inc | 410,245 | |
Income Sub-Total | $301,212,467 | $341,503,978 |
Summary of Operations: EXPENSES: | December 2022 | December 2021 |
|---|---|---|
Death Benefits | $12,075,549 | $7,676,447 |
Matured Endowments | 42,321 | 19,026 |
Annuity Benefits | 155,488,617 | 126,878,865 |
Disability Benefits | 5,342 | 5,284 |
Surrender Benefits | 645,831 | 968,110 |
Interest On Deposit Type Contr. | 12,831 | 11,837 |
Increase In Aggregate Reserve for Life Contracts | 100,677,500 | 179,441,500 |
Commissions On Direct Business | 6,409,626 | 7,559,823 |
General & Fraternal Expenses | 7,519,923 | 6,360,845 |
Insur, Taxes, Licenses, Fees | 218,768 | 202,108 |
Expense Sub-Total | $283,096,308 | $329,123,845 |
Summary of Operations: SUMMARY: | December 2022 | December 2021 |
|---|---|---|
Net Gain From Operations Before Refunds To Members | $18,116,159 | $12,380,133 |
Refund To Members Endowments | (985,225) | (831,139) |
Net Gain From Operations After Refunds To Members | 17,130,934 | 11,548,994 |
Net Realized Capital Gains | 313,047 | 100,202 |
TOTAL NET INCOME | $17,443,981 | $11,649,196 |
NSS Four Year Overview of Operations
2022-2019 Historical Data
Statement as of January 1, 2023
Historical Data/Year: | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|
Life Insurance in Force | 627,543,000 | 627,543,000 | 606,092,000 | 582,785,000 |
Annuities in Force | 1,377,139,000 | 1,377,139,000 | 1,212,218,000 | 1,099,409,000 |
Aggregate Annuity/Life Reserves | 1,575,671,000 | 1,474,993,500 | 1,295,552,000 | 1,174,663,000 |
First Year Premium Life | 207,817 | 207,817 | 283,812 | 610,165 |
Single & Renewal Life Premium | 25,203,638 | 25,203,638 | 15,299,390 | 13,935,977 |
Annuity Premium | 245,762,062 | 245,762,062 | 175,676,140 | 163,939,613 |
Total Premium Income | 271,173,517 | 271,173,517 | 191,259,342 | 177,265,425 |
Net Admitted Assets | 1,762,019,273 | 1,648,444,321 | 1,450,739,940 | 1,317,899,478 |
Total Admitted Liabilities | 1,254,447,855 | 1,254,447,855 | 1,380,057,742 | 1,254,447,855 |
Asset Valuation Reserve | 13,542,800 | 12,546,000 | 10,358,500 | 8,832,000 |
Interest Maintenance Reserve | 4,681,099 | 4,548,975 | 5,581,682 | 5,339,330 |
Surplus | 34,887,962 | 80,941,812 | 70,682,198 | 64,096,623 |
Total Reserves/Surplus | 98,036,787 | 98,036,787 | 86,622,380 | 78,267,953 |
Investment Income | 81,575,937 | 69,950,355 | 60,715,911 | 56,411,081 |
General & Fraternal Expenses | 7,519,923 | 6,360,845 | 5,383,065 | 4,978,732 |
Annuity Benefits Paid | 155,488,617 | 126,878,865 | 104,412,827 | 108,950,633 |
Cash Surrender Benefits | 515,413 | 515,413 | 947,973 | 520,118 |
Matured Endowments | 42,321 | 31,786 | 11,395 | 23,981 |
Insurance Death Benefits | 12,075,549 | 7,676,447 | 6,921,974 | 6,952,244 |
Life Certificates | 22,984 | 22,984 | 23,252 | 22,984 |
Annuity Certificates | 17,523 | 17,523 | 18,388 | 17,523 |
Members: | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|
Adults | 32,765 | 32,765 | 29,117 | 27,281 |
Juvenile | 3,692 | 3,692 | 3,427 | 3,260 |
TOTAL | 36,457 | 36,457 | 32,544 | 30,541 |