Happy Easter! - SOKOL ONLINE

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MEMBER NEWS A Message From The President & CEO Timothy L. Kuzma, President & CEO Tradition is an important aspect of the makeup of the Polish Falcons of America. We are a Polish organization and maintaining the beautiful traditions of Poland is critical to the success of the PFA. Surveys taken over the years have always shown that the Polish aspect of the organization is one the most important reasons why people join the Polish Falcons. For many Polish-American families, traditions play an important role in keeping families together. It’s not only important for the family as a unit, but it provides the sense that the family is part of a bigger community. Those important traditions that we grew up with, passed down from generation to generation, define who we are. That identity is important. It reminds us from where we came, and if we continue these traditions, it will show the way for them to build healthy, strong families for future generations. Celebrations of any kind, in any setting, really aren’t important unless they are placed in a context that provides structure and meaning. A tradition provides the setting to tell a story and relate what that story means in today’s world. As children develop and begin making sense of the world and the role they will play as adults in society, the traditions they learn will provide them with the foundation they need in order to develop as a complete person. One would be amazed at the number of phone calls and emails that we receive from members, and non-members, looking for information about Polish traditions. They usually have fond memories of a holiday tradition that was shared in their family when they were younger, but for various reasons, it has been mostly forgotten and is no longer practiced. But now that they have children, they feel a need to pass that tradition along again. We are more than happy to help in any way we can. It is also why, in this issue of the Sokol Polski, we print several pages of articles, recipes, etc., about Polish Easter traditions. I would ask that if you continue Polish traditions during any holiday season, to maybe try a new one, or make a new Polish dish for Easter dinner. And if you do not include a Polish tradition in your celebration, maybe this year just do one. It doesn’t have to be elaborate, just get started. Before you know it, you’ll be taking an Easter basket to Church on Holy Saturday for a Polish Blessing of Easter Food. *** As always at this time of year, we print the financial results from the previous year. Our National Secretary/Treasurer and Chief Financial Officer, begins this report on this page. Without stealing any of John’s thunder, we had a good year in a number of respects in 2009. Our surplus increased, our assets increased, and we had a record year in terms of life insurance and annuity sales. In summary, we are in a much better financial position than we were at the end of 2008. Please take the time to read the report. I would like to commend our entire staff at National Headquarters for the outstanding work they put forth in 2009. We have made great progress, not only financially, but also with the activities, programs and benefits we offer our members. We are going to build on these successes in 2010 and have an even better organization as a result. *** Have a Blessed and Happy Easter! Czolem! Annual Financial Statement From Secretary/Treasurer John Kuzmirek A summary of the 2009 Annual Statement of the Polish Falcons of America, as filed with the various State Insurance Departments in which we are licensed to do business, is presented for your review. The major components that contributed to our operating results and financial condition, as of December 31, 2009 are detailed in the Balance Sheet and Summary of Operations. Overall, 2009 was a very successful year for the Polish Falcons of America. Despite of the many challenges we faced as an organization, there are many positives to build upon for the coming years. From a sales perspective, we showed unprecedented growth in 2009. Premium income totaled over $5 million, an increase of almost $2.2 million compared to 2008. This is a direct result of our sales/marketing plan that was implemented in 2009. We have significantly increased our sales force and are continuing to recruit quality sales agents to the organization. Investment Income continues to grow each year. For 2009, it totaled $3,351,446, net of investment related expenses. When compared to the prior year, investment income shows an increase of $117,551. Total income, which includes Miscellaneous Income, Scholarship Donations, and Amortization of Interest Maintenance Reserve, was $8,540,385, an increase of $2,257,472 compared to 2008. Total operating expenses for 2009 increased by $2,474,759 compared to the prior year. Aggregate Reserves expensed for 2009, $4,165,000, shows an increase of $2,587,000 compared to 2008. This is primarily a result of the reserves required for the increased premium income in 2009. Annuity benefits paid, which has an impact on the Aggregate Reserve calculation, were $1,861,825 in 2009, a decrease of $550,941 from 2008, demonstrating confidence in our organization from our Membership. Death Benefits paid in 2009 amounted to $464,888, which approximated the 2008 total of $420,855. General Insurance & Fraternal Expenses for 2009, $1,326,742, shows an increase of $134,266 over the prior year. Salaries and Wages contributed $92,674 to the negative variance. The increase in Salaries is a result of our office being fully staffed for a full year in 2009. Minus the increase in Salaries, other General Insurance & Fraternal Expenses increased by a modest 3.49%. We are committed to control expenses, while continuing to provide fraternal benefits to our Members. The insert provides the detail of these expenses for comparison. Despite our sales growth, we showed a Net Loss from Operations for 2009 of $118,377. After Realized losses in the amount of $65,332, our Net Loss for 2009 was $183,709. The Net Increase in Surplus for 2009 was $785,533. Contributing to the Surplus continued on page 3 SOKÓŁ POLSKI—POLISH FALCON APRIL 2010 PAGE 2
MEMBER NEWS continued from page 2 gain were Unrealized Gains of $307, 003, and Other Income $1,060,728, which includes Gorecki Scholarship assets transferred to the PFA in the amount of $725,055 and $246,483 from recently dissolved Nests. In addition, approximately $95,000 was transferred to the Polish Falcons as a donation from the Alliance Fund. The Asset Valuation Reserve was replenished by $427,360 due to improvements in our investment portfolio in 2009, which offset other surplus gains. As you can see from the Balance Sheet total admitted assets at December 31, 2009, $56,206,397, increased by over $5 million compared to prior year. This increase is primarily due to a significant increase in cash and Investments resulting from a positive cash flow from operations. In 2009, our organization acquired a beautiful facility in Hillsborough, New Jersey, which was previously owned by Polish Falcons of America District I. The value of the property, as shown on the Balance Sheet, is $265,178. This amount is net of accumulated depreciation, and a mortgage payable. Total Liabilities were $53,997,266 at yearend, an increase of $4,218,539 compared to the prior year. Aggregate Reserves $49,508,000, which includes Life Insurance Reserves ($14,785,000) and Annuity Reserves ($34,723,000), increased by $4,165,000 for the year. These required statutory reserves are set for the protection of our Members. As we have done in the past, we paid all claims in 2009 and we are confident in our ability to meet the benefit obligations we have to our Members in the future. Total Surplus at year end, $2,209,131 remains strong and is an indication that the Polish Falcons of America is moving in a positive direction. The ability to increase surplus in the face of adverse economic conditions has put Polish Falcons in a better position than we were at this time last year. We look forward to 2010 and are prepared to face the many challenges that lie ahead. The Board of Directors, Management Team, and our outstanding staff are committed to growing our organization, striving for excellence, and holding a personal responsibility to our Membership. We plan to build on our successes and make the Polish Falcons an even stronger organization in 2010 and beyond. To all of our Members, thank you for your support and commitment to the Polish Falcons of America! SOKÓŁ POLSKI—POLISH FALCON APRIL 2010 PAGE 3
Page 1: SOKÓŁ POLSKI POLISH FALCON APRIL
Page 5 and 6: FALCON YOUTH From The Desk Of Chris
Page 7 and 8: MEMBER NEWS Chaplain’s Corner By
Page 9 and 10: MEMBER NEWS Bakeless Bake Sale Dona
Page 11 and 12: MEMBER NEWS From the National Sales
Page 13 and 14: MEMBER NEWS Nest 88 Ski Club Goes S
Page 15 and 16: MEMBER NEWS Above: Herbie and his s
Page 17 and 18: MEMBER NEWS FROM THE CULTURAL COMMI
Page 19 and 20: MEMBER NEWS continued from page 18
Page 21 and 22: MEMBER NEWS ATTENTION BOWLERS!!! Th
Page 23 and 24: MEMBER NEWS Falcon Fitness by Greg
Page 25 and 26: POL- AM NEWS NEWS BRIEFS FROM POLAN
Page 27 and 28: MEMBER NEWS MEMBER INDUCTED Member

Happy Easter! - SOKOL ONLINE

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