OPENING PLENARY SCRIPT - American Fraternal Alliance

like to thank each member of the committee for their dedication to the Finance Committee and the
National Fraternal Congress. Annually the Finance Committee reviews the operating budget of the
National Fraternal Congress and the necessary membership dues to fund the proposed operating
budget. For the last three years, the membership dues have remained the same at $1,350,000. This
has been achieved by the effort of the NFCA staff in generating new sources of revenue such as
associate membership dues, which we currently have 46 members, sponsorships at the sectional and
national meetings, increased royalty fees from CalSurance, Webinars, and most importantly, by
controlling and reducing overhead expenses. The entire staff, starting with President and CEO Joe
Annotti, Linda McLaughlin, Karen Hollenbeck, and the other members should be recognized for their
achievements in this area of financial responsibility.
The Finance Committee also reviews the NFCA investment guidelines for the operating funds and the
long-term investment funds and makes recommendations to the board of directors. I am happy to report
that no capital losses were incurred but, like all of you, the net return on our investments are decreasing
and will affect our operating budgets in the future. I have summarized the financial results for the years
ending December 31, 2009, and 2008, and the first six months ended June 30, 2010.
The first slide reports total assets of $2,837,000, as of December 31, 2009, compared to assets of
$2,705,000 for December 31, 2008, a net increase for the year 2009 of $132,000. The principle assets
are cash, $798,000, and short- and long-term investments of $1,114,000.
NATIONAL FRATERNAL CONGRESS OF AMERICA
STATEMENTS OF FIANCIAL CONDITION
AS OF DECEMBER 31, 2009 AND 2008
2009 2008__
ASSETS
Cash and Cash Equivalents $ 797,693 $ 925,074
Investments 1,411,661 1,226,556
Executive Deferred Compensation Plan 510,318 407,429
Prepaid Interest and Other Amounts Due 58,018 71,669
Furniture and Equipment, Net of Accumulated Depreciation 59,190 74,058
TOTAL ASSETS $2,836,880 $2,704,786
LIABILITIES
Executive Deferred Compensation Plan $ 510,318 $ 407,429
Membership Dues Received in Advance 568,288 620,044
Funds Due to Others 62,893 62,927
Accrued Liabilities 1,163 6,202
TOTAL LIABILITIES $1,142,662 $1,096,602
NET ASSETS
Unrestricted 1,694,218 $1,608,184
TOTAL LIABILITIES AND NET ASSETS $2,836,880 $2,704,786
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