MOUNT VERNON, IA (03/26/2015)(readMedia)-- Students from Cornell College performed in the Steel Drum Ensemble concert March 27 in King Chapel.

Stephanie Campbell of Bettendorf is one of more than 20 members of the Steel Drum ensemble.

Andrew (Drew) Klocke of Coal Valley is one of more than 20 members of the Steel Drum ensemble.

The Steel Drum Ensemble is one of seven of the college's highly regarded ensembles, open to all students by audition. In addition to building group performance skills, the ensembles also offer exceptional undergraduate solo opportunities.

One of the 40 "Colleges That Change Lives," Cornell College in Mount Vernon, Iowa, is a national liberal arts college with a distinctive One Course At A Time curriculum. The One Course schedule provides students the chance to dive into their studies, focus more intensely on the disciplines of their choice, and learn authentically with the unique freedom to shed the confines of the traditional classroom to study off-campus, pursue research, or accept an internship--all without missing out on other classes.

Cornell has been recognized by numerous publications for the value its education offers and for academic excellence. This year it was named of the 100 best values in liberal arts education by Kiplinger's, one of the "Best Value Schools" among national liberal arts colleges by U.S. News and World Report, and one of the 100 Affordable Elite Colleges by Washington Monthly. Ninety-three percent of Cornell graduates earn their degrees in four years. In 2013 Cornell was named one of the 25 colleges with the best professors by the Center for College Affordability and Productivity.

For more information, visit www.cornellcollege.edu.

2014 was another strong year financially and fraternally for Rock Island-based Modern Woodmen of America. Life insurance in force grew by nearly $1 billion for the fourth straight year, and assets surpassed the $14 billion mark.  

"Modern Woodmen continues to demonstrate notable financial strength and stability, and our fraternal contributions remain an important part of our organization," said W. Kenny Massey, president and CEO of Modern Woodmen. "Our fraternal member benefits and programs have truly enriched the lives of our members, their families and their local communities, and I am proud to report that we contributed over $19 million in fraternal expenditures in 2014."  

Continued growth in life insurance in force  

Life insurance in force, the total amount of life insurance owned by members to protect their families in case of premature death, increased to over $37 billion.  

"Protection is key for the American family," said Massey. "Through the personalized, knowledgeable support of our financial representatives, members can gain the life insurance coverage they need to protect their loved ones."  

Assets exceed $14 billion  

Modern Woodmen's assets increased 5.5 percent over 2013, reaching over $14.1 billion. Assets are primarily invested in high-quality, low-risk corporate and government bonds.  

"Fiscal responsibility is essential to our continued success," said Massey. "It allows us to protect the promises made to our members nationwide. For that reason, it is our first obligation."  

Annuity assets under management equaled $8.1 billion.  

Total life insurance, annuity and other certificate reserves, which are funds held to guarantee future benefits to members, increased 5.6 percent to slightly over $11 billion.  

Strong operational results

Total premium income was $1.07 billion in 2014.

Compared to 2013, variable annuity certificate sales increased 17 percent, and variable annuity premiums increased by 28 percent.

Payments and benefits to members in 2014 increased 6.1 percent to $803.4 million. This includes death benefits, annuity payments and surrender benefits. An additional $14.8 million in dividend payments was refunded to life insurance and annuity certificates.

Net gain from operations after dividends was nearly $16.2 million with a total net income of $85.4 million.

Total surplus and special reserves were $1.48 billion in 2014. Surplus and special reserves provide additional safety for members and ensure Modern Woodmen's ability to meet unforeseen events, continue the organization's fraternal programs and provide funds for future growth. To protect and enhance the impact of these funds and strengthen the commitment to members, Modern Woodmen set aside additional reserves in 2014.

Modern Woodmen's solvency ratio of 111.69 percent means that for every $100 of liabilities (promises made to members), Modern Woodmen has $111.69 of assets to back up those promises.

Fraternal programs support communities nationwide

Modern Woodmen has a nationwide membership of nearly 770,000. Fraternal expenditures supporting Modern Woodmen's family-oriented member benefits and programs totaled over $19 million. These benefits and programs include disaster relief assistance, college scholarships, social and volunteer service programs by adult chapters and youth service clubs nationwide, and educational programs for schools and youth groups.

Key fraternal results included: 

- More than 1.5 million people attended social, educational and volunteer events sponsored by Modern Woodmen chapters.

- 173,205 hours of volunteer service were recorded by youth service club members and 263,548 hours of volunteer service were reported by adult chapter members.

- 2.3 million children were educated through free Modern Woodmen youth educational programs. 

- $10.8 million was contributed through Modern Woodmen's Matching Fund Program. The Matching Fund Program meets needs in member communities across the country. The fundraising projects, matched by Modern Woodmen, were conducted by the organization's 2,717 adult chapters, 263 Summit chapters (for members age 55 and older) and 790 youth service clubs.