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.

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Mortgage Credit Certificates offer qualified Iowa home buyers up to $2,000 in annual federal income tax credits  

(DES MOINES) - The Iowa Finance Authority (IFA) today announced that eligible first-time Iowa home buyers may purchase a home and reduce their federal income tax liability by up to $2,000 a year for the life of their mortgage. Approximately 400 Iowa home buyers are expected to benefit from the program, which is now available for new purchases through a network of Take Credit Participating Lenders throughout the state.  

"The Take Credit program will provide an additional incentive to first-time Iowa home buyers as we move into the spring home buying season," said Iowa Finance Authority Executive Director Dave Jamison. "Hundreds of Iowa families will be able to both realize their dream of homeownership and benefit from a significant reduction in their federal income taxes."  

The program provides eligible home buyers with a tax credit against their federal income tax liability every year for the life of their mortgage. The amount of the tax credit for the 2015 program is set at 50 percent of the mortgage interest paid, up to a maximum of $2,000 per year, for up to 30 years. The remaining mortgage interest may be taken as a deduction from taxable income if the home buyer itemizes.    

 

Eligibility for the Take Credit Program requires home buyers to meet household income and purchase price limitations and meet the definition of a first-time home buyer. The federal income limits vary by county, the limits currently range from $65,300 to $111,300 per year.  A purchase price limit of $250,000 applies statewide with the exception of federally Targeted Areas where the limit is $305,000. A first-time home buyer is defined as someone who has not owned their primary residence in the past three years but also includes home buyers purchasing in a federally Targeted Area and military veterans who have not previously financed a home using a tax exempt bond program.

 

"This program will help to fuel an already healthy Iowa real estate market," said Iowa Association of Realtors CEO Dave Bert. "Statewide home sales have increased five percent over February of last year, home prices have increased and they are selling faster. The Take Credit program provides even more incentive for first-time home buyers to act now - this is an exciting time for home buyers."

 

"Interested home buyers can apply for a mortgage credit certificate through a Take Credit Participating Lender as part of their financing process. Home buyers will need to have approval of the mortgage credit certificate before they close on a home so they should ask their lender about this opportunity early in the application process," said Jamison.

 

The mortgage credit certificate was authorized by Congress in the 1984 Tax Reform Act and capacity for the program is derived from an annual allocation of tax-exempt bond volume cap from the U.S. Treasury Department. The 2015 Take Credit Program has an allocation of private activity bond volume cap sufficient to issue mortgage credit certificates for mortgages totaling approximately $42 million. The certificates are available on a first-come first-serve basis and the program will be closed for further reservations once available funding has been exhausted. More information is available at IowaFinanceAuthority.gov/TakeCredit.

 

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Keynote speaker Michael Angelo Caruso will deliver keynote address on "How to Engage Someone in 15 Seconds."

Rock Island, Ill. (March 25, 2015) - PR Network of the Quad Cities is hosting its annual Half Day Workshop at the iWireless Center on April 21. The keynote speaker is international speaker and author Michael Angelo Caruso.

Caruso's presentation will cover how to execute the perfect handshake, diffuse an angry customer, craft an impressive elevator speech, create value in the first ten words you say to someone, and so much more. You have 15 seconds to make a good first impression. Everyone can make a better first impression!

Caruso is based out of Royal Oaks, Mich., and travels the country delivering motivational speeches. He's delivered over 2,000 paid presentations and keynote speeches on leadership, selling and internet marketing.

Breakout sessions include :

Social Media Marketing What Matters in 2015 (and Beyond) - Josh Krakauer, Sculpt LLC

Krakauer will present on social media marketing trends/survival kit for 2015, with an additional emphasis on the how and why of Facebook advertising. Josh Krakauer is the Founder and CEO of Sculpt LLC, Social Media Marketing Agency based in Iowa City, Iowa. Sculpt focuses on social media community management, strategic planning, creative execution, and brand development in the digital space.  Krakauer is a graduate of the University of Iowa, and is "obsessed" with all things social, web and startup.

Technological Changes & Effective Video for PR - Joe Brown, MediaWork Productions

The breakout session will discuss changing technology over the years and effective video for public relations. A short Q&A will also be included, so get your questions about video ready! Founded in 2001, MediaWork Productions produces video for businesses and non-profits along with some agency work. Brown is a co-owner of MediaWork. He is a graduate of Auburn University, with a B.A. in Mass Communications, double minor in Journalism and Business Management.

Media Buying - Natalie Linnville-Mass, MediaLink

This breakout session will focus on media buying, and will explore the differences between using a media buying software and buying by hand, as well as what media buyers look at when buying TV, Radio, Cable, Print, Outdoor, and Online. Trends and processes behind media buying will also be discussed. Natalie Linville-Mass is President of Media Link, Inc., has been in the media field for more than 25 years. She graduated from Drake University with a degree in Broadcast Sales and Management.  Natalie has successfully grown Media Link over the past 14 years through her consultation, media placement and development of Media Link Software™.

Crisis Management - John Riches, Aloca

"Social media - creating crisis when none exist." Curious? Attend this session to learn more. John Riches is Communications & Public Affairs Manager for Alcoa in the Quad Cities. He has managed high-profile visits to the plant by President Obama and Governor Branstad. He is a former TV Reporter and News Director at WQAD-TV. John graduated from Iowa State University with a B.S. Degree in Broadcast Journalism and minors in Economics and Computer Science.

"We're very excited to have Mr. Caruso as our keynote speaker. He will motivate and inspire attendees to be better people," said Amy Kolner, Half Day Workshop Director. "Plus, our breakout sessions are covering such a wide range of topics - there is something for every marketer and PR professional in the Quad Cities. We are also excited to honor our first winner of the Marketing and Public Relations Professional of the Year award!"

PR Network of the Quad Cities Half Day Workshop

§  When: Tuesday, April 21 from 8 a.m. - Noon

§  Where: iWireless Center, 1201 River Drive, Moline, IL

Advanced registration is required. Deadline to register is April 10. For additional event details and to RSVP your attendance, please visit http://www.prnetworkqc.org/workshop.php.

For more information about PR Network of the Quad Cities and to learn about membership opportunities, visit http://www.prnetworkqc.org/ orwww.facebook.com/PRNetworkQC.

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About PR Network of the Quad Cities

PR Network of the Quad Cities, Inc. provides professional development, networking and educational opportunities to individuals interested in the marketing/public relations/communications field.

Statement attributable to Lance Trover, Director of Communications, Office of the Governor

"The Rauner administration respectfully disagrees with the Attorney General's opinion regarding local right-to-work. The administration is confident that with enabling legislation from the state, local governments can create employee empowerment zones."