Strong fraternal and financial resources, an increase in active life insurance policies, a growing surplus and continued community impact were among the highlights of Modern Woodmen of America’s year-end report. “Our 2024 results reflect the work we’ve done to fulfill our mission – from growth in net income and members’ life insurance coverage to enhanced […]
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Strong fraternal and financial resources, an increase in active life insurance policies, a growing surplus and continued community impact were among the highlights of Modern Woodmen of America’s year-end report.
“Our 2024 results reflect the work we’ve done to fulfill our mission – from growth in net income and members’ life insurance coverage to enhanced member programs and much more,” Jerry Lyphout, president and CEO of the Rock Island-based fraternal services organization, said in a news release. “None of this would be possible without the skills and talents of our field representatives and employees. We thank our members for their continued trust in our organization.”
The 142-year-old Modern Woodmen’s mission is an obligation and commitment to improving quality of life for its members, the release said.
“Our 2024 results reflect the work we’ve done to fulfill our mission – from growth in net income and members’ life insurance coverage to enhanced member programs and much more,” Jerry Lyphout, president and CEO of the Rock Island-based fraternal services organization, said in a news release. “None of this would be possible without the skills and talents of our field representatives and employees. We thank our members for their continued trust in our organization.”
The 142-year-old Modern Woodmen’s mission is an obligation and commitment to improving quality of life for its members, the release said.
2024 highlights
Highlights of the year-end report and their impact shared by Modern Woodmen included:- Life insurance in force grew to $45.17 billion. That continued growth shows the value of protection during hardship.
- Total assets increased to $18.17 billion, while liabilities equaled $15.57 billion. Modern Woodmen’s solvency ratio of 116.67% continues to exceed the industry average, supporting the organization’s commitment to members.
- Fraternal support for members and their communities totaled $17.4 million. It included college scholarships, matching funds for member-chosen causes in their communities, a national campaign supporting animal-related causes and more.
Supporting communities
Modern Woodmen also highlighted the programs that work to improve members’ quality of life. For example, nearly 700,000 people throughout the United States are Modern Woodmen members. Last year, the organization contributed $17.4 million to support member- and community-oriented programs across the nation. Examples from 2024 include:- The Wild About Animals Initiative celebrates the role animals play in our lives and environment. That includes supporting mental and physical health and providing community service. In 2024, Modern Woodmen members helped animal shelters, local pets and service animals through fundraisers, donations, and more.
- Modern Woodmen’s Financial Relief Fund covered more than $80,000 in premiums for members experiencing financial distress due to medical or natural disasters.
- The Birthday Book Club gave more than 17,000 children a free book for their birthdays.
- Make An Impact Scholarships awarded $450,000 to 198 member students.
- Nearly 250,000 volunteer hours were contributed by members and their guests through Modern Woodmen service projects.
- Member chapters and youth clubs supported more than 3,500 community fundraisers through Modern Woodmen’s Matching Fund Program. In partnership with community groups, members helped raise a total of $55.9 million, including $5.5 million of Modern Woodmen’s direct matching contributions, in 2024.
