FCSU Financial

Legal name: First Catholic Slovak Union of the United States of America and Canada

Nonprofit profile at a glance

EIN
340220550
IRS 990 coverage
2010–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024, Form 990-N 2024
Location
Independence, OH, United States
Phone
800.533.6682 ext 123
Rating
65
Verdict
SUPPORTED
Rating confidence
Moderate
Affiliation
Christianity

Official website

Reported finances

Revenue
$66,307,977
Expenses
$66,324,504
Assets
$587,455,963
Liabilities
$533,037,472

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

19 people listed

Executive titles in this filing

  • Kenneth A Arendt (President)
  • Damian D Nasta (Vice-President)

Highest reported compensation

  • Kenneth A Arendt (President): $207,257 total reported compensation
  • Kevin Collins (Executive Secretary): $174,198 total reported compensation
  • John V Tokarsky (Treasurer): $68,800 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Since 1890 the FCSU mission has been to provide financial security for our members through competitive investment products, while offering fraternal and cultural benefits through community-based member events. As we joyfully prepare to celebrate the birth of our Savior, I extend my heartfelt wishes to you and your families for a blessed and peaceful Christmas season. May the hope, peace, and light of Christ fill your homes, and may the spirit of faith, fraternity, and our heritage continue to unite and strengthen us as one family. This past year has been a time of dedication and perseverance for our Society. Through your continued support, we have maintained our mission of service—caring for our members, supporting our communities, and providing financial security through our life insurance and annuity products. Thank you for the trust you place in us and for the fraternal spirit you...

What it reported doing in 2024

To provide life insurance and annuities and other fraternal benefits to members of this fraternal union.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Member-benefit provider. The nonprofit used 67% of its reported program spending for member benefits.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and program spending has grown recently. A relatively small share of voting board members are independent and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 44
  • Accountability: 42
  • Sustainability: 49
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 86.7%; rating input score 87; 1st percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 0%; rating input score 0; 3rd percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 4th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -0%; rating input score 27; 27th percentile among comparable filings
  • Total-asset coverage ratio: 8.86; rating input score 90; 90th percentile among comparable filings
  • Liabilities to assets ratio: 0.91; rating input score 12; 12th percentile among comparable filings
  • Officer compensation ratio: 1.2%; rating input score 71; 71st percentile among comparable filings

Growth

  • Program expense growth: 11.2% per year; rating input score 100; 78th percentile among comparable filings
  • Revenue growth: 8.1% per year; rating input score 100; 67th percentile among comparable filings
  • Asset growth: 5.6% per year; rating input score 100; 41st percentile among comparable filings

Details

  • What they do: 1 operating location identified
  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 0 of 15 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $207K · 19 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 3 contractors listed · $644K reported
  • Consistency: 32 of 34 current checks pass · 2 findings to review
  • Schedules: 5 filed schedules · includes grants and executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 19 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Accountability: Independent voting board scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Transparency & Controls: Grant itemization coverage scored 0/100.
  • High — Sustainability: Operating margin scored 27/100.
  • High — Sustainability: Liabilities to assets ratio scored 12/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.