Independent Order of Foresters
501(c)(8)
100% goes to programs Strong reserves Growing revenue
Independent Order of Foresters is a 501(c)(8) organization, registered in 1966, with $835,751,204 in FY2024 revenue. CharityIndex grades it A+, and it directs about 100% of spending to programs.
Toronto On M3c 1t9, Canada, 00000 EIN 98-0000680 Since 1966
Revenue (FY2024)
$835.8M
▼ 10.0% vs prior year
Expenses (FY2024)
$762.2M
Net assets
$1.5B
Employees
85
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A+
A+Program efficiency40% of the rating100% to programs
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For Independent Order of Foresters: 100% to programs earns a A+ on this criterion. See the exact thresholds →
AFinancial health25% of the rating23 mo reserves · +9% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Independent Order of Foresters: 23 mo reserves · +9% margin earns a A on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Independent Order of Foresters: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
A+Transparency10% of the rating5 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Independent Order of Foresters: 5 of 5 disclosure signals earns a A+ on this criterion. See the exact thresholds →
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Mission
Foresters is a fraternal benefit society that provides financial services products and unique benefits to its members and their families. through its member-governed branch network, foresters members are provided opportunities to organize and participate in local volunteer activities and family-focused events. within this model of community service, foresters lives its purpose of enhancing the well-being of its members, their families and their local communities.
What they do
Fraternal benefits and grants: foresters provide its members, at no additional cost, with a variety of fraternal benefits outside of the traditional insurance benefits described above. these benefits demonstrate foresters commitment to the purpose of assisting members, enhancing their well-being, and benefiting their communities. these benefits provide aid in times of trouble, illness or need. the following programs were funded by foresters for its members. competitive scholarship program (us/canada/uk): - foresters granted 430 scholarships valued at $2,500/year in local currency in north america and £1,000/year in the uk, to members, their spouses, children and grandchildren. this benefit was awarded based upon academic credentials and participation in charitable and philanthropic activities. foresters provided approximately $992,000 towards the competitive scholarship program in 2024. foresters renew program (us/canada/uk): - foresters granted 370 scholarships valued at $1,000/year in local currency in north america and £1,000/year in the uk, to members, their spouses, children and grandchildren. this benefit was awarded based upon academic credentials and participation in charitable and philanthropic activities. foresters provided approximately $574,750 towards the renew program in 2024. lifelong learning/lawassure (us/canada/uk): - foresters provided these two personal assistance benefits to foresters members who are seeking learning & development in areas such as but not limited to financial planning, health & wellness, and professional development... as well as access to an online document preparation tool to support in documental creation such as wills & power of attorney". lifelong learning allows foresters members to explore learning opportunities through a customizable online platform where they can learn at their own pace and track their progress. lifelong learning provides members with access to over 200 in-demand personal development courses and is offered to foresters members in all geographic areas. it cost approximately $139,600 to fund this benefit in 2024. lawassure is an online document preparation service that gives you access to customizable documents, making it simple and convenient. members can create customizable wills, powers of attorney and healthcare directives from the comfort of their own home. it cost approximately $239,000 to fund this benefit in 2024. connected health program/foresters go dacadoo (us/canada/uk): - foresters go is digital wellness app-based benefit where members can proactively track their diet and fitness habits using different wellness features and earn reward points. purpose & community (p&c) is a purpose-driven section of this member benefit designed to reward members and boost their wellbeing through volunteering. in 2024, over 6,980 participated in the foresters go program and earned rewards points from downloading and registering the foresters go app, from promotions and in-app activities and challenges. it cost over $773,400 to fund this program in 2024. critical/terminal illness benefits (us/canada): - in 2024, 205 foresters members received approximately $451,000 in benefits to help defray the cost of health care. orphan benefits (us/canada): - in 2024, foresters provided approximately $118,200 to legal guardians for care and support of orphans. additionally, orphans received four years college scholarships. senior member benefits (us/canada): - foresters provided complete residential housing and/board for 22 of its most needy members at two retirement homes. in 2024, approximately $476,250 in services were provided. funding local community activities - granting (us/canada/uk): - in 2024, foresters contributed approximately $4.0 million to the branch network in the us, uk and canada. these funds are held in trust in separate accounts and is administered by the foresters staff on behalf of foresters branches in the us, uk and canada. members can apply for these funds to
Contact & location
- Address
- Toronto On M3c 1t9, Canada, 00000
- City
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- State
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- Category
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- Subcategory
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- Phone
- …
- Website
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Financial trends
Revenue grew from $362.1M (FY2013) to $835.8M (FY2024) across 12 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $3.7BNet assets $1.5B
Operating margin
8.8%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$5.2B
Total liabilities
$3.7B
Net assets
$1.5B
Salaries & benefits
$89.6M
12% of expenses
Board members
15
14 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $835,751,204▼10.0% | $762,172,580▼6.4% | $1,486,225,667▼3.4% | $5,193,474,694▲0.6% | 990 |
| 2023 | $928,907,905▲10.1% | $814,587,687▲7.6% | $1,538,170,355▲0.1% | $5,161,949,709▲0.7% | 990 |
| 2022 | $843,418,120▲18.3% | $756,949,204▼10.9% | $1,537,025,970▼1.4% | $5,126,809,799▼16.4% | 990 |
| 2021 | $713,057,039▼36.9% | $849,705,626▼22.8% | $1,559,518,082▼7.4% | $6,129,337,660▲1.3% | 990 |
| 2020 | $1,130,456,950▼5.5% | $1,101,104,734▲7.0% | $1,683,563,851▲4.9% | $6,051,431,042▲15.8% | 990 |
| 2019 | $1,195,631,169▲122% | $1,029,435,528▲88.6% | $1,604,813,703▲8.4% | $5,227,541,187▲13.4% | 990 |
| 2018 | $538,179,337▼32.4% | $545,781,221▼36.8% | $1,480,131,112▼8.4% | $4,609,529,273▼6.3% | 990 |
| 2017 | $795,558,476▲35.7% | $863,469,843▲20.6% | $1,615,284,590▲2.4% | $4,920,809,516▲7.7% | 990 |
| 2016 | $586,446,871▼19.1% | $716,261,965▲69.0% | $1,577,988,431▼4.7% | $4,568,716,357▲2.2% | 990 |
| 2015 | $725,123,653▼22.1% | $423,877,464▼41.8% | $1,655,156,584▲0.8% | $4,469,111,827▼3.8% | 990 |
| 2014 | $931,362,490▲157% | $728,687,288▲274% | $1,642,572,124▲3.9% | $4,646,549,021▲4.5% | 990 |
| 2013 | $362,052,691 | $194,980,235▼66.0% | $1,581,130,846▲4.2% | $4,447,075,660▼7.1% | 990 |
| 2012 | — | $573,323,954▲10.0% | $1,517,361,817▲854% | $4,785,260,695▲71.5% | 990 |
| 2011 | — | $521,253,201 | $159,061,355 | $2,789,815,266 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2024)
Highest-paid: Matthew Berman — $1,029,578 (0.14% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Matthew Berman | President and Chief Executive Officer | 50 | $1,029,578 |
| Rene Zanin | Chief Legal, Administrative & Membership Officer | 50 | $829,308 |
| Alvin Sharma | Global Chief Financial Officer | 50 | $777,677 |
| Mehul Kapadia | Global Chief Information and Operations Officer | 50 | $697,502 |
| Mark Rush | Chief Distribution Officer, Us Sales | 50 | $511,780 |
| Clark Wagner | Chief Investment Officer | 50 | $412,500 |
| Trudy Engel | Vice President and Appointed Actuary | 50 | $366,563 |
| Parker Brown | General Counsel & Vice President, Data Governance | 50 | $356,401 |
| Patricia Colavita | Svp and Chief Internal Auditor | 50 | $351,895 |
| Sujeether Kumareswaran | Vice President, Capital, Business Planning and Strategy | 50 | $347,757 |
| Caroline Rendall | Chief Risk Officer | 50 | $342,280 |
| Daniel Fortin | Director | 5 | $307,777 |
| Cindy Wang | Interim Executive Head, Can Op | 50 | $307,549 |
| Kelly Steinmetz | Avp, Us Sales | 50 | $289,878 |
| Meghan Seybold | Vp, People & Culture | 50 | $284,890 |
| Charles Morrison | Avp, Us Sales | 50 | $284,294 |
| Bruce Burak | Avp, Us Sales | 50 | $276,833 |
| Douglas Parrott | Assistant Vice President, Chief Underwriter-north America | 50 | $272,815 |
| Julia Fantilli | Vp, Us Customer Service and New Business | 50 | $267,687 |
| Balina Bawa | Vice President, Global Tax Compliance and Planning | 50 | $266,474 |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Cgi Information Systems and Management Consultants Inc | Project Support | $19,853,745 |
| Php Agency Inc | Sales | $9,924,147 |
| Symmetry Financial Group | Sales | $5,185,801 |
| Superior Performers Inc | Sales | $5,045,607 |
| Allstate Financial Services LLC | Sales | $4,655,945 |
Grants made · $3.1M in FY2024
5 grants totaling $3.1M in FY2024. All grants made by Independent Order of Foresters →
| Recipient | Purpose | Amount |
|---|---|---|
| Us Branch Network | — | $2,417,409 |
| Kaboom | — | $332,987 |
| Member Engagement | — | $242,708 |
| Marjaree Mason Center | — | $50,000 |
| Us Hunger | — | $45,500 |
Frequently asked questions
- Is Independent Order of Foresters a legitimate nonprofit?
- Yes. Independent Order of Foresters is a 501(c)(8) organization registered with the U.S. Internal Revenue Service under EIN 98-0000680.
- What is Independent Order of Foresters's EIN?
- Independent Order of Foresters's Employer Identification Number (EIN) is 98-0000680.
- How much revenue does Independent Order of Foresters report?
- Independent Order of Foresters reported $835,751,204 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much of Independent Order of Foresters's spending goes to programs?
- Independent Order of Foresters spends about 100% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Independent Order of Foresters have?
- CharityIndex grades Independent Order of Foresters A+, based on program efficiency and fundraising cost.
- How much does Independent Order of Foresters's highest-paid employee make?
- The highest reported compensation on Independent Order of Foresters's latest Form 990 is $1,029,578, paid to Matthew Berman (President and Chief Executive Officer).
Explore more
Data for Independent Order of Foresters (EIN 98-0000680) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.