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American Bar Endowment 2016 Annual Report                   Bookmark and Share



ABE 2015-2016 Policy Dividends


The American Bar Endowment is announcing the amount of policy dividends available from its group insurance programs. For each program, the approximate amount of net policy dividends as a percentage of premium paid is shown below.

Life insurance:

20 percent of premiums due and paid for the period June 1, 2015 through May 31, 2016.

Disability Income:

Premiums due and paid for the period November 1, 2014 through October 31, 2015 were less than claims and expenses incurred, consequently there will be no dividend.

Hospital Money:

28 percent of premiums due and paid for the period November 1, 2014 through October 31, 2015.

Accidental Death & Dismemberment:

Premiums due and paid for the period August 1, 2015 through July 31, 2016 were less than claims and expenses incurred, consequently there will be no dividend.

Excess Major Medical:

Premiums due and paid for the period March 1, 2015 through February 28, 2016 were less than claims and expenses incurred, consequently there will be no dividend.

Professional Office Overhead Expense:

41 percent of premiums due and paid for the period July 1, 2015 through June 30, 2016.

Members may request a refund of the dividends attributable to their participation by submitting a written request by mail to the
American Bar Endowment, 321 N. Clark Street, 14th Floor, Chicago, IL 60654-7648, fax to 312-988-6401, or email to dividends@abendowment.org. (Please be sure your member number is on the request.)

Requests for refunds can be sent starting January 1st, but must be received no later than December 15th each year. When a request for refund is received, a confirmation will be mailed to you acknowledging the request. If the confirmation is not received within three weeks, contact the ABE to confirm receipt. Members who donate their dividends to ABE to support its charitable mission are eligible for a charitable contribution deduction on their individual income tax returns. Notice of the exact amount of contribution will be mailed in late January. Written requests for refunds must be submitted each year.




AMERICAN BAR ENDOWMENT STATEMENT OF ACTIVITIES FOR FISCAL YEARS 2016 and 2015

 

YEAR ENDED JUNE 30
Changes in unrestricted net assets: 2016 2015
   Revenues and gains:
     Contributions  $6,169,145  $5,495,137
     Income on long term investments  3,053,606  2,799,000
     Net unrealized and realized gains on long-term investments  (2,366,253)  2,349,957
     Insurance premiums received  24,354,628  25,269,183
     American Bar Insurance Plans Consultants, Inc.  36,793  143,689
     Other income  210,301  215,832
 
Total unrestricted revenues and gains  31,458,220  36,272,798

 

Expenses:
     Life program  2,641,138  1,356,290
     Disability program  1,106,476  984,773
     Hospital Money program  139,035  133,757
     Excess Major Medical program  342,483  246,210
     Accidental Death and Dismemberment program  281,144  426,566
     Professional Office Overhead Expense program  39,240  54,340
     Other Programs  185,858  202,301
     Insurance premiums paid  24,354,471  25,268,393
     Management and general  277,082  242,293
     Grants paid  6,494,834  6,024,744
     Pension   1,005,152  418,414
     Income taxes  83,984  70,228
 
Total expenses  36,950,897  35,428,309
 
Increase in unrestricted net assets  (5,492,677)  844,489


Changes in permanently restricted net assets:
     Donations  10,636  5,212
     Net unrealized and realized gains(losses) on investments  59,527  111,728
 
Increase in permanently restricted net assets  70,163  116,940
 
Change in net assets before cumulative effect of a
change in accounting principal
 (5,422,514)  961,429
     Cumulative effect adjustment  -  -
 
Change in net assets after cumulative effect adjustment  (5,422,514)  961,429
 
Net assets at beginning of year  123,725,642  122,764,213
 
Net assets at end of year  $118,303,128  $123,725,642




AMERICAN BAR ENDOWMENT
GRANT PAYMENTS MADE FOR 2016 AND 2015


FY 2015-2016 FY 2014-2015
American Bar Association Fund for Justice and
Education for support of its public service programs  $3,247,417  $3,012,372
   
American Bar Foundation for support of its research
programs and administration  3,247,417  3,012,372
 
Total  $6,494,834  $6,024,744
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