MOST ETHICAL ++ 333 COMPANIES · 2016-03-02 · Investment Management Inc., 625 Fourth Ave. S.,...

2015 Annual Report to Members | 3

Condensed Statutory Financial Information

As of Dec. 31 (in millions) 2014 2015

Admitted assets

Bonds $39,036 $40,508

Stocks 1,339 1,461

Mortgage loans 7,378 7,558

Cash and short-term investments 1,503 1,808

Other investments 4,063 4,102

Total investments 53,319 55,437

Other assets 596 613

Assets held in separate accounts 23,079 24,062

Total admitted assets $76,994 $80,112

Liabilities

Reserves for life, annuity and health contracts

$43,990 $45,419

Provision for dividend payments* to members

236 312

Other liabilities 3,269 3,245

Liabilities related to separate accounts 23,006 24,009

Total liabilities 70,501 72,985

Capital and surplus 6,493 7,127

Total liabilities and surplus $76,994 $80,112

For the year ended Dec. 31 (in millions) 2014 2015

Premium income and contract proceeds $5,540 $5,565

Net investment income 2,686 2,805

Other income 713 751

Total revenue $8,939 $9,121

Contractholders’ benefits 7,116 7,241

Commissions and operating costs 993 1,044

Other 16 24

Total benefits and expenses $8,125 $8,309

Gain from operations before capital gains and losses

814 812

Capital gains (losses), net (49) (42)

Net income $765 $770

* Dividends are not guaranteed.Thrivent Financial derived the financial information above fromour audited financial statements. For a copy of the completestatutory-basis financial statements, visit Thrivent.com.

Financial ResultsOPE

25012 R2-16

We are a membership organization of Christians, and our members are our owners.

Our purpose is to serve our members and society by guiding both to be wise with money and live generously.

We believe that all we have is a gift from God and that generosity is an expression of faith.

We succeed when our members, their families and their communities thrive.

We value our relationships, so we will: Be trustworthy in character and competence, and Act like owners and treat each other as owners, and Live balanced and generous lives.

The Thrivent Way

Helping you thrive®

As a Thrivent member, you have access to solutions and programs to help you live better:

• Financial guidance that reflects your values.

• Financial solutions to help secure your future, includinginsurance, annuities, IRAs, mutual funds and educationfunding options.

• Programs to help churches and communities,including Thrivent Action Teams, Thrivent Builds andThrivent Choice®.

• Other resources, including free and discounted services,free educational resources and workshops, and specialfinancial assistance benefits.

HIGHEST OF 16 RATINGS

A++SUPERIOR**A.M. BEST, JUNE 2015

No.333ON THE FORTUNE 500FORTUNE MAGAZINE, JUNE 2015

* Thrivent earned this distinction as a result of our leadership in promoting ethical business standards. Ethisphere Instituteis a leading international think tank dedicated to the creation, advancement and sharing of best practices in business ethics, corporate social responsibility, anticorruption and sustainability.

** Ratings reflect Thrivent’s overall financial strength and claims-paying ability but do not apply to the performance of investment products.

Insurance products issued or offered by Thrivent Financial, the marketing name for Thrivent Financial for Lutherans, Appleton, WI. Not all products are available in all states. Securities and investment advisory services are offered through Thrivent Investment Management Inc., 625 Fourth Ave. S., Minneapolis, MN 55415, a FINRA and SIPC member and a wholly owned subsidiary of Thrivent. Thrivent Financial representatives are registered representatives of Thrivent Investment Management Inc. They are also licensed insurance agents/producers of Thrivent.

NAMED ONE OF THE WORLD’S

MOST ETHICAL COMPANIESBY ETHISPHERE INSTITUTE*

Appleton, Wisconsin • Minneapolis, Minnesota

Thrivent.com • 800-847-4836 •

ON A MISSION . . . FOR YOU2015 Annual Report to Members

The new Thrivent members who work at His House Children’s Home, like Carolina Osorio, embody the full mission of Thrivent Financial.

2 | Thrivent Financial

Strong and Mission-Driven

Dear Fellow Members:

As we share 2015 results with you, we hope you take pride in being part of a strong membership organization that is focused on its mission: a unique mission to help Christians be wise with money and live generously.

Living Our Mission. Almost every organization has a mission. But at Thrivent Financial, we truly use our mission as a guide, not just words on paper. Our goal is to help more Christians achieve a feeling of “surplus”—where they feel like they have enough for themselves and enough to share. This is a mindset, by the way, that doesn’t come from how much money you have. It comes from a feeling of confidence and stewardship.

Spreading Our Mission. Helping more Christians have a healthier relationship with money means growing our membership by serving more people. One question we get asked often is: How is Thrivent doing beyond Lutherans? The good news is that membership is indeed growing in other Christian communities—mostly due to new financial representatives who bring new relationships with them. And in 2015 we aligned our efforts around three focus areas to advance our mission even further:

• Thrivent Financial is continuing to serve Christians throughour existing team of financial representatives.

• Thrivent Holdings is introducing Thrivent to people viaThrivent Mutual Funds, Thrivent Federal Credit Union andother direct touchpoints.

• The Thrivent Church Services Group is exploring how Thriventcan offer resources and services to Christian churches.

Financial Strength Makes It All Possible. Spreading our mission wouldn’t be possible without a strong financial foundation. And that we continue to have. As indicators, just take a look at our assets and surplus. You’ll find more financial results on page 3.

At Thrivent, we aren’t just on a mission for mission’s sake. We’re on a mission for you and your financial future. Our success is about people, not numbers. Thanks for being part of our mission to help Christians be wise with money and live generously.

Brad Hewitt Dick Moeller

Chief Executive Officer Chair of the Board of Directors

New members joining Thrivent

201520142013

Includes benefit, associate and juvenile members

Assets under management/ advisement In billions as of Dec. 31

201520142013

$105.4$98.8$109.2

Total adjusted surplus In billions as of Dec. 31

201520142013

$7.6$6.9

Unlike stock companies—which answer to shareholders—our structure as a membership-owned fraternal benefit society allows us to return a portion of our surplus to members in the form of dividends.

In 2015, the board approved returning $312 million to eligible members in 2016—one of the largest dividend distributions in Thrivent’s history. This is possible due to our strong performance in:

•Investment results

•Expense savings

•Positive claims experience

Sharing financial strength with our members:

DIVIDENDS INCREASE BY

TO: MEMBERS FROM: $312

MILLION

Admitted assets

Bonds $39,036 $40,508

Stocks 1,339 1,461

Liabilities

$43,990 $45,419

236 312

Other 16 24

814 812

* Dividends are not guaranteed. Thrivent Financial derived the financial information above from our audited financial statements. For a copy of the complete statutory-basis financial statements, visit Thrivent.com.

25012 R2-16

The Thrivent Way

• Financial solutions to help secure your future, including insurance, annuities, IRAs, mutual funds and education funding options.

• Programs to help churches and communities, including Thrivent Action Teams, Thrivent Builds and Thrivent Choice®.

• Other resources, including free and discounted services, free educational resources and workshops, and special financial assistance benefits.

* Thrivent earned this distinction as a result of our leadership in promoting ethical business standards. Ethisphere Institute is a leading international think tank dedicated to the creation, advancement and sharing of best practices in business ethics, corporate social responsibility, anticorruption and sustainability.

Thrivent.com • 800-847-4836 •

• Thrivent Financial is continuing to serve Christians through our existing team of financial representatives.

• Thrivent Holdings is introducing Thrivent to people via Thrivent Mutual Funds, Thrivent Federal Credit Union and other direct touchpoints.

• The Thrivent Church Services Group is exploring how Thrivent can offer resources and services to Christian churches.

201520142013

$105.4$98.8$109.2

201520142013

$7.6$6.9

•Expense savings

MILLION

Admitted assets

Bonds $39,036 $40,508

Stocks 1,339 1,461

Liabilities

$43,990 $45,419

236 312

Other 16 24

814 812

25012 R2-16

The Thrivent Way

Thrivent.com • 800-847-4836 •

201520142013

$105.4$98.8$109.2

201520142013

$7.6$6.9

•Expense savings

MILLION

OUR MEMBERSHIP ORGANIZATION OF CHRISTIANS . . .

2,310,841 THRIVENT MEMBERS shared a common bond of Christianity, with 51,814 new members joining in 2015

18,342CHRISTIAN CHURCHESreceived Thrivent Choice® grant funds, based on member input

THRIVENT HELPEDchurches and other ministries with loans to support their needs, for a total investment of almost $900 million

All numbers as of Dec. 31, 2015

Thrivent’s mission of helping Christians be wise with money and live generously is playing out at King of Kings Lutheran Church in Fairfax, Virginia. The 69 Thrivent members who attend the church are putting financial strategies in place and serving their community with the help of Thrivent’s programs and products. In fact, their generosity was visibly on display all year long. Thrivent members led 30 Thrivent Action Teams throughout the year to make hats for the homeless, package meals, improve the church grounds and much more.

The entire congregation is also benefiting from Thrivent resources, including four financial workshops held by Thrivent Financial Representative Mark Knauff in 2015. And when church leadership was exploring refinancing their mortgage, they went with two customized loans from Thrivent’s Church Loan Program. “Thrivent understands churches and their financial needs, and they were able to offer us a vehicle not matched by any commercial lender,” said the Rev. Lynn Miller. “We now have a couple thousand dollars each month that are freed up for ministry.”

On a mission . . . for King of Kings Church

HELPS MEMBERS BE WISE WITH MONEY . . .

2,346helped families achieve their financial goals via 538,000+ meetings

FINANCIAL REPRESENTATIVES

32,141held to review families’ financial security

43,000+

people learned more about financial topics

by attending THRIVENT WORKSHOPS

INSURANCE CHECKUPS

OUR MISSION IN ACTION IN 2015

These members’ experiences may not be representative of the experience of other clients. These stories are also not indicative of future performance or success.

Being wise with money is important to Tim and Jessica Jackson. They wanted to consolidate their financial products with one organization—and they wanted to identify any gaps in their financial strategy. That’s why they sought guidance from Thrivent representatives Tamba Johnson and Patrick Anderson, and became new Thrivent members in 2015.

But this husband-and-wife pastor team is concerned about more than just their own finances. They’re on a mission to make sure that every member of their church, Impact Living Christian Center of Minneapolis, Minnesota, is financially healthy and ideally has a credit score of 700 or more. Thrivent is serving the church by leading financial workshops and working with church members one-on-one.

“Thrivent has been a blessing,” said Pastor Jess. “It’s been a wonderful experience to work with people who share our faith and have financial conversations that involve generosity. You don’t get that with other financial services organizations.”

On a mission . . . for Tim and Jessica Jackson

AND LIVE GENEROUSLY . . .

“The Thrivent Story” equation depicts the Thrivent mission and how it strengthens members, families and communities. See the impact we made together in 2015!

* Directing Choice Dollars® is subject to the Terms and Conditions of the Thrivent Choice program. The Thrivent Choice charitable grant program engages Thrivent members and chapters in providing grants that support charitable activities, furthering Thrivent’s mission and its purposes under state law.

** The mission of the InFaith Community Foundation is intentionally aligned with Thrivent’s mission. It is a public charity and community foundation.

THRIVENT BUILDS with Habitat for Humanity: Volunteers rolled up their sleeves

to build, repair or fund 816 homes, improving housing for

2,067 people

THRIVENT ACTION TEAMS:

51,774 MEMBERS led more than 65,000 volunteer teams to support causes they care about

MEMBERS PARTICIPATED

THRIVENT CHOICE:*

313,700 and 29,196 enrolled nonprofit organizations received $54.3 million in grant funding

Beverly Sundgren of Leonardville, Kansas, is “always giving,” according to Thrivent Financial Representative Jim Feret. She and her husband, Eldon, proved that on the eve of their retirement from farming in April. After a lifetime in agriculture, they decided to auction off their farm equipment to fund a charitable remainder trust at InFaith Community Foundation.** The trust provides them with lifetime income. And after their deaths, it will become a donor-advised fund that will let the Sundgren children continue their parents’ legacy of generosity.

But the Sundgrens wanted to do even more for others during the auction. So Beverly led a Thrivent Action Team with the local American Legion Auxiliary to prepare and serve lunch—including 50 homemade pies. They donated the $1,300 in proceeds from the lunch to military families stationed at nearby Fort Riley.

Beverly and Eldon also actively participate in Thrivent Choice®by directing Choice Dollars®to Kansas Specialty Dog Services and Oaks Indian Mission. The Sundgrens believe living generously is what they’re called to do as Christians, and they demonstrate that every day.

On a mission . . . for the Sundgren family and their favorite causes

LEADING TO STRONGER MEMBERS, FAMILIES AND COMMUNITIES

$203.9 millionIN TOTAL OUTREACH from Thrivent* and our members to help churches and communities

$2 billionto member families/beneficiaries through insurance and annuity benefits

PAID OUT

$187.4 billionof life insurance in force, ready to help when needed

* Funding for outreach comes from our tax exemption as a not-for-profit fraternal benefit society. Money we would otherwise pay in certain taxes instead goes to strengthen the communities, churches and causes our members care about.

His House Children’s Home of Miami Gardens, Florida, is mission-driven just like Thrivent Financial. That’s one reason why the two organizations have such a great relationship. In 2014, Thrivent Financial Representative Sara Mercado started volunteering at His House, which provides a caring Christian environment for abused, abandoned and neglected children. She used the opportunity to introduce His House to Thrivent’s offerings—related to both financial services and giving back. Today, Thrivent is the provider for His House’s sponsored retirement plans. Seventy employees are new Thrivent members and are now successfully saving for retirement.

Thrivent’s generosity programs also benefit His House, including multiple Thrivent Builds and Thrivent Action Team projects.

“I’m so appreciative that Thrivent is always looking for ways to meet His House needs, which ultimately are the children’s needs,” said Silvia Smith-Torres, executive director of His House and a new Thrivent member.

On a mission . . . for the employees and kids of His House Children’s Home

43,000+

INSURANCE CHECKUPS

2,067 people

THRIVENT CHOICE:*

PAID OUT

43,000+

INSURANCE CHECKUPS

2,067 people

THRIVENT CHOICE:*

PAID OUT

43,000+

INSURANCE CHECKUPS

2,067 people

THRIVENT CHOICE:*

PAID OUT

Admitted assets

Bonds $39,036 $40,508

Stocks 1,339 1,461

Liabilities

$43,990 $45,419

236 312

Other 16 24

814 812

25012 R2-16

The Thrivent Way

Thrivent.com • 800-847-4836 •

201520142013

$105.4$98.8$109.2

201520142013

$7.6$6.9

•Expense savings

MILLION

MOST ETHICAL ++ 333 COMPANIES · 2016-03-02 · Investment Management Inc., 625 Fourth Ave. S.,...

Documents

Transcript of MOST ETHICAL ++ 333 COMPANIES · 2016-03-02 · Investment Management Inc., 625 Fourth Ave. S.,...