# EDGAR Filing Document

**Accession Number:** 0001146202
**File Stem:** 0001146202-23-000001
**Filing Date:** 2023-3
**Character Count:** 12990
**Document Hash:** f66cdd6f8567ec596deb54ddfdfa55a9
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001146202-23-000001.hdr.sgml**: 20230315

**ACCESSION NUMBER**: 0001146202-23-000001

**CONFORMED SUBMISSION TYPE**: X-17A-5

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230315

**DATE AS OF CHANGE**: 20230315

**EFFECTIVENESS DATE**: 20230315

**PERIOD START**: 20220101

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** WOODMEN FINANCIAL SERVICES, INC.
- **CENTRAL INDEX KEY:** 0001146202
- **IRS NUMBER:** 223828171
- **STATE OF INCORPORATION:** NE

**FILING VALUES:**
- **FORM TYPE:** X-17A-5
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 008-53592
- **FILM NUMBER:** 23736056

**BUSINESS ADDRESS:**
- **STREET 1:** 1700 FARNAM STREET
- **CITY:** OMAHA
- **STATE:** NE
- **ZIP:** 68102
- **BUSINESS PHONE:** (402) 661-8307

**MAIL ADDRESS:**
- **STREET 1:** 1700 FARNAM ST.
- **CITY:** OMAHA
- **STATE:** NE
- **ZIP:** 68102

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** WOODMEN FINANCIAL SERVICES INC                          /BD
- **DATE OF NAME CHANGE:** 20020213

### Attached PDF Documents

**Attachment 1:** `Public2.pdf`

# FINANCIAL STATEMENTS AND  
SUPPLEMENTAL INFORMATION

Woodmen Financial Services, Inc.  
Years Ended December 31, 2022 and 2021  
With Report and Supplemental Report  
of Independent Registered Public Accounting Firm

# UNITED STATES

# SECURITIES AND EXCHANGE COMMISSION

# Washington, D.C. 20549

OMB APPROVAL

OMB Number: 3235-0123

Expires: Oct. 31, 2023

Estimated average burden

hours per response: 12

# ANNUAL REPORTS

# FORM X-17A-5

# PART III

SEC FILE NUMBER

# FACING PAGE

Information Required Pursuant to Rules 17a-5, 17a-12, and 18a-7 under the Securities Exchange Act of 1934

| FILING FOR THE PERIOD BEGINNING | 01/01/22 | AND ENDING | 12/31/22 |
| --- | --- | --- | --- |
|  | MM/DD/YY |  | MM/DD/YY |

# A. REGISTRANT IDENTIFICATION

| NAME OF FIRM: | Woodmen Financial Services, Inc |
| --- | --- |

TYPE OF REGISTRANT (check all applicable boxes):

☑ Broker-dealer

☐ Security-based swap dealer

☐ Major security-based swap participant

☐ Check here if respondent is also an OTC derivatives dealer

ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.)

1700 Farnam St

| (No. and Street) |  |  |
| --- | --- | --- |
| Omaha | Nebraska | 68102 |
| (City) | (State) | (Zip Code) |

PERSON TO CONTACT WITH REGARD TO THIS FILING

Lindsey Eblen

402-661-8363

leblen@woodmenlife.org

(Name)

(Area Code - Telephone Number)

(Email Address)

# B. ACCOUNTANT IDENTIFICATION

INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing*

Ernst & Young, LLP

| (Name - if individual, state last, first, and middle name) |  |  |  |
| --- | --- | --- | --- |
| 1200 Main St | Kansas City | MO | 64105 |
| (Address) | (City) | (State) | (Zip Code) |

(Date of Registration with PCAOB)(if applicable)

(PCAOB Registration Number, if applicable)

# FOR OFFICIAL USE ONLY

* Claims for exemption from the requirement that the annual reports be covered by the reports of an independent public accountant must be supported by a statement of facts and circumstances relied on as the basis of the exemption. See 17 CFR 240.17a-5(e)(1)(ii), if applicable.

Persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.

# OATH OR AFFIRMATION

I, Tim Buderus, swear (or affirm) that, to the best of my knowledge and belief, the financial report pertaining to the firm of Woodmen Financial Services, Inc, as of 12/31, 2022, is true and correct. I further swear (or affirm) that neither the company nor any partner, officer, director, or equivalent person, as the case may be, has any proprietary interest in any account classified solely as that of a customer.

![img-0.jpeg](img-0.jpeg)

Bunda Van Cleave

GENERAL NOTARY - State of Nebraska

BRENDA VAN CLEAVE

My Comm. Exp. November 5, 2023

Signature:

Title:

President

Notary Public

This filing** contains (check all applicable boxes):

(a) Statement of financial condition.
(b) Notes to consolidated statement of financial condition.
(c) Statement of income (loss) or, if there is other comprehensive income in the period(s) presented, a statement of comprehensive income (as defined in § 210.1-02 of Regulation S-X).
(d) Statement of cash flows.
(e) Statement of changes in stockholders' or partners' or sole proprietor's equity.
(f) Statement of changes in liabilities subordinated to claims of creditors.
(g) Notes to consolidated financial statements.
(h) Computation of net capital under 17 CFR 240.15c3-1 or 17 CFR 240.18a-1, as applicable.
(i) Computation of tangible net worth under 17 CFR 240.18a-2.
(j) Computation for determination of customer reserve requirements pursuant to Exhibit A to 17 CFR 240.15c3-3.
(k) Computation for determination of security-based swap reserve requirements pursuant to Exhibit B to 17 CFR 240.15c3-3 or Exhibit A to 17 CFR 240.18a-4, as applicable.
(1) Computation for Determination of PAB Requirements under Exhibit A to § 240.15c3-3.
(m) Information relating to possession or control requirements for customers under 17 CFR 240.15c3-3.
(n) Information relating to possession or control requirements for security-based swap customers under 17 CFR 240.15c3-3(p)(2) or 17 CFR 240.18a-4, as applicable.
(o) Reconciliations, including appropriate explanations, of the FOCUS Report with computation of net capital or tangible net worth under 17 CFR 240.15c3-1, 17 CFR 240.18a-1, or 17 CFR 240.18a-2, as applicable, and the reserve requirements under 17 CFR 240.15c3-3 or 17 CFR 240.18a-4, as applicable, if material differences exist, or a statement that no material differences exist.
(p) Summary of financial data for subsidiaries not consolidated in the statement of financial condition.
(q) Oath or affirmation in accordance with 17 CFR 240.17a-5, 17 CFR 240.17a-12, or 17 CFR 240.18a-7, as applicable.
(r) Compliance report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable.
(s) Exemption report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable.
(t) Independent public accountant's report based on an examination of the statement of financial condition.
(u) Independent public accountant's report based on an examination of the financial report or financial statements under 17 CFR 240.17a-5, 17 CFR 240.18a-7, or 17 CFR 240.17a-12, as applicable.
(v) Independent public accountant's report based on an examination of certain statements in the compliance report under 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable.
(w) Independent public accountant's report based on a review of the exemption report under 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable.
(x) Supplemental reports on applying agreed-upon procedures, in accordance with 17 CFR 240.15c3-1e or 17 CFR 240.17a-12, as applicable.
(y) Report describing any material inadequacies found to exist or found to have existed since the date of the previous audit, or a statement that no material inadequacies exist, under 17 CFR 240.17a-12(k).
(z) Other:

**To request confidential treatment of certain portions of this filing, see 17 CFR 240.17a-5(e)(3) or 17 CFR 240.18a-7(d)(2), as applicable.

EY
Building a better
working world

Ernst & Young LLP
Corrigan Station
Suite 04-100
1828 Walnut Street
Kansas City, MO 64108

Tel: +1 816 474 5200
ey.com

# Report of Independent Registered Public Accounting Firm

To the Stockholder and the Board of Directors of
Woodmen Financial Services, Inc.

# Opinion on the Financial Statements

We have audited the accompanying statements of financial condition of Woodmen Financial Services, Inc.
(the Company) as of December 31, 2022 and 2021, the related statements of operations, changes in
stockholder's equity, and cash flows for the years then ended, and the related notes (collectively referred to
as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects,
the financial position of the Company at December 31, 2022 and 2021, and the results of its operations and
its cash flows for the years then ended in conformity with U.S. generally accepted accounting principles.

# Basis for Opinion

These financial statements are the responsibility of the Company's management. Our responsibility is to
express an opinion on the Company's financial statements based on our audits. We are a public accounting
firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are
required to be independent with respect to the Company in accordance with the U.S. federal securities laws
and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we
plan and perform the audit to obtain reasonable assurance about whether the financial statements are free
of material misstatement, whether due to error or fraud. Our audits included performing procedures to assess
the risks of material misstatement of the financial statements, whether due to error or fraud, and performing
procedures that respond to those risks. Such procedures included examining, on a test basis, evidence
regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the
accounting principles used and significant estimates made by management, as well as evaluating the overall
presentation of the financial statements. We believe that our audits provide a reasonable basis for our
opinion.

# Supplemental Information

The accompanying information contained in Schedules I, II, and III has been subjected to audit procedures
performed in conjunction with the audits of the Company's financial statements. Such information is the
responsibility of the Company's management. Our audit procedures included determining whether the
information reconciles to the financial statements or the underlying accounting and other records, as
applicable, and performing procedures to test the completeness and accuracy of the information. In forming
our opinion on the information, we evaluated whether such information, including its form and content, is
presented in conformity with Rule 17a-5 under the Securities Exchange Act of 1934. In our opinion, the
information is fairly stated, in all material respects, in relation to the financial statements as a whole.

We have served as the Company's auditor since 2002.

Ernst & Young LLP

March 14, 2023

A member firm of Ernst & Young Global Limited

# Woodmen Financial Services, Inc.

# Statements of Financial Condition

|  | December 31, |  |
| --- | --- | --- |
|  | 2022 | 2021 |
| Assets |  |  |
| Cash and cash equivalents | $777,005 | $996,626 |
| Receivables from brokers, dealers, and others | 500,405 | 529,164 |
| Other receivables | 3,095 | 2,934 |
| Prepaid expenses and other assets | 70,998 | 60,862 |
| Total assets | $1,351,503 | $1,589,586 |
| Liabilities and stockholder's equity |  |  |
| Liabilities: |  |  |
| Commissions payable | $297,254 | $326,975 |
| Due to parent | 46,779 | 6,135 |
| Accounts payable and accrued expenses | 299,434 | 443,068 |
| Total liabilities | 643,467 | 776,178 |
| Stockholder's equity: |  |  |
| Common stock, $1 stated value: |  |  |
| Authorized shares - 50,000 |  |  |
| Issued and outstanding shares - 50,000 | 50,000 | 50,000 |
| Additional paid-in capital | 15,398,875 | 15,398,875 |
| Accumulated deficit | (14,740,839) | (14,635,467) |
| Total stockholder's equity | 708,036 | 813,408 |
| Total liabilities and stockholder's equity | $1,351,503 | $1,589,586 |

See accompanying notes.

2

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM X-17A-5

### ANNUAL AUDITED REPORT

### Filer Information

**Filer CIK:** 0001146202

**Filer CCC:** XXXXXXXX

**Is this a LIVE or TEST filing?:** LIVE

**Would you like a Return Copy?:** No

### Submission Information

**Report Period Begin Date:** 01-01-2022

**Report Period End Date:** 12-31-2022

**Type of Registrant:** Broker-dealer

**Any material weaknesses identified?:** No

### Registrant Identification

**Name of Broker-Dealer:** WOODMEN FINANCIAL SERVICES, INC.

**Business Address:** 1700 FARNAM STREET, OMAHA, NE, 68102

**Contact Person:** Lindsey Eblen

**Contact Phone:** 4026618363

### Independent Public Accountant Identification

**Accountant Name:** Ernst & Young, LLP

**Accountant Address:** 1200 Main St, Kansas City, MO, 64105

**Accountant Type:** Certified Public Accountant

### OATH OR AFFIRMATION

I, **Tim Buderus**, swear (or affirm) that, to the best of my knowledge and belief, the accompanying financial statements and supporting schedules pertaining to the firm of **WOODMEN FINANCIAL SERVICES, INC.**, as of **12-31-2022**, are true and correct.

**Signature:** Tim Buderus

**Title:** President

**Notarized:** Yes