Overview
- IndustryLife Insurance1
- HeadquartersTopeka, Kansas1
- Incorporated inKS2
- Business address4123 Sw Gage Center Drive, Suite 240, Topeka, Ks 666042
- Filer categoryNon-accelerated filer, Smaller reporting company2
- Legal formCorporation
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Overview and History - US Alliance Corporation ("USAC") was formed as a Kansas corporation on April 24, 2009 to raise capital to form a new Kansas-based life insurance company. Our offices are located at 1303 SW First American Place, Suite 200, Topeka, Kansas 66604. Our telephone number is 785-228-0200 and our website address is www.usalliancecorporation.com .4 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Other costs99¢$24.3M
- Income tax1¢$318.7K
Out of $24.6M in revenue.5 The company lost money this year.
Where each dollar of operating cash went, fiscal 2025
- Capital spending0¢$11.2K
- Kept or used elsewhere100¢$8.9M
Out of $8.9M of cash from operations.5
Financial statements
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue | $12.0M6 | $16.3M7 | $17.6M8 | $16.0M9 | $20.9M10 | $23.8M5 | $24.6M5 |
| Income before tax | -$346.2K8 | -$3.3M9 | $625.7K10 | $620.2K5 | -$1.1M5 | ||
| Income tax | -$431.2K6 | -$140.3K7 | -$680.5K8 | -$149.0K9 | -$852.3K10 | $79.9K5 | -$318.7K5 |
| Net income | $599.2K6 | $439.4K7 | $334.4K8 | -$3.2M9 | $1.5M10 | $540.4K5 | -$786.8K5 |
| Earnings per share | $0.048 | -$0.419 | $0.1910 | $0.075 | -$0.105 | ||
| Shares (weighted, basic) | 7.7M shares8 | 7.7M shares9 | 7.7M shares10 | 7.7M shares5 | 7.8M shares5 |
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Cash | $6.7M6 | $4.3M7 | $8.0M8 | $4.1M9 | $9.0M10 | $6.9M5 | $18.0M5 |
| Property, plant and equipment | $92.8K8 | $132.5K9 | $138.3K10 | $136.4K5 | $119.1K5 | ||
| Goodwill | $277.5K8 | $277.5K9 | $277.5K10 | $277.5K5 | $277.5K5 | ||
| Total assets | $54.9M6 | $115.4M7 | $121.5M8 | $118.4M9 | $126.1M10 | $131.2M5 | $148.7M5 |
| Total liabilities | $38.1M6 | $97.0M7 | $103.9M8 | $110.4M9 | $115.8M10 | $117.2M5 | $135.7M5 |
| Retained earnings | -$8.7M8 | -$11.8M9 | -$10.5M10 | -$10.0M5 | -$10.7M5 | ||
| Shareholders’ equity | $16.9M7 | $18.4M8 | $17.6M9 | $8.1M10 | $10.3M10 | $14.0M5 | $13.0M5 |
| Shares outstanding | 7.7M shares6 | 7.7M shares7 | 7.7M shares8 | 7.7M shares9 | 7.7M shares10 | 7.7M shares5 | 7.8M shares5 |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Cash from operations | $2.3M6 | $2.1M7 | $3.4M8 | $4.8M9 | $7.4M10 | $9.2M5 | $8.9M5 |
| Capital spending | $28.4K7 | $78.0K8 | $56.4K9 | $379.8K10 | $43.7K5 | $11.2K5 | |
| Free cash flow | $2.1M | $3.3M | $4.7M | $7.1M | $9.1M | $8.9M | |
| Cash from investing | -$1.7M8 | -$9.8M9 | $1.4M10 | -$9.5M5 | -$5.6M5 | ||
| Cash from financing | $1.9M8 | $1.2M9 | -$3.9M10 | -$1.8M5 | $7.8M5 |
Corporate structure
US Alliance Corp sits at the top of its group. 5 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.
- US Alliance Corp Topeka, Kansas
- US Alliance Investment Corporation Subsidiary · Kansas, United States
- US Alliance Life and Security Company Subsidiary · North Dakota, United States
- US Alliance Life and Security Company - Montana Subsidiary · Montana, United States
- US Alliance Marketing Corporation Subsidiary · Kansas, United States
Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What US Alliance Corp reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Accumulated depreciation | $107.5K5 Dec 31, 2025 | $79.0K5 Dec 31, 2024 | +36.1% |
| Property and equipment, net | $119.1K5 Dec 31, 2025 | $136.4K5 Dec 31, 2024 | −12.7% |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | $18.0M5 Dec 31, 2025 | $6.9M5 Dec 31, 2024 | +161.3% |
| Debt securities available for sale | $86.5M5 Dec 31, 2025 | $79.6M5 Dec 31, 2024 | +8.7% |
| Equity securities at fair value | $3.5M5 Dec 31, 2025 | $3.9M5 Dec 31, 2024 | −8.6% |
Intangibles and goodwill
Properties, in its own words
USAC and its subsidiaries share offices located at 1303 SW First American Place, Suite 200, Topeka, Kansas 66604 in a building purchased by DCLIC on November 15, 2020.
Item 2 of the 10-K filed Mar 17, 2026.4
Leadership
Who has led US Alliance Corp, and when. Pick a name to see everywhere that person has worked.
Chief executive
President
- Chief executive officerJack H. Brier Jan 15, 2021 to Dec 18, 202413
- ChairJack H. Brier Jan 15, 2021 to Dec 18, 202413
- PresidentJack H. Brier Jul 14, 2016 to Dec 18, 202414
Board members and other officers (4)
- Board memberJack H. Brier Jul 14, 2016 to Jul 14, 201614
- Board memberKurt Scott Jul 14, 2016 to Jul 14, 201615
- Board memberRochelle Chronister Jul 14, 2016 to Jul 14, 201616
- Board memberJames Concannon Jul 18, 2016 to Jan 15, 202117
Named in SEC Form D filings
People the company listed in its private-offering notices.
Subsidiaries and ownership
Subsidiaries (Exhibit 21)
- US Alliance Investment Corporation Kansas3
- US Alliance Life and Security Company North Dakota3
- US Alliance Life and Security Company - Montana Montana3
- US Alliance Marketing Corporation Kansas3
The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.
Former names
- U. S. Alliance CorpMay 19, 2009 to May 29, 20092
Timeline
- Aug 26, 20268-K Executive or director change19
- Jun 2, 20268-K Executive or director change20
- Jun 1, 20268-K Shareholder vote21
- Jun 3, 20258-K Shareholder vote22
- Dec 27, 20248-K Executive or director change23
- Dec 18, 20248-K Executive or director change24
- Dec 18, 20248-K Entered a material agreement; Unregistered sale of shares; Executive or director change25
- Dec 17, 20248-K Executive or director change26
- Jun 4, 20248-K Shareholder vote27
- Apr 12, 20248-K Executive or director change28
- Dec 20, 20238-K Change of auditor29
- Oct 3, 20238-K Change of auditor30
- Jan 15, 2021New chief executive Jack H. Brier becomes CEO13
Filings
49 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 19 major events, 3 insider forms, 3 private raises, 4 other. The latest 20:
- Aug 26, 20268-K EDGAR
- Aug 14, 202610-Q EDGAR
- Jun 2, 20268-K EDGAR
- Jun 1, 20268-K EDGAR
- May 15, 202610-Q EDGAR
- Apr 21, 2026DEF 14A EDGAR
- Mar 17, 202610-K EDGAR
- Nov 14, 202510-Q EDGAR
- Aug 15, 202510-Q EDGAR
- Jun 3, 20258-K EDGAR
- May 15, 202510-Q EDGAR
- Mar 18, 202510-K EDGAR
- Dec 27, 20248-K EDGAR
- Dec 18, 20248-K EDGAR
- Dec 18, 20244 EDGAR
- Dec 18, 20244 EDGAR
- Dec 18, 20248-K EDGAR
- Dec 17, 20248-K EDGAR
- Nov 14, 202410-Q EDGAR
- Aug 14, 202410-Q EDGAR
The 49 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
3 open-market trades by officers, directors and large owners since October 2021: 3 buys and 0 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Dec 17, 2024 | Brier Jack H.Chairman, President, and CEO | Buy | 21,000 | $1.00 | $21.0K | Form 4 |
| Dec 17, 2024 | BROWN JEFFREYVice President | Buy | 6,000 | $1.00 | $6.0K | Form 4 |
| Aug 7, 2023 | Brier Jack H.Chairman, President, and CEO | Buy | 100,000 | $1.10 | $110.0K | Form 4 |
From Forms 4 filed with the SEC.
Executive pay
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
| Year | Executive | Age | Salary | Total pay |
|---|---|---|---|---|
| 2025 | Jack H. Brier | 79 | $300.0K | $382.6K31 |
| 2025 | Jeffrey Brown | $240.0K | $321.8K31 | |
| 2024 | Vice PresidentChief Operating Officer, USALSC President, USALSC – Montana | $240.0K | $318.1K31 | |
| 2024 | President and Chief Executive Officer | $289.3K31 |
Money raised
Private offerings the company reported to the SEC on Form D.
- Jan 9, 2018Raised $1.5 million in a private offering of equity Form D: $10.5 million offered in all Form D
SEC filer profile
How US Alliance Corp is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARUS Alliance Corp1
- CIK0001463913
- Employer ID (EIN)26-48241424
- Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company4
- Incorporated inKansas4
- Fiscal year endsDecember 311
- Industry code (SIC)6311 Life Insurance1
- SEC reviewing officeOffice of Finance, Division of Corporation Finance1
- Business address4123 Sw Gage Center Drive, Suite 240, Topeka, KS 666041
- Phone816-460-58071
- Shares outstanding7,788,922 as of Aug 1, 202612
- Public float$0 as of Jun 30, 20255
- AuditorCrowe LLP, Fort Lauderdale, Florida PCAOB ID 173; no auditor attestation of internal control over financial reporting4
- On EDGAR sinceMay 19, 20091
- Filings120 in all: 10-Q (31), 8-K (31), 10-K (10), DEF 14A (9), D/A (8), 3 (6), 4 (6), D (3)1
All 21 form types
425 (2), S-4/A (2), UPLOAD (2), 10-12G (1), 10-12G/A (1), 10-K/A (1), 10-Q/A (1), 424B3 (1), CORRESP (1), DEFR14A (1), EFFECT (1), S-4 (1), SC 13G (1)
- Latest filingsAnnual report (10-K) Mar 17, 2026
Quarterly report (10-Q) Aug 14, 2026
Proxy statement (DEF 14A) Apr 21, 2026
Latest 8-K (8-K) Aug 26, 2026
Risk factors and legal proceedings
The risks US Alliance Corp names in Item 1A of its 10-K filed Mar 17, 2026: 1 risk under these headings, as written.4
- Risks Associated with an Investment in USAC Stock
- Risks Associated with Companies in the Life Insurance Industry, including USAC and its subsidiaries
Legal proceedings
Neither the Company nor any of its principals is presently engaged in any material pending litigation that might adversely impact its net assets.
The opening of Item 3, Legal Proceedings.4
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1
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- 3
- 4
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- 6
- 7
- 8
- 9
- 10
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- 12
- 13
- 14SEC EDGARJack H. Brier, President
- 15SEC EDGARKurt Scott, Board member
- 16SEC EDGARRochelle Chronister, Board member
- 17SEC EDGARJames Concannon, Board member
- 18
- 19SEC EDGARExecutive or director change
- 20SEC EDGARExecutive or director change
- 21SEC EDGARShareholder vote
- 22SEC EDGARShareholder vote
- 23SEC EDGARExecutive or director change
- 24SEC EDGARExecutive or director change
- 25
- 26SEC EDGARExecutive or director change
- 27SEC EDGARShareholder vote
- 28SEC EDGARExecutive or director change
- 29SEC EDGARChange of auditor
- 30SEC EDGARChange of auditor
- 31