SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities and Exchange Act of 1934

Date of Report (Date of earliest event reported) May 23, 2007

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STANDARD MANAGEMENT CORPORATION

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(Exact Name of Registrant as Specified in its Charter)

Indiana 0-20882 35-1773567

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(State or other jurisdiction (Commission File Number) (IRS Employer

of incorporation) Identification No.)

10689 North Pennsylvania, Indianapolis, Indiana

46280

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(Address of principal executive offices) (Zip Code)

Registrant's telephone number, including area code (317) 574-6200

Not Applicable

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(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2.):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

ITEM 2.02

REULTS OF OPERATIONS AND FINANCIAL CONDITION

On May 23, 2007, the Registrant issued the press release attached as Exhibit 99.1 to this Form 8-K and incorporated by reference herein. This press release announced the company's operating results for the first quarter ended March 31, 2007.

ITEM 7.01. REGULATION FD DISCLOSURE

See "Item 2.02. Results of Operations and Financial Condition" which is incorporated by reference in this Item 7.01.

ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS

(d) The following exhibit is furnished as a part of this Report:

99.1 Press Release dated May 23, 2007

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.



						STANDARD MANAGEMENT CORPORATION



						By: /s/Ronald D. Hunter
						Name: Ronald D. Hunter
						Title: Chairman, President and Chief Executive Officer

Dated:

May 23, 2007

STANDARD MANAGEMENT CORP 8-K