Totals
- Total revenue
- $16,709,489
- Total expenses
- $18,807,668
- Contributions and grants received
- $5,510,208
- Grants paid
- $0
- Program service revenue
- $11,248,761
- Investment income
- -$52,015
- Other revenue
- $2,535
- Total assets, end of year
- $7,722,584
- Total liabilities, end of year
- $7,083,629
- Net assets or fund balances, end of year
- $638,955
- Program services expenses (Part IX)
- not reported
- Management and general expenses
- not reported
- Fundraising expenses
- not reported
- Program service expenses (Part III)
- not reported
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1d · Related organizations
$328,701
-
1f · All other contributions, gifts and grants
$5,181,507
-
2a · Program service revenue: MEMBERSHIP DUES
total $5,159,400 · related or exempt $5,159,400
-
2b · Program service revenue: SPONSORSHIPS
total $3,190,241 · related or exempt $3,190,241
-
2c · Program service revenue: CONFERENCE REGISTRATIONS
total $1,591,821 · related or exempt $1,591,821
-
2d · Program service revenue: AWARDS REVENUE
total $775,260 · related or exempt $775,260
-
2e · Program service revenue: PRODUCT SALES & LICENSING
total $281,210 · related or exempt $281,210
-
2f · All other program service revenue
total $250,829 · related or exempt $138,317 · unrelated business $112,512
-
3 · Investment income
total $62,684 · excluded $62,684
-
7a · Gross sales of assets other than inventory
securities $1,048,606
-
7b · Less cost or other basis and sales expenses
securities $1,163,305
-
7c · Gain or loss
securities -$114,699
-
7d · Net gain or loss
total -$114,699 · excluded -$114,699
-
11a · Other revenue: OTHER INCOME
total $2,535 · excluded $2,535
-
11e · Other revenue, total
$2,535
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $2,486,090
-
7 · Other salaries and wages
total $4,476,624
-
8 · Pension plan contributions
total $143,314
-
9 · Other employee benefits
total $298,261
-
10 · Payroll taxes
total $373,689
-
11b · Fees: legal
total $134,693
-
11c · Fees: accounting
total $373,048
-
11f · Fees: investment management
total $19,993
-
11g · Fees: other
total $3,157,081
-
12 · Advertising and promotion
total $247,944
-
13 · Office expenses
total $444,782
-
14 · Information technology
total $758,379
-
15 · Royalties
total $926,732
-
16 · Occupancy
total $569,800
-
17 · Travel
total $555,745
-
19 · Conferences, conventions and meetings
total $3,444,469
-
20 · Interest
total $18,281
-
22 · Depreciation, depletion and amortization
total $43,134
-
23 · Insurance
total $63,523
-
24a · Other expenses: BAD DEBT EXPENSE
total $145,623
-
24b · Other expenses: DUES & SUBSCRIPTIONS
total $99,331
-
24c · Other expenses: OTHER EXPENSES
total $25,212
-
24d · Other expenses: TAXES & FEES
total $1,345
-
24e · All other expenses
total $575
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $1,344,449 · end of year $1,961,258
-
2 · Savings and temporary cash investments
beginning of year $0 · end of year $730,023
-
4 · Accounts receivable
beginning of year $827,967 · end of year $584,464
-
9 · Prepaid expenses and deferred charges
beginning of year $802,298 · end of year $908,319
-
10a · Land, buildings and equipment: cost or other basis
$336,294
-
10b · Land, buildings and equipment: accumulated depreciation
$271,302
-
10c · Land, buildings and equipment, net
beginning of year $97,198 · end of year $64,992
-
11 · Investments: publicly traded securities
beginning of year $3,458,635 · end of year $2,474,164
-
15 · Other assets
beginning of year $1,502,985 · end of year $999,364
-
17 · Accounts payable and accrued expenses
beginning of year $1,441,305 · end of year $2,615,237
-
19 · Deferred revenue
beginning of year $2,517,487 · end of year $2,786,610
-
23 · Secured mortgages and notes payable
beginning of year $0 · end of year $1,000,000
-
25 · Other liabilities
beginning of year $919,769 · end of year $681,782
-
27 · Net assets without donor restrictions
beginning of year $2,621,805 · end of year $238,376
-
28 · Net assets with donor restrictions
beginning of year $533,166 · end of year $400,579
Mission and programs · 2022
Mission
THE MISSION OF FINSECA IS TO ADVOCATE FOR THE FINANCIAL SECURITY PROFESSION, DEVELOP AND GROW ITS LEADERS, AND PROMOTE THE NOBLE AND NECESSARY WORK OF ITS MEMBERS TO PROVIDE FINANCIAL AND RETIREMENT SECURITY FOR THE INDIVIDUALS, FAMILIES, AND BUSINESSES SERVED.
-
MEMBER LEARNING AND EXPERIENCE: FINSECA PROVIDES MEETINGS TO KEEP INSURANCE PROFESSIONALS ON THE LEADING EDGE OF TRENDS AND SKILLS BY PROVIDING THEM WITH AN EDUCATION AND NETWORKING FOR PARTICIPANTS. FINSECA PROVIDES A FORUM FOR MEMBERS TO EXCHANGE INFORMATION AND AN OPPORTUNITY FOR MEMBERS TO PARTICIPATE IN PROFESSIONAL DEVELOPMENT ACTIVITIES. FINSECA PROVIDES NUMEROUS PRODUCTS AND PUBLICATIONS THAT ARE CREATED SPECIFICALLY TO FURTHER THE PROFESSIONAL DEVELOPMENT OF FIELD LEADERS IN INSURANCE AND FINANCIAL SERVICES. THESE PRODUCTS INCLUDE ONLINE ASSESSMENT TOOLS, AUDIOVISUAL PRODUCTS, AND A BOOK SERIES THAT PRESENT A BROAD COLLECTION OF PROVEN PRACTICES FROM VETERAN INDUSTRY LEADERS. FINSECA PROVIDES MEMBERS WITH PRACTICAL, APPLICATION-ORIENTED ARTICLES ON TOPICS SUCH AS RECRUITING, SELECTION, LEADERSHIP AND RETENTION. FINSECA PUBLISHES A QUARTERLY MAGAZINE, "FINSECA FOCUS" THAT PROVIDES INSIGHTS AND THOUGHT LEADERSHIP TO HELP THE FINANCIAL SECURITY PROFESSIONALS UNDERSTAND THE DYNAMICS THAT DRIVE CONSUMER CHOICES AND THE PROFESSION.
-
ADVOCACY: THE MISSION OF FINSECA EFFORTS IN THE LEGISLATIVE AND REGULATORY AFFAIRS ARENA IS TO PROMOTE AND ADVOCATE FOR OUR MEMBERS, THEIR CLIENTS, AND THE BROADER INSURANCE COMMUNITY ON PUBLIC POLICY ISSUES ASSOCIATED WITH THE USE OF LIFE INSURANCE TO PROVIDE LONG-TERM SAVINGS, PROTECTION, AND FINANCIAL AND RETIREMENT SECURITY, IN THE INDIVIDUAL, FAMILY AND BUSINESS CONTEXT. MEMBERSHIP-RUN ISSUES COMMITTEES IN EACH OF THESE AREAS WORK IN CONJUNCTION WITH FINSECA STAFF AND COUNSEL TO MONITOR PUBLIC POLICY DEVELOPMENTS AND RECOMMEND POSITIONS AND ACTIONS UP THROUGH GOVERNMENT AFFAIRS COMMITTEE AND TO THE FINSECA BOARD THAT ARE DESIGNED TO ACHIEVE THE MOST FAVORABLE LEGISLATIVE AND REGULATORY RESULTS. EXAMPLES OF SPECIFIC LEGISLATIVE, REGULATORY AND PUBLIC AFFAIRS ISSUES UNDERTAKEN BY FINSECA INCLUDE MATTERS AFFECTING ESTATE PLANNING, DEFERRED COMPENSATION, BUSINESS USES OF LIFE INSURANCE, QUALIFIED PLANS, TAX TREATMENT AND REGULATION OF LIFE INSURANCE PRODUCTS AND PRODUCERS AND THE UNDERSTANDING OF LIFE INSURANCE BY CONGRESS AND THE GENERAL PUBLIC.
-
COMMUNICATIONS AND MARKETING: FINSECA'S COMMUNICATION EFFORTS HELP RAISE INDUSTRY AWARENESS OF THE ORGANIZATION'S EFFORTS.
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Edward G DeutschlanderEDWARD G DEUTSCHLANDER
CHAIR
- Total calculated
- $0
- Hours/week
- 3 + 5 related
-
Jeri TurleyJERI TURLEY
IMMEDIATE PAST CHAIR - AS OF 06/22
- Total calculated
- $0
- Hours/week
- 3
-
Kelly KidwellKELLY KIDWELL
IMMEDIATE PAST CHAIR - UNTIL 06/22
- Total calculated
- $0
- Hours/week
- 3 + 2 related
-
Rick Van BenschotenRICK VAN BENSCHOTEN
CHAIR-ELECT
- Total calculated
- $0
- Hours/week
- 3
-
Mike JamesMIKE JAMES
DIRECTOR - UNTIL 06/22, SECRETARY
- Total calculated
- $0
- Hours/week
- 3
-
Bob BaccigalupiBOB BACCIGALUPI
TREASURER
- Total calculated
- $0
- Hours/week
- 3
-
Jim Hebets DirectorJIM HEBETS DIRECTOR
UNTIL 06/22, VICE TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
Kristi AcreeKRISTI ACREE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Kristi BarensKRISTI BARENS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Rob CarneyROB CARNEY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Luis ChiappyLUIS CHIAPPY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Christie CoradoCHRISTIE CORADO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Vince D'AddonaVINCE D'ADDONA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Paul DoddPAUL DODD
DIRECTOR - UNTIL 06/22
- Total calculated
- $0
- Hours/week
- 1
-
Bob EichlerBOB EICHLER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
David FritzDAVID FRITZ
DIRECTOR - UNTIL 06/22
- Total calculated
- $0
- Hours/week
- 1
-
Joe GergelyJOE GERGELY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
John GilbertJOHN GILBERT
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Jason GroverJASON GROVER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Larry HermanLARRY HERMAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Matthew HodsonMATTHEW HODSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Michelle HubertMICHELLE HUBERT
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Bellaria JimenezBELLARIA JIMENEZ
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
James JoyceJAMES JOYCE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Jason LeaJASON LEA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Don LippencottDON LIPPENCOTT
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Timothy MaguireTIMOTHY MAGUIRE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Shaun McDuffeeSHAUN MCDUFFEE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Eric Naison-PhillipsERIC NAISON-PHILLIPS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Stephanie RivasSTEPHANIE RIVAS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 2 related
-
Amy SaloAMY SALO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Philip SarneckiPHILIP SARNECKI
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Jr TolandJR TOLAND
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Chip Van DusenCHIP VAN DUSEN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Marc CadinMARC CADIN
CEO
- Total calculated
- $960,862
- From this org
- $922,566
- From related orgs
- $0
- Other
- $38,296
- Hours/week
- 20 + 20 related
Schedule J breakdown matched by us
- Base
- $632,566
- Bonus
- $290,000
- Other
- $0
- Deferred
- $15,250
- Nontaxable benefits
- $23,046
- Filer's total
- $960,862
-
Bonnie GodsmanBONNIE GODSMAN
PRESIDENT
- Total calculated
- $685,648
- From this org
- $665,237
- From related orgs
- $0
- Other
- $20,411
- Hours/week
- 30 + 10 related
Schedule J breakdown matched by us
- Base
- $513,237
- Bonus
- $152,000
- Other
- $0
- Deferred
- $6,625
- Nontaxable benefits
- $13,786
- Filer's total
- $685,648
-
Suzanne JacobsSUZANNE JACOBS
CHIEF OPERATING OFFICER
- Total calculated
- $435,411
- From this org
- $399,889
- From related orgs
- $0
- Other
- $35,522
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $295,389
- Bonus
- $104,500
- Other
- $0
- Deferred
- $13,507
- Nontaxable benefits
- $22,015
- Filer's total
- $435,411
-
Armstrong RobinsonARMSTRONG ROBINSON
CHIEF ADVOCACY OFFICER
- Total calculated
- $404,169
- From this org
- $372,702
- From related orgs
- $0
- Other
- $31,467
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $317,952
- Bonus
- $54,750
- Other
- $0
- Deferred
- $15,250
- Nontaxable benefits
- $16,217
- Filer's total
- $404,169
-
Daniel LabertDANIEL LABERT
PRES BROKERAGE & EVP MEM EXP
- Total calculated
- $383,893
- From this org
- $100,795
- From related orgs
- $267,445
- Other
- $15,653
- Hours/week
- 7.5 + 32.5 related
Schedule J breakdown matched by us
- Base
- $58,270 + $167,445 related
- Bonus
- $42,525 + $100,000 related
- Other
- $0
- Deferred
- $2,188 + $8,192 related
- Nontaxable benefits
- $5,273
- Filer's total
- $108,256 + $275,637 related
-
David StertzerDAVID STERTZER
SENIOR EXECUTIVE ADVISOR
- Total calculated
- $354,167
- From this org
- $354,167
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $354,167
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $354,167
-
Marguerite SeidelMARGUERITE SEIDEL
SVP, PUBLIC AFFAIRS & MARKETING
- Total calculated
- $289,992
- From this org
- $267,991
- From related orgs
- $0
- Other
- $22,001
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $249,741
- Bonus
- $18,250
- Other
- $0
- Deferred
- $6,958
- Nontaxable benefits
- $15,043
- Filer's total
- $289,992
-
Judith DurhamJUDITH DURHAM
CHIEF ADMINISTRATIVE OFFICER
- Total calculated
- $253,856
- From this org
- $235,613
- From related orgs
- $0
- Other
- $18,243
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $212,813
- Bonus
- $22,800
- Other
- $0
- Deferred
- $4,283
- Nontaxable benefits
- $13,960
- Filer's total
- $253,856
-
Josh CaronJOSH CARON
VP, LEGISLATIVE AFFAIRS
- Total calculated
- $207,187
- From this org
- $194,023
- From related orgs
- $0
- Other
- $13,164
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $175,773
- Bonus
- $18,250
- Other
- $0
- Deferred
- $9,997
- Nontaxable benefits
- $3,167
- Filer's total
- $207,187
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 1a · Health or social club dues or initiation fees
- 1b · Written policy on the line-1a expenses
- 2 · Substantiation required before reimbursing expenses
- 3 · Compensation committee
- 3 · Compensation survey or study
- 3 · Approval by the board or compensation committee
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
No itemized grants to organizations on this return.
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
-
501(C)(3) · PROVIDE RESEARCH & EDUCATION MATERIALS TO THOSE IN LIFE INSURANCE SERVICES. · DC
Directly controlled by FINSECA
-
NATIONAL ASSOCIATION OF INDEPENDENT LIFE BROKERAGE AGENCIES
501(C)(6) · PROMOTE BUSINESS INTEREST OF INDEPENDENT LIFE BROKERAGE AGENCIES · IL
Directly controlled by FINSECA
-
501(C)(3) · PROVIDE GRANTS, FUNDS TO ORGANIZATIONS · VA
Directly controlled by NAILBA
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 15 November 2023
- IRS schema version
- 2022v5.0
- Source object
- 202303199349331235
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
The source document this was parsed from is served over the API, which is where bulk and document access live.