Form 990 for tax year 2022
Filed by LIFE AND HEALTH INSURANCE FOUNDATION FOR EDUCATION.
Totals
- Total revenue
- $2,255,724
- Total expenses
- $3,690,250
- Contributions and grants received
- $1,802,098
- Grants paid
- $0
- Program service revenue
- $456,330
- Investment income
- -$3,988
- Other revenue
- $1,284
- Total assets, end of year
- $2,862,476
- Total liabilities, end of year
- $860,283
- Net assets or fund balances, end of year
- $2,002,193
- Program services expenses (Part IX)
- $0
- Management and general expenses
- $0
- Fundraising expenses
- $0
- Program service expenses (Part III)
- not reported
Program services were 0.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
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.
-
1e · Government grants (contributions)
$347,073
-
1f · All other contributions, gifts and grants
$1,455,025
-
2a · Program service revenue: Member Dues
total $108,768 · related or exempt $108,768
-
2b · Program service revenue: PLATFORM SALES
total $347,562 · related or exempt $347,562
-
3 · Investment income
total $6 · excluded $6
-
4 · Income from investment of tax-exempt bond proceeds
total $0
-
5 · Royalties
total $0
-
6d · Net rental income or loss
total $0
-
7a · Gross sales of assets other than inventory
other assets -$3,994
-
7c · Gain or loss
other assets -$3,994
-
7d · Net gain or loss
total -$3,994 · excluded -$3,994
-
8c · Net income from fundraising events
total $0
-
9c · Net income from gaming
total $0
-
10c · Net income from sales of inventory
total $0
-
11a · Other revenue: miscellaneous income
total $1,284 · related or exempt $1,284
-
11e · Other revenue, total
$1,284
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $0
-
2 · Grants to domestic individuals
total $0
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $0
-
5 · Compensation of officers, directors and key employees
total $867,832
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $793,942
-
8 · Pension plan contributions
total $0
-
9 · Other employee benefits
total $16,242
-
10 · Payroll taxes
total $100,285
-
11a · Fees: management
total $92,250
-
11b · Fees: legal
total $6,565
-
11c · Fees: accounting
total $115,993
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $0
-
12 · Advertising and promotion
total $744,175
-
13 · Office expenses
total $11,504
-
14 · Information technology
total $10,530
-
15 · Royalties
total $0
-
16 · Occupancy
total $43,665
-
17 · Travel
total $128,318
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $52,437
-
20 · Interest
total $14,615
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $56,181
-
23 · Insurance
total $14,734
-
24a · Other expenses: Bad Debt Expense
total $211,216
-
24b · Other expenses: Promotion/outreach
total $120,676
-
24c · Other expenses: kwt time
total $72,053
-
24d · Other expenses: spokesperson
total $66,250
-
24e · All other expenses
total $150,787
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
end of year $0
-
2 · Savings and temporary cash investments
beginning of year $873,460 · end of year $38,919
-
3 · Pledges and grants receivable
beginning of year $1,269,412 · end of year $137,210
-
4 · Accounts receivable
beginning of year $94,662 · end of year $58,875
-
5 · Loans and receivables from officers and key people
end of year $0
-
6 · Loans and receivables from disqualified persons
end of year $0
-
7 · Other notes and loans receivable
end of year $0
-
8 · Inventories for sale or use
end of year $0
-
9 · Prepaid expenses and deferred charges
beginning of year $4,745 · end of year $11,028
-
10a · Land, buildings and equipment: cost or other basis
$1,147,795
-
10b · Land, buildings and equipment: accumulated depreciation
$961,329
-
10c · Land, buildings and equipment, net
beginning of year $194,441 · end of year $186,466
-
11 · Investments: publicly traded securities
end of year $0
-
12 · Investments: other securities
end of year $0
-
13 · Investments: program-related
end of year $0
-
14 · Intangible assets
end of year $0
-
15 · Other assets
beginning of year $2,493,040 · end of year $2,429,978
-
17 · Accounts payable and accrued expenses
beginning of year $239,596 · end of year $502,693
-
19 · Deferred revenue
beginning of year $121,265 · end of year $107,590
-
24 · Unsecured notes and loans payable
beginning of year $458,796 · end of year $250,000
-
25 · Other liabilities
beginning of year $12,971
-
27 · Net assets without donor restrictions
beginning of year $3,345,624 · end of year $1,961,770
-
28 · Net assets with donor restrictions
beginning of year $751,508 · end of year $40,423
Mission and programs · 2022
Mission
life Happens is a nonprofit organization dedicted to helping consumers take personal financial responsibility through the ownership of life insurance and related products. The organization does not endors any product, company or insurance advisor. Since its inception in 1994, Life Happens has provided the highest qualtiy, independent and objective information for people seeking help with their insurance buying decisions. The organization is on the leading edge of technology innovation to support the insurance industry by providing marketing and social-media tools and resources through its proprietary life happens pro digital platform. In addtion, it convenes the industry each September for life insurance awareness month, which it created in 2004. Life Happens is supported by more than 140 of the nation's leading insurance company and financial services organizations. to learn more visit www.lifehappens.org.
Activities or mission (Part I)
to educate the public about insurance products and the value of seeking professional advice.
-
Media and public relations - the foundation and its media relations team worked on keeping the public informed on the value of insurance. its usage of awareness months and spokespeople has greatly increased the coverage of the foundation's programs and educational peices receive.
-
The foundation's advertising outreach is an effort to educate consumers and energize the field. we advertise on consumer websites with digital advertisiements featuring stories from teh awareness month campaign, real life stroes or life lessons programs. these ads appeared on the following websites: hulu, youtubew, aol, and many other online sites and media platforms.
-
digital platform - the foundation's newly launched platform which provides all of the foundation's resources in a digital format to be used by insurance companies and agents in educating consumers about life insurance and its related products.
As filed on the 2022 return.
Listed in Part VII
-
Faisa Stafford
President
- Total calculated
- $325,385
- From this org
- $289,599
- From related orgs
- $0
- Other
- $35,786
- Hours/week
- 27.5 + 10 related
Schedule J breakdown matched by us
- Base
- $289,599
- Bonus
- not reported
- Other
- not reported
- Deferred
- $18,104
- Nontaxable benefits
- $17,682
- Filer's total
- $325,385
-
Margaret Leyes
CCO
- Total calculated
- $207,790
- From this org
- $179,979
- From related orgs
- $0
- Other
- $27,811
- Hours/week
- 35 + 10 related
Schedule J breakdown matched by us
- Base
- $179,979
- Bonus
- not reported
- Other
- not reported
- Deferred
- $8,999
- Nontaxable benefits
- $18,812
- Filer's total
- $207,790
-
Joshua Dunham
CRO
- Total calculated
- $176,537
- From this org
- $167,144
- From related orgs
- $0
- Other
- $9,393
- Hours/week
- 35 + 10 related
Schedule J breakdown matched by us
- Base
- $167,144
- Bonus
- not reported
- Other
- not reported
- Deferred
- $8,357
- Nontaxable benefits
- $1,036
- Filer's total
- $176,537
-
Richard Pratte
Head of Product
- Total calculated
- $158,120
- From this org
- $131,814
- From related orgs
- $0
- Other
- $26,306
- Hours/week
- 35 + 10 related
Schedule J breakdown matched by us
- Base
- $131,814
- Bonus
- not reported
- Other
- not reported
- Deferred
- $6,591
- Nontaxable benefits
- $19,715
- Filer's total
- $158,120
-
Jeremy Vaught
Dir of Engineering
- Total calculated
- $125,295
- From this org
- $111,179
- From related orgs
- $0
- Other
- $14,116
- Hours/week
- 35 + 10 related
-
Barb Pietrangelo
Vice Chair
- Total calculated
- $0
- Hours/week
- 2.5 + 0.5 related
-
Kim Harding CFP CLU CLTC
Past Chair
- Total calculated
- $0
- Hours/week
- 2.5 + 0.5 related
-
Mark Hanna CLU ChFC AIF
Director
- Total calculated
- $0
- Hours/week
- 2.5 + 0.5 related
-
Eric Miller
Chair
- Total calculated
- $0
- Hours/week
- 2.5 + 0.5 related
-
Michael Weintraub
Treasurer
- Total calculated
- $0
- Hours/week
- 2.5 + 0.5 related
-
John Flatley
Interim CEO
- Total calculated
- $0
- Hours/week
- 27.5
-
Kari Axberg
Director
- Total calculated
- $0
- Hours/week
- 0.5 + 0.5 related
-
R Jan Pinney
Director
- Total calculated
- $0
- Hours/week
- 0.5 + 0.5 related
-
Kevin Brayton
Director
- Total calculated
- $0
- Hours/week
- 0.5 + 0.5 related
-
David Rosuck
Director
- Total calculated
- $0
- Hours/week
- 0.5 + 0.5 related
-
Brent M Bynum
Director
- Total calculated
- $0
- Hours/week
- 0.5 + 0.5 related
-
Ted Rusinoff
Director
- Total calculated
- $0
- Hours/week
- 0.5 + 0.5 related
-
Brian Schwingler
Director
- Total calculated
- $0
- Hours/week
- 0.5 + 0.5 related
-
Ben Laramee
Director
- Total calculated
- $0
- Hours/week
- 0.5 + 0.5 related
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
- 3 · Compensation committee
- 3 · Form 990 of other organizations
- 3 · Written employment contract
- 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) · educational · DC · controlled entity
Directly controlled by life and health insurance Foundation
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 14 November 2023
- IRS schema version
- 2022v5.0
- Source object
- 202333189349302253
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