2024-11-15T18:43:29-06:00 2023-12-31 881478669 CBIZ ADVISORS LLC 1899 L STREET NW 850 WASHINGTON DC 20036 990 2023-01-01 852061667 FINSECA FINS 7036419400 600 13TH STREET NW 550 WASHINGTON DC 20005 MARC CADIN CHIEF EXECUTIVE OFFICER 7036419400 2024-11-15 1 0 AARON M FOX P01365820 2022274000 2023 2024-10-15 13:58:12Z MARC CADIN 600 13TH STREET NW 550 WASHINGTON DC 20005 19096202 0 X WWW.FINSECA.ORG X 2020 DC 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. 33 33 69 35 14000 0 5510208 4678833 11248761 13291293 -52015 779600 2535 122591 16709489 18872317 0 0 0 0 7777978 8590795 0 0 0 11029690 11737293 18807668 20328088 -2098179 -1455771 7722584 6567681 7083629 8193155 638955 -1625474 X 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. 0 0 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. 0 1 0 1 0 0 0 0 0 1 0 0 1 1 0 0 1 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 48 0 1 69 1 1 1 0 0 0 1 1 0 0 0 X 33 33 0 0 1 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 0 0 X JUDITH DURHAM 7036419400 600 13TH STREET NW 550 WASHINGTON DC 20005 RICK VAN BENSCHOTEN CHAIR - AS OF 06/23 3.00 0.00 X X 0 0 0 MIKE JAMES CHAIR-ELECT - AS OF 06/23 3.00 0.00 X X 0 0 0 CHIP VAN DUSEN SECRETARY - AS OF 06/23 3.00 0.00 X X 0 0 0 JIM HEBETS TREASURER - AS OF 06/23 3.00 0.00 X X 0 0 0 BOB BACCIGALUPLI TREASURER - UNTIL 05/23 3.00 0.00 X X 0 0 0 EDWARD G DEUTSCHLANDER IMMED. PAST CHAIR - AS OF 06/23 3.00 0.00 X X 0 0 0 JERI TURLEY IMMED. PAST CHAIR - UNTIL 05/23 3.00 0.00 X X 0 0 0 KRISTI ACREE DIRECTOR 1.00 0.00 X 0 0 0 LORRIE BALDEVIA DIRECTOR 1.00 0.00 X 0 0 0 KRISTI BARENS DIRECTOR 1.00 0.00 X 0 0 0 ROB CARNEY DIRECTOR 1.00 0.00 X 0 0 0 LUIS CHIAPPY DIRECTOR 1.00 0.00 X 0 0 0 CHRISTIE CORADO DIRECTOR 1.00 0.00 X 0 0 0 VINCE D'ADDONA DIRECTOR 1.00 0.00 X 0 0 0 BOB EICHLER DIRECTOR 1.00 0.00 X 0 0 0 JOE GERGELY DIRECTOR 1.00 0.00 X 0 0 0 JOHN GILBERT DIRECTOR 1.00 3.00 X 0 0 0 JASON GROVER DIRECTOR 1.00 2.00 X 0 0 0 LARRY HERMAN DIRECTOR 1.00 0.00 X 0 0 0 MATTHEW HODSON DIRECTOR 1.00 0.00 X 0 0 0 MICHELLE HUBERT DIRECTOR 1.00 0.00 X 0 0 0 AMY JAMROG DIRECTOR 1.00 0.00 X 0 0 0 BELLARIA JIMENEZ DIRECTOR 1.00 0.00 X 0 0 0 JAMES JOYCE DIRECTOR 1.00 0.00 X 0 0 0 TIM KLUSAS DIRECTOR 1.00 0.00 X 0 0 0 JASON LEA DIRECTOR 1.00 2.00 X 0 0 0 DON LIPPENCOTT DIRECTOR 1.00 0.00 X 0 0 0 TIMOTHY MAGUIRE DIRECTOR 1.00 0.00 X 0 0 0 SHAUN MCDUFFEE DIRECTOR 1.00 0.00 X 0 0 0 BRANDY MICKENS DIRECTOR 1.00 0.00 X 0 0 0 ERIC NAISON-PHILLIPS DIRECTOR 1.00 0.00 X 0 0 0 STEPHANIE RIVAS DIRECTOR 1.00 0.00 X 0 0 0 AMY SALO DIRECTOR 1.00 0.00 X 0 0 0 PHILIP SARNECKI DIRECTOR 1.00 0.00 X 0 0 0 JR TOLAND DIRECTOR 1.00 0.00 X 0 0 0 MARC CADIN CEO 38.00 2.00 X 980932 51628 36561 BONNIE GODSMAN PRESIDENT 36.00 4.00 X 600284 66698 20160 SUZANNE JACOBS COO - UNTIL 11/23 40.00 0.00 X 399341 0 29949 ARMSTRONG ROBINSON CHIEF ADVOCACY OFFICER 40.00 0.00 X 374017 0 30288 DANIEL LABERT PRES, BROKERAGE & EVP MBR EXP 7.50 32.50 X 383377 0 23782 MARGUERITE SEIDEL SVP, PUBLIC AFFAIRS & MKT 40.00 0.00 X 279746 0 20172 JUDITH DURHAM CHIEF ADMINISTRATIVE OFFICER 40.00 0.00 X 209747 0 14807 ALEX KIM VP, POLICY 40.00 0.00 X 203689 0 18073 DAVID STERTZER FORMER SENIOR EXECUTIVE ADVISOR 0.00 0.00 X 500000 0 0 3931133 118326 193792 24 1 1 0 DIRECTIONS INC PO BOX 681429 SCHAUMBURG IL 60168 PRODUCTION & AV 778917 DUPONT VENTURES LLC 1405 S FERN STREET 94420 ARLINGTON VA 22202 DATABASE CONSULTANT 418642 MARCUM LLP 1899 L ST NW SUITE 850 WASHINGTON DC 20036 ACCOUNTING SERVICES 333595 FEDERAL POLICY GROUP LLC 22982 NETWORD PLACE CHICAGO IL 60673 LOBBYING 241170 INNOGAGE HOLDINGS LLC 5564 ANGUS HILL DRIVE WARRENTON VA 20187 DESIGN SERVICES 228000 11 4678833 4678833 MEMBERSHIP DUES 900099 6015029 6015029 SPONSORSHIPS 900099 3060163 3060163 CONFERENCE REGISTRATIONS 900099 2516668 2516668 AWARDS REVENUE 900099 894113 894113 PRODUCT SALES & LICENSING 900099 482600 482600 322720 308720 14000 13291293 71333 71333 16425 16425 50029 0 50029 50029 50029 932152 223885 708267 708267 708267 OTHER INCOME 900099 56137 56137 56137 18872317 13277293 14000 902191 X 2467688 5071156 185216 380862 485873 93048 412214 641358 19127 2200639 173088 505336 760417 891284 546147 953636 4227921 29766 36057 86408 DUES & SUBSCRIPTIONS 110055 OTHER EXPENSES 25969 BAD DEBT EXPENSE 18333 TAXES & FEES 6490 20328088 1961258 465454 730023 1301513 278075 584464 138677 908319 456377 320231 291295 64992 28936 2474164 2406357 999364 1492292 7722584 6567681 2615237 2420048 2786610 3459501 1000000 603604 681782 1710002 7083629 8193155 X 238376 -1799969 400579 174495 638955 -1625474 7722584 6567681 -1455771 -389467 -419191 0 X 0 1 X 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 1 6015029 2020992 -6240804 -4219812 1503757 -5723569 30240 19064 11176 9478 9478 280513 272231 8282 28936 INTERCOMPANY RECEIVABLE 298754 DEPOSITS 63284 RIGHT OF USE ASSET 1130254 1492292 INTERCOMPANY PAYABLE 168541 LEASE LIABILITY 1526601 SECURITY DEPOSIT 14860 1710002 CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICES SUPPORT INTERNATIONAL PRESENCE IN ASIA TO GROW PROFESSIONAL FINANCIAL SERVICES INDUSTRY 451786 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES SUPPORT INTERNATIONAL PRESENCE IN ASIA TO GROW PROFESSIONAL FINANCIAL SERVICES INDUSTRY 789806 NORTH AMERICA 0 0 PROGRAM SERVICES SUPPORT INTERNATIONAL PRESENCE IN ASIA TO GROW PROFESSIONAL FINANCIAL SERVICES INDUSTRY 58680 0 0 0 0 0 0 1300272 0 1300272 0 0 0 0 0 0 X 1 1 X X X 1 0 0 MARC CADIN CEO 766146 40323 214786 11305 0 0 15675 825 19058 1003 1015665 53456 0 0 BONNIE GODSMAN PRESIDENT 534134 59348 66150 7350 0 0 8010 890 10134 1126 618428 68714 0 0 DAVID STERTZER FORMER SENIOR EXECUTIVE ADVISOR 0 0 0 0 500000 0 0 0 0 0 500000 0 0 0 SUZANNE JACOBS COO - UNTIL 11/23 322194 0 0 0 77147 0 11275 0 18674 0 429290 0 0 0 DANIEL LABERT PRES, BROKERAGE & EVP MBR EXP 351877 0 31500 0 0 0 8750 0 15032 0 407159 0 0 0 ARMSTRONG ROBINSON CHIEF ADVOCACY OFFICER 288517 0 85500 0 0 0 15952 0 14336 0 404305 0 0 0 MARGUERITE SEIDEL SVP, PUBLIC AFFAIRS & MKT 259746 0 20000 0 0 0 7780 0 12392 0 299918 0 0 0 JUDITH DURHAM CHIEF ADMINISTRATIVE OFFICER 205747 0 4000 0 0 0 3286 0 11521 0 224554 0 0 0 ALEX KIM VP, POLICY 196589 0 7100 0 0 0 9880 0 8193 0 221762 0 0 0 PART I, LINE 1A FINSECA PAYS $60/MONTH NON-TAXABLE BENEFIT FOR ALL EMPLOYEES TO PUT TOWARDS GYM/HEALTH CLUB DUES. MR. CADIN, CEO, DID NOT SUBMIT FOR REIMBURSEMENT BUT IS ELIGIBLE TO DO SO SHOULD HE WISH. PART I, LINE 4A DAVID STERZER, SEVERANCE: $500,000 SUZANNE JACOBS, SEVERANCE: $77,147 FORM 990, PART VI, SECTION A, LINE 4 IN AN EFFORT TO REPRESENT THE ENTIRE PROFESSION, A PERCEPTION ISSUE HAS ARISEN REGARDING WHETHER WE HAVE THE RIGHT LEVEL OF DIVERSITY REPRESENTED ON OUR EXECUTIVE COMMITTEE. AS SUCH, THE BYLAWS WERE AMENDED DURING THE YEAR ENDING DECEMBER 31, 2023, FOR THE FOLLOWING GOVERNANCE CHANGES: ADD TWO ADDITIONAL OFFICER POSITIONS TO THE EXECUTIVE COMMITTEE; ADDRESS THE SELECTION, TERM, QUALIFICATIONS, AND DUTIES OF OFFICERS, INCLUDING CLARIFYING THE ROLE OF THE PRESIDENT WHICH HAD ORIGINALLY BEEN DRAFTED AFTER THE MERGER OF AALU AND GAMA; REVISE THE QUALIFICATIONS FOR NOMINATION AND ELECTION OF OFFICERS AND DIRECTORS; REVISION TO VOTING PROCESSES, INCLUDING PROVISIONS TO AMEND THE BYLAWS. FORM 990, PART VI, SECTION A, LINE 6 THE CORPORATION SHALL HAVE MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERSHIP VOTES TO ELECT BOARD MEMBERS AND TO APPROVE THE AMENDMENT TO GOVERNING DOCUMENTS WHEN AMENDED. FORM 990, PART VI, SECTION A, LINE 7B IN EXCHANGE FOR THEIR MEMBERSHIP DUES, VOTING MEMBER ARE PROVIDED WITH CERTAIN RIGHTS, INCLUDING BUT NOT LIMITED TO: THE RIGHTS TO ATTEND MEETINGS, VOTE ON CERTAIN ORGANIZATIONAL DECISIONS AND CHANGES TO GOVERNING DOCUMENTS, AND RECEIVE CERTAIN PUBLICATIONS PRODUCED BY FINSECA. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY AN OUTSIDE ACCOUNTANT AND REVIEWED BY THE ORGANIZATION'S CEO AND CFO PRIOR TO BEING FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY, EACH BOARD MEMBER IS REQUIRED TO SIGN A CONFLICT OF INTEREST STATEMENT. PRIOR TO EACH BOARD MEETING, AN ANNOUNCEMENT IS MADE REGARDING CONFLICTS OF INTEREST. IF AN ACTUAL CONFLICT OF INTEREST SITUATION COMES UP, THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS WOULD TAKE ANY REQUIRED ACTION. FORM 990, PART VI, SECTION B, LINE 15A THE EXECUTIVE COMMITTEE REVIEWS THE CEO'S SALARY ANNUALLY. AS DEEMED NECESSARY BY THE EXECUTIVE COMMITTEE, COMPENSATION STUDIES MAY BE PERFORMED TO DETERMINE APPROPRIATE COMPENSATION. THE DELIBERATION AND DECISION OF THE REVIEW ARE DOCUMENTED IN THE COMMITTEE MINUTES. THE CEO DETERMINES COMPENSATION OF OTHER OFFICERS OR KEY EMPLOYEES OF THE ORGANIZATION. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART IX, LINE 11G OTHER PROFESSIONAL FEES 2,167,617. HR 33,022. FINSECA FOUNDATION 600 13TH STREET NW SUITE 550 WASHINGTON DC 20005 521727202 PROVIDE RESEARCH & EDUCATION MATERIALS TO THOSE IN LIFE INSURANCE SERVICES. DC 501(C)(3) LINE 7 FINSECA 1 NATIONAL ASSOCIATION OF INDEPENDENT LIFE BROKERAGE AGENCIES 10304 EATON PLACE SUITE 100 1022 FAIRFAX VA 22030 363209661 PROMOTE BUSINESS INTEREST OF INDEPENDENT LIFE BROKERAGE AGENCIES IL 501(C)(6) FINSECA 1 NAILBA CHARITABLE FOUNDATION 10304 EATON PLACE SUITE 100 1022 FAIRFAX VA 22030 562448850 PROVIDE GRANTS, FUNDS TO ORGANIZATIONS VA 501(C)(3) LINE 7 NAILBA 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 1 0 1 0 0 FINSECA FOUNDATION L 66000 FMV FINSECA FOUNDATION O 362982 FMV FINSECA FOUNDATION Q 258194 FMV