2022-11-14T12:41:16-06:00 2021-12-31 111986323 MARCUM LLP 1899 L STREET NW SUITE 850 WASHINGTON DC 20036 990 2021-01-01 852061667 FINSECA FINS 7036419400 600 13TH STREET NW 550 WASHINGTON DC 20005 MARC CADIN CHIEF EXECUTIVE OFFICER 7036419400 2022-11-14 1 MARC CADIN XXX-XX-XXXX AARON M FOX P01365820 2022274000 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z X MARC CADIN 600 13TH STREET NW 550 WASHINGTON DC 20005 21014333 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. 22 22 61 27 85550 0 1458351 5649990 2226599 6448022 165743 1106722 112134 32178 3962827 13236912 0 0 0 0 3144430 6460663 0 0 0 2052294 6102023 5196724 12562686 -1233897 674226 9408160 8033532 6175890 4878561 3232270 3154971 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 1 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 0 0 1 48 0 1 61 1 1 1 0 0 0 0 0 0 0 X 22 22 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 0 0 AL AR CT GA HI KY MD MA NJ NY PA SC TN WI X JUDITH DURHAM 7036419400 600 13TH STREET NW 550 WASHINGTON DC 20005 MARC CADIN CEO 20.00 20.00 X 879776 0 31324 BONNIE GODSMAN PRESIDENT 30.00 10.00 X 726852 0 24313 DAVID STERTZER SENIOR EXECUTIVE ADVISOR 40.00 X 501823 0 9662 SUZANNE JACOBS CHIEF OPERATING OFFICER 40.00 X 380024 0 30327 ARMSTRONG ROBINSON CHIEF ADVOCACY OFFICER 40.00 X 341588 0 25859 JOSH CARON VP, LEGISLATIVE AFFAIRS 40.00 X 186224 0 19493 JUDITH DURHAM CHIEF ADMINISTRATIVE OFFICER 40.00 X 172884 0 17928 MARGUERITE SEIDEL SVP, PUBLIC AFFAIRS & MARKETING 40.00 X 178220 0 8338 EMILY WARD VP, MEMBERSHIP 40.00 X 158082 0 18021 KELLY KIDWELL IMMEDIATE PAST CHAIR 3.00 2.00 X X 0 0 0 JERI TURLEY CHAIR 3.00 X X 0 0 0 RAY BENING IMMEDIATE PAST CHAIR UNTIL 5/31 3.00 X X 0 0 0 FRANK SCALESE IMMEDIATE PAST CHAIR UNTIL 5/31 3.00 5.00 X X 0 0 0 EDWARD G DEUTSCHLANDER CHAIR-ELECT 3.00 5.00 X X 0 0 0 RICK VAN BENSCHOTEN SECRETARY 3.00 X X 0 0 0 BOB BACCIGALUPI TREASURER 3.00 X X 0 0 0 KRISTI ACREE DIRECTOR 1.00 X 0 0 0 KRISTI BARENS DIRECTOR 1.00 X 0 0 0 LUIS CHIAPPY DIRECTOR 1.00 X 0 0 0 CHRISTIE CORADO DIRECTOR 1.00 X 0 0 0 PAUL DODD DIRECTOR 1.00 X 0 0 0 BOB EICHLER DIRECTOR 1.00 X 0 0 0 ROBERT FAKHIMI DIRECTOR UNTIL 5/31 1.00 X 0 0 0 DAVID FRITZ DIRECTOR 1.00 X 0 0 0 JOE GERGELY DIRECTOR 1.00 X 0 0 0 JIM HEBETS DIRECTOR 1.00 X 0 0 0 LARRY HERMAN DIRECTOR 1.00 X 0 0 0 MICHELLE HUBERT DIRECTOR 1.00 X 0 0 0 MIKE JAMES DIRECTOR 1.00 X 0 0 0 JAMES JOYCE DIRECTOR 1.00 X 0 0 0 DON LIPPENCOTT DIRECTOR 1.00 X 0 0 0 TIMOTHY MAGUIRE DIRECTOR 1.00 X 0 0 0 ERIC NAISON-PHILLIPS DIRECTOR 1.00 X 0 0 0 AMY SALO DIRECTOR 1.00 X 0 0 0 JR TOLAND DIRECTOR 1.00 X 0 0 0 CHIP VAN DUSEN DIRECTOR 1.00 X 0 0 0 3525473 0 185265 18 0 1 0 MARCUM LLP 1899 L ST NW SUITE 850 WASHINGTON DC 20036 ACCOUNTING SERVICES 335829 DUPONT VENTURES LLC 500 NEW JERSEY AVE NW WASHINGTON DC 20001 CONSULTING 256117 INNOGAGE HOLDINGS LLC 5564 ANGUS HILL DR WARRENTON VA 20187 MARKETING, PRINTING, AND VIDEO SERVICES 240079 FEDERAL POLICY GROUP LLC 101 CONSTITUTION AVE NW UNIT 701 WASHINGTON DC 20001 LOBBYING 240000 RICCHETTI INC 1301 PENNSYLVANIA AVE NW 500 WASHINGTON DC 20004 LOBBYING 180000 9 5649990 5649990 MEMBERSHIP DUES 900099 4432453 4432453 SPONSORSHIPS 900099 718500 718500 AWARDS REVENUE 900099 692775 692775 PRODUCT SALES & LICENSING 900099 271783 271783 CONFERENCE REGISTRATIONS 900099 135550 135550 196961 111411 85550 6448022 121763 121763 8762380 7777421 984959 984959 984959 OTHER INCOME 900099 32178 32178 32178 13236912 6362472 85550 1138900 X 5581353 163061 363211 353038 200228 366953 28352 2441176 147209 328572 557624 897249 175284 172470 445106 17291 150269 66736 DUES & SUBSCRIPTIONS 66152 BAD DEBT EXPENSE 36168 TAXES & FEES 2790 MISCELLANEOUS EXPENSES 2394 12562686 565873 1344449 944526 827967 365066 802298 309302 212104 217226 97198 4997973 3458635 1532431 0 785065 1502985 9408160 8033532 1327077 1441305 2640974 2517487 2000000 207839 919769 6175890 4878561 X 2866770 2621805 365500 533166 3232270 3154971 9408160 8033532 674226 -751525 0 X 0 1 X 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 1 4432453 553333 -6243921 -5690588 1108113 -6798701 30240 3287 26953 279062 208817 70245 97198 INTERCOMPANY RECEIVABLE 571983 DEFERRED COMPENSATION ASSET 867718 DEPOSITS 63284 1502985 DEFERRED COMPENSATION LIABILITY 919769 919769 X PART X, LINE 2: FOR THE YEAR ENDED DECEMBER 31, 2021, FINSECA HAS DOCUMENTED ITS CONSIDERATION OF FASB ASC 740-10, INCOME TAXES, THAT PROVIDES GUIDANCE FOR REPORTING UNCERTAINTY IN INCOME TAXES AND HAS DETERMINED THAT NO MATERIAL UNCERTAIN TAX POSITIONS QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS. CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICES SUPPORT INTERNATIONAL PRESENCE IN ASIA TO GROW PROFESSIONAL FINANCIAL SERVICES INDUSTRY 102099 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES SUPPORT INTERNATIONAL PRESENCE IN ASIA TO GROW PROFESSIONAL FINANCIAL SERVICES INDUSTRY 614330 NORTH AMERICA 0 0 PROGRAM SERVICES SUPPORT INTERNATIONAL PRESENCE IN ASIA TO GROW PROFESSIONAL FINANCIAL SERVICES INDUSTRY 206667 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES SUPPORT INTERNATIONAL PRESENCE IN ASIA TO GROW PROFESSIONAL FINANCIAL SERVICES INDUSTRY 7700 0 0 0 0 0 0 930796 0 930796 0 0 0 0 0 0 PART III ACCOUNTING METHOD: X 1 1 X X X 0 0 0 MARC CADIN CEO 879776 0 0 0 0 0 14500 0 16824 0 911100 0 0 0 BONNIE GODSMAN PRESIDENT 726852 0 0 0 0 0 14408 0 9905 0 751165 0 0 0 DAVID STERTZER SENIOR EXECUTIVE ADVISOR 501823 0 0 0 0 0 1042 0 8620 0 511485 0 0 0 SUZANNE JACOBS CHIEF OPERATING OFFICER 380024 0 0 0 0 0 13283 0 17044 0 410351 0 0 0 ARMSTRONG ROBINSON CHIEF ADVOCACY OFFICER 341588 0 0 0 0 0 13431 0 12428 0 367447 0 0 0 JOSH CARON VP, LEGISLATIVE AFFAIRS 186224 0 0 0 0 0 9603 0 9890 0 205717 0 0 0 JUDITH DURHAM CHIEF ADMINISTRATIVE OFFICER 172884 0 0 0 0 0 6250 0 11678 0 190812 0 0 0 MARGUERITE SEIDEL SVP, PUBLIC AFFAIRS & MARKETING 178220 0 0 0 0 0 2083 0 6255 0 186558 0 0 0 EMILY WARD VP, MEMBERSHIP 158082 0 0 0 0 0 7725 0 10296 0 176103 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 THE CORPORATION SHALL HAVE MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A 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 A, LINE 7B THE MEMBERSHIP VOTES TO ELECT BOARD MEMBERS AND TO APPROVE THE AMENDMENT TO GOVERNING DOCUMENTS WHEN AMENDED. 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 HR 80,403. OTHER PROFESSIONAL FEES 2,360,773. FINSECA FOUNDATION 600 13TH STREET NW 550 WASHINGTON DC 20005 521727202 PROVIDE RESEARCH & EDUCATION MATERIALS TO THOSE IN LIFE INSURANCE SERVICES. DC 501(C)(3) LINE 7 FINSECA 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 1 0 0 0 0 FINSECA FOUNDATION L 1050334 FMV