2021-10-06T05:37:09-05:00 2020-12-31 111986323 MARCUM LLP 1899 L STREET NW SUITE 850 WASHINGTON DC 20036 990 2020-09-01 852061667 FINSECA FINS 7036419400 1220 L STREET NW NO 100 WASHINGTON DC 20005 MARC CADIN CHIEF EXECUTIVE OFFICER 7036419400 2021-10-06 1 MARC CADIN XXX-XX-XXXX AARON M FOX P01365820 2022274000 0 AAL1 IAL1 2020 2022-09-23 18:48:47Z X MARC CADIN 1220 L STREET NW NO 100 WASHINGTON DC 20005 5360163 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. 27 27 43 71 14150 10377 1458351 2226599 165743 112134 3962827 0 0 3144430 0 0 2052294 5196724 -1233897 9408160 6175890 3232270 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 BI-MONTHLY 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. MEMBERSHIP AND ENGAGEMENT: THIS REPRESENTS THE COSTS OF PROVIDING BENEFITS TO PROMOTE AND RETAIN FINSECA MEMBERS. INTERNATIONAL: CONSISTS OF MEMBERSHIP DUES, AWARDS, LICENSING FEES FOR PROGRAM SALES, AND EVENTS AND MEETINGS. PROVIDES MEMBERS WITH CUSTOMIZED BUSINESS AND LEADERSHIP SOLUTIONS THAT ARE CUTTING-EDGE AND DESIGNED TO HELP THEM, THEIR TEAM MEMBERS, AND THEIR BUSINESS TO OUTPERFORM ON A GLOBAL BASIS. EDUCATION AND RESEARCH: FINSECA FOUNDATION PROVIDES ENCOURAGING EDUCATIONAL AND RESEARCH ENDEAVORS TO ADVANCE THE ART AND SCIENCE OF AGENCY MANAGEMENT IN LIFE INSURANCE AND RELATED FINANCIAL SERVICES. CORPORATE PARTNERS: THE CORPORATE PARTNER NETWORK PROVIDES SUPPORT FOR FINSECA'S COMMITMENT TO ELEVATE, ACCELERATE, AND ADVOCATE FOR THE FINANCIAL SECURITY PROFESSION. THE PROGRAM OFFERS THREE PILLAR PROGRAM SPONSOR OPPORTUNITIES: PARTNERS IN ELEVATION, PARTNERS IN ACCELERATION, AND PARTNERS IN ADVOCACY. EACH PROGRAM PROVIDES UNIQUE AND TAILORED SOLUTIONS FOR PARTNERS WHO ARE DEDICATED TO THEIR CLIENTS AND THE FINSECA MISSION. 0 1 0 1 0 0 0 0 0 1 1 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 34 0 1 43 1 1 1 0 0 0 1 1 0 0 0 X 27 27 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 1220 L STREET NW NO 100 WASHINGTON DC 20005 MARC CADIN CEO 20.00 20.00 X 179090 0 5854 DAVID STERTZER SENIOR EXECUTIVE ADVISOR - AALU 40.00 X 143856 0 7632 BONNIE GODSMAN PRESIDENT 30.00 10.00 X 144396 0 6961 ARMSTRONG ROBINSON CHIEF ADVOCACY OFFICER 40.00 X 82447 0 8402 SUZANNE JACOBS CHIEF OPERATING OFFICER 40.00 X 79158 0 9974 KELLY KIDWELL CHAIR 3.00 2.00 X X 0 0 0 JERI TURLEY CHAIR-ELECT 3.00 X X 0 0 0 RAY BENING IMMEDIATE PAST CHAIR 3.00 X X 0 0 0 FRANK SCALESE IMMEDIATE PAST CHAIR 3.00 5.00 X X 0 0 0 EDWARD G DEUTSCHLANDER SECRETARY 3.00 5.00 X X 0 0 0 RICK VAN BENSCHOTEN SECRETARY-ELECT 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 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 628947 0 38823 3 0 1 0 MARCUM LLP 1899 L ST NW SUITE 850 WASHINGTON DC 20036 ACCOUNTING SERVICES 165337 ADVOC8 LLC 1309 5TH STREET NE WASHINGTON DC 20002 DESIGN SERVICES 101994 2 1458351 1458351 MEMBERSHIP DUES 900099 1560861 1560861 SERVICE FEE REVENUE 900099 451947 451947 PRODUCT SALES & LICENSING 900099 126350 126350 CONFERENCE REGISTRATIONS 900099 49291 49291 SPONSORSHIPS 900099 24000 24000 14150 14150 2226599 77766 77766 1485313 1397336 87977 87977 87977 SUBLEASE INCOME 900099 96458 96458 REFUNDS 900099 11332 11332 OTHER INCOME 900099 4344 4344 112134 3962827 2212449 14150 277877 485091 2166415 133021 176566 183337 180829 166441 204286 11479 487404 42094 200639 115253 5835 206714 56242 170528 26 61836 4573 BAD DEBT EXPENSE 55100 DUES & SUBSCRIPTIONS 36832 TEMP STAFFING 36638 GIFTS & AWARDS 12324 -2779 5196724 0 565873 0 944526 0 365066 279062 61836 0 217226 0 4997973 0 1532431 0 785065 0 9408160 0 1327077 0 2640974 0 2000000 0 207839 0 6175890 X 0 2866770 0 365500 0 3232270 0 9408160 X -1233897 173645 4292522 X 0 1 X 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 1 1560860 426667 -6280373 -5853706 390215 -6243921 194353 61836 132517 84709 84709 217226 PIGIX, 62,006 SHARES 700032 F BNY MELLON BOND FUND, 62,305 SHARES 832399 F 1532431 INTERCOMPANY RECEIVABLE 559580 DEFERRED COMPENSATION ASSET 207839 DEPOSITS 17646 785065 DEFERRED COMPENSATION LIABILITY 207839 207839 X PART X, LINE 2: FOR THE PERIOD SEPTEMBER 1, 2020 (DATE OF INCEPTION) THROUGH DECEMBER 31, 2020, 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. EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES SUPPORT INTERNATIONAL PRESENCE IN ASIA TO GROW PROFESSIONAL FINANCIAL SERVICES INDUSTRY LEADERS. 126697 0 0 0 0 0 0 126697 0 126697 0 0 0 0 0 0 PART III ACCOUNTING METHOD: X 1 1 X X X 0 0 0 MARC CADIN CEO 179090 0 0 0 0 0 0 0 5854 0 184944 0 0 0 DAVID STERTZER SENIOR EXECUTIVE ADVISOR - AALU 143856 0 0 0 0 0 1680 0 5952 0 151488 0 0 0 BONNIE GODSMAN PRESIDENT 144396 0 0 0 0 0 3350 0 3611 0 151357 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 XI, LINE 9: NET ASSETS FROM MERGER 4,292,522. FINSECA FOUNDATION 101 CONSTITUTION AVE NW NO 703 E WASHINGTON DC 20002 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 1 0 0 0 0 0 0 FINSECA FOUNDATION L 448947 FMV