2021-10-07T13:30:20-05:00 2020-12-31 111986323 MARCUM LLP 1899 L STREET NW SUITE 850 WASHINGTON DC 20036 990 2020-01-01 521727202 FINSECA FOUNDATION FINS 7036419400 1220 L STREET NW NO 100 WASHINGTON DC 20005 MARC CADIN CHIEF EXECUTIVE OFFICER 7036419400 2021-10-07 1 MARC CADIN XXX-XX-XXXX AARON M FOX P01365820 2022274000 0 AAL1 IAL1 2020 2022-09-23 18:48:47Z X X MARC CADIN 1220 L STREET NW NO 100 WASHINGTON DC 20005 888257 0 X WWW.FINSECA.ORG/FOUNDATION/ X 1990 DC PROVIDE RESEARCH AND EDUCATION MATERIALS TO THOSE IN LIFE INSURANCE AND RELATED FINANCIAL SERVICES. 13 13 0 35 0 0 1224451 441183 0 25000 132264 91865 8567 9821 1365282 567869 0 0 0 0 0 0 0 0 246777 1221055 2547155 1221055 2547155 144227 -1979286 4649675 3126215 218786 559580 4430889 2566635 THE MISSION OF FINSECA FOUNDATION IS TO ENCOURAGE EDUCATIONAL AND RESEARCH ENDEAVORS TO ADVANCE THE ART AND SCIENCE OF AGENCY MANAGEMENT IN LIFE INSURANCE AND RELATED FINANCIAL SERVICES. 0 0 415119 25000 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. 415119 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 5 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 13 13 0 1 1 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 0 0 AL AK AR CA CT DC FL GA HI IL KS KY MD MA MI MN MS NH NJ NM NY NC OK OR PA RI SC TN UT VA WV WI X JUDITH DURHAM 7036419400 1220 L STREET NW NO 100 WASHINGTON DC 20005 MARC CADIN CEO - AS OF 09/2020 20.00 20.00 X 0 179090 5854 BONNIE GODSMAN PRESIDENT 10.00 30.00 X X 0 144396 6961 JOHN BUCSEK CHAIR 5.00 X X 0 0 0 EDWARD G DEUTSCHLANDER IMMEDIATE PAST CHAIR 5.00 3.00 X X 0 0 0 HOWARD SHARFMAN VICE CHAIR AND CHAIR ELECT 5.00 X X 0 0 0 PAUL E VIGNONE TREASURER 5.00 X X 0 0 0 FRANK SCALESE GAMA INT'L PRESIDENT - UNTIL 09/2020 5.00 3.00 X 0 0 0 RYAN BECK TRUSTEE 2.00 X 0 0 0 DAVIN BELL TRUSTEE 2.00 X 0 0 0 BRUCE DAVISON TRUSTEE 2.00 X 0 0 0 TITUS O EKEOMA TRUSTEE - UNTIL 04/2020 2.00 X 0 0 0 KELLY KIDWELL TRUSTEE 2.00 3.00 X 0 0 0 TOM LOVE TRUSTEE 2.00 X 0 0 0 NATHAN L MOORE TRUSTEE - UNTIL 05/2020 2.00 X 0 0 0 DANNY NEGIN TRUSTEE 2.00 X 0 0 0 JAMES J PUCCI TRUSTEE 2.00 X 0 0 0 STEPHANIE RIVAS TRUSTEE 2.00 X 0 0 0 SAMUEL L TERRAZZINO TRUSTEE 2.00 X 0 0 0 FREDERICK WALKER TRUSTEE - UNTIL 05/2020 2.00 X 0 0 0 DEBRA GROMMONS CEO - UNTIL 09/2020 40.00 X 0 0 0 0 323486 12815 0 0 1 0 GAMA INTERNATIONAL 11921 FREEDOM DRIVE RESTON VA 20190 MANAGEMENT FEES 218419 1 441183 441183 PRODUCT LICENSING 900099 25000 25000 25000 114801 114801 297452 320388 -22936 -22936 -22936 AUCTION INCOME 900099 6301 6301 OTHER INCOME 900099 3520 3520 9821 567869 25000 0 101686 777374 342044 202117 233213 10800 7020 2160 1620 10931 10931 46499 39938 4680 1881 18469 10997 3337 4135 519 353 88 78 1869 19 1532 318 2820 28 2313 479 8480 5512 1696 1272 BAD DEBT EXPENSE 1647887 1647887 STATE FILING FEES 17970 7727 7727 2516 TRAINING 1917 1016 326 575 AWARDS AND GIFTS 1051 452 452 147 569 13 13 543 2547155 415119 1885259 246777 321508 403604 1974698 0 0 187500 8100 0 56510 56510 8480 0 2332623 2528589 4266 6522 4649675 3126215 30596 0 188190 559580 218786 559580 X 1905533 2566635 2525356 0 4430889 2566635 4649675 3126215 -1979286 115032 0 X 0 1 X 1 0 X 904221 798788 204079 1224451 441183 3572722 904221 798788 204079 1224451 441183 3572722 134086 3438636 162747 190408 125780 161489 114801 755225 9821 9821 4337768 25000 0.79270 0.81040 X PART II, SHORT YEAR EXPLANATION: THE AMOUNTS LISTED IN SCHEDULE A, PART II, SECTION A, COLUMN (D) REPRESENT THE SHORT YEAR PERIOD FROM 9/1/2018-12/31/2018. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 44161 44161 0 12349 12349 0 0 DUE TO AFFILIATE 559580 559580 X PART X, LINE 2: FOR THE PERIOD SEPTEMBER 1, 2020 (DATE OF CONSOLIDATION) THROUGH DECEMBER 31, 2020, FINSECA FOUNDATION 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. 0 0 0 0 0 0 0 0 0 MARC CADIN CEO - AS OF 09/2020 0 179090 0 0 0 0 0 0 0 5854 0 184944 0 0 BONNIE GODSMAN PRESIDENT 0 144396 0 0 0 0 0 3350 0 3611 0 151357 0 0 SCHEDULE J, PART I, LINE 3: THE FOUNDATION SHARES PERSONNEL WITH GAMA INTERNATIONAL AND FINSECA, ORGANIZATIONS EXEMPT FROM INCOME TAX UNDER SECTION 501(C)(6) OF THE INTERNAL REVENUE CODE. FOR THE PURPOSES OF FORM 990 REPORTING, THE COMPENSATION FOR THE MARC CADIN, BONNIE GODSMAN, AND DEBRA GROMMONS REPORTED ON THE FORM 990, PART VII WAS PAID AS PART OF REIMBURSEMENT MANAGEMENT FEES INCLUDED ON FORM 990, PART IX, LINE 11A. FORM 990, PART VI, SECTION A, LINE 3 THE FOUNDATION SHARES PERSONNEL WITH FINSECA, AN ORGANIZATION EXEMPT FROM INCOME TAX UNDER SECTION 501(C)(6) OF THE INTERNAL REVENUE CODE. FOR THE PURPOSES OF FORM 990 REPORTING, THE COMPENSATION FOR ALL STAFF OF THE FOUNDATION REPORTED ON THE FORM 990 WAS PAID AS PART OF REIMBURSED MANAGEMENT FEES INCLUDED ON FORM 990, PART IX, LINE 11A. FORM 990, PART VI, SECTION A, LINE 4 THE ORGANIZATION'S BYLAWS WERE AMENDED DURING THE FISCAL YEAR ENDING DECEMBER 31, 2020, TO REFLECT THE ORGANIZATION'S NAME CHANGE AND ADDITIONAL OF A SOLE MEMBER. FORM 990, PART VI, SECTION A, LINE 6 THE SOLE MEMBER OF THE FOUNDATION IS FINSECA, AN ORGANIZATION EXEMPT FROM INCOME TAX UNDER SECTION 501(C)(6) OF THE INTERNAL REVENUE CODE. FORM 990, PART VI, SECTION A, LINE 7A THE SOLE MEMBER OF THE FOUNDATION HAS THE POWER TO APPOINT TRUSTEES TO THE BOARD. FORM 990, PART VI, SECTION A, LINE 7B AMENDMENTS TO THE BYLAWS REQUIRE APPROVAL BY THE SOLE MEMBER OF THE FOUNDATION. FORM 990, PART VI, SECTION B, LINE 11B THE DRAFT FORM 990 IS REVIEWED BY THE CEO OF THE FOUNDATION AND THE CFO OF FINSECA. THE DRAFT IS ALSO REVIEWED BY THE FOUNDATION TREASURER AND THE FINANCE COMMITTEE PRIOR TO BEING FILED WITH THE IRS. THE FINAL COPY IS PRESENTED TO THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 12C THE POLICY AND ITS APPLICATION SHALL BE REVIEWED ANNUALLY FOR THE INFORMATION AND GUIDANCE OF TRUSTEES AND OFFICERS, EACH OF WHOM HAS A CONTINUING RESPONSIBILITY TO SCRUTINIZE THEIR TRANSACTIONS AND OUTSIDE BUSINESS INTERESTS AND RELATIONSHIPS FOR POTENTIAL CONFLICTS OF INTEREST, AND MAKE SUCH DISCLOSURES AS DESCRIBED IN THIS POLICY. AS ADMINISTERED BY THE CEO, EACH TRUSTEE WILL BE ASKED TO COMPLETE A CERTIFICATION OF AGREEMENT WITH THE POLICY AND DISCLOSURE OF ANY KNOWN CONFLICTS OF INTEREST UPON HIS OR HER ELECTION OR RE-ELECTION TO THE BOARD AND ANNUALLY THEREAFTER. ALL CERTIFICATIONS SHALL BE REVIEWED BY THE EXECUTIVE COMMITTEE. FORM 990, PART VI, SECTION B, LINE 15A THE FOUNDATION SHARES PERSONNEL WITH FINSECA, AN ORGANIZATION EXEMPT FROM INCOME TAX UNDER SECTION 501(C)(6) OF THE INTERNAL REVENUE CODE. FOR THE PURPOSES OF FORM 990 REPORTING, THE COMPENSATION FOR THE CEO OF THE FOUNDATION REPORTED ON THE FORM 990, PART VII WAS PAID AS PART OF REIMBURSEMENT MANAGEMENT FEES INCLUDED ON FORM 990, PART IX, LINE 11A. FINSECA'S 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 FOUNDATION DOES NOT MAKE ITS GOVERNING DOCUMENTS AVAILABLE TO THE PUBLIC. HOWEVER, THE FINANCIAL STATEMENTS ARE MADE AVAILABLE UPON REQUEST. FINSECA 1220 L STREET NW NO 100 WASHINGTON DC 20005 852061667 ADVOCATE FOR THE FINANCIAL SECURITY PROFESSION DC 501(C)(6) N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0