2025-11-13T07:22:42-06:00 2024-12-31 881478669 CBIZ ADVISORS LLC 1899 L STREET NW 850 WASHINGTON DC 20036 990 2024-01-01 852061667 FINSECA FINS 7036419400 1400 K STREET NW 625 WASHINGTON DC 20005 MARC CADIN CHIEF EXECUTIVE OFFICER 7036419400 2025-11-12 1 1 AARON M FOX P01365820 2022274000 2024 2025-03-06 01:10:19Z X MARC CADIN 1400 K STREET NW 625 WASHINGTON DC 20005 20164644 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. 28 28 59 36 0 0 4678833 5840950 13291293 13490272 779600 651151 122591 182271 18872317 20164644 0 600000 0 0 8590795 8656001 0 0 0 11737293 8643037 20328088 17899038 -1455771 2265606 6567681 5942880 8193155 5688349 -1625474 254531 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. 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. PUBLIC AFFAIRS AND MARKETING: FINSECA'S COMMUNICATION EFFORTS HELP RAISE INDUSTRY AWARENESS OF THE ORGANIZATION'S EFFORTS. GLOBAL: 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. EVENTS: LEADERS AND MANAGERS PROGRAM (LAMP) AND ADVANCED MARKET SUMMIT. LAMP IS AN EVENT THAT FINSECA HOSTS IN THE EARLY SPRING EACH YEAR. THE EVENT ATTRACTS DOMESTIC AND GLOBAL FINANCIAL LEADERS. ATTENDEES HEAR FROM SEVERAL KEYNOTE SPEAKERS ON VARIOUS TOPICS SUCH AS LEADERSHIP MOTIVATION, AND EXPERTS IN THE FINANCIAL PROFESSION. ADVANCED MARKET SUMMIT IS AN EVENT HELD IN LATE SPRING EACH YEAR. THIS EVENT ATTRACTS TOP FINANCIAL ADVISORS WHO ATTEND THE EVENT TO HEAR FROM FELLOW HIGH PERFORMING ADVISORS, RESEARCH EXPERTS, AND SPEAKERS WHO PROVIDE EXPERT ANALYSIS ON FEDERAL AND STATE LEGISLATIVE AND REGULATORY MATTERS. IN CONJUNCTION WITH THE EVENT, FINSECA OFFERS A "DAY ON THE HILL" FOR ATTENDEES WHO WISH TO MEET WITH THEIR LEGISLATIVE REPRESENTATIVES. ISSUES CAMPAIGN: FINSECA IS REQUIRED TO ELEVATE EFFORTS DUE TO SPECIFIC LEGISLATIVE AND REGULATORY THREATS AGAINST THE INDUSTRY. THESE ARE CLASSIFIED AS "ISSUES CAMPAIGN", I.E. DOL, TAX REFORM, ETC. INDIVIDUALS AND CORPORATE CONTRIBUTIONS ARE MADE TO SUPPORT CAMPAIGN MANAGEMENT, QUALITATIVE RESEARCH, POLLING, POLICY PARTNERSHIPS, EARNED MEDIA, ETC. TO MAXIMIZE THE PROFESSION'S IMPACT ON CAPITOL HILL TO ENSURE POLICY IS IN BENEFIT OF THE FINANCIAL SECURITY PROFESSIONAL. THE INDIVIDUAL AND CORPORATE PARTNERS ENGAGE IN ADVOCACY WORK, RECEIVE UNIQUE OPERATIONS INSIGHTS MONTHLY AND UNIQUE QUARTERLY PRINCIPALS CALLS, AND ARE RECOGNIZED THROUGH DIFFERENT EVENTS, WEBINARS, RESOURCES, ETC. NAILBA: NAILBA IS FINSECA'S NEWEST COMMUNITY AND IS THE VOICE OF INDEPENDENT BROKERAGE DISTRIBUTION. THIS COMMUNITY PROMOTES RETIREMENT SECURITY AND CONSUMER CHOICE IN THE INSURANCE AND FINANCIAL SERVICES MARKETPLACE THROUGH THE USE OF INDEPENDENT WHOLESALE BROKERAGE DISTRIBUTION CHANNELS. NAILBA'S SERVICES AND BENEFITS INCLUDE NETWORKING, AN ANNUAL CONFERENCE, AND THE CASE MANAGER CERTIFICATION PROGRAM. MEMBERSHIP AND ENGAGEMENT: THIS REPRESENTS THE COSTS OF PROVIDING BENEFITS TO PROMOTE AND RETAIN FINSECA MEMBERS. CORPORATE PARTNERS: PROVIDE A CUSTOMIZED PACKAGE AND PROCESS FOR FIRMS, AGENCIES, AND CARRIERS TO REACH THE FINANCIAL SECURITY PROFESSIONALS. THERE ARE A VARIETY OF METHODS TO PROVIDE INFORMATION AND NETWORK WITH FINSECA'S VARIETY OF COMMUNITIES: EVENTS, EDUCATION PROGRAMS, ADVOCACY PROGRAMMING, DIGITAL COMMUNICATIONS, E-COMMUNICATIONS, WEBSITE, PUBLICATIONS AND WEBSITE. 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 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 40 0 1 59 1 1 1 0 0 0 1 1 0 0 0 X 28 28 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 0 0 X JUDITH B DURHAM 7036419400 1400 K STREET NW 625 WASHINGTON DC 20005 MIKE JAMES CHAIR-ELECT - UNTIL 06/24, CHAIR 3.00 0.00 X X 0 0 0 RICK VAN BENSCHOTEN CHAIR - UNTIL 06/24, IMMED. PAST CHAIR 3.00 0.00 X X 0 0 0 CHIP VAN DUSEN SECRETARY - UNTIL 06/24, CHAIR-ELECT 3.00 0.00 X X 0 0 0 STEPHANIE RIVAS DIRECTOR - UNTIL 06/24, SECRETARY 3.00 0.00 X X 0 0 0 JIM HEBETS TREASURER 3.00 0.00 X X 0 0 0 ERIC NAISON-PHILLIPS DIRECTOR - UNTIL 06/24, VICE TREASURER 3.00 0.00 X X 0 0 0 EDWARD G DEUTSCHLANDER IMMED. PAST CHAIR 3.00 0.00 X X 0 0 0 LORRIE BALDEVIA DIRECTOR 1.00 0.00 X 0 0 0 KRISTI BARENS DIRECTOR - UNTIL 06/24 1.00 0.00 X 0 0 0 DAPHNE BOYLE DIRECTOR 1.00 0.00 X 0 0 0 TODD BUCHANAN DIRECTOR 1.00 0.00 X 0 0 0 MOIRA BUCKLEY DIRECTOR 1.00 0.00 X 0 0 0 ROB CARNEY DIRECTOR - UNTIL 06/24 1.00 0.00 X 0 0 0 LUIS CHIAPPY DIRECTOR - UNTIL 06/24 1.00 0.00 X 0 0 0 CHRISTIE CORADO DIRECTOR 1.00 0.00 X 0 0 0 VINCE D'ADDONA DIRECTOR - UNTIL 06/24 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 MATTHEW HODSON DIRECTOR 1.00 0.00 X 0 0 0 MICHELLE HUBERT DIRECTOR - UNTIL 06/24 1.00 0.00 X 0 0 0 AMY JAMROG 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 - UNTIL 06/24 1.00 0.00 X 0 0 0 TIMOTHY MAGUIRE DIRECTOR 1.00 0.00 X 0 0 0 MIKE MARTINI DIRECTOR 1.00 0.00 X 0 0 0 SHAUN MCDUFFEE DIRECTOR - UNTIL 06/24 1.00 0.00 X 0 0 0 BRANDY MICKENS DIRECTOR 1.00 0.00 X 0 0 0 CATHY NEIFELD DIRECTOR 1.00 0.00 X 0 0 0 AMY SALO DIRECTOR 1.00 0.00 X 0 0 0 PHILIP SARNECKI DIRECTOR - UNTIL 06/24 1.00 0.00 X 0 0 0 MIKE SCOVEL DIRECTOR 1.00 0.00 X 0 0 0 KEITH WAGNER DIRECTOR 1.00 0.00 X 0 0 0 MISTY WELTZIEN DIRECTOR 1.00 0.00 X 0 0 0 MARC CADIN CEO 38.00 2.00 X 991460 52182 57276 BONNIE GODSMAN PRESIDENT 36.00 4.00 X 553697 61522 34930 ARMSTRONG ROBINSON CHIEF ADVOCACY OFFICER - UNTIL 11/24 40.00 0.00 X 423918 0 39842 KEVIN TORUNO CFO - UNTIL 02/24 40.00 0.00 X 38070 0 4026 DANIEL LABERT PRES, BROKERAGE & EVP MBR EXP 7.50 33.00 X 336120 0 34979 MARGUERITE SEIDEL EVP, EXT. AFFAIRS AND CHIEF OF STAFF 40.00 0.00 X 333773 0 33291 MELISSA BOVA SVP, STATE AND PUBLIC AFFAIRS 40.00 0.00 X 228631 0 19087 ALEX KIM VP, POLICY 40.00 0.00 X 211871 0 22991 JENNIFER FOX VP, FEDERAL AFFAIRS 40.00 0.00 X 230629 0 12894 DAVID STERTZER FORMER SENIOR EXECUTIVE ADVISOR 0.00 0.00 X 500000 0 0 3848169 113704 259316 22 1 1 0 GAYLORD ROCKIES & CONVENTION CTR 6700 N GAYLORD ROCKIES BLVD AURORA CO 80019 MEETING SERVICES 640844 DIPLOMAT BEACH RESORT 3555 S OCEAN DRIVE HOLLYWOOD FL 33019 MEETING SERVICES 300976 FAEGRE DRINKER BIDDLE & REATH LLP 1500 K STREET NW 1100 WASHINGTON DC 20005 GOVERNMENT/ REGULATORY AFFAIRS 259551 DUPONT VENTURES 1405 S FERN STREET 94420 ARLINGTON VA 22202 DATABASE CONSULTANT 255836 FEDERAL POLICY GROUP 101 CONSTITUTION AVE NW STE 701E WASHINGTON DC 20001 LOBBYING 240000 9 5840950 5840950 MEMBERSHIP DUES 900099 6629817 6629817 SPONSORSHIPS 900099 3191908 3191908 CONFERENCE REGISTRATIONS 900099 1998457 1998457 AWARDS REVENUE 900099 907255 907255 PRODUCT SALES & LICENSING 900099 363444 363444 399391 399391 13490272 101809 101809 300 300 181961 0 181961 181961 181961 549342 0 549342 549342 549342 OTHER INCOME 900099 10 10 10 20164644 13490272 0 833422 600000 2136861 5319977 159910 605094 434159 79539 240046 371289 15966 1757891 98182 372629 665144 933352 459037 671897 2741035 4108 21713 68290 DUES & SUBSCRIPTIONS 96688 OTHER EXPENSES 22967 TAXES & FEES 11484 FIXED ASSETS DISPOSAL 6780 5000 17899038 465454 378455 1301513 1652723 278075 35500 138677 265963 456377 372823 280513 280070 28936 443 2406357 2219652 1492292 1017321 6567681 5942880 2420048 2687430 3459501 1500200 603604 0 1710002 1500719 8193155 5688349 X -1799969 219031 174495 35500 -1625474 254531 6567681 5942880 2265606 -385601 0 X 0 1 X 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 1 6629817 2770000 -5723569 -2953569 1657454 -4611023 280513 280070 443 443 RIGHT OF USE ASSET 621217 INTERCOMPANY RECEIVABLE 359041 DEPOSITS 37063 1017321 LEASE LIABILITY 915828 REFUNDABLE ADVANCES 450000 INTERCOMPANY PAYABLE 120031 SECURITY DEPOSIT 14860 1500719 CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICES SUPPORT INTERNATIONAL PRESENCE IN THE REGION TO GROW PROFESSIONAL FINANCIAL SERVICES INDUSTRY 101060 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES SUPPORT INTERNATIONAL PRESENCE IN THE REGION TO GROW PROFESSIONAL FINANCIAL SERVICES INDUSTRY 1028062 NORTH AMERICA 0 0 PROGRAM SERVICES SUPPORT INTERNATIONAL PRESENCE IN THE REGION TO GROW PROFESSIONAL FINANCIAL SERVICES INDUSTRY 36153 0 0 0 0 0 0 1165275 0 1165275 0 0 0 0 0 0 0 AMERICAN COUNCIL OF LIFE INSURERS 101 CONSTITUTION AVENUE NW SUITE 700 WASHINGTON DC 20001 521044350 501(C)(6) 600000 0 CONTRIBUTION TO COMBAT DOL LEGISLATIONS 0 1 X X 1 1 X X X X X 1 0 0 MARC CADIN CEO 775887 40836 214786 11305 787 41 16387 863 38025 2001 1045872 55046 0 0 BONNIE GODSMAN PRESIDENT 464561 51618 88650 9850 486 54 11092 1233 20344 2261 585133 65016 0 0 DAVID STERTZER FORMER SENIOR EXECUTIVE ADVISOR 0 0 0 0 500000 0 0 0 0 0 500000 0 0 0 ARMSTRONG ROBINSON CHIEF ADVOCACY OFFICER - UNTIL 11/24 312878 0 85500 0 25540 0 13530 0 26312 0 463760 0 0 0 DANIEL LABERT PRES, BROKERAGE & EVP MBR EXP 304080 0 31500 0 540 0 8867 0 26112 0 371099 0 0 0 MARGUERITE SEIDEL EVP, EXT. AFFAIRS AND CHIEF OF STAFF 313449 0 20000 0 324 0 8105 0 25186 0 367064 0 0 0 MELISSA BOVA SVP, STATE AND PUBLIC AFFAIRS 200671 0 27600 0 360 0 9554 0 9533 0 247718 0 0 0 JENNIFER FOX VP, FEDERAL AFFAIRS 192741 0 37600 0 288 0 10910 0 1984 0 243523 0 0 0 ALEX KIM VP, POLICY 203943 0 7100 0 828 0 9455 0 13536 0 234862 0 0 0 PART I, LINE 1A FINSECA PROVIDES LIMITED FIRST-CLASS TRAVEL FOR BUSINESS PURPOSES WHICH IS NOT INCLUDED IN TAXABLE COMPENSATION. 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 DURING THE YEAR ENDING DECEMBER 31, 2024, SEVERANCE PAYMENTS WERE MADE TO THE FOLLOWING INDIVIDUALS: DAVID STERTZER, FORMER SENIOR EXECUTIVE ADVISOR: $500,000 ARMSTRONG ROBINSON, CHIEF ADVOCACY OFFICER: $25,000 KEVIN TORUNO, CFO: $8,182 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. FINSECA FOUNDATION 1400 K STREET NW SUITE 625 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 1400 K STREET NW SUITE 625 WASHINGTON DC 20005 363209661 PROMOTE BUSINESS INTEREST OF INDEPENDENT LIFE BROKERAGE AGENCIES IL 501(C)(6) FINSECA 1 NAILBA CHARITABLE FOUNDATION 1400 K STREET NW SUITE 625 WASHINGTON DC 20005 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 85380 FMV FINSECA FOUNDATION O 590913 FMV FINSECA FOUNDATION Q 618793 FMV