2017-01-31T16:18:50-06:00 2016-06-30 390974031 WEGNER CPAS LLP 2110 LUANN LN MADISON WI 537133074 990 2015-07-01 391645910 FILENE RESEARCH INSTITUTE INC FILE 6086613740 612 W MAIN ST NO 105 MADISON WI 537034721 MARK MEYER CHIEF EXECUTIVE OFFICER 6086613740 2017-01-31 1 BRUCE MAYER CPA P00187180 6082744020 2015 2021-01-29 14:40:06Z MARK MEYER 612 W MAIN ST NO 105 MADISON WI 537034721 8090567 0 X WWW.FILENE.ORG X 1989 WI FILENE RESEARCH INSTITUTE CREATES CHANGE THROUGH INSIGHTFUL RESEARCH, PLAYFUL IDEAS, AND RIGOROUS EXPERIMENTATION TO MAKE REAL AND LASTING IMPACT IN PEOPLE'S LIVES. TOGETHER WE CAN IMPROVE FINANCIAL WELLNESS. 9 9 0 9 213006 -108152 4846020 6807075 1199931 1046485 25485 24001 0 213006 6071436 8090567 0 0 0 0 0 0 0 0 410563 5001987 5338428 5001987 5338428 1069449 2752139 5736048 8741168 821817 1081012 4914231 7660156 X IF FILENE SEEKS TRUTH THROUGH INSIGHTFUL RESEARCH, PLAYFUL IDEAS AND RIGOROUS EXPERIMENTATION, THEN IT EMPOWERS PEOPLE TO ACHIEVE FINANCIAL WELLNESS. 0 0 2304423 68895 FILENE RESEARCH INSTITUTE SEEKS OUT HIGH PRIORITY RESEARCH QUESTIONS FOR THE BENEFIT OF CONSUMERS AND THE CONSUMER FINANCE SYSTEM. THE INSTITUTE REGULARLY PUBLISHES REPORTS ON ITS RESEARCH FINDINGS AND THE OUTPUTS TAKE MANY EVOLVING FORMS INCLUDING WHITE PAPERS, INFOGRAPHICS, AND SLIDE DECKS. THERE WERE 45 FILENE RESEARCH, INNOVATION, AND IMPACT REPORTS AND BRIEFS PUBLISHED DURING THE YEAR. ARTICLES SUMMARIZING THE RESEARCH ARE WIDELY DISTRIBUTED IN THE TRADE, SOCIAL MEDIA, GENERAL MEDIA AND IN THE PUBLICATIONS OF CREDIT UNION TRADE PUBLICATIONS. IN THE INSTITUTE'S LAB, WE TEST IDEAS, BASED ON CONSUMER NEED AND ROOTED IN RESEARCH, WITH THE GOAL OF BRINGING THESE IDEAS TO THE FINANCIAL MARKETPLACE FOR POSITIVE IMPACT. DURING THE YEAR, THE INSTITUTE PILOTED WITH 90 CREDIT UNIONS TO TEST THESE IDEAS. THIS INCLUDED 5 PILOTS (FUNDED THROUGH THE FORD FOUNDATION) OF PRODUCTS DESIGNED TO ADDRESS THE NEEDS OF LOW TO MODERATE INCOME CONSUMERS. OVER $100 MILLION IN LOANS AND NEARLY $1 MILLION IN SAVINGS WERE REALIZED FROM THESE PILOTS. 1071504 977590 THROUGH FILENE RESEARCH INSTITUTE'S OUTREACH AND EDUCATION PROGRAM, FILENE PROVIDES A VARIETY OF WAYS TO INTERACT WITH OUR BODY OF WORK INCLUDING THE I3 (IDEAS, INNOVATION, AND IMPLEMENTATION) COMMUNITY, THE COOPERATIVE TRUST, RESEARCH COUNCILS, INNOVATION WORKSHOPS, EDUCATIONAL PRESENTATIONS AND RESEARCH COLLOQUIA. THESE OUTREACH EVENTS AFFORD LEARNING OPPORTUNITIES, ENGAGEMENT, PEER NETWORKING, ADMINISTRATIVE PROCEEDINGS, AND ORGANIZATIONAL DIRECTION. 915503 FILENE RESEARCH INSTITUTE'S APPLIED RESEARCH AND INNOVATION PROGRAM TAKES THE MOST PROMISING RESEARCH AND USES IT TO BUILD AND TEST IDEAS WITH CREDIT UNIONS THAT SOLVE REAL-WORLD, CONSUMER FINANCE PROBLEMS. FROM OPTIMIZING DIGITAL CHANNELS TO INCREASING MEMBER LOYALTY, PROVIDING MEMBERS ALTERNATIVES TO PAYDAY LENDING TO EVALUATING STRATEGIC APPROACH, OUR IMPACT PROGRAMS ARE DESIGNED TO HELP CREDIT UNIONS PUT OUR RESEARCH INTO ACTION SO THAT THEY CAN SERVE MORE MEMBERS, DEEPEN RELATIONSHIPS AND ULTIMATELY IMPROVE PEOPLE'S LIVES. 4291430 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 45 0 0 1 1 0 0 0 0 0 0 0 0 0 X 9 9 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 WI X PATSY STEWART 6086613754 612 W MAIN ST STE 105 MADISON WI 537034721 X ANGIE OWENS VICE CHAIRPERSON 1.00 X X 0 0 0 MAURICE SMITH CHAIRPERSON 1.00 X X 0 0 0 TRACIE KENYON TREASURER 1.00 X X 0 0 0 JIM NUSSLE SECRETARY 1.00 X X 0 0 0 PAUL KUNDERT DIRECTOR 1.00 X 0 0 0 JAN ROCHE DIRECTOR 1.00 X 0 0 0 BOB TRUNZO DIRECTOR 1.00 X 0 0 0 BILL HAMPEL ADVISORY MEMBER 1.00 X 0 0 0 STEVE SULESKI ADVISORY MEMBER 1.00 X 0 0 0 MARK MEYER CHIEF EXECUTIVE OFFICER 60.00 X 0 0 0 0 0 0 0 0 0 0 CMFG LIFE INSURANCE COMPANY 5910 MINERAL POINT RD MADISON WI 537054456 MANAGEMENT AND ADMINISTRATIVE SERVICES 2949828 1 4114437 2692638 6807075 OUTREACH AND EDUCATION 541720 977590 977590 RESEARCH AND INNOVATIO 541720 68895 68895 1046485 24001 24001 APPLIED RESEARCH 541720 213006 213006 213006 8090567 1046485 213006 24001 X 12001 12001 33395 33395 2973 2973 4263126 3426097 510277 326752 37267 5082 32185 100899 77943 13034 9922 166588 134856 19823 11909 187388 149258 24081 14049 410715 391416 10991 8308 30327 22986 4694 2647 14037 10640 2172 1225 79712 73152 2994 3566 5338428 4291430 636435 410563 14925 14290 5193722 6592477 39820 1695390 11558 12848 263781 239960 46273 23821 9823 11051 419927 391291 5736048 8741168 737918 637475 83899 169398 0 274139 821817 1081012 X 4422981 4842518 491250 2817638 4914231 7660156 5736048 8741168 2752139 -6214 0 X 0 1 X 1 0 X 3496232 3385484 3932120 4846020 6807075 22466931 3496232 3385484 3932120 4846020 6807075 22466931 2717994 19748937 14847 25268 29424 25485 24001 119025 22585956 4552288 0.87440 0.94630 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 12479 8744 3735 116956 107727 9229 134346 123489 10857 23821 REFUNDABLE ADVANCE 274139 274139 8084353 -6214 -6214 8090567 0 8090567 5338428 0 5338428 0 5338428 FORM 990, PART VI, SECTION A, LINE 3 THE INSTITUTE LEASES ITS EMPLOYEES, INCLUDING ITS CHIEF EXECUTIVE OFFICER, FROM CMFG LIFE INSURANCE COMPANY. THE CHIEF EXECUTIVE OFFICER PERFORMS MANAGEMENT DUTIES SUCH AS SUPERVISING PERSONNEL, PLANNING AND EXECUTING BUDGETS AND FINANCIAL OPERATIONS, AND SUPERVISING EXEMPT OPERATIONS. DURING THE CALENDAR YEAR 2015 THE CHIEF EXECUTIVE OFFICER RECEIVED $439,227 OF REPORTABLE COMPENSATION AND $36,716 OF OTHER COMPENSATION FROM CMFG LIFE INSURANCE COMPANY. FORM 990, PART VI, SECTION B, LINE 11 THE PREPARED FORM 990 IS PROVIDED TO THE MEMBERS OF THE GOVERNING BODY BEFORE THE RETURN IS FILED WITH THE IRS. THE DISTRIBUTION OF THE DRAFT RETURN AND ANY REVISED RETURNS ARE BOTH CONDUCTED ELECTRONICALLY. FORM 990, PART VI, SECTION B, LINE 12C ALL MEMBERS OF THE INSTITUTE'S GOVERNING BODY EACH COMPLETE AND SIGN A CONFLICT OF INTEREST STATEMENT ON AN ANNUAL BASIS. THE STATEMENTS ARE REVIEWED BY THE GOVERNING BODY. A COPY OF EACH STATEMENT IS MAINTAINED BY THE INSTITUTE. THE INSTITUTE'S EMPLOYEES COMPLETE CMFG LIFE INSURANCE COMPANY'S CONFLICT OF INTEREST STATEMENT ELECTRONICALLY. FORM 990, PART VI, SECTION B, LINE 15A THE INSTITUTE'S GOVERNING BODY USES SEVERAL RESOURCES TO DETERMINE THE COMPENSATION OF THE EXECUTIVE DIRECTOR/CEO AND THE INSTITUTE'S EMPLOYEES INCLUDING CMFG LIFE INSURANCE COMPANY'S COMPENSATION EXPERTS, COMPENSATION AND BENEFITS SURVEYS FROM TOWERS WATSON WORLDWIDE, RESOURCES WITHIN THE CREDIT UNION SYSTEM AND WITHIN THE ORGANIZATIONS/NETWORKS OF THE MEMBERS OF THE GOVERNING BODY, INDUSTRY DATA POINTS, AND THE GUIDESTAR NONPROFIT COMPENSATION REPORT AND OTHER INFORMATION ON NONPROFIT ORGANIZATIONS AVAILABLE THROUGH WWW.GUIDESTAR.ORG. FORM 990, PART VI, SECTION C, LINE 19 THE INSTITUTE PROVIDES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS TO THE GENERAL PUBLIC UPON WRITTEN REQUEST. FORM 990, PART IX, LINE 11G CONSULTING SERVICES: PROGRAM SERVICE EXPENSES 427,829. MANAGEMENT AND GENERAL EXPENSES 8,663. FUNDRAISING EXPENSES 20,625. TOTAL EXPENSES 457,117. EMPLOYEE LEASING SERVICES: PROGRAM SERVICE EXPENSES 2,413,237. MANAGEMENT AND GENERAL EXPENSES 492,740. FUNDRAISING EXPENSES 277,923. TOTAL EXPENSES 3,183,900. PRINTING SERVICES: PROGRAM SERVICE EXPENSES 55,440. MANAGEMENT AND GENERAL EXPENSES 1,123. FUNDRAISING EXPENSES 2,673. TOTAL EXPENSES 59,236. PUBLICATION SERVICES: PROGRAM SERVICE EXPENSES 57,168. MANAGEMENT AND GENERAL EXPENSES 1,158. FUNDRAISING EXPENSES 2,756. TOTAL EXPENSES 61,082. RESEARCH SERVICES: PROGRAM SERVICE EXPENSES 472,423. MANAGEMENT AND GENERAL EXPENSES 6,593. FUNDRAISING EXPENSES 22,775. TOTAL EXPENSES 501,791.