Civic Intelligence

Finseca Foundation

EIN 52-1727202 • 501(c)3 • Washington, DC

Profile

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.

1400 K Street NW 625Washington, DC 20005

www.finseca.org/FOUNDATION

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

56th percentile

0.10x

Higher debt load relative to assets than 56% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

73rd percentile

0.31x

Higher debt load relative to revenue than 73% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

58th percentile

8.8%

Higher net margin than 58% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

62nd percentile

8.5%

Faster asset growth than 62% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

89th percentile

72%

Faster revenue growth than 89% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Assets

Up

$3,519,945

Up $276,880 (+8.5%) from 2023

Liabilities

Up

$368,379

Up $115,511 (+46%) from 2023

Net Assets

Up

$3,151,566

Up $161,369 (+5.4%) from 2023

Revenue

Up

$1,191,460

Up $499,820 (+72%) from 2023

Expenses

Up

$1,087,060

Up $462,553 (+74%) from 2023

Net Income

Up

$104,400

Up $37,267 (+56%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$6.0M$4.0M$2.0M$0Assets 2011: $4,035,495Liabilities 2011: $12,860Net Assets 2011: $4,022,6352011Assets 2012: $3,911,927Liabilities 2012: $15,203Net Assets 2012: $3,896,7242012Assets 2013: $4,411,087Liabilities 2013: $284,401Net Assets 2013: $4,126,6862013Assets 2014: $4,483,216Liabilities 2014: $286,040Net Assets 2014: $4,197,1762014Assets 2015: $4,460,578Liabilities 2015: $297,487Net Assets 2015: $4,163,0912015Assets 2016: $4,315,693Liabilities 2016: $293,036Net Assets 2016: $4,022,6572016Assets 2017: $4,522,847Liabilities 2017: $391,535Net Assets 2017: $4,131,3122017Assets 2018: $4,615,340Liabilities 2018: $271,336Net Assets 2018: $4,344,0042018Assets 2019: $4,649,675Liabilities 2019: $218,786Net Assets 2019: $4,430,8892019Assets 2020: $3,126,215Liabilities 2020: $559,580Net Assets 2020: $2,566,6352020Assets 2021: $3,647,363Liabilities 2021: $601,463Net Assets 2021: $3,045,9002021Assets 2022: $2,907,709Liabilities 2022: $279,690Net Assets 2022: $2,628,0192022Assets 2023: $3,243,065Liabilities 2023: $252,868Net Assets 2023: $2,990,1972023Assets 2024: $3,519,945Liabilities 2024: $368,379Net Assets 2024: $3,151,5662024

Highlighted filing

2024

Assets$3,519,945
Liabilities$368,379
Net Assets$3,151,566

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$4.0M$2.0M$0-$2.0MExpenses 2011: $926,0292011Expenses 2012: $822,4102012Revenue 2013: $1,013,153Expenses 2013: $755,420Net Income 2013: $257,7332013Revenue 2014: $797,817Expenses 2014: $954,906Net Income 2014: -$157,0892014Revenue 2015: $1,045,922Expenses 2015: $797,429Net Income 2015: $248,4932015Revenue 2016: $1,069,854Expenses 2016: $1,262,913Net Income 2016: -$193,0592016Revenue 2017: $1,143,315Expenses 2017: $1,195,885Net Income 2017: -$52,5702017Revenue 2018: $1,043,490Expenses 2018: $949,222Net Income 2018: $94,2682018Revenue 2019: $1,365,282Expenses 2019: $1,221,055Net Income 2019: $144,2272019Revenue 2020: $567,869Expenses 2020: $2,547,155Net Income 2020: -$1,979,2862020Revenue 2021: $2,011,061Expenses 2021: $1,168,232Net Income 2021: $842,8292021Revenue 2022: $681,465Expenses 2022: $733,480Net Income 2022: -$52,0152022Revenue 2023: $691,640Expenses 2023: $624,507Net Income 2023: $67,1332023Revenue 2024: $1,191,460Expenses 2024: $1,087,060Net Income 2024: $104,4002024

Highlighted filing

2024

Revenue$1,191,460
Expenses$1,087,060
Net Income$104,400

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$3.52$0.37$3.15$1.19$1.09$0.10
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.24$0.25$2.99$0.69$0.62$0.07
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.91$0.28$2.63$0.68$0.73$0.05
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.65$0.60$3.05$2.01$1.17$0.84
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.13$0.56$2.57$0.57$2.55$1.98
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.65$0.22$4.43$1.37$1.22$0.14
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.62$0.27$4.34$1.04$0.95$0.09
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.52$0.39$4.13$1.14$1.20$0.05
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.32$0.29$4.02$1.07$1.26$0.19
2015Detailed filing. Detailed filing data is available for this year.$4.46$0.30$4.16$1.05$0.80$0.25
2014Detailed filing. Detailed filing data is available for this year.$4.48$0.29$4.20$0.80$0.95$0.16
2013Summary only. Only limited summary data is available for this year.$4.41$0.28$4.13$1.01$0.76$0.26
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.91$0.02$3.90$0.82
2011XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.04$0.01$4.02$0.93
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 12, 2025
Return Version
2024v5.2
Gross Receipts
$1,423,993
Mission and Program Overview

Mission

To provide research and education materials to those involved in the life insurance and related financial services field.

Provide research and education materials to those in life insurance and related financial services.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$2,522,279$2,919,032▲ $396,753
Cash and Non-Interest-Bearing Accounts$503,574$426,756▼ $76,818
Savings and Temporary Cash Investments$141,849$138,645▼ $3,204
Accounts Receivable$43,487$0▼ $43,487
Pledges and Grants Receivable$0$24,790▲ $24,790
Total Assets$3,243,065$3,519,945▲ $276,880
Other Assets Total$31,876$10,722▼ $21,154
Liabilities
Other Liabilities$250,219$365,595▲ $115,376
Deferred Revenue$2,649$2,083▼ $566
Accounts Payable and Accrued Expenses$0$701▲ $701
Total Liabilities$252,868$368,379▲ $115,511
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,946,710$2,381,566▼ $565,144
Net Assets With Donor Restrictions$43,487$770,000▲ $726,513
Total Net Assets Fund Balance$2,990,197$3,151,566▲ $161,369
Total Liabilities and Net Assets / Fund Balance$3,243,065$3,519,945▲ $276,880
Compensation and Service Providers

Employees

NameTitleBaseOtherTotal
Bonnie GodsmanPresident$51,618$13,398$65,016
Marc CadinCEO$40,836$14,210$55,046

Board Members and Trustees

NameTitle
Howard SharfmanChair
John BucsekImmediate Past Chair
Bruce DavisonTrustee
Davin BellTrustee
James J PucciTrustee
Jamie HebetsTrustee
Jessica CiccarelliTrustee
Maurice SpringerTrustee
Ryan BeckTrustee
Samuel L TerrazzinoTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$953,376
Program Service Revenue
$59,498
Investment Income
$184,940
Other Revenue
$-6,354
All Other Contributions
$938,747
Change in Net Assets
$104,400

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table25$111,500Fair Market Value (FMV)
Total Noncash Contributions25$111,500-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,087,060
Total Fundraising Expense$379,387
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management$431,394$185,836$347,129$964,359
Conferences and Meetings-$51,892-$51,892
Office Expenses$4,708$3,205$15,000$22,913
Fees for Service Investment Mgmnt Fees-$18,538-$18,538
Travel$2,439$1,658$9,673$13,770
Other Expenses$2,430$1,652$5,636$9,718
Insurance$840$571$1,949$3,360
Fees for Services Legal-$2,510-$2,510
Total Functional Expenses$441,811$265,862$379,387$1,087,060
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$232,533
Fundraising Gross Income$215,631
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Golf Tournament$140,000$126,158$1,658$124,500
Auction$90,260$89,473$5,940$83,533
Total Events$230,260$215,631$232,533$-16,902
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Intercompany Payable$365,595
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
Yes
Management duties delegated
Yes

Governance Explanations

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 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 vp, finance of finseca. 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 15

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.

Filing and Contact Details

Filer

Filer Name
Finseca Foundation
EIN
52-1727202
Phone
7036419400
Address
1400 K STREET NW 625, WASHINGTON, DC 20005

Signing Officer

Name
Marc Cadin
Title
CEO
Phone
7036419400
Signed
2025-11-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Marc Cadin
Formed
1990
Legal Domicile
Dc
Voting Board Members
10
Independent Board Members
10
Employees
0
Volunteers
21

Preparer

Firm
Cbiz Advisors LLC
Address
1899 L STREET NW 850, WASHINGTON, DC 20036
Preparer
Aaron M Fox
Phone
2022274000
Raw XML AppendixShowing 400 of 618 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

Path#Value
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IRS990/Form990PartVIISectionAGrp/TitleTxt5TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt6TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt7TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt8TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt9TRUSTEE
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