Liabilities / Assets
98th percentile
Higher debt load relative to assets than 98% of similar nonprofits.
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
4.37x
Liabilities / Revenue
99th percentile
Higher debt load relative to revenue than 99% of similar nonprofits.
Net Margin
15th percentile
Higher net margin than 15% of similar nonprofits.
Top Officer Pay
100th percentile
Higher top officer pay than 100% of similar nonprofits.
Top officer pay equals 167.3% of source-year revenue.
Asset Growth
87th percentile
Faster asset growth than 87% of similar nonprofits.
Revenue Growth
94th percentile
Faster revenue growth than 94% of similar nonprofits.
Balance Sheet
Assets
Up$377,909
Up $143,585 (+61%) from 2012
Net Assets
Down-$1,274,941
Down $66,956 (-5.5%) from 2012
Liabilities
Up$1,652,850
Up $210,541 (+15%) from 2012
Revenue And Expenses
Revenue
Up$304,260
Up $172,010 (+130%) from 2012
Expenses
Down$371,216
Down $193,954 (-34%) from 2012
Net Income
Up-$66,956
Up $365,964 (+85%) from 2012
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jan 1, 2013 to Dec 31, 2013
- Signed
- Nov 8, 2014
- Return Version
- 2013v3.0
- Gross Receipts
- $304,260
Mission and Program Overview
Mission
The life fund's mission is to enhance an understanding of the life and health insurance industry on the part of the general public; to educate the general public of the benefits to them of life and health insurance and other closely-related financial products; and, to educate the general public and policy owners, beneficiaries and other appropriate constituencies of the value of the services of professional insurance agents; to educate the public of the significant and positive role that the life and health insurance industry plays in the growth of a sound social and economic system.
To educate the public about the insurance products and the value of seeking professional advice.
Balance Sheet Detail
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Land, Buildings, and Equipment, Net | $33,085 | $225,544 | ▲ $192,459 |
| Pledges and Grants Receivable | - | $100,000 | - |
| Cash and Non-Interest-Bearing Accounts | $201,239 | $51,015 | ▼ $150,224 |
| Prepaid Expenses and Deferred Charges | - | $1,350 | - |
| Total Assets | $234,324 | $377,909 | ▲ $143,585 |
| Liabilities | |||
| Other Liabilities | $1,364,633 | $1,572,073 | ▲ $207,440 |
| Accounts Payable and Accrued Expenses | $77,676 | $80,777 | ▲ $3,101 |
| Total Liabilities | $1,442,309 | $1,652,850 | ▲ $210,541 |
| Net Assets / Fund Balance | |||
| Temporarily Rstr Net Assets | - | $100,000 | - |
| Unrestricted Net Assets | $-1,207,985 | $-1,374,941 | ▼ $166,956 |
| Total Net Assets Fund Balance | $-1,207,985 | $-1,274,941 | ▼ $66,956 |
| Total Liabilities and Net Assets / Fund Balance | $234,324 | $377,909 | ▲ $143,585 |
Asset Categories
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Other Land Buildings | $225,544 | - | $225,544 |
Compensation and Service Providers
Board Members and Trustees
| Name | Title |
|---|---|
| Stephen O Rothschild | Chair |
| Cindy V Gentry | Chair-elect |
| Debra Newman | Past Chair |
| Marvin H Feldman | President and CEO |
| Bob Garneau | Director |
| Clarke Langrall | Director |
| Cliff Wilson | Director |
| Douglas a Mishkin | Director |
| Julian H Good Jr | Director |
| Matt Mcavoy | Director |
| Michael P Corry | Director |
| Nat Perlmutter | Director |
| Peter Browne | Director |
| Richard H Linsday | Director |
| Ron Lee | Director |
| Faisa Stafford | COO/CFO |
| Marc Schwartz | Secretary |
| Brian H Ashe | Treasurer |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $304,260
- Program Service Revenue
- $0
- Investment Income
- $0
- Other Revenue
- $0
- All Other Contributions
- $304,260
- Change in Net Assets
- $-66,956
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Other Expenses | $246,216 |
| Grants and Similar Amounts Paid | $125,000 |
| Professional Fundraising Fees | $0 |
| Salaries, Compensation, and Employee Benefits | $0 |
| Total Fundraising Expense | $0 |
Functional Expense Allocation
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Grants to Domestic Individuals | $125,000 | - | - | $125,000 |
| Information Technology | $102,118 | - | - | $102,118 |
| Advertising | $54,571 | - | - | $54,571 |
| Depreciation Depletion | - | $33,085 | - | $33,085 |
| Other Expenses | $19,589 | - | - | $19,589 |
| Conferences and Meetings | $500 | - | - | $500 |
| Office Expenses | - | $418 | - | $418 |
| Total Functional Expenses | $337,713 | $33,503 | $0 | $371,216 |
Fundraising, Events, and Gaming
- Fundraising activities
- No
- Gaming activities
- No
- Professional fundraiser used
- No
Fundraising and Gaming Totals
| Line Item | Amount |
|---|---|
| Professional Fundraising Fees | $0 |
Political and Lobbying Activity
- Political campaign activity
- No
- Lobbying activity
- No
- Subject to proxy tax
- No
Debt and Bond Financing
Other Reported Liabilities
| Liability | Amount |
|---|---|
| Due to the Foundation | $1,572,073 |
Governance and Compliance
Governance Checklist
- Compiled or reviewed by an accountant
- No
- Annual disclosure for covered persons
- Yes
- Audit committee
- Yes
- 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
- No
- Management duties delegated
- No
Governance Explanations
Form 990, Part VI, Section A, Line 6
“The fund shall have two classes of members, fund members and fund associates. The "life education fund" members shall include the association for advanced life underwriting, the association of health insurance advisors, gama international, the million dollar round table, the national association of insurance and financial advisors, the national association of independent life brokerage agencies and such other organizations and individuals as may qualify and be elected to membership as "life education fund" members. Fund associates shall be such individuals and organizations interested in furthering the purposes of the foundation as may be approved by an affirmative vote of ten (10) directors. The board of directors may create such classes of fund associates as may be deemed appropriate.”
Form 990, Part VI, Section A, Line 7A
“Each fund member shall appoint two (2) members of the board of directors. Initially, each fund member shall appoint one director to a three (3) year term and another to a two (2) year term. Thereafter, directors shall be appointed by the respective fund members for two (2) year terms. Each director shall hold office until his or her successor has been appointed and qualified; provided that any director who has been selected to serve as an officer of the fund shall no longer be considered to be the appointee of fund member, and the appointing member will thereupon be entitled to designate a replacement who shall complete the unexpired term of any such appointee.”
Form 990, Part VI, Section B, Line 11
“The federal form 990 is first reviewed by ceo, coo, and treasurer. It is then sent to audit committee and the full board of directors prior to filing the form 990 with the internal revenue service.”
Form 990, Part VI, Section B, Line 12C
“New board members are provided with a conflict policy the first year they are on the board of directors. The policy is revisited every year at the spring board meeting. As for employees, the policy is included in the employee handbook.”
Form 990, Part VI, Section C, Line 19
“The fund mails its governing documents, conflict of interest policy, and financial statements to the public upon request.”
Filing and Contact Details
Filer
- EIN
- 52-2316124
- Phone
- 2024645000
Signing Officer
- Name
- Faisa Stafford
- Title
- COO/CFO
- Phone
- 2024645000
- Signed
- 2014-11-08
- Discuss with paid preparer
- Yes
Organization Details
- Principal Officer
- Marvin H Feldman
- Formed
- 2001
- Legal Domicile
- Dc
- Voting Board Members
- 16
- Independent Board Members
- 16
- Employees
- 0
- Volunteers
- 16
Preparer
- Preparer
- Frank H Smith
- Phone
- 2028225000
Supplemental Narrative
Financial Statement Notes
PART X, LINE 2:
“The life fund performed an evaluation of uncertain tax positions for the year ended december 31, 2013, and determined that there were no matters that would require recognition in the consolidated financial statements or that may have any effect on its tax-exempt status.”
Raw XML AppendixShowing 400 of 506 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.
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|---|---|---|
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| IRS990/ActivitiesConductedPrtshpInd | 0 | 0 |
| IRS990/ActivityOrMissionDesc | 0 | TO EDUCATE THE PUBLIC ABOUT THE INSURANCE PRODUCTS AND THE VALUE OF SEEKING PROFESSIONAL ADVICE. |
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| IRS990/AllOtherContributionsAmt | 0 | 304260 |
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| IRS990/BooksInCareOfDetail/USAddress/City | 0 | ARLINGTON |
| IRS990/BooksInCareOfDetail/USAddress/State | 0 | VA |
| IRS990/BooksInCareOfDetail/USAddress/ZIPCode | 0 | 22209 |
| IRS990/BusinessRlnWithFamMemInd | 0 | 0 |
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| IRS990/CYGrantsAndSimilarPaidAmt | 0 | 125000 |
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| IRS990/CYOtherExpensesAmt | 0 | 246216 |
| IRS990/CYOtherRevenueAmt | 0 | 0 |
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| IRS990/CYSalariesCompEmpBnftPaidAmt | 0 | 0 |
| IRS990/CYTotalExpensesAmt | 0 | 371216 |
| IRS990/CYTotalFundraisingExpenseAmt | 0 | 0 |
| IRS990/CYTotalProfFndrsngExpnsAmt | 0 | 0 |
| IRS990/CYTotalRevenueAmt | 0 | 304260 |
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| IRS990/DepreciationDepletionGrp/ManagementAndGeneralAmt | 0 | 33085 |
| IRS990/DepreciationDepletionGrp/TotalAmt | 0 | 33085 |
| IRS990/Desc | 0 | LIFE LESSONS - THE LOSS OF A PARENT OR GUARDIAN IS ONE OF LIFE'S MOST DIFFICULT ORDEALS. THE EMOTIONAL STRAIN CAN BE DEVASTATING TO CHILDREN AND YOUNG ADULTS. RECOGNIZING THE CHARACTER AND PERSEVERANCE MANY YOUNG PEOPLE SHOW IN THE FACE OF SUCH ADVERSITY, THE FUND SPONSORED THE LIFE LESSONS SCHOLARSHIP PROGRAM FOR COLLEGE STUDENTS AND COLLEGE-BOUND HIGH SCHOOL SENIORS. QUALIFIED ENTRANTS WHO SUBMITTED ESSAYS OR VIDEOS ABOUT HOW THE DEATH OF A PARENT OR GUARDIAN IMPACTED THEIR LIVES WERE BE ELIGIBLE FOR THE SCHOLARSHIP MONEY. IN 2013, THE FUND GAVE THE LARGEST POOL OF SCHOLARSHIPS IN THE AMOUNT OF 125,000 TO A TOTAL OF 25 STUDENTS. |
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| IRS990/ElectionOfBoardMembersInd | 0 | 1 |
| IRS990/EmployeeCnt | 0 | 0 |
| IRS990/EngagedInExcessBenefitTransInd | 0 | 0 |
| IRS990/ExpenseAmt | 0 | 180524 |
| IRS990/FamilyOrBusinessRlnInd | 0 | 0 |
| IRS990/FederalGrantAuditRequiredInd | 0 | 0 |
| IRS990/ForeignActivitiesInd | 0 | 0 |
| IRS990/ForeignFinancialAccountInd | 0 | 0 |
| IRS990/ForeignOfficeInd | 0 | 0 |
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| IRS990/Form990PartVIISectionAGrp/TitleTxt | 4 | SECRETARY |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 5 | DIRECTOR |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 6 | DIRECTOR |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 7 | DIRECTOR |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 8 | DIRECTOR |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 9 | DIRECTOR |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 10 | DIRECTOR |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 11 | DIRECTOR |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 12 | DIRECTOR |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 13 | DIRECTOR |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 14 | DIRECTOR |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 15 | DIRECTOR |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 16 | PRESIDENT AND CEO |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 17 | COO/CFO |
| IRS990/Form990ProvidedToGvrnBodyInd | 0 | 1 |
| IRS990/FormationYr | 0 | 2001 |
| IRS990/FormerOfcrEmployeesListedInd | 0 | 0 |
| IRS990/FSAuditedBasisGrp/ConsolidatedBasisFinclStmtInd | 0 | X |
| IRS990/FSAuditedInd | 0 | 1 |
| IRS990/FundraisingActivitiesInd | 0 | 0 |
| IRS990/GamingActivitiesInd | 0 | 0 |
| IRS990/GoverningBodyVotingMembersCnt | 0 | 16 |
| IRS990/GrantAmt | 0 | 125000 |
| IRS990/GrantsToDomesticIndividualsGrp/ProgramServicesAmt | 0 | 125000 |
| IRS990/GrantsToDomesticIndividualsGrp/TotalAmt | 0 | 125000 |
| IRS990/GrantsToIndividualsInd | 0 | 1 |
| IRS990/GrantsToOrganizationsInd | 0 | 0 |
| IRS990/GrantToRelatedPersonInd | 0 | 0 |
| IRS990/GrossReceiptsAmt | 0 | 304260 |
| IRS990/GroupReturnForAffiliatesInd | 0 | 0 |
| IRS990/IncludeFIN48FootnoteInd | 0 | 1 |
| IRS990/IndependentAuditFinclStmtInd | 0 | 0 |
| IRS990/IndependentVotingMemberCnt | 0 | 16 |
| IRS990/IndivRcvdGreaterThan100KCnt | 0 | 0 |
| IRS990/IndoorTanningServicesInd | 0 | 0 |
| IRS990/InfoInScheduleOPartIIIInd | 0 | X |
| IRS990/InfoInScheduleOPartVIInd | 0 | X |
| IRS990/InformationTechnologyGrp/ProgramServicesAmt | 0 | 102118 |
| IRS990/InformationTechnologyGrp/TotalAmt | 0 | 102118 |
| IRS990/InvestmentInJointVentureInd | 0 | 0 |
| IRS990/IRPDocumentCnt | 0 | 0 |
| IRS990/IRPDocumentW2GCnt | 0 | 0 |
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| IRS990/LandBldgEquipBasisNetGrp/EOYAmt | 0 | 225544 |
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| IRS990/LoanOutstandingInd | 0 | 0 |
| IRS990/LobbyingActivitiesInd | 0 | 0 |
| IRS990/LocalChaptersInd | 0 | 0 |
| IRS990/MaterialDiversionOrMisuseInd | 0 | 0 |
| IRS990/MembersOrStockholdersInd | 0 | 1 |
| IRS990/MethodOfAccountingAccrualInd | 0 | X |
| IRS990/MinutesOfCommitteesInd | 0 | 1 |
| IRS990/MinutesOfGoverningBodyInd | 0 | 1 |
| IRS990/MissionDesc | 0 | THE LIFE FUND'S MISSION IS TO ENHANCE AN UNDERSTANDING OF THE LIFE AND HEALTH INSURANCE INDUSTRY ON THE PART OF THE GENERAL PUBLIC; TO EDUCATE THE GENERAL PUBLIC OF THE BENEFITS TO THEM OF LIFE AND HEALTH INSURANCE AND OTHER CLOSELY-RELATED FINANCIAL PRODUCTS; AND, TO EDUCATE THE GENERAL PUBLIC AND POLICY OWNERS, BENEFICIARIES AND OTHER APPROPRIATE CONSTITUENCIES OF THE VALUE OF THE SERVICES OF PROFESSIONAL INSURANCE AGENTS; TO EDUCATE THE PUBLIC OF THE SIGNIFICANT AND POSITIVE ROLE THAT THE LIFE AND HEALTH INSURANCE INDUSTRY PLAYS IN THE GROWTH OF A SOUND SOCIAL AND ECONOMIC SYSTEM. |
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| IRS990/MoreThan5000KToOrgInd | 0 | 0 |
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| IRS990/NetAssetsOrFundBalancesEOYAmt | 0 | -1274941 |
| IRS990/NetUnrelatedBusTxblIncmAmt | 0 | 0 |
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| IRS990/OfficeExpensesGrp/TotalAmt | 0 | 418 |
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| IRS990/OperateHospitalInd | 0 | 0 |
| IRS990/Organization501c3Ind | 0 | X |
| IRS990/OrganizationFollowsSFAS117Ind | 0 | X |
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| IRS990/OtherExpensesGrp/Desc | 0 | VIDEO PRODUCTION |
| IRS990/OtherExpensesGrp/Desc | 1 | LIFE LESSONS |
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| IRS990/OtherExpensesGrp/ProgramServicesAmt | 1 | 19589 |
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| IRS990/OtherExpensesGrp/TotalAmt | 1 | 19589 |
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| IRS990/PayPremiumsPrsnlBnftCntrctInd | 0 | 0 |
| IRS990/PledgesAndGrantsReceivableGrp/EOYAmt | 0 | 100000 |
| IRS990/PoliticalCampaignActyInd | 0 | 0 |
| IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt | 0 | 1350 |
| IRS990/PrincipalOfficerNm | 0 | MARVIN H FELDMAN |
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| IRS990/ProgSrvcAccomActy2Grp/Desc | 0 | NEXT GENERATION: LAUNCHED IN 1997, THIS PROGRAM IS DESIGNED TO EDUCATE HIGH SCHOOL STUDENTS ABOUT LIFE, HEALTH AND DISABILITY INSURANCE AND HOW THEY FIT INTO A SOUND FINANCIAL PLAN. THE KIT CONTAINS ALL THE MATERIALS A TEACHER WOULD NEED TO DEVELOP LESSON PLANS AS WELL AS VIDEOS THAT TAKES A TEEN-TO-TEEN APPROACH TO GRAB THE STUDENTS' ATTENTION. |
| IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt | 0 | 107664 |
| IRS990/ProgSrvcAccomActy3Grp/Desc | 0 | ONLINE PROGRAM - THIS CONSUMER WEBSITE CONTAINS INFORMATION THAT ANSWERS QUESTIONS ABOUT LIFE, HEALTH, AND DISABILITY INSURANCE. IT IS A USEFUL RESOURCE FOR PEOPLE WHO WANT TO EDUCATE THEMSELVES ABOUT THEIR NEEDS, OPTIONS AND ACCESS. THE SITE CONTAINS BASIC INFORMATION ABOUT EACH TYPE OF INSURANCE NEEDS, CALCULATORS, QUIZ QUESTIONS AND A GLOSSARY. CYBER PUBLIC RELATIONS EFFORTS HELPED DRIVE A GREATER NUMBER OF VISITORS TO THE SITE. THE SITE HAS BEEN UPDATED AND REVISED TO BE MORE USER-FRIENDLY AND CONTAIN NEW INFORMATION ABOUT INSURANCE. |
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| IRS990/ReportLandBuildingEquipmentInd | 0 | 1 |
| IRS990/ReportOtherAssetsInd | 0 | 0 |
| IRS990/ReportOtherLiabilitiesInd | 0 | 1 |
| IRS990/ReportProgramRelatedInvstInd | 0 | 0 |
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| IRS990ScheduleA/Contribution35ControlledInd | 0 | 0 |
| IRS990ScheduleA/ContributionControllerInd | 0 | 0 |
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| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 0 | DUE TO THE FOUNDATION |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 0 | THE LIFE FUND PERFORMED AN EVALUATION OF UNCERTAIN TAX POSITIONS FOR THE YEAR ENDED DECEMBER 31, 2013, AND DETERMINED THAT THERE WERE NO MATTERS THAT WOULD REQUIRE RECOGNITION IN THE CONSOLIDATED FINANCIAL STATEMENTS OR THAT MAY HAVE ANY EFFECT ON ITS TAX-EXEMPT STATUS. |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | PART X, LINE 2: |
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| IRS990ScheduleD/TotalLiabilityAmt | 0 | 1572073 |
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| IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt | 0 | 25 |
| IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt | 0 | THE FUND'S CONSUMER EDUCATION ASSISTANT DIRECTOR AND SVP/CCO REVIEW AND MONITORS USE OF SCHOLARSHIP FUNDS. SCHOLARSHIP CHECKS ARE MAILED DIRECTLY TO THE RECIPIENT'S SCHOOLS WITH A DOCUMENT THAT STATE THAT THE USAGE OF THE FUNDS CAN ONLY BE FOR SCHOOL EXPENSES AND/OR TUITITON. |
| IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | PART I, LINE 2: |
| IRS990ScheduleJ/AnyNonFixedPaymentsInd | 0 | 0 |
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| IRS990/ScheduleJRequiredInd | 0 | 1 |
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| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt | 1 | 0 |
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| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount | 1 | 0 |
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| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt | 1 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt | 0 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt | 1 | 21060 |
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| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt | 1 | 0 |
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| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt | 1 | 10315 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt | 0 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt | 1 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt | 0 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt | 1 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm | 0 | MARVIN H FELDMAN |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm | 1 | FAISA STAFFORD |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt | 0 | PRESIDENT AND CEO |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt | 1 | COO/CFO |
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| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt | 1 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt | 0 | 509035 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt | 1 | 181965 |
| IRS990ScheduleJ/SeverancePaymentInd | 0 | 0 |
| IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt | 0 | THE FUND DOES NOT DIRECTLY HIRE OR COMPENSATE EMPLOYEES. ALL EMPLOYEES ARE EMPLOYEES OF THE LIFE AND HEALTH INSURANCE FOUNDATION FOR EDUCATION(THE FOUNDATION), A RELATED ORGANIZATION EXEMPT UNDER SECTION 501(C)(6). COMPARABLES FOR LOCATION AND TITLES ARE RESEARCHED THROUGH THE SOCIETY FOR HUMAN RESOURCE MANAGEMENT AND ASAE. THE FOUNDATION'S PRESIDENT AND CEO'S SALARY IS REVIEWED BY THE ENTIRE EXECUTIVE COMMITTEE. |
| IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | PART I, LINE 3 |
| IRS990ScheduleJ/SupplementalNonqualRtrPlanInd | 0 | 0 |
| IRS990/ScheduleORequiredInd | 0 | 1 |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | THE FUND SHALL HAVE TWO CLASSES OF MEMBERS, FUND MEMBERS AND FUND ASSOCIATES. THE "LIFE EDUCATION FUND" MEMBERS SHALL INCLUDE THE ASSOCIATION FOR ADVANCED LIFE UNDERWRITING, THE ASSOCIATION OF HEALTH INSURANCE ADVISORS, GAMA INTERNATIONAL, THE MILLION DOLLAR ROUND TABLE, THE NATIONAL ASSOCIATION OF INSURANCE AND FINANCIAL ADVISORS, THE NATIONAL ASSOCIATION OF INDEPENDENT LIFE BROKERAGE AGENCIES AND SUCH OTHER ORGANIZATIONS AND INDIVIDUALS AS MAY QUALIFY AND BE ELECTED TO MEMBERSHIP AS "LIFE EDUCATION FUND" MEMBERS. FUND ASSOCIATES SHALL BE SUCH INDIVIDUALS AND ORGANIZATIONS INTERESTED IN FURTHERING THE PURPOSES OF THE FOUNDATION AS MAY BE APPROVED BY AN AFFIRMATIVE VOTE OF TEN (10) DIRECTORS. THE BOARD OF DIRECTORS MAY CREATE SUCH CLASSES OF FUND ASSOCIATES AS MAY BE DEEMED APPROPRIATE. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | EACH FUND MEMBER SHALL APPOINT TWO (2) MEMBERS OF THE BOARD OF DIRECTORS. INITIALLY, EACH FUND MEMBER SHALL APPOINT ONE DIRECTOR TO A THREE (3) YEAR TERM AND ANOTHER TO A TWO (2) YEAR TERM. THEREAFTER, DIRECTORS SHALL BE APPOINTED BY THE RESPECTIVE FUND MEMBERS FOR TWO (2) YEAR TERMS. EACH DIRECTOR SHALL HOLD OFFICE UNTIL HIS OR HER SUCCESSOR HAS BEEN APPOINTED AND QUALIFIED; PROVIDED THAT ANY DIRECTOR WHO HAS BEEN SELECTED TO SERVE AS AN OFFICER OF THE FUND SHALL NO LONGER BE CONSIDERED TO BE THE APPOINTEE OF FUND MEMBER, AND THE APPOINTING MEMBER WILL THEREUPON BE ENTITLED TO DESIGNATE A REPLACEMENT WHO SHALL COMPLETE THE UNEXPIRED TERM OF ANY SUCH APPOINTEE. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | THE FEDERAL FORM 990 IS FIRST REVIEWED BY CEO, COO, AND TREASURER. IT IS THEN SENT TO AUDIT COMMITTEE AND THE FULL BOARD OF DIRECTORS PRIOR TO FILING THE FORM 990 WITH THE INTERNAL REVENUE SERVICE. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 3 | NEW BOARD MEMBERS ARE PROVIDED WITH A CONFLICT POLICY THE FIRST YEAR THEY ARE ON THE BOARD OF DIRECTORS. THE POLICY IS REVISITED EVERY YEAR AT THE SPRING BOARD MEETING. AS FOR EMPLOYEES, THE POLICY IS INCLUDED IN THE EMPLOYEE HANDBOOK. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 4 | THE FUND MAILS ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS TO THE PUBLIC UPON REQUEST. |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | FORM 990, PART VI, SECTION A, LINE 6 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | FORM 990, PART VI, SECTION A, LINE 7A |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | FORM 990, PART VI, SECTION B, LINE 11 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 3 | FORM 990, PART VI, SECTION B, LINE 12C |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 4 | FORM 990, PART VI, SECTION C, LINE 19 |
| IRS990ScheduleR/AssetExchangeInd | 0 | 0 |
| IRS990ScheduleR/AssetPurchaseFromOtherOrgInd | 0 | 0 |
| IRS990ScheduleR/AssetSaleToOtherOrgInd | 0 | 0 |
| IRS990ScheduleR/DivRelatedOrganizationInd | 0 | 0 |
| IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd | 0 | 0 |
| IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd | 0 | 0 |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd | 0 | 0 |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd | 0 | N/A |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1 | 0 | LIFE AND HEALTH INSURANCE FOUNDATION FOR EDUCATION |
Document Assets
No mirrored PDF or thumbnail assets are attached yet.
Filings
Displayed year
2013 • Form 990Detailed filing. Detailed filing data is available for this year.
- Assets
- $377,909
- Liabilities
- $1,652,850
- Net assets
- -$1,274,941
- Revenue
- $304,260
- Expenses
- $371,216
- Net income
- -$66,956