Civic Intelligence

Financial Advisor Training Institute

990 • Fiscal year 2023 • EIN 84-2218596

Jan 01, 2023 to Dec 31, 2023 • Filed on Aug 08, 2024

Organization ProfileFINANCIALADVISORSTRAININGINSTIUTE.ORG
3707 W Maple Rd Ste 101Bloomfield Hills, MI 48301

(313) 300-2277

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

87th percentile

0.62x

Higher debt load relative to assets than 87% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

57th percentile

0.13x

Higher debt load relative to revenue than 57% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

61st percentile

9.8%

Higher net margin than 61% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

48th percentile

$51,000

Higher top officer pay than 48% of similar nonprofits.

Top officer pay equals 5.1% of source-year revenue.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

90th percentile

59%

Faster asset growth than 90% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

93rd percentile

123%

Faster revenue growth than 93% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets87th percentile

Assets

Up

$210,813

Up $77,861 (+59%) from 2022

Net Assets

Up

$80,494

Up $98,757 (+541%) from 2022

Liabilities

Down

$130,319

Down $20,896 (-14%) from 2022

Revenue And Expenses
Liabilities / Revenue57th percentileNet Margin61st percentile

Revenue

Up

$1,008,722

Up $556,674 (+123%) from 2022

Expenses

Up

$909,965

Up $551,981 (+154%) from 2022

Net Income

Up

$98,757

Up $4,693 (+5.0%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth90th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$300K$200K$100K$0-$100K-$200KAssets 2022: $132,952Liabilities 2022: $151,215Net Assets 2022: -$18,2632022Assets 2023: $210,813Liabilities 2023: $130,319Net Assets 2023: $80,4942023Assets 2024: $39,357Liabilities 2024: $142,927Net Assets 2024: -$103,5702024Assets 2025: $243,780Liabilities 2025: $153,523Net Assets 2025: $90,2572025

Highlighted filing

2023

Assets$210,813
Liabilities$130,319
Net Assets$80,494
Open 2023 Filing

Operations Trend

Revenue Growth93rd percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.5M$1.0M$500K$0-$500KRevenue 2022: $452,048Expenses 2022: $357,984Net Income 2022: $94,0642022Revenue 2023: $1,008,722Expenses 2023: $909,965Net Income 2023: $98,7572023Revenue 2024: $780,543Expenses 2024: $964,607Net Income 2024: -$184,0642024Revenue 2025: $926,169Expenses 2025: $732,342Net Income 2025: $193,8272025

Highlighted filing

2023

Revenue$1,008,722
Expenses$909,965
Net Income$98,757
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Aug 8, 2024
Return Version
2023v5.1
Gross Receipts
$1,008,722
Mission and Program Overview

Mission

To replenish a depleting talent pool of qualified financial advisors in the retail investment services communinty in the united states by creating a consistent learning environment that teaches professionalism, high ethical standards, sophisticated investment and insurance knowledge, and proper sales and client interaction skills for those who aspire to become a professional financial advisor. This optional instruction that provides assistance as detailed above. This is not a degree granting entity or a proprietary school.

The financial advisor training institute's (fati) mission is to restock a depleting talent pool of qualified financial advisors in the united states by creating a consistent learning environment that teaches professionalism, high ethical standards, sophisticated investment and insurance knowledge, and proper sales and client interaction skills. The institute will train 250,000 new financial advisors over the next 15 years. Our intent is not to save a for-profit industry but rather to keep a profession critical to the financial well-being of the u.s. Economy and the american public at large thriving because future generations deserve sound financial advice.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$107,539$176,469▲ $68,930
Rtn Earn Endowment Incm Other Fnds$-18,263$80,494▲ $98,757
Loans From Officers Directors$75,167$75,167→ $0
Accounts Receivable$25,413$34,344▲ $8,931
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$132,952$210,813▲ $77,861
Liabilities
Accounts Payable and Accrued Expenses$76,048$55,152▼ $20,896
Total Liabilities$151,215$130,319▼ $20,896
Net Assets / Fund Balance
Total Net Assets Fund Balance$-18,263$80,494▲ $98,757
Total Liabilities and Net Assets / Fund Balance$132,952$210,813▲ $77,861
Compensation and Service Providers
Top Officer Pay48th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Terry LindnerCEO/presdient of BoardFT$51,000$51,000

Board Members and Trustees

NameTitle
Brad FrolingPresident
Lori AjlouniDirector
David BelloSecretary
Theodore BrownTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,008,722
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$98,757
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$826,715
Salaries, Compensation, and Employee Benefits$83,250
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Advertising-$411,871-$411,871
Fees for Services Other$191,154$40,517-$231,671
Information Technology$82,613--$82,613
Current Officers, Directors, Trustees, and Key Employees$45,900$5,100-$51,000
Payroll Taxes$18,225$2,025-$20,250
Fees for Services Accounting-$20,065-$20,065
Occupancy-$12,600-$12,600
Comp Disqual Persons$10,800$1,200-$12,000
Other Expenses$4,229$3,880-$3,880
Office Expenses-$1,980-$1,980
Total Functional Expenses$410,727$499,238$0$909,965
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$75,167$75,167→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 8B

“The organization has no committees.”

Form 990, Part VI, Section B, Line 11B

“A copy of the form 990 is reviewed by the ceo before filing.”

Form 990, Part VI, Section B, Line 12C

“The conflict of interest policy is reviewed annually.”

Form 990, Part VI, Section C, Line 19

“AVAILABLE ON GUIDESTAR.”

Filing and Contact Details

Filer

Filer Name
Financial Advisor Training Institute
EIN
84-2218596
Phone
3133002277
Address
3707 W MAPLE RD STE 101, BLOOMFIELD HILLS, MI 48301

Signing Officer

Name
Terry Linder
Title
CEO
Phone
3133002277
Signed
2024-08-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Terry Lindner
Formed
2019
Legal Domicile
Mi
Voting Board Members
5
Independent Board Members
4
Employees
2
Volunteers
4

Preparer

Firm
Doeren Mayhew
Address
305 WEST BIG BEAVER ROAD, TROY, MI 48084
Preparer
Stephen Mccaghy CPA
Phone
2482443000
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Call center: program service expenses 191,154. Management and general expenses 0. Fundraising expenses 0. Total expenses 191,154. Enrollment counselor: program service expenses 0. Management and general expenses 40,517. Fundraising expenses 0. Total expenses 40,517.”

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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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION HAS NO COMMITTEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A COPY OF THE FORM 990 IS REVIEWED BY THE CEO BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE CONFLICT OF INTEREST POLICY IS REVIEWED ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3AVAILABLE ON GUIDESTAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4CALL CENTER: PROGRAM SERVICE EXPENSES 191,154. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 191,154. ENROLLMENT COUNSELOR: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 40,517. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 40,517.
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART IX, LINE 11G
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0132952
IRS990/TotalAssetsEOYAmt0210813
IRS990/TotalAssetsGrp/BOYAmt0132952
IRS990/TotalAssetsGrp/EOYAmt0210813
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0499238
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0410727
IRS990/TotalFunctionalExpensesGrp/TotalAmt0909965
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0151215
IRS990/TotalLiabilitiesEOYAmt0130319
IRS990/TotalLiabilitiesGrp/BOYAmt0151215
IRS990/TotalLiabilitiesGrp/EOYAmt0130319
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-18263
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt080494
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0410727
IRS990/TotalProgramServiceRevenueAmt01008722
IRS990/TotalReportableCompFromOrgAmt051000
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01008722
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01008722
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt04
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0132952
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0210813
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/USAddress/AddressLine1Txt03707 W MAPLE RD STE 101
IRS990/USAddress/CityNm0BLOOMFIELD HILLS
IRS990/USAddress/StateAbbreviationCd0MI
IRS990/USAddress/ZIPCd048301
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0FINANCIALADVISORSTRAININGINSTIUTE.ORG
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02024-08-08 14:25:15Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0TERRY LINDER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum03133002277
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-08-08
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FINANCIAL ADVISOR TRAINING INSTITUTE
ReturnHeader/Filer/BusinessNameControlTxt0FINA
ReturnHeader/Filer/EIN0842218596
ReturnHeader/Filer/PhoneNum03133002277
ReturnHeader/Filer/USAddress/AddressLine1Txt03707 W MAPLE RD STE 101
ReturnHeader/Filer/USAddress/CityNm0BLOOMFIELD HILLS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MI
ReturnHeader/Filer/USAddress/ZIPCd048301
ReturnHeader/IRSResponsiblePrtyInfoCurrInd01
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0382492570
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0DOEREN MAYHEW
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0305 WEST BIG BEAVER ROAD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0TROY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MI
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd048084
ReturnHeader/PreparerPersonGrp/PhoneNum02482443000
ReturnHeader/PreparerPersonGrp/PreparationDt02024-08-01
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0STEPHEN MCCAGHY CPA
ReturnHeader/ReturnTs02024-08-12T07:23:06-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$210,813
Liabilities
$130,319
Net assets
$80,494
Revenue
$1,008,722
Expenses
$909,965
Net income
$98,757
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$0.24$0.15$0.09$0.93$0.73$0.19
2024Detailed filing. Detailed filing data is available for this year.$0.04$0.14$0.10$0.78$0.96$0.18
2023Detailed filing. Detailed filing data is available for this year.$0.21$0.13$0.08$1.01$0.91$0.10
2022Detailed filing. Detailed filing data is available for this year.$0.13$0.15$0.02$0.45$0.36$0.09