Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jun 1991.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
32 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
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Who runs it and what they're paid
12 people listed on the 990; $118K paid to officers and key staff.
Bonnie Godsman’s $62K as President is at the 8th percentile of top reported officer pay among 3869 $1–10M human services nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.
Compensation history total reportable pay by year · 2 named individuals · Part VII
| Name | FY2024 | FY2023 |
|---|---|---|
| Bonnie Godsman | $61,522 | $66,698 |
| Marc Cadin | $52,182 | $51,628 |
Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.
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Questions the 990 asks
The form asks each of these directly. These are the filed answers.
- Family or business ties among officersPt VI · Ln 2No
- Top official's pay set by an independent reviewPt VI · Ln 15aNo
Programs and updates
Offers research and educational materials for life insurance and financial services professionals.
Questions for Finseca Foundation
Your first name shows with your question. Finseca Foundation answers here, for everyone.
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Education and Research
Finseca foundation provides encouraging educational and research endeavors to advance the art and science of agency management in life insurance and related financial services.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2023 990, line by line.
Download 990
| Line | Start FY23 | End FY23 |
|---|---|---|
| Cash and savingsLn 1–2 | $551K | $645K |
| InvestmentsLn 11–13 | $2.2M | $2.5M |
| Total assetsLn 16 | $2.9M | $3.2M |
| LiabilitiesLn 26 | $280K | $253K |
| Net assetsLn 32 | $2.6M | $3.0M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Management feesLn 11a | $528K | $186K | $128K | $214K |
| Legal feesLn 11b | $10K | $10K | ||
| Investment management feesLn 11f | $16K | $16K | ||
| Office expensesLn 13 | $28K | $5K | $3K | $19K |
| TravelLn 17 | $17K | $3K | $2K | $12K |
| Conferences, conventions and meetingsLn 19 | $11K | $5K | $99 | $6K |
| Other expenses (24a–d)Ln 24 | $15K | $1K | $11K | $3K |
| Total functional expensesLn 25 | $625K | $201K | $170K | $254K |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2024 Latest | $1.2M | $1.1M | $104K | $3.2M | 990 PDF |
| FY2023 Viewing | $692K | $625K | $67K | $3.0M | 990 PDF |
| FY2022 | $681K | $733K | −$52K | $2.6M | 990 PDF |
| FY2021 | $2.0M | $1.2M | $843K | $3.0M | 990 PDF |
| FY2020 | $568K | $2.5M | −$2.0M | $2.6M | 990 PDF |
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Schedules filed Part IV
See the full FY2023 990 (6 parts)
Part I · Summary $691,640 revenue, 12 lines filed
Part VI · Governance 10 of 10 board members independent, 1 to look at
Part VIII · Statement of revenue $691,640 across 9 lines filed
Part IX · Statement of functional expenses $624,507 across 7 lines filed
Part X · Balance sheet $3,243,065 assets, 13 lines filed
Part XI · Reconciliation of net assets $2,990,197 net assets at year end
Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File
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