Finseca Pac EIN 85-2061667

Finseca Pac

EIN  85-2061667 Business league / trade association Washington, DC Founded 2020
Form 990 (PDF) Compare with another nonprofit →
Verified accurate 8/10/26 · see original filing: IRS
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Size
$10–100M
What they do
Advocates for financial security professionals, developing leaders and promoting their work.
Leadership
Marc Cadin · CEO · $991K
Money in and out
$20.2M revenue, $17.9M expenses
Bottom line
+11% operating surplus

Advocates for financial security professionals, developing leaders and promoting their work. For fiscal year 2024 it reported $20.2M in revenue, $17.9M in expenses, and $255K in net assets.Pt I

Membership & operating revenue · FY2024
Total revenue
$20.2M
Pt VIII · Ln 12
Total expenses
$17.9M
Pt IX · Ln 25
Net assets
$255K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $2.3M
Operating surplus
+11%
revenue over expenses▲ +246% vs prior filing year
Earned revenue
67%
of revenue from program services & dues▼ -5% vs prior filing year
Payroll share
48%
of spending is salaries & benefits▲ +14% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$20.2M
FY2024▲ +7%
Expenses
$17.9M
FY2024▼ -12%
Total assets
$5.9M
FY2024▼ -10%
Total liabilities
$5.7M
FY2024▼ -31%
Total revenue
$20.2M
Pt VIII · Ln 12
Total expenses
$17.9M
Pt IX · Ln 25
Net assets
$255K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$2.3M
Total assetsPt X · Ln 16$5.9M
Program-expense ratioPt IX · col B
Voting members of governing bodyPt I · Ln 328
Independent voting membersPt I · Ln 428
Mission & Programs · Part III

Where the work happens

3 program services, described in the organization's own filed words · FY2024.
01

Advocacy

The mission of finseca efforts in the legislative and regulatory affairs arena is to promote and advocate for our members, their clients, and the broader insurance community on public policy issues associated with the use of life insurance to provide long-term savings, protection, and financial and retirement security, in the individual…

Pt IX · col B
02

Member Learning and Experience

Finseca provides meetings to keep insurance professionals on the leading edge of trends and skills by providing them with an education and networking for participants. Finseca provides a forum for members to exchange information and an opportunity for members to participate in professional development activities.

Pt IX · col B
03

Public Affairs and Marketing

Finseca's communication efforts help raise industry awareness of the organization's efforts.

Pt IX · col B

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CFinseca Pac
EINHdr · item D85-2061667
Principal addressHdr · item CWashington, DC
WebsiteHdr · item Jwww.finseca.org
Year of formationHdr · item L2020
State of legal domicileHdr · item MDC
Exempt statusHdr · item I501(c)(6) · active
NTEE classificationIRS BMFCommunity Development (S41)
Ruling yearIRS BMFAug 2021

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a28
Independent voting membersPt VI · Ln 1b28
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
$991,460Pt VII · Sec A
$553,697Pt VII · Sec A
Former Senior Executive Advisor
$500,000Pt VII · Sec A
Chief Advocacy Officer - Until 11/24
$423,918Pt VII · Sec A
Pres, Brokerage & EVP Mbr Exp
$336,120Pt VII · Sec A
EVP, Ext. Affairs and Chief of Staff
$333,773Pt VII · Sec A
VP, Federal Affairs
$230,629Pt VII · Sec A
SVP, State and Public Affairs
$228,631Pt VII · Sec A

Marc Cadin’s $991K as CEO is at the 96th percentile of top reported officer pay among 572 $10–100M community development 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 · 8 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Marc Cadin$991,460$980,932$922,566$879,776$179,090
Bonnie Godsman$553,697$600,284$665,237$726,852$144,396
David Stertzer$500,000$500,000$354,167$501,823$143,856
Armstrong Robinson$423,918$374,017$372,702$341,588$82,447
Suzanne Jacobs$399,341$399,889$380,024$79,158
Daniel Labert$336,120$383,377$100,795
Marguerite Seidel$333,773$279,746$267,991$178,220
Judith Durham$209,747$235,613$172,884

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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Statement of Revenue

Part VIII
Program service revenue$13.5M · 67%
Contributions & grants$5.8M · 29%
Investment income$651K · 3%
Other revenue$182K · 1%
Program service revenue67%$13.5M
Contributions & grants29%$5.8M
Investment income3%$651K
Other revenue1%$182K
Total revenueLn 12$20.2M

Balance Sheet

Part X · end of year
CashLn 1$2.0M
Total assetsLn 16$5.9M
Total liabilitiesLn 26$5.7M
Total net assetsLn 32$255K
Months of cash on handcomputed1.4

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $4.3M · Operating expenses/yr $17.9M
2.8 months
Where the money goes
Program services
Program services — · Total expenses $17.9M
Management & General
Management & general — · Total expenses $17.9M
Fundraising
Fundraising — · Total expenses $17.9M
Cost to raise $1
Fundraising expense — · Solicited contributions —
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $5.8M · Total revenue $20.2M
29%
Government reliance
Government grants — · Total revenue $20.2M
Earned-income share
Program service revenue $13.5M · Total revenue $20.2M
67%
Investment reliance
Investment income $651K · Total revenue $20.2M
+3%
Program self-sufficiency
Program service revenue $13.5M · Total expenses $17.9M
75%
Growth & trend
Revenue growth (YoY)
This year $20.2M · Prior year $18.9M
+7%
Revenue CAGR
FY2020 $4.0M · FY2024 $20.2M
+50%
Net-asset trend (YoY)
End of year $255K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $20.2M · Expenses $17.9M
+11%
Liabilities-to-Assets
Total liabilities — · Total assets $5.9M
Net-asset ratio
Net assets $255K · Total assets $5.9M
4%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $2.2M · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $5.9M
37%
People & payroll
Highest Reported Total Compensation
Individual Marc Cadin · Reported title CEO · Highest reported compensation $991K · Total expenses $17.9M
6%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $8.7M · Total expenses $17.9M
48%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Revenue growth 7%
Investment management fee ratio 0%
Legal fee ratio 0%
Accounting fee ratio 1%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · this organization's grantmaking
Grants paid · 1 grant · $600K · 2024–2024

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$20.2M revenue · viewing · ⤓ 990 PDF
FY2023$18.9M revenue · ⤓ 990 PDF
FY2022$16.7M revenue · ⤓ 990 PDF
FY2021$13.2M revenue · ⤓ 990 PDF
FY2020$4.0M revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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