Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Aug 2021.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Who runs it and what they're paid
43 people listed on the 990; $3.5M paid to officers and key staff.
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
| Name | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|
| 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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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 15aYes
Programs and updates
Advocates for financial security professionals, developing leaders and promoting their work.
Questions for Finseca Pac
Your first name shows with your question. Finseca Pac answers here, for everyone.
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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…
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.
Communications and Marketing
Finseca's communication efforts help raise industry awareness of the organization's efforts.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2022 990, line by line.
Download 990
| Line | Start FY22 | End FY22 |
|---|---|---|
| Cash and savingsLn 1–2 | $1.3M | $2.7M |
| InvestmentsLn 11–13 | $3.5M | $2.5M |
| Land, buildings, equipmentLn 10c | $97K | $65K |
| Total assetsLn 16 | $8.0M | $7.7M |
| LiabilitiesLn 26 | $4.9M | $7.1M |
| Net assetsLn 32 | $3.2M | $639K |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Pay of current officers, directors and key staffLn 5 | $2.5M | |||
| Other salaries and wagesLn 7 | $4.5M | |||
| Pension plan contributionsLn 8 | $143K | |||
| Other employee benefitsLn 9 | $298K | |||
| Payroll taxesLn 10 | $374K | |||
| Legal feesLn 11b | $135K | |||
| Accounting feesLn 11c | $373K | |||
| Investment management feesLn 11f | $20K | |||
| Other fees for servicesLn 11g | $3.2M | |||
| Advertising and promotionLn 12 | $248K | |||
| Office expensesLn 13 | $445K | |||
| Information technologyLn 14 | $758K | |||
| RoyaltiesLn 15 | $927K | |||
| OccupancyLn 16 | $570K | |||
| TravelLn 17 | $556K | |||
| Conferences, conventions and meetingsLn 19 | $3.4M | |||
| InterestLn 20 | $18K | |||
| Depreciation, depletion and amortizationLn 22 | $43K | |||
| InsuranceLn 23 | $64K | |||
| Other expenses (24a–d)Ln 24 | $272K | |||
| All other expensesLn 24e | $575 | |||
| Total functional expensesLn 25 | $18.8M |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2024 Latest | $20.2M | $17.9M | $2.3M | $255K | 990 PDF |
| FY2023 | $18.9M | $20.3M | −$1.5M | −$1.6M | 990 PDF |
| FY2022 Viewing | $16.7M | $18.8M | −$2.1M | $639K | 990 PDF |
| FY2021 | $13.2M | $12.6M | $674K | $3.2M | 990 PDF |
| FY2020 | $4.0M | $5.2M | −$1.2M | $3.2M | 990 PDF |
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Schedules filed Part IV
See the full FY2022 990 (6 parts)
Part I · Summary $16,709,489 revenue, 12 lines filed
Part VI · Governance 32 of 32 board members independent, no flags
Part VIII · Statement of revenue $16,709,489 across 8 lines filed
Part IX · Statement of functional expenses $18,807,668 across 21 lines filed
Part X · Balance sheet $7,722,584 assets, 16 lines filed
Part XI · Reconciliation of net assets $638,955 net assets at year end
Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File
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