Overview
What is Finseca Foundation?
Finseca Foundation is a nonprofit organization situated in Washington, D.C., specifically at 600 13th Street NW 550. Its primary focus is on education and research, aiming to advance the field of agency management in life insurance and related financial services. They achieve this by providing valuable research and educational materials to professionals in these sectors. The mission of Finseca Foundation is to foster educational and research initiatives that aim to enhance the art and science of agency management within the life insurance and financial services industries.
Official website here: www.finseca.org/foundation/
What are the reviews and ratings of this charity?
Charity Navigator Rating: 56% (One-Star out of Four Star rating)
The Finseca Foundation has received a One-Star rating from Charity Navigator, indicating significant concerns regarding its financial health and accountability. The overall score is derived solely from its Accountability & Finance metrics, where it scored 56%. While the foundation has strengths in governance, such as having a fully independent board and comprehensive financial oversight, its financial ratios raise red flags.
In terms of governance, the foundation excels with 92% independent board members and full marks in areas like conflict of interest policies and financial statement audits. However, it struggles in key financial ratios, notably a low program expense ratio of 37.09%, which suggests a lesser focus on its charitable activities compared to administrative costs. Additionally, the liabilities to assets ratio of 9.61% further indicates potential financial vulnerabilities.
The compensation for key personnel is also noteworthy, with the CEO earning $922,566 and the President earning $665,237, which may raise concerns about salary levels relative to program spending. Overall, while the foundation demonstrates strong governance practices, its financial metrics and high executive salaries could lead to questions regarding its operational effectiveness and mission fulfillment.
This AI summary has been generated from information found on Charity Navigator.
Is Finseca Foundation legitimate?
Finseca Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Finseca Foundation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.finseca.org/foundation/
What is the mission statement of Finseca Foundation?
The Finseca Foundation's mission is centered around promoting educational and research initiatives. Their primary goal is to enhance the field of agency management in life insurance and related financial services. By encouraging these endeavors, they aim to advance the art and science of this sector, ultimately contributing to its overall growth and development. The foundation provides resources that support this mission, fostering a continuous learning environment and driving innovation in the field.
Official website here: www.finseca.org/foundation/
Who is the CEO of Finseca Foundation?
Marc Cadin is the President of Finseca Foundation. The CEO's salary of Finseca Foundation is $0 and their total compensation is $960,862.
Official website here: www.finseca.org/foundation/
What is the revenue of Finseca Foundation?
Finseca Foundation's revenue in 2022 was $681,465.
Official website here: www.finseca.org/foundation/
Who are the executives of Finseca Foundation and what are their salaries?
There 18 volunteers at Finseca Foundation.
Here are 17 key members and their salaries (Finseca Foundation's CEO's salary is $0 and their total compensation is $960,862):
- Compensation: $0
- Related: $665,237
- Other: $20,411
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- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $922,566
- Other: $38,296
Official website here: www.finseca.org/foundation/
Where can I find the form 990 for Finseca Foundation?
Finseca Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.finseca.org/foundation/
Learn more at the official website: www.finseca.org/foundation/
Mission Statement of Finseca Foundation
The Finseca Foundation, an organization dedicated to the field of life insurance and related financial services, is committed to fostering educational and research initiatives. Its mission is to inspire and support endeavors that aim to enhance the knowledge and skills in agency management within this sector. The foundation seeks to advance the art and science of agency management, contributing significantly to the development of this field. By providing educational and research resources, Finseca Foundation plays a crucial role in empowering professionals working in life insurance and related financial services, thereby promoting growth and progress in this domain.
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Impact
July, 2024
Finseca Foundation's impact is primarily focused on providing research and education materials to individuals in the life insurance and related financial services industry. By offering educational and research endeavors, the foundation aims to advance the art and science of agency management in this sector. Through its mission to encourage educational and research initiatives, Finseca Foundation plays a key role in enhancing the knowledge and expertise of professionals within life insurance and related financial services, ultimately benefiting the individuals and communities they serve.
This information is meant to be a general summary of Finseca Foundation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: -$5,846
- Program Service Revenue: $34,667
- Gross Receipts: $1,404,264
Assets and Liabilities:
- Total Assets: $2,907,709
- Total Liabilities: $279,690
- Net Assets: $2,628,019
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PRODUCT LICENSING
Revenue
$34,667
Organization Details
Founding Year
1990
Phone
(703) 641-9400Principal Officer
Marc Cadin
Main Address
600 13TH STREET NW 550, WASHINGTON, DC, 20005
Website
www.finseca.org/foundation/NTEE Category
Code: P20Z - Human services
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