FILENE RESEARCH INSTITUTE INC

EIN: 391645910 501(c)(3) Public & Societal Benefit

MADISON, WI

Total Revenue
$9,098,907
Total Expenses
$9,163,206
Total Assets
$15,454,499
Net Assets
$13,293,556
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Financial Trends

Organization Details

Formation Year
1989
Legal Domicile
WI
Principal Officer
MARK MEYER
Phone
6086613740
Tax Period
2023-07-01 to 2024-06-30

FILENE RESEARCH INSTITUTE INC, founded in 1989, is a community nonprofit in the Public & Societal Benefit sector that reported $9.1M in total revenue in fiscal year 2023. Revenue grew 11% year-over-year, indicating healthy expansion.

Mission

STRENGTHENING ORGANIZATIONS THROUGH INNOVATIVE RESEARCH & INCUBATION TO IMPROVE CONSUMER FINANCIAL WELL-BEING

Program Service Accomplishments

Program 1
Expenses: $4,535,476 Revenue: $481,222

RESEARCH AND INNOVATION - FILENE RESEARCH INSTITUTE SEEKS OUT HIGH PRIORITY RESEARCH QUESTIONS FOR THE BENEFIT OF CONSUMERS AND THE COOPERATIVE FINANCE MOVEMENT. THE INSTITUTE REGULARLY PUBLISHES...

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RESEARCH AND INNOVATION - FILENE RESEARCH INSTITUTE SEEKS OUT HIGH PRIORITY RESEARCH QUESTIONS FOR THE BENEFIT OF CONSUMERS AND THE COOPERATIVE FINANCE MOVEMENT. THE INSTITUTE REGULARLY PUBLISHES REPORTS AND OUTPUTS ON ITS RESEARCH FINDINGS INCLUDING PODCASTS, TOOLKITS, INFOGRAPHICS, AND SLIDE DECKS. FILENE PUBLISHED 21 RESEARCH AND INNOVATION REPORTS IN THE YEAR, AS WELL AS 17 OTHER RESEARCH AND INNOVATION OUTPUTS. ARTICLES SUMMARIZING THE RESEARCH ARE WIDELY DISTRIBUTED IN THE TRADE PRESS, SOCIAL MEDIA, GENERAL MEDIA AND IN PUBLICATIONS OF CREDIT UNION TRADE ORGANIZATIONS. THE ORGANIZATION ALSO REGULARLY SPEAKS ON ITS RESEARCH FINDINGS ACROSS NORTH AMERICA AS WELL AS PROVIDES RESEARCH INSIGHTS ON KEY CONSUMER FINANCE TOPICS AT INDUSTRY AND NONPROFIT CONFERENCES. FILENE'S INCUBATORS TAKE THE NEXT STEP IN INNOVATION BY TESTING PRODUCTS AND IDEAS TO HELP CREDIT UNIONS GROW AND MAKE A POSITIVE IMPACT ON THEIR MEMBERS AND COMMUNITIES. FILENE CURRENTLY HAS 4 INCUBATOR OFFERINGS AND TESTED 7 IN-MARKET PRODUCTS DURING THE PAST FISCAL YEAR.

Program 2
Expenses: $2,413,276 Revenue: $105,297

OUTREACH AND EDUCATION - FILENE PROVIDES MEMBERS AND STRATEGIC PARTNERS OPPORTUNITIES TO ENGAGE WITH OUR BODY OF WORK THROUGH OUR EVENTS AND COMMUNITIES. THIS YEAR OVER 1,501 CREDIT UNION AFFILIATED...

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OUTREACH AND EDUCATION - FILENE PROVIDES MEMBERS AND STRATEGIC PARTNERS OPPORTUNITIES TO ENGAGE WITH OUR BODY OF WORK THROUGH OUR EVENTS AND COMMUNITIES. THIS YEAR OVER 1,501 CREDIT UNION AFFILIATED INDIVIDUALS REGISTERED FOR ONE OF OUR EVENTS. WE ALSO HAD OVER 6188 REGISTER ACROSS 854 ORGANIZATIONS TO ATTEND ONE OF OUR 26 FILENE WEBINARS. OUR COMMUNITIES SUPPORTED 560 FUTURE LEADERS THROUGH THE COOPERATIVE TRUST AND 264 CRASHERS, WHERE PARTICIPANTS CAN ATTEND AN IN-PERSON EVENT OR PARTICIPATE IN OUR LEARNING COMMUNITY CRASH COURSE. FILENE ALSO CONTINUED I2, A PROGRAM FOR EMERGING TALENT WITH 2024 CLASS OF 25 PARTICIPANTS. IN ADDITION, OUR I3 PROGRAM WHICH PROVIDES INNOVATION TRAINING EXPANDED THE LEADERSHIP CAPACITY IN OVER 50 CREDIT UNIONS AND CREDIT UNION INDUSTRY PARTNER ORGANIZATIONS.

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Trantor Score

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $8,396,360
Program Service Revenue $586,519
Investment Income $80,028
Other Revenue $36,000
TOTAL REVENUE $9,098,907

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $1,170,379
Program Expenses $6,948,752
Other Expenses $9,163,206
TOTAL EXPENSES $9,163,206

Year-over-Year Comparison

2023 2022 Change
Revenue $9,098,907 $8,172,458 +0.1%
Expenses $9,163,206 $8,444,014 +0.1%
Net Income $-64,299 $-271,556 -0.8%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
9
Independent Members
9
Employees
N/A
Volunteers
10

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
5
$0
Total Directors
10
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
APRIL CLOBES CHAIR 1.00
Officer Director
$0 $0 $0
TY MUSE VICE-CHAIR 1.00
Officer Director
$0 $0 $0
KEVIN JOHNSON TREASURER 1.00
Officer Director
$0 $0 $0
KEITH SULTEMEIER DIRECTOR 1.00
Director
$0 $0 $0
MIKE SCHENK DIRECTOR 1.00
Director
$0 $0 $0
TONITA WEBB DIRECTOR 1.00
Director
$0 $0 $0
ROB PURTELL DIRECTOR (THRU AUGUST) 1.00
Director
$0 $0 $0
BILL CHENEY DIRECTOR 1.00
Director
$0 $0 $0
PATTY CAMPBELL DIRECTOR 1.00
Director
$0 $0 $0
LILY NEWFARMER DIRECTOR 1.00
Director
$0 $0 $0
MARK MEYER PRESIDENT & CHIEF EXECUTIVE OFFICER 60.00
Officer
$0 $0 $0
JEREMY TOLLEFSON DIR OF EXECUTIVE RELATIONS/SECRETARY 40.00
Officer
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 No data No data No data No data
2024 $9,098,907 $9,163,206 $15,454,499 $-64,299
2023 $8,172,458 $8,444,014 $15,248,471 $-271,556
2022 $8,184,489 $7,646,292 $14,627,615 $538,197
2021 $7,960,139 $7,418,239 $14,328,197 $541,900
2020 $10,102,854 $8,425,478 $14,025,616 $1,677,376
2019 $9,124,558 $7,649,620 $12,051,372 $1,474,938
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