FINSECA FOUNDATION

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1990

Legal Domicile

Principal Officer

MARC CADIN

Phone

7036419400

Tax Period

2024-01-01 to 2024-12-31

FINSECA FOUNDATION, founded in 1990, is a community nonprofit in the Human Services sector that reported $1.2M in total revenue in fiscal year 2024. Revenue surged 72% from the prior year, signaling strong growth momentum. Expenses of $1.1M left a modest 9% surplus.

Mission

THE MISSION OF FINSECA FOUNDATION IS TO ENCOURAGE EDUCATIONAL AND RESEARCH ENDEAVORS TO ADVANCE THE ART AND SCIENCE OF AGENCY MANAGEMENT IN LIFE INSURANCE AND RELATED FINANCIAL SERVICES.

Program Service Accomplishments

Program 1

Expenses: $441,811 Revenue: $59,498

RESEARCH: FINSECA FOUNDATION CONDUCTS AND PROVIDES RESEARCH TO HELP FINANCIAL SECURITY PROFESSIONALS BETTER SERVE THE NEEDS OF AMERICAN CONSUMERS SEEKING TO ACHIEVE FINANCIAL SECURITY. THE FOUNDATION ALSO PROVIDES RESOURCES FOR AMERICANS TO BECOME MORE FINANCIALLY EMPOWERED CONSUMERS OF FINANCIAL PRODUCTS AND SERVICES. FINALLY, THE FOUNDATION IS ADVANCING AND CHAMPIONING THE NEXT GENERATION OF FINANCIAL SECURITY PROFESSIONALS BY IDENTIFYING TOP TALENT FROM DIVERSE COMMUNITIES.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $953,376

Program Service Revenue $59,498

Investment Income $184,940

Other Revenue $-6,354

TOTAL REVENUE $1,191,460

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $379,387

Program Expenses $441,811

Other Expenses $1,087,060

TOTAL EXPENSES $1,087,060

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,191,460	$691,640	+0.7%
Expenses	$1,087,060	$624,507	+0.7%
Net Income	$104,400	$67,133	+0.6%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

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

$1,751,067

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
HOWARD SHARFMAN	CHAIR	5.00	Officer Director	$0	$0	$0
JOHN BUCSEK	IMMEDIATE PAST CHAIR	5.00	Officer Director	$0	$0	$0
SAMUEL L TERRAZZINO	TREASURER	5.00	Officer Director	$0	$0	$0
RYAN BECK	TRUSTEE	2.00	Director	$0	$0	$0
DAVIN BELL	TRUSTEE	2.00	Director	$0	$0	$0
JESSICA CICCARELLI	TRUSTEE	2.00	Director	$0	$0	$0
BRUCE DAVISON	TRUSTEE	2.00	Director	$0	$0	$0
JAMIE HEBETS	TRUSTEE	2.00	Director	$0	$0	$0
JAMES J PUCCI	TRUSTEE	2.00	Director	$0	$0	$0
MAURICE SPRINGER	TRUSTEE	2.00	Director	$0	$0	$0
MARC CADIN	CEO	2.00	Officer	$52,182	$57,276	$1,100,918
BONNIE GODSMAN	PRESIDENT	4.00	Officer	$61,522	$34,930	$650,149

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
2024	$1,191,460	$1,087,060	$3,519,945	$104,400
2023	$691,640	$624,507	$3,243,065	$67,133
2022	$681,465	$733,480	$2,907,709	$-52,015
2021	$2,011,061	$1,168,232	$3,647,363	$842,829
2020	$567,869	$2,547,155	$3,126,215	$-1,979,286
2019	$1,365,282	$1,221,055	$4,649,675	$144,227
2018	$1,043,490	$949,222	$4,615,340	$94,268