2024-10-29T10:51:50-05:00 2024-06-30 390974031 WEGNER CPAS LLP 2921 LANDMARK PL STE 300 MADISON WI 537134236 990 2023-07-01 391645910 FILENE RESEARCH INSTITUTE INC FILE 6086613740 5910 MINERAL POINT ROAD MADISON WI 53705 MARK MEYER PRESIDENT & CHIEF EXECUTIVE OFFICER 6086613740 2024-10-28 1 0 JASON STEPHENS CPA P01263225 6082744020 2024-10-28 2023 2024-10-15 13:58:12Z MARK MEYER 5910 MINERAL POINT ROAD MADISON WI 53705 9496846 0 X FILENE.ORG X 1989 WI CONDUCT CUTTING-EDGE, ACTIONABLE RESEARCH TO ACCELERATE INSIGHTS AND TRANSFORM ORGANIZATIONS, PROVIDE ACCESS TO PROVEN INCUBATORS TO ACCELERATE INNOVATION AND REDUCE RISK IN TESTING NEW SOLUTIONS, AND DELIVER COMMUNITIES & EVENTS THAT CONNECT INNOVATIVE LEADERS AND SPARK INSIGHTS TO IMPACT. 9 9 0 10 0 0 7473926 8396360 540840 586519 97692 80028 60000 36000 8172458 9098907 0 0 0 0 0 0 0 0 1170379 8444014 9163206 8444014 9163206 -271556 -64299 15248471 15454499 2278852 2160943 12969619 13293556 X STRENGTHENING ORGANIZATIONS THROUGH INNOVATIVE RESEARCH & INCUBATION TO IMPROVE CONSUMER FINANCIAL WELL-BEING 0 0 4535476 0 481222 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. 2413276 0 105297 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. 6948752 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 50 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 9 9 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 AL AK AR CA CO CT FL GA HI IL KS KY ME MD MA MI MN MS MO NC NH NJ NM NY NV ND OH OK OR PA RI SC TN UT VA WA WV WI TX X PATSY STEWART 6086613754 5910 MINERAL POINT ROAD MADISON WI 53705 X APRIL CLOBES CHAIR 1.00 X X 0 0 0 TY MUSE VICE-CHAIR 1.00 X X 0 0 0 KEVIN JOHNSON TREASURER 1.00 X X 0 0 0 KEITH SULTEMEIER DIRECTOR 1.00 X 0 0 0 MIKE SCHENK DIRECTOR 1.00 X 0 0 0 TONITA WEBB DIRECTOR 1.00 X 0 0 0 ROB PURTELL DIRECTOR (THRU AUGUST) 1.00 X 0 0 0 BILL CHENEY DIRECTOR 1.00 X 0 0 0 PATTY CAMPBELL DIRECTOR 1.00 X 0 0 0 LILY NEWFARMER DIRECTOR 1.00 X 0 0 0 MARK MEYER PRESIDENT & CHIEF EXECUTIVE OFFICER 60.00 X 0 0 0 JEREMY TOLLEFSON DIR OF EXECUTIVE RELATIONS/SECRETARY 40.00 X 0 0 0 0 0 0 0 0 0 0 CMFG LIFE INSURANCE COMPANY 5910 MINERAL POINT RD MADISON WI 537054456 MANAGEMENT AND ADMINISTRATIVE SERVICES 6267864 INSIGHTS FIRST STRATEGIC MARKETING LLC 1556 MEYERWOOD CIRCLE HIGHLANDS RANCH CO 80129 CONSULTING SERVICES 200000 DOUG LEIGHTON 536 VENTURA AVE SAN MATEO CA 94403 CONSULTING SERVICES 137500 HARK CONNECT 11904 IH-35 N AUSTIN TX 78753 CONSULTING SERVICES 104526 4 2343340 6053020 8396360 RESEARCH AND INNOVATION 541700 481222 481222 OUTREACH AND EDUCATION 541700 105297 105297 586519 109878 109878 36000 0 36000 36000 36000 283089 85000 281975 115964 1114 -30964 -29850 -29850 9098907 586519 0 116028 X 19171 19171 60485 60485 8209 8209 6919490 5293428 717957 908105 76935 58804 562 17569 73980 17376 13020 43584 452003 313803 61982 76218 200454 122143 43073 35238 685561 583706 40161 61694 472825 449911 22914 138660 84461 29809 24390 14221 10069 1839 2313 41212 15051 24893 1268 9163206 6948752 1044075 1170379 37 37 4240916 4827042 7826671 8161923 232985 42719 97196 79895 632185 397051 365516 235134 1965330 1734426 298658 373323 221162 0 15248471 15454499 1666961 1804193 56823 109722 555068 247028 2278852 2160943 X 3846343 3871041 9123276 9422515 12969619 13293556 15248471 15454499 -64299 125736 262500 0 X 0 1 X 1 0 X 9302481 7298178 7493362 7473926 8396360 39964307 9302481 7298178 7493362 7473926 8396360 39964307 722456 39241851 90131 62755 56440 156659 145878 511863 40476170 3058642 0.96950 0.90240 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 12967 10981 1986 619218 386070 233148 235134 REFUNDABLE ADVANCE 247028 247028 9258526 125736 42092 -8209 159619 9098907 0 9098907 9197089 42092 42092 9154997 8209 8209 9163206 PART XI, LINE 2D - OTHER ADJUSTMENTS: INVESTMENT MANAGEMENT FEES REPORTED ON FORM 990, PART IX, LINE 11F -8,209. FORM 990, PART VI, SECTION A, LINE 3 THE INSTITUTE LEASES ITS EMPLOYEES, INCLUDING ITS PRESIDENT & CHIEF EXECUTIVE OFFICER, FROM CMFG LIFE INSURANCE COMPANY. THE CHIEF EXECUTIVE OFFICER PERFORMS MANAGEMENT DUTIES SUCH AS SUPERVISING PERSONNEL, PLANNING AND EXECUTING BUDGETS AND FINANCIAL OPERATIONS, AND SUPERVISING EXEMPT OPERATIONS. DURING CALENDAR YEAR 2023 THE CHIEF EXECUTIVE OFFICER RECEIVED $927,652 OF COMPENSATION AND $93,672 IN EMPLOYEE BENEFITS FROM CMFG LIFE INSURANCE COMPANY. DURING CALENDAR YEAR 2023 THE SECRETARY RECEIVED $137,632 OF COMPENSATION AND $41,094 IN EMPLOYEE BENEFITS FROM CMFG LIFE INSURANCE COMPANY. FORM 990, PART VI, SECTION B, LINE 11B THE PREPARED FORM 990 IS PROVIDED TO THE MEMBERS OF THE GOVERNING BODY BEFORE THE RETURN IS FILED WITH THE IRS. THE DISTRIBUTION OF THE DRAFT RETURN AND ANY REVISED RETURNS ARE BOTH CONDUCTED ELECTRONICALLY. FORM 990, PART VI, SECTION B, LINE 12C ALL MEMBERS OF THE INSTITUTE'S GOVERNING BODY EACH COMPLETE AND SIGN A CONFLICT OF INTEREST STATEMENT ON AN ANNUAL BASIS. THE STATEMENTS ARE REVIEWED BY THE GOVERNING BODY. A COPY OF EACH STATEMENT IS MAINTAINED BY THE INSTITUTE. THE INSTITUTE'S LEASED EMPLOYEES COMPLETE CMFG LIFE INSURANCE COMPANY'S CONFLICT OF INTEREST STATEMENT ELECTRONICALLY. FORM 990, PART VI, SECTION B, LINE 15A THE INSTITUTE'S GOVERNING BODY USES SEVERAL RESOURCES TO DETERMINE THE COMPENSATION OF THE PRESIDENT AND CHIEF EXECUTIVE OFFICER AND THE INSTITUTE'S LEASED EMPLOYEES INCLUDING CMFG LIFE INSURANCE COMPANY'S COMPENSATION EXPERTS, COMPENSATION AND BENEFITS SURVEYS FROM SPECIALIST THIRD-PARTY HR PROVIDERS, RESOURCES WITHIN THE CREDIT UNION SYSTEM AND WITHIN THE ORGANIZATIONS/NETWORKS OF THE MEMBERS OF THE GOVERNING BODY, INDUSTRY DATA POINTS, AND THE GUIDESTAR NONPROFIT COMPENSATION REPORT AND OTHER INFORMATION ON NONPROFIT ORGANIZATIONS AVAILABLE THROUGH WWW.GUIDESTAR.ORG. FORM 990, PART VI, SECTION C, LINE 19 THE INSTITUTE PROVIDES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS TO THE GENERAL PUBLIC UPON WRITTEN REQUEST. FORM 990, PART IX, LINE 11G EMPLOYEE LEASING SERVICES: PROGRAM SERVICE EXPENSES 3,863,124. MANAGEMENT AND GENERAL EXPENSES 705,586. FUNDRAISING EXPENSES 887,580. TOTAL EXPENSES 5,456,290. CONSULTING/SUBCONTRACTOR SERVICES: PROGRAM SERVICE EXPENSES 967,641. MANAGEMENT AND GENERAL EXPENSES 12,244. FUNDRAISING EXPENSES 20,315. TOTAL EXPENSES 1,000,200. RESEARCH SERVICES: PROGRAM SERVICE EXPENSES 393,799. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 393,799. PUBLICATION SERVICES: PROGRAM SERVICE EXPENSES 17,465. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 17,465. REGISTRATION AND FILING FEES: PROGRAM SERVICE EXPENSES 14,264. MANAGEMENT AND GENERAL EXPENSES 127. FUNDRAISING EXPENSES 210. TOTAL EXPENSES 14,601. PRINTING: PROGRAM SERVICE EXPENSES 37,135. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 37,135.