Filene Research Institute Inc
- Assets
- $15.5m
- Revenue
- $9.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Madison, WI
- Founding
- 08/1990
- Data as of
- 06/2024
- EIN
- 39-1645910
Organization Overview
Filene Research Institute Inc is located in Madison, WI. The organization was established in 1990. According to its NTEE Classification (W60) the organization is classified as: Financial Institutions, under the broad grouping of Public & Societal Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Filene Research Institute Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2024, Filene Research Institute Inc generated $9.1m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 1.3% each year. All expenses for the organization totaled $9.2m during the year ending 06/2024. While expenses have increased by 6.2% per year over the past 9 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2024
Describe the Organization's Mission:
Part 3 - Line 1
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.
Describe the Organization's Program Activity:
Part 3 - Line 4a
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.
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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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
April Clobes Chair | OfficerTrustee | 1 | $0 |
Ty Muse Vice-Chair | OfficerTrustee | 1 | $0 |
Kevin Johnson Treasurer | OfficerTrustee | 1 | $0 |
Keith Sultemeier Director | Trustee | 1 | $0 |
Mike Schenk Director | Trustee | 1 | $0 |
Tonita Webb Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cmfg Life Insurance Company Management And Administrative Services | 6/29/24 | $6,267,864 |
Doug Leighton Consulting Services | 6/29/24 | $137,500 |
Insights First Strategic Marketing Llc Consulting Services | 6/29/24 | $200,000 |
Hark Connect Consulting Services | 6/29/24 | $104,526 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $2,343,340 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,053,020 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,396,360 |
| Total Program Service Revenue | $586,519 |
| Investment income | $109,878 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $36,000 |
| Net Gain/Loss on Asset Sales | -$29,850 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,098,907 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $19,171 |
| Fees for services: Accounting | $60,485 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $8,209 |
| Fees for services: Other | $6,919,490 |
| Advertising and promotion | $76,935 |
| Office expenses | $73,980 |
| Information technology | $452,003 |
| Royalties | $0 |
| Occupancy | $200,454 |
| Travel | $685,561 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $472,825 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $138,660 |
| Insurance | $14,221 |
| All other expenses | $41,212 |
| Total functional expenses | $9,163,206 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $37 |
| Savings and temporary cash investments | $4,827,042 |
| Pledges and grants receivable | $8,161,923 |
| Accounts receivable, net | $42,719 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $79,895 |
| Net Land, buildings, and equipment | $235,134 |
| Investments—publicly traded securities | $1,734,426 |
| Investments—other securities | $0 |
| Investments—program-related | $373,323 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $15,454,499 |
| Accounts payable and accrued expenses | $1,804,193 |
| Grants payable | $0 |
| Deferred revenue | $109,722 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $247,028 |
| Total liabilities | $2,160,943 |
| Net assets without donor restrictions | $3,871,041 |
| Net assets with donor restrictions | $9,422,515 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $15,454,499 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Filene Research Institute Inc Madison, WI | $15,454,499 | $9,098,907 |
American Association Of Individual Investors Chicago, IL | $3,214,356 | $7,103,204 |
Midwestern University Foundation Downers Grove, IL | $93,580,538 | $2,272,539 |
Credit Unions Chartered In The State Of Michigan Grandville, MI | $0 | $2,473,769 |
Iowa Independent Bankers Des Moines, IA | $1,203,947 | $729,619 |
Nebraska Medical Education Fund Inc Tabor, IA | $851,265 | $151,777 |
Illinois Ventures For Community Action Springfield, IL | $1,775,904 | $197,111 |
Henry Strong Educational Foundation Po Box Chicago, IL | $14,620,410 | $655,702 |
Honest Foundation Bloomfield Hills, MI | $104,059 | $100,000 |
Northwest Wisconsin Business Development Corporation Spooner, WI | $4,208,028 | $100,601 |
Michigan Cra Association Belleville, MI | $164,573 | $0 |