Closed-End Fund Association
- Assets
- $13.8k
- Revenue
- $241.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Kansas City, MO
- Founding
- 07/1998
- Data as of
- 06/2023
- EIN
- 04-3403082
Organization Overview
Closed-End Fund Association is located in Kansas City, MO. The organization was established in 1998. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Closed-End Fund Association is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 06/2023, Closed-End Fund Association generated $241.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (7.0%) each year. All expenses for the organization totaled $256.5k during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (5.8%) per year over the past 8 years. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
CLOSED END FUND ASSOCIATION IS COMMITTED TO EDUCATING THE INVESTING PUBLIC ABOUT THE MANY BENEFITS OF CLOSED END FUND PRODUCTS AND TO PROVIDE A RESOURCE FOR INFORMATION ABOUT ITS MEMBERS AND THEIR OFFERINGS
Describe the Organization's Program Activity:
Part 3 - Line 4a
FOCUS ON CLOSED-END FUND INVESTING ISSUES AND PROMOTION OF BENEFITS OF CLOSED-END FUND INVESTING THROUGH EDUCATION, RESEARCH STUDIES AND ENHANCED DATA REPORTING
THROUGH CONFERENCES AND SEMINARS INDIVIDUALS IN THE CLOSED-END FUND INDUUSTRY ARE PROVIDED A FORUM TO COMMUNICATE, ENHANCE BUSINESS RELATIONSHIPS AND INCREASE KNOWLEDGE OF RELEVANT INDUSTRY ISSUES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rennie Mcconnochie Board President | OfficerTrustee | 3 | $0 |
Jonathan Morgan Board Treasurer | OfficerTrustee | 2 | $0 |
Jonathan Isaac Member At Large | Trustee | 1 | $0 |
Jeff Keele Member At Large | Trustee | 1 | $0 |
Christopher Larsen Member At Large | Trustee | 1 | $0 |
Sue Batina Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $239,043 |
| Investment income | $18 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $240,964 |
| 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 | $180,000 |
| Fees for services: Legal | $3,075 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,128 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $39,875 |
| Royalties | $0 |
| Occupancy | $20,700 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $1,249 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $100 |
| Total functional expenses | $256,527 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,550 |
| Savings and temporary cash investments | $12,264 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $13,814 |
| Accounts payable and accrued expenses | $73,671 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Total liabilities | $73,671 |
| Net assets without donor restrictions | -$59,857 |
| Net assets with donor restrictions | $0 |
| 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 | $13,814 |