Media Financial Management Association
- Assets
- $572.1k
- Revenue
- $1.2m
- Investments
- $1.0k
- Employees
- 5
- Location
- Northfield, IL
- Founding
- 03/1991
- Data as of
- 09/2022
- EIN
- 13-1984011
Organization Overview
Media Financial Management Association is located in Northfield, IL. The organization was established in 1991. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. As of 09/2022, Media Financial Management Association employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Media Financial Management 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 09/2022, Media Financial Management Association generated $1.2m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.7%) each year. All expenses for the organization totaled $1.1m during the year ending 09/2022. As we would expect to see with falling revenues, expenses have declined by (1.0%) per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
MFM PROVIDES MEDIA AND ENTERTAINMENT INDUSTRY FINANCIAL PROFESSIONALS UNIQUE NETWORKING AND EDUCATIONAL OPPORTUNITIES AND MEDIA-SPECIFIC INFORMATION SERVICES TO ENHANCE THEIR PERSONAL CAPABILITIES AND CONTRIBUTE TO THEIR ORGANIZATIONS SUCCESS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AN ANNUAL CONVENTION OF MEMBERSHIP AND INDUSTRY PEOPLE- 249 PAID ATTENDEES AND 200 ADDITIONAL ATTENDEES COMPRISED OF SPEAKERS, SPONSORS, EXHIBITORS, AND GUESTS PARTICIPATED IN THE 2022 CONFERENCE, THE FIRST IN-PERSON CONFERENCE SINCE 2019 DUES TO COVID-19 RESTRICTIONS.
THE ASSOCIATION PRODUCES AND DISTRIBUTES A WEEKLY ELECTRONIC NEWSLETTER, MFM SMARTBRIEF, TO ALL MEMBERS OF THE ORGANIZATION. THE ASSOCIATION, ON CONJUNCTION WITH MEDIAVILLAGE, PRODUCES AND DISTRIBUTES A DIGITAL MAGAZINE, MFMINSITES.COM, TO ALL MEMBERS OF THE ORGANIZATION.
OTHER INDUSTRY AND MEMBERSHIP SERVICES: WEBINARS ON TOPICS RELATED SPECIFICALLY TO MEDIA AND ENTERTAINMENT INDUSTRY FINANCIAL PROFESSIONALS AND THAT OFFER CPE CREDITS; MEMBER NETWORKS ORGANIZED BY FINANCIAL DISCIPLINE AND INDUSTRY SECTOR THAT FACILITATE KNOWLEDGE SHARING AND INFORMATION EXCHANGES; REGIONAL MEETINGS ON INDUSTRY TRENDS AND FINANCE AND ACCOUNTING UPDATES; A MEMBERSHIP DIRECTORY TO FACILITATE NETWORKING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joseph Annotti President & CEO | OfficerTrustee | 40 | $149,436 |
David R Bochenek Chairman | OfficerTrustee | 0.5 | $0 |
Dave Bestler Vice Chair | OfficerTrustee | 0.5 | $0 |
Lori Locke Secretary | OfficerTrustee | 0.5 | $0 |
Marie Tedesco Treasurer | OfficerTrustee | 0.5 | $0 |
Melissa Mitchell Imed Past Chair | OfficerTrustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Broadcast Finance Inc Fin Consult & Conf Prog | 9/29/22 | $117,261 |
Meetings & Events Usa Meeting Planning | 9/29/22 | $110,538 |
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 | $1,108,702 |
| Investment income | $1 |
| 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 | $1,183,881 |
| 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. | $159,761 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $132,168 |
| Pension plan accruals and contributions | $7,547 |
| Other employee benefits | $0 |
| Payroll taxes | $24,392 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $16,703 |
| Fees for services: Accounting | $6,522 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $75,724 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $16,702 |
| Royalties | $0 |
| Occupancy | $19,747 |
| Travel | $11,881 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $394,235 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,095 |
| Insurance | $14,952 |
| All other expenses | $31,614 |
| Total functional expenses | $1,123,855 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $246,170 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $216,021 |
| 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 | $104,005 |
| Net Land, buildings, and equipment | $4,940 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,000 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $572,136 |
| Accounts payable and accrued expenses | $53,179 |
| Grants payable | $0 |
| Deferred revenue | $219,028 |
| 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 | $272,207 |
| Net assets without donor restrictions | $299,929 |
| 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 | $572,136 |