Fwa Of New York Inc, operating under the name Financial Women's Association Of Ny, is located in New York, NY. The organization was established in 1982. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 06/2023, Financial Women's Association Of NY employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Financial Women's Association Of NY 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 06/2023, Financial Women's Association Of NY generated $755.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (7.0%) each year. All expenses for the organization totaled $1.1m during the year ending 06/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Financial Women's Association Of NY has awarded 14 individual grants totaling $868,817. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTE THE PROFESSIONAL DEVELOPMENT AND ADVANCEMENT OF ALL WOMEN THROUGH EDUCATION, MENTORSHIP, NETWORKING, ALLIANCES, AND ADVOCACY ACROSS THE FINANCIAL SECTOR.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATIONAL INITIATIVES/NEXT GENERATION PROGRAMS - SEE SCHEDULE OTHE FWA IS DEDICATED TO BUILDING THE NEXT GENERATION OF WOMEN IN LEADERSHIP IN FINANCE BY BUILDING A PIPELINE OF TALENTED YOUNG WOMEN INTERESTED IN AND READY FOR CAREERS IN FINANCE. OUR PROGRAMS, INCREASE ACCESS TO EDUCATION THROUGH COLLEGE READINESS, MENTORSHIP, LEADERSHIP PROFESSIONAL ACUMEN AND SKILLS DEVELOPMENT AND NETWORK BUILDING. THE FWA ALSO PROVIDES SIGNIFICANT FINANCIAL SUPPORT THROUGH SCHOLARSHIPS, STIPENDS AND STUDY ABROAD SUPPORT.KEY ACCOMPLISHMENTS AND STATS FOR THE FY23 FISCAL YEAR:FWA SCHOLARS PROGRAM-HIGH SCHOOL OF ECONOMICS AND FINANCE: GRADUATED 11 SENIORS ATTENDING COLLEGES/UNIVERSITIES.-23 FWA SCHOLARS ENROLLED AT 16 COLLEGES/UNIVERSITIES. FWA MENTORSHIP AND SCHOLARSHIP AT BARUCH COLLEGE-SUPPORTED 29 JUNIORS AND 20 SENIORS WITH FWA MENTORS, SCHOLARSHIPS AND STIPENDS. 10 STUDENTS WERE AWARDED STUDY ABROAD SCHOLARSHIPS.-200 GRADUATE STUDENTS RECEIVED ADVANCED SKILLS FINANCE TRAINING AND 15 GRADUATE STUDENTS RECEIVED STIPENDS. FWA MENTORSHIP AND SCHOLARSHIP AT SETON HALL UNIVERSITY, STILLMAN SCHOOL OF BUSINESS-SUPPORTED 30 STUDENTS WITH FWA MENTORS, SCHOLARSHIPSWALL STREET EXCHANGE FWA'S INTERNSHIP AUGMENTATION PROGRAM FOR RISING JUNIORS INTERNING IN FINANCE POSITIONS. THE PROGRAM ENGAGES PARTICIPANTS IN THE FWA MISSION AND PROVIDES WORKSHOPS IN PROFESSIONALISM, LEADERSHIP, AND CAREER MANAGEMENT TECHNIQUES.-82 STUDENTS FROM 54 COLLEGES/UNIVERSITIES INTERNING AT 20 COMPANIES.THE FWA PROVIDES ITS MEMBERS WITH A WIDE ARRAY OF PROFESSIONAL EDUCATION AND CAREER DEVELOPMENT PROGRAMS. THROUGH PARTICIPATING IN THESE ACTIVITIES, PROFESSIONALS ADVANCE THEIR LEADERSHIP SKILLS, INDUSTRY KNOWLEDGE AND BUILD THEIR PROFESSIONAL NETWORK. FWA PROGRAMS ACTIVELY HELP TO ACCELERATE THE SUCCESS OF ALL WOMEN IN THE FINANCIAL SECTOR. IN THE FY23 FISCAL YEAR THE FWA PRESENTED 55 EVENTS WITH A TOTAL ATTENDANCE OF 1,653 PEOPLE. CONTENT WAS DEVELOPED THROUGH OUR VIBRANT MEMBER PROGRAM COMMITTEES INCLUDING DIRECTORSHIP AND CORPORATE GOVERNANCE, EMERGING LEADERS, ENTREPRENEURS, FINTECH, FWA LONG ISLAND, FWA NEW JERSEY, GLOBAL AGENDA, INTERNATIONAL BUSINESS CONFERENCE, IMPACT INVESTING, MEN'S ALLIANCE, MEMBER2MEMBER MENTORSHIP, AND SIGNATURE EVENTS.THE FWA ALSO WORKS WITH CORPORATE PARTNERS TO IDENTIFY, SUPPORT AND DEVELOP HIGH POTENTIAL EMPLOYEES THROUGH OUR PROPRIETARY PACESETTERS PROGRAM. IN THE FY23 PROGRAM THE FWA SUPPORTED A DIVERSE COHORT OF 19 WOMEN FROM 12 FINANCIAL INSTITUTIONS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Hermina Nina Batson President | OfficerTrustee | 20 | $0 |
Annette Stewart President-Elect | OfficerTrustee | 15 | $0 |
Lauren Leipold Secretary | OfficerTrustee | 10 | $0 |
Madhumita Chakrabartti Treasurer | OfficerTrustee | 10 | $0 |
Kelsey Hopkins Acting Secretary | OfficerTrustee | 10 | $0 |
Simone Vinocour Immediate Past President | Trustee | 5 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $101,220 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $0 |
All other contributions, gifts, grants, and similar amounts not included above | $497,587 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $598,807 |
Total Program Service Revenue | $0 |
Investment income | $85,372 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | -$8,513 |
Net Income from Fundraising Events | $69,470 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $754,955 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $168,000 |
Grants and other assistance to domestic individuals. | $146,549 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $268,106 |
Compensation of current officers, directors, key employees. | $17,131 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $226,696 |
Pension plan accruals and contributions | $12,721 |
Other employee benefits | $18,179 |
Payroll taxes | $35,576 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $93,025 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $21,570 |
Fees for services: Other | $32,879 |
Advertising and promotion | $0 |
Office expenses | $27,971 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $2,801 |
Travel | $2,971 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $53,627 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $0 |
Insurance | $10,597 |
All other expenses | $1,353 |
Total functional expenses | $1,123,402 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $262,670 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $16,315 |
Accounts receivable, net | $13,365 |
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 | $13,819 |
Net Land, buildings, and equipment | $0 |
Investments—publicly traded securities | $3,990,833 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $4,297,002 |
Accounts payable and accrued expenses | $50,853 |
Grants payable | $0 |
Deferred revenue | $149,359 |
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 | $200,212 |
Net assets without donor restrictions | $3,853,852 |
Net assets with donor restrictions | $242,938 |
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 | $4,297,002 |
Over the last fiscal year, Fwa Of New York Inc has awarded $168,000 in support to 2 organizations.
Grant Recipient | Amount |
---|---|
BARUCH COLLEGE FUND PURPOSE: UNDERGRADUATE MENTORING, PROFESSIONAL DEVELOPMENT PROGRAMS AND STUDY ABROAD SCHOLARSHIPS, FOR FWA MENTEES | $138,000 |
SETON HALL UNIVERSITY PURPOSE: UNDERGRADUATE SCHOLARSHIPS FOR FWA MENTEES | $30,000 |