Financial Communications Society
- Assets
- $722.4k
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 2
- Location
- Westfield, NJ
- Founding
- 06/1991
- Data as of
- 08/2023
- EIN
- 13-3599761
Organization Overview
Financial Communications Society is located in Westfield, NJ. The organization was established in 1991. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 08/2023, Financial Communications Society employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Financial Communications Society 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 08/2023, Financial Communications Society generated $1.3m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.2% each year. All expenses for the organization totaled $1.2m during the year ending 08/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Financial Communications Society has awarded 33 individual grants totaling $724,926. 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
TO PROVIDE PROGRAMS TO INFORM, EDUCATE AND INSPIRE PROFESSIONALS IN THE FINANCIAL COMMUNICATIONS MARKET.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEMBER EVENTS, INFORMATION AND FORUMS - THE ORGANIZATION HELD 33 EVENTS TO PROVIDE INFORMATION REGARDING FINANCIAL COMMUNICATIONS POLICIES AND PRACTICES. THESE WERE ATTENDED BY 2,150 PARTICIPANTS DURING BREAKFASTS, LUNCHES, DINNERS AND OTHER EVENTS, INCLUDING VIRTUAL EVENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tim Hart Chair | OfficerTrustee | 3 | $0 |
Tom Jago Vice Chair | OfficerTrustee | 3 | $0 |
Katherine Divney Treasurer | OfficerTrustee | 3 | $0 |
Brent Buntin Director | Trustee | 1 | $0 |
Damon Webber Director | Trustee | 1 | $0 |
Etienne Katz Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Core Z Operations Llc Contractor | 8/30/23 | $179,105 |
Mckeon Productions Contractor | 8/30/23 | $133,550 |
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 | $307,741 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $307,741 |
| Total Program Service Revenue | $961,135 |
| Investment income | $15 |
| 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 | $1,268,891 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $90,300 |
| 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. | $130,000 |
| Compensation of current officers, directors, key employees. | $13,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $51,659 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $54,045 |
| Payroll taxes | $17,518 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $16,583 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $5,826 |
| Office expenses | $2,462 |
| Information technology | $19,228 |
| Royalties | $0 |
| Occupancy | $259,749 |
| Travel | $660 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $29,215 |
| Insurance | $188 |
| All other expenses | $5,431 |
| Total functional expenses | $1,176,691 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $444,804 |
| Savings and temporary cash investments | $74,957 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $85,745 |
| 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 | $58,488 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $58,430 |
| Other assets | $0 |
| Total assets | $722,424 |
| Accounts payable and accrued expenses | $19,721 |
| Grants payable | $0 |
| Deferred revenue | $3,395 |
| 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 | $23,116 |
| Net assets without donor restrictions | $699,308 |
| 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 | $722,424 |
Grants Awarded
Over the last fiscal year, Financial Communications Society has awarded $63,800 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
HOPE & HEROES PURPOSE: TO SUPPORT THE ORGANIZATION'S MISSION. | $21,800 |
MAKE A WISH FOUNDATION PURPOSE: TO SUPPORT THE ORGANIZATION'S MISSION. | $19,000 |
DOWNEY SIDE PURPOSE: TO SUPPORT THE ORGANIZATION'S MISSION. | $23,000 |