The Foundation Of Accounting And Financial Womens Alliance
- Assets
- $203.9k
- Revenue
- $51.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Lexington, KY
- Founding
- 04/2006
- Data as of
- 06/2023
- EIN
- 20-1424537
Organization Overview
The Foundation Of Accounting And Financial Womens Alliance is located in Lexington, KY. The organization was established in 2006. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Foundation Of Accounting And Financial Womens Alliance 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, Foundation Of Accounting And Financial Womens Alliance generated $51.6k 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 (3.9%) each year. All expenses for the organization totaled $52.1k during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (3.3%) 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
TO PROVIDE SCHOLARSHIPS AND PROMOTE AND ADVANCE EDUCATION, CAREER DEVELOPMENT, AND LEADERSHIP IN FINANCE AND ACCOUNTING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS - THE FOUNDATION OF ACCOUNTING AND FINANCIAL WOMEN'S ALLIANCE OFFERS A SERIES OF SCHOLARSHIP PROGRAMS TO SUPPORT ITS MEMBERS' EDUCATIONAL ADVANCEMENT. YOUNG AND PROMISING STUDENTS AT THE UNDERGRADUATE AND GRADUATE LEVELS ALSO BENEFIT FROM THE SCHOLARSHIP PROGRAMS EVERY YEAR. SOME OF OUR NATIONAL PARTNERS WORK WITH US IN DEVELOPING, FUNDING AND PROMOTING THE SCHOLARSHIP PROGRAM. THE CRITERIA USED TO SELECT WINNERS VARY BY SCHOLARSHIP. DONORS RECEIVE VAST RECOGNITION THROUGH THE AFWA WEBSITE AND IN AFWA COMMUNICATIONS. CURRENT CO-BRANDED SCHOLARSHIP PARTNERS INCLUDE SURGENT AND WILEY CPA EXCEL.
IN-KIND CONTRIBUTIONS CONSIST OF TRAVEL, HOTEL, AND RESTAURANT DONATIONS. THE ITEMS ARE VALUED AT FAIR MARKET VALUE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Melissa Sagar Chair | OfficerTrustee | 8 | $0 |
Wendi Hall CPA Iar Chair Elect | OfficerTrustee | 5 | $0 |
Stacey Craig CPA Imm Past Chair | OfficerTrustee | 2 | $0 |
Sara Page CPA Vice Chair | OfficerTrustee | 3 | $0 |
Alanna Abreu Treasurer | OfficerTrustee | 3 | $0 |
Katharine Dill Secretary | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $28,180 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $32,891 |
| Noncash contributions included in lines 1a–1f | $8,836 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $61,071 |
| Total Program Service Revenue | $0 |
| Investment income | $1,187 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$10,636 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $51,622 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $15,500 |
| 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 | $15,589 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,015 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $2,177 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,498 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $52,062 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $163,247 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,100 |
| 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 | $315 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $37,215 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $203,877 |
| Accounts payable and accrued expenses | $7,198 |
| 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 | $5,656 |
| Total liabilities | $12,854 |
| Net assets without donor restrictions | $166,990 |
| Net assets with donor restrictions | $24,033 |
| 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 | $203,877 |