Construction Financial Management Association
- Assets
- $12.2m
- Revenue
- $8.4m
- Investments
- $6.0m
- Employees
- 27
- Location
- Princeton, NJ
- Founding
- 09/1986
- Data as of
- 03/2023
- EIN
- 22-2400462
Organization Overview
Construction Financial Management Association is located in Princeton, NJ. The organization was established in 1986. According to its NTEE Classification (U42) the organization is classified as: Engineering, under the broad grouping of Science & Technology and related organizations. As of 03/2023, Construction Financial Management Association employed 27 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes. Construction 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 03/2023, Construction Financial Management Association generated $8.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.7% each year. All expenses for the organization totaled $8.8m during the year ending 03/2023. While expenses have increased by 5.8% per year over the past 8 years. They've been increasing with an increasing level of total revenue. 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 DEVELOP AND COORDINATE EDUCATIONAL PROGRAMS DEDICATED TO THE PURPOSE OF IMPROVING THE PROFESSIONAL STANDARDS OF CONSTRUCTION FINANCIAL MANAGERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONFERENCES, CONVENTIONS & MEETINGS HELD FOR EDUCATIONAL PURPOSES TO UPDATE, INFORM & INSTRUCT FINANCIAL MANAGERS & THEIR EMPLOYEES IN THE CONSTRUCTION FINANCIAL MANAGEMENT INDUSTRY.
NEWSLETTERS, MAGAZINES, AND PROMOTIONAL MATERIALS TO ENHANCE PRIMARY GOALS LISTED IN (A) ABOVE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tom Borgia Chairman | OfficerTrustee | 1 | $0 |
Kevin Foley Ccifp Vice Chairman | OfficerTrustee | 1 | $0 |
Caryl Coronis CPA Ccifp Treasurer | OfficerTrustee | 1 | $0 |
Jason Myers CPA Secretary | OfficerTrustee | 1 | $0 |
Andrew Chapel Director | Trustee | 1 | $0 |
Steven Foster Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $3,771,406 |
| 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 | $3,771,406 |
| Total Program Service Revenue | $4,509,569 |
| Investment income | $184,067 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$194,587 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,360,398 |
| 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. | $727,969 |
| Compensation of current officers, directors, key employees. | $260,811 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,337,414 |
| Pension plan accruals and contributions | $102,194 |
| Other employee benefits | $306,799 |
| Payroll taxes | $224,300 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,652 |
| Fees for services: Accounting | $19,599 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $206,670 |
| Advertising and promotion | $153,341 |
| Office expenses | $219,896 |
| Information technology | $200,696 |
| Royalties | $0 |
| Occupancy | $196,631 |
| Travel | $140,282 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,191,981 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $108,430 |
| Insurance | $81,352 |
| All other expenses | $295,895 |
| Total functional expenses | $8,849,947 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,432,759 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $108,935 |
| 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 | $317,259 |
| Net Land, buildings, and equipment | $370,902 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $5,984,427 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,019,663 |
| Total assets | $12,233,945 |
| Accounts payable and accrued expenses | $1,044,288 |
| Grants payable | $0 |
| Deferred revenue | $4,843,230 |
| 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 | $930,220 |
| Total liabilities | $6,817,738 |
| Net assets without donor restrictions | $5,416,207 |
| 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 | $12,233,945 |