Finman Corporation
- Assets
- $3.9m
- Revenue
- $1.0m
- Investments
- $0.0
- Employees
- 6
- Location
- Tampa, FL
- Founding
- 06/1989
- Data as of
- 12/2021
- EIN
- 23-7177057
Organization Overview
Finman Corporation, operating under the name Financial Management Assoc International, is located in Tampa, FL. The organization was established in 1989. 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 12/2021, Financial Management Assoc International employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Financial Management Assoc International 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 12/2021, Financial Management Assoc International generated $1.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (4.1%) each year. All expenses for the organization totaled $1.2m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (3.8%) 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO DEVELOP AND DISSEMINATE KNOWLEDGE ABOUT FINANCIAL DECISION MAKING
Describe the Organization's Program Activity:
Part 3 - Line 4a
PUBLICATIONS - FMA PUBLISHED ONE REFEREED JOURNAL, FINANCIAL MANAGEMENT (QUARTERLY). THE GOAL OF THE JOURNAL IS TO EXTEND THE BODY OF KNOWLEDGE OF FINANCE.
MEETINGS - FMA HOSTS FOUR MEETINGS IN NORTH AMERICA, ONE IN EUROPE ONE IN ASIA AND ONE IN AN ADDITIONAL INTERNATIONAL LOCATION WHERE FORMAL RESEARCH PRESENTATIONS ARE GIVEN ALONG WITH A VARIETY OF PANEL DISCUSSIONS EACH YEAR. THE GOAL IS TO PROVIDE A FORUM FOR NEW AND UNPUBLISHED RESEARCH AND DISCOURSE ON CURRENT FINANCE TOPICS.
STUDENT CHAPTER PROGRAMS - ENCOURAGE AND REWARD SCHOLARSHIP AND ACCOMPLISHMENTS IN FINANCE AMONG COLLEGE STUDENTS. APPROXIMATELY 1,200 STUDENTS PARTICIPATED IN FMA NATIONAL HONOR SOCIETY AND OTHER PROGRAMS IN 2021.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michelle Lord Executive Director | Officer | 60 | $207,381 |
Ronald Masulis Immediate Past Pres | Officer | 1 | $0 |
Reena Aggarwal President Elect | Officer | 1 | $0 |
Robert Parrino President | Officer | 2 | $0 |
P Raghavendra Rau VP Program Elect | Officer | 1 | $0 |
Mara Faccio VP Program | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $94,307 |
| 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 | $94,307 |
| Total Program Service Revenue | $808,288 |
| Investment income | $89,097 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $3,025 |
| 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 | $1,000,447 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $5,500 |
| Grants and other assistance to Foreign Orgs/Individuals | $2,440 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $207,381 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $339,922 |
| Pension plan accruals and contributions | $53,224 |
| Other employee benefits | $23,114 |
| Payroll taxes | $38,888 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,393 |
| Fees for services: Accounting | $9,135 |
| 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 | $5,829 |
| Information technology | $15,519 |
| Royalties | $0 |
| Occupancy | $25,540 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $302,551 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $6,480 |
| All other expenses | $0 |
| Total functional expenses | $1,153,166 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $253,000 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $3,632,412 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,885,412 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| 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 | $3,885,412 |
| Total liabilities and net assets/fund balances | $3,885,412 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Finman Corporation has recieved totaling $5,500.
| Awarding Organization | Amount |
|---|---|
Association Of International Certified Professional Accountants Durham, NC PURPOSE: UNRESTRICTED SUPPORT OF THE ORGANIZATIONS MISSION | $5,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Gwinnett Convention And Visitors Bureau Inc Duluth, GA | $29,610,598 | $21,705,089 |
Icamr Inc Neocity, FL | $16,807,579 | $18,482,877 |
Nassau-Paradise Island Promotion Board Ltd Plantation, FL | $7,848,897 | $14,831,769 |
Asian American Hotel Owners Association Atlanta, GA | $22,232,306 | $14,292,123 |
Osceola Convention And Visitors Bureau Inc Kissimmee, FL | $12,721,814 | $18,220,107 |
Panama City Beach Convention And Vistors Bureau Inc Panama City Beach, FL | $6,910,172 | $13,906,597 |
Florida Reliability Coordinating Council Tampa, FL | $10,138,227 | $13,874,923 |
Midtown Business Association Inc Atlanta, GA | $4,952,556 | $10,845,776 |
Corenet Global Inc Atlanta, GA | $22,405,208 | $10,074,155 |
Visit Pensacola Inc Pensacola, FL | $2,535,965 | $7,930,486 |
Allinial Global Lawrenceville, GA | $3,508,006 | $7,173,344 |
The Florida Restaurant & Lodging Association Inc Tallahassee, FL | $14,927,226 | $6,472,755 |