Association For Financial Professionals Inc
- Assets
- $30.1m
- Revenue
- $15.1m
- Investments
- $16.9m
- Employees
- 69
- Location
- Bethesda, MD
- Founding
- 12/1981
- Data as of
- 06/2021
- EIN
- 58-1424769
Organization Overview
Association For Financial Professionals Inc is located in Bethesda, MD. The organization was established in 1981. 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 06/2021, Association For Financial Professionals Inc employed 69 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Association For Financial Professionals Inc 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 06/2021, Association For Financial Professionals Inc generated $15.1m 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 $17.4m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (4.9%) per year over the past 6 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
THE PROFESSIONAL SOCIETY THAT REPRESENTS FINANCE EXECUTIVES GLOBALLY. THE ASSOCIATION ESTABLISHED AND ADMINIST- ERS THE CERTIFIED TREASURY PROFESSIONALS AND (CONTINUED ON SCHEDULE O)
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROFESSIONAL DEVELOPMENT: INCLUDES CERTIFICATION AND EDUCATION. THE CERTIFIED TREASURY PROFESSIONAL (CTP) EXAM WAS ADMINISTERED TO APPROXIMATELY 1500 CANDIDATES AND 500 CERTIFIED CORPORATE FINANCIAL PLANNING AND ANALYSIS (FP&A) EXAM PARTS WERE DELIVERED. IN ADDITION, APPROXIMATELY 2400 CTPS, WHO MET THE REQUIREMENT FOR CONTINUING PROFESSIONAL EDUCATION CREDITS OVER A THREE-YEAR PERIOD, WERE RECERTIFIED. EDUCATION: CONDUCTED WORKSHOPS, WEBINARS AND SEMINARS ON A VARIETY OF TOPICS IN CORPORATE FINANCE.
ANNUAL CONFERENCE: PREMIER NETWORKING AND EDUCATIONAL EVENT INCLUDING MORE THAN 130 WORKSHOPS, PEER REVIEWED LECTURES, AND PRESENTATIONS ON CORPORATE FINANCIAL MANAGEMENT TOPICS SUCH AS TREASURY AND CASH, BANK RELATIONSHIPS, LIQUIDITY, WORKING CAPITAL, PAYMENTS, FINANCIAL PLANNING AND ANALYSIS, AND PENSION AND EMPLOYEE PLANS. ATTENDANCE AT THE VIRTUAL ONLY CONFERENCE WAS APPROXIMATELY 3,400 CORPORATE PRACTICIONERS, ASSOCIATES, AND ACADEMICS.
COMMUNICATIONS: PUBLISHED MONTHLY NEWSLETTERS AND FOUR ISSUES OF EXCHANGE MAGAZINE WITH TOPICS COVERING ECONOMICS, CORPORATE PAYMENTS, RISK AND FINANCIAL MANAGEMENT, CAREER DEVELOPMENT, AND LEGAL AND REGULATORY DEVELOPMENTS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Kaitz President, CEO | Officer | 50 | $1,773,281 |
Himashi Soriano Director - Apac | 40 | $384,666 | |
Patrick Culkin Executive VP | Officer | 50 | $318,098 |
Jeff Glenzer Executive Vp, COO | Officer | 50 | $316,404 |
Kevin Boyle Dir - Access Sales | 40 | $223,084 | |
Melissa Rawak Md - Membership, Mktg, Events | Officer | 50 | $217,352 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
O'keefe Communications Event Production | 6/29/21 | $170,362 |
The Caviart Group Llc Test Development | 6/29/21 | $158,844 |
Luke Miller Educational Inst | 6/29/21 | $138,000 |
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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $13,416,949 |
| Investment income | $414,929 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,237,284 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $15,069,162 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,000 |
| 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. | $3,972,589 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,311,217 |
| Pension plan accruals and contributions | $212,558 |
| Other employee benefits | $332,647 |
| Payroll taxes | $436,210 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $37,575 |
| Fees for services: Accounting | $94,985 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $56,912 |
| Fees for services: Other | $1,986,244 |
| Advertising and promotion | $293,436 |
| Office expenses | $221,732 |
| Information technology | $1,325,253 |
| Royalties | $0 |
| Occupancy | $1,015,173 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $8,766 |
| Conferences, conventions, and meetings | $1,690,702 |
| Interest | $10,011 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $931,293 |
| Insurance | $133,191 |
| All other expenses | $0 |
| Total functional expenses | $17,434,397 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $6,433,753 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $190,126 |
| 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 | $731,568 |
| Net Land, buildings, and equipment | $1,178,228 |
| Investments—publicly traded securities | $953,420 |
| Investments—other securities | $16,926,429 |
| Investments—program-related | $0 |
| Intangible assets | $921,199 |
| Other assets | $2,799,412 |
| Total assets | $30,134,135 |
| Accounts payable and accrued expenses | $2,510,797 |
| Grants payable | $0 |
| Deferred revenue | $7,480,180 |
| 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 | $1,367,580 |
| Other liabilities | $3,790,990 |
| Total liabilities | $15,149,547 |
| Net assets without donor restrictions | $14,984,588 |
| 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 | $30,134,135 |
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