American Fintech Council
- Assets
- $441.8k
- Revenue
- $2.3m
- Investments
- $0.0
- Employees
- 4
- Location
- Washington, DC
- Founding
- 05/2019
- Data as of
- 12/2022
- EIN
- 81-3819306
Organization Overview
American Fintech Council is located in Washington, DC. The organization was established in 2019. 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 12/2022, American Fintech Council employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. American Fintech Council 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 12/2022, American Fintech Council generated $2.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 47.5% each year . All expenses for the organization totaled $2.0m during the year ending 12/2022. While expenses have increased by 48.7% per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
FOSTERS RESPONSIBLE INNOVATION AND SOUND PUBLIC POLICY IN FINANCIAL TECHNOLOGY
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MISSION OF AFC IS TO PROMOTE A TRANSPARENT, EFFICIENT, AND CUSTOMER-FRIENDLY FINANCIAL SYSTEM BY SUPPORTING THE RESPONSIBLE GROWTH OF FINANCIAL TECHNOLOGY, FOSTERING INNOVATION IN FINANCIAL TECHNOLOGY, AND ENCOURAGING SOUND PUBLIC POLICY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Y Phillip Goldfeder Chair Of The Board | OfficerTrustee | 1 | $0 |
Ulrico Izaguirre Director | Trustee | 1 | $0 |
Armen Meyer Director | Trustee | 1 | $0 |
Frank Borchert III Director | Trustee | 1 | $0 |
Ezra Garrett Director | Trustee | 1 | $0 |
Martha Oberle O'malley Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Fs Vector Llc Consulting | 12/30/21 | $266,250 |
Subject Matter Outside Lobbying | 12/30/21 | $150,000 |
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 | $2,276,540 |
| Investment income | $0 |
| 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 | $2,276,540 |
| 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. | $1,285,834 |
| 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 | $65,206 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $138,151 |
| Fees for services: Accounting | $39,950 |
| Fees for services: Lobbying | $159,869 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $52,582 |
| Advertising and promotion | $1,017 |
| Office expenses | $16,315 |
| Information technology | $12,000 |
| Royalties | $0 |
| Occupancy | $152,345 |
| Travel | $20,537 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $18,838 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,508 |
| Insurance | $25,075 |
| All other expenses | $45 |
| Total functional expenses | $2,030,895 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $206,283 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $162,083 |
| 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 | $13,863 |
| Net Land, buildings, and equipment | $19,569 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $40,000 |
| Total assets | $441,798 |
| Accounts payable and accrued expenses | $1,202 |
| Grants payable | $0 |
| Deferred revenue | $392,916 |
| 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 | $394,118 |
| Net assets without donor restrictions | $47,680 |
| 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 | $441,798 |