Program On International Financial Systems Inc
- Assets
- $2.9m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 12
- Location
- Cambridge, MA
- Founding
- 07/2018
- Data as of
- 12/2021
- EIN
- 82-2586755
Organization Overview
Program On International Financial Systems Inc is located in Cambridge, MA. The organization was established in 2018. According to its NTEE Classification (B90) the organization is classified as: Educational Services, under the broad grouping of Education and related organizations. As of 12/2021, Program On International Financial Systems Inc employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Program On International Financial Systems Inc 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 12/2021, Program On International Financial Systems Inc generated $1.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (9.9%) each year. All expenses for the organization totaled $2.0m during the year ending 12/2021. 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 PROGRAM ON INTERNATIONAL FINANCIAL SYSTEMS (PIFS) IS A 501(C)(3) ORGANIZATION THAT HOSTS INTERNATIONAL SYMPOSIA, EXECUTIVE EDUCATION PROGRAMS AND SPECIAL EVENTS THAT FOSTER DIALOGUE AND PROMOTE EDUCATION ON ISSUES AFFECTING THE GLOBAL FINANCIAL SYSTEM. PIFS ALSO SUPPORTS ACADEMIC SCHOLARSHIP ON THESE ISSUES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PROGRAM ON INTERNATIONAL FINANCIAL SYSTEMS (PIFS) IS A 501(C)(3) ORGANIZATION THAT HOSTS INTERNATIONAL SYMPOSIA, EXECUTIVE EDUCATION PROGRAMS AND SPECIAL EVENTS THAT FOSTER DIALOGUE AND PROMOTE EDUCATION ON ISSUES IMPACTING THE GLOBAL FINANCIAL SYSTEM. PIFS ALSO SUPPORTS ACADEMIC SCHOLARSHIP ON THESE ISSUES. IN 2021, PIFS HOSTED THREE SYMPOSIA WITH EUROPE, CHINA AND JAPAN. EACH EVENT INCLUDED APPROXIMATELY 100 SENIOR POLICYMAKERS, FINANCIAL SECTOR EXECUTIVES, AND PROMINENT ACADEMICS TO FOSTER DIALOGUE ON POLICY ISSUES IMPACTING THE GLOBAL FINANCIAL SYSTEM. PIFS HOSTED SEVEN EXECUTIVE EDUCATION PROGRAMS FOR GOVERNMENT OFFICIALS FROM FOREIGN COUNTRIES, INCLUDING TWO PARTNERSHIPS WITH THE INTERNATIONAL ORGANIZATION OF SECURITIES COMMISSIONS (IOSCO) AND ONE PARTNERSHIP WITH HARVARD LAW SCHOOL EXECUTIVE EDUCATION. PIFS ALSO HOSTED SPECIAL EVENTS ON DISCRETE POLICY ISSUES, INCLUDING EVENTS ON "CENTRAL BANK PERSPECTIVES ON CENTRAL BANK DIGITAL CURRENCIES AND "THE IMPLICATIONS OF THE U.S. ELECTIONS FOR FINANCIAL SERVICES".
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Hal S Scott President/director | OfficerTrustee | 30 | $575,000 |
John A Gulliver Executive Director | Officer | 30 | $342,909 |
Whitney Vasey Director Of Events | 40 | $161,500 | |
Megan Vasios Deputy Director | 25 | $102,132 | |
Cristina Leone Treasurer/cfo | Officer | 24 | $80,000 |
Jacqueline Mccabe Secretary | Officer | 20 | $70,000 |
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 | $1,261,650 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,261,650 |
| Total Program Service Revenue | $331,173 |
| Investment income | $21,299 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $7,762 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,623,311 |
| 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. | $1,077,593 |
| Compensation of current officers, directors, key employees. | $237,024 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $415,410 |
| Pension plan accruals and contributions | $11,527 |
| Other employee benefits | $33,352 |
| Payroll taxes | $83,883 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $38,453 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $5,451 |
| Fees for services: Other | $164,444 |
| Advertising and promotion | $1,701 |
| Office expenses | $18,667 |
| Information technology | $15,400 |
| Royalties | $0 |
| Occupancy | $57,856 |
| Travel | $6,644 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $63,663 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,445 |
| Insurance | $7,894 |
| All other expenses | $0 |
| Total functional expenses | $2,044,431 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $182,577 |
| Savings and temporary cash investments | $628,425 |
| Pledges and grants receivable | $342,500 |
| Accounts receivable, net | $54,984 |
| 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 | $164,905 |
| Net Land, buildings, and equipment | $23,102 |
| Investments—publicly traded securities | $1,530,338 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,926,831 |
| Accounts payable and accrued expenses | $110,824 |
| Grants payable | $0 |
| Deferred revenue | $9,845 |
| 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 | $120,669 |
| Net assets without donor restrictions | $2,389,601 |
| Net assets with donor restrictions | $416,561 |
| 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 | $2,926,831 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Program On International Financial Systems Inc has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
Bpi Foundation Washington, DC PURPOSE: 2021 EU-US Symposium | $10,000 |
Endowment Analysis
| Net Contributions | $40,000 |
| Ending Balance | $40,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Transcend Inc Hastingsonhudson, NY | $40,245,682 | $36,384,149 |
The Baruch College Fund New York, NY | $295,690,612 | $67,294,185 |
S&p Global Foundation New York, NY | $10,276,249 | $7,071,664 |
Workforce Outsource Services Inc Uniondale, NY | $10,340,814 | $13,464,902 |
North Star Academy Foundation Inc New York, NY | $177,913,521 | $11,304,915 |
Hyde Leadership Charter School-Brooklyn Brooklyn, NY | $3,932,564 | $12,878,236 |
Teach Plus Incorporated Boston, MA | $12,001,505 | $12,042,496 |
Onward Israel Internships And Opportunities Ltd New York, NY | $897,895 | $11,379,184 |
Goodwin College Educational Services Inc East Hartford, CT | $19,577 | $10,789,035 |
Education Resource Strategies Inc Watertown, MA | $16,861,900 | $10,099,352 |
Entrepreneurial Ventures In Education Quincy, MA | $4,865,485 | $11,072,937 |
Learning Through An Expanded Arts Program Inc New York, NY | $2,991,832 | $9,986,466 |