Us Faster Payments Council Inc
- Assets
- $1.3m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Clarksburg, MD
- Founding
- Data as of
- 12/2021
- EIN
- 83-2399912
Organization Overview
Us Faster Payments Council Inc is located in Clarksburg, MD. According to its NTEE Classification (U99) the organization is classified as: Science & Technology N.E.C., under the broad grouping of Science & Technology and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Us Faster Payments Council 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 12/2021, Us Faster Payments Council Inc generated $1.5m in total revenue. This represents relatively stable growth, over the past 3 years the organization has increased revenue by an average of 1.2% each year. All expenses for the organization totaled $1.3m during the year ending 12/2021. While expenses have increased by 4.0% per year over the past 3 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE FASTER PAYMENTS COUNCIL (FPC) IS AN INDUSTRY-LED MEMBERSHIP ORGANIZATION WHOSE MISSION IS TO FACILITATE A WORLD-CLASS PAYMENT SYSTEM WHERE EVERY PERSON OR ORGANIZATION CAN SAFELY AND SECURELY PAY ANYONE, ANYWHERE, AT ANY TIME AND WITH NEAR-IMMEDIATE FUNDS AVAILABILITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RAISING INDUSTRY AND CONSUMER AWARENESS, FORMULATING A PLAN TO GARNER A DIVERSE POPULATION OF MEMBERS FROM ACROSS ALL AREAS OF US PAYMENTS INDUSTRY AND DEVELOPING A SAFE FORUM FOR DIALOGUE GOVERNED BY STRONG ANTITRUST GUARD RAILS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mike Bilski Chair | OfficerTrustee | 1 | $0 |
Perry Starr Secretary/tr | OfficerTrustee | 1.5 | $0 |
Deborah Phillips Vice Chair | OfficerTrustee | 1.5 | $0 |
Angela Hendershott Director-Ope | Officer | 40 | $0 |
Elizabeth Grice Director-Mar | Officer | 40 | $0 |
Reed Luhtanen Executive Di | Officer | 40 | $0 |
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 | $1,488,042 |
| Investment income | $5,625 |
| 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 | $1,493,667 |
| 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. | $859,425 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $37,283 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $16,609 |
| Payroll taxes | $47,786 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $9,802 |
| Fees for services: Accounting | $44,675 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $21,600 |
| Advertising and promotion | $39,516 |
| Office expenses | $8,380 |
| Information technology | $14,320 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $5,669 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $289 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,157 |
| Insurance | $0 |
| All other expenses | $234,522 |
| Total functional expenses | $1,343,033 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $434,848 |
| Savings and temporary cash investments | $751,320 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $8,724 |
| 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 | $55,756 |
| Net Land, buildings, and equipment | $5,893 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,256,541 |
| Accounts payable and accrued expenses | $34,916 |
| Grants payable | $0 |
| Deferred revenue | $652,833 |
| 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 | $687,749 |
| Net assets without donor restrictions | $568,792 |
| 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 | $1,256,541 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
American Association For Laboratory Accreditation Frederick, MD | $14,574,609 | $21,308,917 |
Heart Rhythm Society Inc Washington, DC | $14,704,509 | $17,863,726 |
Corn Refiners Association Inc Washington, DC | $10,439,497 | $7,705,832 |
Zcash Foundation McLean, VA | $32,799,974 | $26,447,593 |
Institute For Womens Policy Research Washington, DC | $17,100,726 | $10,106,680 |
University Of Maryland Psychiatry Associates P A Baltimore, MD | $10,617,628 | $4,863,213 |
West Virginia University Innovation Corporation Morgantown, WV | $2,905,835 | $5,942,099 |
Health And Environmental Sciences Institute Washington, DC | $8,376,390 | $5,052,599 |
Board Of Certification Accreditation International Owings Mills, MD | $5,575,495 | $5,362,772 |
National Caregiving Foundation Dunkirk, MD | $1,366,084 | $4,115,754 |
Appraisal Foundation Washington, DC | $12,806,075 | $4,033,745 |
National Assn Of State Mentl Health Prog Directors Research Instit Inc Falls Church, VA | $3,898,243 | $2,738,734 |