Civic Intelligence

Secured Finance Foundation

990 • Fiscal year 2014 • EIN 13-3577148

Oct 01, 2013 to Sep 30, 2014 • Filed on Feb 16, 2015

370 7th Avenue No 1801New York, NY 10001

(212) 792-9390

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

97th percentile

0.65x

Higher debt load relative to assets than 97% of similar nonprofits.

2014 filings • NTEE T • $500k-$1M nonprofits • Source year 2014

Liabilities / Revenue

97th percentile

0.76x

Higher debt load relative to revenue than 97% of similar nonprofits.

2014 filings • NTEE T • $500k-$1M nonprofits • Source year 2014

Net Margin

28th percentile

-27%

Higher net margin than 28% of similar nonprofits.

2014 filings • NTEE T • $500k-$1M nonprofits • Source year 2014

Top Officer Pay

99th percentile

$334,231

Higher top officer pay than 99% of similar nonprofits.

Top officer pay equals 86.7% of source-year revenue.

2014 filings • NTEE T • $500k-$1M nonprofits • Source year 2014

Asset Growth

3rd percentile

-37%

Faster asset growth than 3% of similar nonprofits.

2014 filings • NTEE T • $500k-$1M nonprofits • Annualized from 2013 to 2014

Revenue Growth

64th percentile

33%

Faster revenue growth than 64% of similar nonprofits.

2014 filings • NTEE T • $500k-$1M nonprofits • Annualized from 2013 to 2014

Assets

Down

$454,326

Down $266,639 (-37%) from 2013

Net Assets

Down

$160,663

Down $112,522 (-41%) from 2013

Liabilities

Down

$293,663

Down $154,117 (-34%) from 2013

Revenue

Up

$385,508

Up $94,840 (+33%) from 2013

Expenses

Up

$488,889

Up $98,064 (+25%) from 2013

Net Income

Down

-$103,381

Down $3,224 (-3.2%) from 2013

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$1.0M$500K$0Assets 2011: $526,833Liabilities 2011: $100,619Net Assets 2011: $426,2142011Assets 2012: $629,322Liabilities 2012: $273,624Net Assets 2012: $355,6982012Assets 2013: $720,965Liabilities 2013: $447,780Net Assets 2013: $273,1852013Assets 2014: $454,326Liabilities 2014: $293,663Net Assets 2014: $160,6632014Assets 2015: $402,493Liabilities 2015: $379,516Net Assets 2015: $22,9772015Assets 2016: $434,041Liabilities 2016: $374,069Net Assets 2016: $59,9722016Assets 2017: $708,653Liabilities 2017: $521,197Net Assets 2017: $187,4562017Assets 2018: $873,634Liabilities 2018: $700,580Net Assets 2018: $173,0542018Assets 2019: $717,489Liabilities 2019: $645,260Net Assets 2019: $72,2292019Assets 2020: $548,155Liabilities 2020: $527,913Net Assets 2020: $20,2422020Assets 2021: $604,440Liabilities 2021: $472,265Net Assets 2021: $132,1752021Assets 2022: $534,017Liabilities 2022: $323,942Net Assets 2022: $210,0752022Assets 2023: $541,424Liabilities 2023: $197,018Net Assets 2023: $344,4062023Assets 2024: $685,320Liabilities 2024: $94,000Net Assets 2024: $591,3202024

Highlighted filing

2014

Assets$454,326
Liabilities$293,663
Net Assets$160,663

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.0M$500K$0-$500KRevenue 2011: $338,654Expenses 2011: $291,835Net Income 2011: $46,8192011Revenue 2012: $323,933Expenses 2012: $400,360Net Income 2012: -$76,4272012Revenue 2013: $290,668Expenses 2013: $390,825Net Income 2013: -$100,1572013Revenue 2014: $385,508Expenses 2014: $488,889Net Income 2014: -$103,3812014Revenue 2015: $339,164Expenses 2015: $451,316Net Income 2015: -$112,1522015Revenue 2016: $564,858Expenses 2016: $530,634Net Income 2016: $34,2242016Revenue 2017: $577,620Expenses 2017: $448,635Net Income 2017: $128,9852017Revenue 2018: $493,990Expenses 2018: $506,408Net Income 2018: -$12,4182018Revenue 2019: $344,128Expenses 2019: $450,901Net Income 2019: -$106,7732019Revenue 2020: $401,065Expenses 2020: $466,445Net Income 2020: -$65,3802020Revenue 2021: $487,784Expenses 2021: $389,350Net Income 2021: $98,4342021Revenue 2022: $713,005Expenses 2022: $599,172Net Income 2022: $113,8332022Revenue 2023: $760,191Expenses 2023: $650,589Net Income 2023: $109,6022023Revenue 2024: $794,352Expenses 2024: $582,101Net Income 2024: $212,2512024

Highlighted filing

2014

Revenue$385,508
Expenses$488,889
Net Income-$103,381
Jump To
Filing Snapshot
Filing Period
Oct 1, 2013 to Sep 30, 2014
Signed
Feb 16, 2015
Return Version
2013v4.0
Gross Receipts
$596,321
Mission and Program Overview

Mission

SEE SCHEDULE O

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$474,775$288,208▼ $186,567
Cash and Non-Interest-Bearing Accounts$148,224$124,308▼ $23,916
Pledges and Grants Receivable$18,250$39,600▲ $21,350
Prepaid Expenses and Deferred Charges$2,216$2,210▼ $6
Total Assets$720,965$454,326▼ $266,639
Other Assets Total$77,500$0▼ $77,500
Liabilities
Other Liabilities$403,030$281,612▼ $121,418
Accounts Payable and Accrued Expenses$44,750$12,051▼ $32,699
Total Liabilities$447,780$293,663▼ $154,117
Net Assets / Fund Balance
Unrestricted Net Assets$273,185$160,663▼ $112,522
Total Net Assets Fund Balance$273,185$160,663▼ $112,522
Total Liabilities and Net Assets / Fund Balance$720,965$454,326▼ $266,639
Compensation and Service Providers

Board Members and Trustees

NameTitle
Michael D HaddadChairman
Bruce SprengerImmediate Past Chairman
Michael MaiorinoPresident
Michael CoileyFirst Vice President
Patrick B TrammellFirst Vice President - Finance
Andrea L PetroVice President
D Michael MonkVice President
David GrendeVice President
Brian CoveChief Operating Officer
Jonathan NhelfatCo-general Counsel
Richard M KohnCo-general Counsel
Robert TrojanSecretary/chief Exec Officer
Revenue and Support

Revenue Composition

Contributions and Grants
$329,925
Program Service Revenue
$0
Investment Income
$55,583
Other Revenue
$0
All Other Contributions
$329,925
Change in Net Assets
$-103,381

Audited Revenue Reconciliation

Revenue per Audited Statements
$385,508
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$385,508
Total Revenue per Form 990
$385,508
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$488,889
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy-$60,000-$60,000
Fees for Services Legal-$42,103-$42,103
Fees for Service Investment Mgmnt Fees-$6,037-$6,037
Fees for Services Management-$3,854-$3,854
Other Expenses$365,494$3,327-$3,327
Insurance-$2,259-$2,259
Travel-$1,892-$1,892
Fees for Services Other-$694-$694
Office Expenses-$229-$229
Total Functional Expenses$365,494$123,395$0$488,889

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$498,030
Expenses per Audited Statements$488,889
Total Expenses per Form 990$488,889
Expenses Not Reported on Form 990$9,141
Expenses Not Reported on Financial Statements$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Related Party$281,612
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
No
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11

The form 990 is prepared by an outside, independent accounting form. A draft copy of the form 990 is presented to the board for review and comment prior to filing with the irs.

Form 990, Part VI, Section B, Line 12

The organization and commercial finance association, inc., its related entity, are currently reviewing the future implementation of a conflict of interest and a whistleblower policy.

Form 990, Part VI, Section B, Line 15

All salaries are paid through commercial financial association, inc., a related entity. The board of cfa, inc. Has an executive compensation committee which reviews all executive compensation. Their determination of salaries is based on review of the employee's job performance and comparison to the salary levels of other tax-exempt organizations. Their decisions are fully documented.

Form 990, Part VI, Section C, Line 19

All governing documents and financial statements are available to the public upon request.

Filing and Contact Details

Filer

EIN
13-3577148
Phone
2127929390

Signing Officer

Name
Robert Trojan
Title
Secretary/chief Exec Officer
Phone
2127929390
Signed
2015-02-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Robert Trojan
Formed
1990
Legal Domicile
Ny
Voting Board Members
8
Independent Board Members
8
Employees
0
Volunteers
115

Preparer

Preparer
Howard a Rein
Phone
7168472651
Supplemental Narrative

Additional Explanations

Form 990, Part I, Line 1

The organization was formed on june 4, 1990 to provide grants and/or gifts to assist and support students enrolled in educational programs dealing with asset based lending and to make grants and/or gifts to assist and fund secondary schools, colleges and universities in support of their asset based lending educational programs.

Form 990, Part III, Line 1

The organization was formed on june 4, 1990 to provide grants and/or gifts to assist and support students enrolled in educational programs dealing with asset based lending and to make grants and/or gifts to assist and fund secondary schools, colleges and universities in support of their asset based lending educational programs.

Form 990, Part XII, Line 2C

There have been no changes to the process from the previous year.

Financial Statement Notes

PART X, LINE 2:

As stated in note 1 to the consolidated financial statements, the association and foundation are not for profit entities as described under sections 501(c)(6) and sections 501(c)(3), respectively, of the internal revenue code. Accordingly, each entity is exempt from federal income tax and is no longer subject to u.s. Federal, state and local or non-u.s. Income tax examinations by taxing authorities for the years prior to 2011.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Unrealized loss on investment 9,141.

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IRS990/Form990PartVIISectionAGrp/TitleTxt0FIRST VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt1PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt2CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt3VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt4FIRST VICE PRESIDENT - FINANCE
IRS990/Form990PartVIISectionAGrp/TitleTxt5VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt6IMMEDIATE PAST CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt7VICE PRESIDENT
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IRS990/PledgesAndGrantsReceivableGrp/EOYAmt039600
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt02216
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt02210
IRS990/PrincipalOfficerNm0ROBERT TROJAN
IRS990/ProfessionalFundraisingInd00
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0270843
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt019825
IRS990/PYOtherExpensesAmt0390825
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt0-100157
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt0390825
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0290668
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-103381
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0329925
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0270843
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0286403
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0331489
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0517823
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt01736483
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt09930
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt012343
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt011628
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt07166
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt011026
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt052093
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.97090
IRS990ScheduleA/PublicSupportPY170Pct00.96420
IRS990ScheduleA/PublicSupportTotal170Amt01736483
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0329925
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0270843
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0286403
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0331489
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0517823
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01736483
IRS990ScheduleA/TotalSupportAmt01788576
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/ExpensesNotReportedAmt09141
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0488889
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherExpensesIncludedAmt09141
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0281612
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO RELATED PARTY
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0385508
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0AS STATED IN NOTE 1 TO THE CONSOLIDATED FINANCIAL STATEMENTS, THE ASSOCIATION AND FOUNDATION ARE NOT FOR PROFIT ENTITIES AS DESCRIBED UNDER SECTIONS 501(C)(6) AND SECTIONS 501(C)(3), RESPECTIVELY, OF THE INTERNAL REVENUE CODE. ACCORDINGLY, EACH ENTITY IS EXEMPT FROM FEDERAL INCOME TAX AND IS NO LONGER SUBJECT TO U.S. FEDERAL, STATE AND LOCAL OR NON-U.S. INCOME TAX EXAMINATIONS BY TAXING AUTHORITIES FOR THE YEARS PRIOR TO 2011.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1UNREALIZED LOSS ON INVESTMENT 9,141.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XII, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt0488889
IRS990ScheduleD/TotalLiabilityAmt0281612
IRS990ScheduleD/TotalRevenuePerForm990Amt0385508
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0385508
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0498030
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt0198302
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt1296646
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt034635
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt137585
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0BRIAN COVE
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1ROBERT TROJAN
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0CHIEF OPERATING OFFICER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1SECRETARY/CHIEF EXEC OFFICER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0232937
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt1334231
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0ALL SALARIES ARE PAID THROUGH COMMERCIAL FINANCIAL ASSOCIATION, INC., A RELATED ENTITY. THE BOARD OF CFA, INC. HAS AN EXECUTIVE COMPENSATION COMMITTEE WHICH REVIEWS ALL EXECUTIVE COMPENSATION. THEIR DETERMINATION OF SALARIES IS BASED ON REVIEW OF THE EMPLOYEE'S JOB PERFORMANCE AND COMPARISON TO THE SALARY LEVELS OF OTHER TAX-EXEMPT ORGANIZATIONS. THEIR DECISIONS ARE FULLY DOCUMENTED.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 3
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION WAS FORMED ON JUNE 4, 1990 TO PROVIDE GRANTS AND/OR GIFTS TO ASSIST AND SUPPORT STUDENTS ENROLLED IN EDUCATIONAL PROGRAMS DEALING WITH ASSET BASED LENDING AND TO MAKE GRANTS AND/OR GIFTS TO ASSIST AND FUND SECONDARY SCHOOLS, COLLEGES AND UNIVERSITIES IN SUPPORT OF THEIR ASSET BASED LENDING EDUCATIONAL PROGRAMS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION WAS FORMED ON JUNE 4, 1990 TO PROVIDE GRANTS AND/OR GIFTS TO ASSIST AND SUPPORT STUDENTS ENROLLED IN EDUCATIONAL PROGRAMS DEALING WITH ASSET BASED LENDING AND TO MAKE GRANTS AND/OR GIFTS TO ASSIST AND FUND SECONDARY SCHOOLS, COLLEGES AND UNIVERSITIES IN SUPPORT OF THEIR ASSET BASED LENDING EDUCATIONAL PROGRAMS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE FORM 990 IS PREPARED BY AN OUTSIDE, INDEPENDENT ACCOUNTING FORM. A DRAFT COPY OF THE FORM 990 IS PRESENTED TO THE BOARD FOR REVIEW AND COMMENT PRIOR TO FILING WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION AND COMMERCIAL FINANCE ASSOCIATION, INC., ITS RELATED ENTITY, ARE CURRENTLY REVIEWING THE FUTURE IMPLEMENTATION OF A CONFLICT OF INTEREST AND A WHISTLEBLOWER POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ALL SALARIES ARE PAID THROUGH COMMERCIAL FINANCIAL ASSOCIATION, INC., A RELATED ENTITY. THE BOARD OF CFA, INC. HAS AN EXECUTIVE COMPENSATION COMMITTEE WHICH REVIEWS ALL EXECUTIVE COMPENSATION. THEIR DETERMINATION OF SALARIES IS BASED ON REVIEW OF THE EMPLOYEE'S JOB PERFORMANCE AND COMPARISON TO THE SALARY LEVELS OF OTHER TAX-EXEMPT ORGANIZATIONS. THEIR DECISIONS ARE FULLY DOCUMENTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5ALL GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THERE HAVE BEEN NO CHANGES TO THE PROCESS FROM THE PREVIOUS YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART I, LINE 1
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART III, LINE 1
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 12
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART XII, LINE 2C
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine10COMMERCIAL FINANCE ASSOCIATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(6)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0NY

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$6.85$0.94$5.91$7.94$5.82$2.12
2023Detailed filing. Detailed filing data is available for this year.$5.41$1.97$3.44$7.60$6.51$1.10
2022Detailed filing. Detailed filing data is available for this year.$5.34$3.24$2.10$7.13$5.99$1.14
2021Detailed filing. Detailed filing data is available for this year.$6.04$4.72$1.32$4.88$3.89$0.98
2020Detailed filing. Detailed filing data is available for this year.$5.48$5.28$0.20$4.01$4.66$0.65
2019Summary only. Only limited summary data is available for this year.$7.17$6.45$0.72$3.44$4.51$1.07
2018Detailed filing. Detailed filing data is available for this year.$8.74$7.01$1.73$4.94$5.06$0.12
2017Detailed filing. Detailed filing data is available for this year.$7.09$5.21$1.87$5.78$4.49$1.29
2016Detailed filing. Detailed filing data is available for this year.$4.34$3.74$0.60$5.65$5.31$0.34
2015Detailed filing. Detailed filing data is available for this year.$4.02$3.80$0.23$3.39$4.51$1.12
2014Detailed filing. Detailed filing data is available for this year.$4.54$2.94$1.61$3.86$4.89$1.03
2013Summary only. Only limited summary data is available for this year.$7.21$4.48$2.73$2.91$3.91$1.00
2012Summary only. Only limited summary data is available for this year.$6.29$2.74$3.56$3.24$4.00$0.76
2011Summary only. Only limited summary data is available for this year.$5.27$1.01$4.26$3.39$2.92$0.47