Liabilities / Assets
97th percentile
Higher debt load relative to assets than 97% of similar nonprofits.
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
0.74x
Liabilities / Revenue
97th percentile
Higher debt load relative to revenue than 97% of similar nonprofits.
Net Margin
64th percentile
Higher net margin than 64% of similar nonprofits.
Top Officer Pay
100th percentile
Higher top officer pay than 100% of similar nonprofits.
Top officer pay equals 56.2% of source-year revenue.
Asset Growth
94th percentile
Faster asset growth than 94% of similar nonprofits.
Revenue Growth
41st percentile
Faster revenue growth than 41% of similar nonprofits.
Balance Sheet
Assets
Up$708,653
Up $274,612 (+63%) from 2016
Net Assets
Up$187,456
Up $127,484 (+213%) from 2016
Liabilities
Up$521,197
Up $147,128 (+39%) from 2016
Revenue And Expenses
Revenue
Up$577,620
Up $12,762 (+2.3%) from 2016
Expenses
Down$448,635
Down $81,999 (-15%) from 2016
Net Income
Up$128,985
Up $94,761 (+277%) from 2016
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Oct 1, 2016 to Sep 30, 2017
- Signed
- Aug 6, 2018
- Return Version
- 2016v3.0
- Gross Receipts
- $606,595
Mission and Program Overview
Mission
SEE SCHEDULE O
Balance Sheet Detail
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Cash and Non-Interest-Bearing Accounts | $112,675 | $365,497 | ▲ $252,822 |
| Investments in Publicly Traded Securities | $171,930 | $176,581 | ▲ $4,651 |
| Pledges and Grants Receivable | $105,750 | $87,325 | ▼ $18,425 |
| Accounts Receivable | $41,250 | $79,250 | ▲ $38,000 |
| Prepaid Expenses and Deferred Charges | $2,436 | $0 | ▼ $2,436 |
| Total Assets | $434,041 | $708,653 | ▲ $274,612 |
| Liabilities | |||
| Other Liabilities | $371,365 | $504,092 | ▲ $132,727 |
| Accounts Payable and Accrued Expenses | $2,704 | $17,105 | ▲ $14,401 |
| Total Liabilities | $374,069 | $521,197 | ▲ $147,128 |
| Net Assets / Fund Balance | |||
| Unrestricted Net Assets | $59,972 | $187,456 | ▲ $127,484 |
| Total Net Assets Fund Balance | $59,972 | $187,456 | ▲ $127,484 |
| Total Liabilities and Net Assets / Fund Balance | $434,041 | $708,653 | ▲ $274,612 |
Compensation and Service Providers
Employees
| Name | Title | Full / Part Time | Other | Total |
|---|---|---|---|---|
| Tim Atkinson | Director of Membership, Ed | PT | $114,482 | $114,482 |
| Greg Slowik | CFO | PT | $60,125 | $60,125 |
| Brian Cove | COO (to 3/15/16) | PT | $39,583 | $39,583 |
| Andre Solomon | Director of Finance & Admin (to 10/17/16) | PT | $28,967 | $28,967 |
Board Members and Trustees
| Name | Title |
|---|---|
| Michael Maiorino | Chairman |
| Michael D Haddad | Immediate Past Chairman |
| Andrea L Petro | President |
| D Michael Monk | First Vice President |
| Jeffrey Goldrich | Vice President |
| John Depledge | Vice President |
| David Grende | Vice President - Finance |
| Jonathan Nhelfat | Co-general Counsel |
| Richard M Kohn | Co-general Counsel |
| Robert Trojan | Secretary/CEO (to 2/14/17) |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $356,226
- Program Service Revenue
- $210,200
- Investment Income
- $11,194
- Other Revenue
- $0
- All Other Contributions
- $356,226
- Change in Net Assets
- $128,985
Audited Revenue Reconciliation
- Revenue per Audited Statements
- $577,620
- Revenue Not Reported on Financial Statements
- $0
- Revenue Not Reported on Form 990
- $-1,501
- Total Revenue per Audited Statements
- $576,119
- Total Revenue per Form 990
- $577,620
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Other Expenses | $448,635 |
| Grants and Similar Amounts Paid | $0 |
| Professional Fundraising Fees | $0 |
| Salaries, Compensation, and Employee Benefits | $0 |
| Total Fundraising Expense | $0 |
Functional Expense Allocation
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Occupancy | - | $60,000 | - | $60,000 |
| Fees for Services Other | - | $22,881 | - | $22,881 |
| Travel | - | $5,464 | - | $5,464 |
| Fees for Services Accounting | - | $3,756 | - | $3,756 |
| Fees for Service Investment Mgmnt Fees | - | $2,890 | - | $2,890 |
| Insurance | - | $2,436 | - | $2,436 |
| Other Expenses | $332,276 | $1,352 | - | $1,352 |
| Total Functional Expenses | $332,276 | $116,359 | $0 | $448,635 |
Audited Expense Reconciliation
| Line Item | Amount |
|---|---|
| Expenses per Audited Statements | $448,635 |
| Total Expenses per Audited Statements | $448,635 |
| Total Expenses per Form 990 | $448,635 |
| Expenses Not Reported on Financial Statements | $0 |
| Expenses Not Reported on Form 990 | $0 |
Fundraising, Events, and Gaming
- Fundraising activities
- No
- Gaming activities
- No
- Professional fundraiser used
- No
Fundraising and Gaming Totals
| Line Item | Amount |
|---|---|
| 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
| Liability | Amount |
|---|---|
| Due to Related Party | $504,092 |
Governance and Compliance
Governance Checklist
- Compiled or reviewed by an accountant
- No
- Annual disclosure for covered persons
- Yes
- Audit committee
- Yes
- 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
- Yes
- 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 11B
“The form 990 is prepared by an outside, independent accounting firm. 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 12C
“Each officer and member of the executive committee is required to annually sign a statement which affirms that such person read and understands the conflict of interest policy and agrees to comply with it. In addition, any material changes in their annual statement must be immediately reported. The executive committee regularly and consistently monitors and enforces compliance with this policy by reviewing annual statements and taking action as necessary. In addition, periodic reviews of compensation arrangements and contracts as well as partnerships, joint ventures and arrangements with management organizations are performed. Outside advisors may be used in this process if it is deemed necessary.”
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
- Filer Name
- Cfa Education Foundation Inc
- EIN
- 13-3577148
- Phone
- 2127929390
- Address
- 370 7TH AVENUE 1801 NO 1801, NEW YORK, NY 10001
Signing Officer
- Name
- Richard Gumbrecht
- Title
- CEO
- Phone
- 2127929390
- Signed
- 2018-08-06
- Discuss with paid preparer
- Yes
Organization Details
- Principal Officer
- Richard Gumbrecht
- Formed
- 1990
- Legal Domicile
- Ny
- Voting Board Members
- 7
- Independent Board Members
- 7
- Employees
- 0
- Volunteers
- 110
Preparer
- Firm
- Freed Maxick Cpas Pc
- Address
- 424 MAIN STREET SUITE 800, BUFFALO, NY 14202-3508
- Preparer
- Mary Madonia
- 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 foundation is a not for profit entity as described in section 501(c)(3) of the internal revenue code. U.s. Gaap provides guidance on the financial statement recognition and measurement for income tax position that the foundation has taken or expects to take in it's income tax returns. The foundation takes many tax positions relative to tax laws, including those taken in determining whether tax is due, a refund is owed, a tax return needs to be filed, or the characterization of income is taxable (for example, unrelated business income) or nontaxable. The foundation has not recorded any liabilities relating to uncertain tax positions.”
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| IRS990/IndivRcvdGreaterThan100KCnt | 0 | 0 |
| IRS990/IndoorTanningServicesInd | 0 | 0 |
| IRS990/InfoInScheduleOPartIIIInd | 0 | X |
| IRS990/InfoInScheduleOPartVIInd | 0 | X |
| IRS990/InfoInScheduleOPartXIIInd | 0 | X |
| IRS990/InsuranceGrp/ManagementAndGeneralAmt | 0 | 2436 |
| IRS990/InsuranceGrp/TotalAmt | 0 | 2436 |
| IRS990/InvestmentIncomeGrp/ExclusionAmt | 0 | 3279 |
| IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt | 0 | 3279 |
| IRS990/InvestmentInJointVentureInd | 0 | 0 |
| IRS990/InvestmentsPubTradedSecGrp/BOYAmt | 0 | 171930 |
| IRS990/InvestmentsPubTradedSecGrp/EOYAmt | 0 | 176581 |
| IRS990/IRPDocumentCnt | 0 | 0 |
| IRS990/IRPDocumentW2GCnt | 0 | 0 |
| IRS990/LegalDomicileStateCd | 0 | NY |
| IRS990/LessCostOthBasisSalesExpnssGrp/SecuritiesAmt | 0 | 28975 |
| IRS990/LoanOutstandingInd | 0 | 0 |
| IRS990/LobbyingActivitiesInd | 0 | 0 |
| IRS990/LocalChaptersInd | 0 | 0 |
| IRS990/MaterialDiversionOrMisuseInd | 0 | 0 |
| IRS990/MembersOrStockholdersInd | 0 | 0 |
| IRS990/MethodOfAccountingAccrualInd | 0 | X |
| IRS990/MinutesOfCommitteesInd | 0 | 1 |
| IRS990/MinutesOfGoverningBodyInd | 0 | 1 |
| IRS990/MissionDesc | 0 | SEE SCHEDULE O |
| IRS990/MoreThan5000KToIndividualsInd | 0 | 0 |
| IRS990/MoreThan5000KToOrgInd | 0 | 0 |
| IRS990/NetAssetsOrFundBalancesBOYAmt | 0 | 59972 |
| IRS990/NetAssetsOrFundBalancesEOYAmt | 0 | 187456 |
| IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt | 0 | 7915 |
| IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt | 0 | 7915 |
| IRS990/NetUnrelatedBusTxblIncmAmt | 0 | 0 |
| IRS990/NetUnrlzdGainsLossesInvstAmt | 0 | -1501 |
| IRS990/NondeductibleContributionsInd | 0 | 0 |
| IRS990/OccupancyGrp/ManagementAndGeneralAmt | 0 | 60000 |
| IRS990/OccupancyGrp/TotalAmt | 0 | 60000 |
| IRS990/OfficerMailingAddressInd | 0 | 0 |
| IRS990/OperateHospitalInd | 0 | 0 |
| IRS990/Organization501c3Ind | 0 | X |
| IRS990/OrganizationFollowsSFAS117Ind | 0 | X |
| IRS990/OtherChangesInNetAssetsAmt | 0 | 0 |
| IRS990/OtherExpensesGrp/Desc | 0 | EDUCATIONAL PROGRAMS |
| IRS990/OtherExpensesGrp/Desc | 1 | COMMISSIONS |
| IRS990/OtherExpensesGrp/Desc | 2 | BAD DEBT |
| IRS990/OtherExpensesGrp/Desc | 3 | OTHER EXPENSES |
| IRS990/OtherExpensesGrp/ManagementAndGeneralAmt | 0 | 10705 |
| IRS990/OtherExpensesGrp/ManagementAndGeneralAmt | 1 | 6875 |
| IRS990/OtherExpensesGrp/ManagementAndGeneralAmt | 2 | 1352 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 0 | 332276 |
| IRS990/OtherExpensesGrp/TotalAmt | 0 | 332276 |
| IRS990/OtherExpensesGrp/TotalAmt | 1 | 10705 |
| IRS990/OtherExpensesGrp/TotalAmt | 2 | 6875 |
| IRS990/OtherExpensesGrp/TotalAmt | 3 | 1352 |
| IRS990/OtherLiabilitiesGrp/BOYAmt | 0 | 371365 |
| IRS990/OtherLiabilitiesGrp/EOYAmt | 0 | 504092 |
| IRS990/PartialLiquidationInd | 0 | 0 |
| IRS990/PayPremiumsPrsnlBnftCntrctInd | 0 | 0 |
| IRS990/PledgesAndGrantsReceivableGrp/BOYAmt | 0 | 105750 |
| IRS990/PledgesAndGrantsReceivableGrp/EOYAmt | 0 | 87325 |
| IRS990/PoliticalCampaignActyInd | 0 | 0 |
| IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt | 0 | 2436 |
| IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt | 0 | 0 |
| IRS990/PrincipalOfficerNm | 0 | RICHARD GUMBRECHT |
| IRS990/ProfessionalFundraisingInd | 0 | 0 |
| IRS990/ProgramServiceRevenueGrp/BusinessCd | 0 | 900099 |
| IRS990/ProgramServiceRevenueGrp/Desc | 0 | PROGRAM EVENTS |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 0 | 210200 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 0 | 210200 |
| IRS990/ProhibitedTaxShelterTransInd | 0 | 0 |
| IRS990/PYBenefitsPaidToMembersAmt | 0 | 0 |
| IRS990/PYContributionsGrantsAmt | 0 | 366833 |
| IRS990/PYExcessBenefitTransInd | 0 | 0 |
| IRS990/PYGrantsAndSimilarPaidAmt | 0 | 0 |
| IRS990/PYInvestmentIncomeAmt | 0 | 8010 |
| IRS990/PYOtherExpensesAmt | 0 | 530634 |
| IRS990/PYOtherRevenueAmt | 0 | 0 |
| IRS990/PYProgramServiceRevenueAmt | 0 | 190015 |
| IRS990/PYRevenuesLessExpensesAmt | 0 | 34224 |
| IRS990/PYSalariesCompEmpBnftPaidAmt | 0 | 0 |
| IRS990/PYTotalExpensesAmt | 0 | 530634 |
| IRS990/PYTotalProfFndrsngExpnsAmt | 0 | 0 |
| IRS990/PYTotalRevenueAmt | 0 | 564858 |
| IRS990/QuidProQuoContributionsInd | 0 | 0 |
| IRS990/RcvFndsToPayPrsnlBnftCntrctInd | 0 | 0 |
| IRS990/ReconcilationRevenueExpnssAmt | 0 | 128985 |
| IRS990/RegularMonitoringEnfrcInd | 0 | 1 |
| IRS990/RelatedEntityInd | 0 | 1 |
| IRS990/RelatedOrganizationCtrlEntInd | 0 | 0 |
| IRS990/ReportInvestmentsOtherSecInd | 0 | 0 |
| IRS990/ReportLandBuildingEquipmentInd | 0 | 0 |
| IRS990/ReportOtherAssetsInd | 0 | 0 |
| IRS990/ReportOtherLiabilitiesInd | 0 | 1 |
| IRS990/ReportProgramRelatedInvstInd | 0 | 0 |
| IRS990/RevenueAmt | 0 | 210200 |
| IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt | 0 | 356226 |
| IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt | 0 | 366833 |
| IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt | 0 | 308618 |
| IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt | 0 | 329925 |
| IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt | 0 | 270843 |
| IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt | 0 | 1632445 |
| IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt | 0 | 3279 |
| IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt | 0 | 3139 |
| IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt | 0 | 5905 |
| IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt | 0 | 9930 |
| IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt | 0 | 12343 |
| IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt | 0 | 34596 |
| IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt | 0 | 400215 |
| IRS990ScheduleA/PublicOrganization170Ind | 0 | X |
| IRS990ScheduleA/PublicSupportCY170Pct | 0 | 0.97920 |
| IRS990ScheduleA/PublicSupportPY170Pct | 0 | 0.97330 |
| IRS990ScheduleA/PublicSupportTotal170Amt | 0 | 1632445 |
| IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind | 0 | X |
| IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt | 0 | 356226 |
| IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt | 0 | 366833 |
| IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt | 0 | 308618 |
| IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt | 0 | 329925 |
| IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt | 0 | 270843 |
| IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt | 0 | 1632445 |
| IRS990ScheduleA/TotalSupportAmt | 0 | 1667041 |
| IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine1 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorNum | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine1 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine2 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt | 0 | RESTRICTED |
| IRS990/ScheduleBRequiredInd | 0 | 1 |
| IRS990ScheduleD/ExpensesNotReportedAmt | 0 | 0 |
| IRS990ScheduleD/ExpensesNotRptFinclStmtAmt | 0 | 0 |
| IRS990ScheduleD/ExpensesSubtotalAmt | 0 | 448635 |
| IRS990ScheduleD/FootnoteTextInd | 0 | X |
| IRS990ScheduleD/NetUnrealizedGainsInvstAmt | 0 | -1501 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 0 | 504092 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 0 | DUE TO RELATED PARTY |
| IRS990ScheduleD/RevenueNotReportedAmt | 0 | -1501 |
| IRS990ScheduleD/RevenueNotReportedFinclStmtAmt | 0 | 0 |
| IRS990ScheduleD/RevenueSubtotalAmt | 0 | 577620 |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 0 | AS STATED IN NOTE 1 TO THE CONSOLIDATED FINANCIAL STATEMENTS, THE FOUNDATION IS A NOT FOR PROFIT ENTITY AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. U.S. GAAP PROVIDES GUIDANCE ON THE FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT FOR INCOME TAX POSITION THAT THE FOUNDATION HAS TAKEN OR EXPECTS TO TAKE IN IT'S INCOME TAX RETURNS. THE FOUNDATION TAKES MANY TAX POSITIONS RELATIVE TO TAX LAWS, INCLUDING THOSE TAKEN IN DETERMINING WHETHER TAX IS DUE, A REFUND IS OWED, A TAX RETURN NEEDS TO BE FILED, OR THE CHARACTERIZATION OF INCOME IS TAXABLE (FOR EXAMPLE, UNRELATED BUSINESS INCOME) OR NONTAXABLE. THE FOUNDATION HAS NOT RECORDED ANY LIABILITIES RELATING TO UNCERTAIN TAX POSITIONS. |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | PART X, LINE 2: |
| IRS990ScheduleD/TotalBookValueLandBuildingsAmt | 0 | 0 |
| IRS990ScheduleD/TotalExpensesPerForm990Amt | 0 | 448635 |
| IRS990ScheduleD/TotalLiabilityAmt | 0 | 504092 |
| IRS990ScheduleD/TotalRevenuePerForm990Amt | 0 | 577620 |
| IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt | 0 | 576119 |
| IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt | 0 | 448635 |
| IRS990ScheduleJ/AnyNonFixedPaymentsInd | 0 | 0 |
| IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd | 0 | 0 |
| IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd | 0 | 0 |
| IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd | 0 | 0 |
| IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd | 0 | 0 |
| IRS990ScheduleJ/EquityBasedCompArrngmInd | 0 | 0 |
| IRS990ScheduleJ/InitialContractExceptionInd | 0 | 0 |
| IRS990/ScheduleJRequiredInd | 0 | 1 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt | 0 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount | 0 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt | 0 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt | 0 | 324523 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt | 0 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt | 0 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt | 0 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt | 0 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt | 0 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt | 0 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt | 0 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt | 0 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm | 0 | ROBERT TROJAN |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt | 0 | SECRETARY/CEO (TO 2/14/17) |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt | 0 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt | 0 | 324523 |
| IRS990ScheduleJ/SeverancePaymentInd | 0 | 0 |
| IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt | 0 | 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. |
| IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | PART I, LINE 3 |
| IRS990ScheduleJ/SupplementalNonqualRtrPlanInd | 0 | 0 |
| IRS990/ScheduleORequiredInd | 0 | 1 |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | 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. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 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. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | THE FORM 990 IS PREPARED BY AN OUTSIDE, INDEPENDENT ACCOUNTING FIRM. A DRAFT COPY OF THE FORM 990 IS PRESENTED TO THE BOARD FOR REVIEW AND COMMENT PRIOR TO FILING WITH THE IRS. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 3 | EACH OFFICER AND MEMBER OF THE EXECUTIVE COMMITTEE IS REQUIRED TO ANNUALLY SIGN A STATEMENT WHICH AFFIRMS THAT SUCH PERSON READ AND UNDERSTANDS THE CONFLICT OF INTEREST POLICY AND AGREES TO COMPLY WITH IT. IN ADDITION, ANY MATERIAL CHANGES IN THEIR ANNUAL STATEMENT MUST BE IMMEDIATELY REPORTED. THE EXECUTIVE COMMITTEE REGULARLY AND CONSISTENTLY MONITORS AND ENFORCES COMPLIANCE WITH THIS POLICY BY REVIEWING ANNUAL STATEMENTS AND TAKING ACTION AS NECESSARY. IN ADDITION, PERIODIC REVIEWS OF COMPENSATION ARRANGEMENTS AND CONTRACTS AS WELL AS PARTNERSHIPS, JOINT VENTURES AND ARRANGEMENTS WITH MANAGEMENT ORGANIZATIONS ARE PERFORMED. OUTSIDE ADVISORS MAY BE USED IN THIS PROCESS IF IT IS DEEMED NECESSARY. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 4 | 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. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 5 | ALL GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 6 | THERE HAVE BEEN NO CHANGES TO THE PROCESS FROM THE PREVIOUS YEAR. |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | FORM 990, PART I, LINE 1 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | FORM 990, PART III, LINE 1 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | FORM 990, PART VI, SECTION B, LINE 11B |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 3 | FORM 990, PART VI, SECTION B, LINE 12C |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 4 | FORM 990, PART VI, SECTION B, LINE 15 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 5 | FORM 990, PART VI, SECTION C, LINE 19 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 6 | FORM 990, PART XII, LINE 2C |
| IRS990ScheduleR/AssetExchangeInd | 0 | 0 |
| IRS990ScheduleR/AssetPurchaseFromOtherOrgInd | 0 | 0 |
| IRS990ScheduleR/AssetSaleToOtherOrgInd | 0 | 0 |
| IRS990ScheduleR/DivRelatedOrganizationInd | 0 | 0 |
| IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd | 0 | 0 |
Document Assets
No mirrored PDF or thumbnail assets are attached yet.
Filings
Displayed year
2017 • Form 990Detailed filing. Detailed filing data is available for this year.
- Assets
- $708,653
- Liabilities
- $521,197
- Net assets
- $187,456
- Revenue
- $577,620
- Expenses
- $448,635
- Net income
- $128,985