Civic Intelligence

American Finance Association %University of Utah

990 • Fiscal year 2014 • EIN 13-6111495

Oct 01, 2013 to Sep 30, 2014 • Filed on May 12, 2015

Organization ProfileWWW.AFAJOF.ORG
1655 E Campus Center Dr84112

(801) 581-4434

Siviq Scores

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

Liabilities / Assets

21st percentile

0.03x

Higher debt load relative to assets than 21% of similar nonprofits.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2014

Liabilities / Revenue

44th percentile

0.20x

Higher debt load relative to revenue than 44% of similar nonprofits.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2014

Net Margin

77th percentile

18%

Higher net margin than 77% of similar nonprofits.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2014

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2014

Asset Growth

68th percentile

8.9%

Faster asset growth than 68% of similar nonprofits.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2013 to 2014

Revenue Growth

39th percentile

1.4%

Faster revenue growth than 39% of similar nonprofits.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2012 to 2014

Balance Sheet
Liabilities / Assets21st percentile

Assets

Up

$14,803,668

Up $1,212,261 (+8.9%) from 2013

Net Assets

Up

$14,339,280

Up $1,114,700 (+8.4%) from 2013

Liabilities

Up

$464,388

Up $97,561 (+27%) from 2013

Revenue And Expenses
Liabilities / Revenue44th percentileNet Margin77th percentile

Revenue

$2,367,225

No earlier filing loaded for comparison.

Expenses

Up

$1,945,578

Up $52,751 (+2.8%) from 2013

Net Income

$421,647

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth68th percentile

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

$30M$20M$10M$0Assets 2011: $10,952,869Liabilities 2011: $208,290Net Assets 2011: $10,744,5792011Assets 2012: $12,685,265Liabilities 2012: $235,365Net Assets 2012: $12,449,9002012Assets 2013: $13,591,407Liabilities 2013: $366,827Net Assets 2013: $13,224,5802013Assets 2014: $14,803,668Liabilities 2014: $464,388Net Assets 2014: $14,339,2802014Assets 2015: $15,526,751Liabilities 2015: $553,371Net Assets 2015: $14,973,3802015Assets 2016: $16,002,344Liabilities 2016: $575,669Net Assets 2016: $15,426,6752016Assets 2017: $17,621,609Liabilities 2017: $479,587Net Assets 2017: $17,142,0222017Assets 2018: $19,166,722Liabilities 2018: $620,289Net Assets 2018: $18,546,4332018Assets 2019: $21,394,798Liabilities 2019: $869,919Net Assets 2019: $20,524,8792019Assets 2020: $22,139,942Liabilities 2020: $1,240,954Net Assets 2020: $20,898,9882020Assets 2021: $27,372,978Liabilities 2021: $1,037,966Net Assets 2021: $26,335,0122021Assets 2022: $24,668,560Liabilities 2022: $1,207,002Net Assets 2022: $23,461,5582022Assets 2023: $26,738,906Liabilities 2023: $1,914,000Net Assets 2023: $24,824,9062023Assets 2024: $29,331,593Liabilities 2024: $1,763,875Net Assets 2024: $27,567,7182024

Highlighted filing

2014

Assets$14,803,668
Liabilities$464,388
Net Assets$14,339,280
Open 2014 Filing

Operations Trend

Revenue Growth39th percentile

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

$4.0M$3.0M$2.0M$1.0M$0-$1.0MRevenue 2011: $2,092,345Expenses 2011: $1,431,888Net Income 2011: $660,4572011Revenue 2012: $2,300,920Expenses 2012: $1,725,224Net Income 2012: $575,6962012Expenses 2013: $1,892,8272013Revenue 2014: $2,367,225Expenses 2014: $1,945,578Net Income 2014: $421,6472014Revenue 2015: $1,862,809Expenses 2015: $1,392,809Net Income 2015: $470,0002015Revenue 2016: $2,420,627Expenses 2016: $2,060,045Net Income 2016: $360,5822016Revenue 2017: $2,366,957Expenses 2017: $1,731,907Net Income 2017: $635,0502017Revenue 2018: $2,377,288Expenses 2018: $1,824,683Net Income 2018: $552,6052018Revenue 2019: $3,261,560Expenses 2019: $2,139,114Net Income 2019: $1,122,4462019Revenue 2020: $2,200,524Expenses 2020: $1,918,969Net Income 2020: $281,5552020Revenue 2021: $1,934,853Expenses 2021: $1,568,359Net Income 2021: $366,4942021Revenue 2022: $2,101,619Expenses 2022: $1,535,848Net Income 2022: $565,7712022Revenue 2023: $2,867,924Expenses 2023: $2,573,654Net Income 2023: $294,2702023Revenue 2024: $1,795,280Expenses 2024: $2,369,121Net Income 2024: -$573,8412024

Highlighted filing

2014

Revenue$2,367,225
Expenses$1,945,578
Net Income$421,647
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2013 to Sep 30, 2014
Signed
May 12, 2015
Return Version
2013v4.0
Gross Receipts
$2,367,225
Mission and Program Overview

Mission

The american finance association (afa) is an academic organization devoted to the study and promotion of knowledge about financial economics. In pursuit of this mission, the association publishes the journal of finance and holds an annual meeting in which and at which research in the field is presented.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$12,187,831$13,129,041▲ $941,210
Savings and Temporary Cash Investments$27,191$678,397▲ $651,206
Accounts Receivable$370,516$413,100▲ $42,584
Investments Program Related$336,996$344,411▲ $7,415
Cash and Non-Interest-Bearing Accounts$668,873$238,719▼ $430,154
Total Assets$13,591,407$14,803,668▲ $1,212,261
Liabilities
Accounts Payable and Accrued Expenses$366,827$464,388▲ $97,561
Total Liabilities$366,827$464,388▲ $97,561
Net Assets / Fund Balance
Unrestricted Net Assets$12,865,000$13,974,100▲ $1,109,100
Temporarily Rstr Net Assets$359,580$365,180▲ $5,600
Total Net Assets Fund Balance$13,224,580$14,339,280▲ $1,114,700
Total Liabilities and Net Assets / Fund Balance$13,591,407$14,803,668▲ $1,212,261

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$13,129,041--
Compensation and Service Providers
Top Officer PayScore unavailable

Employees

NameTitleFull / Part TimeBaseTotal
Kenneth J SingletonEditorFT$35,000$35,000

Board Members and Trustees

NameTitle
Robert StambaughPast President
Luigi ZingalesPresident
Patrick BoltonPresident Elect
Campbell HarveyVice President
Andrew MetrickDirector
Annette Vissing-jorgensenDirector
Antoinette SchoarDirector
Dimitri VayanosDirector
Francesca CornelliDirector
Ivo WelchDirector
Jeff WurglerDirector
Jessica WachterDirector
Jonathan BerkDirector
Sheridan TitmanDirector
James Jim SchallheimExec Secretary/treasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Finance Editors LLCCopy Editor-$106,174
Revenue and Support

Revenue Composition

Contributions and Grants
$40,000
Program Service Revenue
$1,913,366
Investment Income
$347,421
Other Revenue
$66,438
All Other Contributions
$40,000
Change in Net Assets
$421,647

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,367,225
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$693,053
Total Revenue per Audited Statements
$3,060,278
Total Revenue per Form 990
$2,367,225
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,711,493
Salaries, Compensation, and Employee Benefits$234,085
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Conferences and Meetings$330,623--$330,623
Occupancy$305,708--$305,708
Current Officers, Directors, Trustees, and Key Employees$134,085$100,000-$234,085
Fees for Services Accounting-$19,842-$19,842
Office Expenses$4,477$14,677-$19,154
Other Expenses$14,435--$14,435
Information Technology$10,665--$10,665
Fees for Services Legal-$4,629-$4,629
Insurance-$3,503-$3,503
Total Functional Expenses$1,802,927$142,651$0$1,945,578

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,945,578
Total Expenses per Audited Statements$1,945,578
Total Expenses per Form 990$1,945,578
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 ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Backup withholding compliance
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
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

“The association has 16 members of the board who participate in its governance.”

Form 990, Part VI, Section A, Line 7A

“The members of the board are elected by the members of the association.”

Form 990, Part VI, Section B, Line 11

“The members of the board review the audited financial statements and form 990 before it is filed, through the association's executive secretary & treasurer.”

Form 990, Part VI, Section B, Line 15A

“The members of the board are tasked with the performance review, evaluation, and compensation recommendation for the executive secretary treasurer and journal editor.”

Form 990, Part VI, Section C, Line 18

“The association's form 1023 and form 990 are available for public inspection upon request or through guidestar.org.”

Form 990, Part VI, Section C, Line 19

“The association's governing documents and financial statements are posted on the association's website and available to the public upon request.”

Filing and Contact Details

Filer

EIN
13-6111495
Phone
8015814434

Signing Officer

Name
James Schallheim
Title
Executive Secretary & Treasurer
Phone
8015814434
Signed
2015-05-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
James Schallheim
Formed
1939
Legal Domicile
Il
Voting Board Members
16
Independent Board Members
10
Employees
0
Volunteers
0

Preparer

Preparer
Alicia Cua
Phone
2099489119
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

“The audit committee of the board of directors reviews the association's audited financial statements.”

Raw XML AppendixShowing 400 of 496 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/TitleTxt10PAST PRESIDENT
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IRS990/Form990PartVIISectionAGrp/TitleTxt12VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt13PRESIDENT
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IRS990/MissionDesc0THE AMERICAN FINANCE ASSOCIATION (AFA) IS AN ACADEMIC ORGANIZATION DEVOTED TO THE STUDY AND PROMOTION OF KNOWLEDGE ABOUT FINANCIAL ECONOMICS. IN PURSUIT OF THIS MISSION, THE ASSOCIATION PUBLISHES THE JOURNAL OF FINANCE AND HOLDS AN ANNUAL MEETING IN WHICH AND AT WHICH RESEARCH IN THE FIELD IS PRESENTED.
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IRS990/OtherExpensesGrp/ProgramServicesAmt135000
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IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0JAMES SCHALLHEIM
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1211247
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IRS990/ProgSrvcAccomActy3Grp/Desc0MAKING INTERVIEW VIDEOS OF PROMINENT CONTRIBUTORS TO FINANCIAL ECONOMICS FOR AFA'S HISTORY PROJECT AND MAKING THEM AVAILABLE TO THE PUBLIC ON THE ASSOCIATION'S WEBSITE.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ASSOCIATION HAS 16 MEMBERS OF THE BOARD WHO PARTICIPATE IN ITS GOVERNANCE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE MEMBERS OF THE BOARD ARE ELECTED BY THE MEMBERS OF THE ASSOCIATION.

Document Assets

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Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$14,803,668
Liabilities
$464,388
Net assets
$14,339,280
Revenue
$2,367,225
Expenses
$1,945,578
Net income
$421,647
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$29.3$1.76$27.6$1.80$2.37$0.57
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$26.7$1.91$24.8$2.87$2.57$0.29
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$24.7$1.21$23.5$2.10$1.54$0.57
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$27.4$1.04$26.3$1.93$1.57$0.37
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$22.1$1.24$20.9$2.20$1.92$0.28
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$21.4$0.87$20.5$3.26$2.14$1.12
2018Summary only. Only limited summary data is available for this year.$19.2$0.62$18.5$2.38$1.82$0.55
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$17.6$0.48$17.1$2.37$1.73$0.64
2016Detailed filing. Detailed filing data is available for this year.$16.0$0.58$15.4$2.42$2.06$0.36
2015Summary only. Only limited summary data is available for this year.$15.5$0.55$15.0$1.86$1.39$0.47
2014Detailed filing. Detailed filing data is available for this year.$14.8$0.46$14.3$2.37$1.95$0.42
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$13.6$0.37$13.2$1.89
2012Summary only. Only limited summary data is available for this year.$12.7$0.24$12.4$2.30$1.73$0.58
2011Summary only. Only limited summary data is available for this year.$11.0$0.21$10.7$2.09$1.43$0.66