Civic Intelligence

Center for Financial Training North Central States Inc

990 • Fiscal year 2019 • EIN 39-6006519

Jun 01, 2018 to May 31, 2019 • Filed on Dec 26, 2019

Organization ProfileWWW.CFTNCS.ORG
5215 N Ironwood RdGlendale, WI 53217

(414) 332-6468

Siviq Scores

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

Liabilities / Assets

86th percentile

0.29x

Higher debt load relative to assets than 86% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Liabilities / Revenue

86th percentile

0.16x

Higher debt load relative to revenue than 86% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Net Margin

14th percentile

-24%

Higher net margin than 14% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Top Officer Pay

95th percentile

$63,705

Higher top officer pay than 95% of similar nonprofits.

Top officer pay equals 28.0% of source-year revenue.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Asset Growth

18th percentile

-25%

Faster asset growth than 18% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Revenue Growth

25th percentile

-18%

Faster revenue growth than 25% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets86th percentile

Assets

Down

$123,898

Down $40,645 (-25%) from 2018

Net Assets

Down

$87,971

Down $55,562 (-39%) from 2018

Liabilities

Up

$35,927

Up $14,917 (+71%) from 2018

Revenue And Expenses
Liabilities / Revenue86th percentileNet Margin14th percentile

Revenue

Down

$227,716

Down $51,293 (-18%) from 2018

Expenses

Down

$283,278

Down $5,476 (-1.9%) from 2018

Net Income

Down

-$55,562

Down $45,817 (-470%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth18th percentile

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

$300K$200K$100K$0Assets 2012: $225,618Liabilities 2012: $16,138Net Assets 2012: $209,4802012Assets 2013: $201,503Liabilities 2013: $17,355Net Assets 2013: $184,1482013Assets 2014: $179,180Liabilities 2014: $15,595Net Assets 2014: $163,5852014Assets 2015: $181,709Liabilities 2015: $16,964Net Assets 2015: $164,7452015Assets 2016: $189,560Liabilities 2016: $24,772Net Assets 2016: $164,7882016Assets 2017: $175,211Liabilities 2017: $21,933Net Assets 2017: $153,2782017Assets 2018: $164,543Liabilities 2018: $21,010Net Assets 2018: $143,5332018Assets 2019: $123,898Liabilities 2019: $35,927Net Assets 2019: $87,9712019Assets 2020: $26,566Liabilities 2020: $0Net Assets 2020: $26,5662020

Highlighted filing

2019

Assets$123,898
Liabilities$35,927
Net Assets$87,971
Open 2019 Filing

Operations Trend

Revenue Growth25th percentile

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

$400K$200K$0-$200KRevenue 2012: $286,349Expenses 2012: $337,852Net Income 2012: -$51,5032012Revenue 2013: $265,627Expenses 2013: $290,959Net Income 2013: -$25,3322013Revenue 2014: $246,617Expenses 2014: $267,180Net Income 2014: -$20,5632014Revenue 2015: $271,176Expenses 2015: $270,016Net Income 2015: $1,1602015Revenue 2016: $358,697Expenses 2016: $358,654Net Income 2016: $432016Revenue 2017: $247,024Expenses 2017: $258,534Net Income 2017: -$11,5102017Revenue 2018: $279,009Expenses 2018: $288,754Net Income 2018: -$9,7452018Revenue 2019: $227,716Expenses 2019: $283,278Net Income 2019: -$55,5622019Revenue 2020: $86,851Expenses 2020: $148,256Net Income 2020: -$61,4052020

Highlighted filing

2019

Revenue$227,716
Expenses$283,278
Net Income-$55,562
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jun 1, 2018 to May 31, 2019
Signed
Dec 26, 2019
Return Version
2018v3.1
Gross Receipts
$227,716
Mission and Program Overview

Mission

The Center for Financial Training is dedicated to providing education and development solutions to continually meet the changing needs of the financial services industry.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$98,429$92,626▼ $5,803
Cash and Non-Interest-Bearing Accounts$36,143$11,273▼ $24,870
Accounts Receivable$11,965$5,969▼ $5,996
Land, Buildings, and Equipment, Net$7,708$5,208▼ $2,500
Prepaid Expenses and Deferred Charges$4,178$3,528▼ $650
Intangible Assets$4,421$3,025▼ $1,396
Inventories for Sale or Use$1,421$1,678▲ $257
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Total Assets$164,543$123,898▼ $40,645
Other Assets Total$278$591▲ $313
Liabilities
Accounts Payable and Accrued Expenses$10,125$25,441▲ $15,316
Other Liabilities$8,985$6,686▼ $2,299
Deferred Revenue$1,900$3,800▲ $1,900
Total Liabilities$21,010$35,927▲ $14,917
Net Assets / Fund Balance
Unrestricted Net Assets$143,533$87,971▼ $55,562
Total Net Assets Fund Balance$143,533$87,971▼ $55,562
Total Liabilities and Net Assets / Fund Balance$164,543$123,898▼ $40,645

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$5,208$14,361$19,569
Compensation and Service Providers
Top Officer Pay95th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Sandra KuehnExecutive DirecFT$63,705$63,705
Lori RuchPresident-$1,200$1,200

Board Members and Trustees

NameTitle
Bill NiebuhrBoard Member
Dawn SchimkeBoard Member
Jill BreitrickBoard Member
John VerreBoard Member
Kayla ThompsenBoard Member
Melanie SpencerBoard Member
Rachel DumkeBoard Member
Suzanne GoreckiBoard Member
Lawanda BaldwinSecretary
Dave Mauersenior advisor
Terri Petersonsenior advisor
Peter SchumacherTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$226,285
Investment Income
$1,431
Other Revenue
$0
Change in Net Assets
$-55,562
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$208,685
Salaries, Compensation, and Employee Benefits$74,593
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$33,200$32,000-$65,200
Office Expenses$20,156$10,347-$30,503
Other Expenses$9,836--$9,836
Travel$9,665--$9,665
Occupancy-$8,280-$8,280
Fees for Services Accounting-$6,862-$6,862
Advertising$5,588--$5,588
Payroll Taxes$2,746$2,425-$5,171
Other Salaries and Wages$4,222--$4,222
Depreciation Depletion-$3,896-$3,896
Insurance-$3,619-$3,619
Information Technology$2,763--$2,763
Fees for Services Other-$2,626-$2,626
All Other Expenses-$1,951-$1,951
Interest-$520-$520
Total Functional Expenses$210,752$72,526$0$283,278
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Capital Lease$6,686
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

“A copy of the completed 990 was emailed to all board members for review and comment.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“Board members receive a copy of the Conflict of Interest policy and are asked to sign that they received one.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“990 is available upon request.”

Filing and Contact Details

Filer

Filer Name
Center for Financial Training
EIN
39-6006519
Phone
4143326468
Address
5215 N IRONWOOD RD, GLENDALE, WI 53217

Signing Officer

Name
Lori Ruch
Title
President
Signed
2019-12-26
Discuss with paid preparer
Yes

Organization Details

Formed
2000
Legal Domicile
Wi
Voting Board Members
13
Independent Board Members
13
Employees
4
Volunteers
12

Preparer

Firm
Ritz Holman LLP
Address
330 E Kilbourn Ste 550, Milwaukee, WI 53202-3144
Preparer
Katy L Sommer
Phone
4142711451
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

“The Organization is exempt from income tax under Section 501(c)(3) of Internal Revenue Code and is classified as other than a private foundation. Management has reviewed all tax positions recognized in previously filed tax returns and those expected to be taken in future tax returns. As of May 31, 2019, the Organization had no amounts related to unrecognized income tax benefits and no amounts related to accrued interest and penalties. The Organization does not anticipate any significant changes to unrecognized income tax benefits over the next year.”

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IRS990/MissionDesc0The Center for Financial Training is dedicated to providing education and development solutions to continually meet the changing needs of the financial services industry.
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IRS990/NetAssetsOrFundBalancesEOYAmt087971
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IRS990/OtherExpensesGrp/Desc0speaker
IRS990/OtherExpensesGrp/Desc1seminar
IRS990/OtherExpensesGrp/Desc2education courses
IRS990/OtherExpensesGrp/Desc3textbooks
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IRS990/OtherExpensesGrp/ProgramServicesAmt146298
IRS990/OtherExpensesGrp/ProgramServicesAmt226891
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IRS990/ProgramServiceRevenueGrp/Desc2tuition income
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The Organization is exempt from income tax under Section 501(c)(3) of Internal Revenue Code and is classified as other than a private foundation. Management has reviewed all tax positions recognized in previously filed tax returns and those expected to be taken in future tax returns. As of May 31, 2019, the Organization had no amounts related to unrecognized income tax benefits and no amounts related to accrued interest and penalties. The Organization does not anticipate any significant changes to unrecognized income tax benefits over the next year.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
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IRS990ScheduleD/TotalLiabilityAmt06686
IRS990ScheduleE/ComplianceWithRevProc7550Ind0true
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0false
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0false
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0false
IRS990ScheduleE/MaintainScholarshipsRecsInd0false
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0POLICY WRITTEN IN CATALOG
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule E, Line 3 - Racially Nondiscriminatory Policy Publicized
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1Schedule E, Line 4 - Explanation of Records and Materials Not Maintained
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc2Schedule E, Line 5 - Explanation of Organization Discrimination by Race
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A COPY OF THE COMPLETED 990 WAS EMAILED TO ALL BOARD MEMBERS FOR REVIEW AND COMMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Board members receive a copy of the Conflict of Interest policy and are asked to sign that they received one.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2990 is available upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$123,898
Liabilities
$35,927
Net assets
$87,971
Revenue
$227,716
Expenses
$283,278
Net income
-$55,562
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2020Detailed filing. Detailed filing data is available for this year.$0.27$0.00$0.27$0.87$1.48$0.61
2019Detailed filing. Detailed filing data is available for this year.$1.24$0.36$0.88$2.28$2.83$0.56
2018Detailed filing. Detailed filing data is available for this year.$1.65$0.21$1.44$2.79$2.89$0.10
2017Detailed filing. Detailed filing data is available for this year.$1.75$0.22$1.53$2.47$2.59$0.12
2016Detailed filing. Detailed filing data is available for this year.$1.90$0.25$1.65$3.59$3.59$0.00
2015Summary only. Only limited summary data is available for this year.$1.82$0.17$1.65$2.71$2.70$0.01
2014Summary only. Only limited summary data is available for this year.$1.79$0.16$1.64$2.47$2.67$0.21
2013Summary only. Only limited summary data is available for this year.$2.02$0.17$1.84$2.66$2.91$0.25
2012Summary only. Only limited summary data is available for this year.$2.26$0.16$2.09$2.86$3.38$0.52