Civic Intelligence

Global Financial Integrity Inc

990 • Fiscal year 2022 • EIN 45-3359420

Jan 01, 2022 to Dec 31, 2022 • Filed on Oct 31, 2023

Organization Profilewww.gfintegrity.org

View Organization Page

1100 17th Street NW STE 505Washington, DC 20036

(202) 293-0740

Siviq Scores

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

Liabilities / Assets

90th percentile

0.74x

Higher debt load relative to assets than 90% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

78th percentile

0.44x

Higher debt load relative to revenue than 78% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

63rd percentile

14%

Higher net margin than 63% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

87th percentile

$173,928

Higher top officer pay than 87% of similar nonprofits.

Top officer pay equals 11.4% of source-year revenue.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Asset Growth

95th percentile

125%

Faster asset growth than 95% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

63rd percentile

17%

Faster revenue growth than 63% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets90th percentile

Assets

Up

$892,536

Up $496,679 (+125%) from 2021

Net Assets

Up

$228,262

Up $217,481 (+2017%) from 2021

Liabilities

Up

$664,274

Up $279,198 (+73%) from 2021

Revenue And Expenses
Liabilities / Revenue78th percentileNet Margin63rd percentile

Revenue

Up

$1,524,219

Up $218,921 (+17%) from 2021

Expenses

Down

$1,306,738

Down $244,871 (-16%) from 2021

Net Income

Up

$217,481

Up $463,792 (+188%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth95th percentile

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

$1.5M$1.0M$500K$0-$500KAssets 2013: $721,966Liabilities 2013: $558,070Net Assets 2013: $163,8962013Assets 2014: $475,087Liabilities 2014: $398,769Net Assets 2014: $76,3182014Assets 2015: $1,431,285Liabilities 2015: $1,064,766Net Assets 2015: $366,5192015Assets 2016: $554,227Liabilities 2016: $457,959Net Assets 2016: $96,2682016Assets 2017: $199,925Liabilities 2017: $86,371Net Assets 2017: $113,5542017Assets 2018: $634,781Liabilities 2018: $796,464Net Assets 2018: -$161,6832018Assets 2019: $380,468Liabilities 2019: $603,724Net Assets 2019: -$223,2562019Assets 2020: $821,203Liabilities 2020: $564,111Net Assets 2020: $257,0922020Assets 2021: $395,857Liabilities 2021: $385,076Net Assets 2021: $10,7812021Assets 2022: $892,536Liabilities 2022: $664,274Net Assets 2022: $228,2622022Assets 2023: $637,940Liabilities 2023: $575,122Net Assets 2023: $62,8182023Assets 2024: $1,001,548Liabilities 2024: $961,181Net Assets 2024: $40,3672024

Highlighted filing

2022

Assets$892,536
Liabilities$664,274
Net Assets$228,262
Open 2022 Filing

Operations Trend

Revenue Growth63rd percentile

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2013: $2,424,001Expenses 2013: $2,260,105Net Income 2013: $163,8962013Revenue 2014: $1,188,285Expenses 2014: $1,275,863Net Income 2014: -$87,5782014Revenue 2015: $1,737,202Expenses 2015: $1,447,001Net Income 2015: $290,2012015Revenue 2016: $1,547,658Expenses 2016: $1,817,909Net Income 2016: -$270,2512016Revenue 2017: $1,283,064Expenses 2017: $1,265,778Net Income 2017: $17,2862017Revenue 2018: $739,531Expenses 2018: $1,014,768Net Income 2018: -$275,2372018Revenue 2019: $1,289,229Expenses 2019: $1,350,802Net Income 2019: -$61,5732019Revenue 2020: $1,755,922Expenses 2020: $1,275,574Net Income 2020: $480,3482020Revenue 2021: $1,305,298Expenses 2021: $1,551,609Net Income 2021: -$246,3112021Revenue 2022: $1,524,219Expenses 2022: $1,306,738Net Income 2022: $217,4812022Revenue 2023: $1,519,106Expenses 2023: $1,684,550Net Income 2023: -$165,4442023Revenue 2024: $1,824,449Expenses 2024: $1,846,900Net Income 2024: -$22,4512024

Highlighted filing

2022

Revenue$1,524,219
Expenses$1,306,738
Net Income$217,481
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Oct 31, 2023
Return Version
2022v5.0
Gross Receipts
$1,524,219
Mission and Program Overview

Mission

Global financial integrity works to curtail illicit financial flows by conducting groundbreaking research, promoting pragmatic policy solutions, and advising governments.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$316,439$765,752▲ $449,313
Accounts Receivable$45,489$62,053▲ $16,564
Prepaid Expenses and Deferred Charges$9,711$23,345▲ $13,634
Land, Buildings, and Equipment, Net$1,590$122▼ $1,468
Total Assets$395,857$892,536▲ $496,679
Other Assets Total$22,628$41,264▲ $18,636
Liabilities
Deferred Revenue$260,361$585,926▲ $325,565
Other Liabilities-$49,750-
Accounts Payable and Accrued Expenses$124,715$28,598▼ $96,117
Total Liabilities$385,076$664,274▲ $279,198
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$10,781$228,262▲ $217,481
Total Net Assets Fund Balance$10,781$228,262▲ $217,481
Total Liabilities and Net Assets / Fund Balance$395,857$892,536▲ $496,679

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$122$34,525$34,647
Other Assets Org$41,264--
Compensation and Service Providers
Top Officer Pay87th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Thomas A Cardamone JrPresident CEOFT$150,642$23,286$173,928

Board Members and Trustees

NameTitle
Lord Daniel BrennanChair
Raymond BakerFounding President Treasurer
Dr Rafael EspadaVice Chair
Caroline Kende-RobbMember
John CassaraMember
Leonard McCarthyMember
Sarah PrayMember
Segun ApataMember
Dr Huguette LabelleSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$166,249
Program Service Revenue
$1,357,970
Investment Income
$0
Other Revenue
$0
All Other Contributions
$166,249
Change in Net Assets
$217,481

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported Amount
Other Non Cash Contri Table1$54,545
Total Noncash Contributions1$54,545

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,524,219
Revenue Not Reported on Form 990
$143,931
Total Revenue per Audited Statements
$1,668,150
Total Revenue per Form 990
$1,524,219
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$828,491
Other Expenses$478,247
Total Fundraising Expense$31,083
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$499,346$18,178$18,519$536,043
Office Expenses$219,050$10,182$688$229,920
Current Officers, Directors, Trustees, and Key Employees$140,329$5,109$5,204$150,642
Fees for Services Other$140,392$4,829-$145,221
Other Expenses$62,003$1,028-$63,031
Other Employee Benefits$58,457$2,128$2,168$62,753
Payroll Taxes$52,992$1,929$1,965$56,886
Pension Plan Contributions$20,649$752$766$22,167
Fees for Services Accounting-$21,388-$21,388
Travel$16,914-$1,637$18,551
Fees for Services Legal--$136$136
Total Functional Expenses$1,210,132$65,523$31,083$1,306,738

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,450,669
Expenses per Audited Statements$1,306,738
Total Expenses per Form 990$1,306,738
Expenses Not Reported on Form 990$143,931
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
Lease Liability$49,750
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Committee meeting documentation Part VI line 8B

“There are no committees with authority to act on behalf of the governing body.”

Form 990 governing body review Part VI line 11

“A draft of the form 990 is emailed to each board member and they are given 5 business days to respond with questions, comments, concerns, or their approval. GFI assumes acceptance if they havent heard otherwise within 5 business days.”

Conflict of interest policy compliance Part VI line 12C

“The Organization has a documented conflict of interest policy and annually requires board members to complete a conflict of interest certification that is reviewed by the managing director and maintained on file.”

CEO executive director top management comp Part VI line 15A

“The Organization has a documented employee handbook that includes compensation policies that require review of independent compensation data by the Board of Directors in determining the compensation of officers and key employees and this data is maintained on file.”

Other officer or key employee compensation Part VI line 15B

“The Organization has a documented employee handbook that includes compensation policies that require review of independent compensation data by the Board of Directors in determining the compensation of officers and key employees and this data is maintained on file.”

Form 990 availability to public Part VI line 18

“Financial statements only are provided on GFIs website.”

Governing documents etc available to public Part VI line 19

“Financial statements only are provided on GFIs website.”

Filing and Contact Details

Filer

Filer Name
Global Financial Integrity
EIN
45-3359420
Address
1100 17th Street NW STE 505, Washington, DC 20036

Signing Officer

Name
Thomas A Cardamone Jr
Title
President CEO
Phone
2022930740
Signed
2023-10-31
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Thomas A Cardamone Jr
Formed
2011
Legal Domicile
Dc
Voting Board Members
9
Independent Board Members
9
Employees
11
Volunteers
9

Preparer

Firm
Mullins PC
Address
7625 Wisconsin Avenue, Bethesda, MD 20814
Preparer
John Mullins
Phone
2027706371
Supplemental Narrative

Additional Explanations

Audited by an independent accountant Part XII line 2B

“The Organization has a committee that assumes responsibility for oversight of the audit of its financial statements and selection of an independent auditor. This process has not changed from the prior year.”

List of other fees for services expenses Part IX line 11G

“Africa $52,400Colombia $22,300General Research $22,250Trade Database $43,442”

Financial Statement Notes

Footnote for uncertain tax position under FIN 48 (Part X)

“GFI is exempt from Federal and local income taxes under section 501(c)(3) of the internal revenue code on any net income derived from activities related to its exempt purpose. This code section enables GFI to accept donations that qualify as charitable contributions to the donor. GFI is subject to tax on net income from unrelated business activities. For the years ended December 31, 2022 and 2021, GFI did not recognize income tax expense in the accompanying financial statements as there was no unrelated business taxable income. GFI is not aware of any activities that would jeopardize its tax exempt status that would require recognition in the accompanying financial statements, pursuant to accounting standards codification (ASC) for income taxes. Generally, tax returns are subject to examination by taxing authorities for up to three years from the date a completed return is filed. If there are material omissions of income, tax returns may be subject to examination for up to six years. It is GFIs policy to recognize interest and/ or penalties related to uncertain taxpositions, if any, in income tax expense. As of December 31, 2022 and 2021, GFI did not recognize a liability as there were no uncertain tax positions.”

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IRS990/ProgSrvcAccomActy2Grp/Desc0Advocacy and Technology: Advocacy- Advises developing country governments on effective policy solutions, and promotes pragmatic transparency measures in the international financial system as a means to global development and security. Technology- GF Trade is a proprietary risk assessment application that enables customs officials to determine if goods are priced outside typical ranges for comparable products. The system provides officials with real- time price comparisons for goods in the port with price ranges for the same product based on global trade information, which can be used to determine if further investigation is warranted. The backbone of the system is trade data from the worlds largest trading countries. GF Trade is an essential tool to assist governments in maximizing domestic resource mobilization.
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0GFI is exempt from Federal and local income taxes under section 501(c)(3) of the internal revenue code on any net income derived from activities related to its exempt purpose. This code section enables GFI to accept donations that qualify as charitable contributions to the donor. GFI is subject to tax on net income from unrelated business activities. For the years ended December 31, 2022 and 2021, GFI did not recognize income tax expense in the accompanying financial statements as there was no unrelated business taxable income. GFI is not aware of any activities that would jeopardize its tax exempt status that would require recognition in the accompanying financial statements, pursuant to accounting standards codification (ASC) for income taxes. Generally, tax returns are subject to examination by taxing authorities for up to three years from the date a completed return is filed. If there are material omissions of income, tax returns may be subject to examination for up to six years. It is GFIs policy to recognize interest and/ or penalties related to uncertain taxpositions, if any, in income tax expense. As of December 31, 2022 and 2021, GFI did not recognize a liability as there were no uncertain tax positions.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Footnote for uncertain tax position under FIN 48 (Part X)
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0Thomas A Cardamone Jr
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0President CEO
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0There are no committees with authority to act on behalf of the governing body.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A draft of the form 990 is emailed to each board member and they are given 5 business days to respond with questions, comments, concerns, or their approval. GFI assumes acceptance if they havent heard otherwise within 5 business days.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The Organization has a documented conflict of interest policy and annually requires board members to complete a conflict of interest certification that is reviewed by the managing director and maintained on file.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The Organization has a documented employee handbook that includes compensation policies that require review of independent compensation data by the Board of Directors in determining the compensation of officers and key employees and this data is maintained on file.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The Organization has a documented employee handbook that includes compensation policies that require review of independent compensation data by the Board of Directors in determining the compensation of officers and key employees and this data is maintained on file.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Financial statements only are provided on GFIs website.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Financial statements only are provided on GFIs website.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7The Organization has a committee that assumes responsibility for oversight of the audit of its financial statements and selection of an independent auditor. This process has not changed from the prior year.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8Africa $52,400Colombia $22,300General Research $22,250Trade Database $43,442
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Committee meeting documentation Part VI line 8b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Conflict of interest policy compliance Part VI line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3CEO executive director top management comp Part VI line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Other officer or key employee compensation Part VI line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990 availability to public Part VI line 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7Audited by an independent accountant Part XII line 2b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8List of other fees for services expenses Part IX line 11g
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IRS990/TotalGrossUBIAmt00
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IRS990/TotalLiabilitiesEOYAmt0664274
IRS990/TotalLiabilitiesGrp/BOYAmt0385076
IRS990/TotalLiabilitiesGrp/EOYAmt0664274

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$892,536
Liabilities
$664,274
Net assets
$228,262
Revenue
$1,524,219
Expenses
$1,306,738
Net income
$217,481
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.00$0.96$0.04$1.82$1.85$0.02
2023Summary only. Only limited summary data is available for this year.$0.64$0.58$0.06$1.52$1.68$0.17
2022Detailed filing. Detailed filing data is available for this year.$0.89$0.66$0.23$1.52$1.31$0.22
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.40$0.39$0.01$1.31$1.55$0.25
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.82$0.56$0.26$1.76$1.28$0.48
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.38$0.60$0.22$1.29$1.35$0.06
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.63$0.80$0.16$0.74$1.01$0.28
2017Summary only. Only limited summary data is available for this year.$0.20$0.09$0.11$1.28$1.27$0.02
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.55$0.46$0.10$1.55$1.82$0.27
2015Detailed filing. Detailed filing data is available for this year.$1.43$1.06$0.37$1.74$1.45$0.29
2014Detailed filing. Detailed filing data is available for this year.$0.48$0.40$0.08$1.19$1.28$0.09
2013Detailed filing. Detailed filing data is available for this year.$0.72$0.56$0.16$2.42$2.26$0.16
Peer Organizations

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