Civic Intelligence

Foreign Exchange Professionals Association

990 • Fiscal year 2018 • EIN 47-2026757

Jan 01, 2018 to Dec 31, 2018 • Filed on Mar 05, 2019

Organization ProfileWWW.FXPA.ORG
C/O Heckler-80 Business Park Dr-205Armonk, NY 10504

(914) 232-9221

Siviq Scores

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

Liabilities / Assets

73rd percentile

0.09x

Higher debt load relative to assets than 73% of similar nonprofits.

2018 filings • NTEE S • <$500k nonprofits • Source year 2018

Liabilities / Revenue

75th percentile

0.08x

Higher debt load relative to revenue than 75% of similar nonprofits.

2018 filings • NTEE S • <$500k nonprofits • Source year 2018

Net Margin

62nd percentile

9.0%

Higher net margin than 62% of similar nonprofits.

2018 filings • NTEE S • <$500k nonprofits • Source year 2018

Top Officer Pay

76th percentile

$0

Higher top officer pay than 76% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2018 filings • NTEE S • <$500k nonprofits • Source year 2018

Asset Growth

72nd percentile

18%

Faster asset growth than 72% of similar nonprofits.

2018 filings • NTEE S • <$500k nonprofits • Annualized from 2017 to 2018

Revenue Growth

30th percentile

-13%

Faster revenue growth than 30% of similar nonprofits.

2018 filings • NTEE S • <$500k nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets73rd percentile

Assets

Up

$400,193

Up $60,018 (+18%) from 2017

Net Assets

Up

$365,643

Up $40,053 (+12%) from 2017

Liabilities

Up

$34,550

Up $19,965 (+137%) from 2017

Revenue And Expenses
Liabilities / Revenue75th percentileNet Margin62nd percentile

Revenue

Down

$443,636

Down $64,281 (-13%) from 2017

Expenses

Down

$403,583

Down $35,662 (-8.1%) from 2017

Net Income

Down

$40,053

Down $28,619 (-42%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth72nd percentile

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

$600K$400K$200K$0Assets 2014: $72,620Liabilities 2014: $23,750Net Assets 2014: $48,8702014Assets 2015: $159,134Liabilities 2015: $23,750Net Assets 2015: $135,3842015Assets 2016: $285,258Liabilities 2016: $28,340Net Assets 2016: $256,9182016Assets 2017: $340,175Liabilities 2017: $14,585Net Assets 2017: $325,5902017Assets 2018: $400,193Liabilities 2018: $34,550Net Assets 2018: $365,6432018Assets 2019: $431,509Liabilities 2019: $0Net Assets 2019: $431,5092019Assets 2020: $448,483Liabilities 2020: $10,000Net Assets 2020: $438,4832020Assets 2021: $416,021Liabilities 2021: $0Net Assets 2021: $416,0212021Assets 2022: $383,484Liabilities 2022: $70,000Net Assets 2022: $313,4842022Assets 2023: $219,324Liabilities 2023: $20,000Net Assets 2023: $199,3242023Assets 2024: $68,761Liabilities 2024: $20,000Net Assets 2024: $48,7612024

Highlighted filing

2018

Assets$400,193
Liabilities$34,550
Net Assets$365,643
Open 2018 Filing

Operations Trend

Revenue Growth30th percentile

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

$600K$400K$200K$0-$200KRevenue 2014: $232,640Expenses 2014: $183,770Net Income 2014: $48,8702014Revenue 2015: $522,083Expenses 2015: $435,569Net Income 2015: $86,5142015Revenue 2016: $561,660Expenses 2016: $440,126Net Income 2016: $121,5342016Revenue 2017: $507,917Expenses 2017: $439,245Net Income 2017: $68,6722017Revenue 2018: $443,636Expenses 2018: $403,583Net Income 2018: $40,0532018Revenue 2019: $426,667Expenses 2019: $360,801Net Income 2019: $65,8662019Revenue 2020: $375,000Expenses 2020: $368,026Net Income 2020: $6,9742020Revenue 2021: $330,000Expenses 2021: $352,462Net Income 2021: -$22,4622021Revenue 2022: $245,000Expenses 2022: $347,537Net Income 2022: -$102,5372022Revenue 2023: $240,000Expenses 2023: $354,160Net Income 2023: -$114,1602023Revenue 2024: $200,000Expenses 2024: $350,563Net Income 2024: -$150,5632024

Highlighted filing

2018

Revenue$443,636
Expenses$403,583
Net Income$40,053
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Mar 5, 2019
Return Version
2018v3.1
Gross Receipts
$443,636
Mission and Program Overview

Mission

To represent the collective interest of individuals and companies that participate in the institutional foreign exchange marketplace and to promote the need for sound, liquid, transparent, and competitive global currency markets to policy makers through education, research and advocacy.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$340,175$400,193▲ $60,018
Rtn Earn Endowment Incm Other Fnds$325,590$365,643▲ $40,053
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$340,175$400,193▲ $60,018
Liabilities
Accounts Payable and Accrued Expenses-$24,550-
Other Liabilities$14,585$10,000▼ $4,585
Total Liabilities$14,585$34,550▲ $19,965
Net Assets / Fund Balance
Total Net Assets Fund Balance$325,590$365,643▲ $40,053
Total Liabilities and Net Assets / Fund Balance$340,175$400,193▲ $60,018
Compensation and Service Providers
Top Officer Pay76th percentile

Board Members and Trustees

NameTitle
Chip LowryChairman
JONATHON O'DONNELLVice-chairman
Chris MatskoDirector
David GooneDirector
Jessica SohlDirector
Jill SigelbaumDirector
Joseph MollusoDirector
Kok Chong LamDirector
Lisa ShemieDirector
Stephen KomonDirector
Tahreem KamptonDirector
Tod Van NameDirector
Jason VitaleDirector & Secretary
Edgar RamonFormer Director
Harpal SandhuFormer Director
Neill PenneyFormer Director
Paul MillwardFormer Secretary
Sean TullyTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Mercury Strategies LLCLegal Services408 NEW JERSEY AVE SE, Washington, DC 20003$151,876
Capital Market Strategies INCConsulting Services309 EAST 49TH STREET SUITE 15C, New York, NY 10017$110,000
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$443,636
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$40,053
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$403,583
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
Fees for Services Other---$216,600
Fees for Services Legal---$167,439
Fees for Services Accounting---$12,600
Conferences and Meetings---$4,361
Insurance---$1,218
Other Expenses---$25
Total Functional Expenses$0$0$0$403,583
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
In-house lobbying only
No
Subject to proxy tax
Yes
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Advances$10,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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, Section B, Line 11B

“The 990 is available for review by the organization's trustee prior to filing.”

Form 990, Part VI, Section B, Line 12C

“The conflict of interest policy is reviewed annually by officers and directors of the organization. The organization obtains signed documentation from the officers and directors confirming receipt, understanding and compliance with the policy.”

Form 990, Part VI, Section C, Line 19

“Governing documents, conflict of interest policy, and financial statements are available upon request.”

Filing and Contact Details

Filer

Filer Name
Foreign Exchange Professionals
EIN
47-2026757
Phone
9142329221
Address
C/O HECKLER-80 BUSINESS PARK DR-205, ARMONK, NY 10504

Signing Officer

Name
Sean Tully
Title
Treasurer
Phone
9142329221
Signed
2019-03-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Sean Tully
Formed
2014
Legal Domicile
Dc
Voting Board Members
14
Independent Board Members
14
Employees
0
Volunteers
18

Preparer

Firm
HECKLER & O'KEEFE CPAS PC
Address
80 BUSINESS PARK DRIVE SUITE 205, ARMONK, NY 10504
Preparer
Joseph R Saulnier CPA
Phone
9142329221
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Consulting services 216,600.”

Raw XML Appendix395 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/TitleTxt9DIRECTOR
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IRS990/OtherLiabilitiesGrp/EOYAmt010000
IRS990/PartialLiquidationInd00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0SEAN TULLY
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/Desc0MEMBERSHIP DUES
IRS990/ProgramServiceRevenueGrp/Desc1SPONSORSHIP FEES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0440000
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt13636
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0440000
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt13636
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt00
IRS990/PYOtherExpensesAmt0439245
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt0507917
IRS990/PYRevenuesLessExpensesAmt068672
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt0439245
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0507917
IRS990/ReconcilationRevenueExpnssAmt040053
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt0325590
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0365643
IRS990/ScheduleBRequiredInd00
IRS990ScheduleC/AgreeCarryoverPriorYearInd00
IRS990ScheduleC/DuesAssessmentsAmt0443636
IRS990ScheduleC/OnlyInHouseLobbyingInd00
IRS990ScheduleC/SubstantiallyAllDuesNondedInd00
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt010000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0ADVANCES
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalLiabilityAmt010000
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE 990 IS AVAILABLE FOR REVIEW BY THE ORGANIZATION'S TRUSTEE PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE CONFLICT OF INTEREST POLICY IS REVIEWED ANNUALLY BY OFFICERS AND DIRECTORS OF THE ORGANIZATION. THE ORGANIZATION OBTAINS SIGNED DOCUMENTATION FROM THE OFFICERS AND DIRECTORS CONFIRMING RECEIPT, UNDERSTANDING AND COMPLIANCE WITH THE POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3CONSULTING SERVICES 216,600.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART IX, LINE 11G
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd01
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0340175
IRS990/TotalAssetsEOYAmt0400193
IRS990/TotalAssetsGrp/BOYAmt0340175
IRS990/TotalAssetsGrp/EOYAmt0400193
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0403583
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt014585
IRS990/TotalLiabilitiesEOYAmt034550
IRS990/TotalLiabilitiesGrp/BOYAmt014585
IRS990/TotalLiabilitiesGrp/EOYAmt034550
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0325590
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0365643
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceRevenueAmt0443636
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0443636
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0443636
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt018
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0340175
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0400193
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0C/O CME GROUP-300 VESEY STREET 7TH
IRS990/USAddress/AddressLine2Txt0FL
IRS990/USAddress/CityNm0NEW YORK
IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd010282
IRS990/VotingMembersGoverningBodyCnt014
IRS990/VotingMembersIndependentCnt014
IRS990/WebsiteAddressTxt0WWW.FXPA.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0SEAN TULLY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum09142329221
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-03-05
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FOREIGN EXCHANGE PROFESSIONALS
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0ASSOCIATION
ReturnHeader/Filer/BusinessNameControlTxt0FORE
ReturnHeader/Filer/EIN0472026757
ReturnHeader/Filer/PhoneNum09142329221
ReturnHeader/Filer/USAddress/AddressLine1Txt0C/O HECKLER-80 BUSINESS PARK DR-205
ReturnHeader/Filer/USAddress/CityNm0ARMONK
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
ReturnHeader/Filer/USAddress/ZIPCd010504
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId049710834EAF80994F25808D05B4EB9341A0F27B1
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId088E4B331CA6434734812C71026E02BD3C957DFD4
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt096.224.222.15
ReturnHeader/FilingSecurityInformation/IPDt02019-03-05
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ES
ReturnHeader/FilingSecurityInformation/IPTm007:58:49
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0132913243
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0HECKLER & O'KEEFE CPAS PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt080 BUSINESS PARK DRIVE SUITE 205
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0ARMONK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd010504
ReturnHeader/PreparerPersonGrp/PhoneNum09142329221
ReturnHeader/PreparerPersonGrp/PreparationDt02019-03-05
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JOSEPH R SAULNIER CPA
ReturnHeader/ReturnTs02019-03-05T07:42:31-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-01-01
ReturnHeader/TaxPeriodEndDt02018-12-31
ReturnHeader/TaxYr02018

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$400,193
Liabilities
$34,550
Net assets
$365,643
Revenue
$443,636
Expenses
$403,583
Net income
$40,053
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.69$0.20$0.49$2.00$3.51$1.51
2023Detailed filing. Detailed filing data is available for this year.$2.19$0.20$1.99$2.40$3.54$1.14
2022Detailed filing. Detailed filing data is available for this year.$3.83$0.70$3.13$2.45$3.48$1.03
2021Detailed filing. Detailed filing data is available for this year.$4.16$0.00$4.16$3.30$3.52$0.22
2020Detailed filing. Detailed filing data is available for this year.$4.48$0.10$4.38$3.75$3.68$0.07
2019Detailed filing. Detailed filing data is available for this year.$4.32$0.00$4.32$4.27$3.61$0.66
2018Detailed filing. Detailed filing data is available for this year.$4.00$0.35$3.66$4.44$4.04$0.40
2017Summary only. Only limited summary data is available for this year.$3.40$0.15$3.26$5.08$4.39$0.69
2016Summary only. Only limited summary data is available for this year.$2.85$0.28$2.57$5.62$4.40$1.22
2015Summary only. Only limited summary data is available for this year.$1.59$0.24$1.35$5.22$4.36$0.87
2014Summary only. Only limited summary data is available for this year.$0.73$0.24$0.49$2.33$1.84$0.49