Civic Intelligence

Foreign Exchange Professionals Association

990 • Fiscal year 2022 • EIN 47-2026757

Jan 01, 2022 to Dec 31, 2022 • Filed on Jul 06, 2023

Organization ProfileWWW.FXPA.ORG
CO Heckler-200 Katonah Ave Ste 14AKatonah, NY 10536

(914) 232-9221

Siviq Scores

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

Liabilities / Assets

77th percentile

0.18x

Higher debt load relative to assets than 77% of similar nonprofits.

2022 filings • NTEE S40 • <$500k nonprofits • Source year 2022

Liabilities / Revenue

85th percentile

0.29x

Higher debt load relative to revenue than 85% of similar nonprofits.

2022 filings • NTEE S40 • <$500k nonprofits • Source year 2022

Net Margin

11th percentile

-42%

Higher net margin than 11% of similar nonprofits.

2022 filings • NTEE S40 • <$500k nonprofits • Source year 2022

Top Officer Pay

79th percentile

$0

Higher top officer pay than 79% of similar nonprofits.

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

2022 filings • NTEE S40 • <$500k nonprofits • Source year 2022

Asset Growth

33rd percentile

-7.8%

Faster asset growth than 33% of similar nonprofits.

2022 filings • NTEE S40 • <$500k nonprofits • Annualized from 2021 to 2022

Revenue Growth

16th percentile

-26%

Faster revenue growth than 16% of similar nonprofits.

2022 filings • NTEE S40 • <$500k nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets77th percentile

Assets

Down

$383,484

Down $32,537 (-7.8%) from 2021

Net Assets

Down

$313,484

Down $102,537 (-25%) from 2021

Liabilities

Up

$70,000

Up $70,000 from 2021

Revenue And Expenses
Liabilities / Revenue85th percentileNet Margin11th percentile

Revenue

Down

$245,000

Down $85,000 (-26%) from 2021

Expenses

Down

$347,537

Down $4,925 (-1.4%) from 2021

Net Income

Down

-$102,537

Down $80,075 (-356%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth33rd 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

2022

Assets$383,484
Liabilities$70,000
Net Assets$313,484
Open 2022 Filing

Operations Trend

Revenue Growth16th 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

2022

Revenue$245,000
Expenses$347,537
Net Income-$102,537
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Jul 6, 2023
Return Version
2022v5.0
Gross Receipts
$245,000
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$361,021$382,789▲ $21,768
Rtn Earn Endowment Incm Other Fnds$416,021$313,484▼ $102,537
Accounts Receivable$55,000--
Prepaid Expenses and Deferred Charges-$695-
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$416,021$383,484▼ $32,537
Liabilities
Accounts Payable and Accrued Expenses-$50,000-
Other Liabilities$0$20,000▲ $20,000
Total Liabilities$0$70,000▲ $70,000
Net Assets / Fund Balance
Total Net Assets Fund Balance$416,021$313,484▼ $102,537
Total Liabilities and Net Assets / Fund Balance$416,021$383,484▼ $32,537
Compensation and Service Providers
Top Officer Pay79th percentile

Board Members and Trustees

NameTitle
Susan DauberChairperson
Chip LowryVice-chairperson
Chris Leonard-appletonDirector
Chris MatskoDirector
Kok Chong LamDirector
Martin KnudsenDirector
Mike MargolisDirector
Lauren Rosborough WattSecretary
Paul HoustonTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Steptop & Johnson LLPLegal Services1330 CONNECTICUT AVENUE NW, Washington, DC 20036$188,006
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$245,000
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-102,537
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$347,537
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 Legal---$238,005
Fees for Services Other---$95,000
Fees for Services Accounting---$9,600
Advertising---$2,608
Information Technology---$1,382
Insurance---$822
Other Expenses---$120
Total Functional Expenses$0$0$0$347,537
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
Member Dues Advance$20,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
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
CO HECKLER-200 KATONAH AVE STE 14A, KATONAH, NY 10536

Signing Officer

Name
Kenneth Lowry
Title
Vice Chair
Phone
9142329221
Signed
2023-07-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kenneth Lowry
Formed
2014
Legal Domicile
Dc
Voting Board Members
11
Independent Board Members
11
Employees
0
Volunteers
11

Preparer

Firm
HECKLER & O'KEEFE CPAS PC
Address
200 KATONAH AVE SUITE 14A, KATONAH, NY 10536
Preparer
Joseph R Saulnier CPA
Phone
9142329221
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Consulting services 95,000.”

Raw XML Appendix320 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.

Path#Value
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IRS990/ActivityOrMissionDesc0TO 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.
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IRS990/Form990PartVIISectionAGrp/TitleTxt0VICE-CHAIRPERSON
IRS990/Form990PartVIISectionAGrp/TitleTxt1DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt7CHAIRPERSON
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
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IRS990/GrantsToOrganizationsInd00
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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 95,000.
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
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IRS990/USAddress/AddressLine1Txt0110 STUART ST APT 22E
IRS990/USAddress/CityNm0BOSTON
IRS990/USAddress/StateAbbreviationCd0MA
IRS990/USAddress/ZIPCd002116
IRS990/VotingMembersGoverningBodyCnt011
IRS990/VotingMembersIndependentCnt011
IRS990/WebsiteAddressTxt0WWW.FXPA.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0KENNETH LOWRY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0VICE CHAIR
ReturnHeader/BusinessOfficerGrp/PhoneNum09142329221
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-07-06
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FOREIGN EXCHANGE PROFESSIONALS
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0ASSOCIATION
ReturnHeader/Filer/BusinessNameControlTxt0FORE
ReturnHeader/Filer/EIN0472026757
ReturnHeader/Filer/PhoneNum09142329221
ReturnHeader/Filer/USAddress/AddressLine1Txt0CO HECKLER-200 KATONAH AVE STE 14A
ReturnHeader/Filer/USAddress/CityNm0KATONAH
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
ReturnHeader/Filer/USAddress/ZIPCd010536
ReturnHeader/IRSResponsiblePrtyInfoCurrInd00
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0132913243
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0HECKLER & O'KEEFE CPAS PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0200 KATONAH AVE SUITE 14A
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0KATONAH
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd010536
ReturnHeader/PreparerPersonGrp/PhoneNum09142329221
ReturnHeader/PreparerPersonGrp/PreparationDt02023-07-06
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JOSEPH R SAULNIER CPA
ReturnHeader/ReturnTs02023-07-06T12:52:45-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0KENNETH
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0LOWRY
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$383,484
Liabilities
$70,000
Net assets
$313,484
Revenue
$245,000
Expenses
$347,537
Net income
-$102,537
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