Consumer Federation of America

“CFA membership is limited to non-profit organizations that promote the consumer interest. CFA's over 250 members include about 100 state and local advocacy and education groups, about 50 national advocacy and education groups, about 100 consumer cooperative groups (credit unions, rural electric, and other cooperatives), public power groups, and state and local consumer protection agencies.”

“CFA membership entitles member organizations to elect the Board of Directors.”

“A draft of the 990 is reviewed by the organization prior to finalizing the return. The completed 990 form is available to Board members prior to filing.”

“Once a year Board Members and key employees are asked to disclose for the record any perceived conflict of interest, in a signed written statement identifying to the best of their knowledge: (1) any entity of which the director or key employee is an officer, director, trustee, member, owner or employee with which CFA has a relationship, (2) any transaction in which CFA is a participant and in which the director or key employee might have a conflicting interest, and (3) any transactions your organization entered into with another Board Member or Board Member's organization. Copies of all such statements are provided to the chair of CFA's Board. Exclusion of Conflicted Person From Decision-Making: The disinterested members of the Board, or in the absence of a Board meeting, the disinterested members of the Executive Committee of the Board, may determine whether the disclosed conflict is such that the Board Member is excluded from decision-making related to or giving rise to the conflict. Any person who is found to be conflicted shall not be present or participate in Board or committee deliberations or vote on the matter from which the conflict arises. The conflicted person is prohibited from attempting to improperly influence the deliberation or voting on the matter. CFA Board members periodically review the conflict of interest policy and address specific questions when they arise.”

“CFA uses outside comparability data for review of Executive Director compensation and the current salary of the Executive Director is set by the Executive Committee of the Board of Directors.”

“The organization's governing documents, conflict of interest policy, and financial statements are made available to the public upon request.”

“CFA is a research, advocacy, education, and service organization. As a research organization, CFA investigates consumer issues, behavior, and attitudes through surveys, focus groups, investigative reports, economic analysis, and policy analysis. The findings of such research are published in reports that assist consumer advocates and policymakers as well as individual consumers. They provide an important basis for the policy positions and work of the organization. As an advocacy organization, CFA works to advance pro-consumer policies on a variety of issues before Congress, the White House, federal and state regulatory agencies, state legislatures, and the courts. We communicate and work with public officials to promote beneficial policies, oppose harmful ones, and ensure a balance debate on issues important to consumers. As an education organization, CFA disseminates information on consumer issues to the public and news media, as well as to policymakers and other public interest advocates. To do so, we utilize reports, books, brochures, news releases, press conferences, a newsletter, conferences, forums, and this website. Of special importance are the on-line newsletter CFAnews Update, three annual conferences Consumer Assembly, Financial Services Conference, and Food Policy Conference. As a service organization, CFA assists individuals and organizations. Our principal service to individuals is through the America Saves campaign which we organized in 2000 and have managed since then. Our services to organizations, with a special focus on CFA member groups, includes CFAnews Update, our three annual conferences, our State and Local Resource Center, our Consumer Cooperative Advisory Group, and our annual Awards Dinner that recognizes distinguished public, consumer, and media service.”

“Advocacy - CFA works to advance pro-consumer policy on a variety of issues before Congress, the White House, federal and state regulatory agencies, state legislatures, and the courts. CFA's staff works with public officials to promote beneficial policies and to ensure a balanced debate on important consumer issues.”

“We provide free financial tools, savings services, advice, and resources that help Americans from every income level take the steps needed to take charge of their finances and manage money more effectively. By inspiring a strong savings ethic in people, we can improve the financial health of our schools and businesses, our communities, and our nation. America Saves also targets two populations with unique savings needs through: Veterans Saves- A component of America Saves and a partner in the Department of Defense's Financial Readiness Campaign, which seeks to motivate, support, and encourage veterans and their families to save money, reduce debt, and build wealth. America Saves for Young Workers- A program to support and motivate young workers to use direct deposit to save part of their pay through their first-time work experience.”

“The Organization's Executive Committee assumes responsibility for oversight of the audit of its financial statements. The process is consistent with previous years.”