Civic Intelligence

Interactive Financial Exchange Forum Inc

990EZ • Fiscal year 2016 • EIN 54-1964448

Jul 01, 2015 to Jun 30, 2016 • Filed on Mar 01, 2017

Organization Profilewww.ifxforum.org
401 Edgewater Place Suite 600Wakefield, MA 01880

(781) 246-0500

Siviq Scores

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

Liabilities / Assets

96th percentile

0.90x

Higher debt load relative to assets than 96% of similar nonprofits.

2016 filings • 501(c)6 • <$500k nonprofits • Source year 2016

Liabilities / Revenue

96th percentile

0.63x

Higher debt load relative to revenue than 96% of similar nonprofits.

2016 filings • 501(c)6 • <$500k nonprofits • Source year 2016

Net Margin

24th percentile

-8.3%

Higher net margin than 24% of similar nonprofits.

2016 filings • 501(c)6 • <$500k nonprofits • Source year 2016

Top Officer Pay

89th percentile

$60,000

Higher top officer pay than 89% of similar nonprofits.

Top officer pay equals 30.2% of source-year revenue.

2016 filings • 501(c)6 • <$500k nonprofits • Source year 2016

Asset Growth

17th percentile

-19%

Faster asset growth than 17% of similar nonprofits.

2016 filings • 501(c)6 • <$500k nonprofits • Annualized from 2015 to 2016

Revenue Growth

21st percentile

-15%

Faster revenue growth than 21% of similar nonprofits.

2016 filings • 501(c)6 • <$500k nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets96th percentile

Assets

Down

$139,008

Down $33,483 (-19%) from 2015

Net Assets

Down

$13,917

Down $16,552 (-54%) from 2015

Liabilities

Down

$125,091

Down $16,931 (-12%) from 2015

Revenue And Expenses
Liabilities / Revenue96th percentileNet Margin24th percentile

Revenue

Down

$198,497

Down $36,062 (-15%) from 2015

Expenses

Down

$215,049

Down $15,442 (-6.7%) from 2015

Net Income

Down

-$16,552

Down $20,620 (-507%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth17th percentile

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

$200K$150K$100K$50K$0-$50KAssets 2012: $161,780Liabilities 2012: $143,323Net Assets 2012: $18,4572012Assets 2013: $185,999Liabilities 2013: $132,966Net Assets 2013: $53,0332013Assets 2014: $170,689Liabilities 2014: $144,288Net Assets 2014: $26,4012014Assets 2015: $172,491Liabilities 2015: $142,022Net Assets 2015: $30,4692015Assets 2016: $139,008Liabilities 2016: $125,091Net Assets 2016: $13,9172016Assets 2017: $130,809Liabilities 2017: $139,631Net Assets 2017: -$8,8222017

Highlighted filing

2016

Assets$139,008
Liabilities$125,091
Net Assets$13,917
Open 2016 Filing

Operations Trend

Revenue Growth21st percentile

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

$300K$200K$100K$0-$100KRevenue 2012: $229,531Expenses 2012: $211,427Net Income 2012: $18,1042012Revenue 2013: $232,399Expenses 2013: $197,823Net Income 2013: $34,5762013Revenue 2014: $213,195Expenses 2014: $239,827Net Income 2014: -$26,6322014Revenue 2015: $234,559Expenses 2015: $230,491Net Income 2015: $4,0682015Revenue 2016: $198,497Expenses 2016: $215,049Net Income 2016: -$16,5522016Revenue 2017: $196,517Expenses 2017: $219,256Net Income 2017: -$22,7392017

Highlighted filing

2016

Revenue$198,497
Expenses$215,049
Net Income-$16,552
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Mar 1, 2017
Return Version
2015v3.0
Gross Receipts
$198,497
Mission and Program Overview

Mission

The purpose of the Interactive Financial Exchange Forum is to facilitate the development of a robust XML framework for the electronic business to business exchange of data among financial service institutions around the world.

Program Services

DescriptionGrantsExpenses
The Interactive Financial Exchange Forum was formed in 1997 to create a messaging standard for financial services that would address the challenges faced with the advent of network-based computing models. Through the use of Committees and working groups, the Forum works to facilitate the design of a next generetion XML standard that would be usable in many types of environments, extensible to cover many types of financial transactions, and globally focused in recognition of the increased need to communicate around the world.--
Compensation and Service Providers
Top Officer Pay89th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Richard P UrbanPresidentFT$50,000$10,000$60,000
Anita BradyChairperson-$0--
Victor DosseyTreasurer-$0--
Murray HeldonSecretary-$0--
Ewan McGuireDirector-$0--
David MossDirector-$0--
Frederique SlevinDirector-$0--
Mark A SchafferDirector-$0--
Filing and Contact Details

Filer

Filer Name
Interactive Financial Exchange Forum
EIN
54-1964448
Phone
7812460500
Address
401 Edgewater Place Suite 600, Wakefield, MA 01880

Signing Officer

Name
Anita Brady
Title
Chairperson
Signed
2017-03-01
Discuss with paid preparer
Yes

Preparer

Firm
Ruane & Company LLP
Address
12 Alfred Street Suite 206, Woburn, MA 01801
Preparer
Thomas M Ruane CPA
Phone
7816430090
Supplemental Narrative

Additional Explanations

Other Expenses.1002

“Office Expenses $3092”

Other Expenses.1005

“Travel $29940”

Other Expenses.1012

“Insurance $2062”

Other Expenses.1

“Marketing Communications $10261”

Other Expenses.2

“Payroll Service Fees $2121”

Other Expenses.3

“Webex & Kavi $1764”

Other Expenses.4

“Hosting $1159”

Other Expenses.7

“Bank Service Charges $5”

Other Assets.1005

“Accounts Receivable - Beginning $40965 Accounts Receivable - Ending $14980”

Other Assets.1011

“Prepaid Expenses and Deferred Charges - Beginning $1514 Prepaid Expenses and Deferred Charges - Ending $1495”

Total Liabilities.1001

“Accounts Payable and Accrued Expenses - Beginning $14788 Accounts Payable and Accrued Expenses - Ending $8161”

Total Liabilities.1003

“Deferred Revenue - Beginning $124483 Deferred Revenue - Ending $102232”

Total Liabilities.1

“Accrued Payroll - Beginning $1938 Accrued Payroll - Ending $1938”

Total Liabilities.2

“Accrued Payroll Taxes - Beginning $813 Accrued Payroll Taxes - Ending $807”

Total Liabilities.3

“Accrued Expenses - Beginning $0 Accrued Expenses - Ending $11953”

Raw XML Appendix158 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
IRS990EZ/ActivitiesNotPreviouslyRptInd0false
IRS990EZ/BooksInCareOfDetail/PersonNm0Virtual Inc
IRS990EZ/BooksInCareOfDetail/PhoneNum07812460500
IRS990EZ/BooksInCareOfDetail/USAddress/AddressLine1Txt0401 Edgewater Place Suite 600
IRS990EZ/BooksInCareOfDetail/USAddress/CityNm0Wakefield
IRS990EZ/BooksInCareOfDetail/USAddress/StateAbbreviationCd0MA
IRS990EZ/BooksInCareOfDetail/USAddress/ZIPCd001880
IRS990EZ/CashSavingsAndInvestmentsGrp/BOYAmt0130012
IRS990EZ/CashSavingsAndInvestmentsGrp/EOYAmt0122533
IRS990EZ/ChgMadeToOrgnzngDocNotRptInd0false
IRS990EZ/CompensationOfHghstPdCntrctGrp/BusinessName/BusinessNameLine1Txt0Virtual Inc
IRS990EZ/CompensationOfHghstPdCntrctGrp/CompensationAmt084990
IRS990EZ/CompensationOfHghstPdCntrctGrp/ServiceTypeTxt0Management
IRS990EZ/CompensationOfHghstPdCntrctGrp/USAddress/AddressLine1Txt0401 Edgewater Place Ste 600
IRS990EZ/CompensationOfHghstPdCntrctGrp/USAddress/CityNm0Wakefield
IRS990EZ/CompensationOfHghstPdCntrctGrp/USAddress/StateAbbreviationCd0MA
IRS990EZ/CompensationOfHghstPdCntrctGrp/USAddress/ZIPCd001880
IRS990EZ/CostOfGoodsSoldAmt00
IRS990EZ/CostOrOtherBasisExpenseSaleAmt00
IRS990EZ/DonorAdvisedFndsInd0false
IRS990EZ/ExcessOrDeficitForYearAmt0-16552
IRS990EZ/FeesAndOtherPymtToIndCntrctAmt076450
IRS990EZ/ForeignFinancialAccountInd0false
IRS990EZ/ForeignOfficeInd0false
IRS990EZ/Form1120PolFiledInd0false
IRS990EZ/Form720FiledInd0false
IRS990EZ/Form990TotalAssetsGrp/BOYAmt0172491
IRS990EZ/Form990TotalAssetsGrp/EOYAmt0139008
IRS990EZ/FundraisingGrossIncomeAmt00
IRS990EZ/GrossReceiptsAmt0198497
IRS990EZ/GrossReceiptsForPublicUseAmt00
IRS990EZ/InfoInScheduleOPartIIInd0X
IRS990EZ/InfoInScheduleOPartIInd0X
IRS990EZ/InitiationFeesAndCapContriAmt00
IRS990EZ/InvestmentIncomeAmt0406
IRS990EZ/MadeLoansToFromOfficersInd0false
IRS990EZ/MethodOfAccountingAccrualInd0X
IRS990EZ/NetAssetsOrFundBalancesBOYAmt030469
IRS990EZ/NetAssetsOrFundBalancesEOYAmt013917
IRS990EZ/NetAssetsOrFundBalancesGrp/BOYAmt030469
IRS990EZ/NetAssetsOrFundBalancesGrp/EOYAmt013917
IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt04.00
IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt12.00
IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt24.00
IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt32.00
IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt42.00
IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt52.00
IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt62.00
IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt740.00
IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt00
IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt10
IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt20
IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt30
IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt40
IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt50
IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt60
IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt750000
IRS990EZ/OfficerDirectorTrusteeEmplGrp/EmployeeBenefitProgramAmt010000
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm0Anita Brady
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm1Victor Dossey
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm2Murray Heldon
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm3Ewan McGuire
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm4David Moss
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm5Frederique Slevin
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm6Mark A Schaffer
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm7Richard P Urban
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt0Chairperson
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt1Treasurer
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt2Secretary
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt3Director
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt4Director
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt5Director
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt6Director
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt7President
IRS990EZ/OperateHospitalInd0false
IRS990EZ/Organization501cInd0X
IRS990EZ/OrganizationDissolvedEtcInd0false
IRS990EZ/OrganizationFiled990TInd0false
IRS990EZ/OrganizationHadUBIInd0false
IRS990EZ/OtherAssetsTotalDetail/BOYAmt042479
IRS990EZ/OtherAssetsTotalDetail/EOYAmt016475
IRS990EZ/OtherExpensesTotalAmt050404
IRS990EZ/PartVIOfCompOfHghstPdEmplTxt0NONE
IRS990EZ/PoliticalCampaignActyInd0false
IRS990EZ/PrimaryExemptPurposeTxt0The purpose of the Interactive Financial Exchange Forum is to facilitate the development of a robust XML framework for the electronic business to business exchange of data among financial service institutions around the world.
IRS990EZ/PrintingPublicationsPostageAmt032
IRS990EZ/ProgramServiceRevenueAmt0198091
IRS990EZ/ProgramSrvcAccomplishmentGrp/DescriptionProgramSrvcAccomTxt0The Interactive Financial Exchange Forum was formed in 1997 to create a messaging standard for financial services that would address the challenges faced with the advent of network-based computing models. Through the use of Committees and working groups, the Forum works to facilitate the design of a next generetion XML standard that would be usable in many types of environments, extensible to cover many types of financial transactions, and globally focused in recognition of the increased need to communicate around the world.
IRS990EZ/ProhibitedTaxShelterTransInd0false
IRS990EZ/RelatedOrganizationCtrlEntInd0false
IRS990EZ/SalariesOtherCompEmplBnftAmt088163
IRS990EZ/ScheduleBNotRequiredInd0X
IRS990EZ/SpecialEventsDirectExpensesAmt00
IRS990EZ/SubjectToProxyTaxInd0false
IRS990EZ/SumOfTotalLiabilitiesGrp/BOYAmt0142022
IRS990EZ/SumOfTotalLiabilitiesGrp/EOYAmt0125091
IRS990EZ/TanningServicesProvidedInd0false
IRS990EZ/TotalExpensesAmt0215049
IRS990EZ/TotalRevenueAmt0198497
IRS990EZ/TransactionWithControlEntInd0false
IRS990EZ/TypeOfOrganizationCorpInd0X
IRS990EZ/WebsiteAddressTxt0www.ifxforum.org
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Office Expenses $3092
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Travel $29940
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Insurance $2062
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Marketing Communications $10261
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Payroll Service Fees $2121
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Webex & Kavi $1764
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Hosting $1159
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7Bank Service Charges $5
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8Accounts Receivable - Beginning $40965 Accounts Receivable - Ending $14980
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9Prepaid Expenses and Deferred Charges - Beginning $1514 Prepaid Expenses and Deferred Charges - Ending $1495
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt10Accounts Payable and Accrued Expenses - Beginning $14788 Accounts Payable and Accrued Expenses - Ending $8161
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt11Deferred Revenue - Beginning $124483 Deferred Revenue - Ending $102232
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt12Accrued Payroll - Beginning $1938 Accrued Payroll - Ending $1938
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt13Accrued Payroll Taxes - Beginning $813 Accrued Payroll Taxes - Ending $807
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt14Accrued Expenses - Beginning $0 Accrued Expenses - Ending $11953
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Other Expenses.1002
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Other Expenses.1005
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Other Expenses.1012
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Other Expenses.1
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Other Expenses.2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Other Expenses.3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Other Expenses.4
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7Other Expenses.7
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8Other Assets.1005
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc9Other Assets.1011
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc10Total Liabilities.1001
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc11Total Liabilities.1003
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc12Total Liabilities.1
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc13Total Liabilities.2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc14Total Liabilities.3
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Anita Brady
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Chairperson
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-03-01
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Interactive Financial Exchange Forum
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0Inc
ReturnHeader/Filer/BusinessNameControlTxt0INTE
ReturnHeader/Filer/EIN0541964448
ReturnHeader/Filer/PhoneNum07812460500
ReturnHeader/Filer/USAddress/AddressLine1Txt0401 Edgewater Place Suite 600
ReturnHeader/Filer/USAddress/CityNm0Wakefield
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MA
ReturnHeader/Filer/USAddress/ZIPCd001880
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Ruane & Company LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt012 Alfred Street Suite 206
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Woburn
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd001801
ReturnHeader/PreparerPersonGrp/PhoneNum07816430090
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Thomas M Ruane CPA
ReturnHeader/ReturnTs02017-03-01T08:28:28-08:00
ReturnHeader/ReturnTypeCd0990EZ
ReturnHeader/TaxPeriodBeginDt02015-07-01
ReturnHeader/TaxPeriodEndDt02016-06-30
ReturnHeader/TaxYr02015

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2016 • Form 990EZDetailed filing. Detailed filing data is available for this year.

Open filing
Assets
$139,008
Liabilities
$125,091
Net assets
$13,917
Revenue
$198,497
Expenses
$215,049
Net income
-$16,552
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.31$1.40$0.09$1.97$2.19$0.23
2016Detailed filing. Detailed filing data is available for this year.$1.39$1.25$0.14$1.98$2.15$0.17
2015Detailed filing. Detailed filing data is available for this year.$1.72$1.42$0.30$2.35$2.30$0.04
2014Detailed filing. Detailed filing data is available for this year.$1.71$1.44$0.26$2.13$2.40$0.27
2013Summary only. Only limited summary data is available for this year.$1.86$1.33$0.53$2.32$1.98$0.35
2012Summary only. Only limited summary data is available for this year.$1.62$1.43$0.18$2.30$2.11$0.18