Civic Intelligence

Interactive Financial Exchange Forum Inc

990EZ • Fiscal year 2017 • EIN 54-1964448

Jul 01, 2016 to Jun 30, 2017 • Filed on Feb 27, 2018

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

97th percentile

1.07x

Higher debt load relative to assets than 97% of similar nonprofits.

2017 filings • 501(c)6 • <$500k nonprofits • Source year 2017

Liabilities / Revenue

97th percentile

0.71x

Higher debt load relative to revenue than 97% of similar nonprofits.

2017 filings • 501(c)6 • <$500k nonprofits • Source year 2017

Net Margin

20th percentile

-12%

Higher net margin than 20% of similar nonprofits.

2017 filings • 501(c)6 • <$500k nonprofits • Source year 2017

Top Officer Pay

92nd percentile

$71,800

Higher top officer pay than 92% of similar nonprofits.

Top officer pay equals 36.5% of source-year revenue.

2017 filings • 501(c)6 • <$500k nonprofits • Source year 2017

Asset Growth

33rd percentile

-5.9%

Faster asset growth than 33% of similar nonprofits.

2017 filings • 501(c)6 • <$500k nonprofits • Annualized from 2016 to 2017

Revenue Growth

46th percentile

-1.0%

Faster revenue growth than 46% of similar nonprofits.

2017 filings • 501(c)6 • <$500k nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets97th percentile

Assets

Down

$130,809

Down $8,199 (-5.9%) from 2016

Net Assets

Down

-$8,822

Down $22,739 (-163%) from 2016

Liabilities

Up

$139,631

Up $14,540 (+12%) from 2016

Revenue And Expenses
Liabilities / Revenue97th percentileNet Margin20th percentile

Revenue

Down

$196,517

Down $1,980 (-1.0%) from 2016

Expenses

Up

$219,256

Up $4,207 (+2.0%) from 2016

Net Income

Down

-$22,739

Down $6,187 (-37%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth33rd 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

2017

Assets$130,809
Liabilities$139,631
Net Assets-$8,822
Open 2017 Filing

Operations Trend

Revenue Growth46th 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

2017

Revenue$196,517
Expenses$219,256
Net Income-$22,739
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Feb 27, 2018
Return Version
2016v3.0
Gross Receipts
$196,517
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 Pay92nd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Richard P UrbanPresidentFT$60,000$11,800$71,800
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
2018-02-27
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 $3106”

Other Expenses.1005

“Travel $18405”

Other Expenses.1012

“Insurance $2031”

Other Expenses.1

“Marketing Communications $32087”

Other Expenses.2

“Payroll Service Fees $2287”

Other Expenses.3

“Webex & Kavi $1764”

Other Expenses.4

“Hosting $1498”

Other Expenses.5

“Admin Support $1162”

Other Assets.1005

“Accounts Receivable - Beginning $14980 Accounts Receivable - Ending $50960”

Other Assets.1011

“Prepaid Expenses and Deferred Charges - Beginning $1495 Prepaid Expenses and Deferred Charges - Ending $1606”

Total Liabilities.1001

“Accounts Payable and Accrued Expenses - Beginning $8161 Accounts Payable and Accrued Expenses - Ending $8024”

Total Liabilities.1003

“Deferred Revenue - Beginning $102232 Deferred Revenue - Ending $128896”

Total Liabilities.1

“Accrued Payroll - Beginning $1938 Accrued Payroll - Ending $1939”

Total Liabilities.2

“Accrued Payroll Taxes - Beginning $807 Accrued Payroll Taxes - Ending $772”

Total Liabilities.3

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

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/BOYAmt0122533
IRS990EZ/CashSavingsAndInvestmentsGrp/EOYAmt078243
IRS990EZ/ChgMadeToOrgnzngDocNotRptInd0false
IRS990EZ/CompensationOfHghstPdCntrctGrp/BusinessName/BusinessNameLine1Txt0Virtual Inc
IRS990EZ/CompensationOfHghstPdCntrctGrp/CompensationAmt069960
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/ExcessOrDeficitForYearAmt0-22739
IRS990EZ/FeesAndOtherPymtToIndCntrctAmt080254
IRS990EZ/ForeignFinancialAccountInd0false
IRS990EZ/ForeignOfficeInd0false
IRS990EZ/Form1120PolFiledInd0false
IRS990EZ/Form720FiledInd0false
IRS990EZ/Form990TotalAssetsGrp/BOYAmt0139008
IRS990EZ/Form990TotalAssetsGrp/EOYAmt0130809
IRS990EZ/FundraisingGrossIncomeAmt00
IRS990EZ/GrossReceiptsAmt0196517
IRS990EZ/GrossReceiptsForPublicUseAmt00
IRS990EZ/InfoInScheduleOPartIIInd0X
IRS990EZ/InfoInScheduleOPartIInd0X
IRS990EZ/InitiationFeesAndCapContriAmt00
IRS990EZ/InvestmentIncomeAmt0297
IRS990EZ/MadeLoansToFromOfficersInd0false
IRS990EZ/MethodOfAccountingAccrualInd0X
IRS990EZ/NetAssetsOrFundBalancesBOYAmt013917
IRS990EZ/NetAssetsOrFundBalancesEOYAmt0-8822
IRS990EZ/NetAssetsOrFundBalancesGrp/BOYAmt013917
IRS990EZ/NetAssetsOrFundBalancesGrp/EOYAmt0-8822
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/CompensationAmt760000
IRS990EZ/OfficerDirectorTrusteeEmplGrp/EmployeeBenefitProgramAmt011800
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/BOYAmt016475
IRS990EZ/OtherAssetsTotalDetail/EOYAmt052566
IRS990EZ/OtherExpensesTotalAmt062340
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/PrintingPublicationsPostageAmt0187
IRS990EZ/ProgramServiceRevenueAmt0196220
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/SalariesOtherCompEmplBnftAmt076475
IRS990EZ/ScheduleBNotRequiredInd0X
IRS990EZ/SpecialEventsDirectExpensesAmt00
IRS990EZ/SubjectToProxyTaxInd0false
IRS990EZ/SumOfTotalLiabilitiesGrp/BOYAmt0125091
IRS990EZ/SumOfTotalLiabilitiesGrp/EOYAmt0139631
IRS990EZ/TanningServicesProvidedInd0false
IRS990EZ/TotalExpensesAmt0219256
IRS990EZ/TotalRevenueAmt0196517
IRS990EZ/TransactionWithControlEntInd0false
IRS990EZ/TypeOfOrganizationCorpInd0X
IRS990EZ/WebsiteAddressTxt0www.ifxforum.org
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Office Expenses $3106
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Travel $18405
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Insurance $2031
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Marketing Communications $32087
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Payroll Service Fees $2287
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Webex & Kavi $1764
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Hosting $1498
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7Admin Support $1162
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8Accounts Receivable - Beginning $14980 Accounts Receivable - Ending $50960
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9Prepaid Expenses and Deferred Charges - Beginning $1495 Prepaid Expenses and Deferred Charges - Ending $1606
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt10Accounts Payable and Accrued Expenses - Beginning $8161 Accounts Payable and Accrued Expenses - Ending $8024
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt11Deferred Revenue - Beginning $102232 Deferred Revenue - Ending $128896
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt12Accrued Payroll - Beginning $1938 Accrued Payroll - Ending $1939
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt13Accrued Payroll Taxes - Beginning $807 Accrued Payroll Taxes - Ending $772
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt14Accrued Expenses - Beginning $11953 Accrued Expenses - Ending $0
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.5
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/BuildTS02018-03-14 21:41:22Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Anita Brady
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Chairperson
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-02-27
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/ReturnTs02018-02-27T06:54:18-08:00
ReturnHeader/ReturnTypeCd0990EZ
ReturnHeader/TaxPeriodBeginDt02016-07-01
ReturnHeader/TaxPeriodEndDt02017-06-30
ReturnHeader/TaxYr02016

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2017 • Form 990EZDetailed filing. Detailed filing data is available for this year.

Open filing
Assets
$130,809
Liabilities
$139,631
Net assets
-$8,822
Revenue
$196,517
Expenses
$219,256
Net income
-$22,739
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2017Detailed filing. Detailed filing data is available for this year.$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