Civic Intelligence

Center for Financial Training Southeastern Inc (Cftse)

990 • Fiscal year 2021 • EIN 59-1293887

Jun 01, 2020 to May 31, 2021 • Filed on Jan 26, 2022

245 NE 4th Street 3704-1Miami, FL 33132

(305) 237-3051

Siviq Scores

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

Liabilities / Assets

65th percentile

0.17x

Higher debt load relative to assets than 65% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

67th percentile

0.22x

Higher debt load relative to revenue than 67% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

45th percentile

9.6%

Higher net margin than 45% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

77th percentile

$118,467

Higher top officer pay than 77% of similar nonprofits.

Top officer pay equals 14.5% of source-year revenue.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

68th percentile

20%

Faster asset growth than 68% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

16th percentile

-17%

Faster revenue growth than 16% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Assets

Up

$1,068,318

Up $178,656 (+20%) from 2020

Net Assets

Up

$886,574

Up $78,692 (+9.7%) from 2020

Liabilities

Up

$181,744

Up $99,964 (+122%) from 2020

Revenue

Down

$819,605

Down $162,876 (-17%) from 2020

Expenses

Down

$740,913

Down $156,951 (-17%) from 2020

Net Income

Down

$78,692

Down $5,925 (-7.0%) from 2020

Historical Trend

Balance Sheet Trend

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

$1.5M$1.0M$500K$0Assets 2010: $270,387Liabilities 2010: $79,562Net Assets 2010: $190,8252010Assets 2011: $320,151Liabilities 2011: $138,959Net Assets 2011: $181,1922011Assets 2012: $329,737Liabilities 2012: $128,952Net Assets 2012: $200,7852012Assets 2013: $349,515Liabilities 2013: $109,325Net Assets 2013: $240,1902013Assets 2014: $531,623Liabilities 2014: $198,510Net Assets 2014: $333,1132014Assets 2015: $575,790Liabilities 2015: $158,315Net Assets 2015: $417,4752015Assets 2016: $582,428Liabilities 2016: $81,347Net Assets 2016: $501,0812016Assets 2017: $653,886Liabilities 2017: $98,127Net Assets 2017: $555,7592017Assets 2018: $745,679Liabilities 2018: $108,546Net Assets 2018: $637,1332018Assets 2019: $808,933Liabilities 2019: $85,668Net Assets 2019: $723,2652019Assets 2020: $889,662Liabilities 2020: $81,780Net Assets 2020: $807,8822020Assets 2021: $1,068,318Liabilities 2021: $181,744Net Assets 2021: $886,5742021Assets 2022: $1,231,501Liabilities 2022: $124,525Net Assets 2022: $1,106,9762022Assets 2023: $1,191,760Liabilities 2023: $63,114Net Assets 2023: $1,128,6462023Assets 2024: $1,160,551Liabilities 2024: $59,249Net Assets 2024: $1,101,3022024

Highlighted filing

2021

Assets$1,068,318
Liabilities$181,744
Net Assets$886,574

Operations Trend

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

$1.5M$1.0M$500K$0-$500KExpenses 2010: $473,7392010Expenses 2011: $398,7892011Expenses 2012: $438,7622012Expenses 2013: $514,5562013Revenue 2014: $773,898Expenses 2014: $680,975Net Income 2014: $92,9232014Revenue 2015: $794,231Expenses 2015: $709,869Net Income 2015: $84,3622015Revenue 2016: $886,607Expenses 2016: $803,001Net Income 2016: $83,6062016Revenue 2017: $761,774Expenses 2017: $707,096Net Income 2017: $54,6782017Revenue 2018: $899,289Expenses 2018: $817,915Net Income 2018: $81,3742018Revenue 2019: $1,010,208Expenses 2019: $924,076Net Income 2019: $86,1322019Revenue 2020: $982,481Expenses 2020: $897,864Net Income 2020: $84,6172020Revenue 2021: $819,605Expenses 2021: $740,913Net Income 2021: $78,6922021Revenue 2022: $1,096,616Expenses 2022: $876,214Net Income 2022: $220,4022022Revenue 2023: $875,212Expenses 2023: $853,542Net Income 2023: $21,6702023Revenue 2024: $888,411Expenses 2024: $915,755Net Income 2024: -$27,3442024

Highlighted filing

2021

Revenue$819,605
Expenses$740,913
Net Income$78,692
Jump To
Filing Snapshot
Filing Period
Jun 1, 2020 to May 31, 2021
Signed
Jan 26, 2022
Return Version
2020v4.0
Gross Receipts
$819,605
Mission and Program Overview

Mission

EDUCATION

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$177,728$532,905▲ $355,177
Accounts Receivable$238,708$267,867▲ $29,159
Investments Other Securities$172,632$174,413▲ $1,781
Cash and Non-Interest-Bearing Accounts$299,091$91,783▼ $207,308
Inventories for Sale or Use$1,298$1,298→ $0
Prepaid Expenses and Deferred Charges$205$52▼ $153
Total Assets$889,662$1,068,318▲ $178,656
Liabilities
Accounts Payable and Accrued Expenses$48,985$108,249▲ $59,264
Other Liabilities$32,795$73,495▲ $40,700
Total Liabilities$81,780$181,744▲ $99,964
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$807,882$886,574▲ $78,692
Total Net Assets Fund Balance$807,882$886,574▲ $78,692
Total Liabilities and Net Assets / Fund Balance$889,662$1,068,318▲ $178,656

Asset Categories

AssetBook ValueDepreciationBasis
Equipment-$71,604$71,604
Other Securities$174,413--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Connie LagunaPresident anFT$118,467$118,467
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$816,858
Investment Income
$2,747
Other Revenue
$0
Change in Net Assets
$78,692
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$528,786
Salaries, Compensation, and Employee Benefits$212,127
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$118,467--$118,467
Other Salaries and Wages$74,851--$74,851
Insurance$35,788--$35,788
Office Expenses-$26,051-$26,051
All Other Expenses$24,179--$24,179
Payroll Taxes$13,610--$13,610
Conferences and Meetings$10,325--$10,325
Other Expenses$7,126--$7,126
Depreciation Depletion$5,588--$5,588
Pension Plan Contributions$5,199--$5,199
Fees for Services Accounting-$4,500-$4,500
Total Functional Expenses$710,362$30,551$0$740,913
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
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Ppp Loan Payable$73,495
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 7A

Members elect board of directors amongst themselves.

Form 990, Page 6, Part VI, Line 7B

Major decisions are subject to approval of members or board of directors.

Form 990, Page 6, Part VI, Line 11B

No review was or will be conducted.

Form 990, Page 6, Part VI, Line 12C

During the members meetings events or transactions creating conflicts of interest are disclosed, reviewed and addressed.

Form 990, Page 6, Part VI, Line 15A

Compensation for key employees subject to board approval.

Form 990, Page 6, Part VI, Line 15B

Compensation subject to board approval.

Form 990, Page 6, Part VI, Line 19

No documents available to the public

Filing and Contact Details

Filer

Filer Name
Center for Financial Training
EIN
59-1293887
Phone
3052373051
Address
245 NE 4TH STREET 3704-1, MIAMI, FL 33132

Signing Officer

Name
Connie Laguna
Title
President and CEO
Phone
3052373051
Signed
2022-01-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Connie Laguna
Formed
1979
Legal Domicile
Fl
Voting Board Members
39
Independent Board Members
39
Employees
4

Preparer

Firm
Golomb Schwartz & Cove Pa
Address
2645 EXECUTIVE PARK DR STE 107, WESTON, FL 33331-3624
Preparer
Eric L Golomb
Phone
9548890075
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4D

The organization is a primary provider of local education for bankers for which college credits may be received. The organization also promotes and provides classes, seminars, forums and socual functions for members of the banking community.

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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.16$0.06$1.10$0.89$0.92$0.03
2023Detailed filing. Detailed filing data is available for this year.$1.19$0.06$1.13$0.88$0.85$0.02
2022Detailed filing. Detailed filing data is available for this year.$1.23$0.12$1.11$1.10$0.88$0.22
2021Detailed filing. Detailed filing data is available for this year.$1.07$0.18$0.89$0.82$0.74$0.08
2020Detailed filing. Detailed filing data is available for this year.$0.89$0.08$0.81$0.98$0.90$0.08
2019Detailed filing. Detailed filing data is available for this year.$0.81$0.09$0.72$1.01$0.92$0.09
2018Detailed filing. Detailed filing data is available for this year.$0.75$0.11$0.64$0.90$0.82$0.08
2017Detailed filing. Detailed filing data is available for this year.$0.65$0.10$0.56$0.76$0.71$0.05
2016Detailed filing. Detailed filing data is available for this year.$0.58$0.08$0.50$0.89$0.80$0.08
2015Detailed filing. Detailed filing data is available for this year.$0.58$0.16$0.42$0.79$0.71$0.08
2014Summary only. Only limited summary data is available for this year.$0.53$0.20$0.33$0.77$0.68$0.09
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.35$0.11$0.24$0.51
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.33$0.13$0.20$0.44
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.32$0.14$0.18$0.40
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.27$0.08$0.19$0.47
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2021 filings • 501(c)3 • $1M-$5M nonprofits