Civic Intelligence

Fintech Atlanta Inc

990 • Fiscal year 2022 • EIN 81-5146743

Jan 01, 2022 to Dec 31, 2022 • Filed on Oct 04, 2023

191 Peachtree Street NE SUITE 3400Atlanta, GA 30303

(404) 586-8414

Siviq Scores

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

Liabilities / Assets

97th percentile

1.00x

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

2022 filings • 501(c)6 • <$500k nonprofits • Source year 2022

Liabilities / Revenue

94th percentile

0.61x

Higher debt load relative to revenue than 94% of similar nonprofits.

2022 filings • 501(c)6 • <$500k nonprofits • Source year 2022

Net Margin

44th percentile

0.0%

Higher net margin than 44% of similar nonprofits.

2022 filings • 501(c)6 • <$500k nonprofits • Source year 2022

Top Officer Pay

72nd percentile

$0

Higher top officer pay than 72% of similar nonprofits.

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

2022 filings • 501(c)6 • <$500k nonprofits • Source year 2022

Asset Growth

64th percentile

8.1%

Faster asset growth than 64% of similar nonprofits.

2022 filings • 501(c)6 • <$500k nonprofits • Annualized from 2021 to 2022

Revenue Growth

87th percentile

96%

Faster revenue growth than 87% of similar nonprofits.

2022 filings • 501(c)6 • <$500k nonprofits • Annualized from 2021 to 2022

Assets

Up

$121,821

Up $9,169 (+8.1%) from 2021

Net Assets

Flat

$0

Flat from 2021

Liabilities

Up

$121,821

Up $9,169 (+8.1%) from 2021

Revenue

Up

$199,457

Up $97,950 (+96%) from 2021

Expenses

Up

$199,457

Up $97,950 (+96%) from 2021

Net Income

Flat

$0

Flat from 2021

Historical Trend

Balance Sheet Trend

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

$400K$300K$200K$100K$0Assets 2016: $51,839Liabilities 2016: $02016Assets 2017: $284,274Liabilities 2017: $0Net Assets 2017: $284,2742017Assets 2018: $392,848Liabilities 2018: $0Net Assets 2018: $392,8482018Assets 2019: $298,007Liabilities 2019: $0Net Assets 2019: $298,0072019Assets 2020: $245,729Liabilities 2020: $245,729Net Assets 2020: $02020Assets 2021: $112,652Liabilities 2021: $112,652Net Assets 2021: $02021Assets 2022: $121,821Liabilities 2022: $121,821Net Assets 2022: $02022Assets 2023: $176,225Liabilities 2023: $176,225Net Assets 2023: $02023Assets 2024: $306,964Liabilities 2024: $306,964Net Assets 2024: $02024

Highlighted filing

2022

Assets$121,821
Liabilities$121,821
Net Assets$0

Operations Trend

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

$400K$200K$0-$200KRevenue 2016: $55,000Expenses 2016: $3,161Net Income 2016: $51,8392016Revenue 2017: $307,500Expenses 2017: $75,065Net Income 2017: $232,4352017Revenue 2018: $222,850Expenses 2018: $127,989Net Income 2018: $94,8612018Revenue 2019: $26,500Expenses 2019: $126,786Net Income 2019: -$100,2862019Revenue 2020: $50,000Expenses 2020: $106,759Net Income 2020: -$56,7592020Revenue 2021: $101,507Expenses 2021: $101,507Net Income 2021: $02021Revenue 2022: $199,457Expenses 2022: $199,457Net Income 2022: $02022Revenue 2023: $156,472Expenses 2023: $156,472Net Income 2023: $02023Revenue 2024: $194,007Expenses 2024: $194,007Net Income 2024: $02024

Highlighted filing

2022

Revenue$199,457
Expenses$199,457
Net Income$0
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Oct 4, 2023
Return Version
2022v5.0
Gross Receipts
$199,457
Mission and Program Overview

Mission

Fintech atlanta is a coalition of companies (from fortune 500's to startups) and other organizations working to cement atlanta as the recognized global capital of financial technology. The group's priorities are (i) to fund and fuel efforts to recruit, and (ii) retain and expand businesses and jobs across the fintech ecosystem in metro atlanta and the state of georgia.

To influence policy and industry development to cement atlanta as the recognized global capital of financial technology.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$112,652$121,821▲ $9,169
Savings and Temporary Cash Investments$0$0→ $0
Accounts Receivable$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Land, Buildings, and Equipment, Net$0$0→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$112,652$121,821▲ $9,169
Other Assets Total$0$0→ $0
Liabilities
Deferred Revenue$110,497$86,740▼ $23,757
Accounts Payable and Accrued Expenses$2,155$35,081▲ $32,926
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$112,652$121,821▲ $9,169
Net Assets / Fund Balance
Total Net Assets Fund Balance$0$0→ $0
Total Liabilities and Net Assets / Fund Balance$112,652$121,821▲ $9,169
Compensation and Service Providers

Board Members and Trustees

NameTitle
Charles FreundBoard Chair
Adwait JoshiDirector
Ali RazaDirector
Amanda ParrilliDirector
Amy BarbieriDirector
Bob TrotterDirector
Brandon PowellDirector
Chris StanleyDirector
David HartnettDirector
Jamie ClarkeDirector
Joe RadestDirector
Keith HartfordDirector
Larry WilliamsDirector
Lee EslerDirector
Marcelo BernalDirector
Michael NeumeierDirector
Nandan ShethDirector
Nathan MeyerDirector
Oliver BurnsDirector
Patrick WilliamsDirector
Robert SkibaDirector
Scott AndersonDirector
Sean BanksDirector
Steve HassettDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$185,700
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$13,757
All Other Contributions
$185,700
Change in Net Assets
$0
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$199,457
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 Other---$146,036
Travel---$16,142
Other Expenses---$15,000
Fees for Services Management---$12,000
Office Expenses---$8,119
Fees for Services Accounting---$2,160
Total Functional Expenses$0$0$0$199,457
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
FinTech Atlanta Inc
EIN
81-5146743
In Care Of
% DOUGLAS T RAY
Phone
4045868414
Address
191 Peachtree Street NE SUITE 3400, Atlanta, GA 30303

Signing Officer

Name
Charles Freund
Title
Board Chair
Phone
4045868414
Signed
2023-10-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Charles Freund
Formed
2016
Legal Domicile
Ga
Voting Board Members
24
Independent Board Members
24
Employees
0
Volunteers
55

Preparer

Firm
Bdo USA
Address
1180 PEACHTREE ST NE SUITE 1950, ATLANTA, GA 30309
Preparer
Linda Thomas
Phone
4046886841
Supplemental Narrative

Additional Explanations

Policies-review of Form 990

Form 990, part vi, section b policies, question 11 the form 990 was prepared by a public accounting firm with input from the organizations's accounting staff. A draft copy was reviewed by key accounting staff. Each person individually reviewed the form and changes were submitted to the tax preparer. The final return was reviewed and approved by the cfo. The form 990 was then submitted to the finance committee for review. The final filed form 990 is made available to the public upon request and is also available on another website called guidestar.

Policies-compensation

Form 990, part vi, section b policies, questions 15a and b the organization has an executive committee that would establish the compensation of the executive director once one is hired. In consultation with the executive director, the executive committee would establish the compensation of other officers of the corporation. At this time, the organization does not pay compensation. The board of directors serve on a volunteer basis and receive no compensation from the organization.

Disclosure

Form 990, part vi section c, question 19 if the organization's governing documents are subject to applicable federal or state public disclosure requirements, those documents will be made available as applicable law may require. Otherwise, the governing documents and financial statements will be provided to the public at the discretion of the organization's management.

Form 990 Part IX Line 11G

Description:contractor fees total fees:121928

Form 990 Part IX Line 11G

Description:intern contractor fees total fees:6452

Form 990 Part IX Line 11G

Description:bank fees total fees:280

Form 990 Part IX Line 11G

Description:other fees total fees:17376

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IRS990/Desc0ORGANIZATION-WIDE ACCOMPLISHMENTS. - ADDED THREE NEW BOARD MEMBERS, EXPANDING REACH AND DIVERSIFIED BOARD. - HELD 4 BOARD MEETINGS AND 9 EXECUTIVE COMMITTEE MEETINGS. - EMPLOYED TWO INTERNS THROUGHOUT THE COURSE OF THE YEAR WHO PROVIDED VALUE ACROSS ALL AREAS OF THE ASSOCIATION. WE'RE PLEASED TO SAY THAT BOTH YOUNG PROFESSIONALS SECURED FULL-TIME POSITIONS AFTER COMPLETING THEIR TIME WITH FINTECH ATLANTA. - FUNDRAISING FROM BOARD MEMBERS. - DEVELOPED NEW STRATEGY WITH CLARITY OF MISSION, INCREASED ENGAGEMENT, AND MEASURED IMPACT. INITIATIVE ACCOMPLISHMENTS. INNOVATE - IN NOVEMBER 2022, WE PARTNERED WITH THE GEORGIA FINTECH ACADEMY TO RELAUNCH OUR IN-PERSON STUDENT SUMMIT. HOSTED AT BLACKROCK'S INNOVATION HUB IN MIDTOWN, WE BROUGHT STUDENTS FROM THE UNIVERSITY OF GEORGIA, GEORGIA SOUTHERN UNIVERSITY, GEORGIA STATE UNIVERSITY AND KENNESAW STATE UNIVERSITY FOR A DAY OF LEARNING AND NETWORKING. - ADDITIONALLY, FINTECH ATLANTA MEMBER COMPANIES FLEETCOR, GLOBAL PAYMENTS, GARTNER, AND TRUIST BROUGHT THEIR OFFICES TO THE CLASSROOM BY PARTICIPATING IN THE GENNEXT INSIGHTS PROGRAM WITH UNIVERSITY OF GEORGIA STUDENTS WHO WORKED TO SOLVE THESE COMPANIES' REAL LIFE BUSINESS CHALLENGES. JUST THIS PAST FALL, 150 STUDENTS WORKED WITH SEVEN LEADING FINTECH COMPANIES ON PROJECTS RANGING FROM THE NEXT EVOLUTION OF EMERGING TECHNOLOGY OF PAYMENTS, TO PRACTICAL APPLICATIONS IN THE METAVERSE, TO DECENTRALIZED FINANCE. - SUPPORTED GEORGIA FINTECH ACADEMY AND THEIR INITIATIVES. TALENT - FINTECH ATLANTA HOSTED THREE OF OUR SIGNATURES RUN IT BY THE BUYER PROGRAMS. THESE EVENTS BROUGHT TOGETHER LARGE GEORGIA-BASED CORPORATIONS AND INVESTORS WITH EARLY/GROWTH STAGE FINTECHS TO DISCUSS COMMERCIAL COLLABORATION AND KEY INDUSTRY ISSUES, OPPORTUNITIES, AND CHALLENGES. IN 2022, OUR RUN IT BY THE BUYERS EVENTS SET RECORD BREAKING ATTENDANCE NUMBERS AND ENGAGEMENT. WE PACKED THE ROOMS AT ATLANTIC CAPITAL BANK (NOW SOUTHSTATE), THE HOME DEPOT, AND COMCAST, CONNECTING AUDIENCE ATTENDEES, 17 EARLIER STAGE COMPANIES, AND 15 UNIQUE BUYERS, INCLUDING BLACKROCK, COMCAST, COX, DELUXE, EQUIFAX, FIS, FLEETCOR, GLOBAL PAYMENTS, THE HOME DEPOT, INCOMM, REGIONS BANK, SOUTHSTATE BANK, TRUIST, UPS CAPITAL AND WELLS FARGO. TELLING ATLANTA'S FINTECH STORY - THIS FALL, JUST PRIOR TO GEORGIA'S TAKEOVER OF MONEY 20/20 USA, FINTECH ATLANTA LAUNCHED OUR NEW AND IMPROVED WEBSITE AND SOCIAL MEDIA PRESENCE TO BETTER TELL OUR STORY LOCALLY AND ABROAD. AS A PART OF THIS INITIATIVE, WE ROLLED OUT OUR MOBILE CONTENT STUDIO, CREATING CONTENT AT ACTIVATIONS AROUND THE GLOBE, EDITING IN REAL TIME, AND PUSHING OUT ON SOCIAL MEDIA, CREATING ADDITIONAL EXPOSURE AND CREDIBILITY FOR OUR REGION. - GREW LINKEDIN FOLLOWERS BY 283%. - CONTINUED FTA PARTNER NEWSLETTERS. - EDUCATED THE FTA COMMUNITY WITH THE AUGUST 2022 GARTNER EVENT. - THROUGHOUT THE YEAR, WE ACTIVATED AT EVENTS SUCH AS MONEY 20/20 EUROPE, MONEY 20/20 USA, AND MOST IMPORTANTLY, ATLANTA'S OWN FINTECH SOUTH. THESE ACTIVATIONS SHOWCASED AND SUPPORTED ATLANTA COMPANIES AND TOLD THE STORY GLOBALLY OF WHY OTHER FINTECHS SHOULD DO BUSINESS IN OUR REGION. - HOSTED FOREIGN TRADE AND POLITICAL DELEGATIONS FROM EIGHT KEY COUNTRIES AROUND THE GLOBE. WE USED THESE ENGAGEMENTS AS AN OPPORTUNITY TO REINFORCE ATLANTA'S POSITION AS A GLOBAL CAPITAL FOR FINANCIAL TECHNOLOGY INNOVATION AND LEADERSHIP. PUBLIC POLICY - FINTECH ATLANTA AND OUR MEMBER ORGANIZATIONS HAVE WORKED CLOSELY WITH FOUNDING PARTNER, AMERICAN TRANSACTION PROCESSORS COALITION (ATPC) TO STAY CONNECTED WITH ELECTED OFFICIALS, EDUCATING THEM ON OUR INDUSTRY'S ECONOMIC IMPACT AND ADVOCATING FOR POSITIVE LEGISLATION FOR OUR INDUSTRY. IN MARCH 2022, OUR FINTECH CONTINGENCY HELD A PAYMENTS 101 SESSION FOR THE GEORGIA SENATE BANKING COMMITTEE WHICH WILL BE CONDUCTED AGAIN IN 2023 TO EDUCATE THE MORE THAN 50 NEW MEMBERS OF GEORGIA'S GENERAL ASSEMBLY. - FINTECH ATLANTA, JOINED BY THE ATPC, GEORGIA CHAMBER, AND METRO ATLANTA CHAMBER, SENT A LETTER TO THE GEORGIA CONGRESSIONAL DELEGATION ENCOURAGI
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