The Financial Planning Association

“The Executive Committee is composed of the Chair, the President, the President Elect, such other members as the Board may elect, and the CEO. The Committee has the authority to act upon issues in between Board meetings as well as issues specifically delegated to the Executive Committee by the Board.”

“The organization has two classes of members: individual members and institutional members. Individual Members: Any individual demonstrating a professional interest in financial planning and willing to abide by the Bylaws is eligible for membership in the Association. Members shall be entitled to special rights, privileges and benefits as determined by the Board of Directors or its designee. Members of FPA include financial planning practitioners, students, acadeicians, support staff, retired practitioners, and other allied professionals who support the profession. Institutional Members: Any institution with an interest in financial planning and which is willing to abide by the Bylaws for membership in the Association.”

“Plans of merger, consolidation or dissolution which are voted on and adopted by the Board of Directors shall require ratification through an affirmative vote of at least a majority of the individual members of the FPA voting.”

“The Form 990 is prepared by an independent CPA firm and reviewed by the Director of Finance and the Accounting Manager in detail. It is then made available to the board for their review prior to being filed with the IRS.”

“On an annual basis, the directors and officers of the organization are required to disclose any conflicts of interest (actual, apparent, or potential) and agree to comply with the organization's conflict of interest policy. Upon disclosure of a potential conflict of interest and all material facts to the independent members of the board, and after any discussion with the interested persons, the independent board members shall discuss and decide if a conflict of interest exists. After exercising due diligence, the independent board members shall determine whether or not a conflict of interest is present. As part of that determination, the independent board members will decide whether the transaction or arrangement is in the organization's best interest, for the organization's benefit, and whether it is fair and reasonable to the organization.”

“15a - Executive Director/CEO compensation is determined through ASAE salary surveys and other third-party non-profit compensation resources and guidelines. The compensation package is reviewed annually by the independent members of the FPA Executive Committee and includes an annual performance review to ensure key objectives, as outlined by the board, are being met. The approval process is documented in the Committee minutes. 15b - The compensation for the Director of Finance is approved by the Executive Director. Comparability data is used, and the process is documented in the HR file.”

“The governing documents, conflict of interest policy, and financial statements are all available upon request. The governing documents are also available on the organization's website.”

“Contracted Labor 1,606,471.”

“Change in Value of Investment in Financial Services Information Company -76,056.”