2021-04-30T11:39:12-05:00 2020-06-30 BDO USA LLP 8401 GREENSBORO DRIVE 800 MCLEAN VA 22102 990 2019-07-01 581424769 Association for Financial Professionals % FRANCINE HOPE-PRESSLEY ASSO 3019618863 4520 East West Highway Suite 800 Bethesda MD 20814 FRANCINE HOPE-PRESSLEY CFO 3019618863 2021-04-28 true Marc Berger P01871563 7038930600 2019 2022-09-23 18:48:47Z JEFF GLENZER 4520 East West Highway STE 800 Bethesda MD 20814 36725926 false X www.afponline.org X 1980 MD THE PROFESSIONAL SOCIETY THAT REPRESENTS FINANCE EXECUTIVES GLOBALLY. THE ASSOCIATION ESTABLISHED AND ADMINIST- ERS THE CERTIFIED TREASURY PROFESSIONALS AND (CONTINUED ON SCHEDULE O) 14 14 82 476 886241 104289 0 0 24553967 22188251 760506 1387194 30 0 25314503 23575445 17079 16280 0 0 10699197 9448041 0 0 0 13109373 12344797 23825649 21809118 1488854 1766327 33043455 30753315 19160124 15338130 13883331 15415185 X TO BE THE PREFERRED GLOBAL RESOURCE AND ADVOCATE FOR THE FINANCE PROFESSION. true false ANNUAL CONFERENCE: PREMIER NETWORKING AND EDUCATIONAL EVENT INCLUDING MORE THAN 130 WORKSHOPS, PEER REVIEWED LECTURES, AND PRESENTATOINS ON CORPORATE FINANCIAL MANAGEMENT TOPICS SUCH AS TREASURY AND CASH, BANK RELATIONSHIPS, LIQUIDITY, WORKING CAPITAL, PAYMENTS, FINANCIAL PLANNING AND ANALYSIS, AND PENSION AND EMPLOYEE PLANS. ATTENDANCE AT THE ANNUAL CONFERENCE WAS IN EXCESS OF 6,000 CORPORATE PRACTITIONERS, ASSOCIATES, AND ACADEMICS. PROFESSIONAL DEVELOPMENT: INCLUDES CERTIFICATION AND EDUCATION. THE CERTIFIED TREASURY PROFESSIONAL (CTP) EXAM WAS ADMINISTERED TO APPROXIMATELY 1500 CANDIDATES AND 500 CERTIFIED CORPORATE FINANCIAL PLANNING AND ANALYSIS (FP&A) EXAM PARTS WERE DELIVERED. IN ADDITION, APPROXIMATELY 2400 CTPS, WHO MET THE REQUIREMENT FOR CONTINUING PROFESSIONAL EDUCATION CREDITS OVER A THREE-YEAR PERIOD, WERE RECERTIFIED. EDUCATION: CONDUCTED WORKSHOPS, WEBINARS AND SEMINARS ON A VARIETY OF TOPICS IN CORPORATE FINANCE. COMMUNICATIONS: PUBLISHED MONTHLY NEWSLETTERS AND FOUR ISSUES OF EXCHANGE MAGAZINE WITH TOPICS COVERING ECONOMICS, CORPORATE PAYMENTS, RISK AND FINANCIAL MANAGEMENT, CAREER DEVELOPMENT, AND LEGAL AND REGULATORY DEVELOPMENTS. 0 0 0 Membership & Marketing 0 0 0 Research 0 0 0 0 false false false true false false false false false true true false true true true true false false true true false false false false false false true false true false false false false false false false false false false false true true false false true 20 0 true 82 true true true false false false false false true false X 14 14 false false false false true true true true false false true true true true true true true true true true false X FRANCINE HOPE-PRESSLEY 3019618863 4520 EAST WEST HIGHWAY STE 800 Bethesda MD 20814 X James Kaitz President, CEO 50.0 0.0 X 1118798 0 215624 Himashi Soriano Director - APAC 40.0 0.0 X 449307 0 20857 Jeff Glenzer Executive VP, COO 50.0 0.0 X 371330 0 57376 Patrick Culkin Executive VP 50.0 0.0 X 381624 0 37027 Melissa Rawak MD-Membership, Mktg, Events 50.0 0.0 X 262653 0 33069 Galina Kozachenko MD-Strategy, Analytics, Tech 50.0 0.0 X 234598 0 47066 Donna Berzellini MD - Learning & Development 40.0 0.0 X 229734 0 49543 Kevin Boyle Dir - Access Sales 40.0 0.0 X 210074 0 35375 Brian Lapidus Corp Sales Executive 40.0 0.0 X 202424 0 38121 Justin Barch Dir - Corp Sales 40.0 0.0 X 212811 0 19765 Thomas Hunt Dir - Treasury Services 40.0 0.0 X 174273 0 23854 Robert Whitaker CTP Chairman of the Board 5.0 0.0 X X 0 0 0 Terry Crawford CTP Vice Chairman - Treasurer 5.0 0.0 X X 0 0 0 Jordan Krugman CTP Vice Chairman - Secretary 5.0 0.0 X X 0 0 0 Irena Barisic FPA Director 5.0 0.0 X 0 0 0 Chris Fulton CTP Director 5.0 0.0 X 0 0 0 T Jonathan Hall CTP Director 5.0 0.0 X 0 0 0 Michael High FPA Director 5.0 0.0 X 0 0 0 Ferdinand Jahnel CTP Director 5.0 0.0 X 0 0 0 Joan Piscitello CTP Director 5.0 0.0 X 0 0 0 Tamara Saront-Eisner CTP Director 5.0 0.0 X 0 0 0 Fred Schacknies Director 5.0 0.0 X 0 0 0 Matthew Skurbe CTP Director 5.0 0.0 X 0 0 0 Gaileon Thompson CTP FPA Director 5.0 0.0 X 0 0 0 MEREDITH VANCE CTP DIRECTOR 5.0 0.0 X 0 0 0 FRANCINE HOPE-PRESSLEY CFO 50.0 0.0 X 0 0 0 3847626 0 577677 29 false true false Levy Restaurants 415 SUMMER STREET BOSTON MA 02210 CATERING 972089 O'Keefe Communications 2 Bethesda Metro Center BETHESDA MD 20814 Event Production 650686 McCormick Place 301 E Cermak Road 3rd Floor CHICAGO IL 60616 EVENT SPACE 250156 Worldwide Speaker Group 99 Canal Center Plaza Suite 1 ALEXANDRIA VA 22314 Speakers Bureau 240000 The Caviart Group LLC 9556 Pine Cluser Circle VIENNA VA 22181 CONSULTING SERVICES 216000 10 0 CONFERENCES 541900 11799550 11449550 350000 MEMBERSHIP DUES 900099 5128738 5128738 PROFESSIONAL DEVELOPMENT 541900 2467434 2173159 294275 CERTIFICATIONS 900099 2420344 2420344 COMMUNICATIONS 511120 372185 130219 241966 22188251 657823 657823 0 0 0 0 0 13879852 13150481 729371 729371 729371 0 0 0 0 0 0 0 0 0 0 23575445 21302010 886241 1387194 X 16280 0 0 0 0 3175847 0 0 0 0 5029310 0 0 0 385666 0 0 0 325014 0 0 0 532204 0 0 0 0 68828 0 0 0 73855 0 0 0 0 0 59321 0 0 0 4642303 0 0 0 269686 0 0 0 1195917 0 0 0 1007258 0 0 0 0 831282 0 0 0 693145 0 0 0 0 2379821 0 0 0 299 0 0 0 0 889281 0 0 0 154171 0 0 0 PROFESSIONAL DEVELOPMENT 28004 TAXES 22764 DUES & SUBSCRIPTIONS 16722 MISCELLENEOUS EXPENSES 12140 21809118 0 0 0 0 0 5982969 4090650 0 0 429044 127394 0 0 0 0 0 0 0 0 1623127 835989 4737342 3014380 1820568 1722962 14163112 13334072 4353588 5976009 0 0 955167 1193477 3715880 3472762 33043455 30753315 3041048 4275181 0 0 11169472 5480302 0 0 0 0 0 0 0 0 0 1000000 4949604 4582647 19160124 15338130 X 13883331 15415185 0 0 13883331 15415185 33043455 30753315 1766327 -234473 X X false true X true false false true false 646497 229355 417142 245865 185936 59929 3844980 2599089 1245891 1722962 VANGUARD INTERM TERM (VBILX) 2924518 F BAIRD INTERMEDIATE BD (BIMIX) 1539923 F VOYA SECURITIZED CREDIT(VCFIX 1511568 F 5976009 DEFERRED COMPENSATION 3452847 DEPOSITS 19915 3472762 0 DEFERRED COMPENSATION 3452847 DEFERRED RENT 1128774 CAPITAL LEASE PAYABLE 1026 4582647 X 23281651 -234473 -234473 23516124 59321 59321 23575445 21749797 21749797 59321 59321 21809118 ASC 740 FOOTNOTE: SCHEDULE D, PART X, LINE 2: AFP IS EXEMPT FROM THE PAYMENT OF FEDERAL INCOME TAXES ON ITS EXEMPT ACTIVITIES UNDER SECTION 501(C)(6) OF THE IRC. HOWEVER, AFP IS SUBJECT TO INCOME TAX ON UNRELATED BUSINESS INCOME ACTIVITY. FOR THE YEARS ENDED JUNE 30, 2020 AND 2019, THE ASSOCIATION HAD NET UNRELATED BUSINESS INCOME OF APPROXIMATELY $91,000 AND $160,000, RESPECTIVELY. FOR THE YEARS ENDED JUNE 30, 2020 AND 2019, THE ASSOCIATION HAD $24,200 AND $49,000 OF ESTIMATED BUSINESS INCOME TAX LIABILITY, RESPECTIVELY. AFP FOLLOWS GUIDANCE THAT CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN, INCLUDING ISSUES RELATING TO FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT. THIS GUIDANCE PROVIDES THAT THE TAX EFFECTS FROM AN UNCERTAIN TAX POSITION CAN ONLY BE RECOGNIZED IN THE FINANCIAL STATEMENTS IF THE POSITION IS "MORE-LIKELY-THAN-NOT" TO BE SUSTAINED IF THE POSITION WERE TO BE CHALLENGED BY A TAXING AUTHORITY. THE ASSESSMENT OF THE TAX POSITION IS BASED SOLELY ON THE TECHNICAL MERITS OF THE POSITION, WITHOUT REGARD TO THE LIKELIHOOD THAT THE TAX POSITION MAY BE CHALLENGED. AFP HAS PROCESSES PRESENTLY IN PLACE TO ENSURE THE MAINTENANCE OF ITS TAX-EXEMPT STATUS; TO IDENTIFY AND REPORT UNRELATED BUSINESS INCOME; TO DETERMINE ITS FILING AND TAX OBLIGATIONS IN JURISDICTIONS FOR WHICH IT HAS NEXUS; AND TO IDENTIFY AND EVALUATE OTHER MATTERS THAT MAY BE CONSIDERED TAX POSITIONS. THE TAX YEARS ENDED JUNE 30, 2017, AND THEREAFTER ARE STILL OPEN TO AUDIT FOR BOTH FEDERAL AND STATE PURPOSES. AFP HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS THAT REQUIRE RECOGNITION OR DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS. AFPS IS A BRANCH OF AFP AND IS ORGANIZED AS A FOR-PROFIT COMPANY IN SINGAPORE. THERE WERE NO TAXES DUE TO THE LOCAL JURISDICTION FOR THIS COMPANY FOR THE YEAR ENDED JUNE 30, 2020 AND FOR THE PERIOD MARCH 14, 2019 (INCEPTION) TO JUNE 30, 2019, RESPECTIVELY. South Asia 1 1 Program Services CERT, TNG, PRODUCTS 78394 1 1 1 1 78394 94162 false false false false false false false Foundation for Hospital Art 131 Village Centre West Woodstock CA 30188 581563444 501(c)(3) 16280 COMMUNITY SERVICE EVENT 1 0 X X X true true X X X X X X false true false James Kaitz President, CEO 729548 0 362488 0 26762 0 200129 0 15495 0 1334422 0 0 0 Jeff Glenzer Executive VP, COO 278462 0 89784 0 3084 0 45700 0 11676 0 428706 0 0 0 Patrick Culkin Executive VP 286539 0 88970 0 6115 0 28262 0 8765 0 418651 0 0 0 Galina Kozachenko MD-Strategy, Analytics, Tech 188462 0 46000 0 136 0 37181 0 9885 0 281664 0 0 0 Melissa Rawak MD-Membership, Mktg, Events 201653 0 61000 0 0 0 26263 0 6806 0 295722 0 0 0 Donna Berzellini MD - Learning & Development 184576 0 28875 0 16283 0 43204 0 6339 0 279277 0 0 0 Kevin Boyle Dir - Access Sales 97260 0 112814 0 0 0 25212 0 10163 0 245449 0 0 0 Justin Barch Dir - Corp Sales 135877 0 76934 0 0 0 19363 0 402 0 232576 0 0 0 Thomas Hunt Dir - Treasury Services 149273 0 25000 0 0 0 13920 0 9934 0 198127 0 0 0 Brian Lapidus Corp Sales Executive 168924 0 33500 0 0 0 26291 0 11830 0 240545 0 0 0 Himashi Soriano Director - APAC 164540 0 33105 0 251662 0 14766 0 6091 0 470164 0 0 0 SCHEDULE J, PART I, LINE 1A: ONE EMPLOYEE WAS RELOCATED TO SINGAPORE TO RUN THE NEWLY OPENED AFP SINGAPORE BRANCH. THE RELATED EX-PATRIATE AGREEMENT INCLUDED FAMILY TRAVEL, HOUSING & RELOCATION ALLOWANCE. ALSO, CEO RECEIVES AN ALLOWANCE FOR CONTRACTED HEALTH CLUB DUES PER EMPLOYMENT CONTRACT. SCHEDULE J, PART I, LINE 4B: JAMES KAITZ PARTICIPATES IN THE 457(F) PLAN. THE CONTRIBUTION TO THE PLAN WAS $175,000 DURING THE PERIOD. DONNA BERZELLINI PARTICIPATES IN THE 457(F) PLAN. A DISTRITION OF $78,475 WAS MADE DURING THE PERIOD. FORM 990, PART I, LINE 1 (CONTINUED): CERTIFIED FP&A PROFESSIONAL CREDENTIALS, WHICH SET STANDARDS OF EXCELLENCE IN FINANCE. MEMBERS ARE SUPPORTED THROUGH RESEARCH, EDUCATION, CERTIFICATION, PUBLICATIONS AND REPRESENTATION. FORM 990, PART III, LINE 2: The organization opened a branch office in Singapore to continue its effort to expand the global reach of the organization. FORM 990, PART VI, SECTION A, LINE 6: THE ORGANIZATION HAS THE FOLLOWING TYPES OF MEMBERS: PRACTITIONER MEMBER - AN INDIVIDUAL IS A PRACTITIONAL MEMBER IF HE/SHE IS INVOLVED IN FINANCIAL MANAGEMENT FUNCTIONS WITHIN HIS/HER ORGANIZATION AND IS A MAJOR PARTICIPANT IN DECISION-MAKING REGARDING SUCH FUNCTIONS. ASSOCIATE MEMBER - AN INDIVIDUAL WILL BE CONSIDERED AN ASSOCIATE MEMBER IF HE/SHE DOES NOT MEET THE MEMBERSHIP CRITERIA TO BE A PRACTITIONER MEMBER, BUT IS INVOLVED IN, OR INTERESTED IN, FINANCIAL MANAGEMENT ACTIVITIES SUCH AS BANKING, CONSULTING, ETC. ACADEMIC MEMBER - AN INDIVIDUAL IS AN ACADEMIC MEMBER IF HE/SHE IS EMPLOYED FULL TIME BY A POST-SECONDARY EDUCATIONAL INSTITUTION AND HIS/HER PRINCIPAL DUTIES INVOLVE TEACHING AND RESEARCH IN MATTERS RELATED TO TREASURY AND FINANCIAL MANAGEMENT. STUDENT MEMBER - AN INDIVIDUAL IS A STUDENT MEMBER IF HE/SHE IS A COLLEGE OR UNIVERSITY JUNIOR, SENIOR OR GRADUATE LEVEL STUDENT MAJORING IN A BUSINESS OR FINANCE RELATED FIELD. FORM 990, PART VI, SECTION A, LINE 7A: ONLY PRACTITIONER MEMBERS ARE ALLOWED TO VOTE ON ASSOCIATION FOR FINANCIAL PROFESSIONALS MATTERS AND HOLD OFFICE IN THE ASSOCIATION FOR FINANCIAL PROFESSIONALS. PRACTITIONERS ELECT A SLATE BOARD OF CANDIDATES BY DIRECT BALLOTS. FORM 990, PART VI, SECTION A, LINE 7B: PRACTITIONER MEMBERS CAN VOTE ON ALL ASSOCIATION FOR FINANCIAL PROFESSIONAL MATTERS INCLUDING CHANGES TO GOVERNING DOCUMENTS. FORM 990, PART VI, SECTION A, LINE 8A: SOME OF THE COMMITTEES ARE NOT REQUIRED TO RECORD MINUTES. FORM 990, PART VI, SECTION B, LINE 10B: AFP SINGAPORE BRANCH OPENED IN MARCH 2019. THE BRANCH IS AN EXTENSION OF THE US ENTITY AND AS SUCH THE POLICIES AND PROCEDURES ARE THE SAME. FORM 990, PART VI, SECTION B, LINE 11B: THE ASSOCIATION'S MANAGEMENT REVIEWS THE FORM 990 IN DETAIL. AFP WILL PROVIDE AN ELECTRONIC COPY OF THE FORM TO THE BOARD MEMBERS TO ACCESS FOR REVIEW AND ASK QUESTIONS BEFORE FILING WITH THE IRS. THE AUDIT COMMITTEE OF THE BOARD REVIEWED THE FORM 990 AND,.PRIOR TO ITS FILING, RECOMMENDED APPROVAL TO THE FULL BOARD. FORM 990, PART VI, SECTION B, LINE 12C: ALL EMPLOYEES AND MEMBERS OF THE BOARD OF DIRECTORS ARE REQUIRED TO CERTIFY ANNUALLY THAT THEY WILL COMPLY WITH ASSOCIATION POLICY ON CONFLICTS OF INTEREST AND DISCLOSE CONFLICTS OF INTEREST. INFORMATION CONCERNING POSSIBLE VIOLATIONS OF ASSOCIATION POLICY ARE TO BE REPORTED TO SENIOR MANAGEMENT (CEO, COO, CFO OR DIRECTOR OF HR) OR, IN THE CASE OF INFORMATION CONCERNING FINANCIAL CONFLICTS OF INTEREST, MAY BE REPORTED DIRECTLY TO THE AUDIT COMMITTEE OF THE BOARD OF DIRECTORS. POTENTIAL CONFLICTS ARE ADDRESSED ON A CASE-BY-CASE BASIS BY THE APPROPRIATE LEVEL OF MANAGEMENT OR BY THE AUDIT COMMITTEE OF THE BOARD OF DIRECTORS. IF A CONFLICT IS DETERMINED TO EXIST AT THE BOARD LEVEL, THE INDIVIDUAL IS NOT PERMITTED TO VOTE ON THE TRANSACTION. ALL PROCEEDINGS RELATED TO CONFLICT OF INTEREST ARE NOTED IN THE MEETING MINUTES. FORM 990, PART VI, SECTION B, LINE 15 A/B: THE BOARD RETAINS AN INDEPENDENT CONSULTANT TO RECOMMEND CHANGES TO PRESIDENT/CEO COMPENSATION. THE CONSULTANT MAKES RECOMMENDATIONS TO THE OVERSIGHT COMMITTEE OF THE BOARD BASED ON ANALYSIS OF PRESIDENT/CEO COMPENSATION AT PEER ORGANIZATIONS AS DETERMINED BY THE BOARD OF DIRECTORS. THE PROCESS FOR DETERMINING COMPENSATION LEVELS FOR THE OTHER OFFICERS AND KEY EMPLOYEES INCLUDING ANALYSIS OF EACH POSITION BASED ON BENCHMARKS AGAINST OTHER ORGANIZATIONS OF SIMILAR SIZE AND COMPLEXITY BY THE HUMAN RESOURCES DEPARTMENT. ANNUAL EMPLOYEE REVIEWS ARE CONDUCTED BY THE CEO AND OR DIRECT SUPERVISOR. FORM 990, PART VI, SECTION B, LINE 19: THE ASSOCIATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC. FORM 990, PART XII, LINE 2C: THIS YEAR (FY2020), THE AUDIT COMMITTEE WILL REVIEW THE 990 AND 990T TAX RETURNS PRIOR TO FILING. FORM 990 PART IX LINE 11G DESCRIPTION:OUTSIDE SERVICES TOTAL FEES:2984275 FORM 990 PART IX LINE 11G DESCRIPTION:HONORARIA TOTAL FEES:932450 FORM 990 PART IX LINE 11G DESCRIPTION:CONSULTANTS TOTAL FEES:537035 FORM 990 PART IX LINE 11G DESCRIPTION:TEMPORARY EMPLOYMENT TOTAL FEES:188543 ASSOCIATION FOR FINANCIAL PROFESSIONALS 4520 EAST WEST HIGHWAY SUITE 750 Bethesda MD 20814 812529279 PAC Activity MD 527 AFP true false false false false false false false false false false false false false true true false false false false