2025-11-12T15:56:43-06:00 2024-12-31 410746749 CLIFTONLARSONALLEN LLP 950 NORTH GLEBE ROAD SUITE 1200 ARLINGTON VA 22203 990 2024-01-01 352787547 CERTIFIED FINANCIAL PLANNER BOARD OF STANDARDS INC CERT 2023792200 1425 K STREET NW 800 WASHINGTON DC 20005 KEVIN YEA CPA CFP 2023792200 2025-11-11 1 0 ROBERT WILLIAMS P01345960 5712279500 2025-11-11 2024 2025-03-06 01:10:19Z KEVIN R KELLER CEO 1425 K STREET NW 800 WASHINGTON DC 20005 67273153 0 X CFPBOARD.NET X 2023 DC THE MISSION OF CFP BOARD OF STANDARDS IS TO CREDENTIAL COMPETENT AND ETHICAL FINANCIAL PLANNERS, UPHOLD CFP CERTIFICATION AS THE RECOGNIZED STANDARD AND ADVANCE THE FINANCIAL PLANNING PROFESSION 14 14 0 451 545141 0 0 0 56207545 62152880 441873 765543 2093274 2328782 58742692 65247205 336643 563723 0 0 17332609 22172291 0 0 0 38063562 40312086 55732814 63048100 3009878 2199105 51515055 53533548 47133272 46041057 4381783 7492491 X THE MISSION OF CFP BOARD OF STANDARDS, INC IS TO CREDENTIAL COMPETENT AND ETHICAL FINANCIAL PLANNERS, UPHOLD CFP CERTIFICATION AS THE RECOGNIZED STANDARD AND ADVANCE THE FINANCIAL PLANNING PROFESSION. 0 0 PUBLIC AWARENESS CAMPAIGN: ONE OF THE CFP BOARD'S STRATEGIC PRIORITIES IS TO BUILD PUBLIC AWARENESS OF CFP CERTIFICATION. IN PURSUIT OF THIS PRIORITY, CFP BOARD HAS DEVELOPED AND IMPLEMENTED A PUBLIC AWARENESS CAMPAIGN THAT INCLUDES A MIX OF BROADCAST, CABLE AND STREAMING TELEVISION, RADIO, SOCIAL MEDIA, ONLINE ADVERTISING, PRINT, AND MEDIA SPONSORSHIP. ADDITIONALLY, CFP BOARD IS MAINTAINING AND REGULARLY UPDATING RELEVANT CONTENT ON LETSMAKEAPLAN.ORG, A CONSUMER-TARGETED WEBSITE DEVELOPED TO INCREASE THE PUBLIC'S AWARENESS AND UNDERSTANDING OF THE VALUE OF FINANCIAL PLANNING AND HOW WORKING WITH A CFP PROFESSIONAL CAN HELP IMPROVE FINANCIAL WELL-BEING. SINCE ITS LAUNCH IN 2011, THE CAMPAIGN HAS INCREASED AWARENESS OF CFP CERTIFICATION AND PREFERENCE FOR WORKING WITH A CFP PROFESSIONAL AMONG THE TARGET AUDIENCE WITH AN OVERWHELMING MAJORITY STATING THAT THEY HAVE HEARD OF THE DESIGNATION. EDUCATION: THE FIRST STEP TO CFP CERTIFICATION IS TO ACQUIRE THE KNOWLEDGE REQUIRED TO DELIVER PROFESSIONAL, COMPETENT, AND ETHICAL FINANCIAL PLANNING SERVICES TO CLIENTS, AS OUTLINED IN THE PERSONAL FINANCIAL PLANNING TOPIC AREAS IDENTIFIED BY CFP BOARD'S MOST RECENT JOB ANALYSIS RESEARCH. CFP BOARD'S EDUCATION COMPONENT REQUIRES THE COMPLETION OF A COLLEGE-LEVEL PROGRAM OF STUDY IN PERSONAL FINANCIAL PLANNING, INCLUDING COMPLETION OF A FINANCIAL PLAN DEVELOPMENT (CAPSTONE) COURSE. THE COURSE OF STUDY IS OFFERED AT 235 ACCREDITED COLLEGES AND UNIVERSITIES IN THE U.S., AT DEGREE (BACHELORS, MASTERS, PH.D.) AND NON-DEGREE CERTIFICATE LEVELS. IN 2024, CFP BOARD REGISTERED OVER 352 FINANCIAL PLANNING PROGRAMS WHICH INCLUDED REVIEW OF THEIR CURRICULUM AND FACULTY QUALIFICATIONS TO ENSURE THAT THE TEACHING AND LEARNING MET ESTABLISHED STANDARDS. AFTER INITIAL CERTIFICATION, CFP PROFESSIONALS ARE REQUIRED TO COMPLETE 30 HOURS OF CONTINUING EDUCATION ("CE"), WHICH INCLUDES 28 HOURS OF GENERAL CE AND ONE 2 CREDIT HOUR CFP BOARD CODE OF ETHICS CE PROGRAM, AS PART OF THE BIENNIAL RENEWAL REQUIREMENT TO ASSURE THE PUBLIC OF CONTINUING COMPETENCY IN FINANCIAL PLANNING. CFP BOARD ANNUALLY REGISTERS APPROXIMATELY 1,100 CE SPONSORS, WHO ARE REQUIRED TO DELIVER HIGH QUALITY CONTENT DEVELOPED BY QUALIFIED INSTRUCTORS AND AUTHORS, ALIGNING WITH DEFINED FINANCIAL PLANNING TOPIC REQUIREMENTS. IN 2024, CFP BOARD REVIEWED AND APPROVED 15,470 CE PROGRAMS WHICH MET ESTABLISHED REQUIREMENTS. PROFESSIONAL CONDUCT, ENFORCEMENT AND LEGAL: AS A CONDITION TO CERTIFICATION, ALL CFP PROFESSIONALS AGREE TO ABIDE BY CFP BOARD'S CODE OF ETHICS AND STANDARDS OF CONDUCT AND PREDECESSOR VERSIONS (CODE AND STANDARDS), WHICH INCLUDES THE PRACTICE STANDARDS FOR THE FINANCIAL PLANNING PROCESS. THE CODE AND STANDARDS BECAME EFFECTIVE ON OCTOBER 1, 2019 WITH AN ENFORCEMENT DATE OF JUNE 30, 2020, REPLACING CFP BOARD'S PRIOR ETHICAL STANDARDS SET FORTH IN THE STANDARDS OF PROFESSIONAL CONDUCT (STANDARDS) BOOKLET. CFP BOARD FORMED A STANDARDS RESOURCE COMMISSION (SRC) TO DEVELOP GUIDANCE FOR CFP PROFESSIONALS AND THEIR FIRMS REGARDING THE CODE AND STANDARDS. THE SRC BEGAN TO PUBLISH GUIDANCE MATERIALS REGARDING THE CODE AND STANDARDS IN 2018, AND ITS WORK CONTINUED THROUGHOUT 2024. IN 2023, CFP BOARD'S SANCTIONS AND FITNESS COMMISSION COMPLETED ITS WORK OFFERING REVISIONS TO CFP BOARD'S SANCTION GUIDELINES AND FITNESS STANDARDS AND RECOMMENDING TO THE BOARD THAT THOSE REVISIONS BE PUT OUT FOR PUBLIC COMMENT. WITH CERTAIN MODIFICATIONS, THE BOARD ADOPTED THE REVISED SANCTION GUIDELINES AND FITNESS STANDARDS IN MARCH, 2024 WITH AN EFFECTIVE DATE OF JULY 1, 2024. CFP BOARD HAS ESTABLISHED A FAIR PROCESS FOR ENFORCING CFP BOARD'S CODE AND STANDARDS (AND THE PREDECESSOR STANDARDS). THIS PROCESS IS SET FORTH IN THE PROCEDURAL RULES, WHICH CFP BOARD REVISED EFFECTIVE SEPTEMBER 1, 2023.FIRST, CFP BOARD SEEKS TO DETECT POTENTIAL MISCONDUCT. CFP BOARD RECEIVES COMPLAINTS (GRIEVANCES) FROM CONSUMERS AND OTHER INDIVIDUALS, COLLECTS SELF-REPORTED INFORMATION FROM CFP PROFESSIONALS AND CANDIDATES, AND CONDUCTS BACKGROUND CHECKS THAT INVOLVE A REVIEW OF BROKERCHECK, THE INVESTMENT ADVISER PUBLIC DISCLOSURE DATABASE, STATE INSURANCE AND SECURITIES REGULATORY DATABASES, AND OTHER PUBLIC RECORDS TO DETECT EVIDENCE OF POTENTIAL MISCONDUCT. CFP BOARD PERFORMS BACKGROUND CHECKS ON THOSE SEEKING CFP CERTIFICATION, CFP PROFESSIONALS, AND THOSE SEEKING REINSTATEMENT OF THEIR CFP CERTIFICATION. IN 2019, CFP BOARD DEVELOPED AUTOMATED PROCESSES FOR REVIEWING THESE PUBLIC SOURCES, ALLOWING IT TO CONTINUOUSLY DETECT EVIDENCE OF POTENTIAL MISCONDUCT BY CFP PROFESSIONALS. IN 2024, THESE DETECTION EFFORTS RESULTED IN CFP BOARD STAFF OPENING 1148 INVESTIGATIONS. SECOND, CFP BOARD INVESTIGATES POTENTIAL MISCONDUCT. CFP BOARD PROVIDES NOTICE TO THOSE WHO ARE UNDER INVESTIGATION, IDENTIFIES THE GENERAL NATURE OF THE INVESTIGATION, AND OFFERS THEM AN OPPORTUNITY TO RESPOND. AT THE CONCLUSION OF THE INVESTIGATION, CFP BOARD MAKES A PROBABLE CAUSE DETERMINATION AS TO WHETHER GROUNDS FOR SANCTIONS EXIST. CFP BOARD ENFORCEMENT DEPARTMENT STAFF MAY ISSUE A COMPLAINT THAT SETS FORTH THE GROUNDS FOR SANCTIONS, INCLUDING A DETAILED FACTUAL DESCRIPTION OF THE CONDUCT AND A SPECIFIC STATEMENT OF THE ALLEGED VIOLATION. THE RESPONDENT HAS AN OPPORTUNITY TO RESPOND, TO SUBMIT DOCUMENTS, TO FILE MOTIONS, TO PRODUCE AND CROSS-EXAMINE WITNESSES, AND TO BE REPRESENTED BY COUNSEL AT A HEARING ON THE RECORD. THIRD, WHEN A RESPONDENT RESPONDS TO THE COMPLAINT, CFP BOARD'S DISCIPLINARY AND ETHICS COMMISSION (DEC), A PEER-REVIEW BODY MADE UP OF CFP PROFESSIONALS AND PUBLIC MEMBERS, ADJUDICATES EACH MATTER AND DETERMINES WHETHER THE RESPONDENT VIOLATED THE CODE AND STANDARDS, AND IF SO, WHAT SANCTION IS APPROPRIATE. A THREE-PERSON HEARING PANEL CONDUCTS A REVIEW OR HOLDS A HEARING, CONSIDERS THE EVIDENCE, AND RECOMMENDS TO THE DEC WHETHER TO FIND THAT A VIOLATION HAS OCCURRED AND WHETHER THERE ARE GROUNDS FOR SANCTION, AND, IF SO, THE APPROPRIATE SANCTION. THE DEC THEN MUST REVIEW DE NOVO AND ACCEPT, REJECT, OR MODIFY THE HEARING PANEL'S FINDINGS AND RECOMMENDATIONS. A RESPONDENT HAS THE RIGHT TO APPEAL AN ADVERSE DECISION TO THE APPEALS COMMISSION, A PEER-REVIEW BODY MADE UP OF CFP PROFESSIONALS AND PUBLIC MEMBERS, WHICH ISSUES THE FINAL DECISION OF CFP BOARD. RESPONDENT AND ENFORCEMENT COUNSEL ALSO MAY AGREE UPON A SETTLEMENT OFFER, IN THE FORM OF A PROPOSED CONSENT ORDER, WHICH A THREE-PERSON SETTLEMENT REVIEW PANEL REVIEWS AND THEN RECOMMENDS TO THE DEC WHETHER TO ACCEPT OR REJECT THE PROPOSED CONSENT ORDER. THE DEC THEN MUST REVIEW DE NOVO AND ACCEPT OR REJECT THE SETTLEMENT PANEL'S RECOMMENDATION. COUNSEL TO THE DEC (DEC COUNSEL) CAN ISSUE AN ADMINISTRATIVE SANCTION UPON MOTION BY ENFORCEMENT COUNSEL IF A RESPONDENT IS IN DEFAULT, INCLUDING BY FAILING TO COOPERATE WITH AN INVESTIGATION OR RESPOND TO A COMPLAINT.IN 2024, THE TOTAL NUMBER OF FINAL SANCTIONS ISSUED BY THE DEC AND CFP BOARD STAFF WAS 82, INCLUDING 19 REVOCATIONS OR PERMANENT BARS, 14 SUSPENSIONS OR TEMPORARY BARS, 8 INTERIM SUSPENSIONS, 12 PUBLIC CENSURES, AND 7 PRIVATE CENSURES. IN ADDITION TO UNDERTAKING OR SUPPORTING THE ACTIVITIES DESCRIBED ABOVE, CFP BOARD'S PROFESSIONAL STANDARDS & LEGAL DEPARTMENT ALSO REVIEWS, MONITORS AND ENFORCES CFP BOARD'S TRADEMARK RIGHTS; PROVIDES SUPPORT TO THE CODE AND STANDARDS ENFORCEMENT AND GOVERNANCE COMMITTEES OF THE BOARD OF DIRECTORS; DEVELOPS GUIDANCE RESOURCES THAT INTERPRET THE CODE AND STANDARDS; PROPOSES REVISED VERSIONS OF THE CODE AND STANDARDS, PROCEDURAL RULES, FITNESS STANDARDS, AND SANCTION GUIDELINES; REVIEWS, FINALIZES, AND ENFORCES CONTRACTS; MEETS WITH CFP BOARD'S BUSINESS MODEL COUNCIL; AND PROVIDES OTHER LEGAL, GOVERNANCE AND EXECUTIVE LEADERSHIP ADVICE. COMMUNICATIONS AND OUTREACH: IN 2024, CFP BOARD'S COMMUNICATIONS AND OUTREACH INCLUDED MEDIA RELATIONS, PUBLIC RELATIONS, CFP PROFESSIONAL COMMUNICATIONS, DISTRIBUTION OF EDUCATIONAL MATERIALS THROUGH CFP.NET AND LETSMAKEAPLAN.ORG WEBSITES, AS WELL AS OTHER OUTREACH TACTICS DESIGNED TO INCREASE AND ENHANCE AWARENESS OF CFP CERTIFICATION AND THE BENEFITS OF FINANCIAL PLANNING. EFFORTS UTILIZED TRADITIONAL EARNED AND PAID MEDIA, CFP BOARD WEBSITES, DIRECT MAIL AND EMAIL AND SPEAKING APPEARANCES TO EDUCATE CFP PROFESSIONALS AND INFORM THE PUBLIC ABOUT THE VALUE OF A CFP PROFESSIONAL IN PROVIDING COMPETENT AND ETHICAL PERSONAL FINANCIAL PLANNING SERVICES IN THEIR BEST INTEREST.IN SUPPORT OF CREATING A SUSTAINABLE FINANCIAL PLANNING WORKFORCE, CFP BOARD OF STANDARDS SEEKS TO INCREASE AWARENESS OF FINANCIAL PLANNING AS AN ATTRACTIVE CAREER CHOICE. FUTURE FINANCIAL PLANNER INITIATIVES INCLUDE NATIONAL CAREER AWARENESS CAMPAIGNS PROMOTING THE PROFESSION TO COLLEGE STUDENTS AND CAREER CHANGERS, CAREER CHANGE STUDIOS LED BY CFP PROFESSIONALS FROM A VARIETY OF PROFESSIONAL BACKGROUNDS, AND ON UNDERGRADUATE SUPPORT PROGRAMS FOR COLLEGES AND UNIVERSITIES WITH REGISTERED FINANCIAL PLANNING PROGRAMS.IN SUPPORT OF CREATING A SUSTAINABLE FINANCIAL PLANNING WORKFORCE, CFP BOARD OF STANDARDS SEEKS TO INCREASE AWARENESS OF FINANCIAL PLANNING AS AN ATTRACTIVE CAREER CHOICE. FUTURE FINANCIAL PLANNER INITIATIVES INCLUDE NATIONAL CAREER AWARENESS CAMPAIGNS PROMOTING THE PROFESSION TO COLLEGE STUDENTS AND CAREER CHANGERS, ONLINE CAREER CHANGE STUDIOS LED BY CFP PROFESSIONALS FROM A VARIETY OF PROFESSIONAL BACKGROUNDS, AND UNDERGRADUATE SUPPORT PROGRAMS FOR COLLEGES AND UNIVERSITIES WITH CFP BOARD REGISTERED FINANCIAL PLANNING PROGRAMS. EXAMINATION AND CERTIFICATION: IN 2024, 10437 CANDIDATES SAT FOR THE CFP EXAMINATION. THE CFP CERTIFICATION EXAMINATION ASSESSES A CANDIDATE'S ABILITY TO APPLY FINANCIAL PLANNING KNOWLEDGE, IN AN INTEGRATED FORMAT, TO REAL-LIFE FINANCIAL PLANNING SCENARIOS. THE EXAM IS DEVELOPED WITH SUBJECT MATTER EXPERTISE PROVIDED BY EXPERIENCED CFP PROFESSIONALS. UNDER CFP BOARD'S DIRECTION, THE EXAM IS ADMINISTERED BY ONE OF THE WORLD'S LEADING TESTING PARTNERS AND SINCE NOVEMBER 2014, IS DELIVERED IN A COMPUTER-BASED FORMAT. CFP BOARD ADHERES TO STANDARDS AND BEST PRACTICES IN THE HIGH STAKES TESTING AND CERTIFICATION INDUSTRIES.CERTIFICATION: THERE WERE 103,093 CFP PROFESSIONALS AT THE END OF 2024, OF WHICH 6,541WERE GRANTED INITIAL CERTIFICATION DURING THE YEAR. SUCCESSFUL COMPLETION OF THE EXAMINATION, EDUCATION, EXPERIENCE, AND ETHICS REQUIREMENTS IS A PREREQUISITE TO INITIAL CFP CERTIFICATION. CFP BOARD'S CERTIFICATION PROGRAM IS ACCREDITED BY AN INDEPENDENT THIRD-PARTY ORGANIZATION, THE NATIONAL COMMISSION FOR CERTIFYING AGENCIES (NCCA), TO ENSURE THAT ALL REQUIREMENTS FOR INITIAL CERTIFICATION AND RENEWAL ARE CONSISTENT WITH BEST PRACTICES AND STANDARDS IN THE CERTIFICATION INDUSTRY. FURTHER, NCCA REQUIRES CERTIFYING ORGANIZATIONS TO MEET GOVERNANCE, STAFF QUALIFICATION, FINANCIAL AND RESOURCE TRANSPARENCY, FAIRNESS, DUE PROCESS, AND NON-DISCRIMINATION STANDARDS. CAREER CENTER:CFP BOARD OF STANDARDS SEEKS TO CREATE A MORE SUSTAINABLE FINANCIAL PLANNING WORKFORCE ACROSS A BROAD RANGE OF PERSPECTIVES, BACKGROUNDS, AND EXPERIENCES SO THAT CONSUMERS HAVE ACCESS TO COMPETENT AND ETHICAL FINANCIAL PLANNING ADVICE. THE CFP BOARD CAREER CENTER AND BI-ANNUAL CAREER FAIRS FACILITATE ENTRY POINTS INTO THE FINANCIAL PLANNING PROFESSION BY CONNECTING THOUSANDS OF QUALIFIED JOB SEEKERS TO JOB AND INTERNSHIP OPPORTUNITIES AT HIRING FIRMS. PUBLIC ADVOCACY: CFP BOARD'S CORE PUBLIC POLICY OBJECTIVES ARE TO INFLUENCE POLICY TO BENEFIT THE PUBLIC AND TO INCREASE ACCESS TO COMPETENT AND ETHICAL FINANCIAL PLANNERS. DURING 2024, CFP BOARD ENCOURAGED FEDERAL POLICYMAKERS TO USE CFP BOARD'S CODE OF ETHICS & STANDARDS OF CONDUCT AS A FRAMEWORK FOR UPDATED STANDARDS OF CONDUCT FOR PERSONALIZED INVESTMENT ADVICE AND SUPPORTED THE DEPARTMENT OF LABOR'S RETIREMENT SECURITY RULE. CFP BOARD ADVOCATED FOR LEGISLATIVE PROPOSALS RELATED TO PRIVATE CERTIFICATION, PROPOSALS THAT WOULD PROVIDE TAX INCENTIVES FOR CONSUMERS ACCESSING FINANCIAL PLANNING AND FOR CFP PROFESSIONALS PROVIDING FINANCIAL PLANNING, AND THOSE THAT WOULD PROVIDE INVESTOR PROTECTION. CFP BOARD ENGAGED IN CONVERSATIONS WITH POLICYMAKERS AND OTHER INTERESTED PARTIES ABOUT POLICIES THAT WOULD HELP MORE AMERICANS ENJOY A FINANCIALLY SECURE RETIREMENT. 0 0 0 1 0 0 0 0 0 1 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 102 0 1 0 1 1 0 0 0 0 0 0 0 X 14 14 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 1 1 1 1 0 X KEVIN YEA CPA CFO 2023792260 1425 K STREET NW WASHINGTON DC 20005 MATT BOERSEN CFP CFA BOARD CHAIR 3.00 2.00 X X 0 0 0 LOUIS BARAJAS CFP MBA BOARD MEMBER 3.00 2.00 X 0 0 0 MARGUERITA CHENG CFP BOARD MEMBER 3.00 2.00 X 0 0 0 ANERI JAMBUSARIA CFP MBA BOARD MEMBER 3.00 2.00 X 0 0 0 TERRI KALLSEN CFP BOARD MEMBER 3.00 2.00 X 0 0 0 MALIK LEE CFP CAP APMA BOARD MEMBER 3.00 2.00 X 0 0 0 LINDA LEITZ PHDCFP EA BOARD MEMBER 3.00 2.00 X 0 0 0 ELIZABETH K MILLER CFP CFA BOARD MEMBER 3.00 2.00 X 0 0 0 PETER ROHR CFP BOARD MEMBER 3.00 2.00 X 0 0 0 MARTIN SEAY PH D CFP BOARD MEMBER 3.00 2.00 X 0 0 0 RICHARD SHAW CFP MBA BOARD MEMBER 3.00 2.00 X 0 0 0 RICK SHERLOCK BOARD MEMBER 3.00 2.00 X 0 0 0 NANCY SMITH JD BOARD MEMBER 3.00 2.00 X 0 0 0 ELISSE WALTER JD BOARD MEMBER 3.00 2.00 X 0 0 0 KEVIN KELLER CHIEF EXECUTIVE OFFICER 40.00 5.00 X 0 1106080 185473 LEO RYDZEWSKI GENERAL COUNSEL 40.00 5.00 X 0 646442 137118 KEVIN YEA CHIEF FINANCIAL OFFICER 40.00 5.00 X 0 413298 107727 ELIZABETH STEWART CHIEF OPERATING OFFICER THRU 01/24 40.00 5.00 X 0 375511 47960 THOMAS SPORKIN MANAGING DIRECTOR 40.00 5.00 X 0 476001 145221 DANE SNOWDEN CHIEF OPERATING OFFICER 40.00 5.00 X 0 553504 156529 LISA DAVIS MANAGING DIRECTOR 5.00 40.00 X 0 232434 112515 JAMES KATSAOUNIS MANAGING DIRECTOR 40.00 5.00 X 0 342865 59269 JOSEPH MAUGERI MANAGING DIRECTOR THRU 08/24 40.00 5.00 X 0 537250 105097 JOHN LOPER MANAGING DIRECTOR 40.00 5.00 X 0 320496 64690 ERIN KOEPPEL MANAGING DIRECTOR 40.00 5.00 X 0 324322 49555 ADAM ZAJAC MANAGING DIRECTOR 40.00 5.00 X 0 293891 44932 0 5622094 1216086 0 0 1 0 THE BUNTIN GROUP INC 230 WILLOW STREET NASHVILLE TN 37210 ADVERTISING 16067716 PROMETRIC INC 1501 SOUTH CLINTON STREET BALTIMORE MD 21224 TESTING SERVICES 1656096 MARKETING GENERAL INC 625 N WASHINGTON ST STE 450 ALEXANDRIA VA 22314 MARKETING SERVICES 1330583 HILTON WASHINGTON 1919 CONNECTICUT AVE NW WASHINGTON DC 20009 2024 CONNECTIONS CONFERENCE 1003186 INTERACTIVE STRATEGIES 113 CONNECTICUT AVE NW WASHINGTON DC 20036 SOFTWARE DEVELOPMENT 560792 50 CERTIFICATION FEES 900099 29837402 29837402 PUBLIC AWARENESS CAMPAIGN 900099 16722552 16722552 EXAM FEES 900099 9410815 9410815 EDUCATIONAL FEES 900099 4566280 4566280 APPLICATION FEES 900099 1308400 1308400 307431 307431 62152880 818758 818758 1943545 1996760 -53215 -53215 -53215 44646 29188 15458 15458 SHARED SERVICES 900099 1768183 1768183 CAREER CENTER 900099 545141 545141 2313324 65247205 62168338 545141 2533726 X 563723 4350864 13390253 1205596 2099650 1125928 172543 146515 241443 23934 7154240 21225519 2447751 825614 1880186 1576787 1045822 518702 1487010 391098 PROFESSIONAL DUES 505143 SHARED SERVICES 415922 RECOGNITION, AWARDS & G 128022 PROFESSIONAL DEVELOPMEN 119150 6685 63048100 8191475 10643909 274308 195855 722825 868336 6413268 2496225 4817271 3917043 8916142 19923864 1589166 2249150 531553 600458 26472315 15134933 51515055 53533548 4342345 4200277 25254962 25866145 11261 17524704 15974635 47133272 46041057 X 4381783 7492491 4381783 7492491 51515055 53533548 2199105 911603 0 X 0 1 X 1 0 0 0 0 241443 241443 0 SCHEDULE C, PART III-B, LINE 1 THE ORGANIZATION DOES NOT HAVE MEMBERSHIP DUES AS DEFINED IN REV. PROC. 98-19. RATHER, INDIVIDUAL CERTIFICATION HOLDERS MAY PROVIDE NONDEDUCTIBLE LOBBYING CONTRIBUTIONS AT THEIR OWN DISCRETION. AS A RESULT, PART III-B, LINE 3 IS NOT APPLICABLE. 2768136 933093 1835043 861053 431569 429484 2784079 1131563 1652516 3917043 DUE FROM RELATED PARTY 3607260 RIGHT OF USE ASSETS 11527673 15134933 LEASE LIABILITY 15974635 15974635 X PART X, LINE 2: THE BOARD OF STANDARDS IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(6) OF THE IRC AND HAS BEEN CLASSIFIED BY THE INTERNAL REVENUE SERVICE AS AN ORGANIZATION THAT IS NOT A PRIVATE FOUNDATION. UNDER PROVISIONS OF THE IRC SECTION 501(C)(6), AND APPLICABLE STATE REGULATIONS, CFP BOARD IS EXEMPT FROM TAXES EXCEPT FOR UNRELATED BUSINESS INCOME. FOR CONSOLIDATED FINANCIAL STATEMENT PURPOSES, THE ORGANIZATION IS REQUIRED TO RECORD A LIABILITY FOR ANY MATERIAL TAX POSITION TAKEN WHICH DOES NOT MEET THE MINIMUM THRESHOLDS OF MORE LIKELY THAN NOT TO BE SUCCESSFUL UNDER REGULATORY CHALLENGE. NO PROVISION FOR INCOME TAXES HAS BEEN RECORDED IN 2024, SINCE MANAGEMENT BELIEVES THERE ARE NO MATERIAL UNRELATED BUSINESS INCOME OR MATERIAL UNCERTAIN TAX POSITIONS REQUIRING THE RECOGNITION OF A LIABILITY. 1 CFP BOARD OF STANDARDS CENTER FOR FINANCIAL PLANNING 1425 K STREET NW STE 800 WASHINGTON DC 20005 742385850 501(C)(3) 563723 0 N/A N/A TO SUPPORT THE CENTER'S ONGOING EFFORTS TO ADVANCE COMPETENT AND ETHICAL FINANCIAL PLANNING AND EXPAND CFP PROFESSIONAL DIVERSITY FOR THE BENEFIT OF THE PUBLIC. 1 0 PART I, LINE 2: THE ORGANIZATION PROVIDED ASSISTANCE TO THE CERTIFIED FINANCIAL PLANNER BOARD OF STANDARDS, A 501(C)(3) RELATED ORGANIZATION, FOR GENERAL OPERATING SUPPORT. 1 1 0 KEVIN KELLER CHIEF EXECUTIVE OFFICER 0 751449 0 354631 0 0 0 157500 0 27973 0 1291553 0 0 LEO RYDZEWSKI GENERAL COUNSEL 0 482117 0 84350 0 79975 0 131000 0 6118 0 783560 0 79975 DANE SNOWDEN CHIEF OPERATING OFFICER 0 553504 0 0 0 0 0 151000 0 5529 0 710033 0 0 JOSEPH MAUGERI MANAGING DIRECTOR THRU 08/24 0 232295 0 36374 0 268581 0 82374 0 22723 0 642347 0 182773 THOMAS SPORKIN MANAGING DIRECTOR 0 394416 0 81585 0 0 0 121000 0 24221 0 621222 0 0 KEVIN YEA CHIEF FINANCIAL OFFICER 0 354993 0 58305 0 0 0 94000 0 13727 0 521025 0 0 ELIZABETH STEWART CHIEF OPERATING OFFICER THRU 01/24 0 27427 0 62700 0 285384 0 46000 0 1960 0 423471 0 285384 JAMES KATSAOUNIS MANAGING DIRECTOR 0 275717 0 67148 0 0 0 46000 0 13269 0 402134 0 0 JOHN LOPER MANAGING DIRECTOR 0 255508 0 64988 0 0 0 43088 0 21602 0 385186 0 0 ERIN KOEPPEL MANAGING DIRECTOR 0 276081 0 48241 0 0 0 43199 0 6356 0 373877 0 0 LISA DAVIS MANAGING DIRECTOR 0 232434 0 0 0 0 0 97298 0 15217 0 344949 0 0 ADAM ZAJAC MANAGING DIRECTOR 0 261607 0 32284 0 0 0 39270 0 5662 0 338823 0 0 PART I, LINES 4A-B 457(F) PLAN MAINTAINED BY RELATED 501(C)(3) ENTITY, CERTIFIED FINANCIAL PLANNER BOARD OF STANDARDS CENTER FOR FINANCIAL PLANNING - ALL APPROVED EXECUTIVES PARTICIPATE IN THE PLAN. A NON-QUALIFIED DEFERRED COMPENSATION PLAN IS MAINTAINED IN ACCORDANCE WITH SECTION 457(F) OF THE INTERNAL REVENUE CODE FOR THE BENEFIT OF THE ORGANIZATION'S CHIEF EXECUTIVE OFFICER (CEO) AND APPROVED EXECUTIVES. UNDER THE TERMS OF THE PLAN, BEGINNING JANUARY 1 OF EACH CALENDAR YEAR, EXECUTIVES WHO WERE EMPLOYED AT THE ORGANIZATION IN THE PREVIOUS CALENDAR YEAR MAY EARN A COMPENSATION AWARD AS DETERMINED BY THE CEO. SUCH A COMPENSATION AWARD IS ALSO REVIEWED BY THE CEO OVERSIGHT AND COMPENSATION COMMITTEE. THE CEO MAY EARN AN ADDITIONAL AMOUNT AS DETERMINED BY THE BOARD OF DIRECTORS. THE CEO'S DEFERRED COMPENSATION IS VESTED AND PAID OUT IN ACCORDANCE WITH THE TERMS OF HIS CONTRACT. EACH DEFERRED COMPENSATION AWARD FOR ALL OTHER APPROVED EXECUTIVES IS GENERALLY VESTED THREE YEARS FROM THE GRANT DATE. UPON VESTING THE AWARD IS PAID OUT TO THE EXECUTIVE. THE AWARD IS AT RISK OF FORFEITURE UNTIL IT IS FULLY VESTED. THE CASH DISTRIBUTION AMOUNTS REFLECTED ON THE SECOND LIST OF THE FOLLOWING PAGE WERE AWARDED PREVIOUSLY AND MET THE VESTING REQUIREMENTS DURING THE YEAR IN WHICH THEY WERE PAID OUT. THE FOLLOWING EXECUTIVES PARTICIPATED IN THE PLAN: NAME TITLE AMOUNT KEVIN R. KELLER CHIEF EXECUTIVE OFFICER $100,000 KEVIN YEA CHIEF FINANCIAL OFFICER $48,000 LEO RYDZEWSKI GENERAL COUNSEL $85,000 DANE SNOWDEN CHIEF OPERATING OFFICER $105,000 THOMAS SPORKIN MANAGING DIRECTOR $75,000 LISA DAVIS MANAGING DIRECTOR $62,000 THE FOLLOWING EXECUTIVES RECEIVED A 457F CASH DISTRIBUTION: NAME TITLE AMOUNT LEO RYDZEWSKI GENERAL COUNSEL $79,975 ELIZABETH STEWART CHIEF OPERATING OFFICER $285,384 JOSEPH MAUGERI MANAGING DIRECTOR $182,773 JOSEPH MAUGERI RECEIVED A PAYMENT OF $85,808 PER A VOLUNTARY RETIREMENT PAYOUT, AND THE AMOUNT IS INCLUDED IN HIS TAXABLE COMPENSATION. FORM 990, PART VI, SECTION A, LINE 8B THERE IS NO COMMITTEE WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BOARD. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY THE CPA FIRM CLIFTONLARSONALLEN LLP WITH SIGNIFICANT INPUT FROM CFP BOARD MANAGEMENT AND STAFF. IT IS THEN REVIEWED BY THE AUDIT COMMITTEE AND RISK COMMITTEE. ONCE THE AUDIT AND RISK COMMITTEE HAS APPROVED, THE FORM IS PROVIDED TO THE BOARD OF DIRECTORS FOR REVIEW PRIOR TO ITS FILING. FORM 990, PART VI, SECTION B, LINE 12C CFP BOARD CENTER FOR FINANCIAL PLANNING ADDRESSES CONFLICTS OF INTEREST IN ITS EMPLOYEE HANDBOOK FOR EMPLOYEES AND VOLUNTEER AGREEMENT FOR VOLUNTEERS. CFP BOARD REQUIRES EMPLOYEES TO ADVISE THE DIRECTOR OF HUMAN RESOURCES, AND VOLUNTEERS TO NOTIFY CFP BOARD'S GENERAL COUNSEL, OF ANY TRANSACTION OR OTHER ACTIVITY THAT MIGHT PRESENT A CONFLICT OF INTEREST. STAFF CONFLICTS ARE REVIEWED BY THE HR DIRECTOR, AND VOLUNTEER CONFLICTS ARE REVIEWED BY EITHER THE GOVERNANCE COMMITTEE OR THE CEO, DEPENDING ON THE INDIVIDUAL INVOLVED. IN 2024, THE GOVERNANCE COMMITTEE REPORTED TO THE BOARD ON CONFLICTS THAT WERE REVIEWED WHERE ACTION WAS TAKEN AS WELL AS POTENTIAL CONFLICTS THAT WERE REVIEWED AND DETERMINED THAT WERE NOT ACTUAL OR PERCEIVED CONFLICTS. FORM 990, PART VI, SECTION B, LINE 15 THE CEO OVERSIGHT AND COMPENSATION COMMITTEE ESTABLISHES AND MONITORS CEO COMPENSATION TO ENSURE THAT IT IS COMPETITIVE WITH OTHER NON-PROFIT INSTITUTIONS THAT FOCUS ON FINANCIAL SERVICES, LOCATED IN WASHINGTON, DC. THE COMMITTEE CONSISTS OF MEMBERS OF THE BOARD OF DIRECTORS AND DOES NOT INCLUDE THE CEO. THE COMMITTEE ENGAGED A COMPENSATION CONSULTANT TO EVALUATE THE CURRENT CEO SALARY AND STRUCTURE. THE CONSULTANT UTILIZED COMPARABLE DATA IN ORDER TO SUBSTANTIATE THEIR SALARY RECOMMENDATIONS FOR THE CEO. THIS PROCESS TOOK PLACE IN 2024. THE CEO ENGAGES A COMPENSATION CONSULTANT TO REVIEW AND EVALUATE OTHER OFFICER AND KEY EMPLOYEE SALARIES. THE CONSULTANT UTILIZED COMPARABLE DATA IN ORDER TO SUBSTANTIATE THEIR SALARY RECOMMENDATIONS FOR OTHER OFFICER AND KEY EMPLOYEE SALARIES. THIS PROCESS TOOK PLACE IN 2024. FORM 990, PART VI, SECTION C, LINE 19 CFP BOARD'S BYLAWS ARE AVAILABLE FOR DOWNLOAD FROM THE ORGANIZATION'S WEBSITE. THE CONFLICT-OF-INTEREST POLICY, AND FINANCIAL STATEMENTS ARE NOT AVAILABLE TO THE PUBLIC. FORM 990, PART IX, LINE 11G OUTSIDE SERVICES 1,668,493. PROFESSIONAL SERVICES 4,039,793. RECRUITMENT, ADVERTISING AND PROFESSIONAL SERVICES 750,079. RESEARCH 611,853. TEMPORARY LABOR 84,022. CERTIFIED FINANCIAL PLANNER BOARD OF STANDARDS CENTER FOR FINANCIAL PLANNIN 1425 K STREET NW STE 800 WASHINGTON CT 20005 742385850 ADVANCING COMPETENT AND ETHICAL FINANCIAL PLANNING AND EXPAND CFP PROFESSIO DC 501(C)(3) LINE 10 0 0 1 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0 1 0 CFP BOARD OF STANDARDS CENTER FOR FINANCIAL PLANNING B 563723 COST CFP BOARD OF STANDARDS CENTER FOR FINANCIAL PLANNING N 1768184 COST CFP BOARD OF STANDARDS CENTER FOR FINANCIAL PLANNING O 390921 COST