2018-05-11T14:29:48-05:00 2017-06-30 420714325 RSM US LLP 9737 Washingtonian Blvd 400 Gaithersburg MD 20878 990 2016-07-01 581424769 ASSOCIATION FOR FINANCIAL PROFESSIONALS ASSO 3019072862 4520 EAST WEST HwY No 800 BETHESDA MD 20814 JOSEPH A DESALVIO CHIEF FINANCIAL OFFICER 3019072862 2018-05-10 1 WILLIAM E TURCO CPA P00369217 3012963600 2016 2022-09-23 18:48:47Z JAMES A KAITZ 4520 EAST WEST HwY No 800 BETHESDA MD 20814 27661392 0 X WWW.AFPONLINE.0RG X 1980 MD The professional society that represents finance executives globally. The association established and administers the Certified Treasury Professional and Certified Corporate FP&A Professional credentials, which set standards of excellence in finance. Members are supported through research, education, certification, publications and representation. 17 17 92 521 876156 32185 0 0 22383928 21894724 935399 1328319 13083 19056 23332410 23242099 13478 4635 0 0 10228240 9838011 0 0 0 13301915 11944695 23543633 21787341 -211223 1454758 25246871 30047852 14567356 16699846 10679515 13348006 X To be the preferred global resource and advocate for the finance profession. 0 0 Annual Conference:Premier networking and educational event including more than 130 work- shops, peer reviewed lectures, and presentations 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. Membership and Marketing Research Website 0 0 0 1 0 0 0 0 0 1 1 0 1 1 1 0 1 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 1 81 0 1 92 1 1 1 1 CA 0 0 0 0 X 17 17 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 0 0 X JOSEPH DESALVIO 3019072862 4520 EAST WEST HwY No 800 BETHESDA MD 20814 Jeff Johnson Board Chairman 5.00 X X 0 0 0 June Johnson Vice Chairman 5.00 X X 0 0 0 Robert Whitaker Vice Chairman 5.00 X X 0 0 0 Anthony Scaglione Past Chairman 5.00 X 0 0 0 Ann Anthony Director 5.00 X 0 0 0 Terry Crawford Director 5.00 X 0 0 0 Melvyn D'Souza Director 5.00 X 0 0 0 Chris Fulton Director 5.00 X 0 0 0 T Jonathan Hall Director 5.00 X 0 0 0 Patricia Hui Director 5.00 X 0 0 0 Ferdinand Jahnel Director 5.00 X 0 0 0 Rue Jenkins Director 5.00 X 0 0 0 Jordan Krugman Director 5.00 X 0 0 0 Dana Laidhold Director 5.00 X 0 0 0 Joan Piscitello Director 5.00 X 0 0 0 Matthew Skurbe Director 5.00 X 0 0 0 Stephanie Uhl Director 5.00 X 0 0 0 SUSAN GLASS DIRECTOR UNTIL 10/2016 5.00 X 0 0 0 ANITA PATTERSON DIRECTOR UNTIL 10/2016 5.00 X 0 0 0 ROBERTA EISEMAN DIRECTOR UNTIL 10/2016 5.00 X 0 0 0 KRISTEN WALLE DIRECTOR UNTIL 10/2016 5.00 X 0 0 0 ADRIAN URBAN DIRECTOR UNTIL 10/2016 5.00 X 0 0 0 James Kaitz CEO 50.00 X 950426 0 164172 Joseph Desalvio CFO 50.00 X 314613 0 37955 Jeff Glenzer Chief Operating Officer 50.00 X 281362 0 35950 Patrick Culkin VP, Strategy 40.00 X 283507 0 37101 David Lewis Managing Director, Membership 40.00 X 207179 0 24707 Donna Berzellini Managing Director, Certification 40.00 X 205761 0 34243 Elizabeth Gunzel Managing Dir., People & Training 40.00 X 188735 0 14444 Melissa Rawak Managing Dir., Marketing & Meetings 40.00 X 195282 0 26858 Maryellen Saunders Managing Director, Educati 40.00 X 165894 0 5512 Craig Martin Director, Treasury Practic 40.00 X 204710 0 26390 Kevin Boyle Director, Sales 40.00 X 196729 0 30779 Justin Barch Director, Corporate Sales 40.00 X 172160 0 13630 Thomas Hunt Director, Treasury Services 40.00 X 159268 0 30180 3525626 0 481921 31 0 1 0 Centerplate 1901 Cenvention Center Dr Room 206 Miami Beach FL 33139 conference catering 1594862 Gravitate Solutions LLC 625 N Washington Street Suite 310 Alexandria VA 22314 AMS/CRM consultants 1046466 Willims Gerard Productions Inc 26826 Network Place Chicago IL 60673 conference production services 866077 Freeman Audio Visual 4545 West Davis Street Dallas TX 75211 conference audiovisual svcs 843133 NCS Pearson Inc 13036 Collection Center Dr Chicago IL 60693 certification testing 623602 46 CONFERENCES 541900 11061214 5347211 221320 5492683 MEMBERSHIP DUES 900099 5983405 5983405 PROFESSIONAL DEVELOPME 541900 4274278 4126964 147314 COMMUNICATIONS 511120 575827 68305 507522 21894724 373702 373702 19056 19056 4932139 441771 4346917 72376 585222 369395 954617 954617 23242099 15525885 876156 6840058 X 4635 2996457 5446247 345625 549001 500681 109727 39587 50814 4445797 202861 1518828 671266 697705 871152 1514437 891 460823 160420 HONORARIA 990637 Dues & subscriptions 45974 Taxes 36319 volunteer recognition 3967 123490 21787341 2257870 3317753 1644963 2366371 1655283 1299405 5457294 3491133 734283 1966161 7555913 9765501 8661072 8372989 2737487 2959672 25246871 30047852 2561097 2359852 9008515 10077010 2997744 4262984 14567356 16699846 X 8499195 11184431 2180320 2163575 10679515 13348006 25246871 30047852 X 1454758 1213258 475 X 0 1 X 1 0 0 1 0 602812 94539 508273 3369125 2504480 864645 1485357 892114 593243 1966161 145558.997-Doubleline Total Return 1554570 F 159395.803-Blackstone Alt Multi 1710317 F 8294.419-Vanguard 500 Index FD 1855876 F 149626.996-Franklin K2 Alternative 1675822 F 118884.198-Vanguard Developed MKTS 1576404 F 8372989 Deferred Compensation 2959672 2959672 Deferred Compensation 2959672 Deferred Rent 1274580 Capital Lease Payable 28732 4262984 X 24025769 1213258 -451150 762108 23263661 50814 -72376 -21562 23242099 21806636 72376 72376 21734260 50814 2267 53081 21787341 Part X, Line 2: The Association is exempt from the payment of federal income taxes on its exempt activities under Section 501(c)(6) of the Internal Revenue Code (IRC). However, the Association is subject to income tax on unrelated business income activity. For the years ended June 30, 2017 and 2016, the Association had net unrelated business income of approximately $27,000 and $38,000, respectively. AFPC is exempt from the payment of Canadian income taxes on its exempt activities under Section 149(1)e of the Income Tax Act. C-Stream is subject to the UK corporation tax. The accounting standard on accounting for uncertainty in income taxes addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under this guidance, the organization may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. The guidance on accounting for uncertainty in income taxes also addresses de-recognition, classification, interest and penalties on income taxes and accounting in interim periods. Management evaluated the Association's tax positions and concluded that the Association has taken no uncertain tax positions that require adjustment to the consolidated financial statements to comply with the provisions of this guidance. Generally, the Association is no longer subject to income tax examinations by the U.S. federal, state or local tax authorities for years before 2014. Part XI, Line 2d - Other Adjustments: affiliate revenue included in the consolidated financial statement -449,354. unrealized gain on foreign currency 471. Consultant fees to functional expense -2,267. Part XI, Line 4b - Other Adjustments: Loss on disposal of property & equipment -72,376. Part XII, Line 2d - Other Adjustments: Loss on disposal of property & equipment 72,376. Part XII, Line 4b - Other Adjustments: Consultant fees to functional expense 2,267. Europe (Including Iceland & Greenland) 0 0 Investment in C-Stream, LTD. 212060 0 0 0 0 0 0 212060 0 212060 0 0 1 0 0 0 X 1 1 X X X X X 1 1 0 James Kaitz CEO 682820 0 236250 0 31356 0 143550 0 22450 0 1116426 0 0 0 Joseph Desalvio CFO 248725 0 37500 0 28388 0 18550 0 21405 0 354568 0 0 0 Jeff Glenzer Chief Operating Officer 224660 0 37500 0 19202 0 18550 0 18987 0 318899 0 0 0 Patrick Culkin VP, Strategy 213519 0 42500 0 27488 0 18550 0 20106 0 322163 0 0 0 David Lewis Managing Director, Membership 162555 0 24000 0 20624 0 11962 0 14133 0 233274 0 0 0 Donna Berzellini Managing Director, Certification 153031 0 30000 0 22730 0 18195 0 17220 0 241176 0 0 0 Elizabeth Gunzel Managing Dir., People & Training 128180 0 33300 0 27255 0 11667 0 8636 0 209038 0 0 0 Melissa Rawak Managing Dir., Marketing & Meetings 164897 0 30000 0 385 0 13836 0 14362 0 223480 0 0 0 Maryellen Saunders Managing Director, Educati 114503 0 0 0 51391 0 2754 0 3149 0 171797 0 0 0 Craig Martin Director, Treasury Practic 188996 0 13000 0 2714 0 14260 0 13299 0 232269 0 0 0 Kevin Boyle Director, Sales 193108 0 2000 0 1621 0 13826 0 18064 0 228619 0 0 0 Justin Barch Director, Corporate Sales 156971 0 15000 0 189 0 12038 0 2507 0 186705 0 0 0 Thomas Hunt Director, Treasury Services 143295 0 15500 0 473 0 10846 0 20551 0 190665 0 0 0 Part I, Line 1a JAMES KAITZ, HEALTH CLUB DUES $534, INCLUDED IN TAXABLE WAGES. Part I, Lines 4a-b MaryEllen Saunders received a severance payment in the amount of $46,551 and this amount is included in Schedule J, Part II, Column B(III). James Kaitz participates in the 457(f) plan and the contribution to the plan was $125,000 during the calendar year ended 2016. Donna Berzellini participates in the 457(f) plan and the contribution to the plan was $5,000 during the calendar year ended 2016. Form 990, Part VI, Section A, line 6 The organization has following types of members: Practitioner Member - An individual is a Practitioner Member if he or she is involved in financial management functions within his or 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 or 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 or 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 OF BOARD 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 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 AFTER FILING WITH THE IRS. Form 990, Part VI, Section B, line 12c ALL EMPLOYEES AND ALL 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 15a 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 OTHER OFFICERS AND KEY EMPLOYEES INCLUDES 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 C, line 19 THE ASSOCIATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC. Form 990, Part IX, line 11g Outside services 3,570,785. Consultants 773,367. Temporary employment 101,645. Form 990, Part XI, line 9: Unrealized gain on Foreign currency 471. Variance 4. C-STREAM LTD DBA GTNEWS 3RD FLOOR NORTHUMBERLAND HOUSE 155- London UK W1W 6QP 981110200 WEB BASED GLOBAL TREASURY/FINANCE RESOURCE UK 0 212060 ASSOCIATION FOR FINANCIAL PROFESSIONALS ASSOCATION FOR FINANCIAL PROFESSIONALS OF CANADA 4520 East West Highway Ste 750 bethesda MD 20814 863274908 MEMBER ASSOCIATION CA N/A 0 Association for Financial Professionals PAC 4520 East West Highway Ste 750 bethesda MD 20814 812529279 PAC Activities MD 527 Association for Financial Professionals 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 C-STREAM LTD DBA GTNEWS E 229436 book Value