﻿<?xml version="1.0" encoding="utf-8"?>
<Return returnVersion="2016v3.0" xsi:schemaLocation="http://www.irs.gov/efile" xmlns="http://www.irs.gov/efile" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
  <ReturnHeader binaryAttachmentCnt="0">
    <ReturnTs>2018-02-27T06:54:18-08:00</ReturnTs>
    <TaxPeriodEndDt>2017-06-30</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmName>
        <BusinessNameLine1Txt>Ruane &amp; Company LLP</BusinessNameLine1Txt>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1Txt>12 Alfred Street Suite 206</AddressLine1Txt>
        <CityNm>Woburn</CityNm>
        <StateAbbreviationCd>MA</StateAbbreviationCd>
        <ZIPCd>01801</ZIPCd>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990EZ</ReturnTypeCd>
    <TaxPeriodBeginDt>2016-07-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>541964448</EIN>
      <BusinessName>
        <BusinessNameLine1Txt>Interactive Financial Exchange Forum</BusinessNameLine1Txt>
        <BusinessNameLine2Txt>Inc</BusinessNameLine2Txt>
      </BusinessName>
      <BusinessNameControlTxt>INTE</BusinessNameControlTxt>
      <PhoneNum>7812460500</PhoneNum>
      <USAddress>
        <AddressLine1Txt>401 Edgewater Place Suite 600</AddressLine1Txt>
        <CityNm>Wakefield</CityNm>
        <StateAbbreviationCd>MA</StateAbbreviationCd>
        <ZIPCd>01880</ZIPCd>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>Anita Brady</PersonNm>
      <PersonTitleTxt>Chairperson</PersonTitleTxt>
      <SignatureDt>2018-02-27</SignatureDt>
      <DiscussWithPaidPreparerInd>true</DiscussWithPaidPreparerInd>
    </BusinessOfficerGrp>
    <PreparerPersonGrp>
      <PreparerPersonNm>Thomas M Ruane CPA</PreparerPersonNm>
      <PTIN>P00005237</PTIN>
      <PhoneNum>7816430090</PhoneNum>
    </PreparerPersonGrp>
    <TaxYr>2016</TaxYr>
    <BuildTS>2021-01-29 14:40:06Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCnt="2">
    <IRS990EZ documentId="IRS990EZ" referenceDocumentId="IRS990ScheduleO TransfersPersonalBenefitsContr" softwareId="16000303" softwareVersionNum="2016v3.0">
      <MethodOfAccountingAccrualInd>X</MethodOfAccountingAccrualInd>
      <ScheduleBNotRequiredInd>X</ScheduleBNotRequiredInd>
      <WebsiteAddressTxt>www.ifxforum.org</WebsiteAddressTxt>
      <Organization501cInd organization501cTypeTxt="6">X</Organization501cInd>
      <TypeOfOrganizationCorpInd>X</TypeOfOrganizationCorpInd>
      <GrossReceiptsAmt>196517</GrossReceiptsAmt>
      <InfoInScheduleOPartIInd>X</InfoInScheduleOPartIInd>
      <ProgramServiceRevenueAmt>196220</ProgramServiceRevenueAmt>
      <InvestmentIncomeAmt>297</InvestmentIncomeAmt>
      <CostOrOtherBasisExpenseSaleAmt>0</CostOrOtherBasisExpenseSaleAmt>
      <FundraisingGrossIncomeAmt>0</FundraisingGrossIncomeAmt>
      <SpecialEventsDirectExpensesAmt>0</SpecialEventsDirectExpensesAmt>
      <CostOfGoodsSoldAmt>0</CostOfGoodsSoldAmt>
      <TotalRevenueAmt>196517</TotalRevenueAmt>
      <SalariesOtherCompEmplBnftAmt>76475</SalariesOtherCompEmplBnftAmt>
      <FeesAndOtherPymtToIndCntrctAmt>80254</FeesAndOtherPymtToIndCntrctAmt>
      <PrintingPublicationsPostageAmt>187</PrintingPublicationsPostageAmt>
      <OtherExpensesTotalAmt>62340</OtherExpensesTotalAmt>
      <TotalExpensesAmt>219256</TotalExpensesAmt>
      <ExcessOrDeficitForYearAmt>-22739</ExcessOrDeficitForYearAmt>
      <NetAssetsOrFundBalancesBOYAmt>13917</NetAssetsOrFundBalancesBOYAmt>
      <NetAssetsOrFundBalancesEOYAmt>-8822</NetAssetsOrFundBalancesEOYAmt>
      <InfoInScheduleOPartIIInd>X</InfoInScheduleOPartIIInd>
      <CashSavingsAndInvestmentsGrp>
        <BOYAmt>122533</BOYAmt>
        <EOYAmt>78243</EOYAmt>
      </CashSavingsAndInvestmentsGrp>
      <OtherAssetsTotalDetail>
        <BOYAmt>16475</BOYAmt>
        <EOYAmt>52566</EOYAmt>
      </OtherAssetsTotalDetail>
      <Form990TotalAssetsGrp>
        <BOYAmt>139008</BOYAmt>
        <EOYAmt>130809</EOYAmt>
      </Form990TotalAssetsGrp>
      <SumOfTotalLiabilitiesGrp>
        <BOYAmt>125091</BOYAmt>
        <EOYAmt>139631</EOYAmt>
      </SumOfTotalLiabilitiesGrp>
      <NetAssetsOrFundBalancesGrp>
        <BOYAmt>13917</BOYAmt>
        <EOYAmt>-8822</EOYAmt>
      </NetAssetsOrFundBalancesGrp>
      <PrimaryExemptPurposeTxt>The purpose of the Interactive Financial Exchange Forum is to facilitate the development of a robust XML framework for the electronic business to business exchange of data among financial service institutions around the world.</PrimaryExemptPurposeTxt>
      <ProgramSrvcAccomplishmentGrp>
        <DescriptionProgramSrvcAccomTxt>The Interactive Financial Exchange Forum was formed in 1997 to create a messaging standard for financial services that would address the challenges faced with the advent of network-based computing models. Through the use of Committees and working groups, the Forum works to facilitate the design of a next generetion XML standard that would be usable in many types of environments, extensible to cover many types of financial transactions, and globally focused in recognition of the increased need to communicate around the world.</DescriptionProgramSrvcAccomTxt>
      </ProgramSrvcAccomplishmentGrp>
      <OfficerDirectorTrusteeEmplGrp>
        <PersonNm>Anita Brady</PersonNm>
        <TitleTxt>Chairperson</TitleTxt>
        <AverageHrsPerWkDevotedToPosRt>4.00</AverageHrsPerWkDevotedToPosRt>
        <CompensationAmt>0</CompensationAmt>
      </OfficerDirectorTrusteeEmplGrp>
      <OfficerDirectorTrusteeEmplGrp>
        <PersonNm>Victor Dossey</PersonNm>
        <TitleTxt>Treasurer</TitleTxt>
        <AverageHrsPerWkDevotedToPosRt>2.00</AverageHrsPerWkDevotedToPosRt>
        <CompensationAmt>0</CompensationAmt>
      </OfficerDirectorTrusteeEmplGrp>
      <OfficerDirectorTrusteeEmplGrp>
        <PersonNm>Murray Heldon</PersonNm>
        <TitleTxt>Secretary</TitleTxt>
        <AverageHrsPerWkDevotedToPosRt>4.00</AverageHrsPerWkDevotedToPosRt>
        <CompensationAmt>0</CompensationAmt>
      </OfficerDirectorTrusteeEmplGrp>
      <OfficerDirectorTrusteeEmplGrp>
        <PersonNm>Ewan McGuire</PersonNm>
        <TitleTxt>Director</TitleTxt>
        <AverageHrsPerWkDevotedToPosRt>2.00</AverageHrsPerWkDevotedToPosRt>
        <CompensationAmt>0</CompensationAmt>
      </OfficerDirectorTrusteeEmplGrp>
      <OfficerDirectorTrusteeEmplGrp>
        <PersonNm>David Moss</PersonNm>
        <TitleTxt>Director</TitleTxt>
        <AverageHrsPerWkDevotedToPosRt>2.00</AverageHrsPerWkDevotedToPosRt>
        <CompensationAmt>0</CompensationAmt>
      </OfficerDirectorTrusteeEmplGrp>
      <OfficerDirectorTrusteeEmplGrp>
        <PersonNm>Frederique Slevin</PersonNm>
        <TitleTxt>Director</TitleTxt>
        <AverageHrsPerWkDevotedToPosRt>2.00</AverageHrsPerWkDevotedToPosRt>
        <CompensationAmt>0</CompensationAmt>
      </OfficerDirectorTrusteeEmplGrp>
      <OfficerDirectorTrusteeEmplGrp>
        <PersonNm>Mark A Schaffer</PersonNm>
        <TitleTxt>Director</TitleTxt>
        <AverageHrsPerWkDevotedToPosRt>2.00</AverageHrsPerWkDevotedToPosRt>
        <CompensationAmt>0</CompensationAmt>
      </OfficerDirectorTrusteeEmplGrp>
      <OfficerDirectorTrusteeEmplGrp>
        <PersonNm>Richard P Urban</PersonNm>
        <TitleTxt>President</TitleTxt>
        <AverageHrsPerWkDevotedToPosRt>40.00</AverageHrsPerWkDevotedToPosRt>
        <CompensationAmt>60000</CompensationAmt>
        <EmployeeBenefitProgramAmt>11800</EmployeeBenefitProgramAmt>
      </OfficerDirectorTrusteeEmplGrp>
      <ActivitiesNotPreviouslyRptInd>false</ActivitiesNotPreviouslyRptInd>
      <ChgMadeToOrgnzngDocNotRptInd>false</ChgMadeToOrgnzngDocNotRptInd>
      <OrganizationHadUBIInd>false</OrganizationHadUBIInd>
      <OrganizationFiled990TInd>false</OrganizationFiled990TInd>
      <SubjectToProxyTaxInd>false</SubjectToProxyTaxInd>
      <OrganizationDissolvedEtcInd>false</OrganizationDissolvedEtcInd>
      <Form1120PolFiledInd>false</Form1120PolFiledInd>
      <MadeLoansToFromOfficersInd>false</MadeLoansToFromOfficersInd>
      <InitiationFeesAndCapContriAmt>0</InitiationFeesAndCapContriAmt>
      <GrossReceiptsForPublicUseAmt>0</GrossReceiptsForPublicUseAmt>
      <ProhibitedTaxShelterTransInd>false</ProhibitedTaxShelterTransInd>
      <BooksInCareOfDetail>
        <PersonNm>Virtual Inc</PersonNm>
        <USAddress>
          <AddressLine1Txt>401 Edgewater Place Suite 600</AddressLine1Txt>
          <CityNm>Wakefield</CityNm>
          <StateAbbreviationCd>MA</StateAbbreviationCd>
          <ZIPCd>01880</ZIPCd>
        </USAddress>
        <PhoneNum>7812460500</PhoneNum>
      </BooksInCareOfDetail>
      <ForeignFinancialAccountInd>false</ForeignFinancialAccountInd>
      <ForeignOfficeInd>false</ForeignOfficeInd>
      <DonorAdvisedFndsInd>false</DonorAdvisedFndsInd>
      <OperateHospitalInd>false</OperateHospitalInd>
      <TanningServicesProvidedInd>false</TanningServicesProvidedInd>
      <Form720FiledInd>false</Form720FiledInd>
      <RelatedOrganizationCtrlEntInd>false</RelatedOrganizationCtrlEntInd>
      <TransactionWithControlEntInd>false</TransactionWithControlEntInd>
      <PoliticalCampaignActyInd>false</PoliticalCampaignActyInd>
      <PartVIOfCompOfHghstPdEmplTxt>NONE</PartVIOfCompOfHghstPdEmplTxt>
      <CompensationOfHghstPdCntrctGrp>
        <BusinessName>
          <BusinessNameLine1Txt>Virtual Inc</BusinessNameLine1Txt>
        </BusinessName>
        <USAddress>
          <AddressLine1Txt>401 Edgewater Place Ste 600</AddressLine1Txt>
          <CityNm>Wakefield</CityNm>
          <StateAbbreviationCd>MA</StateAbbreviationCd>
          <ZIPCd>01880</ZIPCd>
        </USAddress>
        <ServiceTypeTxt>Management</ServiceTypeTxt>
        <CompensationAmt>69960</CompensationAmt>
      </CompensationOfHghstPdCntrctGrp>
    </IRS990EZ>
    <IRS990ScheduleO documentId="IRS990ScheduleO" softwareId="16000303" softwareVersionNum="2016v3.0">
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Other Expenses.1002</FormAndLineReferenceDesc>
        <ExplanationTxt>Office Expenses $3106</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Other Expenses.1005</FormAndLineReferenceDesc>
        <ExplanationTxt>Travel $18405</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Other Expenses.1012</FormAndLineReferenceDesc>
        <ExplanationTxt>Insurance $2031</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Other Expenses.1</FormAndLineReferenceDesc>
        <ExplanationTxt>Marketing Communications $32087</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Other Expenses.2</FormAndLineReferenceDesc>
        <ExplanationTxt>Payroll Service Fees $2287</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Other Expenses.3</FormAndLineReferenceDesc>
        <ExplanationTxt>Webex &amp; Kavi $1764</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Other Expenses.4</FormAndLineReferenceDesc>
        <ExplanationTxt>Hosting $1498</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Other Expenses.5</FormAndLineReferenceDesc>
        <ExplanationTxt>Admin Support $1162</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Other Assets.1005</FormAndLineReferenceDesc>
        <ExplanationTxt>Accounts Receivable - Beginning $14980 Accounts Receivable - Ending $50960</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Other Assets.1011</FormAndLineReferenceDesc>
        <ExplanationTxt>Prepaid Expenses and Deferred Charges - Beginning $1495 Prepaid Expenses and Deferred Charges - Ending $1606</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Total Liabilities.1001</FormAndLineReferenceDesc>
        <ExplanationTxt>Accounts Payable and Accrued Expenses - Beginning $8161 Accounts Payable and Accrued Expenses - Ending $8024</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Total Liabilities.1003</FormAndLineReferenceDesc>
        <ExplanationTxt>Deferred Revenue - Beginning $102232 Deferred Revenue - Ending $128896</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Total Liabilities.1</FormAndLineReferenceDesc>
        <ExplanationTxt>Accrued Payroll - Beginning $1938 Accrued Payroll - Ending $1939</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Total Liabilities.2</FormAndLineReferenceDesc>
        <ExplanationTxt>Accrued Payroll Taxes - Beginning $807 Accrued Payroll Taxes - Ending $772</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Total Liabilities.3</FormAndLineReferenceDesc>
        <ExplanationTxt>Accrued Expenses - Beginning $11953 Accrued Expenses - Ending $0</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleO>
  </ReturnData>
</Return>