2017-05-10T16:28:16-05:00 2016-06-30 420714325 RSM US LLP 9737 WASHINGTONIAN BLVD 400 GAITHERSBURG MD 208787340 990 2015-07-01 581424769 ASSOCIATION FOR FINANCIAL PROFESSIONALS ASSO 3019072862 4520 EAST WEST HWY NO 750 BETHESDA MD 20814 JOSEPH A DESALVIO CHIEF FINANCIAL OFFICER 3019072862 2017-05-10 1 WILLIAM E TURCO CPA P00369217 3012963600 2015 2021-01-29 14:40:06Z JAMES A KAITZ 4520 EAST WEST HWY NO 750 BETHESDA MD 20814 43462446 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. 18 18 100 155 812215 21996 0 0 22103493 22383928 1696195 935399 33102 13083 23832790 23332410 13724 13478 0 0 10996120 10228240 0 0 0 17502445 13301915 28512289 23543633 -4679499 -211223 27843488 25262169 15468740 14796295 12374748 10465874 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 PRACTIONERS, 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, CASH MANAGEMENT, FRAUD PREVENTION, FINANCIAL RISK MANAGEMENT, BANK RELATIONSHIP MANAGEMENT, CASH FLOW FORECASTING, CORPORATE PAYMENTS, FINANCIAL PLANNING AND ANALYSIS AND SIMILAR TOPICS. COMMUNICATIONS:PUBLISHED MONTHLY NEWSLETTERS AND TEN 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 CIEBA GT NEWS 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 1 0 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 1 96 0 1 100 1 1 1 1 CA 0 0 0 0 X 18 18 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 750 BETHESDA MD 20814 ANTHONY SCAGLIONE BOARD CHAIRMAN 5.00 X X 0 0 0 JEFF JOHNSON VICE CHAIRMAN 5.00 X X 0 0 0 ROBERTA EISEMAN VICE CHAIRMAN 5.00 X X 0 0 0 SUSAN GLASS PAST CHAIRMAN 5.00 X 0 0 0 ANITA PATTERSON DIRECTOR 5.00 X 0 0 0 TERRY CRAWFORD DIRECTOR 5.00 X 0 0 0 ANN ANTHONY DIRECTOR 5.00 X 0 0 0 CHRIS FULTON 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 JUNE JOHNSON DIRECTOR 5.00 X 0 0 0 JOAN PISCITELLO DIRECTOR 5.00 X 0 0 0 ADRIENNE URBAN DIRECTOR 5.00 X 0 0 0 T JONATHAN HALL DIRECTOR 5.00 X 0 0 0 JORDAN KRUGMAN DIRECTOR 5.00 X 0 0 0 MATTHEW SKURBE DIRECTOR 5.00 X 0 0 0 KRISTIN WALLE DIRECTOR 5.00 X 0 0 0 ROBERT WHITAKER DIRECTOR 5.00 X 0 0 0 JAMES KAITZ CEO 50.00 X 925356 0 157812 JOSEPH DESALVIO CFO 50.00 X 309630 0 35346 JEFF GLENZER CHIEF OPERATING OFFICER 50.00 X 280827 0 33701 PATRICK CULKIN VP, STRATEGY 40.00 X 268364 0 33749 DAVID LEWIS MANAGING DIRECTOR, MEMBERSHIP 40.00 X 202102 0 22655 DONNA BERZELLINI MANAGING DIRECTOR, CERTIFICATION 40.00 X 195904 0 29156 MELISSA RAWAK MANAGING DIRECTOR, MARKETING 40.00 X 192674 0 23534 DEBORAH FORBES EXECUTIVE DIRECTOR, CIEBA 40.00 X 250048 0 17060 CRAIG MARTIN DIRECTOR, TREASURY PRACTICE 40.00 X 199338 0 24074 MARYELLEN SAUNDERS MANAGING DIRECTOR, EDUCATION 40.00 X 201133 0 20631 KEVIN BOYLE DIRECTOR, SALES 40.00 X 186331 0 27793 ELIZABETH ESQUERRE CONTROLLER 50.00 X 156153 0 28008 3367860 0 453519 30 0 1 0 CENTERPLATE 1901 CENVENTION CENTER DR ROOM 206 MIAMI BEACH FL 33139 CONFERENCE CATERING 877209 WILLIMS GERARD PRODUCTIONS INC 26826 NETWORK PLACE CHICAGO IL 60673 CONFERENCE PRODUCTION SERVICES 420710 WASHINGTON SPEAKERS BUREAU INC 1663 PRINCE STREET ALEXANDRIA VA 22314 CONFERENCE SPEAKERS 351926 NCS PEARSON INC 13036 COLLECTION CENTER DR CHICAGO IL 60693 CERTIFICATION TESTING 319036 COLORADO CONVENTION CENTER 700 14TH STREET DENVER CO 80202 CONFERENCE 293861 27 CONFERENCES 541900 11617286 6366987 204246 5046053 MEMBERSHIP DUES 900099 6459704 6459704 PROFESSIONAL DEVELOPME 541900 3737334 3570979 166355 COMMUNICATIONS 511120 503129 61515 441614 CIEBA 541900 66475 66475 22383928 485769 485769 12378 12378 20579666 19828393 301643 751273 -301643 449630 449630 OTHER REVENUE 900099 705 705 705 23332410 16525660 812215 5994535 X 13478 3261865 5919260 368758 179329 499028 108990 66223 53350 4361373 475681 1626670 156355 1026490 885923 2060340 540 510890 148741 HONORARIA 929250 DEBT WAIVER 703397 DUES & SUBSCRIPTIONS 48412 TAXES 39023 100267 23543633 1594141 2234118 1614391 1644963 1203134 1655283 5548537 4814254 868713 734283 17198593 7555913 1501722 8661072 155280 3707514 2776537 27843488 25262169 2361094 2560600 9496089 9008515 3611557 3227180 15468740 14796295 X 10463776 8285554 1910972 2180320 12374748 10465874 27843488 25262169 X -211223 -1697304 1 -348 X 0 1 X 1 0 0 0 0 6459704 2320 2320 2320 1859023 1710327 148696 2773047 2357921 415126 916467 746006 170461 734283 133583.387-DOUBLELINE TOTAL RETURN 1460066 F 113153.023-VANGUARD INTERIM TERM BD 1344258 F 157471.011-BLACKSTONE ALT MULTI 1573135 F 155457.204-GOLDMAN SACHS MULTI MGR 1582554 F 6697.423-VANGUARD 500 INDEX FD 1297023 F 13990-ISHARES RUSSELL 1000 1404036 F 8661072 DEFERRED COMPENSATION 2710532 DUE FROM AFP CANADA 26955 DUE FROM C-STREAM 39050 2776537 DEFERRED COMPENSATION 2710532 DEFERRED RENT 278980 CAPITAL LEASE PAYABLE 5216 DUE TO AFP CANADA 3016 DUE TO C-STREAM 229436 3227180 X 21634641 -1697304 52885 -1644419 23279060 53350 53350 23332410 22800478 13592 13592 22786886 53350 703397 756747 23543633 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, 2016 AND 2015, THE ASSOCIATION HAD NET UNRELATED BUSINESS INCOME OF APPROXIMATELY $38,000 AND $58,000, 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. AFPAN IS A SINGLE MEMBER LIMITED LIABILITY COMPANY AND HAS ELECTED TO BE TAXED AS A CORPORATION FOR FEDERAL INCOME TAX PURPOSES. 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 2013. PART XI, LINE 2D - OTHER ADJUSTMENTS: AFFILIATE REVENUE INCLUDED IN THE CONSOLIDATED FINANCIAL STATEMENT 53,233. UNREALIZED LOSS ON FOREIGN CURRENCY -348. PART XII, LINE 2D - OTHER ADJUSTMENTS: AFFILIATE EXPENSES INCLUDED IN THE CONSOLIDATED FINANCIAL STATEMENT 13,592. PART XII, LINE 4B - OTHER ADJUSTMENTS: DEBT WAIVER - AFPAN 703,397. EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENT IN C-STREAM, LTD. 214138 0 0 0 0 0 0 214138 0 214138 0 0 1 0 0 0 1 COLORADO FEEDING KIDS PO BOX 101535 DENVER CO 802501535 455318402 501(C)(3) 7719 AFP AWARE DONATION PART I, LINE 2: AFP SELECT THE LOCAL CHARITY BASED ON THE FOLLOWING: - THEY CAN ACCOMMODATE A LARGE GROUP ON A SUNDAY - APPROPRIATE ACTIVITIES FOR OUR ATTENDEES - LOCATION TO CONVENTION CENTER - BUDGET (WHAT WE HAVE TO SPEND UP FRONT ON THE ACTIVITY) X 1 1 X X X X X 1 1 0 JAMES KAITZ CEO 663689 0 229600 0 32067 0 143550 0 16090 0 1084996 0 0 0 JOSEPH DESALVIO CFO 246253 0 40000 0 23377 0 18550 0 18534 0 346714 0 0 0 JEFF GLENZER CHIEF OPERATING OFFICER 217637 0 44000 0 19190 0 18529 0 16685 0 316041 0 0 0 PATRICK CULKIN VP, STRATEGY 196888 0 44000 0 27476 0 17764 0 17414 0 303542 0 0 0 DAVID LEWIS MANAGING DIRECTOR, MEMBERSHIP 158899 0 24000 0 19203 0 11845 0 11991 0 225938 0 0 0 DONNA BERZELLINI MANAGING DIRECTOR, CERTIFICATION 147377 0 27000 0 21527 0 17656 0 12652 0 226212 0 0 0 MELISSA RAWAK MANAGING DIRECTOR, MARKETING 155526 0 30500 0 6648 0 13314 0 11376 0 217364 0 0 0 DEBORAH FORBES EXECUTIVE DIRECTOR, CIEBA 202276 0 18000 0 29772 0 16049 0 1728 0 267825 0 0 0 CRAIG MARTIN DIRECTOR, TREASURY PRACTICE 183629 0 13000 0 2709 0 13874 0 11368 0 224580 0 0 0 MARYELLEN SAUNDERS MANAGING DIRECTOR, EDUCATION 104031 0 29000 0 68102 0 12997 0 8194 0 222324 0 0 0 KEVIN BOYLE DIRECTOR, SALES 83678 0 101826 0 827 0 13162 0 15679 0 215172 0 0 0 ELIZABETH ESQUERRE CONTROLLER 132966 0 22500 0 687 0 11211 0 17736 0 185100 0 0 0 PART I, LINE 1A JAMES KAITZ, HEALTH CLUB DUES $542, 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 2015. DONNA BERZELLINI PARTICIPATES IN THE 457(F) PLAN AND THE CONTRIBUTION TO THE PLAN WAS $5,000 DURING THE CALENDAR YEAR ENDED 2015. 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 11 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 3,937,072. CONSULTANTS 394,152. TEMPORARY EMPLOYMENT 30,149. FORM 990, PART XI, LINE 9: UNREALIZED LOSS ON FOREIGN CURRENCY -348. C-STREAM LTD DBA GTNEWS 3RD FLOOR NORTHUMBERLAND HOUSE 155- LONDON UK W1W 6QP 981110200 WEB BASED GLOBAL TREASURY/FINANCE RESOURCE UK 0 214138 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 AFP ADVISORS NETWORK LLC 4520 EAST-WEST HIGHWAY SUITE 750 BETHESDA MD 20814 462601186 PROJECT BASED CONSULTING SERVICES DE ASSOCIATION FOR FINANCIAL PROFESSIONALS C 782886 1.00000 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 C-STREAM LTD DBA GTNEWS E 229436 BOOK VALUE