2025-11-17T13:19:27-06:00 2024-12-31 420714325 RSM US LLP 919 EAST MAIN STREET SUITE 1800 RICHMOND VA 23219 990 2024-01-01 526054211 EQUIPMENT LEASING AND FINANCE ASSOCIATION EQUI 2022383400 1625 EYE ST NW 850 WASHINGTON DC 20006 JEFFREY QUIGLEY CFO 2022383400 2025-11-14 1 1 MEREDITH BELL P01696827 8042822121 2025-11-14 2024 2025-03-06 01:10:19Z LEIGH LYTLE 1625 EYE ST NW 850 WASHINGTON DC 20006 13576298 0 X WWW.ELFAONLINE.ORG X 1961 MD TO PROMOTE INTEREST AND PROVIDE PROGRAMS REGARDING EQUIPMENT LEASING AND FINANCING. 27 26 27 775 64008 0 0 0 10819473 11251433 577108 574363 79017 100891 11475598 11926687 55090 158000 0 0 4853450 4839297 0 0 0 7033011 7701300 11941551 12698597 -465953 -771910 23220997 22457898 9903597 8971885 13317400 13486013 X THE ASSOCIATION EXISTS TO PROMOTE AND REPRESENT THE GENERAL INTERESTS OF THE EQUIPMENT LEASING AND FINANCING INDUSTRY, PROVIDE PROGRAMS OF BENEFIT TO THE INDUSTRY AND ITS MEMBERS, PROVIDE INFORMATION, EDUCATION AND COMMUNICATIONS TO THE MEMBERSHIP AND THE PUBLIC, LEAD IN THE RESOLUTION OF GENERAL INDUSTRY PROBLEMS, AND PROMOTE HIGH STANDARDS OF BUSINESS PRACTICES WITHIN THE INDUSTRY. 0 0 BUSINESS DEVELOPMENT - WORKING TO ACHIEVE SUSTAINED GROWTH AND PROFITABILITY FOR MEMBERS THROUGH NETWORKING, SHARING AND MUTUAL ASSISTANCE, MARKET KNOWLEDGE AND A POSITIVE INDUSTRY IMAGE. PROFESSIONAL DEVELOPMENT - RAISING THE COMPETENCY OF INDUSTRY PROFESSIONALS THROUGH A COMBINATION OF FACE-TO-FACE CONFERENCES AND VARIOUS TECHNOLOGY CHANNELS. ADVOCACY AND COMMUNICATIONS - PRESENTING A STRONG COLLECTIVE VOICE FOR THE INDUSTRY AND REPRESENTING THE INDUSTRY WITH LAWMAKERS, REGULATORS, AND STANDARD SETTERS. INDUSTRY KNOWLEDGE - DELIVERING KNOWLEDGE THROUGH INDUSTRY PERFORMANCE STATISTICS, SPECIFIC BENCHMARKING REPORTS AND SPECIFIC TARGET MARKET ANALYSIS. 0 0 1 1 0 0 0 0 0 1 1 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 60 0 1 27 1 1 1 0 0 0 1 1 0 0 0 X 27 26 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 0 0 X THE ORGANIZATION 2022383400 1625 EYE ST NW 850 WASHINGTON DC 20006 ROBERT L BOYER CHAIR 3.00 0.00 X X 0 0 0 JAMES CRESS CHAIR ELECT 3.00 0.00 X X 0 0 0 ROBERT C NEAGLE IMMEDIATE PAST CHAIR 3.00 0.00 X X 0 0 0 DEBORAH BAKER FIRST VICE CHAIR 3.00 0.00 X X 0 0 0 NATE GIBBONS SECOND VICE CHAIR 3.00 0.00 X X 0 0 0 EDWARD ROSEN SECRETARY, DIR. OF GOV. (THRU 12/31/24) 37.50 0.00 X X 123305 0 70947 JEFFRY ELLIOTT TREASURER 4.00 0.00 X X 0 0 0 JON BIORKMAN DIRECTOR 2.00 0.00 X 0 0 0 KATHLEEN CANUM DIRECTOR 2.00 0.00 X 0 0 0 DEBRA R DEVASSY BABU DIRECTOR 2.00 0.00 X 0 0 0 DAVID M DRURY DIRECTOR 2.00 0.00 X 0 0 0 KATIE EMMEL DIRECTOR 2.00 0.00 X 0 0 0 BRIAN W ESCHMANN DIRECTOR 2.00 0.00 X 0 0 0 ERIC GROSS DIRECTOR 2.00 0.00 X 0 0 0 RANDY HAUG DIRECTOR 2.00 0.00 X 0 0 0 MATT IACOBUCCI DIRECTOR 2.00 0.00 X 0 0 0 CHRISTOPHER JOHNSON DIRECTOR 2.00 0.00 X 0 0 0 BRAD PETERSON DIRECTOR 2.00 0.00 X 0 0 0 KIRK S PHILLIPS DIRECTOR 2.00 0.00 X 0 0 0 MICHAEL ROMANOWSKI DIRECTOR 2.00 0.00 X 0 0 0 JAYMA SANDQUIST DIRECTOR 2.00 0.00 X 0 0 0 NICK SMALL DIRECTOR 2.00 0.00 X 0 0 0 MICHELLE SPERANZA DIRECTOR 2.00 0.00 X 0 0 0 ROBERT M WAX DIRECTOR 2.00 0.00 X 0 0 0 STEVE WHITE DIRECTOR 2.00 0.00 X 0 0 0 BRUCE J WINTER DIRECTOR 2.00 0.00 X 0 0 0 LEIGH LYTLE PRESIDENT & CEO 35.50 2.00 X 615170 0 61726 JEFFREY QUIGLEY CFO 37.50 0.00 X 209929 0 59059 ANDREW FISHBURN VP, FED GOV RELATIONS 37.50 0.00 X 362129 0 32300 SCOTT RIEHL VP, STATE GOV RELATIONS (THRU 09/30/24) 37.50 0.00 X 350066 0 19355 AMY VOGT VP, COMM & MARKETING 37.50 0.00 X 210501 0 34708 JULIE BENSON VP, MEM MARKETING 37.50 0.00 X 172447 0 29277 WILLIAM CHOI VP, RES & IND STUDIES (THRU 12/31/24) 37.50 0.00 X 159156 0 26854 LISA RAMIREZ VP, BUSINESS & PROF DEV 37.50 0.00 X 176430 0 29192 ALEXA CARNIBELLA DIRECTOR, PROF DEV 37.50 0.00 X 144896 0 38499 RALPH PETTA FORMER PRESIDENT & CEO 35.50 2.00 X 518988 0 20235 3043017 0 422152 19 1 1 0 O'KEEFE COMMUNICATIONS LLC 2 BETHESDA METRO CENTER STE 310 BETHESDA MD 20814 A/V RENTAL 381190 MULTISTATE ASSOCIATES LLC 1000 WILSON BOULEVARD 1800 ARLINGTON VA 22209 CONSULTING 242512 RSM US LLP 1250 H ST NW SUITE 700 WASHINGTON DC 20005 ACCOUNTING 176467 PRICEWATERHOUSECOOPERS LLP 300 MADISON AVENUE NEW YORK NY 10016 CONSULTING 145054 4 MEMBER DUES 900099 6047096 6047096 CONVENTION/SEMINARS 900099 5080128 4487578 592550 PUBLICATIONS 541800 64004 64004 ADVERTISING 541800 60205 60205 11251433 478751 478751 93803 3803 90000 1745223 1649611 95612 95612 95612 MISCELLANEOUS INCOME 900099 7088 7088 7088 11926687 10598678 64008 1264001 X 158000 1903986 2298014 164340 213555 259402 32234 151497 181458 84709 1440032 155475 433170 233411 8788 592998 402531 3193380 75214 41218 CREDIT CARD FEES 209883 DUES & SUBSCRIPTIONS 125575 TOURNAMENTS 95843 TRAINING & STAFF DEVELO 83755 160129 12698597 2767444 3003036 2076149 261228 200923 216726 267935 251801 1910961 1474725 501450 436236 13777491 6956716 0 8056583 3629605 3275572 23220997 22457898 1065610 1116476 4286736 3937862 4551251 3917547 9903597 8971885 X 13317400 13486013 13317400 13486013 23220997 22457898 -771910 940523 0 X X 0 1 X 1 0 EQUIPMENT LEASING & FIN ASSN PAC (LEASEPAC) 1625 EYE STREET NW SUITE 850 WASHINGTON DC 20006 541611789 5910 0 0 1 6047096 1854456 3136448 4990904 976622 4014282 977823 551586 426237 933138 923139 9999 436236 ISHARES TR MBS ETF 1147559 F ISHARES TR CORE MSCI EAFE 1178033 F ISHARES TR MSCI USA QLT FCT 2551352 F ISHARES TR CORE TOTAL USD 3179639 F 8056583 DUE FROM ELFF 375984 DEPOSITS 45305 DEFERRED COMPENSATION PLAN 142269 RIGHT-OF-USE ASSET 2712014 3275572 DEFERRED COMPENSATION PLAN 142269 LEASE LIABILITY 3775278 3917547 X 12782501 940523 940523 11841978 84709 84709 11926687 12613888 0 12613888 84709 84709 12698597 PART X, LINE 2: THE ASSOCIATION IS EXEMPT FROM THE PAYMENT OF INCOME TAXES ON ITS EXEMPT ACTIVITIES UNDER IRC SECTION 501(C)(6). THE FOUNDATION IS EXEMPT FROM THE PAYMENT OF INCOME TAXES ON ITS EXEMPT ACTIVITIES UNDER IRC SECTION 501(C)(3) AND IS CLASSIFIED AS OTHER THAN A PRIVATE FOUNDATION BY THE INTERNAL REVENUE SERVICE. THE PAC IS ORGANIZED AND IS EXEMPT FROM TAX UNDER IRC SECTION 527. FOR THE YEARS ENDED DECEMBER 31, 2024 AND 2023, THERE WAS NO UNRELATED BUSINESS INCOME AND, ACCORDINGLY, NO FEDERAL OR STATE INCOME TAXES HAVE BEEN RECORDED. MANAGEMENT HAS EVALUATED THE ORGANIZATION'S TAX POSITIONS AND CONCLUDED THAT THE CONSOLIDATED FINANCIAL STATEMENTS DO NOT INCLUDE ANY UNCERTAIN TAX POSITIONS. 1 EQUIPMENT LEASING & FINANCE FOUNDATION INC 1625 EYE STREET NW SUITE 850 WASHINGTON DC 20006 541527848 501(C)(3) 158000 0 GENERAL SUPPORT 1 0 PART I, LINE 2: GRANT MADE TO CONTROLLED RELATED ORGANIZATION FOR EXEMPT PURPOSES. 1 X X X 1 0 0 LEIGH LYTLE PRESIDENT & CEO 537812 0 50000 0 27358 0 21542 0 40184 0 676896 0 0 0 RALPH PETTA FORMER PRESIDENT & CEO 66786 0 134906 0 317296 0 20235 0 0 0 539223 0 0 0 ANDREW FISHBURN VP, FED GOV RELATIONS 327586 0 34046 0 497 0 27600 0 4700 0 394429 0 0 0 SCOTT RIEHL VP, STATE GOV RELATIONS (THRU 09/30/ 205783 0 36962 0 107321 0 18355 0 1000 0 369421 0 0 0 JEFFREY QUIGLEY CFO 190104 0 19425 0 400 0 17715 0 41344 0 268988 0 0 0 AMY VOGT VP, COMM & MARKETING 173678 0 19751 0 17072 0 15896 0 18812 0 245209 0 0 0 LISA RAMIREZ VP, BUSINESS & PROF DEV 158947 0 17289 0 194 0 14461 0 14731 0 205622 0 0 0 JULIE BENSON VP, MEM MARKETING 152990 0 19187 0 270 0 13933 0 15344 0 201724 0 0 0 EDWARD ROSEN SECRETARY, DIR. OF GOV. (THRU 12/31/ 77594 0 8977 0 36734 0 10676 0 60271 0 194252 0 0 0 WILLIAM CHOI VP, RES & IND STUDIES (THRU 12/31/24 54028 0 13979 0 91149 0 12749 0 14105 0 186010 0 0 0 ALEXA CARNIBELLA DIRECTOR, PROF DEV 134565 0 10096 0 235 0 11880 0 26619 0 183395 0 0 0 PART I, LINE 4A RIEHL, SCOTT - $87,066 (SEVERANCE) FORM 990, PART VI, SECTION A, LINE 6 REGULAR MEMBERS ARE ENTITLED TO VOTING RIGHTS. ASSOCIATE MEMBERS MAY ONLY VOTE IN BOARD AND OFFICER ELECTIONS AND CANNOT HAVE REPRESENTATIVES SERVE AS OFFICERS OF THE ASSOCIATION. TRANSITIONAL MEMBERS DO NOT HAVE VOTING RIGHTS AND CANNOT BE ELECTED AS AN OFFICER OR DIRECTOR OF THE ASSOCIATION. FORM 990, PART VI, SECTION A, LINE 7A REGULAR MEMBERS ARE ENTITLED TO VOTING RIGHTS. ASSOCIATE MEMBERS MAY ONLY VOTE IN BOARD AND OFFICER ELECTIONS AND CANNOT HAVE REPRESENTATIVES SERVE AS OFFICERS OF THE ASSOCIATION. TRANSITIONAL MEMBERS DO NOT HAVE VOTING RIGHTS AND CANNOT BE ELECTED AS AN OFFICER OR DIRECTOR OF THE ASSOCIATION. FORM 990, PART VI, SECTION B, LINE 11B THE ASSOCIATION'S BOARD OF DIRECTORS HAS DESIGNATED THE AUDIT COMMITTEE TO REVIEW THE FORM 990 PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. THE FORM 990 IS ALSO REVIEWED BY THE CFO PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C OFFICERS, DIRECTORS, AND EMPLOYEES ARE REQUIRED TO COMPLETE AND SIGN A CONFLICT OF INTEREST QUESTIONNAIRE ANNUALLY. COMPLIANCE IS MONITORED BY APPROPRIATE STAFF AND OUTSIDE COUNSEL. IN THE EVENT THAT THE ASSOCIATION DISCOVERS THAT A MEMBER OF THE GOVERNING BODY HAD A CONFLICT OF INTEREST, THE ASSOCIATION'S POLICY ON CONFLICTS OF INTEREST WOULD REQUIRE THAT THE PERSON NOT SOLICIT THE TRANSACTION, NOT TAKE PART IN NEGOTIATING, RENEGOTIATING, AMENDING OR APPROVING THE TRANSACTION, NOT EXERCISE ANY RECOMMENDING OR DECISION-MAKING AUTHORITY ARISING FROM HIS OR HER POSITION WITH ELFA, AND NOT EXERCISE ANY PERSONAL INFLUENCE WITH THE BOARD OF DIRECTORS OR WITH ANY OTHER MANAGER OR EMPLOYEE OF ELFA OR ANY ENTITY CONTROLLED BY ELFA IN THE DISPOSITION OF THE MATTER. FORM 990, PART VI, SECTION B, LINE 15A AN INDEPENDENT CONSULTING FIRM IS RETAINED AS NEEDED TO PROVIDE COMPARABILITY DATA AND ADVISE ON MANAGEMENT SALARIES. THE DATA IS REVIEWED AND APPROVED BY THE PERSONNEL COMMITTEE. THE PRESIDENT'S LAST COMPENSATION REVIEW WAS HELD IN JUNE 2024. THE BOARD OF DIRECTORS AND PERSONNEL COMMITTEE REVIEW AND APPROVE THE PRESIDENT'S COMPENSATION. THE PRESIDENT REVIEWS AND DETERMINES THE COMPENSATION OF OTHER OFFICERS AND KEY EMPLOYEES. FORM 990, PART VI, SECTION C, LINE 19 BYLAWS, POLICIES AND FINANCIAL STATEMENTS ARE AVAILABLE ON THE ASSOCIATION'S WEBSITE. FORM 990, PART IX, LINE 11G CONSULTING FEES 1,440,032. FORM 990, PART XII, LINE 2C: THE AUDIT OVERSIGHT PROCESS HAS REMAINED UNCHANGED FROM THE PRIOR YEAR. EQUIPMENT LEASING & FINANCE FOUNDATION INC 1625 EYE STREET NW SUITE 850 WASHINGTON DC 20006 541527848 RESEARCH DC 501(C)(3) ELFA 1 EQUIPMENT LEASING AND FINANCE ASSOCIATION PAC (LEASEPAC) 1625 EYE STREET NW SUITE 850 WASHINGTON DC 20006 541611789 POLITICAL ACTION COMMITTEE DC 527 ELFA 1 0 1 0 0 0 0 0 0 0 0 1 0 1 1 1 1 0 0 0 EQUIPMENT LEASING AND FINANCE FOUNDATION B 158000 CASH EQUIPMENT LEASING AND FINANCE FOUNDATION O 425599 CASH EQUIPMENT LEASING AND FINANCE FOUNDATION N 22635 CASH