FINANCIAL ACCOUNTING FOUNDATION: Form 990, tax year 2012
View the entire original 990 at ProPublica ↗
- Organization
- FINANCIAL ACCOUNTING FOUNDATION (EIN 23-7211935)
- Tax period
- 2012-01-01 to 2012-12-31
- Filed
- 2013-05-15
- IRS object ID
- 201311359349305446
- Schema version
- 2012v2.1
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timestamp | 2013-05-15T13:18:12-05:00 | Timestamp |
| Tax Period End Date | 2012-12-31 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 420714325 | EIN |
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MCGLADREY LLP | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 8000 TOWERS CRESCENT DR STE 500 | AddressLine1 |
| City | VIENNA | City |
| State | VA | State |
| ZIP Code | 221826205 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2012-01-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 237211935 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | FINANCIAL ACCOUNTING FOUNDATION | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | FINA | NameControl |
| Phone | 2038470700 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 401 MERRITT 7 PO BOX 5116 | AddressLine1 |
| City | NORWALK | City |
| State | CT | State |
| ZIP Code | 06856 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | TERESA S POLLEY | Name |
| Title | PRESIDENT AND CEO | Title |
| Phone | 2038470700 | Phone |
| Date Signed | 2013-05-14 | DateSigned |
| Authorize Third Party | 1 | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | JAMES P SWEENEY CPA | Name |
| PTIN | P01263012 | PTIN |
| Phone | 7033366400 | Phone |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2012 | TaxYear |
| Build TS | 2016-03-07 17:11:31Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | TERESA S POLLEY | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 401 MERRITT 7 PO BOX 5116 | AddressLine1 |
| City | NORWALK | City |
| State | CT | State |
| ZIP Code | 06856 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 57145837 | GrossReceipts |
| Group Return For Affiliates | 0 | GroupReturnForAffiliates |
| Organization501c3 | X | Organization501c3 |
| Web Site | ACCOUNTINGFOUNDATION.ORG,FASB.ORG,GASB.ORG | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 1972 | YearFormation |
| State Legal Domicile | DE | StateLegalDomicile |
| Activity Or Mission Description | THE MISSION OF THE FINANCIAL ACCOUNTING FOUNDATION (FAF) IS TO ESTABLISH FINANCIAL ACCOUNTING AND REPORTING STANDARDS, THROUGH AN INDEPENDENT AND OPEN PROCESS, RESULTING IN FINANCIAL REPORTS THAT PROVIDE DECISION-USEFUL INFORMATION. THE FAF, ORGANIZED IN 1972, IS THE INDEPENDENT, PRIVATE-SECTOR ORGANIZATION WITH RESPONSIBILITY FOR THE OVERSIGHT, ADMINISTRATION, AND FINANCES OF THE FINANCIAL ACCOUNTING STANDARDS BOARD (FASB), THE GOVERNMENTAL ACCOUNTING STANDARDS BOARD (GASB), AND THEIR ADVISORY COUNCILS, THE FINANCIAL ACCOUNTING STANDARDS ADVISORY COUNCIL (FASAC) AND THE GOVERNMENTAL ACCOUNTING STANDARDS ADVISORY COUNCIL (GASAC), ALL OF WHICH WERE ESTABLISHED TO PERFORM DISTINCT FUNCTIONS IN THE PROCESS OF ESTABLISHING AND IMPROVING FINANCIAL ACCOUNTING AND REPORTING STANDARDS. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 16 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 14 | NbrIndependentVotingMembers |
| Total Nbr Employees | 171 | TotalNbrEmployees |
| Total Nbr Volunteers | 200 | TotalNbrVolunteers |
| Total Gross UBI | 0 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | 0 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Prior Year | 1175115 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 0 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 0 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 0 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 1135265 | InvestmentIncomePriorYear |
| Investment Income Current Year | 1125678 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 43984043 | OtherRevenuePriorYear |
| Other Revenue Current Year | 51420149 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 46294423 | TotalRevenuePriorYear |
| Total Revenue Current Year | 52545827 | TotalRevenueCurrentYear |
| Grants And Similar Amnts Prior Year | 500000 | GrantsAndSimilarAmntsPriorYear |
| Grants And Similar Amnts CY | 0 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members Prior Year | 0 | BenefitsPaidToMembersPriorYear |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 33625307 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 35539041 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp Prior Year | 0 | TotalProfFundrsngExpPriorYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 2927 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 9750434 | OtherExpensePriorYear |
| Other Expenses Current Year | 9569541 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 43875741 | TotalExpensesPriorYear |
| Total Expenses Current Year | 45108582 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | 2418682 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | 7437245 | RevenuesLessExpensesCY |
| Total Assets BOY | 82341462 | TotalAssetsBOY |
| Total Assets EOY | 91141745 | TotalAssetsEOY |
| Total Liabilities BOY | 14355612 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 15396364 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 67985850 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 75745381 | NetAssetsOrFundBalancesEOY |
| Info In Schedule O Part III | X | InfoInScheduleOPartIII |
| Mission Description | ESTABLISH AND IMPROVE FINANCIAL ACCOUNTING AND REPORTING STANDARDS, THROUGH AN INDEPENDENT AND OPEN PROCESS, RESULTING IN FINANCIAL REPORTS THAT PROVIDE DECISION-USEFUL INFORMATION. | MissionDescription |
| Significant New Program Services | 0 | SignificantNewProgramServices |
| Significant Change | 0 | SignificantChange |
| Expense | 30204202 | Expense |
| Revenue | 42171845 | Revenue |
| Description | FINANCIAL ACCOUNTING STANDARDS BOARD (FASB)FINANCIAL ACCOUNTING STANDARDS ADVISORY COUNCIL (FASAC)THE FASB IS THE PRIVATE-SECTOR BOARD WITHIN THE FINANCIAL ACCOUNTING FOUNDATION (FAF) RESPONSIBLE FOR SETTING ACCOUNTING STANDARDS FOR NONGOVERNMENTAL ENTITIES IN THE UNITED STATES; THOSE STANDARDS ARE OFTEN REFERRED TO AS U.S. GAAP. THE MISSION OF THE FASB IS TO ESTABLISH AND IMPROVE STANDARDS OF FINANCIAL ACCOUNTING AND REPORTING THAT FOSTER FINANCIAL REPORTING BY NONGOVERNMENTAL ENTITIES THAT PROVIDES DECISION-USEFUL INFORMATION TO INVESTORS AND OTHER USERS OF FINANCIAL REPORTS. THAT MISSION IS ACCOMPLISHED THROUGH A COMPREHENSIVE AND INDEPENDENT PROCESS THAT ENCOURAGES BROAD PARTICIPATION, OBJECTIVELY CONSIDERS ALL STAKEHOLDER VIEWS, AND IS SUBJECT TO OVERSIGHT BY THE FAF'S BOARD OF TRUSTEES. THE FASB BELIEVES THAT BY FAITHFULLY IMPLEMENTING U.S. GAAP, ENTITIES WILL PRODUCE FINANCIAL REPORTS THAT PROVIDE USEFUL INFORMATION TO INVESTORS, CREDITORS, AND OTHER PROVIDERS OF CAPITAL.FOUR MAJOR PROJECTS - FINANCIAL INSTRUMENTS, REVENUE RECOGNITION, LEASING, AND INSURANCE CONTRACTS - CONTINUED TO BE THE PRIMARY FOCUS OF THE FASB'S TECHNICAL WORK PROGRAM. ALL OF THOSE PROJECTS ARE BEING CONDUCTED COLLABORATIVELY WITH THE INTERNATIONAL ACCOUNTING STANDARDS BOARD (IASB).BY THE END OF 2012, THE FASB AND THE IASB HAD AGREED ON A SUBSTANTIALLY CONVERGED APPROACH TO THE CLASSIFICATION AND MEASUREMENT OF FINANCIAL INSTRUMENTS. IN FEBRUARY 2013, THE FASB ISSUED AN EXPOSURE DRAFT TO SOLICIT BROAD-BASED PUBLIC COMMENT ON THAT APPROACH. THE FASB ALSO CONDUCTED OUTREACH TO INVESTORS, LENDERS, AND OTHERS, FOR WHOM FINANCIAL INFORMATION IS CRITICAL, ABOUT AN APPROACH TO ACCOUNTING FOR THE IMPAIRMENT OF FINANCIAL ASSETS THAT HAD BEEN DEVELOPED JOINTLY WITH THE IASB. IN RESPONSE TO THAT FEEDBACK, THE FASB CONCLUDED THAT MODIFICATIONS TO THE APPROACH WERE NEEDED. IN LATE 2012, THE FASB ISSUED FOR PUBLIC COMMENT A PROPOSED MODIFIED CREDIT IMPAIRMENT MODEL. IN 2013, THE FASB AND THE IASB WILL CONSIDER THE FEEDBACK RECEIVED ON THEIR RESPECTIVE APPROACHES IN AN EFFORT TO BOTH IMPROVE AND CONVERGE EXISTING REQUIREMENTS IN THIS AREA.IN 2012, THE FASB AND THE IASB WORKED TOGETHER TO ADDRESS FEEDBACK ON A REVISED EXPOSURE DRAFT ON REVENUE RECOGNITION ISSUED IN NOVEMBER 2011, POSITIONING THE BOARDS TO ISSUE A FINAL AND CONVERGED STANDARD IN THIS IMPORTANT AREA IN 2013. THE FASB AND THE IASB ALSO MADE SIGNIFICANT PROGRESS IN THEIR COLLABORATIVE PROJECT ON LEASE ACCOUNTING, SUBSTANTIALLY COMPLETING THEIR CONSIDERATION OF FEEDBACK RECEIVED ON A 2010 PROPOSAL. AS A RESULT OF THOSE EFFORTS, THE FASB AND THE IASB EXPECT TO ISSUE A REVISED EXPOSURE DRAFT FOR PUBLIC COMMENT IN THE FIRST HALF OF 2013. THE TWO BOARDS ALSO SUBSTANTIALLY COMPLETED THEIR DISCUSSION OF ISSUES IN THE PROJECT ON INSURANCE CONTRACTS. THE FASB PLANS TO SEEK PUBLIC COMMENT ON PROPOSED CHANGES TO U.S. GAAP THROUGH AN EXPOSURE DRAFT ISSUED IN MID-2013. IN RESPONSE TO CONCERNS ABOUT SO-CALLED "DISCLOSURE OVERLOAD," THE FASB ISSUED IN 2012 AN INVITATION TO COMMENT TO SOLICIT FEEDBACK ON IDEAS FOR A FRAMEWORK FOR IMPROVING THE EFFECTIVENESS OF DISCLOSURES IN NOTES TO FINANCIAL STATEMENTS. SPECIFICALLY, THE BOARD SOUGHT INPUT ON WHETHER THE FRAMEWORK WOULD HELP BRING MORE CONSISTENCY AND RIGOR TO THE PROCESS OF DECIDING WHAT DISCLOSURES SHOULD BE REQUIRED, THEREBY ENSURING THAT REPORTING ENTITIES COMMUNICATE THE INFORMATION THAT IS MOST IMPORTANT TO USERS OF THEIR FINANCIAL STATEMENTS.IN ADDITION TO ITS WORK ON TECHNICAL AGENDA PROJECTS, THE FASB ALSO SEEKS TO ENHANCE THE EFFICIENCY AND EFFECTIVENESS OF THE STANDARDS SETTING PROCESS. THROUGHOUT 2012, THE FASB SOUGHT TO ENHANCE ITS OUTREACH TO INVESTORS, LENDERS, AND OTHERS FOR WHOM FINANCIAL INFORMATION IS CRITICAL. IN RESPONSE TO CONCERNS EXPRESSED ABOUT U.S. GAAP FOR PRIVATE COMPANIES, THE FAF ESTABLISHED THE PRIVATE COMPANY COUNCIL (PCC) IN MAY 2012 TO STRENGTHEN THE PROCESS FOR IDENTIFYING AND CONSIDERING THE NEEDS OF PRIVATE COMPANY USERS OF FINANCIAL STATEMENTS IN THE STANDARDS DEVELOPMENT PROCESS. SPECIFICALLY, THE PCC WILL DETERMINE, BASED ON CRITERIA MUTUALLY AGREED BY THE FASB AND THE PCC, WHEN EXCEPTIONS OR MODIFICATIONS TO EXISTING U.S. GAAP FOR PRIVATE COMPANIES ARE REQUIRED TO ADDRESS THE NEEDS OF USERS OF THEIR FINANCIAL STATEMENTS. THE PCC ALSO WILL SERVE AS THE PRIMARY ADVISORY BODY TO THE FASB ON THE APPROPRIATE TREATMENT FOR PRIVATE COMPANIES FOR STANDARDS UNDER ACTIVE CONSIDERATION BY THE BOARD. THE PCC HELD ITS INAUGURAL MEETING IN DECEMBER 2012. THE FASB ALSO COOPERATED WITH THE CHAIRMAN OF FASAC IN A REVIEW OF THE STRUCTURE AND ORGANIZATION OF THE FASB'S OTHER ADVISORY COMMITTEES. THE REVIEW RESULTED IN A NUMBER OF RECOMMENDATIONS TO STRENGTHEN THE GOVERNANCE AND OPERATIONS OF THOSE COMMITTEES, WHICH THE FASB PLANS TO IMPLEMENT IN EARLY 2013.THE FAF ESTABLISHED A FORMAL POST-IMPLEMENTATION REVIEW (PIR) FUNCTION TO FORMALIZE THE PROCESS OF REVIEWING THE EFFECTIVENESS OF SIGNIFICANT STANDARDS THAT HAVE BEEN IN PLACE FOR AT LEAST TWO YEARS. THE OBJECTIVE OF THE REVIEW IS TO LEARN WHETHER THE STANDARDS ARE ACCOMPLISHING THEIR INTENDED OBJECTIVES. IN JANUARY 2012, THE FAF ISSUED ITS FIRST REVIEW, WHICH EXAMINED FASB INTERPRETATION NO. 48, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. THE REPORT CONCLUDED THAT FIN 48 HAD GENERALLY MET ITS OBJECTIVE, BUT SUGGESTED SEVERAL PROCESS IMPROVEMENTS TO THE FASB. THE BOARD ADOPTED MANY OF THESE RECOMMENDATIONS BY THE END OF 2012. THE NEXT PIR REVIEW EXAMINED FASB STATEMENT NO. 131, DISCLOSURES ABOUT SEGMENTS OF AN ENTERPRISE AND RELATED INFORMATION. THE REPORT WAS COMPLETED IN JANUARY 2013 AND CONCLUDED THAT THE STANDARD GENERALLY ACHIEVES ITS PURPOSE OF IMPROVING THE WAY PUBLIC COMPANIES REPORT FINANCIAL INFORMATION ABOUT THEIR BUSINESS SEGMENTS GENERALLY, ALTHOUGH SOME STAKEHOLDERS SUGGEST IMPROVEMENTS, WHICH ARE BEING REVIEWED BY THE FASB.2012 WAS A MILESTONE YEAR FOR XBRL, OR EXTENSIBLE BUSINESS REPORTING LANGUAGE. ALL PUBLIC COMPANIES AND US-GAAP FOREIGN PRIVATE ISSUERS SUBJECT TO THE SEC INTERACTIVE DATA RULES FOR OPERATING COMPANIES ARE NOW FILING DETAILED TAGGED FINANCIAL STATEMENTS USING THE U.S. GAAP FINANCIAL REPORTING TAXONOMY. THE FASB IS RESPONSIBLE FOR THE ONGOING DEVELOPMENT AND MAINTENANCE OF THIS TAXONOMY AND COMPLETED THE 5TH ANNUAL RELEASE IN 2012 SINCE SEC PROGRAM INCEPTION. HAVING CONSISTENT TAGGING OF INFORMATION THAT IS BASED ON U.S. GAAP WILL ENHANCE THE QUALITY AND CONSISTENCY OF INFORMATION THAT PUBLIC COMPANIES PROVIDE IN THIS FLEXIBLE FORMAT. THE FASAC COMPRISES 35 MEMBERS WHO REPRESENT A BROAD CROSS-SECTION OF THE FASB'S STAKEHOLDERS. THE MEMBERS OF THE FASAC, WITH THE EXCEPTION OF THE FASAC CHAIRMAN, ARE VOLUNTEERS WHO ARE APPOINTED FOR A ONE-YEAR TERM AND ARE ELIGIBLE TO BE REAPPOINTED FOR THREE ADDITIONAL ONE-YEAR TERMS. THE PRIMARY FUNCTION OF FASAC IS TO ADVISE THE FASB ON ISSUES RELATED TO PROJECTS ON THE FASB'S AGENDA, POSSIBLE NEW AGENDA ITEMS, PROJECT PRIORITIES, PROCEDURAL MATTERS THAT MAY REQUIRE THE ATTENTION OF THE FASB, AND OTHER MATTERS AS REQUESTED BY THE CHAIRMAN OF THE FASB. FASAC MEETINGS PROVIDE THE FASB WITH AN OPPORTUNITY TO OBTAIN AND DISCUSS THE VIEWS OF A VERY DIVERSE GROUP OF INDIVIDUALS FROM VARIED BUSINESS AND PROFESSIONAL BACKGROUNDS. | Description |
Activity2 Activity2
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | 6075154 | Expense |
| Revenue | 9241153 | Revenue |
| Description | GOVERNMENTAL ACCOUNTING STANDARDS BOARD (GASB)GOVERNMENTAL ACCOUNTING STANDARDS ADVISORY COUNCIL (GASAC)THE GASB IS THE PRIVATE-SECTOR BOARD WITHIN THE FAF RESPONSIBLE FOR SETTING ACCOUNTING AND FINANCIAL REPORTING STANDARDS FOR STATE AND LOCAL GOVERNMENTS. THE GASB ESTABLISHES ACCOUNTING AND REPORTING STANDARDS THAT RESULT IN THE COMMUNICATION OF DECISION-USEFUL INFORMATION AND THAT FACILITATE PUBLIC ACCOUNTABILITY OF GOVERNMENT FINANCIAL OPERATIONS FOR CITIZENS AND OTHER CONSTITUENCIES, SUCH AS LEGISLATIVE AND OVERSIGHT BODIES, AND INVESTORS AND CREDITORS. WHETHER SETTING NEW STANDARDS, IMPROVING EXISTING ONES, OR HELPING CONSTITUENTS TO IMPLEMENT AND UNDERSTAND THOSE STANDARDS, GASB'S AIM IS TO PROMOTE GREATER TRANSPARENCY, TO SUPPORT WELL-INFORMED DECISION MAKING, AND TO HELP USERS ASSESS A GOVERNMENT'S FINANCIAL ACCOUNTABILITY. WE MADE SIGNIFICANT PROGRESS TOWARD THOSE ENDS IN 2012.THE GASB ISSUED FOUR FINAL STATEMENTS DURING 2012, INCLUDING TWO NEW PENSION STATEMENTS. STATEMENTS NO. 67, FINANCIAL REPORTING FOR PENSION PLANS, AND NO. 68, ACCOUNTING AND FINANCIAL REPORTING FOR PENSIONS, FINALIZED IN JUNE 2012, SUBSTANTIALLY IMPROVE HOW BOTH PENSION PLANS AND STATE AND LOCAL GOVERNMENTS ACCOUNT FOR AND REPORT PENSION INFORMATION. THESE NEW STANDARDS SIGNIFICANTLY ENHANCE THE USEFULNESS OF REPORTED PENSION INFORMATION. THEY REQUIRE GOVERNMENT EMPLOYERS TO CLEARLY DISPLAY THEIR NET PENSION LIABILITY (OR ASSET) ON THE FACE OF THE FINANCIAL STATEMENTS AND TO EXPAND NOTE DISCLOSURES. THE NEW STANDARDS ALSO BETTER LINK PENSION COSTS TO THE PERIODS DURING WHICH EMPLOYEES PROVIDE SERVICES. TAKEN TOGETHER, THESE CHANGES WILL INCREASE TRANSPARENCY, CONSISTENCY, AND COMPARABILITY OF REPORTED PENSION INFORMATION. ONCE THE STANDARDS ARE FULLY IMPLEMENTED, FINANCIAL STATEMENT USERS WILL HAVE ACCESS TO EASIER TO UNDERSTAND PENSION INFORMATION ON WHICH TO BASE DECISIONS. THE GASB HAS BEEN ENGAGED IN EDUCATIONAL AND OUTREACH EFFORTS REGARDING THE NEW STANDARDS AND IS SCHEDULED TO PUBLISH AN IMPLEMENTATION GUIDE ADDRESSING PENSION PLAN FINANCIAL REPORTING ISSUES IN THE SUMMER OF 2013. A SECOND IMPLEMENTATION GUIDE ON EMPLOYER-SPECIFIC ISSUES IS SCHEDULED FOR RELEASE IN EARLY 2014.STATEMENT NO. 65, ITEMS PREVIOUSLY REPORTED AS ASSETS AND LIABILITIES, REQUIRES THAT CERTAIN ITEMS PREVIOUSLY REPORTED AS ASSETS AND LIABILITIES BE REPORTED AS DEFERRED OUTFLOWS OF RESOURCES, DEFERRED INFLOWS OF RESOURCES, OR CURRENT-PERIOD OUTFLOWS OR INFLOWS. THIS GUIDANCE IMPROVES CONSISTENCY AND COMPARABILITY OF REPORTED INFORMATION. FINALLY, STATEMENT NO. 66, TECHNICAL CORRECTIONS2012, ELIMINATES CERTAIN POTENTIALLY CONFLICTING GUIDANCE THAT AROSE AS THE RESULT OF RECENTLY ISSUED STATEMENTS.IN 2012, THE GASB ISSUED TWO EXPOSURE DRAFTS (WHICH LED TO THE RELEASE OF FINAL STATEMENTS IN THE FIRST THIRD OF 2013): STATEMENT NO. 69 GOVERNMENT COMBINATIONS AND DISPOSALS OF GOVERNMENT OPERATIONS; AND STATEMENT NO. 70 ACCOUNTING AND FINANCIAL REPORTING FOR NONEXCHANGE FINANCIAL GUARANTEES.THE GASB STAFF HAS NOW COMPLETED ITS WORK UPDATING AND EXPANDING THE GASB'S USER GUIDES, WHICH ARE WRITTEN FOR A NONTECHNICAL AUDIENCE USING PLAIN LANGUAGE. THE GUIDES INCLUDE UPDATED VOLUMES ON LOCAL GOVERNMENT FINANCES, SCHOOL DISTRICTS, AND INFORMATION FOR FINANCIAL ANALYSTS, AS WELL AS A NEW GUIDE ON BUSINESS-TYPE ACTIVITIES.WHILE THE MAJORITY OF TIME IS DEVOTED TO DEVELOPING ACCOUNTING AND FINANCIAL REPORTING STANDARDS, THE GASB STAFF SPENDS A SIGNIFICANT AMOUNT OF TIME HELPING CONSTITUENTS UNDERSTAND AND IMPLEMENT STANDARDS BY PROVIDING THEM WITH DIRECT ASSISTANCE ADDRESSING THEIR SPECIFIC FACTS AND CIRCUMSTANCES. DURING THE PAST YEAR, THE GASB RESPONDED TO OVER 1200 TECHNICAL INQUIRIES THAT REQUIRED A SPECIFIC RESPONSE ABOUT THE APPLICATION AND IMPLEMENTATION OF OUR STANDARDS. IN ADDITION, THE GASB BOARD AND STAFF MADE OVER 100 PRESENTATIONS AT CONFERENCES AND CONSTITUENT EVENTS ACROSS THE COUNTRY AND PUBLISHED EDUCATIONAL MATERIALS DESIGNED TO ENHANCE THE UNDERSTANDABILITY OF GASB STANDARDS, INCLUDING PLAIN LANGUAGE ARTICLES, PODCASTS, A MONTHLY NEWSLETTER, AND A USER-ORIENTED ELECTRONIC NEWSLETTER. ALSO, THE ANNUAL UPDATED COMPREHENSIVE IMPLEMENTATION GUIDE WAS PUBLISHED, WHICH ANSWERS OVER 1,900 QUESTIONS ON GOVERNMENTAL ACCOUNTING TOPICS.IN 2012, THE FAF'S PIR TEAM REVIEWED GASB STATEMENTS NO. 3, DEPOSITS WITH FINANCIAL INSTITUTIONS, INVESTMENTS (INCLUDING REPURCHASE AGREEMENTS), AND REVERSE REPURCHASE AGREEMENTS, AND NO. 40, DEPOSIT AND INVESTMENT RISK DISCLOSURES. THE REPORT WAS COMPLETED IN FEBRUARY 2013 AND CONCLUDED THAT THESE STANDARDS, WHICH WERE ESTABLISHED TO IMPROVE THE WAY STATE AND LOCAL GOVERNMENTS REPORT DEPOSIT AND INVESTMENT RISKS, AND REPURCHASE AND REVERSE REPURCHASE AGREEMENTS, HAVE ACHIEVED THEIR PURPOSE AND PROVIDE DECISION-USEFUL INFORMATION TO CREDITORS AND OTHER FINANCIAL STATEMENT USERS.THE THIRTY-MEMBER GASAC IS AN ORGANIZATION OF KNOWLEDGEABLE AND EXPERIENCED PROFESSIONALS REPRESENTING THE GASB'S VARIED CONSTITUENTS WHO VOLUNTEER THEIR SERVICES TO WORK WITH THE GASB IN AN ADVISORY CAPACITY TO ENHANCE THE STANDARD SETTING PROCESS BY CONSULTING WITH THE GASB ON TECHNICAL ISSUES, PROJECT PRIORITIES, AND OTHER MATTERS LIKELY TO CONCERN THE GASB. GASAC MEMBERS ALSO PROVIDE AN IMPORTANT COMMUNICATION LINK BETWEEN THE GASB AND CONSTITUENT GROUPS, AND THEY STRIVE TO ENSURE THAT CONSTITUENT VIEWS ARE CONSISTENTLY AND EFFECTIVELY COMMUNICATED TO THE GASB ON A TIMELY BASIS. | Description |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Expense | 36279356 | TotalProgramServiceExpense |
| Described In501 C3 | 1 | DescribedIn501C3 |
| Schedule B Required | 0 | ScheduleBRequired |
| Political Activities | 0 | PoliticalActivities |
| Lobbying Activities | 1 | LobbyingActivities |
| Subject To Proxy Tax | 0 | SubjectToProxyTax |
| Donor Advised Funds | 0 | DonorAdvisedFunds |
| Conservation Easements | 0 | ConservationEasements |
| Collections Of Art | 0 | CollectionsOfArt |
| Credit Counseling | 0 | CreditCounseling |
| Term Or Permanent Endowments | 0 | TermOrPermanentEndowments |
| Report Land Bldg Equip | 1 | ReportLandBldgEquip |
| Report Invest Oth Securities | 0 | ReportInvestOthSecurities |
| Report Prog Rel Invest | 0 | ReportProgRelInvest |
| Report Other Assets | 0 | ReportOtherAssets |
| Report Other Liabilities | 1 | ReportOtherLiabilities |
| Report Fin48 Footnote | 1 | ReportFin48Footnote |
| Independent Audit Financial Stmt | 1 | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | 0 | ConsolidatedAuditFinancialStmt |
| School | 0 | School |
| Foreign Office | 0 | ForeignOffice |
| Foreign Activities | 1 | ForeignActivities |
| More Than5000 K To Organizations | 0 | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividuals |
| Professional Fundraising | 0 | ProfessionalFundraising |
| Fundraising Activities | 0 | FundraisingActivities |
| Gaming | 0 | Gaming |
| Hospital | 0 | Hospital |
| Grants To Organizations | 0 | GrantsToOrganizations |
| Grants To Individuals | 0 | GrantsToIndividuals |
| Schedule J Required | 1 | ScheduleJRequired |
| Tax Exempt Bonds | 0 | TaxExemptBonds |
| Excess Benefit Transaction | 0 | ExcessBenefitTransaction |
| Prior Excess Benefit Transaction | 0 | PriorExcessBenefitTransaction |
| Loan To Officer Or DQP | 0 | LoanToOfficerOrDQP |
| Grant To Related Person | 0 | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | 0 | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | 0 | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | 1 | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | 0 | DeductibleNonCashContributions |
| Deductible Contributions Of Art | 0 | DeductibleContributionsOfArt |
| Terminated | 0 | Terminated |
| Partial Liquidation | 0 | PartialLiquidation |
| Disregarded Entity | 0 | DisregardedEntity |
| Related Entity | 0 | RelatedEntity |
| Related Org Controlled Entity | 0 | RelatedOrgControlledEntity |
| Transfers To Exempt Non Chrtbl Org | 0 | TransfersToExemptNonChrtblOrg |
| Activities Conducted Partnership | 0 | ActivitiesConductedPartnership |
| Schedule O Required | 1 | ScheduleORequired |
| Number Forms Transmitted With1096 | 112 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Compliance With Backup Witholding | 1 | ComplianceWithBackupWitholding |
| Number Of Employees | 171 | NumberOfEmployees |
| Employment Tax Returns Filed | 1 | EmploymentTaxReturnsFiled |
| Unrelated Business Income | 0 | UnrelatedBusinessIncome |
| Foreign Financial Account | 0 | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTrans |
| Taxable Party Notification | 0 | TaxablePartyNotification |
| Non Deductible Contributions | 0 | NonDeductibleContributions |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributions |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOf |
| Funds To Pay Premiums | 0 | FundsToPayPremiums |
| Premiums Paid | 0 | PremiumsPaid |
| Indoor Tanning Services | 0 | IndoorTanningServices |
| Info In Schedule O Part VI | X | InfoInScheduleOPartVI |
| Nbr Voting Governing Body Members | 16 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 14 | NumberIndependentVotingMembers |
| Family Or Business Relationship | 0 | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | 0 | DelegationOfManagementDuties |
| Changes To Organizing Docs | 0 | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuse |
| Members Or Stockholders | 0 | MembersOrStockholders |
| Election Of Board Members | 0 | ElectionOfBoardMembers |
| Decisions Subject To Approval | 0 | DecisionsSubjectToApproval |
| Minutes Of Governing Body | 1 | MinutesOfGoverningBody |
| Minutes Of Committees | 1 | MinutesOfCommittees |
| Officer Mailing Address | 0 | OfficerMailingAddress |
| Local Chapters | 0 | LocalChapters |
| Form990 Provided To Governing Body | 1 | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | 1 | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | 1 | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | 1 | RegularMonitoringEnforcement |
| Whistleblower Policy | 1 | WhistleblowerPolicy |
| Document Retention Policy | 1 | DocumentRetentionPolicy |
| Compensation Process CEO | 1 | CompensationProcessCEO |
| Compensation Process Other | 1 | CompensationProcessOther |
| Investment In Joint Venture | 0 | InvestmentInJointVenture |
| States Where Copy Of Return Is Filed | CT | StatesWhereCopyOfReturnIsFiled |
| States Where Copy Of Return Is Filed | DE | StatesWhereCopyOfReturnIsFiled |
| States Where Copy Of Return Is Filed | DC | StatesWhereCopyOfReturnIsFiled |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
Name Business NameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | PETER SPENCER | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Telephone Number | 2038470700 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 401 MERRITT 7 PO BOX 5116 | AddressLine1 |
| City | NORWALK | City |
| State | CT | State |
| ZIP Code | 06856 | ZIPCode |
Form990 Part VII Section A Form990PartVIISectionA (28 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | OfficerOfficer | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation | Key EmployeeKeyEmployee | Highest Compensated EmployeeHighestCompensatedEmployee |
|---|---|---|---|---|---|---|---|---|
| JOHN J BRENNAN | ||||||||
| TRUSTEE, CHAIRMAN THROUGH 10/16/12 | 10.00 | X | X | 201458 | 0 | 0 | ||
| JEFFREY J DIERMEIER | ||||||||
| TRUSTEE, CHAIRMAN | 5.00 | X | X | 82709 | 0 | 0 | ||
| CYNTHIA P EISENHAUER | ||||||||
| TRUSTEE | 3.00 | X | 55000 | 0 | 0 | |||
| EDWARD M HARRINGTON | ||||||||
| TRUSTEE | 4.00 | X | 65000 | 0 | 0 | |||
| DENNIS M KASS | ||||||||
| TRUSTEE | 4.00 | X | 65000 | 0 | 0 | |||
| JOHN J PERRELL | ||||||||
| TRUSTEE | 4.00 | X | 65000 | 0 | 0 | |||
| LUIS M VICEIRA | ||||||||
| TRUSTEE | 3.00 | X | 55000 | 0 | 0 | |||
| EDWARD E NUSBAUM | ||||||||
| TRUSTEE | 3.00 | X | 0 | 0 | 0 | |||
| FRANK H BROD | ||||||||
| TRUSTEE, TREASURER | 3.00 | X | X | 55000 | 0 | 0 | ||
| DOUGLAS A DONAHUE JR | ||||||||
| TRUSTEE | 3.00 | X | 0 | 0 | 0 | |||
| CAROL A JOHN DAVIDSON | ||||||||
| TRUSTEE | 4.00 | X | 67083 | 0 | 0 | |||
| MARY S STONE | ||||||||
| TRUSTEE | 3.00 | X | 51508 | 0 | 0 | |||
| WMMACK LAWHON | ||||||||
| TRUSTEE | 4.00 | X | 61087 | 0 | 0 | |||
| STEPHEN R HOWE JR | ||||||||
| TRUSTEE | 3.00 | X | 0 | 0 | 0 | |||
| ANN MARIE PETACH | ||||||||
| TRUSTEE | 3.00 | X | 11458 | 0 | 0 | |||
| MICHELLE R SEITZ | ||||||||
| TRUSTEE | 3.00 | X | 55000 | 0 | 0 | |||
| W DANIEL EBERSOLE | ||||||||
| TRUSTEE | 3.00 | X | 55000 | 0 | 0 | |||
| PAUL G CAMELL | ||||||||
| TRUSTEE | 3.00 | X | 55000 | 0 | 0 | |||
| TERESA S POLLEY | ||||||||
| PRESIDENT | 40.00 | X | 610041 | 0 | 46467 | |||
| RONALD P GUERRETTE | ||||||||
| VICE PRESIDENT | 40.00 | X | 354730 | 0 | 69637 | |||
| JODI P DOTTORI | ||||||||
| VICE PRESIDENT AND GENERAL | 40.00 | X | 293156 | 0 | 92623 | |||
| ROBERT H ATTMORE | ||||||||
| CHAIRMAN, GASB | 40.00 | 455002 | 0 | 77161 | X | |||
| LESLIE F SEIDMAN | ||||||||
| CHAIRMAN, FASB | 40.00 | 1023996 | 0 | 79302 | X | |||
| LAWRENCE W SMITH | ||||||||
| BOARD MEMBER | 40.00 | 848436 | 0 | 96179 | X | |||
| THOMAS J LINSMEIER | ||||||||
| BOARD MEMBER | 40.00 | 789225 | 0 | 80756 | X | |||
| RUSSELL G GOLDEN | ||||||||
| BOARD MEMBER | 40.00 | 746945 | 0 | 74941 | X | |||
| DARYL E BUCK | ||||||||
| BOARD MEMBER | 40.00 | 714400 | 0 | 62748 | X | |||
| R HAROLD SCHROEDER | ||||||||
| BOARD MEMBER | 40.00 | 724353 | 0 | 108387 | X | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 7560587 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 0 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 788201 | TotalOtherCompensation |
| Number Individuals GT100 K | 80 | NumberIndividualsGT100K |
| Formers Listed | 0 | FormersListed |
| Total Comp GT150 K | 1 | TotalCompGT150K |
| Compensation From Other Sources | 0 | CompensationFromOtherSources |
Contractor Compensation ContractorCompensation (5 entries)
| Address Line1AddressOfContractor/AddressUS/AddressLine1 | CityAddressOfContractor/AddressUS/City | StateAddressOfContractor/AddressUS/State | ZIP CodeAddressOfContractor/AddressUS/ZIPCode | Description Of ServicesDescriptionOfServices | CompensationCompensation |
|---|---|---|---|---|---|
| ERNST & YOUNG | |||||
| 200 PLAZA DRIVE | SECAUCUS | NJ | 07094 | PAYMENTS FOR FELLOWS | 1014892 |
| DELOITTE & TOUCHE LLP | |||||
| 10 WESTPORT ROAD | WILTON | CT | 06897 | PAYMENTS FOR FELLOWS | 608706 |
| KPMG LLP | |||||
| THREE CHESTNUT RIDGE ROAD | MONTVALE | NJ | 07645 | PAYMENTS FOR FELLOWS | 580570 |
| K & L GATES | |||||
| 1601 K STREET NW | WASHINGTON | DC | 20006 | CONSULTANT EXTERNAL RELATIONS | 508469 |
| ADVANCED COMPUTER TECHNOLOGIES | |||||
| 108 MAIN STREET | NORWALK | CT | 06851 | IT OUTSOURCING | 506252 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 27 | NumberOfContractorsGT100K |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 1020114 | TotalRevenueColumn |
| Exclusion | $1,020,114 | ExclusionAmount |
Royalties Revenue RoyaltiesRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 7151 | TotalRevenueColumn |
| Exclusion | $7,151 | ExclusionAmount |
Gross Amount Sales Assets GrossAmountSalesAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 105564 | Securities |
Less Cost Oth Basis Sales Expenses LessCostOthBasisSalesExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 0 | Securities |
Gain Or Loss GainOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 105564 | Securities |
Net Gain Or Loss Investments NetGainOrLossInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 105564 | TotalRevenueColumn |
| Exclusion | $105,564 | ExclusionAmount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Sales Of Inventory | 4268640 | GrossSalesOfInventory |
| Cost Of Goods Sold | 4600010 | CostOfGoodsSold |
Net Income Or Loss NetIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -331370 | TotalRevenueColumn |
| Related Or Exempt Function Income | -331370 | RelatedOrExemptFunctionIncome |
Other Revenue Misc OtherRevenueMisc (3 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome |
|---|---|---|---|
| ACCOUNTING SUPPORT FEES | 900099 | 38219788 | 38219788 |
| LICENSE FEE REVENUES | 900099 | 13491076 | 13491076 |
| OTHER REVENUE | 900099 | 33504 | 33504 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Revenue | 51744368 | TotalOtherRevenue |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 52545827 | TotalRevenueColumn |
| Related Or Exempt Function Income | 51412998 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 0 | UnrelatedBusinessRevenue |
| Exclusion | $1,132,829 | ExclusionAmount |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 4102417 | Total |
| Program Services | 1635460 | ProgramServices |
| Management And General | 2466957 | ManagementAndGeneral |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 23959226 | Total |
| Program Services | 22138589 | ProgramServices |
| Management And General | 1820637 | ManagementAndGeneral |
Pension Plan Contributions PensionPlanContributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 3195353 | Total |
| Program Services | 2740868 | ProgramServices |
| Management And General | 454485 | ManagementAndGeneral |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 3183203 | Total |
| Program Services | 2411858 | ProgramServices |
| Management And General | 771345 | ManagementAndGeneral |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1098842 | Total |
| Program Services | 961917 | ProgramServices |
| Management And General | 136925 | ManagementAndGeneral |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 223944 | Total |
| Management And General | 223944 | ManagementAndGeneral |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 198802 | Total |
| Management And General | 198802 | ManagementAndGeneral |
Fees For Services Lobbying FeesForServicesLobbying
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 458533 | Total |
| Program Services | 458533 | ProgramServices |
Fees For Services Invst Mgmnt Fees FeesForServicesInvstMgmntFees
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1120 | Total |
| Management And General | 1120 | ManagementAndGeneral |
Fees For Services Other FeesForServicesOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1472446 | Total |
| Program Services | 1005873 | ProgramServices |
| Management And General | 466573 | ManagementAndGeneral |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 390693 | Total |
| Program Services | 49952 | ProgramServices |
| Management And General | 340741 | ManagementAndGeneral |
Information Technology InformationTechnology
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 842961 | Total |
| Program Services | 409905 | ProgramServices |
| Management And General | 433056 | ManagementAndGeneral |
Occupancy Occupancy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1686254 | Total |
| Program Services | 1093256 | ProgramServices |
| Management And General | 592998 | ManagementAndGeneral |
Travel Travel
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 839184 | Total |
| Program Services | 783532 | ProgramServices |
| Management And General | 55652 | ManagementAndGeneral |
Conferences Meetings ConferencesMeetings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 741778 | Total |
| Program Services | 479253 | ProgramServices |
| Management And General | 262525 | ManagementAndGeneral |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1099294 | Total |
| Program Services | 931736 | ProgramServices |
| Management And General | 167558 | ManagementAndGeneral |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 207856 | Total |
| Management And General | 207856 | ManagementAndGeneral |
Other Expenses OtherExpenses (4 entries)
| DescriptionDescription | TotalTotal | Program ServicesProgramServices | Management And GeneralManagementAndGeneral |
|---|---|---|---|
| PLACEMENT & RECRUITING | 511497 | 499621 | 11876 |
| SUBSCRIPTION & LIBRARY | 272857 | 263751 | 9106 |
| BILLING AND COLLECTION | 259400 | 259400 | |
| ANNUAL REPORT | 65473 | 47141 | 18332 |
All Other Expenses AllOtherExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 297449 | Total |
| Program Services | 108711 | ProgramServices |
| Management And General | 185811 | ManagementAndGeneral |
| Fundraising | 2927 | Fundraising |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 45108582 | Total |
| Program Services | 36279356 | ProgramServices |
| Management And General | 8826299 | ManagementAndGeneral |
| Fundraising | 2927 | Fundraising |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 4205031 | BOY |
| EOY | 3733321 | EOY |
Savings And Temp Cash Investments SavingsAndTempCashInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 8565042 | BOY |
| EOY | 8682643 | EOY |
Pledges And Grants Receivable PledgesAndGrantsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 25000 | BOY |
| EOY | 0 | EOY |
Accounts Receivable AccountsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 2780709 | BOY |
| EOY | 6298449 | EOY |
Inventories For Sale Or Use InventoriesForSaleOrUse
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 104340 | BOY |
| EOY | 101409 | EOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 291207 | BOY |
| EOY | 264026 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 15817735 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 14792205 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1708111 | BOY |
| EOY | 1025530 | EOY |
Investments Pub Traded Securities InvestmentsPubTradedSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 63177722 | BOY |
| EOY | 68715325 | EOY |
Investments Other Securities InvestmentsOtherSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 819359 | BOY |
| EOY | 2321042 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 664941 | BOY |
| EOY | 0 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 82341462 | BOY |
| EOY | 91141745 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1501586 | BOY |
| EOY | 845897 | EOY |
Deferred Revenue DeferredRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 6624733 | BOY |
| EOY | 6436934 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 6229293 | BOY |
| EOY | 8113533 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 14355612 | BOY |
| EOY | 15396364 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Follow SFAS117 | X | FollowSFAS117 |
Unrestricted Net Assets UnrestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 67985850 | BOY |
| EOY | 75745381 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 67985850 | BOY |
| EOY | 75745381 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 82341462 | BOY |
| EOY | 91141745 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | X | InfoInScheduleOPartXI |
| Reconcilation Revenue Expenses | 7437245 | ReconcilationRevenueExpenses |
| Reconciliation Unrealized Invest | 542471 | ReconciliationUnrealizedInvest |
| Reconcilation Other Changes | -220185 | ReconcilationOtherChanges |
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | 0 | AccountantCompileOrReview |
| FS Audited | 1 | FSAudited |
FS Audited Basis FSAuditedBasis
| Field | Value | IRS element (for citing) |
|---|---|---|
| Financial Statement Separate | X | FinancialStatementSeparate |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | 1 | AuditCommittee |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequired |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Publicly Supported Org170b1 Avi | X | PubliclySupportedOrg170b1Avi |
Gifts Grants Contrib Received170 GiftsGrantsContribReceived170
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 25200793 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 30079783 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 35286613 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 31225803 | CurrentTaxYearMinus1Year |
| Current Tax Year | 38220788 | CurrentTaxYear |
| Total | 160013780 | Total |
Total170 Total170
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 25200793 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 30079783 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 35286613 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 31225803 | CurrentTaxYearMinus1Year |
| Current Tax Year | 38220788 | CurrentTaxYear |
| Total | 160013780 | Total |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Support Total170 | 160013780 | PublicSupportTotal170 |
Gross Investment Income170 GrossInvestmentIncome170
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 2257605 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 1448199 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 1286945 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 1212046 | CurrentTaxYearMinus1Year |
| Current Tax Year | 1060769 | CurrentTaxYear |
| Total | 7265564 | Total |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Support | 167279344 | TotalSupport |
| Gross Receipts From Admissions Etc | 85015607 | GrossReceiptsFromAdmissionsEtc |
| Public Support Pertcentage170 | 0.95660 | PublicSupportPertcentage170 |
| Public Support Pertcent Prior Year | 0.93960 | PublicSupportPertcentPriorYear |
| Thirty Three Percnt Tests CY170 | X | ThirtyThreePercntTestsCY170 |
Schedule C IRS990ScheduleC
Total Grassroots Lobbying TotalGrassrootsLobbying
| Field | Value | IRS element (for citing) |
|---|---|---|
| Filing Organizations Totals | 0 | FilingOrganizationsTotals |
Total Direct Lobbying TotalDirectLobbying
| Field | Value | IRS element (for citing) |
|---|---|---|
| Filing Organizations Totals | 740000 | FilingOrganizationsTotals |
Total Lobbying Expenditures TotalLobbyingExpenditures
| Field | Value | IRS element (for citing) |
|---|---|---|
| Filing Organizations Totals | 740000 | FilingOrganizationsTotals |
Other Exempt Purpose Expenditures OtherExemptPurposeExpenditures
| Field | Value | IRS element (for citing) |
|---|---|---|
| Filing Organizations Totals | 44368582 | FilingOrganizationsTotals |
Total Exempt Purpose Expenditures TotalExemptPurposeExpenditures
| Field | Value | IRS element (for citing) |
|---|---|---|
| Filing Organizations Totals | 45108582 | FilingOrganizationsTotals |
Lobbying Nontaxable LobbyingNontaxableAmount
| Field | Value | IRS element (for citing) |
|---|---|---|
| Filing Organizations Totals | 1000000 | FilingOrganizationsTotals |
Grassroots Nontaxable GrassrootsNontaxableAmount
| Field | Value | IRS element (for citing) |
|---|---|---|
| Filing Organizations Totals | 250000 | FilingOrganizationsTotals |
Tot Lobbying Grassroot Minus Non Tx TotLobbyingGrassrootMinusNonTx
| Field | Value | IRS element (for citing) |
|---|---|---|
| Filing Organizations Totals | 0 | FilingOrganizationsTotals |
Tot Lobby Expend Mns Lobbying Nontx TotLobbyExpendMnsLobbyingNontx
| Field | Value | IRS element (for citing) |
|---|---|---|
| Filing Organizations Totals | 0 | FilingOrganizationsTotals |
Lobbying Nontaxable Amount2 LobbyingNontaxableAmount2
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Year Minus3 | 1000000 | CurrentYearMinus3 |
| Current Year Minus2 | 1000000 | CurrentYearMinus2 |
| Current Year Minus1 | 1000000 | CurrentYearMinus1 |
| Current Year | 1000000 | CurrentYear |
| Total | 4000000 | Total |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Lobbying Ceiling | $6,000,000 | LobbyingCeilingAmount |
Total Lobbying Expenditures2 TotalLobbyingExpenditures2
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Year Minus3 | 510000 | CurrentYearMinus3 |
| Current Year Minus2 | 640000 | CurrentYearMinus2 |
| Current Year Minus1 | 620000 | CurrentYearMinus1 |
| Current Year | 740000 | CurrentYear |
| Total | 2510000 | Total |
Grassroots Nontaxable Amount2 GrassrootsNontaxableAmount2
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Year Minus3 | 250000 | CurrentYearMinus3 |
| Current Year Minus2 | 250000 | CurrentYearMinus2 |
| Current Year Minus1 | 250000 | CurrentYearMinus1 |
| Current Year | 250000 | CurrentYear |
| Total | 1000000 | Total |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grassroots Ceiling | $1,500,000 | GrassrootsCeilingAmount |
Form990 Schedule C Part IV Form990ScheduleCPartIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | PART IV, SUPPLEMENTAL INFORMATION: | Identifier |
| Explanation | EXPENSES PAID TO CONSULTANTS RELATED TO EDUCATING AND INFORMING LAWMAKERS ABOUT THE ACCOUNTING STANDARD SETTING PROCESS AND SPECIFICALLY POTENTIAL LEGISLATION RELATING TO THE OVERSIGHT AND/OR TECHNICAL ACTIVITIES OF THE FASB AND THE GASB INCLUDING THE FOLLOWING: * PUBLIC EMPLOYEE PENSION TRANSPARENCY ACT (H.R. 567 AND S. 347) * SPENDING REDUCTION ACT OF 2011 (H.R. 408) * GSE PORTFOLIO RISK REDUCTION ACT OF 2011 (H.R. 1224) * NATIONAL ACTIVITY BASED TOTAL ACCOUNTABILITY ACT OF 2011 (H.R. 1376) * COMMUNITIES FIRST ACT (H.R. 1697 AND S. 1600) * REOPENING AMERICAN CAPITAL MARKETS TO EMERGING GROWTH COMPANIES ACT (H.R. 3606 AND S. 1933) | Explanation |
Schedule D IRS990ScheduleD
Leasehold Improvements LeaseholdImprovements
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 3662024 | OtherCostOrOtherBasis |
| Depreciation | 3662024 | Depreciation |
| Book Value | 0 | BookValue |
Equipment Equipment
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 12155711 | OtherCostOrOtherBasis |
| Depreciation | 11130181 | Depreciation |
| Book Value | 1025530 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 1025530 | TotalOfBookValueLandBuildings |
Other Liabilities OtherLiabilities (5 entries)
| DescriptionDescription | AmountAmount |
|---|---|
| ACCRUED PAYROLL AND RELATED BENEFITS | $1,086,582 |
| ACCRUED RENT EXPENSE | $2,712,270 |
| ACCRUED PENSION COSTS | $2,589,521 |
| ACCRUED POSTRETIREMENT HEALTH CARE COSTS | $1,480,680 |
| ACCRUED 457B PLAN COSTS | $244,480 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 8113533 | TotalOfAmounts |
| Tot Revenue Etc Audited Fincl Stmt | 53197178 | TotRevenueEtcAuditedFinclStmt |
| Net Unrealized Gains Investments | 542471 | NetUnrealizedGainsInvestments |
| Donated Srvc And Use Of Facilities | 110000 | DonatedSrvcAndUseOfFacilities |
| Revenue Not Rptd F990 | 652471 | RevenueNotRptdF990 |
| Revenue Subtotal | 52544707 | RevenueSubtotal |
| Investment Expenses Not Included | 1120 | InvestmentExpensesNotIncluded |
| Revenue Not Rptd On Fin Stmt | 1120 | RevenueNotRptdOnFinStmt |
| Total Revenue Per Form990 | 52545827 | TotalRevenuePerForm990 |
| Tot Expenses Etc Audited Fincl Stmt | 45217462 | TotExpensesEtcAuditedFinclStmt |
| Donated Services Use Of Facilities | 110000 | DonatedServicesUseOfFacilities |
| Expenses Not Rptd F990 | 110000 | ExpensesNotRptdF990 |
| Expenses Subtotal | 45107462 | ExpensesSubtotal |
| Investment Expenses Not Included2 | 1120 | InvestmentExpensesNotIncluded2 |
| Expenses Not Rptd On Fin Stmt | 1120 | ExpensesNotRptdOnFinStmt |
| Total Expenses Per Form990 | 45108582 | TotalExpensesPerForm990 |
Form990 Schedule D Part XIII Form990ScheduleDPartXIII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Explanation | FORM 990, PART IV, LINE 11F THE FOUNDATION IS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. MANAGEMENT HAS REVIEWED TAX POSITIONS FOR OPEN TAX YEARS AND DETERMINED THAT A PROVISION FOR UNCERTAIN TAX POSITIONS IS NOT REQUIRED. THE FOUNDATION IS CURRENTLY OPEN TO AUDIT UNDER THE STATUTE OF LIMITATIONS BY THE INTERNAL REVENUE SERVICE AND STATE TAXING AUTHORITIES FOR THE YEARS ENDING DECEMBER 31, 2009 THROUGH 2011. | Explanation |
Schedule F IRS990ScheduleF
Accts Actvs Out US Table AcctsActvsOutUSTable (2 entries)
| RegionRegion | Number Of OfficesNumberOfOffices | Number Of EmployeesNumberOfEmployees | Type Of Activities ConductedTypeOfActivitiesConducted | Specific Services ProvidedSpecificServicesProvided | Total ExpendituresTotalExpenditures |
|---|---|---|---|---|---|
| EUROPE (INCLUDING ICELAND & GREENLAND) - | 0 | 0 | PROGRAM SERVICES | ATTEND MEETINGS AND ROUNDTABLES WITH INTERNATIONAL ACCOUNTING STANDARDS BOARD ON ISSUES RELATED TO INTERNATIONAL CONVERGENCE OF ACCOUNTING STANDARDS | 424299 |
| EAST ASIA AND THE PACIFIC - | 0 | 0 | PROGRAM SERVICES | ATTEND MEETINGS WITH STANDARD SETTERS AND OTHERS ON ISSUES RELATED TO INTERNATIONAL CONVERGENCE OF ACCOUNTING STANDARDS | 36781 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Subtotal Number Of Offices | 0 | SubtotalNumberOfOffices |
| Subtotal Number Of Employees | 0 | SubtotalNumberOfEmployees |
| Cont Number Of Offices | 0 | ContNumberOfOffices |
| Cont Number Of Employees | 0 | ContNumberOfEmployees |
| Total Number Of Offices | 0 | TotalNumberOfOffices |
| Total Number Of Employees | 0 | TotalNumberOfEmployees |
| Subtotal Amount Spent | 461080 | SubtotalAmountSpent |
| Cont Amount Spent | 0 | ContAmountSpent |
| Total Amount Spent | 461080 | TotalAmountSpent |
| Transfer To Foreign Corp | 0 | TransferToForeignCorp |
| Interest In Foreign Trust | 0 | InterestInForeignTrust |
| Own Foreign Corp | 0 | OwnForeignCorp |
| Passive Foreign Invest Co | 0 | PassiveForeignInvestCo |
| Foreign Partnership | 0 | ForeignPartnership |
| Boycott Countries | 0 | BoycottCountries |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Idemnification Gross Up Payments | X | IdemnificationGrossUpPayments |
| Club Dues Or Fees | X | ClubDuesOrFees |
| Written Policy Re T And E Expenses | 1 | WrittenPolicyReTAndEExpenses |
| Substantiation Required | 1 | SubstantiationRequired |
| Compensation Committee | X | CompensationCommittee |
| Independent Consultant | X | IndependentConsultant |
| Form990 Of Other Organizations | X | Form990OfOtherOrganizations |
| Compensation Survey | X | CompensationSurvey |
| Board Or Committee Approval | X | BoardOrCommitteeApproval |
| Severance Payment | 0 | SeverancePayment |
| Supplemental Nonqual Retire Plan | 1 | SupplementalNonqualRetirePlan |
| Equity Based Comp Arrangement | 0 | EquityBasedCompArrangement |
| Comp Based On Revenue Of Filing Org | 0 | CompBasedOnRevenueOfFilingOrg |
| Comp Based On Revenue Related Orgs | 0 | CompBasedOnRevenueRelatedOrgs |
| Comp Based Net Earnings Filing Org | 0 | CompBasedNetEarningsFilingOrg |
| Comp Based Net Earnings Relate Orgs | 0 | CompBasedNetEarningsRelateOrgs |
| Any Non Fixed Payments | 0 | AnyNonFixedPayments |
| Initial Contract Exception | 0 | InitialContractException |
Form990 Schedule J Part II Form990ScheduleJPartII (11 entries)
| TitleTitle | Base Compensation Filing OrgBaseCompensationFilingOrg | Comp Based On Related OrgsCompBasedOnRelatedOrgs | Bonus Filing OrgBonusFilingOrg | Bonus Related OrgsBonusRelatedOrgs | Other Compensation Filing OrgOtherCompensationFilingOrg | Other Compensation Related OrgsOtherCompensationRelatedOrgs | Deferred Comp Filing OrgDeferredCompFilingOrg | Deferred Comp Related OrgsDeferredCompRelatedOrgs | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrg | Nontaxable Benefits Related OrgsNontaxableBenefitsRelatedOrgs | Total Compensation Filing OrgTotalCompensationFilingOrg | Total Compensation Related OrgsTotalCompensationRelatedOrgs | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrg | Comp Report Prior990 Related OrgsCompReportPrior990RelatedOrgs |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| JOHN J BRENNAN | ||||||||||||||
| TRUSTEE, CHAIRMAN THROUGH 10/16/12 | 201458 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 201458 | 0 | 0 | 0 |
| TERESA S POLLEY | ||||||||||||||
| PRESIDENT | 446850 | 0 | 45000 | 0 | 118191 | 0 | 41497 | 0 | 4970 | 0 | 656508 | 0 | 0 | 0 |
| RONALD P GUERRETTE | ||||||||||||||
| VICE PRESIDENT | 299935 | 0 | 9000 | 0 | 45795 | 0 | 46792 | 0 | 22845 | 0 | 424367 | 0 | 0 | 0 |
| JODI P DOTTORI | ||||||||||||||
| VICE PRESIDENT AND GENERAL | 255366 | 0 | 33000 | 0 | 4790 | 0 | 58926 | 0 | 33697 | 0 | 385779 | 0 | 0 | 0 |
| ROBERT H ATTMORE | ||||||||||||||
| CHAIRMAN, GASB | 389232 | 0 | 0 | 0 | 65770 | 0 | 70513 | 0 | 6648 | 0 | 532163 | 0 | 0 | 0 |
| LESLIE F SEIDMAN | ||||||||||||||
| CHAIRMAN, FASB | 820740 | 0 | 0 | 0 | 203256 | 0 | 46886 | 0 | 32416 | 0 | 1103298 | 0 | 0 | 0 |
| LAWRENCE W SMITH | ||||||||||||||
| BOARD MEMBER | 648191 | 0 | 0 | 0 | 200245 | 0 | 63418 | 0 | 32761 | 0 | 944615 | 0 | 0 | 0 |
| THOMAS J LINSMEIER | ||||||||||||||
| BOARD MEMBER | 647473 | 0 | 0 | 0 | 141752 | 0 | 47555 | 0 | 33201 | 0 | 869981 | 0 | 0 | 0 |
| RUSSELL G GOLDEN | ||||||||||||||
| BOARD MEMBER | 648323 | 0 | 0 | 0 | 98622 | 0 | 42590 | 0 | 32351 | 0 | 821886 | 0 | 0 | 0 |
| DARYL E BUCK | ||||||||||||||
| BOARD MEMBER | 647262 | 0 | 0 | 0 | 67138 | 0 | 36044 | 0 | 26704 | 0 | 777148 | 0 | 0 | 0 |
| R HAROLD SCHROEDER | ||||||||||||||
| BOARD MEMBER | 646623 | 0 | 0 | 0 | 77730 | 0 | 74054 | 0 | 34333 | 0 | 832740 | 0 | 0 | 0 |
Form990 Schedule J Part III Form990ScheduleJPartIII (2 entries)
| Return ReferenceReturnReference | ExplanationExplanation |
|---|---|
| PART I, LINE 1A | GROSS-UP PAYMENTS ARE PROVIDED RELATIVE TO CERTAIN RETIREMENT PLAN PAYMENTS. SUCH PAYMENTS ARE TREATED AS TAXABLE COMPENSATION. ALL EMPLOYEES ARE ELIGIBLE FOR REIMBURSEMENT FOR A PORTION OF HEALTH CLUB DUES AT SELECTED FACILITIES, WHICH ARE INCLUDED AS COMPENSATION. |
| PART I, LINE 4B | THE FOLLOWING COVERED INDIVIDUALS PARTICIPATED IN THE FOUNDATION'S NON-QUALIFIED RETIREMENT BENEFIT PLAN/PROGRAMS IN 2012 AND RECEIVED AND/OR WERE DEEMED TO HAVE RECEIVED THE FOLLOWING AMOUNTS: TERESA POLLEY - $114,406 RONALD GUERRETTE- $40,452 LAWRENCE SMITH- $190,941 LESLIE SEIDMAN- $199,394 THOMAS LINSMEIER- $136,126 ROBERT ATTMORE- $53,385 RUSSELL GOLDEN- $96,362 DARYL BUCK- $63,276 HAROLD SCHROEDER - $71,587 JODI DOTTORI- $3,120 AMOUNTS REPRESENT BENEFITS RECEIVED AND/OR WERE DEEMED TO HAVE RECEIVED UNDER SUPPLEMENTAL PLANS THAT ARE SUBSTANTIALLY EQUIVALENT TO THE BENEFITS PROVIDED UNDER FAF'S QUALIFIED RETIREMENT PLANS ON COMPENSATION IN EXCESS OF THE INTERNAL REVENUE CODE COMPENSATION LIMIT. |
Schedule L IRS990ScheduleL
Form990 Schedule L Part IV Form990ScheduleLPartIV (2 entries)
| RelationshipRelationship | Amount Of TransactionAmountOfTransaction | Description Of TransactionDescriptionOfTransaction | Sharing Of RevenuesSharingOfRevenues |
|---|---|---|---|
| ERNST YOUNG | |||
| STEPHEN HOWE IS AMERICAS MANAGING PARTNER-ERNST & YOUNG,LLP/TRUSTEE OF FAF | 2457997 | THERE ARE SEVERAL TRANSACTIONS BETWEEN ERNST & YOUNG AND THE FOUNDATION. THE FOUNDATION LICENSES SUBSCRIPTION SERVICES TO ITS AUTHORITATIVE LITERATURE TO ERNST & YOUNG FOR ITS INTERNAL USE AS WELL AS SUBLICENSING AND ARE SUBSTANTIALLY SIMILAR TO THOSE FEES CHARGED TO SIMILARLY SIZED LICENSEES. IN ADDITION, ERNST & YOUNG PURCHASES HARDCOPY PUBLICATIONS AND SUBSCRIPTIONS OF THE AUTHORITATIVE LITERATURE. THESE TRANSACTIONS ARE AT ARMS-LENGTH, AND BASED UPON THE FOUNDATION'S STATUS AS THE AUTHORITATIVE STANDARD SETTER FOR ACCOUNTING, ARE A NECESSITY. IN ADDITION, SEVERAL MEMBERS OF ERNST & YOUNG PARTICIPATED IN THE FAF'S FELLOWSHIP PROGRAM. THESE INDIVIDUALS WORK AT THE FASB & GASB FOR PERIODS RANGING FROM 18-24 MONTHS, AND FAF REIMBURSES ERNST & YOUNG AN AGREED UPON FEE FOR THEIR SERVICES. STEPHEN HOWE HAS NO DIRECT INVOLVEMENT IN NEGOTIATING THE TERMS OR AMOUNTS IN THE AGREEMENTS AND RECEIVES NO BENEFIT FROM THE TRANSACTIONS. | 0 |
| GRANT THORNTON LLP | |||
| EDWARD NUSBAUM IS CEO OF GRANT THORNTON/TRUSTEE OF FAF | 181280 | THERE ARE SEVERAL TRANSACTIONS BETWEEN GRANT THORNTON AND THE FOUNDATION. GRANT THORNTON PURCHASES HARDCOPY PUBLICATIONS AND SUBSCRIPTIONS OF THE AUTHORITATIVE LITERATURE. THESE TRANSACTIONS ARE AT ARMS-LENGTH, AND BASED UPON THE FOUNDATION'S STATUS AS THE AUTHORITATIVE STANDARD SETTER FOR ACCOUNTING, ARE A NECESSITY. IN ADDITION, SEVERAL MEMBERS OF GRANT THORNTON PARTICIPATED IN THE FAF'S FELLOWSHIP PROGRAM. THESE INDIVIDUALS WORK AT THE FASB & GASB FOR PERIODS RANGING FROM 18-24 MONTHS, AND FAF REIMBURSES GRANT THORNTON AN AGREED UPON FEE FOR THEIR SERVICES. EDWARD NUSBAUM HAS NO DIRECT INVOLVEMENT IN NEGOTIATING THE TERMS OR AMOUNTS IN THE AGREEMENTS AND RECEIVES NO BENEFIT FROM THE TRANSACTIONS. | 0 |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (5 entries)
| Return ReferenceReturnReference | ExplanationExplanation | IdentifierIdentifier |
|---|---|---|
| FORM 990, PART VI, SECTION B, LINE 11 | THE AUDIT AND COMPLIANCE COMMITTEE OF THE BOARD OF TRUSTEES REVIEWS AND APPROVES THE FORM 990 PRIOR TO IT BEING FILED. | |
| FORM 990, PART VI, SECTION B, LINE 12C | THE FOUNDATION HAS A WRITTEN CONFLICT OF INTEREST POLICY THAT COVERS THE FASB AND GASB BOARD MEMBERS, THE FAF PRESIDENT, AND ALL OTHER EMPLOYEES OF THE FAF. ON A QUARTERLY BASIS THESE INDIVIDUALS ARE REQUIRED TO REPORT THEIR INTERESTS THAT WOULD POSE A CONFLICT TO THE FOUNDATION. FAILURE TO ADHERE TO THE POLICY CAN INCLUDE TERMINATION. THE FAF ALSO MAINTAINS AN OMBUDS POLICY APPLICABLE TO ALL FAF EMPLOYEES AND THE MEMBERS OF THE FAF BOARD OF TRUSTEES. UNDER THE OMBUDS POLICY, EACH EMPLOYEE AND TRUSTEE HAS AN AFFIRMATIVE DUTY TO REPORT PROMPTLY VIOLATIONS OF LAWS AND UNETHICAL (INCLUDING CONFLICTS OF INTEREST), UNWANTED AND/OR QUESTIONABLE BEHAVIOR. THE OMBUDS POLICY PROVIDES SPECIFIC PROTECTIONS FROM EMPLOYMENT RETALIATION TO INDIVIDUALS WHO, IN GOOD FAITH, REPORT POTENTIAL VIOLATIONS OF THE OMBUDS AND OTHER POLICIES OF THE FAF. THE FAF IS ALSO IN THE PROCESS OF DEVELOPING A STAND-ALONE CODE OF ETHICS/CONFLICTS POLICY THAT WILL BE APPLICABLE TO THE FAF TRUSTEES. | |
| FORM 990, PART VI, SECTION B, LINE 15 | THE FINANCE AND COMPENSATION COMMITTEE OF THE FAF BOARD OF TRUSTEES, WHICH IS COMPRISED OF INDEPENDENT TRUSTEES, HAS THE AUTHORITY TO RECOMMEND ANNUAL COMPENSATION PARAMETERS FOR THE KEY EMPLOYEES, WHICH INCLUDES THE FAF PRESIDENT AND CHIEF EXECUTIVE OFFICER, FASB AND GASB CHAIRS (AS KEY EMPLOYEES), AND CERTAIN OTHER FAF EMPLOYEES, INCLUDING FASB MEMBERS WHO ARE AMONG THE 5 HIGHEST COMPENSATED EMPLOYEES OF THE FAF. THESE RECOMMENDATIONS ARE BASED ON STUDIES CONDUCTED BY INDEPENDENT COMPENSATION CONSULTANTS THAT PERFORM MARKET RESEARCH AND PROVIDE COMPREHENSIVE COMPENSATION COMPARABILITY REPORTS. THE APPOINTMENTS AND EVALUATIONS COMMITTEE OF THE FAF BOARD OF TRUSTEES, WHICH IS COMPRISED OF INDEPENDENT TRUSTEES, IS RESPONSIBLE FOR REVIEWING THE PERFORMANCE OF FASB AND GASB MEMBERS ANNUALLY, AND THE EXECUTIVE COMMITTEE OF THE FAF BOARD OF TRUSTEES, WHICH IS COMPRISED OF INDEPENDENT TRUSTEES, IS RESPONSIBLE FOR REVIEWING THE PERFORMANCE OF THE FAF PRESIDENT AND CHIEF EXECUTIVE OFFICER ANNUALLY. SINCE THE ACTUAL COMPENSATION AMOUNT IS TIED TO PERFORMANCE, THE APPOINTMENTS AND EVALUATIONS COMMITTEE SHALL DETERMINE THE SPECIFIC COMPENSATION RECOMMENDATION FOR THE FASB AND GASB MEMBERS, WHILE THE EXECUTIVE COMMITTEE SHALL DETERMINE THE SPECIFIC COMPENSATION RECOMMENDATION FOR THE FAF PRESIDENT AND CHIEF EXECUTIVE OFFICER. THESE COMPENSATION RECOMMENDATIONS WILL THEN BE PROVIDED TO THE FULL BOARD OF TRUSTEES FOR THEIR APPROVAL. COMPREHENSIVE COMPENSATION STUDIES OF KEY EMPLOYEE COMPENSATION ARE CONDUCTED EVERY THREE YEARS, WITH THE LAST STUDY BEING PERFORMED IN 2011. IN THE INTERVENING YEARS, THE COMPENSATION DATA IS UPDATED BY THE CONSULTANTS BASED ON MARKETPLACE DATA. ADDITIONALLY, DURING 2012, AN INDEPENDENT CONSULTING FIRM PROVIDED WRITTEN OPINIONS AFFIRMING (1) THE FAIRNESS (UNDER THE INTERMEDIATE SANCTIONS RULES PROMULGATED PURSUANT TO THE IRC) OF THE COMPENSATION DETERMINATIONS MADE BY THE BOARD OF TRUSTEES FOR 2011 WITH RESPECT TO KEY EMPLOYEES, AND (2) THE FAIRNESS OF 2011 TRUSTEE COMPENSATION. FOR OTHER FAF EMPLOYEES, SALARY RANGES ARE REVIEWED EVERY THREE YEARS ON THE BASIS OF MARKET COMPENSATION DATA PROVIDED BY INDEPENDENT COMPENSATION CONSULTANTS. DURING THE INTERVENING YEARS, SALARY RANGES ARE ADJUSTED FOR INFLATION. THE MOST RECENT COMPENSATION STUDIES WITH RESPECT TO THESE FAF STAFF POSITIONS WERE PERFORMED IN 2010 FOR IMPLEMENTATION TO COINCIDE WITH THE ANNUAL 2011 SALARY INCREASES. | |
| FORM 990, PART VI, SECTION C, LINE 19 | THE ANNUAL REPORT, WHICH INCLUDES THE FOUNDATION'S AUDITED FINANCIAL STATEMENTS, AND GOVERNING DOCUMENTS ARE LOCATED ON THE FOUNDATION'S WEBSITE. AT THIS TIME, THE FOUNDATION'S CONFLICT OF INTEREST POLICY IS AVAILABLE TO THE PUBLIC UPON REQUEST. | |
| FORM 990, PART XI, LINE 9: | PENSION RELATED CHANGES-AMOUNTS REFLECTED AS OTHER CHANGE IN NET ASSETS -220,185. | CHANGES IN NET ASSETS OR FUND BALANCES: |