2026-02-11T09:35:49-06:00 2025-03-31 420714325 RSM US LLP 30 South Wacker Dr Suite 3300 Chicago IL 606063392 990 2024-04-01 237208840 GFOA Endowment Corporation GFOA 3129779700 203 N LaSalle St Suite 2700 Chicago IL 606011216 Christopher P Morrill Executive Director/CEO 3129779700 2026-02-09 1 1 Ariel Garcia P02244437 3126343400 2026-02-09 2024 2025-03-06 01:10:19Z Christopher P Morrill 203 N LaSalle St Suite 2700 Chicago IL 606011216 5093350 0 X N/A X 1971 IL The purpose of the GFOA Endowment Corporation is to operate as a supporting organization described under Section 509(a)(3) of the Internal Revenue Code exclusively for the benefit of, to perform the functions of, or to carry out the purpose of the Government Finance Officers Association. 18 18 0 18 0 0 0 0 0 0 986689 1467137 0 0 986689 1467137 309917 1815946 0 0 0 0 0 0 0 12168 16635 322085 1832581 664604 -365444 36716386 38217855 0 873091 36716386 37344764 X The purpose of the GFOA Endowment Corporation is to operate as a supporting organization described under Section 509(a)(3) of the Internal Revenue Code exclusively for the benefit of, to perform the functions of, or to carry out the purpose of the Government Finance Officers Association. 0 0 1815946 1815946 0 The purpose of the GFOA Endowment Corporation is to operate as a supporting organization described under Section 509(a)(3) of the Internal Revenue Code exclusively for the benefit of, to perform the functions of, or to carry out the purpose of the Government Finance Officers Association. 1815946 1 0 0 0 0 0 0 0 0 0 0 0 0 0 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 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 18 18 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 IL X Sarah Lombardi 3129779700 203 N LaSalle St Suite 2700 Chicago IL 606011216 Tanya Garost President 0.10 4.50 X X 0 0 0 Lunda Asmani President-Elect 0.10 1.25 X X 0 0 0 Laura Allen Past President 0.10 1.25 X X 0 0 0 Terri Velasquez Past President until 6/11/24 0.10 1.25 X X 0 0 0 Diane Allison Board Member as of 6/11/24 0.10 0.50 X 0 0 0 Sonia Andrews Board Member 0.10 0.50 X 0 0 0 Jennifer Brown Board Member 0.10 0.50 X 0 0 0 Veronica Carrillo Board Member until 6/11/24 0.10 0.50 X 0 0 0 Timothy Ewell Board Member 0.10 0.50 X 0 0 0 Bruce Fisher Board Member until 6/11/24 0.10 0.50 X 0 0 0 Chris Forster Board Member as of 6/11/24 0.10 0.50 X 0 0 0 Jason Greene Board Member 0.10 0.50 X 0 0 0 Edward Gin Board Member 0.10 0.50 X 0 0 0 Clae Hack Board Member as of 6/11/24 0.10 0.50 X 0 0 0 Anne Harty Board Member until 6/11/24 0.10 0.50 X 0 0 0 Harpreet Hora Board Member as of 6/11/24 0.10 0.50 X 0 0 0 Rafiu O Ighile Board Member as of 6/11/24 0.10 0.50 X 0 0 0 Susan Iverson Board Member until 6/11/24 0.10 0.50 X 0 0 0 Grace Martinez Board Member 0.10 0.50 X 0 0 0 Ember Strange Board Member as of 6/11/24 0.10 0.50 X 0 0 0 Kendel Taylor Board Member 0.10 0.50 X 0 0 0 Debra Roberts Board Member until 6/11/24 0.10 0.50 X 0 0 0 David Schmiedicke Board Member 0.10 0.50 X 0 0 0 Diane Waldron Board Member 0.10 0.50 X 0 0 0 Christopher P Morrill Executive Director, CEO 0.10 40.00 X 0 449605 79692 Sarah Lombardi Director of Finance 0.10 40.00 X 0 226361 46287 0 675966 125979 0 0 1 0 0 769490 769490 4323860 3626213 697647 697647 697647 1467137 0 0 1467137 1815946 1815946 4300 4300 12320 12320 15 15 1832581 1815946 16635 0 100720 106570 36297606 38111285 318060 0 36716386 38217855 0 873091 0 873091 X 36716386 37344764 36716386 37344764 36716386 38217855 -365444 993822 0 X 0 1 X 1 0 X X 1 Goverment Finance Officers Association 362167796 10 1 1815946 0 1 1815946 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 Due to GFOA 873091 873091 X Part X, Line 2: The GFOA and Endowment Corporation are both tax-exempt organizations as permitted under Section 501(c)(3) of the Internal Revenue code. 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 GFOA and the Endowment Corporation 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. Examples of tax positions include the tax-exempt status of GFOA or the Endowment and various positions related to the potential sources of unrelated business income (UBIT). The tax benefits recognized in the financial statements form such a position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. There were no unrecognized tax benefits identified or recorded as liabilities for the reported period presented in these financial statements. GFOA and the Endowment Corporation each separately file Form 990 in the U.S. federal jurisdiction and the State of Illinois. GFOA also files a Form 990-T with the Internal Revenue Service. GFOA has federal net operating loss carryforwards available to offset future unrelated taxable income, if any. Net operating loss carryforwards total in excess of $1 million at March 31, 2025 and 2024. Future utilization of the carryforwards (limited to 80% of taxable income) is uncertain. Accordingly, the associated deferred tax asset is fully reserved by a valuation allowance. 1 Government Finance Officers Association 203 N LaSalle Street Suite 2700 Chicago IL 60601 362167796 501(c)(3) 1815946 0 General Support 1 0 Part I, Line 2: The contributions must be used exclusively for the benefit of, to perform the functions of, or to carry out the purposes of the Government Finance Officers Association (GFOA). 0 0 0 0 0 0 0 0 0 Christopher P Morrill Executive Director, CEO 0 446421 0 0 0 3184 0 45762 0 33930 0 529297 0 0 Sarah Lombardi Director of Finance 0 226041 0 0 0 320 0 34218 0 12069 0 272648 0 0 Part I, Line 3 Compensation was established and paid by Government Finance Officers Association ("GFOA"), a related organization. GFOA used the following to establish the CEO's compensation: - Compensation committee - Independent compensation consultant - Form 990 of other organizations - Compensation survey or study - Approval by the board or compensation committee Form 990, Part VI, Section B, line 11b The Organization retains the services of an independent CPA firm to prepare the Organization's 990. Management reviews the completed Form 990 draft. Once a draft of the 990 has been completed, the 990 is distributed to all finance committee and board of director members of the Organization via a secure website. The board members are then able to review the 990 draft and respond with questions, concerns, or comments. At the end of the review period, including any time needed to address questions and comments, the 990 is finalized and filed with the IRS. Form 990, Part VI, Section B, line 12c Each year, all members of the board of directors and staff are required to read and sign the conflict-of-interest policy. This statement requires certification that they "are not aware of any matter in which I am personally involved that may present an actual or potential conflict of interest." If any potential or actual conflict of interest arises during the year, they agree to immediately disclose the conflict and if appropriate remove themselves from discussion, vote and/or further service. Form 990, Part VI, Section C, line 19 The governing documents, conflict of interest policy are available upon request. Audited financial statements are available to the public on GFOA'S website (WWW.GFOA.ORG) and upon request. Government Finance Officers Assn of the United States & Canada 203 N LaSalle Street Suite 2700 Chicago IL 60601 362167796 Educational IL 501(c)(3) Line 10 N/A 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 Government Finance Officers Association B 1815946 Cash Value