2026-02-11T09:39:12-06:00 2025-03-31 420714325 RSM US LLP 30 South Wacker Dr Suite 3300 Chicago IL 606063392 990 2024-04-01 362167796 Government Finance Officers Association the United States & Canada GOVE 3129779700 203 N LaSalle St Suite 2700 Chicago IL 60601 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 60601 28021736 0 X www.gfoa.org X 1932 IL The purpose of the Government Finance Officers Association ("GFOA") is to advance excellence and innovation in government finance to build thriving communities. 18 18 91 1600 3457124 0 792617 2480044 20004185 21353327 319014 604853 454453 274933 21570269 24713157 345129 335697 0 0 12392603 13272888 0 0 0 10930692 11943886 23668424 25552471 -2098155 -839314 23830331 22264843 17869833 17140768 5960498 5124075 X The purpose of the Government Finance Officers Association ("GFOA") is to advance excellence and innovation in government finance to build thriving communities. 0 0 6893614 5000 8402173 Training and Annual Conference - Seminars and concurrent sessions are held on various governmental accounting, auditing, and financial reporting issues, as well as budgeting and financial planning, debt management, economic development, pension and benefit administration, technology and digital government, treasury management and investing. 176 training seminars were held with attendance of 34,200 participants, including GFOA's annual conference. 4460219 121450 4018269 Award Programs - Certificate of Achievement for Excellence in Financial Reporting, Distinguished Budget Presentation, Canadian Award for Financial Reporting and Popular Annual Financial Reporting are programs in which members of GFOA's special review committee review financial reports of governments participating in the programs. 6,814 submissions were reviewed and 6,735 were awarded to governments. 3910789 0 3119674 Research and Consulting - The Research and Consulting Center performs research and consulting on various public sector finance and administration issues and publishes research findings to over 26,000 members both online and through Government Finance Review. Publications are available to members of the government finance profession, all government officials, and the general public. 3871344 209247 6086065 Membership, Resources, Certification, Relationships, and Advocacy 3871344 209247 6086065 19135966 1 1 0 1 0 0 0 0 0 0 1 1 0 1 1 1 0 1 0 0 1 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 1 83 0 1 91 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 18 18 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 IL CA X Sarah Lombardi 3129779700 203 N LaSalle St Suite 2700 Chicago IL 60601 Tanya Garost President 4.50 0.10 X X 0 0 0 Lunda Asmani President-Elect 1.25 0.10 X X 0 0 0 Laura Allen Past President 1.25 0.10 X X 0 0 0 Terri Velasquez Past President until 6/11/24 1.25 0.10 X X 0 0 0 Diane Allison Board Member as of 6/11/24 0.50 0.10 X 0 0 0 Sonia Andrews Board Member 0.50 0.10 X 0 0 0 Jennifer Brown Board Member 0.50 0.10 X 0 0 0 Veronica Carrillo Board Member until 6/11/24 0.50 0.10 X 0 0 0 Timothy Ewell Board Member 0.50 0.10 X 0 0 0 Bruce Fisher Board Member until 6/11/24 0.50 0.10 X 0 0 0 Chris Forster Board Member as of 6/11/24 0.50 0.10 X 0 0 0 Jason Greene Board Member 0.50 0.10 X 0 0 0 Edward Gin Board Member 0.50 0.10 X 0 0 0 Clae Hack Board Member as of 6/11/24 0.50 0.10 X 0 0 0 Anne Harty Board Member until 6/11/24 0.50 0.10 X 0 0 0 Harpeet Hora Board Member as of 6/11/24 0.50 0.10 X 0 0 0 Rafiu O Ighile Board Member as of 6/11/24 0.50 0.10 X 0 0 0 Susan Iverson Board Member until 6/11/24 0.50 0.10 X 0 0 0 Grace Martinez Board Member 0.50 0.10 X 0 0 0 Debra Roberts Board Member until 6/11/24 0.50 0.10 X 0 0 0 David Schmiedicke Board Member 0.50 0.10 X 0 0 0 Ember Strange Board Member as of 6/11/24 0.50 0.10 X 0 0 0 Kendel Taylor Board Member 0.50 0.10 X 0 0 0 Diane Waldron Board Member 0.50 0.10 X 0 0 0 Christopher P Morrill Executive Director, CEO 40.00 0.10 X 449605 0 79692 Sarah Lombardi Director of Finance 40.00 0.10 X 226361 0 46287 Michael Mucha Deputy Executive Director 40.00 0.00 X 353152 0 83555 Beth Aldana Chief Administrative Officer 40.00 0.00 X 290274 0 67313 Michele M Levine Director, Technical Services Center 40.00 0.00 X 372468 0 66137 Emily Brock Director, Federal Liaison 40.00 0.00 X 264209 0 72209 Shayne Kavanagh Senior Manager, Research 40.00 0.00 X 253908 0 40908 Randall Towns Director of Education 40.00 0.00 X 209961 0 54208 Eva Olsaker Director of Consulting 40.00 0.00 X 211022 0 44672 2630960 0 554981 39 0 1 0 Right Angle Studio 1736 1st Street Highland IL 60035 Magazine Design Consulting Services 200540 Susan Gaffney 36 Pinzon Rancho Santa Margarita CA 92688 Consulting Services 173490 Lobo Learning PO Box 20244 Roanoke VA 24018 On-Demand Development 137500 RSM US LLP 5155 Paysphere Circle Chicago IL 60674 Consulting & Audit Services 113840 Carol MacLeod 8913 Regents Park Drive Tampa FL 33647 Consulting Services 102812 5 1815946 664098 2480044 Training & Annual Conference 611430 8402173 8402173 Membership Dues 611430 4727495 4727495 Award Programs 611430 4018269 4018269 Consulting 611430 3119674 3119674 Subscriptions 513120 489307 151857 337450 596409 596409 21353327 242093 242093 3610496 3247736 362760 362760 362760 333697 60843 272854 272854 2079 2079 2079 24713157 18169057 3457124 606932 X 209247 209247 126450 126450 2688490 1706018 982472 7415039 5842575 1572464 1021463 824839 196624 1470042 1187069 282973 677854 547372 130482 83978 83978 62871 62871 2680 2680 3305068 2412475 892593 157011 137895 19116 1320306 1276633 43673 883224 574012 309212 1156626 50494 1106132 1103896 873238 230658 3137092 2986532 150560 420914 250891 170023 178732 178732 131488 130226 1262 25552471 19135966 6416505 0 1888604 1935839 2715743 2166720 2457555 1610502 54520 28028 895572 859450 2093323 1266212 840640 827111 8507140 7890806 2325077 2522254 379431 316862 3766049 4107271 23830331 22264843 3771913 4357520 8938141 8476834 5159779 4306414 17869833 17140768 X 4608193 3483995 1352305 1640080 5960498 5124075 23830331 22264843 -839314 2891 0 X 0 1 X 1 0 X 722557 1551209 934108 792617 2480044 6480535 14373486 12499787 14877620 17583374 18229900 77564167 15096043 14050996 15811728 18375991 20709944 84044702 63000 16322 20037 30603 17003 146965 689250 1793201 39300 165973 2687724 752250 1809523 59337 30603 182976 2834689 81210013 1235918 159741 200638 234400 242093 2072790 1235918 159741 200638 234400 242093 2072790 128220 617 7656 1248 2079 139820 16460181 14211354 16020022 18611639 20954116 86257312 0.94150 0.93150 0.02400 0.02490 X Schedule A, Part III, Line 12, Explanation of Other Income: Miscellaneous Revenue - 2020 Amount: $ 666. 2021 Amount: $ 617. 2022 Amount: $ 7,656. 2023 Amount: $ 1,248. 2024 Amount: $ 2,079. Insurance Proceeds - 2020 Amount: $ 127,554. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 0 0 0 0 1 8128 1 8128 0 16256 0 Part II-B, Line 1: The Federal Liaison Center informs GFOA members about federal legislation, regulations, judicial actions, and policies that affect public finance functions and represents the interests of GFOA in Washington, DC. Center staff collects, analyzes, and disseminates information to GFOA members and provides policymakers with information on GFOA positions. 1558501 1069001 489500 293864 168411 125453 240958 28800 212158 827111 GFOA 457(b) Plan Investments (TIAA) 2522254 F 2522254 Right-of-use Assets 3234180 Due from Related Party 873091 4107271 Right-of-use Liabilities 4306414 4306414 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. North America 0 0 Program Services Speaker Fees and Travel Expenses 13564 East Asia and the Pacific 0 0 Program Services Educational Course Development 13246 Europe (Including Iceland & Greenland) 0 0 Program Services SAAS Fees and Travel Expenses 9375 0 0 0 0 0 0 36185 0 36185 0 0 0 0 0 0 1 Boston College Center for Retirement Research 140 Commonwealth Avenue Chestnut Hill MA 02467 042103545 501(c)(3) 209247 0 Research 1 0 Scholarships are awarded to encourage highly qualified individuals to pursue careers in public finance. 19 126450 Part I, Line 2: The contributions are monitored by the program directors. If applicable, reports are requested from the recipient to illustrate proper use of funding. X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 Christopher P Morrill Executive Director, CEO 446421 0 0 0 3184 0 45762 0 33930 0 529297 0 0 0 Michele M Levine Director, Technical Services Center 370784 0 0 0 1684 0 45853 0 20284 0 438605 0 0 0 Michael Mucha Deputy Executive Director 352779 0 0 0 373 0 45966 0 37589 0 436707 0 0 0 Beth Aldana Chief Administrative Officer 289015 0 0 0 1259 0 40920 0 26393 0 357587 0 0 0 Emily Brock Director, Federal Liaison 263813 0 0 0 396 0 38510 0 33699 0 336418 0 0 0 Shayne Kavanagh Senior Manager, Research 253535 0 0 0 373 0 25767 0 15141 0 294816 0 0 0 Sarah Lombardi Director of Finance 226041 0 0 0 320 0 34218 0 12069 0 272648 0 0 0 Randall Towns Director of Education 209128 0 0 0 833 0 32628 0 21580 0 264169 0 0 0 Eva Olsaker Director of Consulting 210576 0 0 0 446 0 32671 0 12001 0 255694 0 0 0 Part I, Line 1a Travel for companions - Reimbursement of companion travel expenses for President, President-Elect, Past-President, and Executive Director/CEO are generally considered taxable unless the business purpose of the companion's travel has been established and documented. Form 990, Part VI, Section A, line 6 GFOA membership classes are composed of active members, associate members, and honorary members. Form 990, Part VI, Section A, line 7a Active members in good standing shall be entitled to vote on a) Election of the executive board; b) Approval of honorary members; c) Amendment of bylaws; and d) Other such matters the executive board presents to the voting members. Form 990, Part VI, Section A, line 7b GFOA's public policy positions are developed by the GFOA standing committees, approved by the GFOA Executive Board, and adopted by the GFOA membership at the annual business meeting held in conjunction with the GFOA Annual Conference. 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 reviewed by the finance committee and then distributed to all 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 B, line 15 Compensation committee, independent compensation consultant, Form 990 of other organizations, compensation survey, approval by the compensation committee, and approval by the full Executive Board. Form 990, Part VI, Section C, line 19 Governing documents and conflict of interest policy available upon request. Audited financial statements are available at www.gfoa.org and to the public upon request. Form 990, Part IX, line 11g Consulting & Subcontractor Fees: Program service expenses 2,412,475. Management and general expenses 892,593. Fundraising expenses 0. Total expenses 3,305,068. GFOA Endowment Corporation 203 N LaSalle Street Suite 2700 Chicago IL 60601 237208840 Type I Supporting Organization IL 501(c)(3) Line 12a, I Government Finance Officers Assn of the United States & Canada 1 0 0 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 GFOA Endowment Corporation C 1815946 Book Value