Financial Executives International
- Assets
- $4.9m
- Revenue
- $2.6m
- Investments
- $0.0
- Employees
- 32
- Location
- Morristown, NJ
- Founding
- 10/1948
- Data as of
- 06/2023
- EIN
- 13-1981932
Organization Overview
Financial Executives International is located in Morristown, NJ. The organization was established in 1948. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2023, Financial Executives International employed 32 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes. Financial Executives International is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 06/2023, Financial Executives International generated $2.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (10.5%) each year. All expenses for the organization totaled $3.2m during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (7.2%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO ADVANCE THE SUCCESS OF FINANCIAL LEADERS, THEIR ORGANIZATIONS, AND THE PROFESSION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FEI CONTINUES TO PROVIDE ITS MEMBERS WITH OPPORTUNITIES TO CONNECT AND NETWORK WITH PEERS, BOTH IN-PERSON AND VIRTUALLY. PRIVATE ONLINE COMMUNITIES ARE PROVIDED TO FACILITATE VIRTUAL NETWORKING PERMITTING MEMBERS TO EXCHANGE INFORMATION, GAIN INSIGHTS AND OBTAIN TOOLS TO ASSIST WITH PERSONAL AND PROFESSIONAL DEVELOPMENT. THROUGH SUPPORT OF FEI'S NATIONWIDE CHAPTER NETWORK, CHAPTER LEADERS AND ADMINISTRATORS WERE PROVIDED WITH SYSTEMS, MARKETING TEMPLATES, REPORTS, MEMBERSHIP PROSPECTS, OPERATIONAL TRAINING AND DAY-TO-DAY SUPPORT TO ENSURE THE HEALTH AND GROWTH OF THE ORGANIZATION.
TECHNICAL COMMITTEE MEMBERS LED THE ASSOCIATION'S ADVOCACY EFFORTS WITH 33 MEETINGS IN THE FISCAL YEAR, OFFERING TECHNICAL ADVICE, COMMENTARY AND POLICY RECOMMENDATIONS ON LEGISLATION, REGULATORY PROPOSALS AND ACCOUNTING STANDARDS UPDATES.
THE ASSOCIATION CONDUCTED 15 CHAPTER LEADERSHIP EVENTS, WHICH INCLUDES NEW LEADER ONBOARDING CALLS, POSITION-SPECIFIC LEADERSHIP BOARD ORIENTATION CALLS, CHAPTER LEADER AND ADMINISTRATIVE WORKSHOPS AND AN IN-PERSON CHAPTER AND ADMINISTRATOR WORKSHOP AT THE ANNUAL FINANCIAL LEADERSHIP SUMMIT, ALL TO STRENGTHEN AND DEVELOP CHAPTER LEADERSHIP.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Andrej Suskavcevic Cae President & CEO | OfficerTrustee | 53 | $524,498 |
Liliana Devita Vice President & COO | Officer | 53 | $210,231 |
Maria O'grady Vice President & CFO | Officer | 45 | $177,155 |
Christopher Westfall Vice President, Content | 45 | $164,613 | |
Brian Cove Managing Director, Technical A | 45 | $143,021 | |
Lorna Raagas Director, Finance And Administ | 45 | $120,123 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ernst Young Llp Accounting Fellow | 6/29/23 | $140,833 |
Bgt Recruiting Consulting Inc Chapter Admin Svces | 6/29/23 | $103,953 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $2,457,529 |
| Investment income | $97,421 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $3,863 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$2,623 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,565,530 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,218,791 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $88,826 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $277,187 |
| Payroll taxes | $0 |
| Fees for services: Management | $66,020 |
| Fees for services: Legal | $40,000 |
| Fees for services: Accounting | $34,515 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $447,516 |
| Advertising and promotion | $44,560 |
| Office expenses | $90,267 |
| Information technology | $136,837 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $97,839 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $528,485 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $55,864 |
| Insurance | $42,310 |
| All other expenses | $2,284 |
| Total functional expenses | $3,236,949 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $414,726 |
| Savings and temporary cash investments | $613,916 |
| Pledges and grants receivable | $189,300 |
| Accounts receivable, net | $33,907 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $91,585 |
| Net Land, buildings, and equipment | $79,428 |
| Investments—publicly traded securities | $3,235,653 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $281,500 |
| Total assets | $4,940,015 |
| Accounts payable and accrued expenses | $1,920,944 |
| Grants payable | $0 |
| Deferred revenue | $733,910 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $488,349 |
| Total liabilities | $3,143,203 |
| Net assets without donor restrictions | $1,796,812 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $4,940,015 |