Financial Communications Society
- Assets
- $703.2k
- Revenue
- $366.6k
- Investments
- $0.0
- Employees
- 2
- Location
- Westfield, NJ
- Founding
- 06/1991
- Data as of
- 08/2021
- EIN
- 13-3599761
Organization Overview
Financial Communications Society is located in Westfield, NJ. The organization was established in 1991. 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 08/2021, Financial Communications Society employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Financial Communications Society is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 08/2021, Financial Communications Society generated $366.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (17.4%) each year. All expenses for the organization totaled $406.9k during the year ending 08/2021. As we would expect to see with falling revenues, expenses have declined by (17.1%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Financial Communications Society has awarded 23 individual grants totaling $557,408. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE PROGRAMS TO INFORM, EDUCATE AND INSPIRE PROFESSIONALS IN THE FINANCIAL COMMUNICATIONS MARKET.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEMBER EVENTS, INFORMATION AND FORUMS - THE ORGANIZATION HELD 54 EVENTS TO PROVIDE INFORMATION REGARDING FINANCIAL COMMUNICATIONS POLICIES AND PRACTICES. THIS WAS ATTENDED BY 3,227 PARTICIPANTS DURING BREAKFASTS, LUNCHES, DINNERS AND OTHER EVENTS, INCLUDING VIRTUAL EVENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kevin Windorf Chief Executive Officer | Officer | 40 | $126,467 |
Tim Hart Chair | OfficerTrustee | 3 | $0 |
Tom Jago Vice Chair | OfficerTrustee | 3 | $0 |
Katherine Divney Secretary | OfficerTrustee | 3 | $0 |
Abiy Bekele Director | Trustee | 1 | $0 |
Ahmed Yearwood Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Core Z Operations Llc Event Venue Services | 8/30/20 | $141,584 |
Mckeon Productions Event Production Services | 8/30/20 | $113,900 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $42,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $325 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $42,325 |
| Total Program Service Revenue | $324,228 |
| Investment income | $15 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $366,568 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $33,000 |
| 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. | $168,301 |
| Compensation of current officers, directors, key employees. | $16,830 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $54,181 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $5,928 |
| Payroll taxes | $17,505 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $680 |
| Fees for services: Accounting | $7,575 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $7,317 |
| Office expenses | $7,837 |
| Information technology | $16,063 |
| Royalties | $0 |
| Occupancy | $500 |
| Travel | $68 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $406,858 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $373,098 |
| Savings and temporary cash investments | $74,927 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $95,425 |
| 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 | $159,729 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $703,179 |
| Accounts payable and accrued expenses | $2,235 |
| Grants payable | $0 |
| Deferred revenue | $326,205 |
| 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 | $0 |
| Total liabilities | $328,440 |
| Net assets without donor restrictions | $374,739 |
| 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 | $703,179 |
Grants Awarded
Over the last fiscal year, Financial Communications Society has awarded $59,562 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
New York, NY PURPOSE: PROGRAM SUPPORT | $27,690 |
Yonkers, NY PURPOSE: PROGRAM SUPPORT | $20,677 |
New York, NY PURPOSE: PROGRAM SUPPORT | $11,195 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Nysa-Ila Container Royalty Fund Jersey City, NJ | $55,480,172 | $104,394,382 |
Unsatisfied Claims & Judgement Fund Basking Ridge, NJ | $69,007,782 | $67,404,449 |
Gs1 Us Inc Ewing, NJ | $478,037,755 | $93,863,501 |
International Swaps And Derivatives Association Inc New York, NY | $118,665,756 | $65,806,525 |
Association Of National Advertisers Inc New York, NY | $38,717,598 | $50,547,394 |
Global Associations Of Risk Proffesionals Inc Jersey City, NJ | $66,882,119 | $55,059,565 |
Natural Diamond Council Usa Inc New York, NY | $2,361,726 | $45,450,043 |
Better Health For Northeast New York Inc Albany, NY | $1,699,036 | $0 |
Hamaspik Of Orange County Inc Monroe, NY | $56,250,916 | $69,931,985 |
International Council Of Shopping Centers Inc New York, NY | $167,282,013 | $15,292,706 |
Housing Works Inc Brooklyn, NY | $30,231,683 | $31,989,444 |
Workers Compensation Security Fund Basking Ridge, NJ | $229,766,675 | $28,644,741 |