Society Of Financial Service Professionals
- Assets
- $698.5k
- Revenue
- $2.2m
- Investments
- $0.0
- Employees
- 18
- Location
- Arlington, VA
- Founding
- 09/1950
- Data as of
- 09/2023
- EIN
- 23-1379056
Organization Overview
Society Of Financial Service Professionals is located in Arlington, VA. The organization was established in 1950. According to its NTEE Classification (P03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Human Services and related organizations. As of 09/2023, Society Of Financial Service Professionals employed 18 individuals. This organization is the central organization for a national or regional group of organizations. Society Of Financial Service Professionals 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 09/2023, Society Of Financial Service Professionals generated $2.2m 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 (5.3%) each year. All expenses for the organization totaled $2.2m during the year ending 09/2023. As we would expect to see with falling revenues, expenses have declined by (6.6%) 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
PROMOTE PROFESSIONALISM AMONG MEMBERS TO HELP THEM DELIVER THE HIGHEST LEVEL OF CLIENT SERVICE
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONTINUING EDUCATION: EDUCATION PROGRAMMING PROVIDED TO OUR OVER 3,900 MEMBERS AND OVER 400 NON-MEMBERS DESIGNED TO KEEP THEM CURRENT AND PROFICIENT IN THEIR ROLES WITHIN THE FINANCIAL SERVICES INDUSTRY.DURING FY20, THE WORLD HEALTH ORGANIZATION DECLARED THE SPREAD OF CORONAVIRUS DISEASE A WORLDWIDE PANDEMIC. IN FY23, EDUCATION PROGRAMMING PARTICIPATION AND FINANCIAL RESULTS HAVE NOT RECOVERED, AND, THEREFORE, CONTINUE TO BE NEGATIVELY IMPACTED.
JOURNAL: SCHOLARLY PUBLICATION PROVIDED TO OUR OVER 3,900 MEMBERS AND SOLD TO NON-MEMBERS. THE CONTENT CONTRIBUTES TO THE CONTINUING EDUCATION OF THE MEMBERS, TO THE ADVANCEMENT OF PROFESSIONALISM IN THE INDUSTRY AND TO THE ULTIMATE BENEFIT OF THE PUBLIC.
SECTIONS: SECTIONS ARE OUR OVER 3,900 MEMBERS LINK TO TARGETED INFORMATION FROM SOCIETY AND NETWORKING OPPORTUNITIES WITH OTHER SOCIETY MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ernesto J Guerriero CLU CHFC Immediate Past President; President | OfficerTrustee | 1 | $0 |
Jesse G Dogillo CFP CLU CHFC Aep President; President-Elect | OfficerTrustee | 1 | $0 |
Kathleen W Bilderback JD Llm Immediate Past President | OfficerTrustee | 1 | $0 |
Andrew J Rinn JD CFP CLU CHFC President-Elect; Secretary | OfficerTrustee | 1 | $0 |
Troy D Branch JD CLU CHFC Secretary; Director | OfficerTrustee | 1 | $0 |
Tabitha L Atwell JD Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $115,092 |
| 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 | $115,092 |
| Total Program Service Revenue | $1,710,509 |
| Investment income | $22,452 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $133,734 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $203,759 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,191,875 |
| 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. | $356,228 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,072,333 |
| Pension plan accruals and contributions | $32,826 |
| Other employee benefits | $60,658 |
| Payroll taxes | $98,971 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $25,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $3,660 |
| Fees for services: Other | $140,613 |
| Advertising and promotion | $11,901 |
| Office expenses | $115,870 |
| Information technology | $7,765 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $86,012 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $17,120 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $20,092 |
| Insurance | $34,681 |
| All other expenses | $0 |
| Total functional expenses | $2,181,898 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $161,114 |
| Savings and temporary cash investments | $56,738 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $58,272 |
| 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 | $31,804 |
| Net Land, buildings, and equipment | $20,917 |
| Investments—publicly traded securities | $336,256 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $33,384 |
| Total assets | $698,485 |
| Accounts payable and accrued expenses | $96,700 |
| Grants payable | $0 |
| Deferred revenue | $486,665 |
| 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 | $20,989 |
| Total liabilities | $604,354 |
| Net assets without donor restrictions | $94,131 |
| 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 | $698,485 |