Government Finance Officers Assn Of The United States & Canada
- Assets
- $17.5m
- Revenue
- $16.1m
- Investments
- $2.5m
- Employees
- 71
- Location
- Chicago, IL
- Founding
- 07/1942
- Data as of
- 03/2021
- EIN
- 36-2167796
Organization Overview
Government Finance Officers Assn Of The United States & Canada is located in Chicago, IL. The organization was established in 1942. According to its NTEE Classification (W22) the organization is classified as: Public Finance, Taxation & Monetary Policy, under the broad grouping of Public & Societal Benefit and related organizations. As of 03/2022, Government Finance Officers Assn Of The United States & Canada employed 71 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Government Finance Officers Assn Of The United States & Canada 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 03/2021, Government Finance Officers Assn Of The United States & Canada generated $16.1m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.3% each year. All expenses for the organization totaled $14.8m during the year ending 03/2021. While expenses have increased by 2.2% per year over the past 6 years. They've been increasing with an increasing level of total revenue. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE PURPOSE OF THE GOVERNMENT FINANCE OFFICERS ASSOCIATION ("GFOA") IS TO ADVANCE EXCELLENCE IN STATE AND LOCAL GOVERNMENT FINANCIAL MANAGEMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
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 22,100 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.
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. 6,784 SUBMISSIONS WERE REVIEWED AND 6,690 WERE AWARDED TO GOVERNMENTS.
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. 133 TRAINING SEMINARS WERE HELD WITH ATTENDANCE OF 36,312 PARTICIPANTS, INCLUDING GFOA'S ANNUAL CONFERENCE.
THE FEDERAL LIAISON CENTER MONITORS THE ACTIVITIES OF THE EXECUTIVE, LEGISLATIVE, AND JUDICIAL BRANCHES OF THE FEDERAL GOVERNMENT, INFORMS MEMBERSHIP OF SUCH ACTIVITIES AND THEIR IMPACT ON STATE AND LOCAL GOVERNMENTS; OVERSEES DEVELOPMENT OF ASSOCIATION POLICIES. GOVERNMENT FINANCE REVIEW MAGAZINE, GFOA NEWSLETTER, GAAFR REVIEW NEWSLETTER. TECHNICAL SERVICES, STATE/PROVINCIAL AND INTERNATIONAL RELATIONS, EXECUTIVE BOARD, SCHOLARSHIPS,AWARDS FOR EXCELLENCE, CERTIFICATION PROGRAM, YIELD ADVANTAGE, MEMBERSHIP DUES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christopher P Morrill Executive Director, CEO | Officer | 40 | $394,268 |
Michele M Levine Director, Technical Services Center | 40 | $345,586 | |
Michael Mucha Director, Research & Consulting | Officer | 40 | $307,991 |
John F Jurkash CFO (until 10/29/21) | Officer | 40 | $288,533 |
Barbara G Mollo Director, Operations & Marketing | Officer | 40 | $270,698 |
Emily Brock Director, Federal Liaison | 40 | $229,245 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Resourcex Consulting | 3/30/22 | $443,200 |
Hr&a Advisors Consulting | 3/30/22 | $266,000 |
Right Angle Studio Publication Design And Production | 3/30/22 | $216,519 |
Vokal Llc Website Design And Implementation | 3/30/22 | $226,688 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $479,067 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $243,490 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $722,557 |
| Total Program Service Revenue | $13,678,329 |
| Investment income | $1,235,918 |
| 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 | $348,400 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $16,113,424 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $10,000 |
| Grants and other assistance to domestic individuals. | $101,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,697,807 |
| Compensation of current officers, directors, key employees. | $469,023 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,126,867 |
| Pension plan accruals and contributions | $757,959 |
| Other employee benefits | $814,668 |
| Payroll taxes | $484,479 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $16,435 |
| Fees for services: Accounting | $34,319 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $10,000 |
| Fees for services: Other | $1,218,073 |
| Advertising and promotion | $2,418 |
| Office expenses | $773,032 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,552,238 |
| Travel | $47,187 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $326,494 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $379,321 |
| Insurance | $135,231 |
| All other expenses | $62,150 |
| Total functional expenses | $14,791,361 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $569,743 |
| Savings and temporary cash investments | $261,231 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,631,631 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $380,159 |
| Prepaid expenses and deferred charges | $387,287 |
| Net Land, buildings, and equipment | $746,619 |
| Investments—publicly traded securities | $10,371,770 |
| Investments—other securities | $2,481,757 |
| Investments—program-related | $0 |
| Intangible assets | $628,305 |
| Other assets | $18,703 |
| Total assets | $17,477,205 |
| Accounts payable and accrued expenses | $3,508,928 |
| Grants payable | $0 |
| Deferred revenue | $5,522,482 |
| 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 | $1,190,870 |
| Total liabilities | $10,222,280 |
| Net assets without donor restrictions | $7,035,859 |
| Net assets with donor restrictions | $219,066 |
| 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 | $17,477,205 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Government Finance Officers Assn Of The United States & Canada has recieved totaling $949,000.
| Awarding Organization | Amount |
|---|---|
Bloomberg Family Foundation Inc New York, NY PURPOSE: CITY DATA ALLIANCE | $949,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Government Finance Officers Assn Of The United States & Canada Chicago, IL | $17,477,205 | $16,113,424 |
Wisconsin Policy Forum Inc Milwaukee, WI | $8,085,862 | $1,834,304 |
Truth In Accounting Glencoe, IL | $201,511 | $951,588 |
Wirepoints Corp Wilmette, IL | $737,878 | $709,315 |
Gfoa Endowment Corporation Chicago, IL | $33,873,362 | $530,527 |
John K Maciver Institute For Public Policy Inc Madison, WI | $395,001 | $497,700 |
Iowa Taxpayers Association Des Moines, IA | $404,736 | $328,664 |
Pharmacy Agent Corporation Jefferson City, MO | $27,152,130 | $686,100 |
United For Missouris Future Jefferson City, MO | $24,232 | $0 |
Indiana Fiscal Policy Institute Inc Indianapolis, IN | $73,364 | $42,146 |
National Taxpayers United Of Illinois Chicago, IL | $8,908 | $0 |
Taxpayers Association Of Central Iowa Des Moines, IA | $101,183 | $0 |