Financial Managers Society Inc
- Assets
- $902.2k
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 4
- Location
- Chicago, IL
- Founding
- 04/1967
- Data as of
- 12/2021
- EIN
- 36-2602578
Organization Overview
Financial Managers Society Inc is located in Chicago, IL. The organization was established in 1967. According to its NTEE Classification (H99) the organization is classified as: Medical Research N.E.C., under the broad grouping of Medical Research and related organizations. As of 12/2021, Financial Managers Society Inc employed 4 individuals. This organization is the central organization for a national or regional group of organizations. Financial Managers Society Inc 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 12/2021, Financial Managers Society Inc generated $1.5m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (5.4%) each year. All expenses for the organization totaled $775.2k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (14.5%) per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTE HIGH STANDARDS OF FINANCIAL MANAGEMENT & FURTHER PROFESSIONAL DEVELOPMENT OF MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE SOCIETY CONDUCTS AN ANNUAL FINANCE AND ACCOUNTING FORUM WHICH ATTRACTS 150-200 PEOPLE FOR OVER 21 SESSIONS OF EDUCATIONAL PROGRAMMING AND A BUSINESS TRADE SHOW CONSISTING OF 11 EXHIBITOR BOOTHS IN 2021. THE PROGRAM OFFERS SPECIFIC EDUCATIONAL SESSIONS FOR ALL THE MAJOR SEGMENTS OF THE FMS MEMBERSHIP: CFOS, CONTROLLERS, RISK MANAGERS AND INTERNAL AUDITORS, TREASURERS AND INVESTMENT OFFICERS, AND CEOS.
THE SOCIETY YEARLY OFFERS 19 TWO-DAY SEMINARS/WORKSHOPS ON TOPICS OF IMPORT TO VARIOUS SEGMENTS OF THE MEMBERSHIP. DESIGNED AS INTENSE, COMPREHENSIVE EDUCATIONAL SESSIONS, THE PROGRAMS ARE CPE RICH, AND WITH TYPICALLY ONLY ONE TO TWO PRESENTERS, HIGHLY INTERACTIVE, PRACTICAL, AND HANDS ON. INCLUDED IN THE SEMINAR LINEUP IS A FIVE DAY FINANCIAL MANAGERS SCHOOL AT A CONTINUING EDUCATION CENTER IN WISCONSIN WHICH IMMERSES PARTICIPANTS IN THE ART OF ASSET/LIABILITY MANAGEMENT WITHIN FINANCIAL INSTITUTIONS.
COMPLEMENTING ITS SERIES OF SEMINARS AND WORKSHOPS, THE SOCIETY ALSO OFFERS APPROXIMATELY TWENTY-FIVE 60 MINUTE WEBINARS ON TOPICS OF INTEREST TO THE MEMBERSHIP.
THE SOCIETY HOSTS AN ANNUAL CONFERENCE OFFERING INTENSIVE TECHNICAL SESSIONS AND THE OPPORTUNITY FOR MEMBERS TO SHARE IDEAS AND CONCERNS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alana Vartanian President And CEO | Officer | 40 | $170,016 |
Scott Baranowski Vice Chairman | OfficerTrustee | 1 | $0 |
Marianne Cacciola Chairman | OfficerTrustee | 1 | $0 |
Dustin A Cuttriss CPA Treasurer | OfficerTrustee | 1 | $0 |
John A Carrozza Immediate Past Chairman | OfficerTrustee | 1 | $0 |
Terry Bishop Director At Large | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $92,332 |
| 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 | $92,332 |
| Total Program Service Revenue | $1,353,812 |
| Investment income | $761 |
| 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 | $1,479,772 |
| 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. | $181,419 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $162,001 |
| Pension plan accruals and contributions | $5,589 |
| Other employee benefits | $12,164 |
| Payroll taxes | $22,473 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,202 |
| Fees for services: Accounting | $33,783 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $11,094 |
| Advertising and promotion | $13,443 |
| Office expenses | $75,965 |
| Information technology | $57,833 |
| Royalties | $0 |
| Occupancy | $38,731 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $138,169 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,299 |
| Insurance | $10,505 |
| All other expenses | $3,549 |
| Total functional expenses | $775,219 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $497,390 |
| Savings and temporary cash investments | $350,513 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $40,963 |
| Net Land, buildings, and equipment | $13,379 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $902,245 |
| Accounts payable and accrued expenses | $26,730 |
| Grants payable | $0 |
| Deferred revenue | $634,904 |
| 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 | $36,826 |
| Other liabilities | $0 |
| Total liabilities | $698,460 |
| Net assets without donor restrictions | $203,785 |
| 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 | $902,245 |
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