Financial Planning Association
- Assets
- $39.4k
- Revenue
- $123.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Oak Forest, IL
- Founding
- 09/2000
- Data as of
- 12/2021
- EIN
- 36-4412075
Organization Overview
Financial Planning Association is located in Oak Forest, IL. The organization was established in 2000. According to its NTEE Classification (P03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Human Services and related organizations. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Financial Planning Association 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 Planning Association generated $123.2k 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 (10.1%) each year. All expenses for the organization totaled $112.5k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (12.3%) 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
SERVICE TO THE NEEDS OF THE ORGANIZATIONS MEMBERS AND THE PROGRAMS AND SERVICES TO MEMBERS INCLUDING BUT NOT LIMITED TO EDUCATIONAL CLASSES & SEMINARS, REGULAR MEMBERSHIP MEETINGS, LOCAL & STATE GOVERNMENTAL AFFAIRS, PUBLIC RELATIONS AND PUBLIC AFFAIRS
Describe the Organization's Program Activity:
Part 3 - Line 4a
ALL EDUCATION WAS VIRTUAL IN 2021.HELD 12 MEETINGS COVERING INFORMATIONALTOPICS THAT MEMBERS NEED TO KEEP CURRENT ON AND USE IN PROVIDING FINANCIAL PLANNING SERVICES TO THE PUBLIC. MEMBERS EARN EDUCATIONAL CREDITS AS REQUIRED BY THE CFP BOARD OF STANDARDS.THE FALL CONFERENCE-CONFERENCE FOR ADVANCED PLANNING- A TOTAL OF 7.5 CFP/CE WERE AVAILABLE
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eric Billimoria Secretary Treasurer | OfficerTrustee | 5 | $0 |
Alex Offerman President | OfficerTrustee | 5 | $0 |
Paul Lechner Chairman | OfficerTrustee | 5 | $0 |
Theodore Yeo Director | Trustee | 5 | $0 |
Scot Dobbs Director | Trustee | 5 | $0 |
Siree Sandberg Bakakos Director | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $60,137 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $15,301 |
| 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 | $75,438 |
| Total Program Service Revenue | $47,233 |
| Investment income | $2 |
| 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 | $123,156 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $236 |
| Fees for services: Accounting | $1,680 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $1,046 |
| Information technology | $5,796 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $720 |
| 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 | $1,517 |
| Total functional expenses | $112,502 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $39,417 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| 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 | $39,417 |
| Accounts payable and accrued expenses | $384 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $384 |
| Net assets without donor restrictions | $38,110 |
| Net assets with donor restrictions | $923 |
| 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 | $39,417 |
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Financial Planning Association Indianapolis, IN | $62,356 | $0 |
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