Financial Planning Association
- Assets
- $306.2k
- Revenue
- $228.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Columbia Heights, MN
- Founding
- 09/2000
- Data as of
- 12/2022
- EIN
- 41-1957604
Organization Overview
Financial Planning Association is located in Columbia Heights, MN. 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 12/2022, Financial Planning Association generated $228.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (14.0%) each year. All expenses for the organization totaled $339.1k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (8.3%) per year over the past 4 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE MEMBERSHIP EDUCATION, MEETINGS, AND ANNUAL CONFERENCE COVERING INFORMATIONAL TOPICS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HELD 10 VIRTUAL EDUCATIONAL MEETINGS COVERING INFORMATIONAL TOPICS THAT MEMBERS NEED TO KEEP CURRENT ON AND THAT ARE USED IN PROVIDING FINANCIAL PLANNING SERVICES TO THE PUBLIC. MEMBERS EARN EDUCATIONAL CREDITS AS REQUIRED BY THE CFP BOARD OF STANDARDS, THE STATE OF MINNESOTA, THE STATE OF WISCONSIN, THE MINNESOTA BOARD OF CONTINUING LEGAL EDUCATION, THE NATIONAL ASSOCIATION OF THE STATE BOARD OF ACCOUNTANCY, AND THE INVESTMENT MANAGEMENT CONSULTANTS ASSOCIATION. UP TO TWO CONTINUING EDUCATION UNITS PER MEETING.
HELD A GOLF OUTING FOR THE INDUSTRY AND PROVIDED SCHOLARSHIPS FOR STUDENTS CONTINUING EDUCATION TO ATTAIN THE CERTIFIED FINANCIAL PLANNER DESIGNATION.
HELD AN ANNUAL CONFERENCE FOR THE FINANCIAL PLANNING INDUSTRY AND MEMBERS TO LEARN ABOUT FINANCIAL PLANNING ISSUES AND EARN EDUCATIONAL CREDITS AS REQUIRED BY THE CFP BOARD OF STANDARDS, THE STATE OF MINNESOTA, THE STATE OF WISCONSIN, THE NATIONAL ASSOCIATION OF STATE BOARD OF ACCOUNTANCY, THE INVESTMENT MANAGEMENT CONSULTANTS ASSOCIATION, AND MINNESOTA BOARD OF CONTINUING LEGAL EDUCATION. UP TO 15 CONTINUING EDUCATION UNITS. IN 2022, THE ANNUAL CONFERENCE WAS IN-PERSON WITH 185 MEMBERS AND 205 NONMEMBERS ATTENDING.
HELD SPECIAL EVENTS ONLINE FOR CONSUMERS, FINANCIAL PLANNING INDUSTRY AND MEMBERS TO LEARN ABOUT FINANCIAL PLANNING ISSUES, INCLUDING FOCUS ON EDUCATING CONSUMERS ABOUT FINANCIAL PLANNING AS WELL A STUDENTS AND CAREER CHANGERS WITH SCHOLARSHIPS PROVIDED FOR THEIR CONTINUED EDUCATION TO ATTAIN THE CERTIFIED FINANCIAL PLANNER DESIGNATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jessica Hawthorne Executive Di | Officer | 40 | $0 |
Ryan Antkowiak Chairperson | OfficerTrustee | 2 | $0 |
Peter Snow President | OfficerTrustee | 2 | $0 |
Mark Brice Secretary/tr | OfficerTrustee | 2 | $0 |
Nick Gearhart Director | Trustee | 2 | $0 |
Lory Wessel Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $61,894 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $187,295 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $249,189 |
| Total Program Service Revenue | $44,308 |
| Investment income | $7,981 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$72,562 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $228,916 |
| 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 | $177,809 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| 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 | $2,112 |
| Information technology | $7,246 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $15,550 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $689 |
| All other expenses | $26,075 |
| Total functional expenses | $339,084 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $293,782 |
| Savings and temporary cash investments | $3,191 |
| 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 | $9,200 |
| Total assets | $306,173 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $33,688 |
| 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 | $33,688 |
| Net assets without donor restrictions | $272,485 |
| 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 | $306,173 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Howard County Child Care Association Cresco, IA | $1,238,191 | $1,073,125 |
Financial Planning Association Columbia Heights, MN | $306,173 | $228,916 |
Financial Planning Association Waunakee, WI | $69,613 | $0 |
Ncpets Inc Woodbury, MN | $41,457 | $0 |
Minnesota Division Saint Paul, MN | $297,104 | $116,241 |
Community Action For Veterans Sioux Falls, SD | $24,258 | $0 |
Society Of Financial Service Professionals Saint Paul, MN | $0 | $0 |
Kirkoland Inc De Pere, WI | $22,300 | $0 |
Lord Of All Nations Inc Rosholt, SD | $73,789 | $0 |