Community Financial Services Association
- Assets
- $580.8k
- Revenue
- $965.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Alexandria, VA
- Founding
- 11/2000
- Data as of
- 12/2021
- EIN
- 52-2156601
Organization Overview
Community Financial Services Association is located in Alexandria, VA. The organization was established in 2000. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Community Financial Services 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, Community Financial Services Association generated $965.0k 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 (25.5%) each year. All expenses for the organization totaled $814.0k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (28.2%) 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
TO SUPPORT THE LEGAL ACTIVITIES AND LITIGATION EFFORTS OF ITS MEMBERS AND THE SMALL-DOLLAR LENDING INDUSTRY AND TO PROMOTE LAWS AND REGULATIONS CONTINUED ON SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
FEDERAL AFFAIRS AND STATE AFFAIRS - CFSA MONITORS REGULATORY ISSUES AFFECTING THE DEFERRED DEPOSIT INDUSTRY, DEVELOPS STRATEGIES TO ADVANCE REGULATIONS AND POLICIES AND PROVIDES A LINK BETWEEN THE INDUSTRY AND REGULATORY DECISION MAKERS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jessica Rustin President | OfficerTrustee | 1 | $0 |
Andrea Andre Vice President | OfficerTrustee | 1 | $0 |
Cullen Earnest Secretary/treasurer | OfficerTrustee | 1 | $0 |
Mike Hodges Director | Trustee | 1 | $0 |
Ian A Mackechnie Director | Trustee | 1 | $0 |
Kirk Chartier Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cls Strategies Public Relation Consulting | 12/30/20 | $211,948 |
Jones Day Legal Fees | 12/30/20 | $377,019 |
Gray Robinson Consulting | 12/30/20 | $142,385 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| 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 | $0 |
| Total Program Service Revenue | $965,000 |
| Investment income | $0 |
| 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 | $965,000 |
| 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 | $30,000 |
| Fees for services: Legal | $751,150 |
| Fees for services: Accounting | $2,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $17,500 |
| Advertising and promotion | $0 |
| Office expenses | $3,189 |
| Information technology | $1,387 |
| 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 | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $8,304 |
| All other expenses | $0 |
| Total functional expenses | $814,030 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $84,795 |
| Savings and temporary cash investments | $10,388 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $483,409 |
| 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 | $2,257 |
| 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 | $580,849 |
| Accounts payable and accrued expenses | $140,183 |
| Grants payable | $0 |
| Deferred revenue | $82,990 |
| 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 | $223,173 |
| Net assets without donor restrictions | $357,676 |
| 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 | $580,849 |
Grants Awarded
Over the last fiscal year, Community Financial Services Association has awarded $81,250 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Washington, DC PURPOSE: GENERAL SUPPORT | $56,250 |
SOUTHERN CHRISTIAN LEADERSHIP CONF PURPOSE: ANNUAL SPONSORSHIP | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
National Restaurant Association Washington, DC | $192,667,812 | $96,146,955 |
American Association Of State Highway & Transportation Officials Washington, DC | $177,160,624 | $97,013,353 |
National Federation Of Independent Business Inc Nashville, TN | $77,203,691 | $109,079,617 |
American Beverage Association Washington, DC | $114,967,236 | $101,585,081 |
Credit Union National Association Inc Washington, DC | $67,388,582 | $69,543,852 |
Edison Electric Institute Washington, DC | $198,917,565 | $81,084,181 |
Investment Company Institute Washington, DC | $76,230,571 | $72,478,404 |
Packaging Machinery Manufacturers Institute Inc Herndon, VA | $71,869,344 | $62,733,082 |
Consumer Technology Association Arlington, VA | $357,760,838 | $25,474,279 |
National Retail Federation Inc Washington, DC | $44,909,805 | $48,694,616 |
American Psychiatric Association Washington, DC | $179,554,491 | $53,525,834 |
Srcco Inc Durham, NC | $42,497,453 | $49,465,239 |