American Finanical Services Association
- Assets
- $18.2m
- Revenue
- $12.0m
- Investments
- $0.0
- Employees
- 30
- Location
- Washington, DC
- Founding
- 11/1957
- Data as of
- 12/2022
- EIN
- 53-0025360
Organization Overview
American Finanical Services Association is located in Washington, DC. The organization was established in 1957. According to its NTEE Classification (J40) the organization is classified as: Labor Unions, under the broad grouping of Employment and related organizations. As of 12/2022, American Finanical Services Association employed 30 individuals. This organization is the central organization for a national or regional group of organizations. American Finanical 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 12/2022, American Finanical Services Association generated $12.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.3% each year. All expenses for the organization totaled $11.5m during the year ending 12/2022. While expenses have increased by 3.2% per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE INFORMATION TO THE CONSUMER CREDIT INDUSTRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ANNUAL MEETINGS AND CONFERENCES - AFSA HOLDS AN ANNUAL MEETING AND SEVERAL CONFERENCES EACH YEAR. THE PROGRAMS ADDRESS ISSUES OF IMPORTANCE TO THE FINANCIAL SERVICES INDUSTRY.
AFSA UNIVERSITY IS A WEB-BASED COMPLIANCE TRAINING PROGRAM OFFERING MORE THAN 260 COURSES ON KEY FEDERAL FINANCIAL SERVICES LAWS AND REGULATIONS. THE COURSES ARE TAILORED FOR BOTH BANKS AND NONBANKSACCORDING TO VARIOUS JOB FUNCTIONS AND LINES OF BUSINESS.
PUBLICATIONS AND VIDEOS - AFSA PUBLISHES VARIOUS NEWSLETTERS AND A VARIETY OF PAMPHLET BOOKLETS, AND INFORMATIONAL VIDEOS. THESE PUBLICATIONS AND VIDEOS COVER IN DEPTH INFORMATION ON ISSUES OF IMPORTANCE TO THE CONSUMER CREDIT INDUSTRY AND TO THE GENERAL PUBLIC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Drotman Immediate Past Chair | OfficerTrustee | 0.5 | $0 |
Daniel M Chait Director | Trustee | 0.5 | $0 |
Martin E Less Chair | OfficerTrustee | 0.5 | $0 |
Tom Hudgins Director | Trustee | 0.5 | $0 |
Ofer Alon Director | Trustee | 0.5 | $0 |
Nathan D Benson Director | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Fis Regulatory Program | 12/30/22 | $312,272 |
Leonine Public Affairs Communication Services | 12/30/22 | $207,500 |
Jenkins Hill Consulting Lobbying Services | 12/30/22 | $143,502 |
Thorn Run Llc Lobbying Services | 12/30/22 | $135,943 |
Dci Group Communication Services | 12/30/22 | $136,842 |
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 | $278,812 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $278,812 |
| Total Program Service Revenue | $11,317,590 |
| Investment income | $471,213 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$221,303 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,972,355 |
| 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. | $3,160,568 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,173,260 |
| Pension plan accruals and contributions | $238,010 |
| Other employee benefits | $330,402 |
| Payroll taxes | $270,450 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $79,910 |
| Fees for services: Accounting | $30,240 |
| Fees for services: Lobbying | $733,856 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $39,255 |
| Fees for services: Other | $691,380 |
| Advertising and promotion | $0 |
| Office expenses | $207,860 |
| Information technology | $300,386 |
| Royalties | $0 |
| Occupancy | $347,507 |
| Travel | $256,340 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,545,958 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $104,778 |
| Insurance | $66,971 |
| All other expenses | $165,696 |
| Total functional expenses | $11,541,275 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,061,286 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $179,766 |
| 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 | $365,054 |
| Net Land, buildings, and equipment | $219,629 |
| Investments—publicly traded securities | $14,926,438 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $450,286 |
| Total assets | $18,202,459 |
| Accounts payable and accrued expenses | $1,237,916 |
| Grants payable | $0 |
| Deferred revenue | $2,835,695 |
| 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 | $500,970 |
| Total liabilities | $4,574,581 |
| Net assets without donor restrictions | $13,627,878 |
| 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 | $18,202,459 |