For The Long Term
- Assets
- $1.2m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 2
- Location
- Washington, DC
- Founding
- Data as of
- 12/2022
- EIN
- 85-3008040
Organization Overview
For The Long Term is located in Washington, DC. According to its NTEE Classification (W22) the organization is classified as: Public Finance, Taxation & Monetary Policy, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2022, For The Long Term employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. For The Long Term is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, For The Long Term generated $1.5m in total revenue. All expenses for the organization totaled $515.0k during the year ending 12/2022. While expenses have increased by 75.9% per year over the past 2 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
SEE PART III, LINE 1.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PUBLIC TREASURERS ARE GOVERNMENT OFFICIALS WHO PROVIDE PROFESSIONAL FINANCIAL MANAGEMENT AND ACCOUNTABILITY FOR A VARIETY OF PUBLIC FUNDS.THERE ARE A GROWING NUMBER OF 501(C)(3) ORGANIZATIONS WORKING TO HELP TRAIN AND ENCOURAGE PUBLIC TREASURERS TO LEVERAGE THEIR POWER AS OWNERS, ISSUERS, FIDUCIARIES, AND CUSTOMERS TO INVEST IN WAYS THAT IMPROVE ENVIRONMENTAL AND SOCIAL OUTCOMES FOR THE PUBLIC. HOWEVER, EXISTING 501(C)(3) ORGANIZATIONS HAVE FACED CHALLENGES WORKING WITH THE PUBLIC TREASURERS WHO SERVE AS FIDUCIARIES OF PUBLIC SECTOR INSTITUTIONS AND FUNDS. FIRST, PUBLIC TREASURERS OPERATE WITHIN A BUREAUCRACY AND CANNOT REACT AS QUICKLY AND NEED A MORE PROACTIVE FRAME IN WHICH TO ENGAGE. SECOND, PUBLIC (CONTINUED ON SCHEDULE O)TREASURERS ENTER AND LEAVE THEIR ROLES WITH GREATER FREQUENCY DUE TO RESTRICTIONS SUCH AS TERM LIMITS.PUBLIC TREASURERS ALSO OFTEN ENTER GOVERNMENT WITH A LEARNING CURVE ABOUT THEIR RIGHTS AS AN OWNER AND THEIR RESPONSIBILITIES AS A PUBLIC FIDUCIARY, AND STATE AND LOCAL GOVERNMENTS OFTEN LACK ADEQUATE RESOURCES AND TOOLS NECESSARY TO FULL TRAIN AND ONBOARD THESE TREASURERS. NONPROFIT ORGANIZATIONS HAVE A VITAL ROLE TO PLAY IN HELPING TO EDUCATE PUBLIC TREASURERS, WHICH FREES UP CRITICAL STATE AND LOCAL GOVERNMENTAL RESOURCES FOR CORE GOVERNMENTAL FUNCTIONS. TREASURERS ALSO NEED OUTSIDE GUIDANCE TO HELP THEM LEARN ABOUT THE NONPROFIT SUPPORT THAT IS AVAILABLE TO HELP THEM ACCELERATE THEIR DEVELOPMENT AS OWNERS AND FIDUCIARIES SO THAT THEY MAY ULTIMATELY LEVERAGE THEIR POWER AS OWNERS, ISSUERS, AND FIDUCIARIES TO BEST REPRESENT THE PUBLIC INTEREST.FTLT HAS HAS BEEN FORMED TO FILL THE CRITICAL NEED FOR A 501(C)(3) ORGANIZATION THAT SUPPORTS PUBLIC TREASURERS IN MANAGING THE UNIQUE CHALLENGES THEY FACE IN INTERFACING WITH NONPROFIT ORGANIZATIONS, FOR THE BENEFIT OF THE MEMBERS OF THE PUBLIC WHO BENEFIT FROM THE PUBLIC FUNDS THAT TREASURERS ARE CHARGED WITH OVERSEEING.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Wallack President / Executive Director | OfficerTrustee | 40 | $153,333 |
Janet Cowell Treasurer | OfficerTrustee | 4 | $0 |
Nancy Kopp Director | Trustee | 4 | $0 |
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 | $1,498,250 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,498,250 |
| Total Program Service Revenue | $0 |
| 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 | $1,498,250 |
| 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. | $153,333 |
| Compensation of current officers, directors, key employees. | $27,504 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $60,001 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $16,446 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,376 |
| Fees for services: Accounting | $7,550 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $96,100 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $133,936 |
| Advertising and promotion | $0 |
| Office expenses | $2,000 |
| Information technology | $1,839 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $40,156 |
| 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 | $1,262 |
| Total functional expenses | $514,999 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,158,846 |
| 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 | $1,158,846 |
| Accounts payable and accrued expenses | $47,112 |
| 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 | $47,112 |
| Net assets without donor restrictions | $1,111,734 |
| 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 | $1,158,846 |