Financial Technology Association
- Assets
- $1.9m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 1
- Location
- Alexandria, VA
- Founding
- Data as of
- 12/2021
- EIN
- 85-3790227
Organization Overview
Financial Technology Association is located in Alexandria, VA. 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. Financial Technology 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
EDUCATE CONSUMERS, REGULATORS, POLICYMAKERS AND INDUSTRY STAKEHOLDERS ON THE VALUE OF TECHNOLOGY-CENTERED FINANCIAL SERVICES AND ADVOCATE FOR MODERNIZATION OF FINANCIAL REGULATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FTA EDUCATED AND INFORMED POLICY-MAKERS AND THE PUBLIC ON ISSUES RELATED TO TECHNOLOGY-CENTERED FINANCIAL SERVICES. IT ACCOMPLISHED THIS THROUGH DRAFTING A COMPREHENSIVE WHITE PAPER, COMMENT LETTERS, PRESS RELEASES, MEDIA RELATIONS, ENGAGING POLICYMAKERS, ATTENDING CONFERENCES, SPEAKING ON PANELS, AND GROWING MEMBERSHIP.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Penny Lee Ceo/president | OfficerTrustee | 50 | $193,178 |
Ashley Harris Vice Chair | OfficerTrustee | 1 | $0 |
Bruce Johnson Chair | OfficerTrustee | 1 | $0 |
Damier Xandrine Secretary/treasurer | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Fti Consulting Consulting | 12/30/21 | $105,060 |
Gattaca Horizons Consulting | 12/30/21 | $242,185 |
Tiger Hill Partners Llc Consulting | 12/30/21 | $176,350 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,247,500 |
| 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 | $1,247,500 |
| 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 | $1,247,500 |
| 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. | $193,178 |
| Compensation of current officers, directors, key employees. | $38,636 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $3,716 |
| Payroll taxes | $11,897 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $17,150 |
| Fees for services: Accounting | $13,689 |
| Fees for services: Lobbying | $216,250 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $335,959 |
| Advertising and promotion | $7,644 |
| Office expenses | $3,837 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $918 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $235 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $797 |
| Total functional expenses | $805,270 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,525,016 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $345,000 |
| 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 | $2,792 |
| 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 | $1,872,808 |
| Accounts payable and accrued expenses | $31,089 |
| Grants payable | $0 |
| Deferred revenue | $1,350,000 |
| 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 | $1,381,089 |
| Net assets without donor restrictions | $491,719 |
| 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 | $1,872,808 |
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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 |
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National Retail Federation Inc Washington, DC | $44,909,805 | $48,694,616 |
American Psychiatric Association Washington, DC | $179,554,491 | $53,525,834 |
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