MUTUAL FUND DIRECTORS FORUM

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2002

Legal Domicile

Phone

2025074488

Tax Period

2023-07-01 to 2024-06-30

MUTUAL FUND DIRECTORS FORUM, founded in 2002, is a community nonprofit in the Education sector that reported $3.1M in total revenue in fiscal year 2023. Expenses of $2.9M left a modest 8% surplus.

Mission

THE MUTUAL FUND DIRECTORS FORUM ENHANCES THE GOVERNANCE OF U.S. REGISTERED FUNDS BY EDUCATING INDEPENDENT DIRECTORS AND PROVIDING THEM WITH A VOICE IN KEY FEDERAL POLICY ISSUES.

Program Service Accomplishments

Program 1

Expenses: $2,507,141 Revenue: $2,912,953

MEMBER EDUCATION & SUPPORT - MFDF CONTINUED TO PROVIDE TAILORED EDUCATIONAL RESOURCES AND NETWORKING OPPORTUNITIES TO INDEPENDENT DIRECTORS OF REGISTERED FUNDS AND FUND CCOS. THESE OFFERINGS...

MEMBER EDUCATION & SUPPORT - MFDF CONTINUED TO PROVIDE TAILORED EDUCATIONAL RESOURCES AND NETWORKING OPPORTUNITIES TO INDEPENDENT DIRECTORS OF REGISTERED FUNDS AND FUND CCOS. THESE OFFERINGS, INCLUDING INTERACTIVE CONFERENCES, WEBINARS, WHITEPAPERS, AND WORKING GROUPS OF DIRECTORS, ARE DESIGNED TO ASSIST BOARDS IN FULFILLING THEIR FIDUCIARY DUTIES TO THE FUNDS THEY OVERSEE AND THE SHAREHOLDERS OF THOSE FUNDS. THE OPPORTUNITIES FOCUS ON PROVIDING INDEPENDENT DIRECTORS WITH THE INFORMATION AND NETWORKS TO BE EFFECTIVE BOTH WITH RESPECT TO THEIR FUNDAMENTAL RESPONSIBILITIES AS WELL AS INSIGHTS INTO REGULATORY CHANGES THAT IMPACT FUND BOARDROOMS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $2,912,953

Investment Income $192,575

Other Revenue $0

TOTAL REVENUE $3,105,528

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,753,503

Fundraising Expenses $0

Program Expenses $2,507,141

Other Expenses $1,104,497

TOTAL EXPENSES $2,858,000

Year-over-Year Comparison

	2023	2022	Change
Revenue	$3,105,528	$3,072,475	+0.0%
Expenses	$2,858,000	$2,239,669	+0.3%
Net Income	$247,528	$832,806	-0.7%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$821,345

Total Directors

$521,432

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ANGELA BROCK-KYLE	DIRECTOR	1.00	Director	$0	$0	$0
JANE CARLIN	DIRECTOR	1.00	Director	$0	$0	$0
KATHLEEN DENNIS	DIRECTOR	1.00	Director	$0	$0	$0
JOHN ENGLER RETIRED DEC 2023	DIRECTOR	1.00	Director	$0	$0	$0
SANJEEV HANDA	DIRECTOR	1.00	Director	$0	$0	$0
SIDNEY HARRIS	DIRECTOR	1.00	Director	$0	$0	$0
PETER GERALD MALONE	DIRECTOR	1.00	Director	$0	$0	$0
RON PARKER	DIRECTOR	1.00	Director	$0	$0	$0
MINDY POSOFF START OCT 2023	DIRECTOR	1.00	Director	$0	$0	$0
DINA TANTRA START MAR 2024	DIRECTOR	1.00	Director	$0	$0	$0
LLOYD WENNLUND START OCT 2023	DIRECTOR	1.00	Director	$0	$0	$0
ANDREW DONOHUE	CHAIR	1.00	Officer Director	$0	$0	$0
STEPHEN BYERS	TREASURER	1.00	Officer Director	$0	$0	$0
CAROLYN MCPHILLIPS	PRESIDENT	40.00	Officer Director	$486,811	$34,621	$521,432
DAVID B SMITH	EVP & SECRETARY	40.00	Officer	$281,092	$18,821	$299,913
SARA VARGO	COUNSEL	40.00	Highest	$253,336	$25,649	$278,985
YOUNG HEE KIM	CHIEF OF STAFF	40.00	Highest	$181,172	$31,784	$212,956

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	No data	No data	No data	No data
2024	$3,105,528	$2,858,000	$8,093,768	$247,528
2023	$3,072,475	$2,239,669	$8,045,166	$832,806
2022	$2,841,735	$2,454,800	$6,343,446	$386,935
2021	$2,745,334	$1,839,271	$5,747,986	$906,063
2020	$2,673,248	$2,463,323	$4,792,685	$209,925
2019	$2,525,749	$2,333,892	$4,394,442	$191,857
2018	$2,453,224	$2,374,356	$4,036,778	$78,868