AMERICAN FINANCE ASSOCIATION (EIN 136111495) - Form 990 Financial Analysis & Trantor Score

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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

1939

Legal Domicile

Principal Officer

KATHLEEN HANLEY

Phone

8015814434

Tax Period

2022-07-01 to 2023-06-30

AMERICAN FINANCE ASSOCIATION, founded in 1939, is a community nonprofit in the Public & Societal Benefit sector that reported $2.9M in total revenue in fiscal year 2022. Revenue surged 36% from the prior year, signaling strong growth momentum. Expenses of $2.6M left a modest 10% surplus.

Mission

THE ORGANIZATION'S MISSION IS TO IMPROVE PUBLIC UNDERSTANDING OF FINANCIAL PROBLEMS AND PROMOTE FINANCE SCHOLARSHIP. THE ORGANIZATION IS DEVOTED TO THE STUDY AND PROMOTION OF KNOWLEDGE ABOUT FINANCIAL ECONOMICS.

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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 (2022)

Revenue Breakdown

Contributions & Grants $190,000

Program Service Revenue $1,355,249

Investment Income $1,322,675

Other Revenue $0

TOTAL REVENUE $2,867,924

Expense Breakdown

Grants Paid $280,261

Salaries & Benefits $374,977

Fundraising Expenses $2,803

Program Expenses $2,305,388

Other Expenses $1,918,416

TOTAL EXPENSES $2,573,654

Year-over-Year Comparison

	2022	2021	Change
Revenue	$2,867,924	$2,101,619	+0.4%
Expenses	$2,573,654	$1,535,848	+0.7%
Net Income	$294,270	$565,771	-0.5%

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

$185,667

Total Directors

$271,667

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KATHLEEN HANLEY	SECRETARY/TR	3.00	Officer Director	$54,167	$0	$54,167
JAMES SCHALLHEIM	SECRETARY/TR	3.00	Officer Director	$130,000	$0	$130,000
MARKUS BRUNNERMEIR	PRESIDENT	3.00	Officer Director	$0	$0	$0
MONIKA PIAZZESI	PRESIDENT EL	2.00	Officer Director	$0	$0	$0
ULRIKE MALMENDIER	VICE PRESIDE	1.00	Officer Director	$0	$0	$0
LAURA STARKS	PAST PRESIDE	1.00	Officer Director	$0	$0	$0
ANTOINETTE SCHOAR	EDITOR OF JO	10.00	Officer Director	$0	$0	$0
ALEX EDMANS	BOARD MEMBER	0.50	Director	$0	$0	$0
JOHN GRAHAM	PRESIDENT/PA	0.50	Officer Director	$0	$0	$0
VICTORIA IVASHINA	BOARD MEMBER	0.50	Director	$0	$0	$0
ANDREW KAROLYI	BOARD MEMBER	0.50	Director	$0	$0	$0
CAMELIA KUHNEN	BOARD MEMBER	0.50	Director	$0	$0	$0
MICHELLE LOWRY	BOARD MEMBER	0.50	Director	$20,000	$0	$20,000
NADYA MALENKO	EDITOR	0.50	Officer Director	$1,500	$0	$1,500
STIJN VAN NIEUWERBURGH	BOARD MEMBER	0.50	Director	$0	$0	$0
LAURA VELDKAMP	BOARD MEMBER	0.50	Director	$0	$0	$0
WEI XIONG	BOARD MEMBER	0.50	Director	$66,000	$0	$66,000
RALPH KOIJEN	BOARD MEMBER	1.00	Director	$0	$0	$0
GORDON PHILLIPS	BOARD MEMBER	0.50	Director	$0	$0	$0
MANJU PURI	BOARD MEMBER	0.50	Director	$0	$0	$0
KENNETH SINGLETON	BOARD MEMBER	0.50	Director	$0	$0	$0

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	No data	No data	No data	No data
2023	$2,867,924	$2,573,654	$26,738,906	$294,270
2022	$2,101,619	$1,535,848	$24,668,560	$565,771
2021	$1,934,853	$1,568,359	$27,372,978	$366,494
2020	$2,200,524	$1,918,969	$22,139,942	$281,555
2019	$3,261,560	$2,139,114	$21,394,798	$1,122,446

AMERICAN FINANCE ASSOCIATION