SOCIETY OF FINANCIAL SERVICE PROFE… - Form 990 Financial Data

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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

1928

Legal Domicile

Principal Officer

KEVIN MAYEUX

Phone

7037708100

Tax Period

2023-10-01 to 2024-09-30

SOCIETY OF FINANCIAL SERVICE PROFESSIONALS, founded in 1928, is a small nonprofit that reported $633K in total revenue in fiscal year 2023. Revenue fell 71% from the prior year — a significant decline worth monitoring. Expenses of $929K exceeded revenue, resulting in a 47% operating deficit.

Mission

THE MISSION OF THE SOCIETY OF FINANCIAL SERVICE PROFESSIONALS (SFSP) IS TO ADVANCE THE PROFESSIONALISM OF CREDENTIALLED MEMBERS IN DIVERSE DISCIPLINES SO THAT THEY MAY BETTER SERVE THEIR CLLIENT'S FINANCIAL NEEDS. SFSP IS COMMITED TO : EMPOWERING NETWORKS THAT CREATE A PROFESSIONAL HOME IDENTIFIED BY A SET OF CORE VALUES, BELIEFS AND THE OPPORTUNITY FOR LEARNING AND GROWTH, PROVIDING CONTINUING EDUCATION THAT IS COMPREHENSIVE, CURRENT AND PRACTICAL AND WHICH EXTENDS THE WISDOM WITHIN OUR MEMBERSHIP, AND RECOGNIZING AS MEMBERS THOSE WHO ABIDE BY OUR CODE OF PROFESSIONAL RESPONSIBILITY.

Program Service Accomplishments

Program 1

CONTINUING EDUCATION: EDUCATION PROGRAMMING PROVIDED TO OUR OVER 3,900 MEMBERS AND OVER 400 NONMEMBERS DESIGNED TO KEEP THEM CURRENT AND PROFICIENT IN THEIR ROLES WITHIN THE FINANCIAL SERVICES...

CONTINUING EDUCATION: EDUCATION PROGRAMMING PROVIDED TO OUR OVER 3,900 MEMBERS AND OVER 400 NONMEMBERS DESIGNED TO KEEP THEM CURRENT AND PROFICIENT IN THEIR ROLES WITHIN THE FINANCIAL SERVICES INDUSTRY. DURING FY20, THE WORLD HEALTH ORGANIZATION DECLARED THE SPREAD OF CORONAVIRUS DISEASE A WORLDWIDE PANDEMIC. EDUCATION PROGRAMMING PARTICIPATION AND FINANCIAL RESULTS HAVE NOT RECOVERED, AND, THEREFORE, CONTINUE TO BE NEGATIVELY IMPACTED.

Program 2

JOURNAL: SCHOLARLY PUBLICATION PROVIDED TO OUR OVER 3,900 MEMBERS AND SOLD TO NONMEMBERS.THE CONTENT CONTRIBUTES TO THE CONTINUING EDUCATION OF THE MEMBERS, TO THE ADVANCEMENT OF PROFESSIONALISM IN...

Program 3

SECTIONS: SECTIONS ARE OUR OVER 3,900 MEMBERS LINK TO TARGETED INFORMATION FROM SOCIETY AND NETWORKING OPPORTUNITIES WITH OTHER SOCIETY MEMBERS.

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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 $567,517

Investment Income $2,658

Other Revenue $62,711

TOTAL REVENUE $632,886

Expense Breakdown

Grants Paid $0

Salaries & Benefits $520,850

Fundraising Expenses $0

Other Expenses $407,937

TOTAL EXPENSES $928,787

Year-over-Year Comparison

	2023	2022	Change
Revenue	$632,886	$2,191,875	-0.7%
Expenses	$928,787	$2,181,898	-0.6%
Net Income	$-295,901	$9,977	-30.7%

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

Total Directors

Key Employees

$556,427

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOSHUA DLUHOS MS	DIRECTOR	1.00	Director	$0	$0	$0
JACQUELINE BALDWIN CLTC	DIRECTOR	1.00	Director	$0	$0	$0
TABITHA L ATWELL JD	DIRECTOR	1.00	Director	$0	$0	$0
JOHN ROUSOS	DIRECTOR	1.00	Director	$0	$0	$0
THOMAS FRIDICH JD CLU CHFC	DIRECTOR	1.00	Director	$0	$0	$0
KIRK A SADILEK AIF CHFC CLU	DIRECTOR	1.00	Director	$0	$0	$0
MARK D MASTERS JD AEP	DIRECTOR	1.00	Director	$0	$0	$0
NICK ELBERT	DIRECTOR	1.00	Director	$0	$0	$0
SARAH CORNEY JD	DIRECTOR	1.00	Director	$0	$0	$0
ERNESTO J GUERRIERO CLU CHFC	IMMEDIATE PAST PRESIDENT PRESIDENT	1.00	Officer Director	$0	$0	$0
KATHLEEN W BILDERBACK JD LLM	IMMEDIATE PAST PRESIDENT PRESIDENT	1.00	Officer Director	$0	$0	$0
ANDREW J RINN JD CFP CLU CHFC	PRESIDENT ELECT	1.00	Officer Director	$0	$0	$0
JESSE G DOGILLO CFP CLU CHFC AEP	PRESIDENT ELECT	1.00	Officer Director	$0	$0	$0
TROY D BRANCH JD CLU CHFC	SECRETARY	1.00	Officer Director	$0	$0	$0
DAVID M MAOLA JD MBA	CEO	39.00	Key Emp	$325,000	$48,074	$373,074
BRIAN HORN	CIO	40.00	Key Emp	$159,120	$24,233	$183,353

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
2024	$632,886	$928,787	No data	$-295,901
2023	$2,191,875	$2,181,898	$698,485	$9,977
2022	$2,394,194	$2,342,647	$1,520,001	$51,547
2021	$2,343,618	$2,453,218	$1,943,499	$-109,600
2020	$2,427,200	$2,735,162	$1,742,820	$-307,962
2019	$2,682,078	$2,880,001	$2,043,462	$-197,923
2018	$2,970,636	$3,077,923	$2,273,837	$-107,287

SOCIETY OF FINANCIAL SERVICE PROFESSIONALS