Financial Managers Society Philade… - 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

Principal Officer

Virginia Wright

Phone

4843954048

Tax Period

2023-07-01 to 2024-06-30

Financial Managers Society Philadelphia Chapter is a small nonprofit that reported $109K in total revenue in fiscal year 2023. Revenue surged 67% from the prior year, signaling strong growth momentum. The organization ran a surplus of $48K, a strong 44% operating margin.

Mission

THE CORPORATION IS INCORPORATED UNDER THE NONPROFIT CORPORATION LAW OF THE COMMONWEALTH OF PENNSYLVANIA FOR THE FOLLOWING PURPOSE OR PURPOSES: A) TO STUDY OPERATIONS, FINANCIAL MANAGEMENT, SYSTEMS, PROCEDURES, ACCOUNTING, AUDITING, AND DATA PROCESSING TECHNIQUES USED BY FINANCIAL INSTITUTIONS, AND TO DEVISE WAYS AND MEANS OF IMPROVING THE SAME. B) TO PROMOTE HIGH STANDARDS OF PRACTICE IN OPERATIONS, SYSTEMS, PROCEDURES, FINANCIAL MANAGEMENT, ACCOUNTING, AUDITING, AND DATA PROCESSING. C) TO FURTHER THE PROFESSIONAL DEVELOPMENT OF OPERATIONS AND FINANCIAL EXECUTIVES, CONTROLLERS, TREASURERS, ACCOUNTANTS, AUDITORS, AND SYSTEMS PERSONNEL EMPLOYED BY FINANCIAL INSTITUTIONS AND SUPPORTIVE ORGANIZATIONS. D) TO UTILIZE THE PROFESSIONAL ABILITIES AND SPECIALIZED SKILLS WITHIN THE MEMBERSHIP, AND TO IMPROVE AND COORDINATE THE LAWS, REGULATIONS, AND SUPERVISORY PROCEDURES AFFECTING THE OPERATIONS MEMBERS' ORGANIZATIONS. E) TO PROVIDE A FORUM FOR THE EXCHANGE OF INFORMATION AND THE SHARING OF EXPE

Program Service Accomplishments

Program 1

Expenses: $40,505

Program: August Golf Outing Date: 8/7/2023 No. of Attendees: 65 Expenses: $40,505 Description: Annual golf outing for FMS members and sponsors. We had a breakfast, lunch, golf outing and dinner. The educational event, sponsored by FHLB Pittsburgh , covered regional economic and banking topics.

Program 2

Expenses: $77,324

Program: East Coast Regional Date: 9/24/23-9/26/2023 No. of Attendees: 105 Expenses: $77,324 Description: Attendees will learn from industry experts through an extensive program of contemporary...

Program: East Coast Regional Date: 9/24/23-9/26/2023 No. of Attendees: 105 Expenses: $77,324 Description: Attendees will learn from industry experts through an extensive program of contemporary education sessions for community bankers while collaborating with their peers. Title sponsors include: Paladin fs, Atlantic Community Bankers Bank,Chatham Financial, DCG, FHLB, FHN Financial, The Kafafian Group, Performance Trust, RKL,RSM, S.R. Snodgrass,Velligan Blaxall, Wolf & Co, Bank Compensation Consulting, BNN, Piper Sandler, Stevens & Lee, PCBB, Empyrean, Mercadien, Penn Community Bank, Syntellis

Program 3

Expenses: $10,982

Program: December - 2023 FMS Holiday Party Date: December 7, 2023 No. of Attendees: 45 Expenses: $10,982 Description: Snodgrass and Janney sponsored the annual holiday party and hosted a toy drive...

Program: December - 2023 FMS Holiday Party Date: December 7, 2023 No. of Attendees: 45 Expenses: $10,982 Description: Snodgrass and Janney sponsored the annual holiday party and hosted a toy drive for the Toys for Tots.

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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 $105,604

Program Service Revenue $19,160

Investment Income $4,237

Other Revenue $-19,746

TOTAL REVENUE $109,255

Expense Breakdown

Grants Paid $11,000

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $128,811

Other Expenses $47,598

TOTAL EXPENSES $61,588

Year-over-Year Comparison

	2023	2022	Change
Revenue	$109,255	$65,255	+0.7%
Expenses	$61,588	$87,867	-0.3%
Net Income	$47,667	$-22,612	-3.1%

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

N/A

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

Highest Compensated

reported

Name	Title	Role	Reportable Comp	Other Comp	Total
John Carrozza	Director	Director	$0	$0	$0
Chris Carroll	Director	Director	$0	$0	$0
Shannon Croll	Director	Director	$0	$0	$0
Larry Davis	Director	Director	$0	$0	$0
Rob Galbreath	Director	Director	$0	$0	$0
Dorothy Jaworski	Director	Director	$0	$0	$0
Denise Lindsay	Director	Director	$0	$0	$0
Patrick Mulloy	Director	Director	$0	$0	$0
Jonathan Sundberg	Director	Director	$0	$0	$0
Bill McGettigan	Director	Director	$0	$0	$0
Lisa Thouin	President	Officer	$0	$0	$0
Virginia Wright	Vice-President	Officer	$0	$0	$0
Falesha Grasty	Treasurer	Officer	$0	$0	$0
Rosemary Ondeck	Secretary	Officer	$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	$109,255	$61,588	$274,864	$47,667
2023	$65,255	$87,867	$307,665	$-22,612
2022	$72,364	$73,202	$252,536	$-838
2021	$21,848	$35,699	$232,056	$-13,851

Financial Managers Society Philadelphia Chapter