CERTIFIED FINANCIAL PLANNER BOARD OF STANDARDS CENTER FOR FINANCIAL PLANNING

EIN: 742385850 501(c)(3) Community Improvement

WASHINGTON, DC

Total Revenue
$4,470,722
Total Expenses
$7,520,331
Total Assets
$54,254,908
Net Assets
$32,331,346
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1985
Legal Domicile
DC
Principal Officer
KEVIN R KELLER CEO
Phone
2023792200
Tax Period
2023-01-01 to 2023-12-31

CERTIFIED FINANCIAL PLANNER BOARD OF STANDARDS CENTER FOR FINANCIAL PLANNING, founded in 1985, is a community nonprofit in the Community Improvement sector that reported $4.5M in total revenue in fiscal year 2023. Revenue fell 91% from the prior year — a significant decline worth monitoring. Expenses of $7.5M exceeded revenue, resulting in a 68% operating deficit.

Mission

" THE MISSION OF CFP BOARD CENTER FOR FINANCIAL PLANNING, A 501(C)(3) NONPROFIT ORGANIZATION, IS TO ADVANCE COMPETENT AND ETHICAL FINANCIAL PLANNING AND EXPAND CFP PROFESSIONAL DIVERSITY FOR THE BENEFIT OF THE PUBLIC.

Program Service Accomplishments

Program 1
Expenses: $4,922,976 Revenue: $1,847,785

ACADEMICS, SCHOLARSHIPS AND CONTENTCFP BOARD CENTER FOR FINANCIAL PLANNING ADMINISTERS SCHOLARSHIP PROGRAMS THAT ASSIST INDIVIDUALS ASPIRING TO BECOME A CFP PROFESSIONAL WITH COMPLETING THE EDUCATION...

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ACADEMICS, SCHOLARSHIPS AND CONTENTCFP BOARD CENTER FOR FINANCIAL PLANNING ADMINISTERS SCHOLARSHIP PROGRAMS THAT ASSIST INDIVIDUALS ASPIRING TO BECOME A CFP PROFESSIONAL WITH COMPLETING THE EDUCATION AND EXAM REQUIREMENTS FOR CFP CERTIFICATION.THESE SCHOLARSHIPS ARE SUPPORTED BY THE GENEROUS DONATIONS OF SPONSORS AND DONORS WHO REALIZE THE BENEFIT OF CREATING A MORE DIVERSE AND SUSTAINABLE FINANCIAL PLANNING PROFESSION. EACH SCHOLARSHIP HAS DIFFERENT REQUIREMENTS, APPLICATION PROCESSES AND DEADLINES TO FOLLOW TO BE ELIGIBLE FOR CONSIDERATION.CFP BOARD CENTER FOR FINANCIAL PLANNING HAS A COMPREHENSIVE RESEARCH AGENDA THAT DEVELOPS DEEP AND LEADING INSIGHTS THAT ASSESS THE IMPACT OF FINANCIAL PLANNING ON CLIENTS' WELL-BEING, TRACK TRENDS, AND GAUGE PROFESSIONALS AND THE PUBLIC'S PERCEPTIONS ON CRITICAL FINANCIAL PLANNING TOPICS. IN 2023, CFP BOARD CENTER FOR FINANCIAL PLANNING COLLABORATED WITH 3 WELL-RESPECTED ACADEMIC RESEARCHERS TO DEVELOP A DEFINITION OF FINANCIAL WELL-BEING THAT WILL SERVE AS THE BASIS OF A 10-YEAR LONGITUDINAL STUDY, LAUNCHING IN 2024, THAT WILL TRACK THE IMPACT OF PROFESSIONAL FINANCIAL PLANNING ADVICE ON THE WELL-BEING OF INDIVIDUALS AND FAMILIES. ALSO IN 2023, CFP BOARD CENTER FOR FINANCIAL PLANNING PUBLISHED 3 SURVEY REPORTS FOCUSED ON AMERICANS' VIEW OF THEIR FINANCIAL PROSPECTS AND THE FINANCIAL PLANNING PROFESSION'S ROLE IN PROMOTING GREATER FINANCIAL WELL-BEING.

Program 2
Expenses: $278,331

PROBONO-CFP BOARD CENTER FOR FINANCIAL PLANNING RECOGNIZES THAT PRO BONO FINANCIAL PLANNING NOT ONLY BENEFITS THOSE SERVED BUT ALSO ENHANCES THE PROFESSION AND HELPS BUILD THE FINANCIAL PLANNING...

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PROBONO-CFP BOARD CENTER FOR FINANCIAL PLANNING RECOGNIZES THAT PRO BONO FINANCIAL PLANNING NOT ONLY BENEFITS THOSE SERVED BUT ALSO ENHANCES THE PROFESSION AND HELPS BUILD THE FINANCIAL PLANNING WORKFORCE OF THE FUTURE. CFP BOARD CENTER FOR FINANCIAL PLANNING PARTNERS WITH THE FOUNDATION FOR FINANCIAL PLANNING TO HELP MAKE PRO BONO OPPORTUNITIES, TRAINING AND RESOURCES AVAILABLE TO ALL CFP PROFESSIONALS.15,504 CFP PROFESSIONALS REPORTED 330,192 HOURS OF PRO BONO FINANCIAL PLANNING IN 2023 AND OUR GOAL IS TO GROW THE NUMBER OF CFP PROFESSIONALS PROVIDING PRO BONO SERVICE TO OVER 25,000 BY THE END OF 2026.

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Trantor Score

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

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $1,939,817
Program Service Revenue $10,647
Investment Income $1,016,466
Other Revenue $1,503,792
TOTAL REVENUE $4,470,722

Expense Breakdown

Grants Paid $0
Salaries & Benefits $2,434,958
Fundraising Expenses $361,837
Program Expenses $5,201,307
Other Expenses $5,085,373
TOTAL EXPENSES $7,520,331

Year-over-Year Comparison

2023 2022 Change
Revenue $4,470,722 $48,603,332 -0.9%
Expenses $7,520,331 $53,430,544 -0.9%
Net Income $-3,049,609 $-4,827,212 -0.4%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
14
Independent Members
14
Employees
153
Volunteers
387

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
4
$3,022,022
Total Directors
14
$0
Key Employees
5
$2,330,731
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DAN MOISAND CFP BOARD CHAIR 2.00
Officer Director
$0 $0 $0
MATT BOERSEN CFP CFA BOARD MEMBER 2.00
Director
$0 $0 $0
ELIZABETH K MILLER CFP CFA BOARD MEMBER 2.00
Director
$0 $0 $0
ANERI JAMBUSARIA CFP MBA BOARD MEMBER 2.00
Director
$0 $0 $0
RICK SHERLOCK BOARD MEMBER 2.00
Director
$0 $0 $0
NANCY SMITH JD BOARD MEMBER 2.00
Director
$0 $0 $0
TERRI KALLSEN CFP BOARD MEMBER 2.00
Director
$0 $0 $0
LOUIS BARAJAS CFP MBA BOARD MEMBER 2.00
Director
$0 $0 $0
PETER ROHR CFP BOARD MEMBER 2.00
Director
$0 $0 $0
MARTIN SEAY PH D CFP BOARD MEMBER 2.00
Director
$0 $0 $0
MARGUERITA CHENG CFP BOARD MEMBER 2.00
Director
$0 $0 $0
RICHARD SHAW CFP MBA BOARD MEMBER 2.00
Director
$0 $0 $0
ROBERTA KARMEL BOARD MEMBER 2.00
Director
$0 $0 $0
ALEX ROZMAN BOARD MEMBER 2.00
Director
$0 $0 $0
KEVIN KELLER CHIEF EXECUTIVE OFFICER 5.00
Officer
$1,628,423 $182,811 $1,811,234
LEO RYDZEWSKI GENERAL COUNSEL 5.00
Officer
$612,833 $115,226 $728,059
KEVIN YEA CHIEF FINANCIAL OFFICER 5.00
Officer
$384,505 $98,224 $482,729
ROGER MYERS JR STRATEGIC ADVISOR 1.00
Key Emp
$369,064 $32,876 $401,940
ELIZABETH STEWART CHIEF OPERATING OFFICER 5.00
Key Emp
$550,284 $117,661 $667,945
MAUREEN THOMPSON VP OF PUBLIC POLICY 5.00
Key Emp
$452,632 $29,453 $482,085
CATHERINE HEALY MANAGING DIRECTOR 40.00
Key Emp
$188,457 $23,326 $211,783
THOMAS SPORKIN MANAGING DIRECTOR 5.00
Key Emp
$447,657 $119,321 $566,978
JOHN LOPER MANAGING DIRECTOR 5.00
Highest
$276,758 $47,305 $324,063
ERIN KOEPPEL MANAGING DIRECTOR 5.00
Highest
$304,982 $34,616 $339,598
ADAM ZAJAC DIRECTOR 5.00
Highest
$291,635 $23,538 $315,173
JAMES KATSAOUNIS MANAGING DIRECTOR 5.00
Highest
$300,028 $38,710 $338,738
JOSEPH MAUGERI MANAGING DIRECTOR 5.00
Highest
$389,519 $86,084 $475,603
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 No data No data No data No data
2023 $4,470,722 $7,520,331 $54,254,908 $-3,049,609
2022 $48,603,332 $53,430,544 $82,364,201 $-4,827,212
2021 $49,028,168 $46,322,632 $72,477,411 $2,705,536
2020 $42,966,550 $44,341,055 $64,603,052 $-1,374,505
2019 $44,473,594 $41,086,466 $59,426,348 $3,387,128
2019 $44,473,594 $41,086,466 $59,426,348 $3,387,128
2018 $40,103,667 $38,754,114 $51,574,170 $1,349,553
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