Americans for Financial Reform Education Fund

What it reported doing in 2024

Explanation Legislative advocacy to advance consumer financial protection and a more just and accountable financial system. We organize advocacy campaigns to advance or oppose legislation on a broad scope of finance and financial markets related issues, from high cost lending abuses, to investor protections, to capital markets, to private funds and more with the goals of making lending and financial markets safer and fairer for the public, and better supporting a more equitable, stable, and sustainable economy. Building and Mobilizing a Robust Coalition to Support Financial Reform and Regulation: We bring together a nonpartisan nonprofit coalition including civil rights, consumer, labor, investor, small business, and civic and community-based organizations. We build connections among disparate groups; put together and nurture an infrastructure to develop and share information, insights, tools, tactics, and strategies; and provide strategic analysis, materials, research and other tools so that together we can develop and advance economic and racial justice priorities to reform the financial system. Policy Analysis and Development: We analyze legislation and policy proposals in the financial space including in the areas of consumer financial protection, investor protection, financial stability / systemic risk, non-bank financial actors, student lending, taxes, and other policies as they affect Wall Street, from a public interest perspective. We explain and support or oppose proposals, present testimony, and report on how members of Congress vote on issues connected to the regulation and design of the financial system. We work with our allies to develop and promote legislative solutions to stop financial sector abuses of economically vulnerable families and communities and reverse growing inequality that results from unchecked financialization and speculation

Financial Efficiency

• Mission deployment rate: 94.7%; rating input score 95
• Program expense ratio: 81.9%; rating input score 82
• Fundraising efficiency: $21.87 raised per $1 spent on fundraising; rating input score 62; 62nd percentile among comparable filings

Transparency & Controls

• Consistency checks: 93.3%; rating input score 93; 17th percentile among comparable filings
• Pay-setting controls: 4 of 6 controls in place; rating input score 67
  • Compensation committee: Missing
  • Independent consultant: Pass
  • Other Form 990s reviewed: Pass
  • Written employment contract: Missing
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: Limited
• Grant itemization coverage: Limited
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 88.9%; rating input score 89; 20th percentile among comparable filings
• Governance controls: 8 of 9 controls in place; rating input score 89
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: Fail
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: -15.4%; rating input score 9; 9th percentile among comparable filings
• Total-asset coverage ratio: 1.48; rating input score 51; 51st percentile among comparable filings
• Liabilities to assets ratio: 0.13; rating input score 53; 53rd percentile among comparable filings
• Officer compensation ratio: 21.8%; rating input score 11; 11th percentile among comparable filings

Growth

• Program expense growth: 17.4% per year; rating input score 100; 82nd percentile among comparable filings
• Revenue growth: -6.8% per year; rating input score 0; 3rd percentile among comparable filings
• Asset growth: -1.9% per year; rating input score 0; 8th percentile among comparable filings