Financial Data Exchange Inc

Nonprofit profile at a glance

EIN
994484150
IRS 990 coverage
2024–2025
Forms available
Form 990 2025
Location
Salt Lake City, UT, USA
Phone
7039469195
Rating
70
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Chambers of Commerce & Business Leagues

Official website

Reported finances

Revenue
$5,764,411
Expenses
$5,582,825
Assets
$3,423,557
Liabilities
$2,947,150

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

4 people listed

Highest reported compensation

  • KEVIN FELTES (DIRECTOR): $550,000 total reported compensation
  • DONALD CARDINAL (MANAGING DIR): $393,711 total reported compensation
  • BRADLEY JACOBSEN (G COUNSEL &): $350,576 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Fdx is dedicated to unifying the financial industry around a common standard for the secure and convenience access of permissioned consumer and business financial data. Get the latest on cfpb's final 1033 rule and see why fdx membership puts your organization at the forefront of open banking.

What it reported doing in 2025

Fdx is dedicated to unifying the financial industry around a common standard for the secure and convenience access of permissioned consumer and business financial data.get the latest on cfpb's final 1033 rule and see why fdx membership puts your organization at the forefront of open banking.

Operating model

Revenue model
Membership-supported. 92% of the money available for current operations came from membership dues.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 78
  • Transparency & Controls: 60
  • Accountability: 74
  • Sustainability: 25
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 87%; rating input score 87
  • Program expense ratio: 89.7%; rating input score 90
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 3.2%; rating input score 37; 37th percentile among comparable filings
  • Total-asset coverage ratio: 0.61; rating input score 21; 21st percentile among comparable filings
  • Liabilities to assets ratio: 0.86; rating input score 6; 6th percentile among comparable filings
  • Officer compensation ratio: 28.6%; rating input score 8; 8th percentile among comparable filings

Growth

  • Program expense growth: 106.3% per year; rating input score 100; 99th percentile among comparable filings
  • Revenue growth: 138.1% per year; rating input score 100; 100th percentile among comparable filings
  • Asset growth: 20.4% per year; rating input score 100; 85th percentile among comparable filings

Details

  • Where the money goes: 87% of revenue deployed · 89.7% of spending went to programs
  • Governance: 13 of 13 board members independent · 3 of 8 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $550K · 4 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 18 of 18 current checks pass
  • Schedules: 3 filed schedules · includes executive pay
  • Filing history: 2 filing years from 2024 to 2025
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Accountability: Governance controls: 5 of 8 not reported.
  • Moderate — Sustainability: Operating margin scored 37/100.
  • High — Sustainability: Total-asset coverage ratio scored 21/100.
  • High — Sustainability: Liabilities to assets ratio scored 6/100.
  • High — Sustainability: Officer compensation ratio scored 8/100.