For the Long Term

Nonprofit profile at a glance

EIN
853008040
IRS 990 coverage
2022–2024
Forms available
Form 990 2024, Form 990-N 2020
Location
Washington, DC, USA
Phone
4157416564
Rating
66
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Public Finance, Taxation, Monetary Policy

Official website

Reported finances

Revenue
$1,397,741
Expenses
$1,415,727
Assets
$1,243,458
Liabilities
$11,487

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

8 people listed

Executive titles in this filing

  • DAVID WALLACK (CHAIR/EXECUTIVE DIRECTOR)

Highest reported compensation

  • DAVID WALLACK (CHAIR/EXECUTIVE DIRECTOR): $247,335 total reported compensation
  • URIAH KING (POLICY DIRECTOR): $150,382 total reported compensation
  • EMMA STUTZMAN (OPERATIONS DIRECTOR): $113,972 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

For the long term's (ftlt) mission is to help state, city, and county public fiscal officers leverage the power of their roles to deliver sustainable long-term growth for the benefit of their public beneficiaries.

What it reported doing in 2024

Public fiscal officers are government officials who provide professional financial management and accountability for a variety of public funds.there are a growing number of 501(c)(3) organizations working to help train and encourage public fiscal officers to leverage their power as owners, issuers, fiduciaries, and customers to invest in ways that improve environmental and social outcomes for the public. However, existing 501(c)(3) organizations have faced challenges working with the public fiscal officers who serve as fiduciaries of public sector institutions and funds. First, public fiscal officers operate within a bureaucracy and cannot react as quickly and (continued on schedule o) need a more proactive frame in which to engage. Second, public fiscal officers enter and leave their roles with greater frequency due to restrictions such as term limits.public fiscal officers also often enter government with a learning curve about their rights as an owner and their responsibilities as a public fiduciary, and state and local governments often lack adequate resources and tools necessary to full train and onboard these fiscal officers. Nonprofit organizations have a vital role to play in helping to educate public fiscal officers, which frees up critical state and local governmental resources for core governmental functions. Fiscal officers also need outside guidance to help them learn about the nonprofit support that is available to help them accelerate their development as owners and fiduciaries so that they may ultimately leverage their power as owners, issuers, and fiduciaries to best represent the public interest.ftlt has has been formed to fill the critical need for a 501(c)(3) organization that supports public fiscal officers in managing the unique challenges they face in interfacing with nonprofit organizations, for the benefit of the members of the public who benefit from the public funds that fiscal officers are charged with overseeing.

Operating model

Revenue model
Donor-supported. 99% of the money available for current operations came from contributions and gifts.
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 - The filed numbers largely add up and most voting board members are independent. Fundraising costs are high for each dollar raised and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 59
  • Transparency & Controls: 70
  • Accountability: 85
  • Sustainability: 35
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 65.2%; rating input score 65
  • Program expense ratio: 63.9%; rating input score 64
  • Fundraising efficiency: $4.07 raised per $1 spent on fundraising; rating input score 13; 13th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • 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: 83.3%; rating input score 83; 19th percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -1.3%; rating input score 32; 32nd percentile among comparable filings
  • Total-asset coverage ratio: 0.88; rating input score 39; 39th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 36.1%; rating input score 4; 4th percentile among comparable filings

Growth

  • Program expense growth: 44.4% per year; rating input score 100; 95th percentile among comparable filings
  • Revenue growth: -3.7% per year; rating input score 0; 6th percentile among comparable filings
  • Asset growth: 3.5% per year; rating input score 100; 32nd percentile among comparable filings

Details

  • Where the money goes: 65.2% of revenue deployed · 63.9% of spending went to programs
  • Governance: 5 of 6 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $905K in reported program spending
  • Leadership: top reported pay $247K · 8 people listed · 1 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $130K reported
  • Consistency: 29 of 29 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 3 filing years from 2022 to 2024
  • 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 — Financial Efficiency: Fundraising efficiency scored 13/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 32/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 39/100.
  • High — Sustainability: Officer compensation ratio scored 4/100.