Foundation for Financial Service Professionals

Nonprofit profile at a glance

EIN
232336013
IRS 990 coverage
2013–2024
Forms available
Form 990 2024, Form 990-EZ 2023
Location
Arlington, VA, USA
Phone
7037708100
Rating
50
Verdict
MIXED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$239,589
Expenses
$75,919
Assets
$371,748
Liabilities
$7,158

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

Leadership & pay

11 people listed

Executive titles in this filing

  • KEVIN MAYEUX (CEO)
  • DAVID MAOLA (CEO (UNTIL 12/24))

People named in this filing

  • KEVIN MAYEUX (CEO)
  • TROY D BRANCH (SECRETARY)
  • JAMES M CHRISTIAN (TRUSTEE)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

The foundation for financial service professionals, a charitable organization created in 1982 under irc section 501(c)(3), was established by the leadership of the society of financial serviceprofessionals, with a mission to impact the lives of individuals with scholarships and financialeducation

What it reported doing in 2024

Paul s. Mills scholarship: scholarships provide need-based financial support to students pursuing undergraduate degree in financial service-related fields.

Operating model

Revenue model
Donor-supported. 98% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

MIXED - Most voting board members are independent and the filed numbers largely add up. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 11
  • Transparency & Controls: 65
  • Accountability: 100
  • Sustainability: 81
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 7.9%; rating input score 8
  • Program expense ratio: 19.4%; rating input score 19
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 25th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 0%; rating input score 0; 19th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 7 of 7 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 68.3%; rating input score 96; 96th percentile among comparable filings
  • Total-asset coverage ratio: 4.9; rating input score 79; 79th percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 40; 40th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: -13.7% per year; rating input score 0; 8th percentile among comparable filings
  • Revenue growth: 2.9% per year; rating input score 100; 41st percentile among comparable filings
  • Asset growth: -6.3% per year; rating input score 0; 9th percentile among comparable filings

Details

  • Where the money goes: 7.9% of revenue deployed · 19.4% of spending went to programs
  • Governance: 11 of 11 board members independent · 7 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $15K in reported program spending
  • Leadership: top reported pay $0 · 11 people listed
  • Consistency: 18 of 19 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 6 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • Related organizations: Filed and resolved organization relationships.
  • 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: Mission deployment rate scored 8/100.
  • High — Financial Efficiency: Program expense ratio scored 19/100.
  • High — Transparency & Controls: Grant itemization coverage scored 0/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Moderate — Sustainability: Liabilities to assets ratio scored 40/100.