Foundation of the Professional Convention Management Association

Nonprofit profile at a glance

EIN
529999947
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Chicago, IL, USA
Phone
3124237262
Rating
67
Verdict
SUPPORTED
Rating confidence
Standard
Sector
Education N.E.C.

Official website

Reported finances

Revenue
$2,682,762
Expenses
$2,253,973
Assets
$6,268,027
Liabilities
$2,240,344

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

Leadership & pay

20 people listed

Executive titles in this filing

  • SHERRIF KARAMAT (CEO & PRESIDENT)

Highest reported compensation

  • SHERRIF KARAMAT (CEO & PRESIDENT): $936,608 total reported compensation
  • MEREDITH ROLLINS (CHIEF COMMUNITY OFFICER): $281,890 total reported compensation

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

Overview

Mission

Fundraising and grant giving, focused on education and research that will benefit the business events industry.

What it reported doing in 2024

Grant giving - to support education, research and scholarships in the business events industry.

Operating model

Revenue model
Donor-supported. 94% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 50% for direct work, and 50% for grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and most voting board members are independent. 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: 65
  • Transparency & Controls: 57
  • Accountability: 77
  • Sustainability: 64
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 64%; rating input score 64
  • Program expense ratio: 60.8%; rating input score 61
  • Fundraising efficiency: $53.42 raised per $1 spent on fundraising; rating input score 79; 79th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 93.8%; rating input score 94; 20th 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: 1 of 8 controls in place; rating input score 12
    • Claims monitoring procedures: Pass
    • Requires narrative reports: Limited
    • Conducts field audits: Limited
    • May suspend future funding: Limited
    • Requires financial reports: Limited
    • Conducts site visits: Limited
    • Requires grant agreements: Limited
    • May require repayment: Limited
  • Grant itemization coverage: 69.5%; rating input score 69; 18th 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: 4 of 9 controls in place; rating input score 44
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 16%; rating input score 72; 72nd percentile among comparable filings
  • Total-asset coverage ratio: 2.78; rating input score 72; 72nd percentile among comparable filings
  • Liabilities to assets ratio: 0.36; rating input score 30; 30th percentile among comparable filings
  • Officer compensation ratio: 6.2%; rating input score 46; 46th percentile among comparable filings

Growth

  • Program expense growth: 14.6% per year; rating input score 100; 77th percentile among comparable filings
  • Revenue growth: 5.7% per year; rating input score 100; 46th percentile among comparable filings
  • Asset growth: 2.6% per year; rating input score 100; 22nd percentile among comparable filings

Details

  • Where the money goes: 64% of revenue deployed · 60.8% of spending went to programs
  • Governance: 18 of 18 board members independent · 4 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $1.4M in reported program spending
  • Leadership: top reported pay $937K · 20 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 33 of 34 current checks pass · 1 finding to review
  • Schedules: 9 filed schedules · includes major donors, foreign activity, grants, and executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 3 filed related-organization links
  • 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: 4 of 8 not reported.
  • Moderate — Sustainability: Liabilities to assets ratio scored 30/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Moderate — Sustainability: Officer compensation ratio scored 46/100.