Government Finance Officers Assoc of the Washington Metrop Area
Nonprofit profile at a glance
- EIN
- 521466309
- IRS 990-EZ coverage
- 2010–2024
- Forms available
- Form 990-EZ 2024
- Location
- Washington, DC, USA
- Phone
- 2023808966
- Rating
- 64
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
Reported finances
- Revenue
- $48,678
- Expenses
- $45,583
- Assets
- $67,777
- Liabilities
- $2,435
Source: IRS Form 990-EZ. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
4 people listed
Executive titles in this filing
- Rhonda Cheatham (President)
- Angelique Rice (Vice President)
People named in this filing
- Rhonda Cheatham (President)
- Wilma G Matthias (Treasurer)
- Paul Lundquist (Secretary)
Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.
Source: IRS Form 990-EZ. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
GFOA - WMA is a non-profit organization for financial professionals of local, state and county governments in the metropolitan Washington, DC market. Its mission is to promote and foster excellence in governmental management, accounting and finance through educational programs, conferences, networking and training.
What it reported doing in 2024
Quarterly meetings - provide business and organizational information, as well as educational opportunity to membership on a quarterly basis. Also provides continuing educational credits to meet professional certification requirements for members. Approximately 100 members attend each quarterly meeting.
Operating model
- Revenue model
- Mixed. Its operating money came from several sources; no one source provided a clear majority.
- 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. 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: 41
- Transparency & Controls: 100
- Sustainability: 53
- Growth: 20
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 39.5%; rating input score 40
- Program expense ratio: 42.2%; rating input score 42
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
Sustainability
- Operating margin: 6.4%; rating input score 57; 57th percentile among comparable filings
- Total-asset coverage ratio: 1.49; rating input score 57; 57th percentile among comparable filings
- Liabilities to assets ratio: 0.04; rating input score 23; 23rd percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings
Growth
- Program expense growth: -3.2% per year; rating input score 0; 39th percentile among comparable filings
- Revenue growth: -1.7% per year; rating input score 0; 45th percentile among comparable filings
- Asset growth: 5.5% per year; rating input score 100; 60th percentile among comparable filings
Details
- Where the money goes: 39.5% of revenue deployed · 42.2% of spending went to programs
- Governance: Filed governance answers
- Accomplishments: 2 filed program accomplishments · $19K in reported program spending
- Leadership: top reported pay $0 · 4 people listed
- Consistency: 9 of 9 current checks pass
- Schedules: 3 filed schedules
- Filing history: 15 filing years from 2010 to 2024
- Contacts: How to reach this organization
- 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.
- Moderate — Financial Efficiency: Mission deployment rate scored 40/100.
- Moderate — Financial Efficiency: Program expense ratio scored 42/100.
- High — Growth: Program expense growth scored 0/100.
- High — Growth: Revenue growth scored 0/100.
- Review — Sustainability: Operating margin scored 57/100.
- Review — Sustainability: Total-asset coverage ratio scored 57/100.
- High — Sustainability: Liabilities to assets ratio scored 23/100.
- Review — Sustainability: Officer compensation ratio scored 56/100.