International Payments Framework Association

Nonprofit profile at a glance

EIN
300606277
IRS 990 coverage
2017–2018
Forms available
Form 990 2018
Location
Redwood City, CA, USA
Phone
4046552252
Rating confidence
Limited
Sector
Chambers of Commerce & Business Leagues

Official website

Reported finances

Revenue
$0
Expenses
$171,272
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2018. Amounts in USD.

Leadership & pay

6 people listed

Executive titles in this filing

  • ELIZABETH MCQUERRY (CEO)

Highest reported compensation

  • ELIZABETH MCQUERRY (CEO): $117,641 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2018. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To enable the exchange of multi-currency, non-urgent payments between organizations, using the same standardized process and operating procedures.

What it reported doing in 2018

Dues and sponsorship revenue enable the ipfa to provide the core components of the framework for processing cross-border credit transfers. This includes the establishment of operating rules and procedures, a contractual framework that binds ipfa members and affiliates, and develop message implementation guides. Members of the board of directors contribute their time to these program services.

Operating model

Revenue model
No positive adjusted resources. The filing reports no positive adjusted operating resources.
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

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: 56
  • Transparency & Controls: 66
  • Accountability: 10
  • Sustainability: 1
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: 75%; rating input score 75
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd 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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: Limited
  • Governance controls: 2 of 8 controls in place; rating input score 25
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: Limited
  • Total-asset coverage ratio: 0; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 68.7%; rating input score 5; 5th percentile among comparable filings

Growth

  • Program expense growth: -46.1% per year; rating input score 0; 10th percentile among comparable filings
  • Revenue growth: -200% per year; rating input score 0; 0th percentile among comparable filings
  • Asset growth: -200% per year; rating input score 0; 0th percentile among comparable filings

Details

  • Where the money goes: 75% of spending went to programs
  • Governance: 2 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $128K in reported program spending
  • Leadership: top reported pay $118K · 6 people listed · 1 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $118K reported
  • Consistency: 16 of 16 current checks pass
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 2 filing years from 2017 to 2018
  • 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.

  • High — Accountability: Governance controls: 5 of 7 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 5/100.
  • High — Growth: Asset growth scored 0/100.