Society for Financial Education & Professional Development

Nonprofit profile at a glance

EIN
522116419
IRS 990 coverage
2018–2024
Forms available
Form 990 2024
Location
Alexandria, VA, USA
Phone
7039203807
Rating
71
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards

Official website

Reported finances

Revenue
$1,491,687
Expenses
$1,519,588
Assets
$540,856
Liabilities
$23,249

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

Leadership & pay

14 people listed

Executive titles in this filing

  • THEODORE DANIELS (PRESIDENT)
  • MICHAEL PUGH (CEO)

Highest reported compensation

  • THEODORE DANIELS (PRESIDENT): $164,000 total reported compensation

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

Overview

Mission

To enhance the financial and economic literacy of individuals and american households

What it reported doing in 2024

In 2024, the society for financial education & professional development (sfepd) significantly advanced its mission to enhance financial and economic literacy across the united states. The organization expanded its student ambassador program to 42 historically black colleges and universities (hbcus), engaging 230 ambassadors who facilitated peer-led financial education initiatives on their campuses. Sfepd also launched the "mind over money skills" certification program in collaboration with hampton university, offering an eight-module curriculum covering essential financial topics such as budgeting, credit management, investing, and generational wealth building. Additionally, sfepd conducted a series of seminars and workshops aimed at individuals and families, focusing on practical financial skills to empower participants to make informed economic decisions.

Operating model

Revenue model
Donor-supported. 80% 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 - A large share of available resources goes toward mission work and the filed numbers largely add up. 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: 77
  • Transparency & Controls: 65
  • Accountability: 69
  • Sustainability: 29
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 79.1%; rating input score 79
  • Program expense ratio: 77.5%; rating input score 78
  • Fundraising efficiency: $24.8 raised per $1 spent on fundraising; rating input score 64; 64th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: Limited
  • Grant itemization coverage: Limited
  • 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: 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: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -1.9%; rating input score 30; 30th percentile among comparable filings
  • Total-asset coverage ratio: 0.36; rating input score 17; 17th percentile among comparable filings
  • Liabilities to assets ratio: 0.04; rating input score 54; 54th percentile among comparable filings
  • Officer compensation ratio: 10.8%; rating input score 34; 34th percentile among comparable filings

Growth

  • Program expense growth: 45.3% per year; rating input score 100; 95th percentile among comparable filings
  • Revenue growth: 19.5% per year; rating input score 100; 85th percentile among comparable filings
  • Asset growth: 19.3% per year; rating input score 100; 80th percentile among comparable filings

Details

  • Where the money goes: 79.1% of revenue deployed · 77.5% of spending went to programs
  • Governance: 16 of 16 board members independent · 2 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $1.2M in reported program spending
  • Leadership: top reported pay $164K · 14 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 26 of 26 current checks pass
  • Schedules: 5 filed schedules · includes major donors and executive pay
  • Filing history: 6 filing years from 2018 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Accountability: Governance controls: 6 of 8 not reported.
  • Moderate — Sustainability: Operating margin scored 30/100.
  • High — Sustainability: Total-asset coverage ratio scored 17/100.
  • Moderate — Sustainability: Officer compensation ratio scored 34/100.
  • Review — Sustainability: Liabilities to assets ratio scored 54/100.