The Boston Chapter of the Financial Managers Society Inc
Nonprofit profile at a glance
- EIN
- 223021949
- IRS 990-EZ coverage
- 2020–2023
- Forms available
- Form 990-EZ 2023
- Location
- Boston, MA, USA
- Phone
- 3125211473
- Rating
- 37
- Verdict
- REVIEW
- Rating confidence
- Moderate
Reported finances
- Revenue
- $14,805
- Expenses
- $36,874
- Assets
- $81,144
- Liabilities
- $0
Source: IRS Form 990-EZ. Selected filing: tax year 2023. Amounts in USD.
Leadership & pay
6 people listed
Executive titles in this filing
- ANDREW BILLETER (PAST PRESIDENT)
- JAMES DOWLING (PRESIDENT)
People named in this filing
- LISA OPENSHAW (TREASURER)
- ANDREW BILLETER (PAST PRESIDENT)
- JAMES DOWLING (PRESIDENT)
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 2023. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
1. To study operations, financial management, systems, procedures, accounting, internal auditing, risk management or data processing techniques used by financial institutions and to devise ways and means of improving same.2. To promote high standards of practice in operations, systems, procedures, financial management accounting, internal auditing, risk management or data processing.3. To further the professional development of operations and financial professionals employed by financial institutions, and supportive organizations.4. To provide a forum for the sharing of experience among operations and financial professionals employed by financial institutions and supportive organizations.5. To promote the fms and its activities on a local level, to cooperate with the fms in attaining and furthering it's goals and the common goals of the fms and it's chapters, and to provide prospective members for the fms, inc.
What it reported doing in 2023
Provided continuing education and networking to our members by conducting 6 training seminars with 30 participants on average and co-sponsoring 1 joint training seminar event with over 50 attendees.
Operating model
- Revenue model
- Earned-program. 100% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Transfer-based 990-EZ. The 990-EZ reports grants or member benefits, but it does not separate enough spending to show the nonprofit’s full delivery mix.
The verdict
REVIEW - The filed numbers largely add up. A relatively small share of available resources goes toward mission work and revenue has declined or grown slowly.
Rating breakdown
- Financial Efficiency: 4
- Transparency & Controls: 82
- Sustainability: 37
- Growth: 0
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 6.8%; rating input score 7
- Program expense ratio: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
- Major donor itemization: Limited
Sustainability
- Operating margin: -149.1%; rating input score 6; 6th percentile among comparable filings
- Total-asset coverage ratio: 2.2; rating input score 67; 67th percentile among comparable filings
- Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: -1.8% per year; rating input score 0; 46th percentile among comparable filings
- Asset growth: -21.1% per year; rating input score 0; 10th percentile among comparable filings
Details
- Where the money goes: 6.8% of revenue deployed
- Governance: Filed governance answers
- Accomplishments: 2 filed program accomplishments
- Leadership: top reported pay $0 · 6 people listed
- Consistency: 7 of 7 current checks pass
- Schedules: 1 filed schedules
- Filing history: 4 filing years from 2020 to 2023
- 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.
Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.
- High — Financial Efficiency: Mission deployment rate scored 7/100.
- High — Growth: Revenue growth scored 0/100.
- High — Sustainability: Operating margin scored 6/100.
- High — Growth: Asset growth scored 0/100.
- Review — Sustainability: Officer compensation ratio scored 56/100.
- High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.