2019-11-05T16:44:02-06:00 2018-12-31 410746749 CLIFTONLARSONALLEN LLP 901 N GLEBE ROAD SUITE 200 ARLINGTON VA 22203 990 2018-01-01 742385850 CERTIFIED FINANCIAL PLANNER BOARD OF STANDARDS INC CERT 2023792200 1425 K STREET NW NO 800 WASHINGTON DC 20005 ROGER C MYERS JR CHIEF FINANCIAL OFFICER 2023792200 2019-10-22 1 NATHANIEL BARTHOLOMEW P00007511 5712279500 67.137.57.251 2019-10-22 11:48:31 ED P 1938324BD4D887D076751857843371B82258E98C 1938324BD4D887D076751857843371B82258E98C 2018 2020-01-14 16:20:31Z KEVIN R KELLER 1425 K STREET NW NO 800 WASHINGTON DC 20005 42743561 0 X WWW.CFP.NET X 1985 DC BENEFIT THE PUBLIC BY GRANTING THE CFP CERTIFICATION FOR PERSONAL & ETHICAL FINANCIAL PLANNING. 15 15 83 175 309697 0 2771888 1987589 34233501 36977674 1178115 1086756 57389 51648 38240893 40103667 25000 25000 0 0 10437510 11917866 111471 118351 426949 25175181 26692897 35749162 38754114 2491731 1349553 51046878 51574170 20852306 23413805 30194572 28160365 X TO BENEFIT THE PUBLIC BY GRANTING THE CFP CERTIFICATION AND UPHOLDING IT AS THE RECOGNIZED STANDARD OF EXCELLENCE FOR COMPETENT AND ETHICAL PERSONAL FINANCIAL PLANNING. CFP BOARD'S CURRENT STRATEGIC PRIORITIES FOCUS ON THE FOUR A'S: GROWING AWARENESS OF THE CFP CERTIFICATION, EXPANDING ACCESS TO COMPETENT AND ETHICAL FINANCIAL PLANNING, ASSURING ACCOUNTABILITY BY HOLDING CFP PROFESSIONALS TO RIGOROUS STANDARDS, AND BY SERVING AS THE RESPECTED AUTHORITY FOR THE PROFESSION BY SETTING STANDARDS. 0 0 11597031 0 11597031 PUBLIC AWARENESS CAMPAIGN:ONE OF THE CFP BOARD'S STRATEGIC OUTCOMES IS TO BUILD THE PUBLIC AWARENESS OF THE CFP CERTIFICATION. IN PURSUIT OF THIS PRIORITY, CFP BOARD HAS DEVELOPED AND IMPLEMENTED A PUBLIC AWARENESS CAMPAIGN THAT INCLUDES A MIX OF CABLE TELEVISION, RADIO, SOCIAL MEDIA, ONLINE ADVERTISING AND SPONSORSHIPS. ADDITIONALLY, CFP BOARD IS MAINTAINING AND REGULARLY UPDATING RELEVANT CONTENT ON LETSMAKEAPLAN.ORG, A CONSUMER-TARGETED WEBSITE DEVELOPED TO INCREASE THE PUBLIC'S AWARENESS AND UNDERSTANDING OF THE VALUE OF FINANCIAL PLANNING AND HOW A CFP PROFESSIONAL CAN HELP IMPROVE FINANCIAL WELL-BEING. SINCE ITS LAUNCH IN 2011, OUR CAMPAIGN HAS INCREASED THE AWARENESS OF CFP CERTIFICATION AMONG OUR TARGET AUDIENCE WITH AN OVERWHELMING MAJORITY STATING THAT THEY HAVE HEARD OF THE DESIGNATION. 6868693 0 138582 COMMUNICATIONS AND OUTREACH:IN 2018 CFP BOARD COMMUNICATIONS AND OUTREACH INCLUDED PUBLIC RELATIONS, CFP PROFESSIONAL COMMUNICATIONS, PROVIDING EDUCATIONAL MATERIALS THROUGH CFP.NET AND LETSMAKEAPLAN.ORG WEBSITES AS WELL AS OTHER INITIATIVES TO INCREASE AND ENHANCE AWARENESS OF CFP CERTIFICATION AND THE BENEFITS OF FINANCIAL PLANNING. OUR EFFORTS UTILIZED EARNED AND SOCIAL MEDIA, OUR WEBSITES, DIRECT MAIL AND EMAIL, AND SPEAKING APPEARANCES TO EDUCATE THE PUBLIC ABOUT THE BENEFITS OF FINANCIAL PLANNING AND THE ROLE AND VALUE OF THE CFP PROFESSIONAL IN PROVIDING COMPETENT AND ETHICAL PERSONAL FINANCIAL PLANNING SERVICES THAT IS IN THEIR BEST INTEREST. WE ALSO REACHED OUT TO LOCAL MEDIA AND CONSUMER GROUPS THROUGH OUR BRAND AMBASSADOR PROGRAM TO COMMUNICATE THESE MESSAGES. 5548229 0 69750 PROFESSIONAL STANDARDS & LEGAL:AS A CONDITION TO CERTIFICATION, ALL CFP PROFESSIONALS AGREE TO ABIDE BY CFP BOARD'S STANDARDS OF PROFESSIONAL CONDUCT (STANDARDS), WHICH INCLUDES THE CODE OF ETHICS AND PROFESSIONAL RESPONSIBILITY, RULES OF CONDUCT AND FINANCIAL PLANNING PRACTICE STANDARDS. CFP BOARD PERIODICALLY REVIEWS THE STANDARDS TO MAINTAIN VALUE, INTEGRITY AND RELEVANCE OF THE CFP CERTIFICATION. IN 2018, THE BOARD OF DIRECTORS APPROVED CFP BOARD'S NEW CODE OF ETHICS AND STANDARDS OF CONDUCT (CODE AND STANDARDS). THE CODE AND STANDARDS BECOMES EFFECTIVE ON OCTOBER 1, 2019. ONCE APPROVED BY THE BOARD, THE ORGANIZATION FORMED A STANDARDS RESOURCE COMMISSION (SRC)TO DEVELOP GUIDANCE FOR CFP PROFESSIONALS AND THEIR FIRMS REGARDING THE CODE AND STANDARDS. THE SRC BEGAN TO PUBLISH GUIDANCE MATERIALS REGARDING THE CODE AND STANDARDS IN 2018, AND ITS WORK IS ONGOING. IN 2018, CFP BOARD DEVELOPED PROPOSED DISCIPLINARY RULES AND PROCEDURES THAT WOULD REPLACE THE CURRENT DISCIPLINARY RULES AND APPEALS RULES AND ISSUED THE PROPOSED PROCEDURAL RULES FOR PUBLIC COMMENT. AS A CONDITION OF CERTIFICATION, CFP PROFESSIONALS SUBMIT THEMSELVES TO POTENTIAL INVESTIGATION AND ENFORCEMENT ACTION. IN 2018, CFP BOARD STAFF OPENED 353 INVESTIGATIONS. OF THESE INVESTIGATIONS, CFP BOARD'S DISCIPLINARY AND ETHICS COMMISSION (DEC), A PEER-REVIEW BODY MADE UP OF CFP PROFESSIONALS AND PUBLIC MEMBERS, REVIEWED AND TOOK THE APPROPRIATE ACTION DURING 54 SUCH HEARINGS. CFP BOARD STAFF ALSO ISSUED 20 ADMINISTRATIVE REVOCATIONS IN 2018 (A REVOCATION OF THE CFP CERTIFICATION THAT OCCURS IF THE RESPONDENT FAILS TO RESPOND TO A COMPLAINT), WHICH BRINGS THE TOTAL NUMBER OF DISCIPLINARY ACTIONS TAKEN BY THE DEC AND CFP BOARD STAFF TO 67 IN 2018.ADDITIONALLY WORK WAS PERFORMED WITH RESPECT TO CHANGES TO CFP BOARD'S STANDARDS, THE DEVELOPMENT OF GUIDANCE MATERIALS AND ENFORCEMENT AND ADJUDICATION, CFP BOARD'S PROFESSIONAL STANDARDS & LEGAL DEPARTMENT REVIEWS, MONITORS AND ENFORCES CFP BOARD'S TRADEMARK RIGHTS; PERFORMS BACKGROUND CHECKS ON CANDIDATES FOR CFP CERTIFICATION, CFP PROFESSIONALS, THOSE SEEKING REINSTATEMENT OF THEIR CFP CERTIFICATION, AND CFP BOARD VOLUNTEERS; PROVIDES SUPPORT TO THE GOVERNANCE COMMITTEE OF THE BOARD OF DIRECTORS; CONDUCTS CONTRACT REVIEW SERVICES FOR CFP BOARD; MEETS WITH CFP BOARD'S BUSINESS MODEL COUNCIL; AND PROVIDES OTHER LEGAL ADVICE TO CFP BOARD AS NEEDED. 3580079 0 130176 CFP BOARD CENTER FOR FINANCIAL PLANNING:THE CFP BOARD CENTER FOR FINANCIAL PLANNING SEEKS TO CREATE A MORE DIVERSE AND SUSTAINABLE FINANCIAL PLANNING PROFESSION SO THAT EVERY AMERICAN HAS ACCESS TO COMPETENT AND ETHICAL FINANCIAL PLANNING ADVICE. THE CENTER BRINGS TOGETHER CFP PROFESSIONALS, FIRMS, EDUCATORS, RESEARCHERS AND EXPERTS TO ADDRESS PROFESSION-WIDE CHALLENGES WITHIN THREE FOCUS AREAS:TALENT PIPELINE: CULTIVATING A QUALITY WORKFORCE TO ENSURE THE FINANCIAL PLANNING PROFESSION CAN RECRUIT AND RETAIN TALENT TO SERVE THE PUBLIC; DIVERSITY AND INCLUSION: FOSTERING A MORE DIVERSE FINANCIAL PLANNER WORKFORCE THAT REFLECTS THE CHANGING DEMOGRAPHICS IN THE UNITED STATES; AND KNOWLEDGE FOR PRACTICE: ELEVATING THE DISCIPLINE OF FINANCIAL PLANNING TO INCREASE THE STATURE AND RECOGNITION OF FINANCIAL PLANNING FACULTY AND EDUCATIONAL PROGRAMS AND PROVIDE PRACTITIONERS WITH CUTTING-EDGE KNOWLEDGE TO THRIVE AND PROVIDE OUTSTANDING SERVICE TO THE PUBLIC. THE CENTER'S PROGRAMS ARE FUNDED PRIMARILY THROUGH VOLUNTARY DONATIONS RECEIVED FROM INDIVIDUAL DONORS AND CORPORATE SPONSORS. 2881860 25000 1973123 EDUCATION:THE FIRST STEP TO CFP CERTIFICATION IS TO ACQUIRE THE KNOWLEDGE REQUIRED TO DELIVER PROFESSIONAL, COMPETENT AND ETHICAL FINANCIAL PLANNING SERVICES TO CLIENTS, AS OUTLINED IN THE PERSONAL FINANCIAL PLANNING TOPIC AREAS IDENTIFIED BY CFP BOARD'S MOST RECENT JOB ANALYSIS RESEARCH. CFP BOARD'S EDUCATION COMPONENT REQUIRES THE COMPLETION OF A COLLEGE-LEVEL PROGRAM OF STUDY IN PERSONAL FINANCIAL PLANNING, INCLUDING COMPLETION OF A FINANCIAL PLAN DEVELOPMENT (CAPSTONE) COURSE. THE COURSE OF STUDY IS OFFERED AT APPROXIMATELY 200 REGIONALLY-ACCREDITED COLLEGES AND UNIVERSITIES IN THE U.S., AT DEGREE (BACHELORS, MASTERS, PH.D.) AND CERTIFICATE LEVELS. IN 2018, CFP BOARD REGISTERED OVER 310 FINANCIAL PLANNING PROGRAMS WHICH INCLUDED REVIEW OF THEIR CURRICULUM AND FACULTY QUALIFICATIONS TO ENSURE THAT THE TEACHING AND LEARNING MET ESTABLISHED STANDARDS. AFTER INITIAL CERTIFICATION, CFP PROFESSIONALS ARE REQUIRED TO COMPLETE 30 HOURS OF CONTINUING EDUCATION ("CE") AS PART OF THE BIENNIAL RENEWAL REQUIREMENT TO ASSURE THE PUBLIC OF CONTINUING COMPETENCY IN FINANCIAL PLANNING. CFP BOARD ANNUALLY REGISTERS APPROXIMATELY 1,300 CE SPONSORS, WHO ARE REQUIRED TO DELIVER HIGH QUALITY CONTENT DEVELOPED BY QUALIFIED INSTRUCTORS AND AUTHORS, ALIGNING WITH DEFINED FINANCIAL PLANNING TOPIC REQUIREMENTS. IN 2018, CFP BOARD REVIEWED AND APPROVED OVER 14,500 CE PROGRAMS WHICH MET ESTABLISHED REQUIREMENTS. 2690129 0 5900245 EXAMINATION:IN 2018, 8,561 CANDIDATES SAT FOR THE CFP EXAMINATION. THE CFP CERTIFICATION EXAMINATION ASSESSES A CANDIDATE'S ABILITY TO APPLY FINANCIAL PLANNING KNOWLEDGE, IN AN INTEGRATED FORMAT, TO REAL-LIFE FINANCIAL PLANNING SCENARIOS. THE EXAM IS DEVELOPED WITH SUBJECT MATTER EXPERTISE PROVIDED BY EXPERIENCED CFP PROFESSIONALS. UNDER CFP BOARD'S DIRECTION, THE EXAM IS ADMINISTERED BY ONE OF THE WORLD'S LEADING TESTING PARTNERS AND IS NOW, SINCE NOVEMBER 2014, DELIVERED IN A COMPUTER-BASED FORMAT. CFP BOARD ADHERES TO STANDARDS AND BEST PRACTICES IN THE HIGH STAKES TESTING AND CERTIFICATION INDUSTRIES. 1335729 0 0 PUBLIC ADVOCACY:ONE OF CFP BOARD'S CORE PUBLIC POLICY OBJECTIVES IS TO INFLUENCE POLICY TO BENEFIT THE PUBLIC AND TO INCREASE ACCESS TO COMPETENT AND ETHICAL FINANCIAL PLANNING. DURING 2018, CFP BOARD ANNOUNCED A NEW CODE OF ETHICS & STANDARDS OF CONDUCT (EFFECTIVE JUNE 30, 2019) AND ADVOCATED FOR A FIDUCIARY STANDARD AT THE FEDERAL LEVEL. CFP BOARD MONITORED LEGISLATIVE AND REGULATORY ACTIVITIES RELATED TO THE CERTIFICATION AT THE LOCAL, STATE AND FEDERAL LEVELS. 468670 0 16910718 CERTIFICATION:THERE WERE 83,106 CFP PROFESSIONALS AT THE END OF 2018, OF WHICH 4,803 WERE GRANTED INITIAL CERTIFICATION DURING THE YEAR. SUCCESSFUL COMPLETION OF THE EXAMINATION, EDUCATION, EXPERIENCE, AND ETHICS REQUIREMENTS IS A PREREQUISITE TO INITIAL CFP CERTIFICATION. CFP BOARD'S CERTIFICATION PROGRAM IS ACCREDITED BY AN INDEPENDENT THIRD-PARTY ORGANIZATION, THE NATIONAL COMMISSION FOR CERTIFYING AGENCIES (NCCA), TO ENSURE THAT ALL REQUIREMENTS FOR INITIAL CERTIFICATION AND RENEWAL ARE CONSISTENT WITH BEST PRACTICES AND STANDARDS IN THE CERTIFICATION INDUSTRY. FURTHER, NCCA REQUIRES CERTIFYING ORGANIZATIONS TO MEET GOVERNANCE, STAFF QUALIFICATION, FINANCIAL AND RESOURCE TRANSPARENCY, FAIRNESS, DUE PROCESS AND NON-DISCRIMINATION STANDARDS. 10956467 25000 24914262 34970420 1 1 0 1 0 0 0 0 1 0 1 1 0 0 1 1 1 0 0 0 0 0 0 1 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 70 0 83 1 1 1 0 0 0 0 0 0 0 1 0 0 0 X 15 15 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X ROGER C MYERS JR 2023792260 1425 K STREET NW SUITE 800 WASHINGTON DC 20005 RICHARD C SALMEN BOARD CHAIR 5.00 X 0 0 0 JACK BROD BOARD MEMBER 5.00 X 0 0 0 JEFF FARRAR BOARD MEMBER 5.00 X 0 0 0 DENISE VOIGT CRAWFORD BOARD MEMBER 5.00 X 0 0 0 CHARLIE FITZGERALD III BOARD MEMBER 5.00 X 0 0 0 DOUG KING BOARD MEMBER 5.00 X 0 0 0 PEGGY RUHLIN BOARD MEMBER 5.00 X 0 0 0 K DANE SNOWDEN BOARD MEMBER 5.00 X 0 0 0 NEAL J SOLOMON BOARD MEMBER 5.00 X 0 0 0 SUSAN BARAN BOARD MEMBER 5.00 X 0 0 0 PHIL CUNNINGHAM BOARD MEMBER 5.00 X 0 0 0 ED MOORE BOARD MEMBER 5.00 X 0 0 0 SUSAN JOHN BOARD CHAIR ELECT 5.00 X 0 0 0 MARTIN SCHAMIS BOARD MEMBER 5.00 X 0 0 0 ARLENE PIETRANTON BOARD MEMBER 5.00 X 0 0 0 KEVIN KELLER CHIEF EXECUTIVE OFFICER 45.00 X 790903 0 162568 ROGER MYERS JR CHIEF FINANCIAL OFFICER 45.00 X 417820 0 114791 LEO RYDZEWSKI GENERAL COUNSEL 45.00 X 481941 0 104640 ELIZABETH STEWART CHIEF OPERATING OFFICER 45.00 X 327457 0 117278 MAUREEN THOMPSON VICE PRESIDENT OF PUBLIC POLICY 45.00 X 304623 0 105108 MARILYN MOHRMAN-GILLIS MANAGING DIRECTOR 45.00 X 423137 0 113994 JOSEPH MAUGERI MANAGING DIRECTOR 45.00 X 311290 0 89462 JOHN LOPER MANAGING DIRECTOR 45.00 X 248689 0 36851 DAN DRUMMOND DIRECTOR 45.00 X 202147 0 29664 LEO KANE DIRECTOR 45.00 X 195742 0 28158 ADAM ZAJAC DIRECTOR 45.00 X 202801 0 25474 ROCHELLE ZEIDMAN MANAGING DIRECTOR 45.00 X 229751 0 29748 4136301 0 957736 23 0 1 0 WHITE 64 7940 JONES BRANCH DRIVE MCLEAN VA 22102 ADVERTISING 9763601 PROMETRIC INC 1501 SOUTH CLINTON STREET BALTIMORE MD 21224 TESTING SERVICES 1162028 MARKETING GENERAL INC 625 NORTH WASHINGTON STREET SUITE 4 ALEXANDRIA VA 22314 MARKETING SERVICES 1017780 GRAVITATE SOLUTIONS 625 NORTH WASHINGTON STREET SUITE 3 ALEXANDRIA VA 22314 IT CONSULTING 662666 HIGHER LOGIC PO BOX 645579 PITTSBURGH PA 15264 ONLINE FORUM PLATFORM 584250 30 1987589 15078 1987589 CERTIFICATION FEES 900099 16312723 16312723 PUBLIC AWARENESS FEES 900099 11597031 11597031 EXAM FEES 900099 5900245 5900245 EDUCATIONAL FEES 900099 2095055 2095055 CAREER CENTER FEES 900099 309697 309697 762923 762923 36977674 1034022 1034022 8244 8244 2655242 2602508 52734 52734 52734 80790 37386 43404 43404 40103667 36719625 309697 1086756 X 25000 25000 3765012 3256928 438906 69178 6697342 5893563 716635 87144 440018 381501 53778 4739 554173 434844 51295 68034 461321 387804 64603 8914 626257 590286 29344 6627 73844 47866 25978 118351 118351 66341 66341 6094653 5566095 503899 24659 10374656 10374545 111 3431141 3298281 129606 3254 348464 230170 118294 1332477 863721 468756 1131590 1010024 104460 17106 954199 870864 78450 4885 1209102 996756 198481 13865 192853 125009 67844 PROFESSIONAL DUES 492350 331854 160496 PROFESSIONAL DEVELOPMEN 233370 165302 68068 RECOGNITION AWARDS 122035 110688 11265 82 9565 9319 246 38754114 34970420 3356745 426949 X 1153578 820717 0 332861 9415530 8325758 13531 2029374 2876413 2794767 158358 160737 416159 439706 11949374 8202143 4226229 3747231 26933170 26635503 5013274 5041128 1994214 2399966 51046878 51574170 3561557 4251356 11858112 13391948 7768 10003 5424869 5760498 20852306 23413805 X 27045330 25499060 3149242 2661305 30194572 28160365 51046878 51574170 X 1349553 -3340985 -42775 X 0 1 X 1 0 X 2926779 2147466 2771888 1987589 9833722 28145644 30642973 32647322 34316110 36756991 162509040 28145644 33569752 34794788 37087998 38744580 172342762 369847 457333 41000 868180 0 369847 457333 41000 868180 171474582 870379 516505 507931 791514 1034022 3720351 870379 516505 507931 791514 1034022 3720351 29016023 34086257 35302719 37879512 39778602 176063113 0.97390 0.97410 0.02110 0.02060 X 165221 165221 38126616 38291837 1000000 250000 0 0 1000000 1000000 1000000 1000000 4000000 6000000 42317 39158 60765 165221 307461 250000 250000 250000 250000 1000000 1500000 0 7768 2235 10003 1 X 3125968 1573953 1552015 1381724 998349 383375 7441682 5629841 1811841 3747231 ARCHIPELAGO HOLDINGS 1403669 F NYES LEDGE CAPITAL FUND 3637459 F 5041128 DEFERRED RENT 1459768 CAPITAL LEASE OBLIGATION 73788 DEFERRED COMPENSATION 2874647 DEFERRED LIABILITY - TENANT FINISH ALLOWANCE 1352295 5760498 X 36733727 -3340985 37386 -3303599 40037326 66341 66341 40103667 38767934 80161 80161 38687773 66341 66341 38754114 PART IV, LINE 2B: THE CFP BOARD OF STANDARDS IS THE CUSTODIAN OF A SCHOLARSHIP FUND SETUP TO HELP AWARDEES PAY FOR EDUCATION COURSEWORK NEEDED FOR THE CFP EXAM AND TO BECOME A CFP PROFESSIONAL. TOM MOSER SCHOLARSHIP FUND PAYS OUT CERTIFICATION AND EXAM EXPENSES TO SCHOLARSHIP RECIPIENT ON BEHALF OF CORPORATE DONOR. PART X, LINE 2: UNDER PROVISIONS OF THE IRC SECTION 501(C)(3), AND APPLICABLE STATE REGULATIONS, CFP BOARD IS EXEMPT FROM TAXES EXCEPT FOR UNRELATED BUSINESS INCOME. FOR FINANCIAL STATEMENT PURPOSES CFP BOARD IS REQUIRED TO RECORD A LIABILITY FOR ANY MATERIAL TAX POSITION TAKEN WHICH DOES NOT MEET THE MINIMUM THRESHOLDS OF "MORE LIKELY THAN NOT" TO BE SUCCESSFUL UNDER REGULATORY CHALLENGE. NO PROVISION FOR INCOME TAXES HAS BEEN RECORDED IN 2018 AND 2017, SINCE MANAGEMENT BELIEVES THERE ARE NO MATERIAL UNRELATED BUSINESS INCOME OR MATERIAL UNCERTAIN TAX POSITIONS REQUIRING THE RECOGNITION OF A LIABILITY. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 37,386. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 37,386. INCREASE IN ALLOWANCE FOR UNCOLLECTIBLES 42,775. X X X X 1 LAVIGNA CONSULTING 13750 WEST COLONIA DRIVE SUITE 350 WINTER GARDEN FL 34787 CONSULTING 0 1987589 189143 1798446 1987589 189143 1798446 AL AK CA CT FL GA HI IL KS KY MD MA MI MN MS NH NJ NM NY NC OK OR PA RI SC TN UT VA WV WI 1 FINANCIAL PLANNING ASSOCIATION 7535 EAST HAMPDEN AVENUE SUITE 60 DENVER CO 80231 841521488 501(C)(6) 25000 TO PARTIALLY FUND THE FINANCIAL PLANNING CHALLENGE AT THE ANNUAL FPA CONFERENCE. 1 PART I, LINE 2: ANNUAL GRANT TO THE FINANCIAL PLANNING ASSOCATION (FPA) TO PARTIALLY FUND "THE FINANCIAL PLANNING CHALLENGE" HELD AT THE ANNUAL FPA CONFERENCE TO SUPPORT THE NEXT GENERATION OF FINANCIAL PLANNERS. ENGAGING STUDENTS AND PROGRAM DIRECTORS IN THE FINANCIAL PLANNING COMMUNITY, RAISING AWARENESS OF CAREER OPPORTUNITIES, AND ENCOURAGING LEARNING AND NETWORKING IN THE FINANCIAL PLANNING PROFESSION. X X X X X X 0 1 0 0 0 0 0 0 0 KEVIN KELLER CHIEF EXECUTIVE OFFICER 536515 0 254388 0 0 0 135000 0 27568 0 953471 0 0 0 ROGER MYERS JR CHIEF FINANCIAL OFFICER 315361 0 65000 0 37459 0 99233 0 15558 0 532611 0 37459 0 LEO RYDZEWSKI GENERAL COUNSEL 411941 0 70000 0 0 0 100472 0 4168 0 586581 0 0 0 ELIZABETH STEWART CHIEF OPERATING OFFICER 279457 0 48000 0 0 0 100750 0 16528 0 444735 0 0 0 MAUREEN THOMPSON VICE PRESIDENT OF PUBLIC POLICY 260873 0 43750 0 0 0 99865 0 5243 0 409731 0 0 0 MARILYN MOHRMAN-GILLIS MANAGING DIRECTOR 324273 0 55000 0 43864 0 97498 0 16496 0 537131 0 43684 0 JOSEPH MAUGERI MANAGING DIRECTOR 231952 0 45000 0 34338 0 74857 0 14605 0 400752 0 34338 0 JOHN LOPER MANAGING DIRECTOR 216689 0 32000 0 0 0 23837 0 13014 0 285540 0 0 0 DAN DRUMMOND DIRECTOR 182203 0 19944 0 0 0 13062 0 16602 0 231811 0 0 0 LEO KANE DIRECTOR 177420 0 18322 0 0 0 12223 0 15935 0 223900 0 0 0 ADAM ZAJAC DIRECTOR 180387 0 22414 0 0 0 11373 0 14101 0 228275 0 0 0 ROCHELLE ZEIDMAN MANAGING DIRECTOR 204751 0 25000 0 0 0 23068 0 6680 0 259499 0 0 0 PART I, LINE 4B PART I, LINE 4B - 457(F) PLAN - ALL APPROVED EXECUTIVES PARTICIPATE IN THE PLAN. A NON-QUALIFIED DEFERRED COMPENSATION PLAN IS MAINTAINED IN ACCORDANCE WITH SECTION 457(F) OF THE INTERNAL REVENUE CODE FOR THE BENEFIT OF THE ORGANIZATION'S CHIEF EXECUTIVE OFFICER (CEO) AND APPROVED EXECUTIVES. UNDER THE TERMS OF THE PLAN, BEGINNING JANUARY 1 OF EACH CALENDAR YEAR, EXECUTIVE TEAM MEMBERS WHO HAVE COMPLETED ONE FULL CALENDAR YEAR OF EMPLOYMENT MAY EARN A COMPENSATION AWARD AS DETERMINED BY THE CEO. THE CEO MAY EARN AN ADDITIONAL AMOUNT AS DETERMINED BY THE BOARD OF DIRECTORS. THE CEO'S DEFERRED COMPENSATION IS VESTED AND PAID OUT IN ACCORDANCE WITH THE TERMS OF HIS CONTRACT. EACH DEFERRED COMPENSATION AWARD FOR ALL OTHER APPROVED EXECUTIVES IS GENERALLY VESTED THREE YEARS FROM THE GRANT DATE. UPON VESTING THE AWARD IS PAID OUT TO THE EXECUTIVE. THE FOLLOWING ELT MEMBERS PARTICIPATED IN THE PLAN: NAME TITLE AMOUNT KEVIN R. KELLER CHIEF EXECUTIVE OFFICER $100,000 LEO RYDZEWSKI GENERAL COUNSEL $75,000 ROGER MYERS CHIEF FINANCIAL OFFICER $75,000 ELIZABETH STEWART CHIEF OPERATING OFFICER $75,000 MAUREEN THOMPSON VP OF PUBLIC POLICY $75,000 MARILYN MOHRMAN-GILLIS MANAGING DIRECTOR $50,000 JOSEPH MAUGERI MANAGING DIRECTOR $55,000 THE FOLLOWING MEMBERS RECEIVED A 457F CASH DISTRIBUTION: NAME TITLE AMOUNT ROGER MYERS CHIEF FINANCIAL OFFICER $37,459 MARILYN MOHRMAN-GILLIS MANAGING DIRECTOR $43,864 JOSEPH MAUGERI MANAGING DIRECTOR $34,338 FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY THE CPA FIRM CLIFTONLARSONALLEN LLP WITH SIGNIFICANT INPUT FROM CFP BOARD MANAGEMENT. IT IS THEN REVIEWED BY THE AUDIT COMMITTEE. ONCE THE AUDIT COMMITTEE HAS APPROVED, IT IS PROVIDED TO THE BOARD OF DIRECTORS. THE FORM 990 IS REVIEWED IN ITS ENTIRETY BY THE BOARD OF DIRECTORS PRIOR TO ITS FILING. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY (THE "POLICY") APPLIES TO (1) CFP BOARD'S CORPORATE OFFICERS AND (2) MEMBERS OF, AND THOSE WHO OTHERWISE VOLUNTEER FOR, ANY OF THE FOLLOWING BODIES:(A) CFP BOARD'S BOARD OF DIRECTORS,(B) BOARD COMMITTEES AND TASK FORCES, AND (C) CEO COUNCILS, COMMISSIONS, COMMITTEES, AND WORKING GROUPS (EACH INDIVIDUALLY A "RESPONSIBLE PERSON"). EACH RESPONSIBLE PERSON MUST COMPLETE, TO THE BEST OF THE RESPONSIBLE PERSON'S KNOWLEDGE, CFP BOARD'S CONFLICTS QUESTIONNAIRE AND DISCLOSURE STATEMENT ("DISCLOSURE STATEMENT") PRIOR TO THE COMMENCEMENT OF SERVICE, AND ANNUALLY THEREAFTER. EACH RESPONSIBLE PERSON HAS A CONTINUING OBLIGATION TO IDENTIFY AND DISCLOSE, TO THE BEST OF THE RESPONSIBLE PERSON'S KNOWLEDGE, ANY ACTUAL OR POTENTIAL CONFLICT OF INTEREST AS SOON AS THEY ARE KNOWN OR REASONABLY SHOULD BE KNOWN, REGARDLESS OF WHETHER THE ACTUAL OR POTENTIAL CONFLICT OF INTEREST MAY BENEFIT THE RESPONSIBLE PERSON, FAMILY MEMBER, OR RELATED ENTITY AS THOSE TERMS ARE DEFINED IN THE POLICY. A RESPONSIBLE PERSON MUST PROVIDE A SUPPLEMENTAL WRITTEN DISCLOSURE STATEMENT TO CFP BOARD'S GENERAL COUNSEL WHENEVER AN ACTUAL OR POTENTIAL CONFLICT OF INTEREST ARISES THAT HAS NOT PREVIOUSLY BEEN DISCLOSED. EACH BOARD MEMBER ALSO MUST INFORM THE BOARD OF ANY ACTUAL OR POTENTIAL CONFLICT OF INTEREST THAT MAY EXIST WITH ANOTHER BOARD MEMBER. IF A RESPONSIBLE PERSON BECOMES AWARE THAT CFP BOARD IS CONSIDERING A CONFLICTING INTEREST TRANSACTION, AS THAT TERM IS DEFINED IN THE POLICY, WITH THE RESPONSIBLE PERSON OR A FAMILY MEMBER OR RELATED ENTITY, THE RESPONSIBLE PERSON MUST (A) IMMEDIATELY INFORM THE GOVERNANCE COMMITTEE OR THE CEO, AND (B) NOT PARTICIPATE IN, OR ATTEMPT TO EXERT INFLUENCE WITH RESPECT TO, CFP BOARD'S CONSIDERATION OF THE CONFLICTING INTEREST TRANSACTION. THE GOVERNANCE COMMITTEE, WHICH IS COMPOSED OF AT LEAST THREE DIRECTORS, IS RESPONSIBLE FOR REVIEWING COMPLETED DISCLOSURE STATEMENTS SUBMITTED BY CFP BOARD'S CORPORATE OFFICERS AND MEMBERS OF, AND THOSE WHO OTHERWISE VOLUNTEER FOR, THE BOARD (INCLUDING THE CEO), BOARD COMMITTEES, AND BOARD TASK FORCES (A "BOARD VOLUNTEER"), AND DETERMINING WHETHER AN ACTUAL OR PERCEIVED CONFLICT OF INTEREST EXISTS. THE GOVERNANCE COMMITTEE MAY DELEGATE TO STAFF RESPONSIBILITY FOR CONDUCTING THE INITIAL REVIEW OF THE DISCLOSURE STATEMENTS. IF THE GOVERNANCE COMMITTEE DETERMINES THAT AN ACTUAL OR PERCEIVED CONFLICT OF INTEREST EXISTS WITH RESPECT TO THE CEO OR A BOARD VOLUNTEER, THE GOVERNANCE COMMITTEE MAKES A RECOMMENDATION TO THE BOARD AND THE BOARD DETERMINES THE APPROPRIATE COURSE OF ACTION THAT IS FAIR TO CFP BOARD. IF THE GOVERNANCE COMMITTEE DETERMINES THAT AN ACTUAL OR PERCEIVED CONFLICT OF INTEREST EXISTS WITH RESPECT TO ANY OTHER CORPORATE OFFICER, THE GOVERNANCE COMMITTEE DETERMINES THE APPROPRIATE COURSE OF ACTION, SUBJECT TO THE REQUIREMENT THAT THE CEO AND ANOTHER DISINTERESTED CORPORATE OFFICER MUST APPROVE A CONFLICTING INTEREST TRANSACTION INVOLVING ANY OTHER CORPORATE OFFICER. THE GOVERNANCE COMMITTEE REPORTS TO THE BOARD OF DIRECTORS AT ITS NEXT REGULAR MEETING THE RESULTS OF ANY REVIEW OF ANY ACTUAL OR POTENTIAL CONFLICT OF INTEREST AND THE ACTION TAKEN. THE GOVERNANCE COMMITTEE ALSO SUBMITS AN ANNUAL REPORT TO THE BOARD OF DIRECTORS ON THE POTENTIAL CONFLICTS OF INTERESTS THAT IT REVIEWED DURING THE PRIOR YEAR, BUT DETERMINED WERE NOT ACTUAL OR PERCEIVED CONFLICTS OF INTEREST. THE CEO OR THE CEO'S DESIGNEE IS RESPONSIBLE FOR REVIEWING COMPLETED DISCLOSURE STATEMENTS SUBMITTED BY MEMBERS OF, AND THOSE WHO OTHERWISE VOLUNTEER FOR, CEO COUNCILS, COMMISSIONS, COMMITTEES, AND WORKING GROUPS (A "CEO VOLUNTEER"), AND DETERMINING WHETHER AN ACTUAL OR PERCEIVED CONFLICT OF INTEREST EXISTS. IF THE CEO OR THE CEO'S DESIGNEE DETERMINES THAT AN ACTUAL OR PERCEIVED CONFLICT OF INTEREST EXISTS WITH RESPECT TO A CEO VOLUNTEER, THE CEO OR THE CEO'S DESIGNEE DETERMINES THE APPROPRIATE COURSE OF ACTION, SUBJECT TO THE REQUIREMENT THAT THE CEO AND ANOTHER DISINTERESTED CORPORATE OFFICER MUST APPROVE A CONFLICTING INTEREST TRANSACTION INVOLVING A CEO VOLUNTEER. THE CEO REPORTS TO THE BOARD OF DIRECTORS AT ITS NEXT REGULAR MEETING THE RESULTS OF ANY REVIEW OF ANY ACTUAL OR POTENTIAL CONFLICT OF INTEREST AND THE ACTION TAKEN. THE CEO ALSO SUBMITS AN ANNUAL REPORT TO THE BOARD OF DIRECTORS ON THE POTENTIAL CONFLICTS OF INTERESTS THAT THE CEO REVIEWED DURING THE PRIOR YEAR, BUT DETERMINED WERE NOT ACTUAL OR PERCEIVED CONFLICTS. PROCEEDINGS RELATED TO POTENTIAL AND ACTUAL CONFLICTS OF INTEREST ARE DOCUMENTED IN MEETING MINUTES AND ANNUAL REPORTS. FORM 990, PART VI, SECTION B, LINE 15 THE CEO OVERSIGHT COMMITTEE ESTABLISHES AND MONITORS CEO COMPENSATION TO ENSURE THAT IT IS COMPETITIVE WITH OTHER NON-PROFIT INSTITUTIONS THAT FOCUS ON FINANCIAL SERVICES, LOCATED IN WASHINGTON, DC. THE COMMITTEE CONSISTS OF MEMBERS OF THE BOARD OF DIRECTORS AND DOES NOT INCLUDE THE CEO. THE COMMITTEE ENGAGED A COMPENSATION CONSULTANT TO EVALUATE THE CURRENT CEO SALARY AND STRUCTURE. THE CONSULTANT UTILIZED COMPARABLE DATA IN ORDER TO SUBSTANTIATE THEIR SALARY RECOMMENDATIONS FOR THE CEO. THIS PROCESS RECENTLY TOOK PLACE IN 2018. THE CEO ENGAGES A COMPENSATION CONSULTANT TO REVIEW AND EVALUATE OTHER OFFICER AND KEY EMPLOYEE SALARIES. THE CONSULTANT UTILIZED COMPARABLE DATA IN ORDER TO SUBSTANTIATE THEIR SALARY RECOMMENDATIONS FOR OTHER OFFICER AND KEY EMPLOYEE SALARIES. THIS PROCESS RECENTLY TOOK PLACE IN 2017. FORM 990, PART VI, SECTION C, LINE 19 CFP BOARD'S BYLAWS ARE AVAILABLE FOR DOWNLOAD FROM THE ORGANIZATION'S WEBSITE. FORM 990, PART IX, LINE 11G OUTSIDE SERVICES: PROGRAM SERVICE EXPENSES 899,755. MANAGEMENT AND GENERAL EXPENSES 211,088. FUNDRAISING EXPENSES 824. TOTAL EXPENSES 1,111,667. PROFESSIONAL SERVICES: PROGRAM SERVICE EXPENSES 3,682,360. MANAGEMENT AND GENERAL EXPENSES 197,400. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 3,879,760. RECRUITMENT ADVERTISING: PROGRAM SERVICE EXPENSES 80,625. MANAGEMENT AND GENERAL EXPENSES 42,118. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 122,743. RESEARCH: PROGRAM SERVICE EXPENSES 419,411. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 419,411. TEMPORARY LABOR: PROGRAM SERVICE EXPENSES 483,944. MANAGEMENT AND GENERAL EXPENSES 53,293. FUNDRAISING EXPENSES 23,835. TOTAL EXPENSES 561,072. FORM 990, PART XI, LINE 9: INCREASE IN ALLOWANCE FOR UNCOLLECTIBLES -42,775.