2018-11-15T12:07:11-06:00 2018-06-30 WithumSmithBrown PC ONE TOWER CENTER BLVD 14TH FL EAST BRUNSWICK NJ 08816 990 2017-07-01 131981932 Financial Executives International % MARIA O'GRADY FINA 9737651015 1250 HEADQUARTERS PLAZA W TOWER MORRISTOWN NJ 07960 ANDREJ S SUSKAVCEVIC PRESIDENT & CEO 9737651015 2018-11-15 true ANTHONY J PANICO P00365556 7328281614 148.77.36.74 22006220183195000196 2018-11-15 P 9B54B0364DE38D73E00BB3E082ABCAC755DC14E9 082E2311302191F55D0415F63BDE2ABE529C36FD 2017 2018-06-14 16:35:46Z ANDREJ S SUSKAVCEVIC 1250 HEADQUARTERS PLAZA MORRISTOWN NJ 07960 7603411 false X WWW.FINANCIALEXECUTIVES.ORG X 1931 DC TO ADVANCE THE SUCCESS OF SENIOR-LEVEL FINANCIAL EXECUTIVES, THEIR ORGANIZATIONS AND THE PROFESSION. 18 17 33 18 15546 3532202 3298019 2307862 2763524 45010 254560 152624 20945 6037698 6337048 0 0 0 0 3106318 2977574 0 0 0 2806049 3183606 5912367 6161180 125331 175868 5817385 6011598 5731504 5578014 85881 433584 X Mission ======= FEIs mission is to advance the success of senior-level financial executives, their organizations and the profession. FEI strives to be recognized globally as the leading organization for senior-level financial executives. Since 1931, FEI has been connecting members through: - Interaction: providing local and international forums for connecting with peers. - Information: providing insight to assist with informed business decisions. - Influence: providing authoritative representation for members interests. - Integrity: providing the tools to advance the profession through ethical leadership. History ======= FEI was founded in 1931 as the Controllers Institute of America. The expansion of responsibilities of financial executives into policy-making areas led us to change our name to Financial Executives Institute in 1962. As the global economy developed, FEI was the driving force in forming the International Association of Financial Executives Institutes in 1969. On Novembe false false Every business morning, FEI Daily(https://financialexecutives.org/fei-daily) provides readers with analysis of industry and regulatory trends, and features that keep readers up-to-date, well-informed, and better able to tackle the challenges of their demanding jobs. The home page provides at-a-glance news and information reflecting the latest developments in financial reporting, governance and other critical topics for financial executives. The FEI Daily "Alert" provides readers with the "5 Things You Need To Readis published Monday through Friday to over 3,600 READERS WITH A SPECIAL FRIDAY "ROUND-UP" EDITION THAT IS PUBLISHED TO OVER 12,200 READERS. IN SEPTEMBER, WE LAUNCHED FEI FORWARD, AN EXTENSION OF FEI DAILY. THIS WEEKLY E-COMMUNICATION, DISTRIBUTED EVERY SUNDAY EVENING TO OVER 12,000 SUBSCRIBERS, ALLOWS FOR MEMBERS TO PLAN FOR THE WEEK BY REVIEWING WHAT'S UPCOMING AND IMPORTANT AS DETERMINED BY FEI'S EDITORIAL STAFF. Held two major conferences, twelve regional events and deep-dive technical training courses and 100 webinars attended by over 5,500 registrants with our marketing partners to further the professional development and growth of our members and other attendees. Our Technical Committee members led the associations advocacy efforts with 21 meetings in the fiscal year, offering technical advice, commentary and policy recommendations on legislation, regulatory proposals and accounting standard updates. Conducted 34 virtual and in-person Chapter Leadership Events which includes a Leadership Day at the Annual Financial Leadership Summit to strengthen and develop Board and Chapter Leadership. false false false true false false false false false true false false false true true false true false false false false false false false false false false false true false false false false false false false false false false false true false false true 11 0 true 33 true true true false false false false false X 18 17 false false true false true true true true true false true true true true true true true true true true false X MARIA O'GRADY 9737651060 1250 HEADQUARTERS PLAZA WEST TOWER MORRISTOWN NJ 07960 John G Panetta Sr Chair - DIRECTOR 1.0 0.0 X X 0 0 0 Ellen RM Boyer Vice Chair - DIRECTOR 1.0 0.0 X X 0 0 0 Andreas Rothe Treasurer - DIRECTOR 1.0 0.0 X X 0 0 0 Linda Zukauckas Secretary - DIRECTOR 1.0 0.0 X X 0 0 0 Deborah Adkins CPA CFF CGMA Director 1.0 0.0 X 0 0 0 Asa Beck CPA Director 1.0 0.0 X 0 0 0 Prat Bhatt Immediate Past Chair -DIRECTOR 1.0 0.0 X 0 0 0 Howard Bornstein Director 1.0 0.0 X 0 0 0 Gary Correia Director 1.0 0.0 X 0 0 0 Tim Hart Director 1.0 0.0 X 0 0 0 Alice Jolla Director 1.0 0.0 X 0 0 0 Bret Lawson Director 1.0 0.0 X 0 0 0 Kevin McBride Director 1.0 0.0 X 0 0 0 Liesl Nebel Director 1.0 0.0 X 0 0 0 Loren Mahon Director 1.0 0.0 X 0 0 0 Megan Robinson Director 1.0 0.0 X 0 0 0 Mahesh Shetty Director 1.0 0.0 X 0 0 0 Andrej S Suskavcevic CAE DIRECTOR - President & CEO 53.0 2.0 X X 359213 0 42698 Liliana Devita Vice President & COO 53.0 2.0 X 166237 0 36202 Maria O'Grady Vice President & CFO 53.0 2.0 X 134462 0 11523 Christopher Westfall Vice President, Content 45.0 0.0 X 127049 0 30066 Brian P Cove Managing Director, Tech 45.0 0.0 X 119995 0 25156 Stuart Williams Senior Manager, IT/Website 45.0 0.0 X 105963 0 26351 Patricia A Marrese Director, Professional Dev. 45.0 0.0 X 104507 0 10620 Dianora DeMarco Manager, Accounting Policy 45.0 0.0 X 101620 0 10393 1219046 0 193009 9 false true false Burst Learning 1771 Ministerial Road WAKEFIELD RI 02879 Education 248172 Ernst Young LLP PO Box 640382 PITTSBURGH PA 152640382 ACCOUNTING FELLOW 130008 2 3298019 3298019 STRATEGIC PARTNERSHIPS & SPONSORS 900099 551250 551250 PROFESSIONAL DEVELOPMENT 541800 2008592 2008592 OTHER PROGRAM RELATED REVENUE 900099 203682 203682 2763524 133923 133923 0 5399 5399 0 0 0 1387000 1266363 120637 120637 120637 0 0 0 0 0 0 0 0 0 JOB POSTINGS 900099 15546 15546 15546 6337048 2763524 15546 259959 0 0 0 0 750335 0 1744131 84569 154895 243644 0 35959 44170 12000 0 0 472703 0 0 0 154976 103995 173303 0 583105 164013 0 1460678 0 0 170263 23697 EMPLOYEE TRAINING 39808 0 0 0 RESEARCH 33300 0 0 0 DUES AND SUBSCRIPTIONS 13779 0 0 0 MEMBERSHIP EXPENSE 11932 0 0 0 -314075 6161180 0 0 0 X 396022 603834 444000 473000 0 0 312304 165189 0 0 0 0 0 0 0 0 115621 122982 1838938 1403027 505735 435911 3969202 4101957 0 0 0 0 0 0 74501 108725 5817385 6011598 911765 1190661 0 0 2898709 2670338 0 0 0 0 0 0 0 0 0 0 1921030 1717015 5731504 5578014 X 85881 433584 0 0 0 0 85881 433584 5817385 6011598 X 175868 -66403 238238 X X false true X true false false false true 3298019 67276 521 67797 164901 -97104 0 88976 68524 20452 1451982 1046587 405395 297980 287916 10064 435911 0 POST-RETIREMENT BENEFITS 1148984 DEFERRED RENT 75018 SUBLEASE LIABILITY 241500 OTHER LIABILITIES 251513 1717015 X SCHEDULE D, PART X AN INDEPENDENT CPA FIRM AUDITED THE CONSOLIDATED FINANCIAL STATEMENTS OF FINANCIAL EXECUTIVES INTERNATIONAL AND ITS AFFILIATE, FINANCIAL EXECUTIVES RESEARCH FOUNDATION, FOR THE YEAR ENDED JUNE 30, 2018 AND ISSUED AUDITED CONSOLIDATED FINANCIAL STATEMENTS. THE FOLLOWING IS THE TEXT OF THE FOOTNOTE IN THE ORGANIZATION'S FISCAL YEAR ENDED JUNE 30, 2018 AUDITED CONSOLIDATED FINANCIAL STATEMENTS THAT REPORTS THE ORGANIZATION'S LIABILITY FOR UNCERTAIN TAX POSITIONS UNDER FIN 48 (ASC 740): FEI AND THE FOUNDATION ARE EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(6) AND 501(C)(3) OF THE CODE, RESPECTIVELY. THE ORGANIZATION HAS NO UNRELATED TAXABLE BUSINESS INCOME IN 2018. THE ORGANIZATION HAS NO UNRECOGNIZED TAX BENEFITS AT JUNE 30, 2018 AND INCURRED NO INTEREST OR PENALTIES FOR THE PERIODS PRESENTED IN THESE CONSOLIDATED FINANCIAL STATEMENTS. X X X X false false false Andrej S Suskavcevic CAE DIRECTOR - President & CEO 323701 0 35000 0 512 0 10800 0 31898 0 401911 0 0 0 Liliana Devita Vice President & COO 150039 0 16000 0 198 0 6096 0 30106 0 202439 0 0 0 Christopher Westfall Vice President, Content 114845 0 12000 0 204 0 0 0 30066 0 157115 0 0 0 CORE FORM, PART VII AND SCHEDULE J IN ACCORDANCE WITH FORM 990 RULES, REGULATIONS AND INSTRUCTIONS, TAXABLE COMPENSATION REPORTED HEREIN IS DERIVED FROM EACH INDIVIDUAL'S 2017 FORM W-2 AND FORM 1099-MISC; IF APPLICABLE. CORE Form, Part VI, Section A, Line 4 THE ORGANIZATION AMENDED ITS BYLAWS IN MAY, 2018. THE BYLAWS WERE AMENDED TO REFLECT THE RECOMMENDATIONS MADE BY A JOINT TASK FORCE BETWEEN THIS ORGANIZATION AND ITS TAX-EXEMPT AFFILIATE; FINANCIAL EXECUTIVES RESEARCH FOUNDATION, STREAMLINING THE GOVERNANCE PROCESS BETWEEN THE TWO ORGANIZATIONS. CORE FORM, Part VI, Section A, LineS 6 AND 7 AS OUTLINED IN THE BYLAWS OF FINANCIAL EXECUTIVES INTERNATIONAL, INC. ("FEI"), FEI SHALL BE GOVERNED BY THE BOARD AND BY THE EXECUTIVE COMMITTEE THEREOF AND MEMBERSHIP SHALL ELECT THE DIRECTORS TO THE BOARD. The Board may, at its discretion, exercise authority over the policies, services and programs of all internal organizational units. While the Board shall reserve unto itself the primary policy-making authority for the overall organization, it will be within its mandate to delegate authority to any internal organizational unit, for policy interpretation, operations management, and other specified functions, as it deems appropriate and as may be allowed by law. The Board shall have final authority to determine all terms and conditions, including all budgetary and financial arrangements, related to FEIs affiliation with external organizations. The Board shall have final authority in establishing the eligibility criteria for membership in FEI and for the development and enforcement of a Code of Ethics to which all members must agree to comply. The categories of membership in FEI shall include Executive, Academic, Retired, Life Retired, Honorary, In-Transition, Entrepreneurial, Government/Military, and such other category or categories as may be established by the Board. The Board shall have the duty and the power: (a) To control and govern the affairs, property and finances of FEI; (b) to authorize or ratify contracts on behalf of FEI; (c) to authorize the borrowing of money on behalf of and for the purposes of FEI and, at its discretion, to authorize and direct the Chair, the Vice Chair, the President, or the Secretary under their respective hands and seals, to sign, execute and deliver mortgages and pledges of any or all FEI property, real or personal, as security for payment of the same, and to sign, execute and deliver contracts of any nature or kind; and (d) to do all lawful things which it may deem appropriate to promote the objectives, purposes and interests of FEI. CORE FORM, Part VI, Section B, Line 11B THE ORGANIZATION'S FORM 990 WAS PROVIDED TO EACH VOTING MEMBER OF ITS GOVERNING BODY, ITS BOARD OF DIRECTORS, PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE ("IRS"). THE ORGANIZATION'S BOARD OF DIRECTORS HAS BEEN DELEGATED THE RESPONSIBILITY TO OVERSEE AND COORDINATE THE FORM 990 PREPARATION, REVIEW AND FILING PROCESS FOR THE ORGANIZATION AND ITS AFFILIATE. AS PART OF THE TAX RETURN PREPARATION PROCESS, THE ORGANIZATION HIRED A PROFESSIONAL CPA FIRM WITH EXPERIENCE AND EXPERTISE IN NONPROFIT TAX RETURN PREPARATION TO PREPARE THE FORM 990. THE CPA FIRM'S TAX PROFESSIONALS WORKED CLOSELY WITH THE ORGANIZATION'S FINANCE PERSONNEL INCLUDING, BUT NOT LIMITED TO, THE VICE PRESIDENT/CHIEF FINANCIAL OFFICER, AND DIRECTOR OF FINANCE AND ADMINISTRATION ("INTERNAL WORKING GROUP") TO OBTAIN THE INFORMATION NEEDED IN ORDER TO PREPARE A COMPLETE AND ACCURATE TAX RETURN. THE CPA FIRM PREPARED A DRAFT FORM 990 AND FURNISHED IT TO THE ORGANIZATION'S INTERNAL WORKING GROUP FOR REVIEW. THE INTERNAL WORKING GROUP REVIEWED THE DRAFT FORM 990 AND DISCUSSED QUESTIONS AND COMMENTS WITH THE CPA FIRM. REVISIONS WERE MADE TO THE DRAFT FORM 990 WHERE NECESSARY AND A FINAL DRAFT WAS FURNISHED BY THE CPA FIRM TO THE ORGANIZATION'S INTERNAL WORKING GROUP FOR FINAL REVIEW AND APPROVAL. FOLLOWING THE INTERNAL WORKING GROUP'S REVIEW AND APPROVAL OF THE FORM 990, THE FORM 990 WAS PROVIDED TO EACH VOTING MEMBER OF THE ORGANIZATION'S BOARD OF DIRECTORS FOR REVIEW PRIOR TO FILING WITH THE IRS. CORE FORM, Part VI, Section B, Line 12C FEI AND ITS AFFILIATE, FINANCIAL EXECUTIVES RESEARCH FOUNDATION ("FERF"), HAVE A WRITTEN CONFLICT OF INTEREST POLICY WITH WHICH IT REGULARLY MONITORS AND ENFORCES COMPLIANCE. FEI's Conflict of Interest Policy governs conflicts of interest involving: (i) members of the Board of Directors and committees empowered to act on behalf of the Board of Directors; (ii) members of the Action Teams; (iii) Chapter Presidents and Presidents-Elect; and (IV) EMPLOYESS OF FEI AND FERF (COLLECTIVELY, "INTERESTED PERSONS"). The purpose of the Policy is to protect the interests of FEI when it has entered into or is contemplating entering into a transaction or arrangement that might benefit a private interest of an Interested Person. Interested Persons must disclose all conflicts of interest as defined in the Policy, including those that might influence or be perceived to influence the actions or decisions of the Interested Person. Each Interested Person shall complete a Conflict of Interest Disclosure Form annually; however, such annual disclosures shall be supplemented promptly by additional written disclosures as required by this Policy, i.e., when an actual or potential conflict of interest arises. All Interested Persons shall bring to the attention of/disclose to FEI any actual or perceived conflict of interest involving any other Interested Person, AND ANY NECESSARY MITIGATING BEHAVIOR IS TAKEN AT THAT TIME. CORE FORM, Part VI, Section B, Line 15 FINANCIAL EXECUTIVES INTERNATIONAL'S ("FEI") BOARD OF DIRECTORS HAS A COMPENSATION COMMITTEE ("COMMITTEE") WHICH IS A STANDING COMMITTEE. THE COMMITTEE REVIEWS THE "TOTAL COMPENSATION" OF THE ORGANIZATION'S PRESIDENT/CHIEF EXECUTIVE OFFICER ("CEO") AND OTHER MEMBERS OF THE SENIOR MANAGEMENT TEAM WHICH IS INTENDED TO INCLUDE BOTH CURRENT AND DEFERRED COMPENSATION AND ALL EMPLOYEE BENEFITS, BOTH QUALIFIED AND NON-QUALIFIED. THE COMMITTEE ENSURES THAT THE "TOTAL COMPENSATION" OF THE PRESIDENT/CEO AND MEMBERS OF SENIOR MANAGEMENT OF THE ORGANIZATION IS REASONABLE BY OBTAINING AND RELYING UPON "APPROPRIATE DATA AS TO COMPARABILITY" PRIOR TO MAKING ITS DETERMINATION. THE COMMITTEE IS COMPRISED OF MEMBERS OF THE BOARD OF DIRECTORS, EACH OF WHOM ARE INDEPENDENT AND ARE FREE FROM ANY CONFLICTS OF INTEREST. The Compensation Committee shall determine the compensation of the President/CEO of FEI, it shall approve the compensation of staff officers and staff directors and it shall review and approve the compensation policies and practices for other staff personnel. The President shall participate in all matters that come before the Compensation Committee, except matters that relate to the President/CEOs compensation. THE ACTIONS TAKEN BY THE COMMITTEE ENABLE THE ORGANIZATION TO RECEIVE THE REBUTTABLE PRESUMPTION OF REASONABLENESS FOR PURPOSES OF INTERNAL REVENUE CODE 4958 WITH RESPECT TO THE TOTAL COMPENSATION OF THE PRESIDENT/CEO AND THE SENIOR MANAGEMENT TEAM. THE THREE FACTORS WHICH MUST BE SATISFIED IN ORDER TO RECEIVE THE REBUTTABLE PRESUMPTION OF REASONABLENESS ARE THE FOLLOWING: 1. THE COMPENSATION ARRANGEMENT IS APPROVED IN ADVANCE BY AN "AUTHORIZED BODY" OF THE APPLICABLE TAX-EXEMPT ORGANIZATION WHICH IS COMPOSED ENTIRELY OF INDIVIDUALS WHO DO NOT HAVE A "CONFLICT OF INTEREST" WITH RESPECT TO THE COMPENSATION ARRANGEMENT; 2. THE AUTHORIZED BODY OBTAINED AND RELIED UPON "APPROPRIATE DATA AS TO COMPARABILITY" PRIOR TO MAKING ITS DETERMINATION; AND 3. THE AUTHORIZED BODY "ADEQUATELY DOCUMENTED THE BASIS FOR ITS DETERMINATION" CONCURRENTLY WITH MAKING THAT DETERMINATION. THE COMMITTEE IS COMPRISED OF MEMBERS OF THE BOARD OF DIRECTORS EACH OF WHO ARE INDEPENDENT AND ARE FREE FROM ANY CONFLICTS OF INTEREST. THE COMMITTEE RELIED UPON APPROPRIATE COMPARABLE DATA; SPECIFICALLY THE COMMITTEE WORKED WITH A MANAGEMENT CONSULTING FIRM SPECIALIZING IN STRATEGIC PLANNING, ORGANIZATIONAL DEVELOPMENT AND HUMAN RESOURCE SYSTEMS. Salary grades, which set compensation ranges, are periodically reviewed by THIS independent consultant, who compares those grades to industry averages for not-for-profits. Compensation for the PRESIDENT/CEO and THE SENIOR MANAGEMENT PERSONNEL are set within the appropriate salary grades. THE committee reports directly to FEI's Board of DIRECTORS wherein all discussions at the committee level are documented in written meeting minutes of the full Board of DIRECTORS. CORE FORM, Part VI, Section C, Line 19 THE ORGANIZATION MAKES THESE GOVERNING DOCUMENTS AND AUDITED FINANCIAL STATEMENTS AVAILABLE ON ITS WEBSITE. CORE FORM, PARTS VIII THROUGH X Certain amounts in the 2017 financial statements have been reclassified to conform to the 2018 presentation. These changes had no effect on previously reported changes in net assets. In prior years, the activities of the ORGANIZATION'S AFFILIATE, FINANCIAL EXECUTIVES RESEARCH Foundation were not consolidated with those of FEI. Management determined that because FEI is the sole corporate member of the Foundation, consolidation is required under accounting principles generally accepted in the U.S. Accordingly, net assets at June 30, 2017 have been restated to consolidate the activity of the Foundation. CORE FORM, Part XI, Line 9, OTHER Changes in Net Assets PENSION RELATED CHANGES OTHER THAN NET PERIODIC PENSION COST; $238,238. CORE FORM, Part XI, Line 2c The ORGANIZATION'S Audit Committee, pursuant to the ORGANIZATION'S Bylaws, shall annually recommend to the Board a firm of independent accountants to audit the accounts of FEI, to review and approve the scope of the audit program, to receive and review the report of the independent accountants and to review and recommend audit and other related fee arrangements for approval by the Board. THE FEI AUDIT COMMITEE MEETS AT LEAST TWICE PER YEAR WITH THE EXTERNAL AUDITORS AND SENIOR MANAGEMENT. THE PURPOSE OF THE FIRST MEETING IS TO DISCUSS THE AUDIT PLANNING, AREAS OF AUDIT EMPHASIS AND THE AUDIT SCHEDULE. THE SECOND MEETING IS TO REVIEW THE RESULTS OF THE AUDIT, THE AUDITORS' REPORT TO MANAGEMENT AND TO SELECT AN ACCOUNTING FIRM FOR THE UPCOMING AUDIT. ADDITIONAL AUDIT COMMITTEE MEETINGS ARE SCHEDULED AS REQUIRED. Financial Executives Research Foundation 1250 Headquarters Plaza West Tower Morristown NJ 07960 237063497 Research NY 501(c)(3) 509(a)(2) NA false false false false false false false false false false false false true true true true false true false false Financial Executives Research Foundation N 52410 FMV Financial Executives Research Foundation M 174558 FMV Financial Executives Research Foundation O 324790 FMV Financial Executives Research Foundation Q 105528 FMV