2017-11-07T07:28:30-06:00 2016-12-31 410746749 CLIFTONLARSONALLEN LLP 901 N GLEBE ROAD SUITE 200 ARLINGTON VA 22203 990 2016-01-01 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 2017-11-03 1 DAVID TRIMNER P00444822 5712279500 67.137.57.251 2017-11-03 08:47:18 ED P DBE1C856E1B16F05DCF2A23F77D7D4D5E41F3548 42F564CBFE8260E3A927264CDE4494A8B488CDEA 2016 2018-03-14 21:41:22Z KEVIN R KELLER 1425 K STREET NW NO 800 WASHINGTON DC 20005 43419487 0 X WWW.CFP.NET X 1985 DC BENEFIT THE PUBLIC BY GRANTING THE CFP CERTIFICATION FOR PERSONAL & ETHICAL FINANCIAL PLANNING. 13 13 72 167 403628 -46925 2926779 2147466 30587654 32608531 -1475329 570054 32059 45287 32071163 35371338 25000 25000 0 0 9063760 9220912 159072 135444 329912 21485945 24437241 30733777 33818597 1337386 1552741 41768951 45472744 19319541 20851215 22449410 24621529 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 11316756 11316756 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, AND ONLINE ADVERTISING. ADDITIONALLY, CFP BOARD IS MAINTAINING AND REGULARLY UPDATING RELEVANT CONTENT ON "LET'S MAKE A PLAN," A CONSUMER-TARGETED WEBSITE TO INCREASE THE PUBLIC'S AWARENESS OF THE VALUE OF FINANCIAL PLANNING AND HOW A CFP PROFESSIONAL CAN HELP THEM IMPROVE THEIR ECONOMIC AND FINANCIAL WELL-BEING. OUR CAMPAIGN HAS INCREASED THE AWARENESS OF CFP CERTIFICATION SINCE 2011 AMONG OUR TARGET AUDIENCE WITH AN OVERWHELMING MAJORITY STATING THAT THEY HAVE HEARD OF THE DESIGNATION. AS A RESULT, CFP BOARD HAS APPROVED THE PUBLIC AWARENESS CAMPAIGN TO CONTINUE TO RUN INDEFINITELY AND TO PROMOTE TO THE PUBLIC A STRONGER AFFINITY AND UNDERSTANDING OF THE VALUE OF CFP CERTIFICATION. 6296560 173149 COMMUNICATIONS AND OUTREACH:DURING 2016, CFP BOARD COMMUNICATIONS AND OUTREACH INCLUDED PUBLIC RELATIONS, CONSUMER ADVOCACY AND OUTREACH, CFP PROFESSIONAL COMMUNICATIONS, EDUCATIONAL MATERIALS, CFP.NET AND LETSMAKEAPLAN.ORG WEBSITES AND OTHER INITIATIVES TO INCREASE AND ENHANCE AWARENESS OF CFP CERTIFICATION AND THE BENEFITS OF FINANCIAL PLANNING. OUR EFFORTS UTILIZED EARNED MEDIA 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 AND OUR CONSUMER ADVOCATE TO COMMUNICATE THESE MESSAGES. 4521924 64500 ENFORCEMENT OF PROFESSIONAL STANDARDS: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 HAS ESTABLISHED DISCIPLINARY RULES AND PROCEDURES THAT PROVIDE A FAIR PROCESS FOR ENFORCING CFP BOARD'S STANDARDS. CFP BOARD PROVIDES NOTICE TO CFP PROFESSIONALS WHO ARE UNDER INVESTIGATION, IDENTIFIES THE GENERAL NATURE OF THE INVESTIGATION, AND OFFERS AN OPPORTUNITY TO RESPOND. IN 2016, CFP BOARD STAFF OPENED IN EXCESS OF 464 SUCH INVESTIGATIONS. WHERE THE INVESTIGATION CONCLUDES WITH A DETERMINATION THAT THERE IS PROBABLE CAUSE TO BELIEVE THAT GROUNDS FOR DISCIPLINE EXIST, CFP BOARD MAY ISSUE A COMPLAINT THAT REASONABLY SETS FORTH THE GROUNDS FOR DISCIPLINE WITH WHICH THE CFP PROFESSIONAL HAS BEEN CHARGED AND THE CONDUCT OR OMISSION THAT GAVE RISE TO THOSE CHARGES. CFP PROFESSIONALS HAVE THE OPPORTUNITY TO RESPOND, TO SUBMIT DOCUMENTS, TO FILE MOTIONS, TO PRODUCE AND CROSS-EXAMINE WITNESSES, AND TO BE REPRESENTED BY COUNSEL AT AN EVIDENTIARY HEARING ON THE RECORD. CFP BOARD'S DISCIPLINARY AND ETHICS COMMISSION (DEC), A PEER-REVIEW BODY MADE UP OF CFP PROFESSIONALS AND PUBLIC MEMBERS, REVIEWS AND TAKES APPROPRIATE ACTION WITH RESPECT TO THE ALLEGATIONS SET FORTH IN THE COMPLAINT. A THREE-PERSON HEARING PANEL HOLDS A HEARING, CONSIDERS THE EVIDENCE, AND REPORTS ITS FINDINGS AND RECOMMENDATIONS TO THE FULL DEC, WHICH DECIDES WHETHER THERE ARE GROUNDS FOR DISCIPLINE, AND IF SO, WHAT SANCTION IS APPROPRIATE. IN 2016, THE DEC HELD 66 SUCH HEARINGS. CFP PROFESSIONALS ALSO HAVE THE RIGHT TO APPEAL AN ADVERSE DECISION. ON APPEAL, A CFP BOARD APPEALS PANEL ISSUES A WRITTEN DECISION, AND THE APPEALS COMMITTEE OF CFP BOARD'S BOARD OF DIRECTORS ISSUES THE FINAL DECISION OF CFP BOARD. 3247529 475443 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 IN THE AREAS OF DIVERSITY AND WORKFORCE DEVELOPMENT, AND TO BUILD AN ACADEMIC HOME THAT OFFERS OPPORTUNITIES FOR CONDUCTING AND PUBLISHING NEW RESEARCH THAT ADDS TO THE FINANCIAL PLANNING BODY OF KNOWLEDGE. THE CENTER'S PROGRAMS ARE FUNDED PRIMARILY THROUGH VOLUNTARY DONATIONS RECEIVED FROM INDIVIDUAL DONORS AND CORPORATE SPONSORS. 2533041 25000 1624955 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 2016, CFP BOARD REGISTERED OVER 320 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 2016, CFP BOARD REVIEWED AND APPROVED OVER 14,100 CE PROGRAMS WHICH MET ESTABLISHED REQUIREMENTS. 1875119 4748367 EXAMINATION:IN 2016, ALMOST 7,000 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. 670404 PUBLIC ADVOCACY:ONE OF CFP BOARD'S CORE PUBLIC POLICY OBJECTIVES IS TO INFLUENCE POLICY TO BENEFIT THE PUBLIC AND INCREASE ACCESS FOR ALL TO COMPETENT AND ETHICAL FINANCIAL PLANNING. DURING 2016, CFP BOARD ADVOCATED FOR A FINAL DEPARTMENT OF LABOR FIDUCIARY RULE AND FOCUSED ON INVESTOR PROTECTION ISSUES, INCLUDING THE REGULATION OF THOSE WHO HOLD THEMSELVES OUT TO CONSUMERS AS FINANCIAL PLANNERS. CFP BOARD ALSO ENCOURAGED THE SECURITIES AND EXCHANGE COMMISSION (SEC) TO ADOPT A FIDUCIARY STANDARD OF CARE FOR THE DELIVERY OF PERSONALIZED INVESTMENT ADVICE AND TO INCREASE OVERSIGHT OF REGISTERED INVESTMENT ADVISORS. 615803 14250649 CERTIFICATION:THERE WERE OVER 76,700 CFP PROFESSIONALS AT THE END OF 2016, OF WHICH 4,717 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. 8941896 25000 21099414 31077136 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 1 0 0 0 0 0 0 0 0 1 67 0 1 72 1 1 1 0 0 0 0 0 0 0 0 0 X 13 13 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 MIKE GREENE BOARD CHAIR 5.00 X 0 0 0 PEGGY RUHLIN BOARD MEMBER 5.00 X 0 0 0 NEAL SOLOMON BOARD MEMBER 5.00 X 0 0 0 SUSAN JOHN BOARD MEMBER 5.00 X 0 0 0 ARLENE PIETRANTON BOARD MEMBER 5.00 X 0 0 0 KIM WRIGHT-VIOLICH BOARD MEMBER 5.00 X 0 0 0 RICHARD SALMEN BOARD MEMBER 5.00 X 0 0 0 PHIL CUNNINGHAM BOARD MEMBER 5.00 X 0 0 0 ARTHUR LABY BOARD MEMBER 5.00 X 0 0 0 CHARLIE FITZGERALD BOARD MEMBER 5.00 X 0 0 0 BLAINE AIKIN BOARD MEMBER 5.00 X 0 0 0 JEFF FARRAR BOARD MEMBER 5.00 X 0 0 0 TOM NELSON BOARD MEMBER 5.00 X 0 0 0 KEVIN KELLER CHIEF EXECUTIVE OFFICER 45.00 X 742984 0 158541 ROGER C MYERS CHIEF FINANCIAL OFFICER 45.00 X 372958 0 83400 LEO RYDZEWSKI GENERAL COUNSEL 45.00 X 447916 0 85764 MARILYN MOHRMAN-GILLIS MANAGING DIRECTOR 45.00 X 409648 0 80692 JOSEPH MAUGERI MANAGING DIRECTOR 45.00 X 271238 0 71130 MICHELE WARHOLIC MANAGING DIRECTOR 45.00 X 367314 0 9511 DAN DRUMMOND DIRECTOR 45.00 X 195160 0 26494 DAVID MAZZULLA DIRECTOR 45.00 X 186410 0 16723 GAIL REISMAN DIRECTOR 45.00 X 186148 0 18730 ADAM ZAJAC DIRECTOR 45.00 X 183781 0 20820 JOHN LOPER DIRECTOR 45.00 X 179523 0 22902 3543080 0 594707 25 0 1 0 HAVAS MEDIA 10 SUMMER STREET BOSTON MA 02110 ADVERTISING 6151795 ARNOLD WORLDWIDE 205 HUDSON STREET NEW YORK NY 10013 ADVERTISING AGENT 1016981 PROMETRIC INC 1501 SOUTH CLINTON STREET BALTIMORE MD 21224 TESTING SERVICES 930405 MARKETING GENERAL INC 625 N WASHINGTON STREET SUITE 450 ALEXANDRIA VA 22314 MARKETING SERVICES 681563 POWELL TATE 733 10TH STREET NW WASHINGTON DC 20001 PUBLIC RELATIONS 504350 23 2147466 450027 2147466 CERTIFICATION FEES 900099 13667174 13667174 PUBLIC AWARENESS FEES 900099 11316756 11316756 EXAM FEES 900099 4748368 4748368 EDUCATIONAL FEES 900099 1605485 1605485 CAREER CENTER SPONSORSHIP & FEES 900099 475443 71815 403628 795305 795305 32608531 488462 488462 19469 19469 8116768 8035176 81592 81592 81592 38791 12973 25818 25818 35371338 32250190 403628 570054 X 25000 25000 3101096 2775032 268126 57938 4990557 4515155 431493 43909 312167 276999 33851 1317 425581 379465 26991 19125 391511 354715 36796 225929 195208 18586 12135 40502 28829 11673 135444 135444 39107 39107 5510076 5023417 486042 617 11030597 11020457 10140 2527447 2411396 93590 22461 602377 520318 82059 1386730 987066 399664 850846 770417 60377 20052 503631 448867 49484 5280 914589 759954 153311 1324 176017 125288 50729 PROFESSIONAL DUES 549460 394987 154303 170 RECOGNITION AWARDS 38746 34896 3850 PROFESSIONAL DEVELOPMEN 33819 24550 9269 7368 5120 2248 33818597 31077136 2411549 329912 X 1014000 730000 0 284000 7081124 9355418 1631962 59181 2095497 2178476 277570 184082 398060 406555 10083265 5964859 4176391 4118406 21712840 22989012 2957711 4555438 1437796 1626176 41768951 45472744 3333422 4536466 10825829 11137412 10181 9999 5150109 5167338 19319541 20851215 X 22449410 24621529 22449410 24621529 41768951 45472744 X 1552741 732909 -113531 X 0 1 X 1 0 X 195000 2926779 2147466 5269245 25301024 27827617 28145644 30642973 32647322 144564580 25301024 28022617 28145644 33569752 34794788 149833825 369847 457333 827180 0 369847 457333 827180 149006645 1016316 716591 870379 516505 507931 3627722 1016316 716591 870379 516505 507931 3627722 26317340 28739208 29016023 34086257 35302719 153461547 0.97100 0.96490 0.02360 0.03250 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 39158 39158 33328886 33368044 1000000 250000 0 0 1000000 1000000 1000000 1000000 4000000 6000000 75226 37783 42317 39158 194484 250000 250000 250000 250000 1000000 1500000 0 1 X 3109821 1114840 1994981 1222620 693710 528910 5750824 4156309 1594515 4118406 ARCHIPELAGO HOLDINGS 1268199 F NYES LEDGE CAPITAL FUND 3287239 F 4555438 DEFERRED RENT 1545535 CAPITAL LEASE OBLIGATION 81579 DEFERRED COMPENSATION 1787249 DEFERRED LIABILITY - TENANT FINISH ALLOWANCE 1752975 5167338 X 36078113 732909 12973 745882 35332231 39107 39107 35371338 33905994 126504 126504 33779490 39107 39107 33818597 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 2016 AND 2015, 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 12,973. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 12,973. INCREASE IN ALLOWANCE FOR UNCOLLECTIBLES 59,850. LOSS ON DISPOSAL OF FIXED ASSETS 53,681. X X X X 1 ASSOCIATION DEVELOPMENT SOLUTIONS 40 SHUMAN BOULEVARD NAPERVILLE IL 60563 CONSULTING 0 2147466 355000 1792466 GRAHAM PELTON CONSULTING 39 BEECHWOOD ROAD SUMMIT NJ 07901 CONSULTING 0 0 36000 -36000 2147466 391000 1756466 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 1 1 0 0 0 0 0 0 0 KEVIN KELLER CHIEF EXECUTIVE OFFICER 494389 0 235076 0 13519 0 133900 0 24641 0 901525 0 0 0 ROGER C MYERS CHIEF FINANCIAL OFFICER 288442 0 49150 0 35366 0 68528 0 14872 0 456358 0 0 31152 LEO RYDZEWSKI GENERAL COUNSEL 381456 0 65500 0 960 0 82165 0 3599 0 533680 0 0 0 MARILYN MOHRMAN-GILLIS MANAGING DIRECTOR 297768 0 64053 0 47827 0 65820 0 14872 0 490340 0 0 40279 JOSEPH MAUGERI MANAGING DIRECTOR 235553 0 33660 0 2025 0 59179 0 11951 0 342368 0 0 0 MICHELE WARHOLIC MANAGING DIRECTOR 51406 0 36163 0 279745 0 7997 0 1514 0 376825 0 0 0 DAN DRUMMOND DIRECTOR 171293 0 22577 0 1290 0 12180 0 14314 0 221654 0 0 0 DAVID MAZZULLA DIRECTOR 166456 0 19015 0 939 0 11203 0 5520 0 203133 0 0 0 GAIL REISMAN DIRECTOR 162853 0 22323 0 972 0 11650 0 7080 0 204878 0 0 0 ADAM ZAJAC DIRECTOR 162678 0 20827 0 276 0 11023 0 9797 0 204601 0 0 0 JOHN LOPER DIRECTOR 159507 0 19360 0 656 0 10978 0 11924 0 202425 0 0 0 PART I, LINES 4A-B PART I, LINE 4B - 457(F) PLAN - ALL EXECUTIVES PARTICIPATED IN THE PLAN. A NON-QUALIFED 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 EXECUTIVE LEADERSHIP TEAM. 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 EXECUTIVES IS VESTED THREE YEARS FROM THE GRANT DATE. UPON VESTING THE AWARD IS PAID OUT TO THE EXECUTIVE AS LONG AS THEY ARE STILL EMPLOYED BY CFP BOARD. THE FOLLOWING EXECUTIVES PARTICIPATED IN THE PLAN DURING THE YEAR. THE FOLLOWING GRANTS WERE AWARDED: NAME TITLE AMOUNT KEVIN R. KELLER CHIEF EXECUTIVE OFFICER $100,000 LEO RYDZEWSKI GENERAL COUNSEL $60,000 ROGER MYERS CHIEF FINANCIAL OFFICER $60,000 MARILYN MOHRMAN-GILLIS MANAGING DIRECTOR $60,000 JOSEPH MAUGERI MANAGING DIRECTOR $33,660 MICHELE WARHOLIC RECEIVED SEVERANCE PAYMENT OF $278,952. X 1 350000 FMV X 2 100027 FMV 0 1 0 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. 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 WAS MOST RECENTLY UNDERTAKEN IN 2015 FOR ALL OFFICER AND KEY EMPLOYEE POSITIONS REPORTED IN FORM 990, PART VII. 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 812,403. MANAGEMENT AND GENERAL EXPENSES 215,413. FUNDRAISING EXPENSES 617. TOTAL EXPENSES 1,028,433. PROFESSIONAL SERVICES: PROGRAM SERVICE EXPENSES 3,700,657. MANAGEMENT AND GENERAL EXPENSES 178,939. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 3,879,596. RECRUITMENT ADVERTISING: PROGRAM SERVICE EXPENSES 230. MANAGEMENT AND GENERAL EXPENSES 93. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 323. RESEARCH: PROGRAM SERVICE EXPENSES 119,882. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 119,882. TEMPORARY LABOR: PROGRAM SERVICE EXPENSES 177,486. MANAGEMENT AND GENERAL EXPENSES 5,450. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 182,936. RECRUITMENT PROFESSIONAL SERVICES: PROGRAM SERVICE EXPENSES 212,759. MANAGEMENT AND GENERAL EXPENSES 86,147. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 298,906. FORM 990, PART XI, LINE 9: INCREASE IN ALLOWANCE FOR UNCOLLECTIBLES -59,850. LOSS ON DISPOSAL OF FIXED ASSETS -53,681.