2015-05-14T14:51:11-05:00 2014-06-30 420714325 MCGLADREY LLP 9737 WASHINGTONIAN BLVD 400 GAITHERSBURG MD 208787340 990 2013-07-01 581424769 ASSOCIATION FOR FINANCIAL PROFESSIONALS ASSO 3019072862 4520 EAST WEST HIGHWAY STE 750 NO 750 BETHESDA MD 20814 JOSEPH A DESALVIO CHIEF FINANCIAL OFFICER 3019072862 2015-05-14 1 WILLIAM E TURCO CPA P00369217 3012963600 2013 2016-03-07 17:11:31Z JAMES A KAITZ 4520 EAST WEST HIGHWAY STE 750 NO 750 BETHESDA MD 20814 32427499 0 X WWW.AFPONLINE.0RG X 1980 MD THE PROFESSIONAL SOCIETY THAT REPRESENTS FINANCE EXECUTIVES GLOBALLY. THE ASSOCIATION ESTABLISHED AND ADMINISTERS THE CERTIFIED TREASURY PROFESSIONAL AND CERTIFIED CORPORATE FP&A PROFESSIONAL CREDENTIALS, WHICH SET STANDARDS OF EXCELLENCE IN FINANCE. MEMBERS ARE SUPPORTED THROUGH RESEARCH, EDUCATION, CERTIFICATION, PUBLICATIONS AND REPRESENTATION. 15 15 92 140 1504804 62995 0 0 19065972 21734564 1498071 1280209 1215206 413198 21779249 23427971 15486 10517 0 0 9372021 10385614 0 0 0 14484649 14064432 23872156 24460563 -2092907 -1032592 34285297 34066695 16212235 15687491 18073062 18379204 X TO BE THE PREFERRED GLOBAL RESOURCE AND ADVOCATE FOR THE FINANCE PROFESSION. 0 0 ANNUAL CONFERENCE:PREMIER NETWORKING AND EDUCATIONAL EVENT INCLUDING MORE THAN 130 WORKSHOPS, PEER REVIEWED LECTURES, AND PRESENTATIONS ON CORPORATE FINANCIAL MANAGEMENT TOPICS SUCH AS TREASURY AND CASH, BANK RELATIONSHIPS, LIQUIDITY, WORKING CAPITAL, PAYMENTS, FINANCIAL PLANNING AND ANALYSIS, AND PENSION AND EMPLOYEE PLANS. ATTENDANCE AT THE ANNUAL CONFERENCE WAS IN EXCESS OF 6,000 CORPORATE PRACTITIONERS, ASSOCIATES AND ACADEMICS. PROFESSIONAL DEVELOPMENT - INCLUDES CERTIFICATION AND EDUCATION. THE CERTIFIED TREASURY PROFESSIONAL (CTP) EXAM WAS ADMINISTERED TO APPROXIMATELY 3,300 CANDIDATES. IN ADDITION, APPROXIMATELY 2600 CTPS, WHO MET THE REQUIREMENT FOR CONTINUING PROFESSIONAL EDUCATION CREDITS OVER A THREE YEAR PERIOD, WERE RECERTIFIED.EDUCATION - CONDUCTED WORKSHOPS, WEBINARS AND SEMINARS ON A VARIETY OF TOPICS IN CORPORATE FINANCE, CASH MANAGEMENT, FRAUD PREVENTION, FINANCIAL RISK MANAGEMENT, BANK RELATIONSHIP MANAGEMENT, CASH FLOW FORECASTING, CORPORATE PAYMENTS, FINANCIAL PLANNING AND ANALYSIS AND SIMILAR TOPICS. COMMUNICATIONS:PUBLISHED MONTHLY NEWSLETTERS AND TEN ISSUES OF EXCHANGE MAGAZINE WITH TOPICS COVERING ECONOMICS, CORPORATE PAYMENTS, RISK AND FINANCIAL MANAGEMENT, CAREER DEVELOPMENT, AND LEGAL AND REGULATORY DEVELOPMENTS. MEMBERSHIP AND MARKETING RESEARCH WEBSITE CIEBA GT NEWS 0 0 0 1 0 0 0 0 0 1 0 0 1 1 1 0 1 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 91 0 1 92 1 1 1 1 CA UK 0 0 0 0 X 15 15 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 0 0 X JOSEPH DESALVIO 3019072862 4520 EAST WEST HIGHWAY STE 750 NO BETHESDA MD 20814 SUSAN GLASS BOARD CHAIRMAN 5.00 X X 0 0 0 JEFF JOHNSON VICE CHAIRMAN 5.00 X X 0 0 0 ANITA PATTERSON VICE CHAIRMAN 5.00 X X 0 0 0 MIKE CONNOLLY PAST CHAIRMAN 5.00 X 0 0 0 ANN ANTHONY DIRECTOR 5.00 X 0 0 0 JEFF CAPPELLETTI DIRECTOR 5.00 X 0 0 0 ROBERTA EISEMAN DIRECTOR 5.00 X 0 0 0 PATRICIA HUI DIRECTOR 5.00 X 0 0 0 FERDINAND JAHNEL DIRECTOR 5.00 X 0 0 0 JUNE JOHNSON DIRECTOR 5.00 X 0 0 0 KATRIA KOWAL DIRECTOR 5.00 X 0 0 0 SHARON PETREY DIRECTOR 5.00 X 0 0 0 JOAN PISCITELLO DIRECTOR 5.00 X 0 0 0 ANTHONY SCAGLIONE DIRECTOR 5.00 X 0 0 0 ADRIENNE URBAN DIRECTOR 5.00 X 0 0 0 JAMES KAITZ CEO 50.00 X 894836 0 45086 JOSEPH DESALVIO CFO 50.00 X 280895 0 51471 JEFF GLENZER CHIEF OPERATING OFFICER 50.00 X 238357 0 49015 PATRICK CULKIN VP STRATEGY 40.00 X 200041 0 47560 PAUL AUCHINCLOSS MANAGING DIRECTOR, SALES 40.00 X 510296 0 58961 DAVID LEWIS MANAGING DIRECTOR, MEMBERS 40.00 X 191488 0 35120 DEBORAH FORBES EXECUTIVE DIRECTOR, CIEBA 40.00 X 244143 0 35229 ELIZABETH JOHNS MANAGING DIRECTOR- COMMUNICATIONS 40.00 X 188081 0 27340 KEVIN ROTH MANAGING DIRECTOR, RESEARC 40.00 X 192271 0 41847 CRAIG MARTIN DIRECTOR, TREASURY PRACTIC 40.00 X 188594 0 41403 MARYELLEN SAUNDERS MANAGING DIRECTOR, EDUCATI 40.00 X 184687 0 34384 3313689 0 467416 23 0 1 0 MGM RESORTS ARIA RESORT & CASINO PO BOX 748137 LOS ANGELES CA 90051 CONFERENCE 2151880 HOLMES CORPORATION 2975 LONE OAK DRIVE SUITE 180 EAGAN MN 55121 EDUCATION 514872 FREEMAN 10401 CONNECTICUT AVENUE SUITE 103 KENSINGTON MD 20895 AUDIO VISUAL-CONFERENCE 380803 NCS PEARSON 13036 COLLECTION CENTER DRIVE CHICAGO IL 60693 CERTIFICATION 353399 WILLIAMSGERARD PRODUCTIONS INC 420 NORTH WAVASH CHICAGO IL 60611 CONFERENCE-PRODUCTION 333744 26 CONFERENCES 541900 11232821 6865389 183847 4183585 MEMBERSHIP DUES 900099 5518624 5518624 PROFESSIONAL DEVELOPME 541900 3448921 3179048 269873 GTNEWS 541900 736310 292549 443761 COMMUNICATIONS 511120 659638 52315 607323 138250 138250 21734564 675091 675091 22053 22053 9604646 8999528 605118 605118 605118 MANAGEMENT FEES 541800 390916 390916 INTERCOMPANY INTEREST 900099 229 229 391145 23427971 16046175 1504804 5876992 X 10517 2558217 5973367 622125 719207 512698 274363 67679 76334 4956487 527834 1700158 83449 1189213 1065671 2336322 10259 534536 128919 TAXES 53050 HONORARIA 604058 RESTRUCTURING 220559 OTHER EXPENSES 93295 142246 24460563 2205644 2068383 1126269 1201461 1222697 1016145 4947921 3755998 1544423 1191923 19516154 20590846 100000 100000 650514 650514 7919596 7247423 34285297 34066695 2196752 2720252 9248350 9112275 625000 234571 3907562 3854964 16212235 15687491 X 16451478 16646534 1621584 1732670 18073062 18379204 34285297 34066695 X -1032592 1328515 10219 X 0 1 X 1 0 0 0 0 5518624 10881 10881 10881 1833545 1340000 493545 2329666 1879592 450074 784710 536406 248304 1191923 DEFERRED COMPENSATION 2711026 DUE FROM AFP CANADA 495 DUE FROM C-STREAM 3708811 DUE FROM ASSOCIATION 61076 DUE FROM AFPN 757923 DEPOSITS 8092 7247423 DEFERRED COMPENSATION 2711026 DEFERRED RENT 924088 CAPITAL LEASE PAYABLE 19720 DUE TO AFP CANADA 620 DUE TO ASSOCIATION 61076 DUE TO C-STREAM 138434 3854964 X 24455626 1328515 -224526 1103989 23351637 76334 76334 23427971 26208387 1824158 1824158 24384229 76334 76334 24460563 PART X, LINE 2: THE ASSOCIATION IS EXEMPT FROM THE PAYMENT OF FEDERAL INCOME TAXES ON ITS EXEMPT ACTIVITIES UNDER SECTION 501(C)(6) OF THE INTERNAL REVENUE CODE. HOWEVER, THE ASSOCIATION IS SUBJECT TO INCOME TAX ON UNRELATED BUSINESS INCOME ACTIVITY. FOR THE YEARS ENDED JUNE 30, 2014 AND 2013, THE ASSOCIATION HAD NET UNRELATED BUSINESS INCOME OF APPROXIMATELY $23,500 AND $23,774, RESPECTIVELY. AFPC IS EXEMPT FROM THE PAYMENT OF CANADIAN INCOME TAXES ON ITS EXEMPT ACTIVITIES UNDER SECTION 149(1)E OF THE INCOME TAX ACT. C-STREAM AND MYGUIDES ARE SUBJECT TO THE UK CORPORATION TAX. AFPAN IS A SINGLE MEMBER LIMITED LIABILITY COMPANY AND HAS ELECTED TO BE TAXED AS A CORPORATION FOR FEDERAL INCOME TAX PURPOSES. THE ACCOUNTING STANDARD ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES ADDRESSES THE DETERMINATION OF WHETHER TAX BENEFITS CLAIMED OR EXPECTED TO BE CLAIMED ON A TAX RETURN SHOULD BE RECORDED IN THE FINANCIAL STATEMENTS. UNDER THIS GUIDANCE, THE ORGANIZATION MAY RECOGNIZE THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY TAXING AUTHORITIES, BASED ON THE TECHNICAL MERITS OF THE POSITION. THE TAX BENEFITS RECOGNIZED IN THE FINANCIAL STATEMENTS FROM SUCH A POSITION ARE MEASURED BASED ON THE LARGEST BENEFIT THAT HAS A GREATER THAN 50% LIKELIHOOD OF BEING REALIZED UPON ULTIMATE SETTLEMENT. THE GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES ALSO ADDRESSES DE-RECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES ON INCOME TAXES, AND ACCOUNTING IN INTERIM PERIODS. MANAGEMENT EVALUATED THE ASSOCIATION'S TAX POSITIONS AND CONCLUDED THAT THE ASSOCIATION HAS TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE CONSOLIDATED FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THIS GUIDANCE. GENERALLY, THE ASSOCIATION IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY THE U.S. FEDERAL, STATE, OR LOCAL TAX AUTHORITIES FOR YEARS BEFORE 2011. PART XI, LINE 2D - OTHER ADJUSTMENTS: AFFILIATE REVENUE INCLUDED IN THE CONSOLIDATED FINANCIAL STATEMENT -224,526. PART XII, LINE 2D - OTHER ADJUSTMENTS: AFFILIATE EXPENSES INCLUDED IN THE CONSOLIDATED FINANCIAL STATEMENT 1,824,158. EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENT IN C-STREAM, LTD. 253206 0 0 0 0 0 0 253206 0 253206 0 0 1 0 0 0 X 1 1 X X X X X 0 0 0 JAMES KAITZ CEO 570290 0 300000 0 24546 0 27635 0 19833 0 942304 0 0 0 JOSEPH DESALVIO CFO 232583 0 29846 0 18466 0 37252 0 18340 0 336487 0 0 0 JEFF GLENZER CHIEF OPERATING OFFICER 190277 0 30000 0 18080 0 33795 0 16594 0 288746 0 0 0 PATRICK CULKIN VP STRATEGY 152368 0 30000 0 17673 0 31687 0 17294 0 249022 0 0 0 PAUL AUCHINCLOSS MANAGING DIRECTOR, SALES 491939 0 0 0 18357 0 44742 0 15614 0 570652 0 0 0 DAVID LEWIS MANAGING DIRECTOR, MEMBERS 148734 0 24000 0 18754 0 20901 0 15449 0 227838 0 0 0 DEBORAH FORBES EXECUTIVE DIRECTOR, CIEBA 200871 0 23000 0 20272 0 34254 0 2381 0 280778 0 0 0 ELIZABETH JOHNS MANAGING DIRECTOR- COMMUNICATIONS 146883 0 23000 0 18198 0 26389 0 2046 0 216516 0 0 0 KEVIN ROTH MANAGING DIRECTOR, RESEARC 149988 0 24500 0 17783 0 27628 0 20408 0 240307 0 0 0 CRAIG MARTIN DIRECTOR, TREASURY PRACTIC 172464 0 14000 0 2130 0 27185 0 15439 0 231218 0 0 0 MARYELLEN SAUNDERS MANAGING DIRECTOR, EDUCATI 141381 0 24000 0 19306 0 25304 0 10286 0 220277 0 0 0 PART I, LINE 1A JAMES KAITZ, HEALTH CLUB DUES $534, INCLUDED IN TAXABLE WAGES FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION HAS FOLLOWING TYPES OF MEMBERS: PRACTITIONER MEMBER - AN INDIVIDUAL IS A PRACTITIONER MEMBER IF HE OR SHE IS INVOLVED IN FINANCIAL MANAGEMENT FUNCTIONS WITHIN HIS OR HER ORGANIZATION AND IS A MAJOR PARTICIPANT IN DECISION-MAKING REGARDING SUCH FUNCTIONS. ASSOCIATE MEMBER - AN INDIVIDUAL WILL BE CONSIDERED AN ASSOCIATE MEMBER IF HE OR SHE DOES NOT MEET THE MEMBERSHIP CRITERIA TO BE A PRACTITIONER MEMBER, BUT IS INVOLVED IN, OR INTERESTED IN, FINANCIAL MANAGEMENT ACTIVITIES SUCH AS BANKING, CONSULTING, ETC. ACADEMIC MEMBER - AN INDIVIDUAL IS AN ACADEMIC MEMBER IF HE OR SHE IS EMPLOYED FULL TIME BY A POST-SECONDARY EDUCATIONAL INSTITUTION AND HIS/HER PRINCIPAL DUTIES INVOLVE TEACHING AND RESEARCH IN MATTERS RELATED TO TREASURY AND FINANCIAL MANAGEMENT. STUDENT MEMBER - AN INDIVIDUAL IS A STUDENT MEMBER IF HE/SHE IS A COLLEGE OR UNIVERSITY JUNIOR, SENIOR OR GRADUATE LEVEL STUDENT MAJORING IN A BUSINESS OR FINANCE RELATED FIELD. FORM 990, PART VI, SECTION A, LINE 7A ONLY PRACTITIONER MEMBERS ARE ALLOWED TO VOTE ON ASSOCIATION FOR FINANCIAL PROFESSIONALS MATTERS AND HOLD OFFICE IN THE ASSOCIATION FOR FINANCIAL PROFESSIONALS. PRACTITIONERS ELECT A SLATE OF BOARD CANDIDATES BY DIRECT BALLOTS. FORM 990, PART VI, SECTION A, LINE 7B PRACTITIONER MEMBERS CAN VOTE ON ALL ASSOCIATION FOR FINANCIAL PROFESSIONAL MATTERS INCLUDING CHANGES TO GOVERNING DOCUMENTS. FORM 990, PART VI, SECTION B, LINE 11 THE ASSOCIATION'S MANAGEMENT REVIEWS THE FORM 990 IN DETAIL. AFP WILL PROVIDE AN ELECTRONIC COPY OF THE FORM TO THE BOARD MEMBERS TO ACCESS FOR REVIEW AND ASK QUESTIONS AFTER FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ALL EMPLOYEES AND ALL MEMBERS OF THE BOARD OF DIRECTORS ARE REQUIRED TO CERTIFY ANNUALLY THAT THEY WILL COMPLY WITH ASSOCIATION POLICY ON CONFLICTS OF INTEREST AND DISCLOSE CONFLICTS OF INTEREST. INFORMATION CONCERNING POSSIBLE VIOLATIONS OF ASSOCIATION POLICY ARE TO BE REPORTED TO SENIOR MANAGEMENT (CEO, COO, CFO OR DIRECTOR OF HR) OR, IN THE CASE OF INFORMATION CONCERNING FINANCIAL CONFLICTS OF INTEREST, MAY BE REPORTED DIRECTLY TO THE AUDIT COMMITTEE OF THE BOARD OF DIRECTORS. POTENTIAL CONFLICTS ARE ADDRESSED ON A CASE-BY-CASE BASIS BY THE APPROPRIATE LEVEL OF MANAGEMENT OR BY THE AUDIT COMMITTEE OF THE BOARD OF DIRECTORS. IF A CONFLICT IS DETERMINED TO EXIST AT THE BOARD LEVEL, THE INDIVIDUAL IS NOT PERMITTED TO VOTE ON THE TRANSACTION. ALL PROCEEDINGS RELATED TO CONFLICT OF INTEREST ARE NOTED IN THE MEETING MINUTES. FORM 990, PART VI, SECTION B, LINE 15A THE BOARD RETAINS AN INDEPENDENT CONSULTANT TO RECOMMEND CHANGES TO PRESIDENT/CEO COMPENSATION. THE CONSULTANT MAKES RECOMMENDATIONS TO THE OVERSIGHT COMMITTEE OF THE BOARD BASED ON ANALYSIS OF PRESIDENT/CEO COMPENSATION AT PEER ORGANIZATIONS AS DETERMINED BY THE BOARD OF DIRECTORS. THE PROCESS FOR DETERMINING COMPENSATION LEVELS FOR OTHER OFFICERS AND KEY EMPLOYEES INCLUDES ANALYSIS OF EACH POSITION BASED ON BENCHMARKS AGAINST OTHER ORGANIZATIONS OF SIMILAR SIZE AND COMPLEXITY BY THE HUMAN RESOURCES DEPARTMENT. ANNUAL EMPLOYEE REVIEWS ARE CONDUCTED BY THE CEO AND OR DIRECT SUPERVISOR. FORM 990, PART VI, SECTION C, LINE 19 THE ASSOCIATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC. FORM 990, PART IX, LINE 11G OUTSIDE SERVICES 4,684,088. CONSULTANTS 192,151. TEMPORARY EMPLOYMENT 80,248. FORM 990, PART XI, LINE 9: FOREIGN CURRENCY GAIN 10,219. ASSOCATION FOR FINANCIAL PROFESSIONALS OF CANADA 4520 EAST WEST HIGHWAY STE 750 BETHESDA MD 20814 863274908 MEMBER ASSOCIATION CA N/A 0 C-STREAM LTD DBA GTNEWS 3RD FLOOR NORTHUMBERLAND HOUSE 155- LONDON UK W1W 6QP WEB BASED GLOBAL TREASURY/FINANCE RESOURCE UK ASSOCIATION FOR FINANCIAL PROFESSIONALS C 54086 253206 1.00000 1 MYGUIDES LTD DBA BOBSGUIDE 3RD FLOOR NORTHUMBERLAND HOUSE 155- LONDON UK W1W 6QP ADVERTISING RESOURCE FOR THE FINANCIAL COMMUNITY UK C-STREAM LTD DBA GTNEWS C 515647 1.00000 1 AFP ADVISORS NETWORK LLC 4520 EAST-WEST HIGHWAY SUITE 750 BETHESDA MD 20814 462601186 PROJECT BASED CONSULTING SERVICES DE ASSOCIATION FOR FINANCIAL PROFESSIONALS C 174264 268903 1.00000 1 1 1 0 1 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 AFP ADVISORS NETWORK LLC B 100000 BOOK VALUE AFP ADVISORS NETWORK LLC D 757923 BOOK VALUE AFP ADVISORS NETWORK LLC Q 91583 BOOK VALUE C-STREAM LTD DBA GTNEWS P 50775 BOOK VALUE C-STREAM LTD DBA GTNEWS D 2896203 BOOK VALUE MYGUIDES LTD DBA BOBSGUIDE Q 50000 BOOK VALUE ASSOCIATION FOR FINANCIAL PROFESSIONALS OF CANADA Q 249333 BOOK VALUE