2014-05-13T13:09:15-05:00 2013-06-30 420714325 MCGLADREY LLP 9737 WASHINGTONIAN BLVD 400 GAITHERSBURG MD 208787340 990 2012-07-01 581424769 ASSOCIATION FOR FINANCIAL PROFESSIONALS ASSO 3019072862 4520 EAST WEST HIGHWAY NO 750 BETHESDA MD 20814 JOSEPH A DESALVIO 3019072862 2014-05-13 1 WILLIAM E TURCO CPA P00369217 3012963600 2012 2015-11-30 17:44:51Z JAMES A KAITZ 4520 EAST WEST HIGHWAY NO 750 BETHESDA MD 20814 31692247 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 84 140 1110062 53267 0 0 19662900 19065972 1060986 1498071 634323 1215206 21358209 21779249 0 15486 0 0 8868136 9372021 0 0 0 12166139 14484649 21034275 23872156 323934 -2092907 35542209 34285297 16023411 16212235 19518798 18073062 X TO BE THE PREFERRED GLOBAL RESOURCE AND ADVOCATE FOR THE FINANCE PROFESSION. 0 1 ANNUAL CONFERENCE:PREMIER NETWORKING AND EDUCATIONAL EVENT INCLUDING MORE THAN 130 WORK-SHOPS, 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 3300 CANDIDATES. IN ADDITION, APPROXIMATELY 2574 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 GOVERNMENT RELATIONS WEBSITE CIEBA 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 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 89 0 1 84 1 1 1 1 CA UK 0 0 0 0 X 15 15 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 0 0 X JOSEPH DESALVIO 3019072862 4520 EAST WEST HIGHWAY NO 750 BETHESDA MD 20814 SUSAN GLASS 5.00 X X 0 0 0 JEFF JOHNSON 5.00 X X 0 0 0 ANITA PATTERSON 5.00 X X 0 0 0 MIKE CONNOLLY 5.00 X 0 0 0 ANN ANTHONY 5.00 X 0 0 0 JEFF CAPPELLETTI 5.00 X 0 0 0 ROBERTA EISEMAN 5.00 X 0 0 0 PATRICIA HUI 5.00 X 0 0 0 FERDINAND JAHNEL 5.00 X 0 0 0 JUNE JOHNSON 5.00 X 0 0 0 KATRIA KOWAL 5.00 X 0 0 0 SHARON PETREY 5.00 X 0 0 0 JOAN PISCITELLO 5.00 X 0 0 0 ANTHONY SCAGLIONE 5.00 X 0 0 0 ADRIENNE URBAN 5.00 X 0 0 0 JAMES KAITZ 50.00 X 801407 0 53361 JOSEPH DESALVIO 50.00 X 276043 0 44460 THOMAS DERRY 50.00 X 154114 0 41104 JEFF GLENZER 40.00 X 217749 0 45524 PAUL AUCHINCLOSS 40.00 X 350784 0 79773 DAVID LEWIS 40.00 X 186977 0 35322 DEBORAH FORBES 40.00 X 230187 0 35895 ROBERT GREEN 40.00 X 189532 0 41483 KEVIN ROTH 40.00 X 187043 0 40874 CRAIG MARTIN 40.00 X 183091 0 41320 MARYELLEN SAUNDERS 40.00 X 178399 0 31596 2955326 0 490712 25 0 1 0 FREEMAN 10401 CONNECTICUT AVENUE SUITE 103 KENSINGTON MD 20895 AUDIO VISUAL-CONFERENCE 1848284 FONTAINEBLEAU MIAMI BEACH 4441 COLLINS AVENUE MIAMI BEACH FL 33140 CONFERENCE 1615467 CENTERPLATE 1901 CONVENTION CENTER DRIVE MIAMI BEACH FL 33139 CATERING 931227 WILLIAMS GERARD 420 NORTH WAVASH CHICAGO IL 60611 CONFERENCE-PRODUCTION 511786 MCARDLE 800 COMMERCE DRIVE UPPER MARLBORO MD 20774 PRINTING 374484 26 CONFERENCES 541900 10320889 6270263 265255 3785371 MEMBERSHIP DUES 900099 4911478 4911478 PROFESSIONAL DEVELOPME 541900 2975444 2842543 132901 COMMUNICATIONS 511120 711906 711906 CIEBA 541900 146255 146255 19065972 671001 671001 7798 7798 10740068 9912998 827070 827070 827070 MANAGEMENT FEES 541800 952072 952072 INTERCOMPANY INTEREST 900099 145420 145420 OTHER REVENUE 900099 109916 109916 1207408 21779249 14170539 1110062 6498648 X 15486 2146426 5505242 558111 664182 498060 234433 287544 79165 4469475 7970 1494617 69556 1067392 996194 1693851 46254 528490 141887 TAXES 60308 IMPAIRMENT LOSS 1803877 HONORARIA 722995 LOSS ON TSFR OF ASSETS 668792 111849 23872156 611511 2205644 634811 1126269 1267432 1222697 4765890 3221467 1892056 1544423 21123142 19516154 100000 2454391 650514 7558866 7919596 35542209 34285297 2211347 2196752 8079459 9248350 1250000 625000 234571 4482605 3907562 16023411 16212235 X 18227815 16451478 1290983 1621584 19518798 18073062 35542209 34285297 X -2092907 627273 19898 X 0 1 X 1 0 0 0 0 4911478 49253 49253 49253 1833545 1154643 678902 2170410 1624347 546063 761935 442477 319458 1544423 DEFERRED COMPENSATION 2525278 DUE FROM AFP CANADA 257780 DUE FROM GT NEWS 4372530 DUE FROM BOBSGUIDE 553764 DUE FROM ASSOCIATION 50283 DUE FROM AFPN 128342 DEPOSITS 31619 7919596 DEFERRED COMPENSATION 2525278 DEFERRED RENT 1194251 CAPITAL LEASE PAYABLE 3015 DUE TO AFP CANADA 72893 DUE TO ASSOCIATION 50283 DUE TO C-STREAM 61842 3907562 X 22772101 627273 444744 1072017 21700084 79165 79165 21779249 26178549 2405456 2405456 23773093 79165 19898 99063 23872156 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: 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 YEAR ENDED JUNE 30, 2013 AND 2012, THE ASSOCIATION HAD NET UNRELATED BUSINESS INCOME OF APPROXIMATELY $23,774 AND $128,478, 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 2010. PART XI, LINE 2D - OTHER ADJUSTMENTS: AFFILIATE REVENUE INCLUDED IN THE CONSOLIDATED FINANCIAL STATEMENT 444,744. PART XII, LINE 2D - OTHER ADJUSTMENTS: AFFILIATE EXPENSES INCLUDED IN THE CONSOLIDATED FINANCIAL STATEMENT 2,405,456. PART XII, LINE 4B - OTHER ADJUSTMENTS: FOREIGN CURRENCY GAIN 19,898. EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENT IN C-STREAM, LTD. 1356523 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENT IN MYGUIDES, LTD. 964550 0 0 0 0 0 0 2321073 0 2321073 0 0 1 0 0 0 0 X 1 1 X X X X X 0 0 0 JAMES KAITZ 492367 0 285000 0 24040 0 38051 0 17695 0 857153 0 0 0 JOSEPH DESALVIO 233577 0 24500 0 17966 0 30870 0 19075 0 325988 0 0 0 THOMAS DERRY 153596 0 0 0 518 0 30483 0 12376 0 196973 0 0 0 JEFF GLENZER 175669 0 24500 0 17580 0 31934 0 15626 0 265309 0 0 0 PAUL AUCHINCLOSS 332959 0 0 0 17825 0 66183 0 14775 0 431742 0 0 0 DAVID LEWIS 145623 0 24500 0 16854 0 21732 0 14285 0 222994 0 0 0 DEBORAH FORBES 195040 0 15375 0 19772 0 22872 0 13850 0 266909 0 0 0 ROBERT GREEN 189032 0 0 0 500 0 27698 0 14500 0 231730 0 0 0 KEVIN ROTH 145260 0 24500 0 17283 0 27284 0 19288 0 233615 0 0 0 CRAIG MARTIN 168703 0 13000 0 1388 0 27730 0 14310 0 225131 0 0 0 MARYELLEN SAUNDERS 138101 0 22121 0 18177 0 25061 0 9150 0 212610 0 0 0 PART I, LINE 1A JAMES KAITZ, HEALTH CLUB DUES $528, INCLUDED IN TAXABLE WAGES CHANGES IN PROGRAM SERVICES FORM 990, PART III, LINE 3 THE NEW CERTIFIED CORPORATE FP&A PROFESSIONAL CREDENTIALS ARE BEING ESTABLISHED. EXPENSES RELATED TO THE CREDENTIAL ARE INCLUDED WITHIN THE PROFESSIONAL DEVELOPMENT PROGRAM. 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 AND THEN PROVIDES AN ELECTRONIC COPY OF THE REVIEWED DRAFT FOR BOARD MEMBERS TO ACCESS FOR REVIEW AND ASK QUESTIONS PRIOR TO 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. THIS WAS MOST RECENTLY COMPLETED IN 2012. 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. OTHER FEES FORM 990, PART IX, LINE 11G OUTSIDE SERVICES: TOTAL EXPENSES 4,100,903. CONSULTANTS: TOTAL EXPENSES 335,675. TEMPORARY EMPLOYMENT: TOTAL EXPENSES 32,897. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: FOREIGN CURRENCY GAIN 19,898. ASSOCATION FOR FINANCIAL PROFESSIONALS OF CANADA 40 KING STREET WEST 5800 TORONTO, ONTARIO CA M5H3SA 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 963952 1356523 1.00000 0 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 1197248 964550 1.00000 0 AFP ADVISORS NETWORK LLC 4520 EAST-WEST HIGHWAY SUITE 750 BETHESDA MD 20814 462601186 PROJECT BASED CONSULTING SERVICES DE ASSOCIATION FOR FINANCIAL PROFESSIONALS C 113215 1.00000 0 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 128342 BOOK VALUE AFP ADVISORS NETWORK LLC Q 38072 BOOK VALUE C-STREAM LTD DBA GTNEWS A 145420 BOOK VALUE C-STREAM LTD DBA GTNEWS Q 300000 BOOK VALUE C-STREAM LTD DBA GTNEWS D 4310688 BOOK VALUE MYGUIDES LTD DBA BOBSGUIDE Q 240000 BOOK VALUE MYGUIDES LTD DBA BOBSGUIDE D 553764 BOOK VALUE ASSOCIATION FOR FINANCIAL PROFESSIONALS OF CANADA Q 374000 BOOK VALUE ASSOCIATION FOR FINANCIAL PROFESSIONALS OF CANADA D 184887 BOOK VALUE C-STREAM LTD DBA GTNEWS H 648878 BOOK VALUE