FINANCIAL ACCOUNTING FOUNDATION: Form 990, tax year 2011
View the entire original 990 at ProPublica ↗
- Organization
- FINANCIAL ACCOUNTING FOUNDATION (EIN 23-7211935)
- Tax period
- 2011-01-01 to 2011-12-31
- Filed
- 2012-05-14
- IRS object ID
- 201221359349301062
- Schema version
- 2011v1.2
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
- Return header
- Form 990
- Schedule A
- Schedule B
- Schedule C
- Schedule D
- Schedule F
- Schedule J
- Schedule L
- Schedule O
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timestamp | 2012-05-14T08:54:06-05:00 | Timestamp |
| Tax Period End Date | 2011-12-31 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 420714325 | EIN |
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MCGLADREY LLP | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 8000 TOWERS CRESCENT DR STE 500 | AddressLine1 |
| City | VIENNA | City |
| State | VA | State |
| ZIP Code | 221826205 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2011-01-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 237211935 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | FINANCIAL ACCOUNTING FOUNDATION | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | FINA | NameControl |
| Phone | 2038470700 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 401 MERRITT 7 PO BOX 5116 | AddressLine1 |
| City | NORWALK | City |
| State | CT | State |
| ZIP Code | 06856 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | TERESA S POLLEY | Name |
| Title | PRESIDENT AND CEO | Title |
| Phone | 2038470700 | Phone |
| Date Signed | 2012-05-14 | DateSigned |
| Authorize Third Party | 1 | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | JAMES P SWEENEY CPA | Name |
| PTIN | P01263012 | PTIN |
| Phone | 7033366400 | Phone |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2011 | TaxYear |
| Build TS | 2016-02-24 21:20:13Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | TERESA S POLLEY | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 401 MERRITT 7 PO BOX 5116 | AddressLine1 |
| City | NORWALK | City |
| State | CT | State |
| ZIP Code | 06856 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 50462039 | GrossReceipts |
| Group Return For Affiliates | 0 | GroupReturnForAffiliates |
| Organization501c3 | X | Organization501c3 |
| Web Site | ACCOUNTINGFOUNDATION.ORG,FASB.ORG,GASB.ORG | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 1972 | YearFormation |
| State Legal Domicile | DE | StateLegalDomicile |
| Activity Or Mission Description | THE MISSION OF THE FINANCIAL ACCOUNTING FOUNDATION (FAF) IS TO ESTABLISH FINANCIAL ACCOUNTING AND REPORTING STANDARDS, THROUGH AN INDEPENDENT AND OPEN PROCESS, RESULTING IN FINANCIAL REPORTS THAT PROVIDE DECISION-USEFUL INFORMATION. THE FAF, ORGANIZED IN 1972, IS THE INDEPENDENT, PRIVATE-SECTOR ORGANIZATION WITH RESPONSIBILITY FOR THE OVERSIGHT, ADMINISTRATION, AND FINANCES OF THE FINANCIAL ACCOUNTING STANDARDS BOARD (FASB), THE GOVERNMENTAL ACCOUNTING STANDARDS BOARD (GASB), AND THEIR ADVISORY COUNCILS, THE FINANCIAL ACCOUNTING STANDARDS ADVISORY COUNCIL (FASAC) AND THE GOVERNMENTAL ACCOUNTING STANDARDS ADVISORY COUNCIL (GASAC), ALL OF WHICH WERE ESTABLISHED TO PERFORM DISTINCT FUNCTIONS IN THE PROCESS OF ESTABLISHING AND IMPROVING FINANCIAL ACCOUNTING AND REPORTING STANDARDS. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 15 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 13 | NbrIndependentVotingMembers |
| Total Nbr Employees | 177 | TotalNbrEmployees |
| Total Nbr Volunteers | 180 | TotalNbrVolunteers |
| Total Gross UBI | 0 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | 0 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Prior Year | 1201974 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 1175115 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 0 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 0 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 1192041 | InvestmentIncomePriorYear |
| Investment Income Current Year | 1135265 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 47791445 | OtherRevenuePriorYear |
| Other Revenue Current Year | 43984043 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 50185460 | TotalRevenuePriorYear |
| Total Revenue Current Year | 46294423 | TotalRevenueCurrentYear |
| Grants And Similar Amnts Prior Year | 0 | GrantsAndSimilarAmntsPriorYear |
| Grants And Similar Amnts CY | 500000 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members Prior Year | 0 | BenefitsPaidToMembersPriorYear |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 30134836 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 33625307 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp Prior Year | 0 | TotalProfFundrsngExpPriorYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 10250 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 10615921 | OtherExpensePriorYear |
| Other Expenses Current Year | 9750434 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 40750757 | TotalExpensesPriorYear |
| Total Expenses Current Year | 43875741 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | 9434703 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | 2418682 | RevenuesLessExpensesCY |
| Total Assets BOY | 82657790 | TotalAssetsBOY |
| Total Assets EOY | 82341462 | TotalAssetsEOY |
| Total Liabilities BOY | 14369342 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 14355612 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 68288448 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 67985850 | NetAssetsOrFundBalancesEOY |
| Info In Schedule O Part III | X | InfoInScheduleOPartIII |
| Mission Description | ESTABLISH AND IMPROVE FINANCIAL ACCOUNTING AND REPORTING STANDARDS, THROUGH AN INDEPENDENT AND OPEN PROCESS, RESULTING IN FINANCIAL REPORTS THAT PROVIDE DECISION-USEFUL INFORMATION. | MissionDescription |
| Significant New Program Services | 0 | SignificantNewProgramServices |
| Significant Change | 0 | SignificantChange |
| Expense | 29751864 | Expense |
| Grants | 500000 | Grants |
| Revenue | 42434860 | Revenue |
| Description | FINANCIAL ACCOUNTING STANDARDS BOARD (FASB)FINANCIAL ACCOUNTING STANDARDS ADVISORY COUNCIL (FASAC)THE FASB IS THE PRIVATE-SECTOR BOARD WITHIN THE FINANCIAL ACCOUNTING FOUNDATION (FAF) RESPONSIBLE FOR SETTING ACCOUNTING STANDARDS FOR NONGOVERNMENTAL ENTITIES IN THE UNITED STATES; THOSE STANDARDS ARE OFTEN REFERRED TO AS U.S. GAAP. THE MISSION OF THE FASB IS TO ESTABLISH AND IMPROVE STANDARDS OF FINANCIAL ACCOUNTING AND REPORTING THAT FOSTER FINANCIAL REPORTING BY NONGOVERNMENTAL ENTITIES THAT PROVIDES DECISION-USEFUL INFORMATION TO INVESTORS AND OTHER USERS OF FINANCIAL REPORTS. THAT MISSION IS ACCOMPLISHED THROUGH A COMPREHENSIVE AND INDEPENDENT PROCESS THAT ENCOURAGES BROAD PARTICIPATION, OBJECTIVELY CONSIDERS ALL STAKEHOLDER VIEWS, AND IS SUBJECT TO OVERSIGHT BY THE FAF'S BOARD OF TRUSTEES. THE FASB BELIEVES THAT BY FAITHFULLY IMPLEMENTING U.S. GAAP, ENTITIES WILL PRODUCE FINANCIAL REPORTS THAT PROVIDE USEFUL INFORMATION TO INVESTORS, CREDITORS, AND OTHER PROVIDERS OF CAPITAL.IN 2011, THE FASB BOARD TOOK A NUMBER OF SIGNIFICANT STEPS TO BETTER UNDERSTAND AND RESPOND TO EXPRESSED CONCERNS ABOUT THE APPROPRIATENESS OF U.S. GAAP FOR PRIVATE COMPANIES. * THE FASB BEGAN A PROJECT TO DEVELOP A COLLECTIVE, COMMON UNDERSTANDING OF THE INFORMATION NEEDS OF USERS OF PRIVATE COMPANY FINANCIAL STATEMENTS. THE FASB PLANS TO USE THAT INFORMATION TO DEVELOP A FRAMEWORK FOR DECIDING WHETHER AND WHEN THE ACCOUNTING AND DISCLOSURE REQUIREMENTS FOR PUBLIC COMPANIES SHOULD BE ADJUSTED TO BEST MEET THE NEEDS OF USERS OF PRIVATE COMPANY FINANCIAL STATEMENTS. THE FASB ALSO ESTABLISHED A WORKING GROUP TO HELP IT WITH THIS ANALYSIS COMPRISED OF PREPARERS, AUDITORS, AND USERS OF PRIVATE COMPANY FINANCIAL STATEMENTS. * TO IMPROVE THE OUTREACH TO PRIVATE COMPANIES ON ACTIVE AGENDA PROJECTS, THE FASB ASSIGNED A PRIVATE COMPANY LIAISON TO EVERY FASB PROJECT TEAM. * THE FASB HOSTED PRIVATE COMPANY ROUNDTABLES IN VARIOUS CITIES TO HEAR GENERAL CONCERNS AND SUGGESTIONS FROM STAKEHOLDERS IN THAT SECTOR. THE FASB ALSO HOSTED PRIVATE COMPANY-SPECIFIC ROUNDTABLES ON REVENUE RECOGNITION, LEASES, AND OTHER KEY PROJECTS. * TO HELP PRIVATE COMPANIES AND THEIR AUDITORS STAY INFORMED ABOUT FASB ACTIVITIES, THE FASB NOW HOLDS SEMIANNUAL EDUCATIONAL WEBCASTS THAT EXPLAIN HOW KEY PROJECTS COULD AFFECT PRIVATE COMPANIES.THESE EFFORTS HAVE ALREADY GENERATED SOME IMPORTANT RESULTS; INCLUDING ISSUING AN ACCOUNTING STANDARDS UPDATE (ASU) THAT MODIFIED REQUIREMENTS FOR GOODWILL FOR IMPAIRMENT TO REDUCE THE COST OF APPLICATION AND ADDING A PROJECT TO POSSIBLY REDUCE THE DISCLOSURES ABOUT FAIR VALUE FOR PRIVATE COMPANIES AND NOT-FOR-PROFITS. IN RESPONSE TO FEEDBACK RECEIVED FROM ITS NOT-FOR-PROFIT ADVISORY COMMITTEE, THE FASB ALSO ADDED A PROJECT TO REVIEW AND MODERNIZE THE FINANCIAL REPORTING MODEL FOR NOT-FOR-PROFIT ORGANIZATIONS.THE FASB CONTINUES TO MAKE STRIDES TOWARD THE GOAL OF A COMMON SET OF HIGH-QUALITY, GLOBALLY ACCEPTED ACCOUNTING STANDARDS BY WORKING COLLABORATIVELY WITH THE INTERNATIONAL ACCOUNTING STANDARDS BOARD (IASB) ON JOINT PROJECTS TO IMPROVE AND CONVERGE STANDARDS IN SEVERAL KEY FINANCIAL REPORTING AREAS IN 2011 INCLUDING: * THE FASB AND IASB ISSUED A REVISED EXPOSURE DRAFT (ED) ON REVENUE RECOGNITION THAT INCORPORATED FEEDBACK FROM MORE THAN 1,000 COMMENT LETTERS RECEIVED ON THE 2010 ED. * THE FASB AND IASB ANNOUNCED THAT THAT A REVISED ED ON LEASES IS EXPECTED TO BE ISSUED IN 2012. * THE FASB AND IASB ISSUED COMMON FAIR VALUE MEASUREMENT AND DISCLOSURE REQUIREMENTS. * THE FASB AND IASB HAVE BEGUN WORK TO REDUCE DIFFERENCES IN OUR RESPECTIVE MODELS FOR ACCOUNTING FOR FINANCIAL INSTRUMENTS. * THE FASB AND IASB REAFFIRMED THE DESIRE FOR A CONVERGED STANDARD ON INSURANCE CONTRACTS AND ARE DEVELOPING A MODEL THAT WOULD REFLECT CURRENT ESTIMATES OF THE AMOUNT NECESSARY TO FULFILL AN INSURANCE OBLIGATION. IN 2011, THE FASB COMPLETED SEVERAL PROJECTS TO BRING ABOUT NEEDED IMPROVEMENTS IN U.S. GAAP. FOR EXAMPLE, THE FASB ISSUED STANDARDS TO IMPROVE FINANCIAL REPORTING ABOUT TROUBLED DEBT RESTRUCTURING, REPURCHASE AGREEMENTS, AND EMPLOYER DISCLOSURES ABOUT MULTIEMPLOYER PENSION PLANS. THE FASB ALSO CONTINUED ITS RESPONSIBILITY FOR PRESCRIBING THE U.S. GAAP TAXONOMY FOR THE EXTENSIBLE BUSINESS REPORTING LANGUAGE (XBRL). IN 2011, THE FASB LAUNCHED A NEW TAXONOMY ONLINE REVIEW AND COMMENT SYSTEM. HAVING CONSISTENT TAGGING OF INFORMATION THAT IS BASED ON U.S. GAAP WILL ENHANCE THE QUALITY AND CONSISTENCY OF INFORMATION THAT PUBLIC COMPANIES PROVIDE IN THIS FLEXIBLE FORMAT. IN 2011, THE FOUNDATION INITIATED ITS FIRST POST-IMPLEMENTATION REVIEW (PIR) AS PART OF ITS RESPONSIBILITY FOR OVERSEEING THE STANDARD-SETTING PROCESSES OF THE FASB AND GASB. THE FOUNDATION DECIDED TO TEST THE PIR PROCESS WITH A REVIEW OF FASB INTERPRETATION (FIN) NO. 48, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. FOR MUCH OF 2011, A PIR TEAM OF EXPERIENCED STAFF MEMBERS CONDUCTED RESEARCH AND OUTREACH THAT LED TO THE ISSUANCE OF A FINAL REPORT IN JANUARY 2012. THE REPORT CONCLUDED THAT FIN 48 HAD GENERALLY MET ITS OBJECTIVES, BUT SUGGESTED SEVERAL PROCESS IMPROVEMENTS TO THE FASB. SOME OF THESE RECOMMENDATIONS ALREADY HAVE BEEN ADOPTED BY THE FASB, AND THE FASB SAID IT WILL EVALUATE HOW BEST TO RESPOND TO OTHER RECOMMENDATIONS. THE FASAC COMPRISES 36 MEMBERS WHO REPRESENT A BROAD CROSS-SECTION OF THE FASB'S STAKEHOLDERS. THE MEMBERS OF THE FASAC, WITH THE EXCEPTION OF THE FASAC CHAIRMAN, ARE VOLUNTEERS WHO ARE APPOINTED FOR A ONE-YEAR TERM AND ARE ELIGIBLE TO BE REAPPOINTED FOR THREE ADDITIONAL ONE-YEAR TERMS. THE PRIMARY FUNCTION OF FASAC IS TO ADVISE THE FASB ON ISSUES RELATED TO PROJECTS ON THE FASB'S AGENDA, POSSIBLE NEW AGENDA ITEMS, PROJECT PRIORITIES, PROCEDURAL MATTERS THAT MAY REQUIRE THE ATTENTION OF THE FASB, AND OTHER MATTERS AS REQUESTED BY THE CHAIRMAN OF THE FASB. FASAC MEETINGS PROVIDE THE FASB WITH AN OPPORTUNITY TO OBTAIN AND DISCUSS THE VIEWS OF A VERY DIVERSE GROUP OF INDIVIDUALS FROM VARIED BUSINESS AND PROFESSIONAL BACKGROUNDS. | Description |
Activity2 Activity2
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | 5749277 | Expense |
| Revenue | 1537518 | Revenue |
| Description | GOVERNMENTAL ACCOUNTING STANDARDS BOARD (GASB)GOVERNMENTAL ACCOUNTING STANDARDS ADVISORY COUNCIL (GASAC)THE GASB IS THE PRIVATE-SECTOR BOARD WITHIN THE FAF RESPONSIBLE FOR SETTING ACCOUNTING AND FINANCIAL REPORTING STANDARDS FOR STATE AND LOCAL GOVERNMENTS. OPERATING WITHIN THE FAF, THE GASB ESTABLISHES ACCOUNTING AND REPORTING STANDARDS THAT RESULT IN THE COMMUNICATION OF DECISION-USEFUL INFORMATION AND THAT FACILITATE PUBLIC ACCOUNTABILITY OF GOVERNMENT FINANCIAL OPERATIONS FOR CITIZENS AND OTHER CONSTITUENCIES, SUCH AS LEGISLATIVE AND OVERSIGHT BODIES, AND INVESTORS AND CREDITORS. WHETHER SETTING NEW STANDARDS, IMPROVING EXISTING ONES, OR HELPING CONSTITUENTS TO IMPLEMENT AND UNDERSTAND THOSE STANDARDS, GASB'S AIM IS TO PROMOTE GREATER TRANSPARENCY, TO SUPPORT WELL-INFORMED DECISION MAKING, AND TO HELP USERS ASSESS A GOVERNMENT'S FINANCIAL ACCOUNTABILITY. WE MADE SIGNIFICANT PROGRESS TOWARD THOSE ENDS IN 2011.THE GASB ISSUED TWO FINAL STATEMENTS IN 2011 THAT SOLVED IMPORTANT PRACTICE ISSUES FACING OUR CONSTITUENTS. STATEMENT NO. 63, FINANCIAL REPORTING OF DEFERRED OUTFLOWS OF RESOURCES, DEFERRED INFLOWS OF RESOURCES, AND NET POSITION, CLARIFIES WHERE DEFERRED AMOUNTS SHOULD APPEAR IN A NEW STATEMENT OF NET POSITION. STATEMENT NO. 64, DERIVATIVE INSTRUMENTS: APPLICATION OF HEDGE ACCOUNTING TERMINATION PROVISIONS, AMENDS EXISTING STANDARDS TO RESPOND TO CONCERNS OF GOVERNMENTS WHOSE DERIVATIVES HAD BECOME INEFFECTIVE FROM A FINANCIAL REPORTING PERSPECTIVE THROUGH NO FAULT OF THEIR OWN.THE GASB BOARD AND STAFF DEVOTED SIGNIFICANT TIME AND ATTENTION TO THE REVIEW AND IMPROVEMENT OF THE CURRENT PENSION ACCOUNTING AND FINANCIAL REPORTING STANDARDS, AND IN 2011 THE GASB ISSUED TWO EXPOSURE DRAFTS, ACCOUNTING AND FINANCIAL REPORTING FOR PENSIONS, AND FINANCIAL REPORTING FOR PENSION PLANS. IN ADDITION TO REEXAMINING EXISTING GASB STANDARDS, THE GASB ALSO CONTINUED ITS WORK ON OTHER PROJECTS, INCLUDING: * A PRELIMINARY VIEWS, ECONOMIC CONDITION REPORTING: FINANCIAL PROJECTIONS. THE PRELIMINARY VIEWS PRESENTS THE GASB'S INITIAL THINKING ON THE KEY ISSUES RELATED TO REPORTING FINANCIAL PROJECTIONS TO ASSIST USERS WITH ASSESSING A GOVERNMENT'S FISCAL SUSTAINABILITY AND OVERALL ECONOMIC CONDITION. * PRELIMINARY VIEWS OF A CONCEPTS STATEMENT, RECOGNITION OF ELEMENTS OF FINANCIAL STATEMENTS AND MEASUREMENT APPROACHES. IT ADDRESSES HOW AND WHEN AN ITEM SHOULD BE REPORTED IN FINANCIAL STATEMENTS AND HOW TO MEASURE THE AMOUNT OF THE ITEM TO BE REPORTED. * TWO ADDITIONAL EXPOSURE DRAFTS ISSUED IN 2011 LED TO FINAL STATEMENTS ISSUED IN MARCH 2012. ONE DRAFT ADDRESSED ITEMS PREVIOUSLY REPORTED AS ASSETS AND LIABILITIES THAT SHOULD HENCEFORTH BE REPORTED AS DEFERRED OUTFLOWS OF RESOURCES, DEFERRED INFLOWS OF RESOURCES, OR CURRENT-PERIOD OUTFLOWS OR INFLOWS. THE OTHER DRAFT PROPOSED TECHNICAL CORRECTIONS TO ELIMINATE CONFLICTING GUIDANCE THAT AROSE DUE TO THE ISSUANCE OF TWO RECENT STATEMENTS.WHILE THE MAJORITY OF TIME IS DEVOTED TO DEVELOPING ACCOUNTING AND FINANCIAL REPORTING STANDARDS, THE GASB STAFF SPENDS A SIGNIFICANT AMOUNT OF TIME HELPING CONSTITUENTS UNDERSTAND AND IMPLEMENT STANDARDS BY PROVIDING THEM WITH DIRECT ASSISTANCE ADDRESSING THEIR SPECIFIC FACTS AND CIRCUMSTANCES. DURING THE PAST YEAR, THE GASB RESPONDED TO NEARLY 1,800 TECHNICAL INQUIRIES THAT REQUIRED A SPECIFIC RESPONSE ABOUT THE APPLICATION AND IMPLEMENTATION OF OUR STANDARDS. IN ADDITION, THE GASB BOARD AND STAFF MADE APPROXIMATELY 100 PRESENTATIONS AT CONFERENCES AND CONSTITUENT EVENTS ACROSS THE COUNTRY AND PUBLISHED EDUCATIONAL MATERIALS DESIGNED TO ENHANCE THE UNDERSTANDABILITY OF OUR WORK, INCLUDING PLAIN LANGUAGE ARTICLES, PODCASTS, A MONTHLY NEWSLETTER, AND A USER-ORIENTED ELECTRONIC NEWSLETTER. ALSO, THE ANNUAL UPDATED COMPREHENSIVE IMPLEMENTATION GUIDE WAS PUBLISHED, WHICH ANSWERS NEARLY 2,000 QUESTIONS ON GOVERNMENTAL ACCOUNTING TOPICS.THE GASB STAFF MADE SIGNIFICANT PROGRESS IN UPDATING AND EXPANDING THE GASB'S SERIES OF USER GUIDES, WHICH ARE WRITTEN FOR A NONTECHNICAL AUDIENCE USING PLAIN LANGUAGE AND ARE INTENDED TO SERVE AS A PRIMER TO UNDERSTANDING GOVERNMENTAL FINANCIAL REPORTS. THE FIRST REVISED GUIDE, WHICH ADDRESSES LOCAL GOVERNMENT FINANCES, WAS ISSUED LATE LAST YEAR. UPDATED OR ENTIRELY NEW GUIDES ADDRESSING SCHOOL DISTRICTS, BUSINESS-TYPE ACTIVITIES, AND INFORMATION FOR FINANCIAL ANALYSTS WILL BE PUBLISHED IN 2012.THE THIRTY-MEMBER GASAC IS AN ORGANIZATION OF KNOWLEDGEABLE AND EXPERIENCED PROFESSIONALS REPRESENTING THE GASB'S VARIED CONSTITUENTS WHO VOLUNTEER THEIR SERVICES TO WORK WITH THE GASB IN AN ADVISORY CAPACITY TO ENHANCE THE STANDARD SETTING PROCESS BY CONSULTING WITH THE GASB ON TECHNICAL ISSUES, PROJECT PRIORITIES, AND OTHER MATTERS LIKELY TO CONCERN THE GASB. GASAC MEMBERS ALSO PROVIDE AN IMPORTANT COMMUNICATION LINK BETWEEN THE GASB AND CONSTITUENT GROUPS, AND THEY STRIVE TO ENSURE THAT CONSTITUENT VIEWS ARE CONSISTENTLY AND EFFECTIVELY COMMUNICATED TO THE GASB ON A TIMELY BASIS. | Description |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Expense | 35501141 | TotalProgramServiceExpense |
| Described In501 C3 | 1 | DescribedIn501C3 |
| Schedule B Required | 1 | ScheduleBRequired |
| Political Activities | 0 | PoliticalActivities |
| Lobbying Activities | 1 | LobbyingActivities |
| Subject To Proxy Tax | 0 | SubjectToProxyTax |
| Donor Advised Funds | 0 | DonorAdvisedFunds |
| Conservation Easements | 0 | ConservationEasements |
| Collections Of Art | 0 | CollectionsOfArt |
| Credit Counseling | 0 | CreditCounseling |
| Term Or Permanent Endowments | 0 | TermOrPermanentEndowments |
| Report Land Bldg Equip | 1 | ReportLandBldgEquip |
| Report Invest Oth Securities | 0 | ReportInvestOthSecurities |
| Report Prog Rel Invest | 0 | ReportProgRelInvest |
| Report Other Assets | 0 | ReportOtherAssets |
| Report Other Liabilities | 1 | ReportOtherLiabilities |
| Report Fin48 Footnote | 1 | ReportFin48Footnote |
| Independent Audit Financial Stmt | 1 | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | 0 | ConsolidatedAuditFinancialStmt |
| School | 0 | School |
| Foreign Office | 0 | ForeignOffice |
| Foreign Activities | 1 | ForeignActivities |
| More Than5000 K To Organizations | 1 | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividuals |
| Professional Fundraising | 0 | ProfessionalFundraising |
| Fundraising Activities | 0 | FundraisingActivities |
| Gaming | 0 | Gaming |
| Hospital | 0 | Hospital |
| Grants To Organizations | 0 | GrantsToOrganizations |
| Grants To Individuals | 0 | GrantsToIndividuals |
| Schedule J Required | 1 | ScheduleJRequired |
| Tax Exempt Bonds | 0 | TaxExemptBonds |
| Excess Benefit Transaction | 0 | ExcessBenefitTransaction |
| Prior Excess Benefit Transaction | 0 | PriorExcessBenefitTransaction |
| Loan To Officer Or DQP | 0 | LoanToOfficerOrDQP |
| Grant To Related Person | 0 | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | 0 | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | 0 | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | 1 | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | 0 | DeductibleNonCashContributions |
| Deductible Contributions Of Art | 0 | DeductibleContributionsOfArt |
| Terminated | 0 | Terminated |
| Partial Liquidation | 0 | PartialLiquidation |
| Disregarded Entity | 0 | DisregardedEntity |
| Related Entity | 0 | RelatedEntity |
| Related Org Controlled Entity | 0 | RelatedOrgControlledEntity |
| Transaction Related Entity | 0 | TransactionRelatedEntity |
| Transfers To Exempt Non Chrtbl Org | 0 | TransfersToExemptNonChrtblOrg |
| Activities Conducted Partnership | 0 | ActivitiesConductedPartnership |
| Schedule O Required | 1 | ScheduleORequired |
| Number Forms Transmitted With1096 | 103 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Compliance With Backup Witholding | 1 | ComplianceWithBackupWitholding |
| Number Of Employees | 177 | NumberOfEmployees |
| Employment Tax Returns Filed | 1 | EmploymentTaxReturnsFiled |
| Unrelated Business Income | 0 | UnrelatedBusinessIncome |
| Foreign Financial Account | 0 | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTrans |
| Taxable Party Notification | 0 | TaxablePartyNotification |
| Non Deductible Contributions | 0 | NonDeductibleContributions |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributions |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOf |
| Funds To Pay Premiums | 0 | FundsToPayPremiums |
| Premiums Paid | 0 | PremiumsPaid |
| Indoor Tanning Services | 0 | IndoorTanningServices |
| Info In Schedule O Part VI | X | InfoInScheduleOPartVI |
| Nbr Voting Governing Body Members | 15 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 13 | NumberIndependentVotingMembers |
| Family Or Business Relationship | 0 | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | 0 | DelegationOfManagementDuties |
| Changes To Organizing Docs | 0 | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuse |
| Members Or Stockholders | 0 | MembersOrStockholders |
| Election Of Board Members | 0 | ElectionOfBoardMembers |
| Decisions Subject To Approval | 0 | DecisionsSubjectToApproval |
| Minutes Of Governing Body | 1 | MinutesOfGoverningBody |
| Minutes Of Committees | 1 | MinutesOfCommittees |
| Officer Mailing Address | 0 | OfficerMailingAddress |
| Local Chapters | 0 | LocalChapters |
| Form990 Provided To Governing Body | 1 | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | 1 | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | 1 | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | 1 | RegularMonitoringEnforcement |
| Whistleblower Policy | 1 | WhistleblowerPolicy |
| Document Retention Policy | 1 | DocumentRetentionPolicy |
| Compensation Process CEO | 1 | CompensationProcessCEO |
| Compensation Process Other | 1 | CompensationProcessOther |
| Investment In Joint Venture | 0 | InvestmentInJointVenture |
| States Where Copy Of Return Is Filed | CT | StatesWhereCopyOfReturnIsFiled |
| States Where Copy Of Return Is Filed | DE | StatesWhereCopyOfReturnIsFiled |
| States Where Copy Of Return Is Filed | DC | StatesWhereCopyOfReturnIsFiled |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
Name Business NameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | PETER SPENCER | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Telephone Number | 2038470700 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 401 MERRITT 7 PO BOX 5116 | AddressLine1 |
| City | NORWALK | City |
| State | CT | State |
| ZIP Code | 06856 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part VII | X | InfoInScheduleOPartVII |
Form990 Part VII Section A Form990PartVIISectionA (28 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | OfficerOfficer | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation | Key EmployeeKeyEmployee | Highest Compensated EmployeeHighestCompensatedEmployee | FormerFormer |
|---|---|---|---|---|---|---|---|---|---|
| JOHN J BRENNAN | |||||||||
| TRUSTEE, CHAIRMAN | 20.00 | X | X | 240000 | 0 | 0 | |||
| ROBERT T BLAKELY | |||||||||
| TRUSTEE, VICE CHAIRMAN | 5.00 | X | X | 55000 | 0 | 0 | |||
| JEFFREY J DIERMEIER | |||||||||
| TRUSTEE | 5.00 | X | 55000 | 0 | 0 | ||||
| CYNTHIA P EISENHAUER | |||||||||
| TRUSTEE | 5.00 | X | 45000 | 0 | 0 | ||||
| EDWARD M HARRINGTON | |||||||||
| TRUSTEE | 5.00 | X | 45000 | 0 | 0 | ||||
| DENNIS M KASS | |||||||||
| TRUSTEE | 5.00 | X | 55000 | 0 | 0 | ||||
| JOHN J PERRELL | |||||||||
| TRUSTEE | 5.00 | X | 55000 | 0 | 0 | ||||
| JOHN J RADFORD | |||||||||
| TRUSTEE | 5.00 | X | 55000 | 0 | 0 | ||||
| LUIS M VICEIRA | |||||||||
| TRUSTEE | 5.00 | X | 45000 | 0 | 0 | ||||
| EDWARD E NUSBAUM | |||||||||
| TRUSTEE | 5.00 | X | 0 | 0 | 0 | ||||
| FRANK H BROD | |||||||||
| TRUSTEE, TREASURER | 5.00 | X | X | 45000 | 0 | 0 | |||
| DOUGLAS A DONAHUE JR | |||||||||
| TRUSTEE | 5.00 | X | 39375 | 0 | 0 | ||||
| JOHN DAVIDSON | |||||||||
| TRUSTEE | 5.00 | X | 45000 | 0 | 0 | ||||
| MARY S STONE | |||||||||
| TRUSTEE | 5.00 | X | 45000 | 0 | 0 | ||||
| MACK LAWHON | |||||||||
| TRUSTEE | 5.00 | X | 45000 | 0 | 0 | ||||
| ELLYN L BROWN | |||||||||
| TRUSTEE | 5.00 | X | 45000 | 0 | 0 | ||||
| STEPHEN R HOWE JR | |||||||||
| TRUSTEE | 5.00 | X | 0 | 0 | 0 | ||||
| TERESA S POLLEY | |||||||||
| PRESIDENT | 40.00 | X | 560347 | 0 | 53869 | ||||
| RONALD P GUERRETTE | |||||||||
| VICE PRESIDENT | 40.00 | X | 332576 | 0 | 68122 | ||||
| JODI P DOTTORI | |||||||||
| VICE PRESIDENT AND GENERAL | 40.00 | X | 256206 | 0 | 79626 | ||||
| ROBERT H ATTMORE | |||||||||
| CHAIRMAN, GASB | 40.00 | 440773 | 0 | 71860 | X | ||||
| LESLIE F SEIDMAN | |||||||||
| CHAIRMAN, FASB | 40.00 | 953403 | 0 | 72760 | X | ||||
| LAWRENCE W SMITH | |||||||||
| BOARD MEMBER | 40.00 | 827759 | 0 | 100020 | X | ||||
| MARC A SEIGEL | |||||||||
| BOARD MEMBER | 40.00 | 702182 | 0 | 52563 | X | ||||
| THOMAS J LINSMEIER | |||||||||
| BOARD MEMBER | 40.00 | 890560 | 0 | 93609 | X | ||||
| RUSSELL G GOLDEN | |||||||||
| BOARD MEMBER | 40.00 | 720213 | 0 | 67150 | X | ||||
| DARYL E BUCK | |||||||||
| BOARD MEMBER | 40.00 | 635262 | 0 | 52222 | X | ||||
| ROBERT H HERZ | |||||||||
| FORMER CHAIRMAN, FASB | 0.00 | 651627 | 0 | 0 | X | ||||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 7885283 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 0 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 711801 | TotalOtherCompensation |
| Number Individuals GT100 K | 12 | NumberIndividualsGT100K |
| Formers Listed | 1 | FormersListed |
| Total Comp GT150 K | 1 | TotalCompGT150K |
| Compensation From Other Sources | 0 | CompensationFromOtherSources |
Contractor Compensation ContractorCompensation (5 entries)
| Address Line1AddressOfContractor/AddressUS/AddressLine1 | CityAddressOfContractor/AddressUS/City | StateAddressOfContractor/AddressUS/State | ZIP CodeAddressOfContractor/AddressUS/ZIPCode | Description Of ServicesDescriptionOfServices | CompensationCompensation |
|---|---|---|---|---|---|
| OVITAS INC | |||||
| 111 SOUTH BEDFORD ST | BURLINGTON | MA | 01803 | IT AND SOFTWARE CONSULTING | 1260908 |
| ADVANCED COMPUTER TECHNOLOGIES | |||||
| 108 MAIN STREET | NORWALK | CT | 06851 | IT OUTSOURCING | 598052 |
| K & L GATES | |||||
| 1601 K STREET NW | WASHINGTON | DC | 20006 | CONSULTANT EXTERNAL RELATIONS | 453468 |
| CONNECTRIA CORPORATION | |||||
| 10845 OLIVE BLVD | CREVE COUER | MO | 63141 | HOSTING SERVICES | 344311 |
| HAMILTON PRINTING COMPANY | |||||
| 22 HAMILTON WAY | CASTLETON | NY | 12033 | PRINTING SERVICES | 310173 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 14 | NumberOfContractorsGT100K |
| All Other Contributions | 1175115 | AllOtherContributions |
| Total Contributions | 1175115 | TotalContributions |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 1135236 | TotalRevenueColumn |
| Exclusion | $1,135,236 | ExclusionAmount |
Royalties Revenue RoyaltiesRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 11665 | TotalRevenueColumn |
| Exclusion | $11,665 | ExclusionAmount |
Gross Amount Sales Assets GrossAmountSalesAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 29 | Securities |
Gain Or Loss GainOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 29 | Securities |
Net Gain Or Loss Investments NetGainOrLossInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 29 | TotalRevenueColumn |
| Exclusion | $29 | ExclusionAmount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Sales Of Inventory | 4748549 | GrossSalesOfInventory |
| Cost Of Goods Sold | 4167616 | CostOfGoodsSold |
Net Income Or Loss NetIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 580933 | TotalRevenueColumn |
| Related Or Exempt Function Income | 580933 | RelatedOrExemptFunctionIncome |
Other Revenue Misc OtherRevenueMisc (3 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome |
|---|---|---|---|
| ACCOUNTING SUPPORT FEE | 900099 | 29960689 | 29960689 |
| LICENSE FEE REVENUES | 900099 | 13365605 | 13365605 |
| OTHER REVENUE | 900099 | 65151 | 65151 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Revenue | 43391445 | TotalOtherRevenue |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 46294423 | TotalRevenueColumn |
| Related Or Exempt Function Income | 43972378 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 0 | UnrelatedBusinessRevenue |
| Exclusion | $1,146,930 | ExclusionAmount |
Foreign Grants ForeignGrants
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 500000 | Total |
| Program Services | 500000 | ProgramServices |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 3803445 | Total |
| Program Services | 1540152 | ProgramServices |
| Management And General | 2263293 | ManagementAndGeneral |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 23046020 | Total |
| Program Services | 21127119 | ProgramServices |
| Management And General | 1918901 | ManagementAndGeneral |
Pension Plan Contributions PensionPlanContributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 3171676 | Total |
| Program Services | 2841520 | ProgramServices |
| Management And General | 330156 | ManagementAndGeneral |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2539025 | Total |
| Program Services | 2094237 | ProgramServices |
| Management And General | 444788 | ManagementAndGeneral |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1065141 | Total |
| Program Services | 925837 | ProgramServices |
| Management And General | 139304 | ManagementAndGeneral |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 252913 | Total |
| Management And General | 252913 | ManagementAndGeneral |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 159481 | Total |
| Management And General | 159481 | ManagementAndGeneral |
Fees For Services Lobbying FeesForServicesLobbying
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 420864 | Total |
| Program Services | 420864 | ProgramServices |
Fees For Services Invst Mgmnt Fees FeesForServicesInvstMgmntFees
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 988 | Total |
| Management And General | 988 | ManagementAndGeneral |
Fees For Services Other FeesForServicesOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1689807 | Total |
| Program Services | 1157205 | ProgramServices |
| Management And General | 532602 | ManagementAndGeneral |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 391314 | Total |
| Program Services | 88344 | ProgramServices |
| Management And General | 302937 | ManagementAndGeneral |
| Fundraising | 33 | Fundraising |
Information Technology InformationTechnology
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 762934 | Total |
| Program Services | 332325 | ProgramServices |
| Management And General | 430609 | ManagementAndGeneral |
Occupancy Occupancy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1572578 | Total |
| Program Services | 1019956 | ProgramServices |
| Management And General | 552622 | ManagementAndGeneral |
Travel Travel
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1157016 | Total |
| Program Services | 1097175 | ProgramServices |
| Management And General | 59841 | ManagementAndGeneral |
Conferences Meetings ConferencesMeetings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 740528 | Total |
| Program Services | 547769 | ProgramServices |
| Management And General | 192759 | ManagementAndGeneral |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1288964 | Total |
| Program Services | 1050680 | ProgramServices |
| Management And General | 238284 | ManagementAndGeneral |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 179377 | Total |
| Management And General | 179377 | ManagementAndGeneral |
Other Expenses OtherExpenses (4 entries)
| DescriptionDescription | TotalTotal | Program ServicesProgramServices | Management And GeneralManagementAndGeneral |
|---|---|---|---|
| PLACEMENT & RECRUITING | 278671 | 149420 | 129251 |
| SUBSCRIPTION & LIBRARY | 273146 | 263455 | 9691 |
| BILLING AND COLLECTION | 209400 | 209400 | |
| ANNUAL REPORT | 97200 | 69984 | 27216 |
All Other Expenses AllOtherExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 275253 | Total |
| Program Services | 65699 | ProgramServices |
| Management And General | 199337 | ManagementAndGeneral |
| Fundraising | 10217 | Fundraising |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 43875741 | Total |
| Program Services | 35501141 | ProgramServices |
| Management And General | 8364350 | ManagementAndGeneral |
| Fundraising | 10250 | Fundraising |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 4237342 | BOY |
| EOY | 4205031 | EOY |
Savings And Temp Cash Investments SavingsAndTempCashInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 8157688 | BOY |
| EOY | 8565042 | EOY |
Pledges And Grants Receivable PledgesAndGrantsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 25000 | BOY |
| EOY | 25000 | EOY |
Accounts Receivable AccountsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 3174545 | BOY |
| EOY | 2780709 | EOY |
Inventories For Sale Or Use InventoriesForSaleOrUse
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 96468 | BOY |
| EOY | 104340 | EOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 357575 | BOY |
| EOY | 291207 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 15405665 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 13697554 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 2575698 | BOY |
| EOY | 1708111 | EOY |
Investments Pub Traded Securities InvestmentsPubTradedSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 63215080 | BOY |
| EOY | 63177722 | EOY |
Investments Other Securities InvestmentsOtherSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 818394 | BOY |
| EOY | 819359 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | 664941 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 82657790 | BOY |
| EOY | 82341462 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 2313348 | BOY |
| EOY | 1501586 | EOY |
Deferred Revenue DeferredRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 6678094 | BOY |
| EOY | 6624733 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 5377900 | BOY |
| EOY | 6229293 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 14369342 | BOY |
| EOY | 14355612 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Follow SFAS117 | X | FollowSFAS117 |
Unrestricted Net Assets UnrestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 68288448 | BOY |
| EOY | 67985850 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 68288448 | BOY |
| EOY | 67985850 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 82657790 | BOY |
| EOY | 82341462 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | X | InfoInScheduleOPartXI |
| Reconcilation Revenue Expenses | 2418682 | ReconcilationRevenueExpenses |
| Reconcilation Other Changes | -2721280 | ReconcilationOtherChanges |
| Info In Schedule O Part XII | X | InfoInScheduleOPartXII |
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | 0 | AccountantCompileOrReview |
| FS Audited | 1 | FSAudited |
| Audit Committee | 1 | AuditCommittee |
| Financial Statement Separate | X | FinancialStatementSeparate |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequired |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Publicly Supported Org170b1 Avi | X | PubliclySupportedOrg170b1Avi |
Gifts Grants Contrib Received170 GiftsGrantsContribReceived170
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 24150378 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 25200793 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 30079783 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 35286613 | CurrentTaxYearMinus1Year |
| Current Tax Year | 31225803 | CurrentTaxYear |
| Total | 145943370 | Total |
Total170 Total170
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 24150378 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 25200793 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 30079783 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 35286613 | CurrentTaxYearMinus1Year |
| Current Tax Year | 31225803 | CurrentTaxYear |
| Total | 145943370 | Total |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Support Total170 | 145943370 | PublicSupportTotal170 |
Gross Investment Income170 GrossInvestmentIncome170
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 3179420 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 2257605 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 1448199 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 1286945 | CurrentTaxYearMinus1Year |
| Current Tax Year | 1212046 | CurrentTaxYear |
| Total | 9384215 | Total |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Support | 155327585 | TotalSupport |
| Gross Receipts From Admissions Etc | 83882444 | GrossReceiptsFromAdmissionsEtc |
| Public Support Pertcentage170 | 0.93960 | PublicSupportPertcentage170 |
| Public Support Pertcent Prior Year | 0.93300 | PublicSupportPertcentPriorYear |
| Thirty Three Percnt Tests CY170 | X | ThirtyThreePercntTestsCY170 |
Schedule B IRS990ScheduleB
Contributor Info ContributorInfo
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor Number | RESTRICTED | ContributorNumber |
Contributor Name Business ContributorNameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor Address US ContributorAddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Aggregate Contributions | RESTRICTED | AggregateContributions |
Schedule C IRS990ScheduleC
Total Direct Lobbying TotalDirectLobbying
| Field | Value | IRS element (for citing) |
|---|---|---|
| Filing Organizations Totals | 620000 | FilingOrganizationsTotals |
Total Lobbying Expenditures TotalLobbyingExpenditures
| Field | Value | IRS element (for citing) |
|---|---|---|
| Filing Organizations Totals | 620000 | FilingOrganizationsTotals |
Other Exempt Purpose Expenditures OtherExemptPurposeExpenditures
| Field | Value | IRS element (for citing) |
|---|---|---|
| Filing Organizations Totals | 43255741 | FilingOrganizationsTotals |
Total Exempt Purpose Expenditures TotalExemptPurposeExpenditures
| Field | Value | IRS element (for citing) |
|---|---|---|
| Filing Organizations Totals | 43875741 | FilingOrganizationsTotals |
Lobbying Nontaxable LobbyingNontaxableAmount
| Field | Value | IRS element (for citing) |
|---|---|---|
| Filing Organizations Totals | 1000000 | FilingOrganizationsTotals |
Grassroots Nontaxable GrassrootsNontaxableAmount
| Field | Value | IRS element (for citing) |
|---|---|---|
| Filing Organizations Totals | 250000 | FilingOrganizationsTotals |
Tot Lobbying Grassroot Minus Non Tx TotLobbyingGrassrootMinusNonTx
| Field | Value | IRS element (for citing) |
|---|---|---|
| Filing Organizations Totals | 0 | FilingOrganizationsTotals |
Tot Lobby Expend Mns Lobbying Nontx TotLobbyExpendMnsLobbyingNontx
| Field | Value | IRS element (for citing) |
|---|---|---|
| Filing Organizations Totals | 0 | FilingOrganizationsTotals |
Lobbying Nontaxable Amount2 LobbyingNontaxableAmount2
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Year Minus3 | 1000000 | CurrentYearMinus3 |
| Current Year Minus2 | 1000000 | CurrentYearMinus2 |
| Current Year Minus1 | 1000000 | CurrentYearMinus1 |
| Current Year | 1000000 | CurrentYear |
| Total | 4000000 | Total |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Lobbying Ceiling | $6,000,000 | LobbyingCeilingAmount |
Total Lobbying Expenditures2 TotalLobbyingExpenditures2
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Year Minus3 | 130189 | CurrentYearMinus3 |
| Current Year Minus2 | 510000 | CurrentYearMinus2 |
| Current Year Minus1 | 640000 | CurrentYearMinus1 |
| Current Year | 620000 | CurrentYear |
| Total | 1900189 | Total |
Grassroots Nontaxable Amount2 GrassrootsNontaxableAmount2
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Year Minus3 | 250000 | CurrentYearMinus3 |
| Current Year Minus2 | 250000 | CurrentYearMinus2 |
| Current Year Minus1 | 250000 | CurrentYearMinus1 |
| Current Year | 250000 | CurrentYear |
| Total | 1000000 | Total |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grassroots Ceiling | $1,500,000 | GrassrootsCeilingAmount |
Form990 Schedule C Part IV Form990ScheduleCPartIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | PART IV, SUPPLEMENTAL INFORMATION: | Identifier |
| Explanation | EXPENSES PAID TO CONSULTANTS RELATED TO EDUCATING AND INFORMING LAWMAKERS ABOUT THE ACCOUNTING STANDARD SETTING PROCESS AND SPECIFICALLY POTENTIAL LEGISLATION RELATING TO THE OVERSIGHT AND/OR TECHNICAL ACTIVITIES OF THE FASB AND THE GASB INCLUDING THE FOLLOWING: * PUBLIC EMPLOYEE PENSION TRANSPARENCY ACT (H.R. 567 AND S. 347) * SPENDING REDUCTION ACT OF 2011 (H.R. 408) * GSE PORTFOLIO RISK REDUCTION ACT OF 2011 (H.R. 1224) * NATIONAL ACTIVITY BASED TOTAL ACCOUNTABILITY ACT OF 2011 (H.R. 1376) * COMMUNITIES FIRST ACT (H.R. 1697 AND S. 1600) * REOPENING AMERICAN CAPITAL MARKETS TO EMERGING GROWTH COMPANIES ACT (H.R. 3606 AND S. 1933) | Explanation |
Schedule D IRS990ScheduleD
Leasehold Improvements LeaseholdImprovements
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 3662024 | OtherCostOrOtherBasis |
| Depreciation | 3556976 | Depreciation |
| Book Value | 105048 | BookValue |
Equipment Equipment
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 11743641 | OtherCostOrOtherBasis |
| Depreciation | 10140578 | Depreciation |
| Book Value | 1603063 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 1708111 | TotalOfBookValueLandBuildings |
Other Liabilities OtherLiabilities (4 entries)
| DescriptionDescription | AmountAmount |
|---|---|
| ACCRUED PAYROLL AND RELATED BENEFITS | $932,555 |
| ACCRUED RENT EXPENSE | $435,252 |
| ACCRUED PENSION COSTS | $1,769,642 |
| ACCRUED POSTRETIREMENT HEALTH CARE COSTS | $3,091,844 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 6229293 | TotalOfAmounts |
| Total Revenue | 46294423 | TotalRevenue |
| Total Expenses | 43875741 | TotalExpenses |
| Excess Or Deficit For Year | 2418682 | ExcessOrDeficitForYear |
| Net Unrealized GL On Investments | -435451 | NetUnrealizedGLOnInvestments |
| Other | -$2,285,829 | OtherAmount |
| Total Adjustments | -2721280 | TotalAdjustments |
| Excess Or Deficit Per FS | -302598 | ExcessOrDeficitPerFS |
| Tot Revenue Etc Audited Fincl Stmt | 45947984 | TotRevenueEtcAuditedFinclStmt |
| Net Unrealized Gains Investments | -435451 | NetUnrealizedGainsInvestments |
| Donated Srvc And Use Of Facilities | 90000 | DonatedSrvcAndUseOfFacilities |
| Revenue Not Rptd F990 | -345451 | RevenueNotRptdF990 |
| Revenue Subtotal | 46293435 | RevenueSubtotal |
| Investment Expenses Not Included | 988 | InvestmentExpensesNotIncluded |
| Revenue Not Rptd On Fin Stmt | 988 | RevenueNotRptdOnFinStmt |
| Total Revenue Per Form990 | 46294423 | TotalRevenuePerForm990 |
| Tot Expenses Etc Audited Fincl Stmt | 43964753 | TotExpensesEtcAuditedFinclStmt |
| Donated Services Use Of Facilities | 90000 | DonatedServicesUseOfFacilities |
| Expenses Not Rptd F990 | 90000 | ExpensesNotRptdF990 |
| Expenses Subtotal | 43874753 | ExpensesSubtotal |
| Investment Expenses Not Included2 | 988 | InvestmentExpensesNotIncluded2 |
| Expenses Not Rptd On Fin Stmt | 988 | ExpensesNotRptdOnFinStmt |
| Total Expenses Per Form990 | 43875741 | TotalExpensesPerForm990 |
Form990 Schedule D Part XIV Form990ScheduleDPartXIV (2 entries)
| IdentifierIdentifier | ExplanationExplanation |
|---|---|
| PART XI, LINE 8 - OTHER ADJUSTMENTS: | PENSION RELATED CHANGES-AMOUNTS REFLECTED AS OTHER CHANGE IN NET ASSETS -2,285,829. |
| FORM 990, PART IV, LINE 11F TAX POSITION FOOTNOTE IN AUDITED FINANCIAL STATEMENTS: THE FOUNDATION IS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. TAX POSITIONS FOR OPEN TAX YEARS WERE REVIEWED AND IT WAS DETERMINED THAT NO PROVISION FOR UNCERTAIN TAX POSITIONS IS REQUIRED. THE FOUNDATION IS CURRENTLY OPEN TO AUDIT UNDER THE STATUTE OF LIMITATIONS BY THE INTERNAL REVENUE SERVICE AND STATE TAXING AUTHORITIES FOR THE YEARS ENDING DECEMBER 31, 2008 THROUGH 2010. |
Schedule F IRS990ScheduleF
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | 1 | GrantRecordsMaintained |
Accts Actvs Out US Table AcctsActvsOutUSTable (3 entries)
| RegionRegion | Number Of OfficesNumberOfOffices | Number Of EmployeesNumberOfEmployees | Type Of Activities ConductedTypeOfActivitiesConducted | Total ExpendituresTotalExpenditures | Specific Services ProvidedSpecificServicesProvided |
|---|---|---|---|---|---|
| EUROPE (INCLUDING ICELAND & GREENLAND) - | 0 | 0 | GRANTMAKING | 500000 | |
| EUROPE (INCLUDING ICELAND & GREENLAND) - | 0 | 0 | PROGRAM SERVICES | 711993 | ATTEND MEETINGS AND ROUNDTABLES WITH INTERNATIONAL ACCOUNTING STANDARDS BOARD ON ISSUES RELATED TO INTERNATIONAL CONVERGENCE OF ACCOUNTING STANDARDS |
| EAST ASIA AND THE PACIFIC - | 0 | 0 | PROGRAM SERVICES | 26710 | ATTEND MEETINGS WITH STANDARD SETTERS AND OTHERS ON ISSUES RELATED TO INTERNATIONAL CONVERGENCE OF ACCOUNTING STANDARDS |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Subtotal Number Of Offices | 0 | SubtotalNumberOfOffices |
| Subtotal Number Of Employees | 0 | SubtotalNumberOfEmployees |
| Cont Number Of Offices | 0 | ContNumberOfOffices |
| Cont Number Of Employees | 0 | ContNumberOfEmployees |
| Total Number Of Offices | 0 | TotalNumberOfOffices |
| Total Number Of Employees | 0 | TotalNumberOfEmployees |
| Subtotal Amount Spent | 1238703 | SubtotalAmountSpent |
| Cont Amount Spent | 0 | ContAmountSpent |
| Total Amount Spent | 1238703 | TotalAmountSpent |
Grants To Orgs Outside US GrantsToOrgsOutsideUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Region | EUROPE (INCLUDING ICELAND & GREENLAND) | Region |
| Purpose Of Grant | CONTRIBUTION FOR GENERAL SUPPORT | PurposeOfGrant |
| Amount Of Cash Grant | 500000 | AmountOfCashGrant |
| Manner Of Cash Disbursement | WIRE TRANSFER | MannerOfCashDisbursement |
| Amount Of Non Cash Assistance | 0 | AmountOfNonCashAssistance |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Number Of501c3 Orgs | 1 | TotalNumberOf501c3Orgs |
| Total Number Of Other Orgs | 0 | TotalNumberOfOtherOrgs |
| Transfer To Foreign Corp | 0 | TransferToForeignCorp |
| Interest In Foreign Trust | 0 | InterestInForeignTrust |
| Own Foreign Corp | 0 | OwnForeignCorp |
| Passive Foreign Invest Co | 0 | PassiveForeignInvestCo |
| Foreign Partnership | 0 | ForeignPartnership |
| Boycott Countries | 0 | BoycottCountries |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| First Class Or Charter Travel | X | FirstClassOrCharterTravel |
| Idemnification Gross Up Payments | X | IdemnificationGrossUpPayments |
| Club Dues Or Fees | X | ClubDuesOrFees |
| Written Policy Re T And E Expenses | 1 | WrittenPolicyReTAndEExpenses |
| Substantiation Required | 1 | SubstantiationRequired |
| Compensation Committee | X | CompensationCommittee |
| Independent Consultant | X | IndependentConsultant |
| Form990 Of Other Organizations | X | Form990OfOtherOrganizations |
| Compensation Survey | X | CompensationSurvey |
| Board Or Committee Approval | X | BoardOrCommitteeApproval |
| Severance Payment | 1 | SeverancePayment |
| Supplemental Nonqual Retire Plan | 1 | SupplementalNonqualRetirePlan |
| Equity Based Comp Arrangement | 0 | EquityBasedCompArrangement |
| Comp Based On Revenue Of Filing Org | 0 | CompBasedOnRevenueOfFilingOrg |
| Comp Based On Revenue Related Orgs | 0 | CompBasedOnRevenueRelatedOrgs |
| Comp Based Net Earnings Filing Org | 0 | CompBasedNetEarningsFilingOrg |
| Comp Based Net Earnings Relate Orgs | 0 | CompBasedNetEarningsRelateOrgs |
| Any Non Fixed Payments | 0 | AnyNonFixedPayments |
| Initial Contract Exception | 0 | InitialContractException |
Form990 Schedule J Part II Form990ScheduleJPartII (12 entries)
| Base Compensation Filing OrgBaseCompensationFilingOrg | Comp Based On Related OrgsCompBasedOnRelatedOrgs | Bonus Filing OrgBonusFilingOrg | Bonus Related OrgsBonusRelatedOrgs | Other Compensation Filing OrgOtherCompensationFilingOrg | Other Compensation Related OrgsOtherCompensationRelatedOrgs | Deferred Comp Filing OrgDeferredCompFilingOrg | Deferred Comp Related OrgsDeferredCompRelatedOrgs | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrg | Nontaxable Benefits Related OrgsNontaxableBenefitsRelatedOrgs | Total Compensation Filing OrgTotalCompensationFilingOrg | Total Compensation Related OrgsTotalCompensationRelatedOrgs | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrg | Comp Report Prior990 Related OrgsCompReportPrior990RelatedOrgs |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| JOHN J BRENNAN | |||||||||||||
| 240000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 240000 | 0 | 0 | 0 |
| TERESA S POLLEY | |||||||||||||
| 433800 | 0 | 25000 | 0 | 101547 | 0 | 48976 | 0 | 4893 | 0 | 614216 | 0 | 0 | 0 |
| RONALD P GUERRETTE | |||||||||||||
| 289677 | 0 | 0 | 0 | 42899 | 0 | 46652 | 0 | 21470 | 0 | 400698 | 0 | 0 | 0 |
| JODI P DOTTORI | |||||||||||||
| 245004 | 0 | 8000 | 0 | 3202 | 0 | 46652 | 0 | 32974 | 0 | 335832 | 0 | 0 | 0 |
| ROBERT H ATTMORE | |||||||||||||
| 377396 | 0 | 0 | 0 | 63377 | 0 | 68239 | 0 | 4977 | 0 | 513989 | 0 | 0 | 0 |
| LESLIE F SEIDMAN | |||||||||||||
| 775616 | 0 | 0 | 0 | 177787 | 0 | 42169 | 0 | 30591 | 0 | 1026163 | 0 | 0 | 0 |
| LAWRENCE W SMITH | |||||||||||||
| 629548 | 0 | 0 | 0 | 198211 | 0 | 73218 | 0 | 30861 | 0 | 931838 | 0 | 0 | 0 |
| MARC A SEIGEL | |||||||||||||
| 629476 | 0 | 0 | 0 | 72706 | 0 | 25693 | 0 | 26870 | 0 | 754745 | 0 | 0 | 0 |
| THOMAS J LINSMEIER | |||||||||||||
| 627418 | 0 | 0 | 0 | 263142 | 0 | 60902 | 0 | 32707 | 0 | 984169 | 0 | 0 | 0 |
| RUSSELL G GOLDEN | |||||||||||||
| 629599 | 0 | 0 | 0 | 90614 | 0 | 36624 | 0 | 30526 | 0 | 787363 | 0 | 0 | 0 |
| DARYL E BUCK | |||||||||||||
| 526307 | 0 | 0 | 0 | 108955 | 0 | 25548 | 0 | 26674 | 0 | 687484 | 0 | 0 | 0 |
| ROBERT H HERZ | |||||||||||||
| 0 | 0 | 0 | 0 | 651627 | 0 | 0 | 0 | 0 | 0 | 651627 | 0 | 0 | 0 |
Form990 Schedule J Part III Form990ScheduleJPartIII (2 entries)
| Return ReferenceReturnReference | ExplanationExplanation |
|---|---|
| PART I, LINE 1A | FIRST CLASS TRAVEL IS ALLOWED PER POLICY ONLY UNDER CERTAIN CIRCUMSTANCES. PRIOR TO JUNE 2011, FOR DOMESTIC TRAVEL CROSSING MORE THAN TWO TIME ZONES BOARD MEMBERS, TRUSTEES AND THE PRESIDENT WERE ABLE TO ELECT BUSINESS CLASS (OR THE NEXT AVAILABLE CLASS OF SERVICE ABOVE COACH IF BUSINESS WAS NOT PROVIDED), WHICH MAY BE FIRST CLASS. THE POLICY WAS REVISED IN JUNE 2011 TO REQUIRE ALL EMPLOYEES AND TRUSTEES FLY COACH ON DOMESTIC FLIGHTS, WITH THE ONLY EXCEPTION BEING FOR TRUSTEES WHOSE TERM BEGAN BEFORE THE REVISION OF THE POLICY AND CURRENTLY LIVE MORE THAN TWO TIME ZONES FROM FAF OFFICES. OTHER EMPLOYEES MUST OBTAIN APPROVAL FOR SUCH TRAVEL. FOR INTERNATIONAL TRAVEL OUTSIDE NORTH AMERICA GREATER THAN SIX HOURS, ALL INDIVIDUALS MAY ELECT BUSINESS CLASS (OR THE NEXT HIGHEST CLASS OF SERVICE ABOVE COACH, IF UNAVAILABLE), WHICH MAY BE FIRST CLASS. REIMBURSEMENT FOR FIRST CLASS TRAVEL WAS NOT INCLUDED AS COMPENSATION. GROSS-UP PAYMENTS ARE PROVIDED RELATIVE TO CERTAIN RETIREMENT PLAN PAYMENTS. SUCH PAYMENTS ARE TREATED AS TAXABLE COMPENSATION. ALL EMPLOYEES ARE ELIGIBLE FOR REIMBURSEMENT FOR A PORTION OF HEALTH CLUB DUES AT SELECTED FACILITIES, WHICH ARE INCLUDED AS COMPENSATION. |
| PART I, LINES 4A-B | MONTHLY PAYMENTS TOTALING $651,627 WERE MADE TO ROBERT HERZ, FORMER FASB CHAIRMAN, IN CONNECTION WITH THE TWELVE MONTH AGREEMENT ENTERED INTO IN CONNECTION WITH HIS DEPARTURE FROM THE FAF. THE FOLLOWING COVERED INDIVIDUALS PARTICIPATED IN THE FOUNDATION'S NON-QUALIFIED RETIREMENT BENEFIT PLAN/PROGRAMS IN 2011 AND RECEIVED AND/OR WERE DEEMED TO HAVE RECEIVED THE FOLLOWING AMOUNTS: TERESA POLLEY - $98,044 RONALD GUERRETTE- $37,754 LAWRENCE SMITH- $191,649 LESLIE SEIDMAN- $174,416 THOMAS LINSMEIER- $257,516 ROBERT ATTMORE- $51,375 RUSSELL GOLDEN- $88,354 MARC SEIGEL- $70,326 DARYL BUCK- $52,832 JODI DOTTORI- $1,596 AMOUNTS REPRESENT BENEFITS RECEIVED AND/OR WERE DEEMED TO HAVE RECEIVED UNDER SUPPLEMENTAL PLANS THAT ARE SUBSTANTIALLY EQUIVALENT TO THE BENEFITS PROVIDED UNDER FAF'S QUALIFIED RETIREMENT PLANS ON COMPENSATION IN EXCESS OF THE INTERNAL REVENUE CODE COMPENSATION LIMIT. |
Schedule L IRS990ScheduleL
Form990 Schedule L Part IV Form990ScheduleLPartIV (2 entries)
| RelationshipRelationship | Amount Of TransactionAmountOfTransaction | Description Of TransactionDescriptionOfTransaction | Sharing Of RevenuesSharingOfRevenues |
|---|---|---|---|
| ERNST YOUNG | |||
| STEPHEN HOWE IS AMERICAS MANAGING PARTNER-ERNST & YOUNG,LLP/TRUSTEE OF FAF | 2079684 | THERE ARE SEVERAL TRANSACTIONS BETWEEN ERNST & YOUNG AND THE FOUNDATION. THE FOUNDATION LICENSES SUBSCRIPTION SERVICES TO ITS AUTHORITATIVE LITERATURE TO ERNST & YOUNG FOR ITS INTERNAL USE AS WELL AS SUBLICENSING AND ARE SUBSTANTIALLY SIMILAR TO THOSE FEES CHARGED TO SIMILARLY SIZED LICENSEES. IN ADDITION, ERNST & YOUNG PURCHASES HARDCOPY PUBLICATIONS AND SUBSCRIPTIONS OF THE AUTHORITATIVE LITERATURE. THESE TRANSACTIONS ARE AT ARMS-LENGTH, AND BASED UPON THE FOUNDATION'S STATUS AS THE AUTHORITATIVE STANDARD SETTER FOR ACCOUNTING, ARE A NECESSITY. IN ADDITION, SEVERAL MEMBERS OF ERNST & YOUNG PARTICIPATED IN THE FAF'S FELLOWSHIP PROGRAM. THESE INDIVIDUALS WORK AT THE FASB & GASB FOR PERIODS RANGING FROM 18-24 MONTHS, AND FAF REIMBURSES ERNST & YOUNG AN AGREED UPON FEE FOR THEIR SERVICES. STEPHEN HOWE HAS NO DIRECT INVOLVEMENT IN NEGOTIATING THE TERMS OR AMOUNTS IN THE AGREEMENTS AND RECEIVES NO BENEFIT FROM THE TRANSACTIONS. | 0 |
| GRANT THORNTON LLP | |||
| EDWARD NUSBAUM IS CEO OF GRANT THORNTON/TRUSTEE OF FAF | 251540 | THERE ARE SEVERAL TRANSACTIONS BETWEEN GRANT THORNTON AND THE FOUNDATION. GRANT THORNTON PURCHASES HARDCOPY PUBLICATIONS AND SUBSCRIPTIONS OF THE AUTHORITATIVE LITERATURE. THESE TRANSACTIONS ARE AT ARMS-LENGTH, AND BASED UPON THE FOUNDATION'S STATUS AS THE AUTHORITATIVE STANDARD SETTER FOR ACCOUNTING, ARE A NECESSITY. IN ADDITION, SEVERAL MEMBERS OF GRANT THORNTON PARTICIPATED IN THE FAF'S FELLOWSHIP PROGRAM. THESE INDIVIDUALS WORK AT THE FASB & GASB FOR PERIODS RANGING FROM 18-24 MONTHS, AND FAF REIMBURSES GRANT THORNTON AN AGREED UPON FEE FOR THEIR SERVICES. EDWARD NUSBAUM HAS NO DIRECT INVOLVEMENT IN NEGOTIATING THE TERMS OR AMOUNTS IN THE AGREEMENTS AND RECEIVES NO BENEFIT FROM THE TRANSACTIONS. | 0 |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (7 entries)
| Return ReferenceReturnReference | ExplanationExplanation | IdentifierIdentifier |
|---|---|---|
| FORM 990, PART VI, SECTION B, LINE 11 | THE AUDIT AND COMPLIANCE COMMITTEE OF THE BOARD OF TRUSTEES REVIEWS AND APPROVES THE FORM 990 PRIOR TO IT BEING FILED. | |
| FORM 990, PART VI, SECTION B, LINE 12C | THE FOUNDATION HAS A WRITTEN CONFLICT OF INTEREST POLICY THAT COVERS THE FASB AND GASB BOARD MEMBERS, THE FAF PRESIDENT, AND ALL OTHER EMPLOYEES OF THE FAF. ON A QUARTERLY BASIS THESE INDIVIDUALS ARE REQUIRED TO REPORT THEIR INTERESTS THAT WOULD POSE A CONFLICT TO THE FOUNDATION. FAILURE TO ADHERE TO THE POLICY CAN INCLUDE TERMINATION. THE FAF ALSO MAINTAINS AN OMBUDS POLICY APPLICABLE TO ALL FAF EMPLOYEES AND THE MEMBERS OF THE FAF BOARD OF TRUSTEES. UNDER THE OMBUDS POLICY, EACH EMPLOYEE AND TRUSTEE HAS AN AFFIRMATIVE DUTY TO REPORT PROMPTLY VIOLATIONS OF LAWS AND UNETHICAL (INCLUDING CONFLICTS OF INTEREST), UNWANTED AND/OR QUESTIONABLE BEHAVIOR. THE OMBUDS POLICY PROVIDES SPECIFIC PROTECTIONS FROM EMPLOYMENT RETALIATION TO INDIVIDUALS WHO, IN GOOD FAITH, REPORT POTENTIAL VIOLATIONS OF THE OMBUDS AND OTHER POLICIES OF THE FAF. THE FAF IS ALSO IN THE PROCESS OF DEVELOPING A STAND-ALONE CODE OF ETHICS/CONFLICTS POLICY THAT WILL BE APPLICABLE TO THE FAF TRUSTEES. | |
| FORM 990, PART VI, SECTION B, LINE 15 | THE FINANCE AND COMPENSATION COMMITTEE OF THE FAF BOARD OF TRUSTEES, WHICH IS COMPRISED OF INDEPENDENT TRUSTEES, HAS THE AUTHORITY TO RECOMMEND ANNUAL COMPENSATION PARAMETERS FOR THE KEY EMPLOYEES, WHICH INCLUDES THE FAF PRESIDENT AND CHIEF EXECUTIVE OFFICER, FASB AND GASB CHAIRS (AS KEY EMPLOYEES), AND CERTAIN OTHER FAF EMPLOYEES, INCLUDING FASB MEMBERS WHO ARE AMONG THE 5 HIGHEST COMPENSATED EMPLOYEES OF THE FAF. THESE RECOMMENDATIONS ARE BASED ON STUDIES CONDUCTED BY INDEPENDENT COMPENSATION CONSULTANTS THAT PERFORM MARKET RESEARCH AND PROVIDE COMPREHENSIVE COMPENSATION COMPARABILITY REPORTS. THE APPOINTMENTS AND EVALUATIONS COMMITTEE OF THE FAF BOARD OF TRUSTEES, WHICH IS COMPRISED OF INDEPENDENT TRUSTEES, IS RESPONSIBLE FOR REVIEWING THE PERFORMANCE OF FASB AND GASB MEMBERS ANNUALLY, AND THE EXECUTIVE COMMITTEE OF THE FAF BOARD OF TRUSTEES, WHICH IS COMPRISED OF INDEPENDENT TRUSTEES, IS RESPONSIBLE FOR REVIEWING THE PERFORMANCE OF THE FAF PRESIDENT AND CHIEF EXECUTIVE OFFICER ANNUALLY. SINCE THE ACTUAL COMPENSATION AMOUNT IS TIED TO PERFORMANCE, THE APPOINTMENTS AND EVALUATIONS COMMITTEE SHALL DETERMINE THE SPECIFIC COMPENSATION RECOMMENDATION FOR THE FASB AND GASB MEMBERS, WHILE THE EXECUTIVE COMMITTEE SHALL DETERMINE THE SPECIFIC COMPENSATION RECOMMENDATION FOR THE FAF PRESIDENT AND CHIEF EXECUTIVE OFFICER. THESE COMPENSATION RECOMMENDATIONS WILL THEN BE PROVIDED TO THE FULL BOARD OF TRUSTEES FOR THEIR APPROVAL. COMPREHENSIVE COMPENSATION STUDIES OF KEY EMPLOYEE COMPENSATION ARE CONDUCTED EVERY THREE YEARS, WITH THE LAST STUDY BEING PERFORMED IN 2011. IN THE INTERVENING YEARS, THE COMPENSATION DATA IS UPDATED BY THE CONSULTANTS BASED ON MARKETPLACE DATA. ADDITIONALLY, DURING 2012, AN INDEPENDENT CONSULTING FIRM PROVIDED WRITTEN OPINIONS AFFIRMING (1) THE FAIRNESS (UNDER THE INTERMEDIATE SANCTIONS RULES PROMULGATED PURSUANT TO THE IRC) OF THE COMPENSATION DETERMINATIONS MADE BY THE BOARD OF TRUSTEES FOR 2011 WITH RESPECT TO KEY EMPLOYEES, AND (2) THE FAIRNESS OF 2011 TRUSTEE COMPENSATION. FOR OTHER FAF EMPLOYEES, SALARY RANGES ARE REVIEWED EVERY THREE YEARS ON THE BASIS OF MARKET COMPENSATION DATA PROVIDED BY INDEPENDENT COMPENSATION CONSULTANTS. DURING THE INTERVENING YEARS, SALARY RANGES ARE ADJUSTED FOR INFLATION. THE MOST RECENT COMPENSATION STUDIES WITH RESPECT TO THESE FAF STAFF POSITIONS WERE PERFORMED IN 2010 FOR IMPLEMENTATION TO COINCIDE WITH THE ANNUAL 2011 SALARY INCREASES. | |
| FORM 990, PART VI, SECTION C, LINE 19 | THE ANNUAL REPORT, WHICH INCLUDES THE FOUNDATION'S AUDITED FINANCIAL STATEMENTS, AND GOVERNING DOCUMENTS ARE LOCATED ON THE FOUNDATION'S WEBSITE. AT THIS TIME, THE FOUNDATION'S CONFLICT OF INTEREST POLICY IS AVAILABLE TO THE PUBLIC UPON REQUEST. | |
| PART VII, COLUMN F | THE ORGANIZATION HAS ELECTED TO DISREGARD THE EXCLUSION UNDER THE $10,000 PER ITEM EXCEPTION FOR THE PART VII REPORTING, AND INCLUDES ALL BENEFIT AMOUNTS IN THE COLUMN F TOTALS. | |
| FORM 990, PART XI, LINE 5: | NET UNREALIZED LOSSES ON INVESTMENTS: -435,451. PENSION RELATED CHANGES-AMOUNTS REFLECTED AS OTHER CHANGE IN NET ASSETS -2,285,829. TOTAL TO FORM 990, PART XI, LINE 5: -2,721,280. | CHANGES IN NET ASSETS OR FUND BALANCES: |
| FORM 990, PART XII, LINE 2C | THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. |
Comments