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Foreign Exchange Professionals Association

Not tax-deductible

Katonah, NY501(c)(6)Since 2014Community Development EIN 47-2026757Revenue $200K in FY2025

On file with the IRSfxpa.orgCo Heckler-200 Katonah Ave Ste 14a, 10536-0000 · Katonah, NYTax-exempt since Nov 2018

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To represent the collective interest of individuals and companies that participate in the institutional Foreign Exchange marketplace and to promote the need for sound, liquid, transparent, and competitive global currency markets to policy makers through education, research and advocacy.

501(c)(6) business league; gifts are not tax-deductible as charitable contributions.
Run by 10 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · People: Part I, lines 5–6

Before you give

FY2025 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(6)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 6
filings with a surplus
Average deficit $68K a year · 26% of revenue · last 6 filings
Concern: a surplus in 1 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Cash reserves
2 mo
of spending, in cash
Fine: 1.5 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$8K
25% of total assets
Looks good: liabilities are 25% of assets; 50% or less.
Pt X · Ln 26
Independent board members
10
of 10 voting members
Looks good: 10 of 10 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$200K
0% vs prior year
Spent
$227K
Net assets
$22K
By yearFY2020–FY2025
Revenue
$200K
FY20250%
Tap a bar for its year
Revenue by fiscal year
FY2020$375K
FY2021$330K
FY2022$245K
FY2023$240K
FY2024$200K
FY2025$200K
Expenses
$227K
FY2025▼ -35%
Tap a bar for its year
Expenses by fiscal year
FY2020$368K
FY2021$352K
FY2022$348K
FY2023$354K
FY2024$351K
FY2025$227K
Net assets
$22K
FY2025▼ -55%
Tap a bar for its year
Net assets by fiscal year
FY2020$438K
FY2021$416K
FY2022$313K
FY2023$199K
FY2024$49K
FY2025$22K

From the FY2025 Form 990 · see the original

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Is it real?

Yes. Exemption reinstated (2017-11-15). Per the IRS revocation list. Latest filing on record: FY2025. IRS ruling in Nov 2018.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

12 people listed on the 990.

Part VII, Section A · reportable compensation
Joseph Hoffman
Chairperson
$0Pt VII · Sec A
Dale Haver
Vice-Chairperson
$0Pt VII · Sec A
Josh Matthews
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Foreign Exchange Professionals Association executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Advocates for sound, liquid, and transparent global currency markets to policymakers.

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1 program · in their own filed words · FY2025
01

Promoting the need for sound, liquid, transparent, and competitive global currency markets to policy makers through education, research and advocacy.

Pt IX · col B

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$200K
Ln 12
Fees for servicesLn 2g$200K
Money outPt IX
$227K
Ln 25
Owns and owesPt X
$22K
net assets · Ln 32
Cash and savingsLn 1–2$28K
Total assetsLn 16$30K
LiabilitiesLn 26$8K
PeoplePt VI, VII
12
listed · VII A
PaidVII A0
Voting boardVI 1a10
IndependentVI 1b10
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$200K
Total revenueLn 12$200K
Assets in detailPt X, end of year
CashLn 1$28K
Cash and savings togetherLn 1–2$28K
Other assetsLn 15$465
Total assetsLn 16$30K
LiabilitiesLn 26$8K
Net assetsLn 32$22K
OperationsPt I, VI
EmployeesI 50
VolunteersI 610
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$68K$28K
Total assetsLn 16$69K$30K
LiabilitiesLn 26$20K$8K
Net assetsLn 32$49K$22K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Legal feesLn 11b$142K
Accounting feesLn 11c$10K
Other fees for servicesLn 11g$71K
Information technologyLn 14$1K
InsuranceLn 23$2K
Other expenses (24a–d)Ln 24$170
Total functional expensesLn 25$227K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $200K$227K−$27K$22K 990 PDF
FY2024 $200K$351K−$151K$49K 990 PDF
FY2023 $240K$354K−$114K$199K 990 PDF
FY2022 $245K$348K−$103K$313K 990 PDF
FY2021 $330K$352K−$22K$416K 990 PDF
FY2020 $375K$368K$7K$438K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2025 990 (6 parts)
Part I · Summary $200,000 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $200,000$200,000
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $200,000$200,000
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $350,563$226,586
I-18 Total expensesPrior year $350,563$226,586
I-19 Revenue less expensesPrior year −$150,563−$26,586
Part VI · Governance 10 of 10 board members independent, 1 to look at
VI-1a Voting members of the governing body10
VI-1b Independent voting members10
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $200,000 across 2 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $200,000$200,000
VIII-12 Total revenueRelated to mission $200,000 · Unrelated business $0 · Excluded from tax $0$200,000
Part IX · Statement of functional expenses $226,586 across 6 lines filed
IX-11b Legal fees$142,500
IX-11c Accounting fees$9,600
IX-11g Other fees for services$71,250
IX-14 Information technology$1,321
IX-23 Insurance$1,745
IX-24 Other expenses (24a–d)$170
IX-25 Total functional expenses$226,586
Part X · Balance sheet $29,675 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $67,985$28,391
X-9 Prepaid expenses and deferred chargesStart of year $776$819
X-15 Other assets$465
X-16 Total assetsStart of year $68,761$29,675
X-17 Accounts payable and accrued expensesStart of year $20,000$7,500
X-26 Total liabilitiesStart of year $20,000$7,500
X-32 Total net assets or fund balancesStart of year $48,761$22,175
X-33 Total liabilities and net assetsStart of year $68,761$29,675
Part XI · Reconciliation of net assets $22,175 net assets at year end
XI-1 Total revenue$200,000
XI-2 Total expenses$226,586
XI-3 Revenue less expenses−$26,586
XI-4 Net assets at start of year$48,761
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$22,175

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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