Electronic Payments Coalition INC

Not tax-deductible

Washington, DC501(c)(6)Since 2015Mutual/MembershipEIN 47-4908678

To advance the common business interests of the electronic payments industry. To educate policymakers, consumers, the media and the public on the role electronic payments industry plays in global growth. To analyze legislation that may affect the industry.

$2.2M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Pay: Part VII

Before you give

FY2024 · 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 5
filings with a surplus
Average surplus $641K a year · 2% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Pay to officers and key staff
$2.2M
to officers and key staff · 3% of spending
Looks good: pay to officers and key staff is 3% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
3 mo
of spending, in cash
Looks good: 3.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$25.1M
87% of total assets
Concern: liabilities are 87% of assets; over 80%.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$72.8M
+31% vs prior year
Spent
$83.0M
Net assets
$3.9M
By yearFY2020–FY2024
Revenue
$72.8M
FY2024▲ +31%
Revenue by fiscal year
FY2020$1.7M
FY2021$2.6M
FY2022$8.9M
FY2023$55.6M
FY2024$72.8M
Expenses
$83.0M
FY2024▲ +83%
Expenses by fiscal year
FY2020$2.2M
FY2021$2.3M
FY2022$5.4M
FY2023$45.3M
FY2024$83.0M
Net assets
$3.9M
FY2024▼ -72%
Net assets by fiscal year
FY2020$176K
FY2021$386K
FY2022$3.8M
FY2023$14.1M
FY2024$3.9M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Apr 2016.

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

Who runs it and what they're paid

9 people listed on the 990; $2.2M paid to officers and key staff.

Part VII, Section A · reportable compensation
Executive Chairman
$1,800,000Pt VII · Sec A
Managing Director, Communications & Public Affairs
$416,068Pt VII · Sec A
Chairman
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Richard Hunt’s $1.8M as Executive Chairman is at the 100th percentile of top reported officer pay among 163 $10–100M mutual/membership nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 3 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Richard Hunt$1,800,000$750,000———
Jeff Tassey——$510,108$431,631$408,811
Nicklaus Simpson$416,068$121,456———

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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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 15aYes

Programs and updates

Promotes electronic payments, educates the public and policymakers, and analyzes relevant legislation.

Provided by the organization

This section is blank until Electronic Payments Coalition INC claims this page.

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1 program service, described in the organization's own filed words · FY2024.
01

Worked with consumers and small businesses to educate policymakers, regulators and the media about the safety, security and economic benefits of credit card payments as well as the potential harm resulting from imposing untested mandates.

Pt IX · col B

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · this organization's grantmaking
Grants paid · 12 grants · $570K · 2023–2024
Kansas Bankers AssociationKS · FY2024$100,000
Common Sense InstituteCO · FY2024$10,000
The New American Populist INCTN · FY2023$180,000
The Third Way FoundationNY · FY2023$50,000
Florida Credit UnionFL · FY2023$20,000
Leadership InstituteVA · FY2023$10,000

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$72.8M
Ln 12
Fees for servicesLn 2g$67.9M
Gifts and grantsLn 1h$4.9M
Money outPt IX
$83.0M
Ln 25
Owns and owesPt X
$3.9M
net assets · Ln 32
Cash and savingsLn 1–2$22.6M
Total assetsLn 16$29.0M
LiabilitiesLn 26$25.1M
PeoplePt VI, VII
9
listed · VII A
PaidVII A2
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$4.9M
Fees for servicesLn 2g$67.9M
Total revenueLn 12$72.8M
Assets in detailPt X, end of year
CashLn 1$22.6M
Cash and savings togetherLn 1–2$22.6M
Total assetsLn 16$29.0M
LiabilitiesLn 26$25.1M
Net assetsLn 32$3.9M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
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 FY24End FY24
Cash and savingsLn 1–2$27.7M$22.6M
Total assetsLn 16$31.7M$29.0M
LiabilitiesLn 26$17.6M$25.1M
Net assetsLn 32$14.1M$3.9M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$160K
Pay of current officers, directors and key staffLn 5$2.2M
Other salaries and wagesLn 7$1.0M
Pension plan contributionsLn 8$14K
Other employee benefitsLn 9$12K
Payroll taxesLn 10$56K
Legal feesLn 11b$432K
Accounting feesLn 11c$241K
Lobbying feesLn 11d$2.0M
Other fees for servicesLn 11g$76.1M
Office expensesLn 13$194K
Information technologyLn 14$8K
TravelLn 17$24K
Other expenses (24a–d)Ln 24$480K
All other expensesLn 24e$300
Total functional expensesLn 25$83.0M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $72.8M$83.0M−$10.2M$3.9M 990 PDF
FY2023 $55.6M$45.3M$10.3M$14.1M 990 PDF
FY2022 $8.9M$5.4M$3.4M$3.8M 990 PDF
FY2021 $2.6M$2.3M$210K$386K 990 PDF
FY2020 $1.7M$2.2M−$493K$176K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (4 parts)
Part VIII · Statement of revenue $72,764,438 across 4 lines filed
VIII-1f All other contributions, gifts and grants$4,880,000
VIII-1h Total contributions, gifts and grants$4,880,000
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $67,884,438$67,884,438
VIII-12 Total revenueRelated to mission $67,884,438 · Unrelated business $0 · Excluded from tax $0$72,764,438
Part IX · Statement of functional expenses $82,956,885 across 15 lines filed
IX-1 Grants to domestic organizations$160,000
IX-5 Pay of current officers, directors and key staff$2,176,140
IX-7 Other salaries and wages$1,039,673
IX-8 Pension plan contributions$13,842
IX-9 Other employee benefits$11,937
IX-10 Payroll taxes$55,533
IX-11b Legal fees$431,598
IX-11c Accounting fees$241,391
IX-11d Lobbying fees$2,028,062
IX-11g Other fees for services$76,091,761
IX-13 Office expenses$193,758
IX-14 Information technology$8,453
IX-17 Travel$24,427
IX-24 Other expenses (24a–d)$480,010
IX-24e All other expenses$300
IX-25 Total functional expenses$82,956,885
Part X · Balance sheet $28,981,946 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $27,699,513$22,621,946
X-3 Pledges and grants receivable$4,880,000
X-4 Accounts receivableStart of year $4,001,648$1,155,000
X-9 Prepaid expenses and deferred charges$325,000
X-16 Total assetsStart of year $31,701,161$28,981,946
X-17 Accounts payable and accrued expensesStart of year $4,801,345$5,552,523
X-19 Deferred revenueStart of year $12,836,038$19,558,092
X-26 Total liabilitiesStart of year $17,637,383$25,110,615
X-27 Net assets without donor restrictionsStart of year $14,063,778$3,871,331
X-32 Total net assets or fund balancesStart of year $14,063,778$3,871,331
X-33 Total liabilities and net assetsStart of year $31,701,161$28,981,946
Part XI · Reconciliation of net assets $3,871,331 net assets at year end
XI-1 Total revenue$72,764,438
XI-2 Total expenses$82,956,885
XI-3 Revenue less expenses−$10,192,447
XI-4 Net assets at start of year$14,063,778
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$3,871,331

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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