Paymentsfirst INC FY2023 filing

Not tax-deductible

Linthicum Hts, MD501(c)(6)EIN 52-1051341

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The primary activity of the organization is training amd member support on electronic payments.

55¢ of each $1 spent went to programs.
$306K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

Before you give

FY2023 · 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
5 of 5
filings with a surplus
Average surplus $407K a year · 14% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
55%
of spending
Worth a look: 55% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$306K
to officers and key staff · 10% of spending
Looks good: pay to officers and key staff is 10% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
27 mo
of spending, in cash
Looks good: 27.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$777K
11% of total assets
Looks good: liabilities are 11% of assets; 50% or less.
Pt X · Ln 26
Independent board members
16
of 16 voting members
Looks good: 16 of 16 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$3.4M
+13% vs prior year
Spent
$2.9M
To programs
55%
Net assets
$6.2M
By yearFY2020–FY2024
Revenue
$3.4M
FY2023▲ +13%
Revenue by fiscal year
FY2020$2.0M
FY2021$2.4M
FY2022$3.0M
FY2023$3.4M
FY2024$3.5M
Expenses
$2.9M
FY2023▲ +13%
Expenses by fiscal year
FY2020$1.7M
FY2021$1.8M
FY2022$2.6M
FY2023$2.9M
FY2024$3.2M
Net assets
$6.2M
FY2023▲ +8%
Net assets by fiscal year
FY2020$4.9M
FY2021$5.4M
FY2022$5.8M
FY2023$6.2M
FY2024$6.6M

From the FY2023 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jan 1976.

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

Where the money goes

55 cents of each dollar spent went to programs.

Program services 55% · $1.6M Management & general 45% · $1.3M

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

16 people listed on the 990; $306K paid to officers and key staff.

Part VII, Section A · reportable compensation
$306,225Pt VII · Sec A
Secretary, T
$0Pt VII · Sec A
Vice Chairpe
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Mary Gilmeister$383,351$306,225$285,650$199,550$127,621
Robert Dael————$166,740

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.

See Paymentsfirst INC 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 15aYes

Programs and updates

Trains and supports members on electronic payments.

Provided by the organization

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1 program service account for $1.6M of program spending, described in the organization's own filed words · FY2023.
01

Macha is a members-based organization that provides education and operational support to payment professionals.

$1.6Mprogram expense

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By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$3.4M
Ln 12
Fees for servicesLn 2g$3.1M
Investment incomeLn 3$219K
Other incomeLn 4–11$13K
Money outPt IX
$2.9M
Ln 25
Programscol B$1.6M
Managementcol C$1.3M
Owns and owesPt X
$6.2M
net assets · Ln 32
Cash and savingsLn 1–2$6.7M
Total assetsLn 16$7.0M
LiabilitiesLn 26$777K
PeoplePt VI, VII
16
listed · VII A
PaidVII A1
Voting boardVI 1a16
IndependentVI 1b16
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$3.1M
Investment incomeLn 3$219K
Other incomeLn 4–11$13K
Gains on assetsLn 7−$8
Total revenueLn 12$3.4M
Assets in detailPt X, end of year
CashLn 1$309K
SavingsLn 2$6.4M
Cash and savings togetherLn 1–2$6.7M
Land, buildings, equipmentLn 10c$15K
Other assetsLn 15$161K
Total assetsLn 16$7.0M
LiabilitiesLn 26$777K
Net assetsLn 32$6.2M
OperationsPt I, VI
EmployeesI 512
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 FY23End FY23
Cash and savingsLn 1–2$6.1M$6.7M
Land, buildings, equipmentLn 10c$20K$15K
Total assetsLn 16$6.6M$7.0M
LiabilitiesLn 26$745K$777K
Net assetsLn 32$5.8M$6.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$306K$306K
Other salaries and wagesLn 7$1.0M$650K$397K
Pension plan contributionsLn 8$177K$177K
Other employee benefitsLn 9$131K$46K$85K
Payroll taxesLn 10$91K$59K$33K
Legal feesLn 11b$35K$35K
Accounting feesLn 11c$108K$108K
Other fees for servicesLn 11g$54K$54K
Office expensesLn 13$104K$97K$7K
Information technologyLn 14$14K$14K
OccupancyLn 16$130K$130K
TravelLn 17$37K$37K
Conferences, conventions and meetingsLn 19$148K$148K
Depreciation, depletion and amortizationLn 22$6K$6K
InsuranceLn 23$25K$25K
Other expenses (24a–d)Ln 24$497K$242K$255K
All other expensesLn 24e$13K$13K
Total functional expensesLn 25$2.9M$1.6M$1.3M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $3.5M$3.2M$354K$6.6M 990 PDF
FY2023 Viewing $3.4M$2.9M$438K$6.2M 990 PDF
FY2022 $3.0M$2.6M$399K$5.8M 990 PDF
FY2021 $2.4M$1.8M$559K$5.4M 990 PDF
FY2020 $2.0M$1.7M$285K$4.9M 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 FY2023 990 (4 parts)
Part VIII · Statement of revenue $3,361,930 across 5 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $3,130,735$3,130,735
VIII-3 Investment incomeRelated to mission $218,698$218,698
VIII-7 Net gain or loss on sales of assetsRelated to mission −$8−$8
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $12,505$12,505
VIII-12 Total revenueRelated to mission $3,361,930$3,361,930
Part IX · Statement of functional expenses $2,924,173 across 17 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $306,255$306,255
IX-7 Other salaries and wagesPrograms $650,345 · Management $397,423$1,047,768
IX-8 Pension plan contributionsPrograms $177,484$177,484
IX-9 Other employee benefitsPrograms $46,207 · Management $84,869$131,076
IX-10 Payroll taxesPrograms $58,751 · Management $32,647$91,398
IX-11b Legal feesManagement $35,023$35,023
IX-11c Accounting feesManagement $108,223$108,223
IX-11g Other fees for servicesManagement $54,499$54,499
IX-13 Office expensesPrograms $97,291 · Management $6,584$103,875
IX-14 Information technologyManagement $13,916$13,916
IX-16 OccupancyManagement $129,718$129,718
IX-17 TravelManagement $36,602$36,602
IX-19 Conferences, conventions and meetingsManagement $147,564$147,564
IX-22 Depreciation, depletion and amortizationPrograms $5,522$5,522
IX-23 InsuranceManagement $25,000$25,000
IX-24 Other expenses (24a–d)Programs $242,251 · Management $254,977$497,228
IX-24e All other expensesPrograms $13,022$13,022
IX-25 Total functional expensesPrograms $1,597,128 · Management $1,327,045 · Fundraising $0$2,924,173
Part X · Balance sheet $7,020,064 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $603,009$309,293
X-2 Savings and temporary cash investmentsStart of year $5,509,272$6,352,510
X-4 Accounts receivableStart of year $30,711$12,722
X-9 Prepaid expenses and deferred chargesStart of year $116,109$169,791
X-10c Land, buildings and equipment, netStart of year $20,356$14,825
X-15 Other assetsStart of year $271,271$160,923
X-16 Total assetsStart of year $6,550,728$7,020,064
X-17 Accounts payable and accrued expensesStart of year $57,336$17,904
X-19 Deferred revenueStart of year $461,388$606,526
X-25 Other liabilitiesStart of year $226,380$152,253
X-26 Total liabilitiesStart of year $745,104$776,683
X-27 Net assets without donor restrictionsStart of year $5,805,624$6,243,381
X-32 Total net assets or fund balancesStart of year $5,805,624$6,243,381
X-33 Total liabilities and net assetsStart of year $6,550,728$7,020,064
Part XI · Reconciliation of net assets $6,243,381 net assets at year end
XI-1 Total revenue$3,361,930
XI-2 Total expenses$2,924,173
XI-3 Revenue less expenses$437,757
XI-4 Net assets at start of year$5,805,624
XI-10 Net assets at end of year$6,243,381

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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