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Paymentsfirst INC

Not tax-deductible

Columbia, SC501(c)(6)Mutual / membership EIN 58-1696397Revenue $3.7M in FY2024Latest return filed Nov 7, 2025

On file with the IRSpaymentsfirst.orgColumbia, SCTax-exempt since Aug 1988

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Form 990 Part I, line 1, FY2024. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 58-1696397) · Dispute this line
501(c)(6) business league; gifts are not tax-deductible as charitable contributions.
65¢ of each $1 spent went to programs.
Run by 14 volunteers and 21 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

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
Listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
No
Donations are not tax-deductible
The IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
The latest return is for FY2024, 2 tax years back.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $215K a year · 7% of revenue · last 5 filings
A surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
65%
of spending
65% of spending went to programs.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$753K
to officers and key staff · 22% of spending
Pay to officers and key staff is 22% of spending.
Part VII, Section A
Cash reserves
6.8 mo
of spending, in cash
6.8 months of spending in cash.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$118K
4% of total assets
Liabilities are 4% of assets.
Pt X · Ln 26
Independent board members
12
of 12 voting members
12 of 12 voting members are independent.
Pt VI · Ln 1a–1b
In line with peersDifferent from peersFar from peersNo peer rangeNo data yetTap a box for the reason.
Revenue
$3.7M
+8% vs prior year
Spent
$3.5M
To programs
65%
Net assets
$2.5M
By yearFY2020–FY2024
Revenue
$3.7M
FY2024▲ +8%
Tap a bar for its year
Revenue by fiscal year
FY2020$2.8M
FY2021$3.0M
FY2022$3.1M
FY2023$3.4M
FY2024$3.7M
Expenses
$3.5M
FY2024▲ +6%
Tap a bar for its year
Expenses by fiscal year
FY2020$2.8M
FY2021$2.6M
FY2022$2.8M
FY2023$3.3M
FY2024$3.5M
Net assets
$2.5M
FY2024▲ +11%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.4M
FY2021$1.8M
FY2022$2.1M
FY2023$2.3M
FY2024$2.5M

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 Aug 1988.

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

Where the money goes

65 cents of each dollar spent went to programs.

Program services 65% · $2.2M Management & general 35% · $1.2M

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; $753K paid to officers and key staff (Part VII, Section A).

Part VII, Section A · reportable compensation
Rich Leary
President
$242,380Pt VII · Sec A
Chad Frank
EVP Risk & Consulting
$190,502Pt VII · Sec A
Jennifer Stadler
EVP Marketing & Membership
$177,771Pt VII · Sec A
Allen Young
Vice President
$141,971Pt VII · Sec A
Mark Altman
Director
$0Pt VII · Sec A
Pam Davis
Director
$0Pt VII · Sec A
Jerry Siegel
Director
$0Pt VII · Sec A
Paul Ragland
Director
$0Pt VII · Sec A

Compensation history total reportable pay by year · 7 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Rich Leary$242,380$220,930$51,935——
Donna Ashworth——$187,313$232,248$184,708
Peggy Gachesa————$213,380
Gai Craig—$206,381$191,728$209,696$176,637
Chad Frank$190,502$150,220$131,310$136,904$105,466
Jennifer Stadler$177,771$119,604———
Allen Young$141,971$127,257$123,720$132,160$129,365

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 →

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

Supports secure use, advancement, and understanding of payment systems for members.

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2 programs · $2.1M · in their own filed words · FY2024
01

Education- paymentsfirst provides education support to foster compliance, advancement and understanding of electronic payments for the benefit of industry participants and the payments network.

Form 990 Part III, line 4, FY2024. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 58-1696397) · Dispute this line
$1.1Mprogram expense
02

Risk and compliance- paymentsfirst promotes growth and secure use of electronic payments through providing resources and support to identify and control risk and ensure rule and regulatory compliance for the benefit of the payments network.

Form 990 Part III, line 4, FY2024. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 58-1696397) · Dispute this line
$929Kprogram expense

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$3.7M
Ln 12
Fees for servicesLn 2g$2.1M
Gifts and grantsLn 1h$1.5M
Investment incomeLn 3$67K
Money outPt IX
$3.5M
Ln 25
Programscol B$2.2M
Managementcol C$1.2M
Owns and owesPt X
$2.5M
net assets · Ln 32
Cash and savingsLn 1–2$2.0M
Total assetsLn 16$2.6M
LiabilitiesLn 26$118K
PeoplePt VI, VII
16
listed · VII A
PaidVII A4
Voting boardVI 1a12
IndependentVI 1b12
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.5M
Fees for servicesLn 2g$2.1M
Investment incomeLn 3$67K
Other incomeLn 4–11$64K
Gains on assetsLn 7−$137
Total revenueLn 12$3.7M
Assets in detailPt X, end of year
SavingsLn 2$2.0M
Cash and savings togetherLn 1–2$2.0M
Accounts receivableLn 4$508K
Prepaid expenses and deferred chargesLn 9$117K
Land, buildings, equipmentLn 10c$13K
Intangible assetsLn 14$18K
Other assetsLn 15$10K
Total assetsLn 16$2.6M
LiabilitiesLn 26$118K
Net assetsLn 32$2.5M
OperationsPt I, VI
EmployeesI 521
VolunteersI 614
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$2.3M$2.0M
Land, buildings, equipmentLn 10c$6K$13K
Total assetsLn 16$2.9M$2.6M
LiabilitiesLn 26$677K$118K
Net assetsLn 32$2.3M$2.5M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of officers and key staff (Part IX, line 5)Ln 5$753K$489K$263K
Other salaries and wagesLn 7$1.7M$1.2M$466K
Pension plan contributionsLn 8$73K$47K$25K
Payroll taxesLn 10$27K$18K$10K
Management feesLn 11a$174K$174K
Advertising and promotionLn 12$26K$26K
Office expensesLn 13$8K$8K
OccupancyLn 16$11K$11K
TravelLn 17$64K$58K$6K
Depreciation, depletion and amortizationLn 22$31K$31K
InsuranceLn 23$23K$23K
Other expenses (24a–d)Ln 24$438K$305K$134K
All other expensesLn 24e$126K$82K$44K
Total functional expensesLn 25$3.5M$2.2M$1.2M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest ViewingFiled with the IRS Nov 7, 2025 $3.7M$3.5M$250K$2.5M 990 PDF
FY2023Filed with the IRS Oct 2, 2024 $3.4M$3.3M$171K$2.3M 990 PDF
FY2022Filed with the IRS Oct 19, 2023 $3.1M$2.8M$293K$2.1M 990 PDF
FY2021Filed with the IRS Nov 7, 2022 $3.0M$2.6M$366K$1.8M 990 PDF
FY2020Filed with the IRS Sep 8, 2021 $2.8M$2.8M−$3K$1.4M 990 PDF

Schedules filed Part IV

A · Public support I · Grants J · Pay O · Explanations
See the full FY2024 990
Part I · Summary $3,700,210 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,484,083$1,494,635
I-9 Program service revenuePrior year $1,839,498$2,074,613
I-10 Investment incomePrior year $30,028$67,431
I-11 Other revenuePrior year $73,631$63,531
I-12 Total revenuePrior year $3,427,240$3,700,210
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 $2,441,768$2,549,046
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $814,699$901,389
I-18 Total expensesPrior year $3,256,467$3,450,435
I-19 Revenue less expensesPrior year $170,773$249,775
Part VI · Governance 12 of 12 board members independent, no flags
VI-1a Voting members of the governing body12
VI-1b Independent voting members12
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
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $3,700,210 across 7 lines filed
Lines not itemized here account for $63,478 of total revenue; see the IRS return.
VIII-1b Membership dues$1,494,635
VIII-1h Total contributions, gifts and grants$1,494,635
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $2,037,363 · Unrelated business $37,250$2,074,613
VIII-3 Investment incomeExcluded from tax $67,568$67,568
VIII-7 Net gain or loss on sales of assetsRelated to mission −$137−$137
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $53$53
VIII-12 Total revenueRelated to mission $2,037,279 · Unrelated business $37,250 · Excluded from tax $131,046$3,700,210
Part IX · Statement of functional expenses $3,450,435 across 13 lines filed
IX-5 Pay of officers and key staff (Part IX, line 5)Programs $489,206 · Management $263,418$752,624
IX-7 Other salaries and wagesPrograms $1,230,055 · Management $466,299$1,696,354
IX-8 Pension plan contributionsPrograms $47,370 · Management $25,465$72,835
IX-10 Payroll taxesPrograms $17,701 · Management $9,532$27,233
IX-11a Management feesManagement $173,625$173,625
IX-12 Advertising and promotionManagement $26,485$26,485
IX-13 Office expensesManagement $7,716$7,716
IX-16 OccupancyManagement $11,201$11,201
IX-17 TravelPrograms $57,921 · Management $6,436$64,357
IX-22 Depreciation, depletion and amortizationManagement $30,891$30,891
IX-23 InsuranceManagement $22,853$22,853
IX-24 Other expenses (24a–d)Programs $304,741 · Management $133,559$438,300
IX-24e All other expensesPrograms $82,232 · Management $43,729$125,961
IX-25 Total functional expensesPrograms $2,229,226 · Management $1,221,209 · Fundraising $0$3,450,435
Part X · Balance sheet $2,630,034 assets, 14 lines filed
X-2 Savings and temporary cash investmentsStart of year $2,315,758$1,964,870
X-4 Accounts receivableStart of year $453,894$508,048
X-9 Prepaid expenses and deferred chargesStart of year $98,654$116,732
X-10c Land, buildings and equipment, netStart of year $6,465$12,779
X-14 Intangible assetsStart of year $44,492$18,064
X-15 Other assetsStart of year $20,259$9,541
X-16 Total assetsStart of year $2,939,522$2,630,034
X-17 Accounts payable and accrued expensesStart of year $289,791$64,514
X-19 Deferred revenueStart of year $365,452$41,384
X-25 Other liabilitiesStart of year $21,557$11,639
X-26 Total liabilitiesStart of year $676,800$117,537
X-27 Net assets without donor restrictionsStart of year $2,262,722$2,512,497
X-32 Total net assets or fund balancesStart of year $2,262,722$2,512,497
X-33 Total liabilities and net assetsStart of year $2,939,522$2,630,034
Part XI · Reconciliation of net assets $2,512,497 net assets at year end
XI-1 Total revenue$3,700,210
XI-2 Total expenses$3,450,435
XI-3 Revenue less expenses$249,775
XI-4 Net assets at start of year$2,262,722
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$2,512,497

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

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