American Fintech Council

Not tax-deductible

Washington, DC501(c)(6)Community Development EIN 81-3819306Revenue $4.1M in FY2024Latest return filed Nov 14, 2025

On file with the IRSfintechcouncil.org853 New Jersey Ave Se Ste 200, 20003-5022 · Washington, DCTax-exempt since May 2019

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Fosters responsible innovation and sound public policy in financial technology.

501(c)(6) business league; gifts are not tax-deductible as charitable contributions.
Run by 13 volunteers and 8 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · 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
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
4 of 5
filings with a surplus
Average surplus $104K a year · 4% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Pay to officers and key staff
$1.5M
to officers and key staff · 39% of spending
Concern: pay to officers and key staff is 39% of spending; over 30%.
Pt VII · Sec A
6 mo
of spending, in cash
Looks good: 6.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$1.5M
67% of total assets
Worth a look: liabilities are 67% of assets; over 65%.
Pt X · Ln 26
Independent board members
13
of 13 voting members
Looks good: 13 of 13 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$4.1M
+82% vs prior year
Spent
$3.8M
Net assets
$727K
By yearFY2020–FY2024
Revenue
$4.1M
FY2024▲ +82%
Tap a bar for its year
Revenue by fiscal year
FY2020$1.3M
FY2021$1.6M
FY2022$2.3M
FY2023$2.3M
FY2024$4.1M
Expenses
$3.8M
FY2024▲ +101%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.1M
FY2021$2.2M
FY2022$2.0M
FY2023$1.9M
FY2024$3.8M
Net assets
$727K
FY2024▲ +74%
Tap a bar for its year
Net assets by fiscal year
FY2020$382K
FY2021−$197K
FY2022$48K
FY2023$418K
FY2024$727K

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

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in May 2019.

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

Who runs it and what they're paid

18 people listed on the 990; $1.5M paid to officers and key staff.

Part VII, Section A · reportable compensation
Chief Executive Officer
$600,000Pt VII · Sec A
$311,000Pt VII · Sec A
Head of Policy & Regulatory Affairs
$260,000Pt VII · Sec A
Chief Strategy Officer
$178,221Pt VII · Sec A
$120,667Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A

Y Phillip Goldfeder’s $600K as Chief Executive Officer is at the 98th percentile of top reported officer pay among 2832 $1–10M community development 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 · 8 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Y Phillip Goldfeder$600,000$370,096———
Garry Reeder——$593,750$405,500—
Nathanial Hoopes————$316,124
Rebecca O'Mara$311,000$260,000$300,000$159,833—
Yana Miles—$239,584$300,000$112,647—
Ian Moloney$260,000————
Gerron Levi—$204,317$235,417——
Elizabeth Gorz$178,221$11,458———

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 American Fintech Council 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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Promotes responsible innovation and sound public policy in financial technology.

Questions for American Fintech Council

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Your first name shows with your question. American Fintech Council answers here, for everyone.

1 program · in their own filed words · FY2024
01

The mission of afc is to promote a transparent, efficient, and customer-friendly financial system by supporting the responsible growth of financial technology, fostering innovation in financial technology, and encouraging sound public policy.

Pt IX · col B

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$4.1M
Ln 12
Fees for servicesLn 2g$4.1M
Money outPt IX
$3.8M
Ln 25
Owns and owesPt X
$727K
net assets · Ln 32
Cash and savingsLn 1–2$1.9M
Total assetsLn 16$2.2M
LiabilitiesLn 26$1.5M
PeoplePt VI, VII
18
listed · VII A
PaidVII A5
Voting boardVI 1a13
IndependentVI 1b13
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$4.1M
Total revenueLn 12$4.1M
Assets in detailPt X, end of year
CashLn 1$1.9M
Cash and savings togetherLn 1–2$1.9M
Land, buildings, equipmentLn 10c$34K
Other assetsLn 15$43K
Total assetsLn 16$2.2M
LiabilitiesLn 26$1.5M
Net assetsLn 32$727K
OperationsPt I, VI
EmployeesI 58
VolunteersI 613
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$1.1M$1.9M
Land, buildings, equipmentLn 10c$15K$34K
Total assetsLn 16$1.2M$2.2M
LiabilitiesLn 26$774K$1.5M
Net assetsLn 32$418K$727K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$1.8M
Other salaries and wagesLn 7$214K
Pension plan contributionsLn 8$21K
Other employee benefitsLn 9$17K
Payroll taxesLn 10$107K
Legal feesLn 11b$902K
Accounting feesLn 11c$43K
Lobbying feesLn 11d$156K
Other fees for servicesLn 11g$124K
Advertising and promotionLn 12$3K
Office expensesLn 13$37K
Information technologyLn 14$23K
OccupancyLn 16$74K
TravelLn 17$111K
Conferences, conventions and meetingsLn 19$160K
Depreciation, depletion and amortizationLn 22$7K
InsuranceLn 23$23K
Other expenses (24a–d)Ln 24$36K
Total functional expensesLn 25$3.8M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest ViewingFiled with the IRS Nov 14, 2025 $4.1M$3.8M$314K$727K 990 PDF
FY2023Filed with the IRS May 23, 2024 $2.3M$1.9M$370K$418K 990 PDF
FY2022Filed with the IRS May 9, 2023 $2.3M$2.0M$246K$48K 990 PDF
FY2021Filed with the IRS May 16, 2022 $1.6M$2.2M−$578K−$197K 990 PDF
FY2020Filed with the IRS Oct 5, 2021 $1.3M$1.1M$171K$382K 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support J · Pay O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $4,130,928 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $2,270,278$4,130,928
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $2,270,278$4,130,928
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 $1,299,865$2,118,360
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $600,413$1,698,763
I-18 Total expensesPrior year $1,900,278$3,817,123
I-19 Revenue less expensesPrior year $370,000$313,805
Part VI · Governance 13 of 13 board members independent, 1 to look at
VI-1a Voting members of the governing body13
VI-1b Independent voting members13
VI-2 Family or business relationship among officers or directorsYes
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 $4,130,928 across 2 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $4,130,928$4,130,928
VIII-12 Total revenueRelated to mission $4,130,928 · Unrelated business $0 · Excluded from tax $0$4,130,928
Part IX · Statement of functional expenses $3,817,123 across 18 lines filed
IX-5 Pay of current officers, directors and key staff$1,760,751
IX-7 Other salaries and wages$213,651
IX-8 Pension plan contributions$20,912
IX-9 Other employee benefits$16,524
IX-10 Payroll taxes$106,522
IX-11b Legal fees$901,924
IX-11c Accounting fees$42,600
IX-11d Lobbying fees$156,170
IX-11g Other fees for services$124,098
IX-12 Advertising and promotion$2,877
IX-13 Office expenses$37,292
IX-14 Information technology$23,030
IX-16 Occupancy$73,612
IX-17 Travel$111,293
IX-19 Conferences, conventions and meetings$160,216
IX-22 Depreciation, depletion and amortization$7,133
IX-23 Insurance$22,692
IX-24 Other expenses (24a–d)$35,826
IX-25 Total functional expenses$3,817,123
Part X · Balance sheet $2,198,822 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $1,114,635$1,916,555
X-4 Accounts receivableStart of year $49,206$196,728
X-9 Prepaid expenses and deferred chargesStart of year $2,704$7,683
X-10c Land, buildings and equipment, netStart of year $15,439$34,438
X-15 Other assetsStart of year $9,355$43,418
X-16 Total assetsStart of year $1,191,339$2,198,822
X-17 Accounts payable and accrued expensesStart of year $25,432$676,294
X-19 Deferred revenueStart of year $748,227$795,318
X-26 Total liabilitiesStart of year $773,659$1,471,612
X-27 Net assets without donor restrictionsStart of year $417,680$727,210
X-32 Total net assets or fund balancesStart of year $417,680$727,210
X-33 Total liabilities and net assetsStart of year $1,191,339$2,198,822
Part XI · Reconciliation of net assets $727,210 net assets at year end
XI-1 Total revenue$4,130,928
XI-2 Total expenses$3,817,123
XI-3 Revenue less expenses$313,805
XI-4 Net assets at start of year$417,680
XI-9 Other changes in net assets−$4,275
XI-10 Net assets at end of year$727,210

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

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