Americans for Financial Reform Education Fund

Tax-deductible

Washington, DC501(c)(3)Public & Societal BenefitEIN 82-2553525Revenue $4.2M in FY2024

On file with the IRSrealbankreform.org11 Dupont Cir Nw Ste 500, 20036-1237 · Washington, DCTax-exempt since Feb 2018Publicly supported charity — 170(b)(1)(A)(vi)

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To create a fair and just financial system that contributes to shared prosperity for all families and communities.

501(c)(3) charity; gifts are tax-deductible.
82¢ of each $1 spent went to programs.
Run by 8 volunteers and 36 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)(3)
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
Yes
Donations are tax-deductible
Looks good: the IRS lists 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
2 of 5
filings with a surplus
Average deficit $216K a year · 6% of revenue · last 5 filings
Concern: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
82%
of spending
Looks good: 82% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$901K
to officers and key staff · 19% of spending
Top officer’s pay higher than 54% of similar orgs
Fine: pay to officers and key staff is 19% of spending; 15% to 20%.
Pt VII · Sec A
Cash reserves
7 mo
of spending, in cash
Looks good: 7.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $477K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$946K
13% of total assets
Looks good: liabilities are 13% of assets; 50% or less.
Pt X · Ln 26
Independent board members
8
of 9 voting members
Looks good: 8 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$4.2M
-24% vs prior year
Spent
$4.9M
To programs
82%
Net assets
$6.3M
By yearFY2020–FY2024
Revenue
$4.2M
FY2024▼ -24%
Tap a bar for its year
Revenue by fiscal year
FY2020$2.3M
FY2021$4.0M
FY2022$3.4M
FY2023$5.6M
FY2024$4.2M
Expenses
$4.9M
FY2024▼ -2%
Tap a bar for its year
Expenses by fiscal year
FY2020$2.9M
FY2021$3.4M
FY2022$4.4M
FY2023$5.0M
FY2024$4.9M
Net assets
$6.3M
FY2024▼ -10%
Tap a bar for its year
Net assets by fiscal year
FY2020$7.1M
FY2021$7.7M
FY2022$6.3M
FY2023$7.0M
FY2024$6.3M

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 Feb 2018.

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

Where the money goes

82 cents of each dollar spent went to programs.

Program services 82% · $4.0M Management & general 14% · $698K Fundraising 4% · $181K

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

15 people listed on the 990; $901K paid to officers and key staff.

Part VII, Section A · reportable compensation
Executive Director
$162,102Pt VII · Sec A
Popular Education Mgr Take on Wall
$147,138Pt VII · Sec A
Senior Director
$125,863Pt VII · Sec A
Chief Operating Officer
$125,548Pt VII · Sec A
Research Director
$122,998Pt VII · Sec A
Policy Director
$110,014Pt VII · Sec A
Communications Director
$107,208Pt VII · Sec A
$0Pt VII · Sec A

Lisa Donner’s $162K as Executive Director is at the 54th percentile of top reported officer pay among 731 $1–10M public & societal benefit 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
Lisa Donner$162,102$163,890$159,160$151,665$138,225
Maria Robalino——$160,622——
Ericka Taylor$147,138$133,413$107,350——
Virginia Robnett—$145,890$134,845$130,833$111,001
Aditi Sen$122,998$132,840———
Porter McConnell$125,863————
Carter Dougherty$107,208$125,550$117,500$111,238$109,463
Gynnie Robnett$125,548————

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 Americans for Financial Reform Education Fund 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

Advocates for a fair financial system to benefit all families and communities.

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Provided by the organization

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1 program · $4.0M · in their own filed words · FY2024
01

Explanation Legislative advocacy to advance consumer financial protection and a more just and accountable financial system. We organize advocacy campaigns to advance or oppose legislation on a broad scope of finance and financial markets related issues, from high cost lending abuses, to investor protections, to capital markets, to…

$4.0Mprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · received and paid
Grants received · FY2025
Total grants receivedfrom 2 funders$477K
Grants paid · 56 grants · $2.4M · 2020–2024
Americans for Financial ReformDC · FY2024$300,000
Texas AppleseedTX · FY2024$40,000
Georgia WatchGA · FY2024$35,000
New Economy ProjectNY · FY2024$25,000
Maine Peoples AllianceME · FY2024$20,000
Woodstock InstituteIL · FY2024$20,000
Americans for Financial ReformDC · FY2023$200,000
AkpirgAK · FY2023$50,000
Virginia Organizing INCVA · FY2023$40,000
Texas AppleseedTX · FY2023$40,000
New Economy ProjectNY · FY2023$25,000
Woodstock InstituteIL · FY2023$25,000
Center for Lgbtq Economic AdvFY2023$20,000
Maine Peoples AllianceME · FY2023$20,000
See all 56 grants →

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$4.2M
Ln 12
Gifts and grantsLn 1h$4.0M
Investment incomeLn 3$127K
Other incomeLn 4–11$123K
Money outPt IX
$4.9M
Ln 25
Programscol B$4.0M
Managementcol C$698K
Fundraisingcol D$181K
Owns and owesPt X
$6.3M
net assets · Ln 32
Cash and savingsLn 1–2$2.8M
Total assetsLn 16$7.2M
LiabilitiesLn 26$946K
PeoplePt VI, VII
15
listed · VII A
PaidVII A7
Voting boardVI 1a9
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$4.0M
Investment incomeLn 3$127K
Other incomeLn 4–11$123K
Total revenueLn 12$4.2M
Assets in detailPt X, end of year
CashLn 1$2.8M
Cash and savings togetherLn 1–2$2.8M
InvestmentsLn 11–13$3.5M
Other assetsLn 15$285K
Total assetsLn 16$7.2M
LiabilitiesLn 26$946K
Net assetsLn 32$6.3M
OperationsPt I, VI
EmployeesI 536
VolunteersI 68
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$2.8M
InvestmentsLn 11–13$3.5M$3.5M
Total assetsLn 16$7.9M$7.2M
LiabilitiesLn 26$914K$946K
Net assetsLn 32$7.0M$6.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$399K$399K
Pay of current officers, directors and key staffLn 5$288K$229K$46K$13K
Other salaries and wagesLn 7$2.5M$2.0M$407K$115K
Other employee benefitsLn 9$669K$531K$107K$30K
Payroll taxesLn 10$99K$79K$16K$4K
Legal feesLn 11b$6K$5K$1K$69
Accounting feesLn 11c$60K$46K$13K$663
Other fees for servicesLn 11g$414K$367K$45K$2K
Office expensesLn 13$57K$45K$9K$2K
Information technologyLn 14$46K$35K$7K$4K
OccupancyLn 16$145K$116K$23K$7K
TravelLn 17$40K$40K$335−$39
Conferences, conventions and meetingsLn 19$13K$12K$286$2
InsuranceLn 23$11K$9K$2K$515
Other expenses (24a–d)Ln 24$72K$49K$21K$2K
Total functional expensesLn 25$4.9M$4.0M$698K$181K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $4.2M$4.9M−$648K$6.3M 990 PDF
FY2023 $5.6M$5.0M$585K$7.0M 990 PDF
FY2022 $3.4M$4.4M−$992K$6.3M 990 PDF
FY2021 $4.0M$3.4M$557K$7.7M 990 PDF
FY2020 $2.3M$2.9M−$583K$7.1M 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 (6 parts)
Part I · Summary $4,218,148 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $5,393,934$3,967,643
I-9 Program service revenue$0
I-10 Investment incomePrior year $105,763$127,236
I-11 Other revenuePrior year $75,207$123,269
I-12 Total revenuePrior year $5,574,904$4,218,148
I-13 Grants and similar amounts paidPrior year $517,000$399,450
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $3,441,340$3,602,302
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $1,031,937$864,531
I-18 Total expensesPrior year $4,990,277$4,866,283
I-19 Revenue less expensesPrior year $584,627−$648,135
Part VI · Governance 8 of 9 board members independent, no flags
VI-1a Voting members of the governing body9
VI-1b Independent voting members8
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 $4,218,148 across 6 lines filed
VIII-1f All other contributions, gifts and grants$3,967,643
VIII-1h Total contributions, gifts and grants$3,967,643
VIII-3 Investment incomeExcluded from tax $127,236$127,236
VIII-8 Net income from fundraising events$0
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $123,269$123,269
VIII-12 Total revenueRelated to mission $123,269 · Unrelated business $0 · Excluded from tax $127,236$4,218,148
Part IX · Statement of functional expenses $4,866,283 across 15 lines filed
IX-1 Grants to domestic organizationsPrograms $399,450$399,450
IX-5 Pay of current officers, directors and key staffPrograms $228,642 · Management $45,979 · Fundraising $13,029$287,650
IX-7 Other salaries and wagesPrograms $2,024,439 · Management $407,110 · Fundraising $115,364$2,546,913
IX-9 Other employee benefitsPrograms $531,381 · Management $106,860 · Fundraising $30,281$668,522
IX-10 Payroll taxesPrograms $78,864 · Management $15,859 · Fundraising $4,494$99,217
IX-11b Legal feesPrograms $4,813 · Management $1,401 · Fundraising $69$6,283
IX-11c Accounting feesPrograms $45,847 · Management $13,342 · Fundraising $663$59,852
IX-11g Other fees for servicesPrograms $367,148 · Management $45,018 · Fundraising $2,237$414,403
IX-13 Office expensesPrograms $45,442 · Management $8,696 · Fundraising $2,469$56,607
IX-14 Information technologyPrograms $35,465 · Management $7,078 · Fundraising $3,654$46,197
IX-16 OccupancyPrograms $115,583 · Management $23,207 · Fundraising $6,577$145,367
IX-17 TravelPrograms $39,783 · Management $335 · Fundraising −$39$40,079
IX-19 Conferences, conventions and meetingsPrograms $12,396 · Management $286 · Fundraising $2$12,684
IX-23 InsurancePrograms $9,044 · Management $1,819 · Fundraising $515$11,378
IX-24 Other expenses (24a–d)Programs $48,580 · Management $20,991 · Fundraising $2,110$71,681
IX-25 Total functional expensesPrograms $3,986,877 · Management $697,981 · Fundraising $181,425$4,866,283
Part X · Balance sheet $7,219,625 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $2,298,978$2,821,078
X-3 Pledges and grants receivableStart of year $1,103,265$482,809
X-9 Prepaid expenses and deferred chargesStart of year $91,979$99,507
X-11 Publicly traded securitiesStart of year $3,488,536$3,531,704
X-15 Other assetsStart of year $112,185$284,527
X-16 Total assetsStart of year $7,919,764$7,219,625
X-17 Accounts payable and accrued expensesStart of year $436,292$402,756
X-25 Other liabilitiesStart of year $135,854$543,454
X-26 Total liabilitiesStart of year $914,146$946,210
X-27 Net assets without donor restrictionsStart of year $3,652,739$2,948,274
X-28 Net assets with donor restrictionsStart of year $3,352,879$3,325,141
X-32 Total net assets or fund balancesStart of year $7,005,618$6,273,415
X-33 Total liabilities and net assetsStart of year $7,919,764$7,219,625
Part XI · Reconciliation of net assets $6,273,415 net assets at year end
XI-1 Total revenue$4,218,148
XI-2 Total expenses$4,866,283
XI-3 Revenue less expenses−$648,135
XI-4 Net assets at start of year$7,005,618
XI-5 Net unrealized gains (losses) on investments−$84,068
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$6,273,415

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

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