Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Sep 2021.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
80 cents of each dollar spent went to programs.
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
22 people listed on the 990; $1.7M paid to officers and key staff.
Penny Lee’s $808K as CEO/President is at the 99th 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 · 5 named individuals · Part VII
| Name | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|
| Penny Lee | $808,333 | $625,000 | $554,160 | $193,178 |
| Angelena Bradfield | $359,996 | — | — | — |
| Miranda Margowsky | $235,000 | — | — | — |
| Sarah Mamula | $149,551 | — | — | — |
| Samantha Russell | $128,500 | — | — | — |
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
Educates and advocates for technology-centered financial services and modernized regulation.
Questions for Financial Technology Association
Your first name shows with your question. Financial Technology Association answers here, for everyone.
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Fta educated and informed policy-makers and the public on issues related to technology-centered financial services. It accomplished this through drafting a comprehensive white paper, comment letters, press releases, media relations, engaging policymakers, attending conferences, speaking on panels, and growing membership.
By the numbers
The FY2024 990, line by line.
Download 990
| Line | Start FY24 | End FY24 |
|---|---|---|
| Cash and savingsLn 1–2 | $1.3M | $1.3M |
| Total assetsLn 16 | $2.1M | $2.1M |
| LiabilitiesLn 26 | $1.7M | $2.2M |
| Net assetsLn 32 | $318K | −$39K |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Pay of current officers, directors and key staffLn 5 | $855K | $684K | $171K | $0 |
| Other salaries and wagesLn 7 | $873K | $698K | $175K | $0 |
| Pension plan contributionsLn 8 | $32K | $25K | $6K | $0 |
| Other employee benefitsLn 9 | $24K | $19K | $5K | $0 |
| Payroll taxesLn 10 | $83K | $67K | $17K | $0 |
| Legal feesLn 11b | $180K | $0 | $180K | $0 |
| Accounting feesLn 11c | $38K | $0 | $38K | $0 |
| Other fees for servicesLn 11g | $633K | $601K | $32K | $0 |
| Advertising and promotionLn 12 | $44K | $44K | $0 | $0 |
| Office expensesLn 13 | $53K | $43K | $11K | $0 |
| Information technologyLn 14 | $17K | $17K | $0 | $0 |
| OccupancyLn 16 | $17K | $14K | $3K | $0 |
| TravelLn 17 | $25K | $25K | $0 | $0 |
| Conferences, conventions and meetingsLn 19 | $293K | $293K | $0 | $0 |
| InsuranceLn 23 | $7K | $0 | $7K | $0 |
| Total functional expensesLn 25 | $3.2M | $2.5M | $644K | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2024 Latest Viewing | $2.8M | $3.2M | −$357K | −$39K | 990 PDF |
| FY2023 | $2.2M | $2.4M | −$158K | $318K | 990 PDF |
| FY2022 | $1.9M | $1.9M | −$15K | $476K | 990 PDF |
| FY2021 | $1.2M | $805K | $442K | $492K | 990 PDF |
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Schedules filed Part IV
See the full FY2024 990 (6 parts)
Part I · Summary $2,817,476 revenue, 12 lines filed
Part VI · Governance 15 of 16 board members independent, no flags
Part VIII · Statement of revenue $2,817,476 across 5 lines filed
Part IX · Statement of functional expenses $3,174,642 across 15 lines filed
Part X · Balance sheet $2,142,575 assets, 10 lines filed
Part XI · Reconciliation of net assets −$39,240 net assets at year end
Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File
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