Certified Financial Planner Board of Standards Inc

Analysis

Certified Financial Planner Board of Standards Inc is a registered charity in United States, based in Washington, DC. It received its IRS tax-exemption ruling in December 1985, 41 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Certified Financial Planner Board of Standards Inc reported income of $4.5m and spending of $7.5m, spending 168% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $44.5m to $4.5m (-90%), an average of -44% a year. The sharpest change came in the year to December 2023, when income dropped by 91%. Over the whole period it spent 102% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Certified Financial Planner Board of Standards Inc sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 79th percentile within DC. Charities of a similar size with the same main cause include Lean Construction Institute Inc ($4.5m), Rock River Valley Self-Help Enterprises ($4.5m) and Coastal Counties Workforce Inc ($4.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 43% and program service revenue 0.2% of the total. Compensation of current officers, directors and key employees was $212k (2.8% of expenses). Other salaries and wages came to $1.7m. At year end it held assets of $54.3m against liabilities of $21.9m, net assets of $32.3m. It reported 153 employees.