Form 990 for tax year 2022
Filed by STATE FINANCIAL OFFICERS FOUNDATION INC.
Totals
- Total revenue
- $2,015,216
- Total expenses
- $1,694,826
- Contributions and grants received
- $1,986,733
- Grants paid
- $0
- Program service revenue
- $28,350
- Investment income
- $133
- Other revenue
- $0
- Total assets, end of year
- $491,964
- Total liabilities, end of year
- $0
- Net assets or fund balances, end of year
- $491,964
- Program services expenses (Part IX)
- $1,158,785
- Management and general expenses
- $328,282
- Fundraising expenses
- $207,759
- Program service expenses (Part III)
- $1,158,785
Program services were 68.4% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1f · All other contributions, gifts and grants
$1,986,733
-
2a · Program service revenue: Meeting Registration
total $28,350 · related or exempt $28,350
-
3 · Investment income
total $133 · excluded $133
-
4 · Income from investment of tax-exempt bond proceeds
total $0
-
5 · Royalties
total $0
-
6d · Net rental income or loss
total $0
-
7d · Net gain or loss
total $0
-
8c · Net income from fundraising events
total $0
-
9c · Net income from gaming
total $0
-
10c · Net income from sales of inventory
total $0
-
11e · Other revenue, total
$0
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $0
-
2 · Grants to domestic individuals
total $0
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $0
-
5 · Compensation of officers, directors and key employees
total $257,789 · program services $103,116 · management and general $103,116 · fundraising $51,557
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $92,269 · program services $30,938 · management and general $57,894 · fundraising $3,437
-
8 · Pension plan contributions
total $0
-
9 · Other employee benefits
total $23,300 · program services $8,923 · management and general $10,717 · fundraising $3,660
-
10 · Payroll taxes
total $19,861 · program services $7,945 · management and general $7,944 · fundraising $3,972
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $32,585 · program services $9,776 · management and general $22,809
-
11c · Fees: accounting
total $14,701 · management and general $14,701
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $69,272 · fundraising $69,272
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $43,500 · program services $43,500
-
12 · Advertising and promotion
total $1,900 · program services $1,235 · management and general $570 · fundraising $95
-
13 · Office expenses
total $43,127 · program services $8,259 · management and general $28,907 · fundraising $5,961
-
14 · Information technology
total $44,727 · program services $14,909 · management and general $14,909 · fundraising $14,909
-
15 · Royalties
total $0
-
16 · Occupancy
total $51,490 · management and general $51,490
-
17 · Travel
total $67,355 · program services $53,884 · management and general $13,471
-
18 · Travel or entertainment for public officials
total $58,113 · program services $58,113
-
19 · Conferences, conventions and meetings
total $552,066 · program services $497,170 · fundraising $54,896
-
20 · Interest
total $0
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $0
-
23 · Insurance
total $1,754 · management and general $1,754
-
24a · Other expenses: Communications
total $308,225 · program services $308,225
-
24b · Other expenses: SWSM Magazine
total $7,158 · program services $7,158
-
24c · Other expenses: Memberships & Consulting
total $5,634 · program services $5,634
-
24e · All other expenses
total $0
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $163,048 · end of year $385,957
-
2 · Savings and temporary cash investments
beginning of year $15,009 · end of year $84,328
-
3 · Pledges and grants receivable
end of year $0
-
4 · Accounts receivable
end of year $0
-
5 · Loans and receivables from officers and key people
end of year $0
-
6 · Loans and receivables from disqualified persons
end of year $0
-
7 · Other notes and loans receivable
end of year $0
-
8 · Inventories for sale or use
beginning of year $7,289 · end of year $0
-
9 · Prepaid expenses and deferred charges
end of year $21,679
-
10c · Land, buildings and equipment, net
end of year $0
-
11 · Investments: publicly traded securities
end of year $0
-
12 · Investments: other securities
end of year $0
-
13 · Investments: program-related
end of year $0
-
14 · Intangible assets
end of year $0
-
15 · Other assets
end of year $0
-
17 · Accounts payable and accrued expenses
beginning of year $6,483
-
31 · Retained earnings, endowment or other funds
beginning of year $178,863 · end of year $491,964
Mission and programs · 2022
Mission
To promote free market and free enterprise principles, educate both the public and state financial officers on the role of responsible financial management in a free market economy, and develop educational forums and communication plans among them.
Activities or mission (Part I)
To promote free market & free enterprise principles, and to educate both the public and state financial officers on the role of responsible financial management in a free market economy.
-
SFOF held two national conferences, which bring together state financial officers, leaders from the private sector, and academia for roundtable discussions and panels on a variety of financial and fiscal policy matters. SFOF's Center for Economic Freedom is an extension of SFOF's research and messaging capabilities, and fills a critical gap in the policy research space by compiling key information around ESG investing in public pensions and other taxpayer-funded investment vehicles. The Center for Economic Freedom's work is focused on three key areas: Researching ESG, promoting fiduciary responsibility, and driving transparency and accountability. In 2023, the Center is undertaking four key research projects that will educate legislators and citizens about the risks associated with ESG and what can be done to stop it.
Expenses $1,137,877
-
SFOF organizes, finances, and conducts the activities of its Smart Women Smart Money SWSM program. SWSM's mission is to provide financial education and empowerment to women throughout the United States by producing SWSM Magazine, an online maganize providing information and educational articles.
Expenses $20,908
As filed on the 2022 return.
Listed in Part VII
-
Derek Kreifels
CEO
- Total calculated
- $256,089
- From this org
- $256,089
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $175,000
- Bonus
- $65,000
- Other
- $16,089
- Deferred
- not reported
- Nontaxable benefits
- not reported
- Filer's total
- $256,089
-
John Hart
Director
- Total calculated
- $0
- Hours/week
- 2
-
Bridgett Wagner
Vice President
- Total calculated
- $0
- Hours/week
- 2
-
Seth Metcalf
President
- Total calculated
- $0
- Hours/week
- 2
-
Lisa B Nelson
Director
- Total calculated
- $0
- Hours/week
- 2
-
Jimmy Kemp
Secretary
- Total calculated
- $0
- Hours/week
- 2
-
Ron Crane
Treasurer
- Total calculated
- $0
- Hours/week
- 2
-
Dee Dee Bass Wilbon
Director
- Total calculated
- $0
- Hours/week
- 2
-
Dr OJ Oleka
Director
- Total calculated
- $0
- Hours/week
- 2
-
Paul Fitzpatrick
Director
- Total calculated
- $0
- Hours/week
- 2
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 3 · Compensation survey or study
- 3 · Approval by the board or compensation committee
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 15 November 2023
- IRS schema version
- 2022v5.0
- Source object
- 202333199349324628
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