Form 990 for tax year 2023
Filed by CERTIFIED LEASE & FINANCE PROFESSIONAL FOUNDATION.
Totals
- Total revenue
- $798,040
- Total expenses
- $555,492
- Contributions and grants received
- $237,684
- Grants paid
- $0
- Program service revenue
- $523,102
- Investment income
- $24,642
- Other revenue
- $12,612
- Total assets, end of year
- $1,358,628
- Total liabilities, end of year
- $264,373
- Net assets or fund balances, end of year
- $1,094,255
- Program services expenses (Part IX)
- not reported
- Management and general expenses
- not reported
- Fundraising expenses
- not reported
- Program service expenses (Part III)
- $65,480
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.
-
1b · Membership dues
$178,881
-
1f · All other contributions, gifts and grants
$58,803
-
2a · Program service revenue: ACADEMY OF LEASE & FIN
total $271,064 · related or exempt $271,064
-
2b · Program service revenue: CLFP EXAM TESTING FEE
total $252,038 · related or exempt $252,038
-
3 · Investment income
total $24,642 · related or exempt $24,642
-
10a · Gross sales of inventory
$26,798
-
10b · Cost of goods sold
$14,186
-
10c · Net income from sales of inventory
total $12,612 · related or exempt $12,612
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $206,500
-
7 · Other salaries and wages
total $164,938
-
10 · Payroll taxes
total $28,685
-
11b · Fees: legal
total $15,116
-
11g · Fees: other
total $10,897
-
12 · Advertising and promotion
total $5,952
-
13 · Office expenses
total $736
-
17 · Travel
total $60,962
-
22 · Depreciation, depletion and amortization
total $392
-
23 · Insurance
total $1,409
-
24a · Other expenses: AFLP EXPENSES / PROCTOR
total $24,683
-
24b · Other expenses: CREDIT CARD FEES
total $9,613
-
24c · Other expenses: PLAQUES / CERTIFICATES
total $5,887
-
24d · Other expenses: POSTAGE AND DELIVERY
total $5,297
-
24e · All other expenses
total $14,425
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $479,178 · end of year $317,786
-
4 · Accounts receivable
beginning of year $51,143 · end of year $161,045
-
9 · Prepaid expenses and deferred charges
beginning of year $24,622 · end of year $16,627
-
10a · Land, buildings and equipment: cost or other basis
$2,850
-
10b · Land, buildings and equipment: accumulated depreciation
$2,434
-
10c · Land, buildings and equipment, net
beginning of year $808 · end of year $416
-
12 · Investments: other securities
beginning of year $503,473 · end of year $849,694
-
15 · Other assets
beginning of year $16,138 · end of year $13,060
-
17 · Accounts payable and accrued expenses
beginning of year $5,944 · end of year $6,885
-
19 · Deferred revenue
beginning of year $217,711 · end of year $257,488
-
29 · Capital stock, trust principal or current funds
beginning of year $0 · end of year $0
-
30 · Paid-in or capital surplus, or land, building or equipment fund
beginning of year $0 · end of year $0
-
31 · Retained earnings, endowment or other funds
beginning of year $851,707 · end of year $1,094,255
Mission and programs · 2023
Mission
THE CLFP FOUNDATION IS AN EDUCATION AND CERTIFYING BODY CREATED TO RAISE THE INDUSTRY STANDARDS AMONG EQUIPMENT LEASING AND FINANCING PROFESSIONALS.
-
THE FOUNDATION SPONSORS THE ACADEMY OF LEASING AND FINANCE PROFEESIONALS. THE ACADEMY PROVIDES CLASSES AND TRAINING FOR INDIVIDUALS INTERESTED IN IMPROVING THEIR SKILLS IN THE INDUSTRY.
Expenses $20,724 · Revenue $271,064
-
THE FOUNDATION PROVIDES THE OPPORTUNITY FOR FINANCE PROFESSIONALS TO BECOME CERTIFIED AS A CERTIFIED LEASE AND FINANCE PROFESSIONAL.
Expenses $30,570 · Revenue $252,038
-
THE FOUNDATION OFFERS A HANDBOOK TO BE PURCHASED TO SHARE THE KNOWLEDGE FROM INDIVDIUALS WITHIN THE FOUNDATION.
Expenses $14,186 · Revenue $26,798
As filed on the 2023 return.
Listed in Part VII
-
Lia Wax ClfpLIA WAX CLFP
PRESIDENT
- Total calculated
- $0
- Hours/week
- 2
-
Todd Buzard CPA ClfpTODD BUZARD CPA CLFP
VICE PRESIDENT
- Total calculated
- $0
- Hours/week
- 2
-
Mike McDonald ClfpMIKE MCDONALD CLFP
TREASURER
- Total calculated
- $0
- Hours/week
- 2
-
Candace Reinhart ClfpCANDACE REINHART CLFP
SECRETARY
- Total calculated
- $0
- Hours/week
- 2
-
Craig Colling ClfpCRAIG COLLING CLFP
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Nick Gibbens ClfpNICK GIBBENS CLFP
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Ben Hall ClfpBEN HALL CLFP
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Brent Hall ClfpBRENT HALL CLFP
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Michelle Henkelman ClfpMICHELLE HENKELMAN CLFP
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Theresa Kabot ClfpTHERESA KABOT CLFP
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Paul Knowlton ClfpPAUL KNOWLTON CLFP
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Eric Mandella ClfpERIC MANDELLA CLFP
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Jill Molitor ClfpJILL MOLITOR CLFP
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Michael Mount ClfpMICHAEL MOUNT CLFP
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Kathy Nordendahl ClfpKATHY NORDENDAHL CLFP
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Deborah Reuben ClfpDEBORAH REUBEN CLFP
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Molly Simon ClfpMOLLY SIMON CLFP
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Dave Verkinderen ClfpDAVE VERKINDEREN CLFP
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Reid Raykovich ClfpREID RAYKOVICH CLFP
CEO
- Total calculated
- $206,500
- From this org
- $206,500
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $160,000
- Bonus
- $46,500
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $206,500
-
Melissa Vinson ClfpMELISSA VINSON CLFP
VP OF MARKETING & DEVELOPMENT
- Total calculated
- $102,950
- From this org
- $102,950
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
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
- 2 · Substantiation required before reimbursing expenses
- 3 · Compensation committee
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
The filer's explanations (Part III)
- PART I, LINE 3
- SALARY IS APPROVED BY THE COMPENSATION COMMITTEE WHICH IS COMPOSED OF THE TREASURER,PRESIDENT, IMMEDIATE PAST PRESIDENT, AND INCOMING PRESIDENT (VP).
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
- 2023
- Filed
- 8 May 2024
- IRS schema version
- 2023v5.0
- Source object
- 202421349349302802
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