Cause IQ organization profile

Financial Accounting Foundation

Program areas | Form 990s | Financials | Vendors | Personnel | Peers

Financial Accounting Foundation is a public sector improvement organization based in Norwalk, CT that was founded in 1972. As of 2019 they had $56 million in revenue and $89 million in assets.

Establish and improve Financial Accounting and reporting standards, through an independent and open process, resulting in Financial reports that provide decision-useful information. The mission of the Financial Accounting Foundation (faf) is to establ...

EIN:
23-7211935
City:
State:
Metro:
Website:
Twitter:
Founded:
1972
Type:
501(c)(3)
NTEE:
Revenue:
$56,669,119
Assets:
$89,054,313
Employees:
174
Fiscal year end:
December
Revenue trends:
Asset trends:

Program areas at Financial Accounting Foundation

Financial Accounting standards board (fasb)financial Accounting standards advisory council (fasac)established in 1973, the fasb is the independent, private-sector organization, based in norwalk, Connecticut, that establishes Financial Accounting and reporting standards for public and private companies and not-for-profit organizations that follow generally accepted Accounting principles (gaap). The fasb is recognized by the securities and exchange commission as the designated Accounting standard setter for public companies. Fasb standards are recognized as authoritative by many other organizations, including state boards of accountancy and the american institute of cpas (aicpa). The fasb develops and issues Financial Accounting standards through a transparent and inclusive process intended to promote Financial reporting that provides useful information to investors and others who use Financial reports. The Financial Accounting Foundation (faf) supports and oversees the fasb. The following are some specific accomplishments and initiatives in 2018 related to these agenda items and improving gaap in general. However, for a ...

Publishing publishing represent the distinct activities of publishing and distributing the fasb and gasb standard-setting materials. The faf licenses the content of the fasb Accounting standards codification (fasb codification) to commercial publishers and others for specific uses. The fasb codification also is directly accessible through an online platform and can be viewed either through a free basic view or as an annual paid subscription to the professional view that provides advanced functionality and navigation. The faf also sells a bound edition of the fasb codification and provides the fasb subscription, an annual paid service that includes the distribution of printed copies of fasb Accounting standards updates (asus) when issued. The faf licenses gasb materials to commercial publishers and others for specific uses. Gasb materials are also directly accessible online through the governmental Accounting research system (gars). Gars online can be viewed either through a free basic view or as an ...

Governmental Accounting standards board (gasb)governmental Accounting standards advisory council (gasac)established in 1984, the gasb is the independent, private-sector organization, based in norwalk, Connecticut, that establishes Financial Accounting and reporting standards for u.s. state and local governments that follow gaap. These standards are recognized as authoritative by state and local governments; state boards of accountancy; and the american institute of cpas (aicpa). The gasb develops and issues Financial Accounting standards through a transparent and inclusive process intended to promote Financial reporting that provides useful information to taxpayers, public officials, investors, and others who use Financial reports. The Financial Accounting Foundation (faf) supports and oversees the gasb. Whether setting new standards, improving existing ones, or helping constituents to implement and understand those standards, gasb's aim is to promote greater transparency, to support well-informed decision making, and to help users assess a government's Financial accountability. For a complete and detailed picture of the ...

Form 990s for Financial Accounting Foundation

Fiscal year endingDate received by IRSFormPDF link
2018-12Jun 19, 2019990View PDF
2017-12Sep 12, 2018990View PDF
2016-12Sep 6, 2017990View PDF
2015-12Sep 15, 2016990View PDF
2014-12Jul 6, 2015990View PDF
...and five more Form 990 PDFs

Financials for Financial Accounting Foundation

Field2018
Total grants, contributions, etc.$0
Program services$0
Investment income and dividends$1,436,290
Tax-exempt bond proceeds$0
Royalty revenue$6,805
Net rental income$0
Net gain from sale of non-inventory assets$0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$-20,312
Miscellaneous revenues$55,246,336
Total revenues$56,669,119

Vendors for Financial Accounting Foundation

VendorServicesAmount paidDate
RSM Us LLPTax accounting; Audit accounting2019-12-31
██████ ██████████ █████████ ███████Insurance2019-12-31
████Insurance2019-12-31
███ ████████ █████Investment management2019-12-31
██████Insurance2019-12-31
████████ ████ ███ ████████Insurance2019-12-31
██ █████ ██████ ███Insurance agent or broker$5,6882019-12-31
████████ ██████ ████ ███ ███ ███Participant loan processing, Consulting (general); Investment management$-29,4002019-12-31
...and 11 more vendors

Personnel at Financial Accounting Foundation

NameTitleCompensationMost recent data
Teresa S PolleyPresident and Chief Executive Officer$788,240June 13, 2019
Mary P. CrottyChief Operating Officer$501,442July 2, 2020
█████████ ██ ███████Chief of Staff-July 2, 2020
███████ ██ ██████Vice President , Public Affairs-July 2, 2020
█████████ ███ █████Vice President, Human Resources-July 2, 2020
████ ██ ███████████Executive Director / Vice President and General Counsel$416,001July 2, 2020
█████ █ ██████Technical Director , Fasb$769,893Dec. 31, 2018
██████ ██ █████Vice President, General Counsel-July 2, 2020
█████████ ██ ███████Secretary and Treasurer$60,000July 2, 2020
███████ █ █████Chairman$160,000Dec. 31, 2018
...and nine more key personnel

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