AFA Financials 101

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AFA Financials 101

• Dan Marrs
• Executive Vice President

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Topics

• Tax Status 501(c)(3) vs. 501(c)(19)
• 501(c)(3) Information and Training
• Revenue from 10,000 Feet
• Expenses from 10,000 Feet

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501(c)(3) vs. 501(c)(19)

• AFA National is a 501(c)(3) as of April 15 2005
• States and Chapters as Subordinate Units remain
  501(c)(19) until the Group Exemption is Approved
• IRS Form 990 States and Chapters who must file
  will do so for 2007 as 501(c)(19)s
• New Reporting 990N

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Information and Training

• State Links GOOGLE 501 c 3 state links
• Many States have Reporting Requirements
• Many States have Registration Requirements
• Training www.stayexempt.org
• FAQs www.irs.gov/charities

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2006
(Education / Scholarships / General)
(Life Member Fund returns dedicated to Support of
43,000 Life Members)

• AFA Business Activities
• Membership Fulfillment
• AF Magazine Advertisement
• Expositions/Symposium/Special Events
• Philanthropic AFA and AFMF
• Services and Products (Insurance,
• Banking, Credit Cards AFAVBA)
• 6. Real Estate - AFAVBA

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2006
(Membership and Support of Field, Board and
Committees)
Ratio of Fund Raising Overhead vs. Programs
AEF Prior to Consolidation 22 After
Consolidation 6