2024-04-18T09:28:21-05:00 2023-06-30 GLOBAL TAX MANAGEMENT INC 656 E Swedesford Road Suite 200 WAYNE PA 19087 990 2022-07-01 232198324 Financial Managers Society Philadelphia Chapter % CHRISTINE A FUNKHOUSER FINA 4843954048 656 E Swedesford Road Wayne PA 19087 Lisa Thouin President 4843955907 2024-04-15 true Lisa Thouin 999009999 FRANCISCO NIEVES JR P01085214 4843954000 2 2022 2023-04-26 12:10:37Z Lisa Thouin 656 E Swedesford Road Wayne PA 19087 91390 false X https://www.fms-philly.org X To enhance the professional development of financial personnel within financial institutions (see Part III herein for further details). 14 14 0 17 0 58230 54543 25840 18850 1333 552 -13039 -8690 72364 65255 15000 14758 3095 3315 0 0 0 0 0 55107 69794 73202 87867 -838 -22612 252536 307665 30987 108728 221549 198937 X THE CORPORATION IS INCORPORATED UNDER THE NONPROFIT CORPORATION LAW OF THE COMMONWEALTH OF PENNSYLVANIA FOR THE FOLLOWING PURPOSE OR PURPOSES: A) TO STUDY OPERATIONS, FINANCIAL MANAGEMENT, SYSTEMS, PROCEDURES, ACCOUNTING, AUDITING, AND DATA PROCESSING TECHNIQUES USED BY FINANCIAL INSTITUTIONS, AND TO DEVISE WAYS AND MEANS OF IMPROVING THE SAME. B) TO PROMOTE HIGH STANDARDS OF PRACTICE IN OPERATIONS, SYSTEMS, PROCEDURES, FINANCIAL MANAGEMENT, ACCOUNTING, AUDITING, AND DATA PROCESSING. C) TO FURTHER THE PROFESSIONAL DEVELOPMENT OF OPERATIONS AND FINANCIAL EXECUTIVES, CONTROLLERS, TREASURERS, ACCOUNTANTS, AUDITORS, AND SYSTEMS PERSONNEL EMPLOYED BY FINANCIAL INSTITUTIONS AND SUPPORTIVE ORGANIZATIONS. D) TO UTILIZE THE PROFESSIONAL ABILITIES AND SPECIALIZED SKILLS WITHIN THE MEMBERSHIP, AND TO IMPROVE AND COORDINATE THE LAWS, REGULATIONS, AND SUPERVISORY PROCEDURES AFFECTING THE OPERATIONS MEMBERS' ORGANIZATIONS. E) TO PROVIDE A FORUM FOR THE EXCHANGE OF INFORMATION AND THE SHARING OF EXPE false false 26135 Program: August Golf Outing Date: 8/2/2022 No. of Attendees: 85 Expenses: $26,135 Description: Annual golf outing for FMS members and sponsors. We had a lunch, golf outing and dinner. The educational event, sponsored by FHLB Pittsburgh , covered regional economic and banking topics. 4264 Program: October Dinner Meeting - Auditor's Expectations over CECL adoption Date: 10/12/2022 No. of Attendees: 40 Expenses: $4,264 Description: The event was sponsored by CFGIL. Attendees that participate in this session will gain a better understanding of CECL. The Current Expected Credit Loss ("CECL") standard requires "life of loan" estimates of losses to be recorded for private companies starting January 1, 2023. This concept provides operational complexities and significantly more inputs and assumptions than in the previous impaired model. Attendees will learn here as to what auditors will expect for documentation, best practices from previous adoptions and how to properly govern the process of transitioning to CECL. 4568 Program: November Dinner Meeting- Payments in the Fast Lane ...What's the Rush? Date: November 9, 2022 No. of Attendees: 30 Expenses: $4,568 Description: The event was sponsored by ACBB. The session discussed the balance that's paramount for sustainable payment solution strategies. Community Financial Institutions and their partners face unprecedented pressure to keep pace in an ever-evolving payments landscape. This session explored options not just for 'faster payments', but for other payment automation opportunities that can drive efficiency, stimulate new product offerings, increase non-interest income - and improve customer retention. 73248 false false false false true false false false false false false false false false false false false false false false false false false false true false false false true false false false false false false false false false false false false false false false false false true 0 0 true 0 false false false false false false false false false false false false false false false false false X 14 14 false false false false false false false true true false false true false false false false X X CHRISTINE A FUNKHOUSER 4843954029 656 SWEDESFORD ROAD Wayne PA 19087 FRED DUNCAN DIRECTOR 0.0 2.0 X 0 0 0 JOHN A CARROZZA SR DIRECTOR 0.0 2.0 X 0 0 0 LARRY DAVIS DIRECTOR 0.0 2.0 X 0 0 0 THOMAS MENNIE DIRECTOR 0.0 2.0 X 0 0 0 DOROTHY JAWORSKI DIRECTOR 0.0 2.0 X 0 0 0 ALAN LLOYD DIRECTOR 0.0 2.0 X 0 0 0 PATRICK MULLOY DIRECTOR 0.0 2.0 X 0 0 0 SHANNON CROLL DIRECTOR 0.0 2.0 X 0 0 0 ROBERT B GALBREATH DIRECTOR 0.0 2.0 X 0 0 0 LISA THOUIN VICE PRESIDENT 0.0 10.0 X 0 0 0 VIRGINIA WRIGHT TREASURER 0.0 10.0 X 0 0 0 FALESHA GRASTY SECRETARY 0.0 10.0 X 0 0 0 ANNA BOGIATZIS DIRECTOR 0.0 2.0 X 0 0 0 JONATHAN SUNDBERG PRESIDENT 0.0 10.0 X 0 0 0 0 0 0 0 false false false 0 7750 16330 30463 54543 TOTAL MEETING REVENUES 511430 18850 18850 18850 552 552 0 0 0 0 0 0 17445 16330 26135 -8690 0 0 0 0 0 0 0 65255 19402 4758 4758 10000 10000 0 3315 3315 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 17342 17342 0 47113 47113 0 0 0 3135 3135 OTHER EXPENSES 2204 2204 87867 87867 85584 64075 138502 180137 0 0 20450 49036 0 0 0 0 0 0 0 0 8000 14417 0 0 0 0 0 0 0 0 0 0 0 0 252536 307665 5275 5672 0 0 25712 103056 0 0 0 0 0 0 0 0 0 0 0 0 30987 108728 X 0 0 0 0 0 0 221549 198937 252536 307665 -22612 X false false false true true false Golf Outing 33775 17445 16330 26135 0 33775 17445 16330 26135 26135 -9805 true Scholarships 4 10000 Scholarships Scholarship recipients receive a check from Financial Managers Society (FMS) that is payable to the college that they are attending. The check is then reviewed upon clearing FMS's bank account to ensure the check was cashed by the intended college and applied to tuition directly. Form 990, Part VI, Line 11b Form 990, Part VI, Line 11b - The Form 990 is completed by the organization's Designated Tax Officer based on the financial statements and schedules provided by the organization's Treasurer. The Designated Tax Officer is a CPA and Tax Director at a professional tax services firm in the Greater Philadelphia area. Any potential errors or inconsistencies are discussed and resolved prior to filing of the final form by the organization with the IRS. Form 990, Part VI, Line 19 Form 990, Part VI, Line 19 - The organization does not typically provide its governing documents, policies or financial statement to the general public. These items are available to members upon request. 2022-2023 Events 2022-2023 Events Program: August Golf Outing Date: 8/2/2022 No. of Attendees: 85 Expenses: $26,135 Description: Annual golf outing for FMS members and sponsors. We had a lunch, golf outing and dinner. The educational event, sponsored by FHLB Pittsburgh , covered regional economic and banking topics. Program: October Dinner Meeting - Auditor's Expectations over CECL adoption Date: 10/12/2022 No. of Attendees: 40 Expenses: $4,264 Description: The event was sponsored by CFGIL. Attendees that participate in this session will gain a better understanding of CECL. The Current Expected Credit Loss ("CECL") standard requires "life of loan" estimates of losses to be recorded for private companies starting January 1, 2023. This concept provides operational complexities and significantly more inputs and assumptions than in the previous impaired model. Attendees will learn here as to what auditors will expect for documentation, best practices from previous adoptions and how to properly govern the process of transitioning to CECL. Program: November Dinner Meeting- Payments in the Fast Lane ...What's the Rush? Date: November 9, 2022 No. of Attendees: 30 Expenses: $4,568 Description: The event was sponsored by ACBB. The session discussed the balance that's paramount for sustainable payment solution strategies. Community Financial Institutions and their partners face unprecedented pressure to keep pace in an ever-evolving payments landscape. This session explored options not just for 'faster payments', but for other payment automation opportunities that can drive efficiency, stimulate new product offerings, increase non-interest income - and improve customer retention. Program: Joint Top Golf Outing with South Jersey Bankers Association Date: November 16, 2022 No. of Attendees: 25 Expenses: $5,036 Description: Joint event with South Jersey Bankers Association for an evening of Top Golf and networking. Program: December - 2022 FMS Holiday Party Date: December 2, 2022 No. of Attendees: 55 Expenses: $13,626- $12,699 expense, $927 prizes Description: Snodgrass sponsored the annual holiday party and hosted a toy drive for the Toys for Tots. Program: January Dinner Meeting - Economic Update from the Federal Reserve Bank of Philadelphia and Past President Night Date: January 11, 2023 No. of Attendees: 45 Expenses: $6,687 Description: Ryo Tashiro, Senior Outreach Economist from the Federal Reserve of Philadelphia, discussed the recent economic developments of the nation and the region. The chapter's past presidents were honored. Program: February Virtual Meeting - Reimagine ALCO Strategies in the Current Environment Date: February 8, 2023 No. of Attendees: 30 Expenses: $0 Description: Darling Consulting Group hosted this strategically focused presentation which covered two themes: first, specific strategy ideas and case studies to address today's balance sheet challenges; and second, ideas to transform ALCO into a profit center. Program: March Virtual Meeting- Strategic Planning and Succession Planning Date: March 8, 2023 No. of Attendees: 30 Expenses: $0 Description: Jeff Marsico, President, The Kafafian Group and Alan J. Kaplan, CEO, Kaplan Partners, two top financial industries experts, hosted this one-hour discussion centered around the hot topics of both strategic and succession planning. Program: April Half Day Seminar Date: April 21, 2023 No. of Attendees: 40 Expenses: $6512 - $6,187 expenses, $325 prizes Description: RKL LLP and Global Tax Management jointly sponsored this four session half day event designed for CFO's, Controllers, accounting managers, investment officers, treasurers, internal auditors, and similar positions from community banks, thrifts, and credit unions. Topics presented included Tax, Alteryx for Excel Users, Fair Lending and Cybersecurity Risks. All topics were presented by industry experts. Program: Officer Installation Dinner Meeting Date: May 12, 2023 No. of Attendees: 40 Expenses: $6,420 - ($10,000 scholarship not included in expenses) Description: Annual installation event of the chapter officers. The event was sponsored by The Mercadien Group, Penn Community Bank, Meridian Bank and RSM US LLP.