2024-05-08T15:10:18-05:00 2023-12-31 420714325 RSM US LLP 4622 PENNSYLVANIA AVE STE 1100 KANSAS CITY MO 64112 990 2023-01-01 611448490 FINANCIAL PLANNING STANDARDS BOARD LTD FINA 7204071907 707 17TH STREET 2925 DENVER CO 80202 DANTE DE GORI CHIEF EXECUTIVE OFFICER 7204071907 2024-04-30 1 DANTE DE GORI 999009999 0 KEVIN ENSMINGER P01310558 8167533000 2024-04-30 2 AAL1 IAL1 2023 2023-04-26 12:10:37Z DANTE DE GORI 707 17TH STREET 2925 DENVER CO 80202 5392595 0 X WWW.FSPB.ORG X 2003 DE PROMOTE WORLDWIDE PROFESSIONAL STANDARDS IN FINANCIAL PLANNING. 8 8 13 14 0 0 0 0 5145184 5327800 1155 64795 0 0 5146339 5392595 0 0 0 0 2796958 3032675 0 0 0 2510428 2386937 5307386 5419612 -161047 -27017 4677513 4618060 1500732 1463991 3176781 3154069 X FINANCIAL PLANNING STANDARDS BOARD LTD. (FPSB LTD.) BENEFITS THE GLOBAL COMMUNITY BY ESTABLISHING, UPHOLDING, AND PROMOTING WORLDWIDE PROFESSIONAL STANDARDS IN FINANCIAL PLANNING.(CONTINUED ON SCHEDULE O)FPSB LTD.'S COMMITTMENT TO EXCELLENCE IS REPRESENTED BY THE MARKS OF PROFESSIONAL DISTINCTION CFP, CERTIFIED FINANCIAL PLANNER. 0 0 THE FPSB LTD. AFFILIATE ASSESSMENT PROGRAM EVALUATES ALL ASPECTS OF AFFILIATE ORGANIZATIONS' ADMINISTRATION OF FPSB'S LICENSED CERTIFICATION PROGRAMS. ASSESSMENTS ADDRESS: 1) CONTENT ALIGNMENT WITH THE GLOBAL BODY OF KNOWLEDGE, 2) COMPLIANCE WITH GLOBAL FINANCIAL PLANNING PRACTICE STANDARDS AND CFP CERTIFICATION REQUIREMENTS, 3) ORGANIZATIONAL STABILITY AND SUSTAINABILITY TO DELIVER THE CFP CERTIFICATION PROGRAM, AND 4) COMPLIANCE WITH TERMS OF AFFILIATION AGREEMENTS. FPSB LTD. REGULARLY ENGAGES WITH AFFILIATES TO EVALUATE STATUS AND IMPLEMENT RECOMMENDATIONS FOR IMPROVEMENTS. FPSB LTD. LICENSES CERTAIN TRADEMARKS AND OTHER INTELLECTUAL PROPERTY TO AFFILIATES SO THEY CAN ESTABLISH FINANCIAL PLANNING AS A PROFESSION IN THEIR TERRITORY AND THE CFP MARKS AS THE SYMBOL OF EXCELLENCE IN FINANCIAL PLANNING. FPSB LTD. REGULARLY CONVENES CALLS AND MEETINGS, INCLUDING AN ANNUAL GLOBAL MEETING, AT WHICH AFFILIATE ORGANIZATIONS CONDUCT THE BUSINESS OF FPSB LTD. LEADERS LEARN BEST PRACTICES FROM EACH OTHER AND DEVELOP STRATEGIES FOR ESTABLISHING THE FINANCIAL PLANNING PROFESSION. FPSB LTD. OFFERS FINANCIAL PLANNING EDUCATION AND CERTIFICATION PROGRAMS DIRECTLY IN CERTAIN TERRITORIES TO BUILD THE GLOBAL FINANCIAL PLANNING PROFESSION. AS PART OF THESE EFFORTS, FPSB WILL DELIVER PROGRAMS TO INCREASE FINANCIAL LITERACY, EDUCATE PROFESSIONALS ON THE COMPONENTS OF COMPREHENSIVE FINANCIAL PLANNING AND ESTABLISH A PATHWAY OPPORTUNITY FOR THOSE PROFESSIONALS TO ACHIEVE CFP CERTIFICATION AND PRACTICE COMPREHENSIVE FINANCIAL PLANNING. 0 0 0 1 0 0 0 0 0 1 0 0 1 1 1 0 1 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 17 0 13 1 0 1 IN 0 0 0 0 0 0 X 8 8 0 0 0 0 1 0 1 1 0 0 0 1 1 1 1 1 1 1 0 0 X CHRISTIE P SEARLS 7204071907 707 17TH STREET 2925 DENVER CO 80202 ANA CLAUDIA UTUMI CHAIRPERSON ELECT / CHAIRPERSON 3.00 X X 0 0 0 GARRY MURIWAI CHAIRPERSON (THRU 3/23) 3.00 X X 0 0 0 ANDREA MIDDEL MEMBER/CHAIRPERSON ELECT 3.00 X X 0 0 0 CAROLINE DABU MEMBER 3.00 X 0 0 0 JEFF FARRAR MEMBER 3.00 X 0 0 0 KAJA KROLL MEMBER 3.00 X 0 0 0 DARREN MCSHANE MEMBER 3.00 X 0 0 0 BRETT MILLARD MEMBER 3.00 X 0 0 0 SANKIE MORATA MEMBER 3.00 X 0 0 0 DANTE DEGORI CHIEF EXECUTIVE OFFICER 40.00 X 286358 0 38643 CHRISTIE SEARLS CHIEF LEGAL OFFICER 40.00 X 231787 0 76421 ERIC CAUBLE CHIEF OPERATING OFFICER 40.00 X 270820 0 83446 PAUL GRIMES CHIEF PROFESSIONALISM OFFICER 40.00 X 271918 0 0 NORAH DUFFY SR. MANAGER OF STANDARDS & CERTIFICATION 40.00 X 128200 0 9241 TANYA DAHLEN DIRECTOR LEGAL SERVICES 40.00 X 143173 0 20000 DALIA EL-PRINCE DIRECTOR BUSINESS DEVELOPMENT-TECH 40.00 X 164278 0 13912 SARA WHITE DIRECTOR OF NETWORK ENGAGEMENT 40.00 X 141695 0 10235 AMY WISNIEWSKI DIRECTOR OF BUSINESS DEVELOPMENT-OPS 40.00 X 164811 0 29948 NOEL MAYE CHIEF EXECUTIVE OFFICER (THRU 12/22) 0.00 X 171224 0 0 1974264 0 281846 11 1 1 0 ELIGON 6595 ROSWELL ROAD SUITE G-6694 ATLANTA GA 30328 LEGAL SERVICES 320207 REFINED RESEARCH 27 INDIAN TRAIL TORONTO TORONTO CA M6R1Z8 CONSULTING ON NEW TERRITORY DEVELOPMENT, 211423 2 AFFILIATE DUES-CFP 813920 3552621 3552621 AFFILIATE DUES-OTHER 813920 805835 805835 DIRECT CERTIFICATION 813920 663616 663616 GLOBAL MEETINGS 813920 170018 170018 RESEARCH PARTICIPATION 813920 135710 135710 5327800 60473 60473 4189 133 0 0 4189 133 4322 4322 5392595 5327800 0 64795 X 1430615 1103905 67682 212609 217864 64943 114009 1836 1133674 85319 98858 142029 473561 2018 112692 63603 DUES AND SUBSCRIPTIONS 53485 SPECIAL PROJECTS 43781 OTHER 2862 FOREIGN CURRENCY -5733 5419612 875036 762516 2369062 318645 38849 34465 35067 63870 590806 495411 165195 95395 2347161 573164 552819 621140 443189 4677513 4618060 501551 522307 375990 510193 623191 431491 1500732 1463991 X 3176781 3154069 3176781 3154069 4677513 4618060 X -27017 58695 -54390 X 0 1 X 1 0 0 1 0 184125 161109 23016 185939 143612 42327 220742 190690 30052 95395 DEFERRED COMPENSATION INVESTMENTS 348438 SECURITY DEPOSITS 13116 FUNDS HELD ON BEHALF OF FPSB 23306 RIGHT TO USE OF ASSET 58329 443189 DEFFERED COMPENSATION LIABILITY 348438 LEASE LIABILITY 83053 431491 X 5449454 58695 58695 5390759 1836 1836 5392595 5417776 0 5417776 1836 1836 5419612 PART X, LINE 2: FPSB IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(6) OF THE INTERNAL REVENUE CODE. HOWEVER, INCOME FROM ACTIVITIES NOT DIRECTLY RELATED TO FPSB'S TAX-EXEMPT PURPOSE IS SUBJECT TO TAXATION AS UNRELATED BUSINESS INCOME. FPSB DID NOT HAVE TAXABLE INCOME OR INCOME TAX EXPENSE DURING THE YEARS ENDED DECEMBER 31, 2023 AND 2022. IN ADDITION, FPSB IS REQUIRED TO COLLECT AND REMIT GST IN INDIA RELATING TO CERTAIN STREAMS OF REVENUE. GST IS CONSIDERED A PASS-THROUGH TRANSACTION; AS SUCH, NO REVENUES OR EXPENSES ARE RECOGNIZED WHEN GST IS COLLECTED FROM THE CUSTOMER. FURTHERMORE, FPSB PAYS AN EQUALIZATION LEVY ON REVENUE STREAMS COMING TO THE UNITED STATES AND ALSO PAYS A ROYALTY TAX ON THE EDUCATION PROVIDER FEES REVENUE STREAM WHICH IS INCLUDED IN THE OTHER EDUCATION PROGRAM FEES LINE ITEMS ON THE CONSOLIDATED STATEMENTS OF ACTIVITIES. FPSB APPLIED THE PROVISIONS OF THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES TOPIC OF THE ASC. MANAGEMENT HAS EVALUATED FPSB'S TAX POSITIONS AND CONCLUDED THAT FPSB HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH PROVISIONS OF THIS GUIDANCE. CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 PROGRAM SERVICES DOMAIN REGISTRATION FOR LEGAL 90 EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 0 0 PROGRAM SERVICES PROGRAM DEVELOPMENT, GLOBAL MEETING 556650 SOUTH ASIA - AFGHANISTAN, BANGLADESH, BHUTAN, INDIA, MALDIVES, NEPAL, 1 8 PROGRAM SERVICES CONTENT DEVELOPMENT 851050 SUB-SAHARAN AFRICA - ANGOLA, BENIN, BOTSWANA, BURKINA FASO, 0 0 PROGRAM SERVICES PROGRAM DEVELOPMENT 3817 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 0 PROGRAM SERVICES PROGRAM DEVELOPMENT 423486 MIDDLE EAST AND NORTH AFRICA - ALGERIA, BAHRAIN, DJIBOUTI, EGYPT, 0 0 PROGRAM SERVICES PROGRAM DEVELOPMENT 4519 NORTH AMERICA - CANADA AND MEXICO, BUT NOT THE UNITED STATES 0 0 PROGRAM SERVICES PROGRAM DEVELOPMENT 221642 1 8 0 0 1 8 2061254 0 2061254 0 0 1 0 0 0 PART I, LINE 3: THE ACCRUAL METHOD IS USED TO ACCOUNT FOR EXPENDITURES. 1 X X X X 0 1 0 ERIC CAUBLE CHIEF OPERATING OFFICER 229851 0 40969 0 0 0 44579 0 38867 0 354266 0 0 0 DANTE DEGORI CHIEF EXECUTIVE OFFICER 233789 0 29867 0 22702 0 15933 0 22710 0 325001 0 0 0 CHRISTIE SEARLS CHIEF LEGAL OFFICER 191709 0 40078 0 0 0 37507 0 38914 0 308208 0 0 0 PAUL GRIMES CHIEF PROFESSIONALISM OFFICER 234817 0 37101 0 0 0 0 0 0 0 271918 0 0 0 AMY WISNIEWSKI DIRECTOR OF BUSINESS DEVELOPMENT-OPS 149238 0 15573 0 0 0 9245 0 20703 0 194759 0 0 0 DALIA EL-PRINCE DIRECTOR BUSINESS DEVELOPMENT-TECH 148483 0 15795 0 0 0 9891 0 4021 0 178190 0 0 0 NOEL MAYE CHIEF EXECUTIVE OFFICER (THRU 12/22) 171224 0 0 0 0 0 0 0 0 0 171224 0 0 0 TANYA DAHLEN DIRECTOR LEGAL SERVICES 134310 0 8863 0 0 0 8696 0 11304 0 163173 0 0 0 SARA WHITE DIRECTOR OF NETWORK ENGAGEMENT 130770 0 10925 0 0 0 7855 0 2380 0 151930 0 0 0 PART I, LINE 4B FPSB LTD. ESTABLISHED A SECTION 457(F) NON-QUALIFIED DEFERRED COMPENSATION PLAN FOR THE EXCLUSIVE BENEFIT OF CERTAIN EXECUTIVES. PER PARTICIPATION AGREEMENTS, CONTRIBUTIONS WERE DEPOSITED IN THE PLAN IN 2023. ACCOUNT BALANCES ARE SUBJECT TO RISK OF FORFEITURE BY PLAN PARTICIPANTS AND ARE AVAILABLE TO THE CREDITORS OF FPSB LTD. THE FOLLOWING INDIVIDUALS PARTICIPATED IN THE 457(F) NON-QUALIFIED DEFERRED COMPENSATION PLAN IN 2023, FOR WHICH THE EXPENSE WAS INCURRED BY THE SPONSORING ORGANIZATION, BUT THE FUNDS HAVE NOT VESTED OR BEEN PAID OUT TO THESE INDIVIDUALS. THE AMOUNTS LISTED BELOW ARE INCLUDED ON SCHEDULE J, PART II, COLUMN (C): ERIC CAUBLE, CHIEF OPERATING OFFICER - $30,000 CHRISTIE SEARLS, CHIEF LEGAL OFFICER - $25,000. FORM 990, PART VI, SECTION A, LINE 6 CLASS A MEMBERS - ALL PERSONS SERVING AS VOTING MEMBERS OF THE FPSB LTD. BOARD OF DIRECTORS SHALL BE CLASS A MEMBERS. CLASS B MEMBERS- ALL FPSB LTD. AFFILIATES AND THE UNITED STATES MARKS OWNER SHALL BE CLASS B MEMBERS. CLASS B MEMBERS SHALL SERVE IN AN ORGANIZATIONAL CAPACITY. EACH CLASS B MEMBER SHALL NOTIFY FPSB LTD. AS TO ITS APPOINTMENT OR CHANGE OF A MEMBER REPRESENTATIVE. FORM 990, PART VI, SECTION A, LINE 7B CLASS A MEMBERS - CLASS A MEMBERS SHALL EACH HAVE ONE VOTE ON ALL MATTERS SUBMITTED TO THE FPSB LTD. BOARD OF DIRECTORS FOR A VOTE. NO CLASS A MEMBER MAY AUTHORIZE ANOTHER PERSON OR PERSONS TO ACT FOR SUCH MEMBER BY PROXY. CLASS B MEMBERS - AS PROVIDED IN THE CERTIFICATE OF INCORPORATION, THE FPSB COUNCIL, THROUGH THE CLASS B MEMBERS, SHALL HAVE THE POWER TO VOTE ON THE FOLLOWING MATTERS: 1) CLASS B MEMBERS MAY VOTE TO REMOVE ALL VOTING MEMBERS OF THE BOARD OF DIRECTORS AND RECONSTITUTE THE BOARD AS SET FORTH IN ARTICLE 5 OF THE CERTIFICATE OF INCORPORATION. 2) AS PROVIDED IN THE CERTIFICATE OF INCORPORATION, CLASS B MEMBERS MAY VOTE TO RATIFY OR REJECT DECISIONS OF THE BOARD OF DIRECTORS ON MATTERS SET FORTH IN ARTICLE 4.19 OF THE BYLAWS AS FOLLOWS: (A) A MATERIAL AMENDMENT TO FPSB LTD.'S CERTIFICATE OF INCORPORATION OR THE BYLAWS; (B) A MATERIAL CHANGE IN THE MISSION STATEMENT OR COLLECTIVE FOCUS OF FPSB LTD., AS SET FORTH IN FPSB LTD.'S GOVERNANCE PROCESS AND MANAGEMENT LIMITATIONS POLICIES, POLICY 1.0 - KEY OBJECTIVES; (C) A MATERIAL CHANGE IN THE CFP CERTIFICATION REQUIREMENTS; (D) A MATERIAL CHANGE IN THE OWNERSHIP OF THE CFP TRADEMARKS; OR (E) THE CREATION OF A NEW GLOBAL CERTIFICATION. IN THESE MATTERS, EACH CLASS B MEMBER SHALL BE ENTITLED TO A NUMBER OF VOTES EQUAL TO ONE VOTE PER US $1,000.00 PAID IN AFFILIATION OR MEMBERSHIP FEES FOR THE CURRENT YEAR PURSUANT TO FPSB LTD.'S CURRENT FEE SCHEDULE FINANCIAL PLANNING STANDARDS BOARD LTD. 61-1448490 ("FEE CONTRIBUTION-WEIGHTED VOTING POWER"). THE VOTE OF A MAJORITY IN FEE CONTRIBUTION-WEIGHTED VOTING POWER OF THE CLASS B MEMBERS AND A MAJORITY OF THE TOTAL NUMBER OF CLASS B MEMBERS SHALL BE REQUIRED IN THESE MATTERS. FOR ALL PURPOSES HEREIN, A "MAJORITY" SHALL MEAN 50 PERCENT PLUS ONE. ONLY CLASS B MEMBERS THAT ARE CURRENT WITH THEIR FEE OBLIGATIONS AND SUBSTANTIALLY IN COMPLIANCE WITH FPSB LTD.'S GLOBAL STANDARDS TO FPSB LTD. AT THE TIME OF VOTING ARE ELIGIBLE TO VOTE. FORM 990, PART VI, SECTION A, LINE 8B THE ORGANIZATION DOES NOT HAVE ANY COMMITTEES WITH THE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS REVIEWED BY FPSB LTD.'S CEO. ONCE THE CEO HAS COMPLETED HIS REVIEW, FORM 990 IS SUBMITTED TO FPSB'S AUDIT COMMITTEE AND BOARD OF DIRECTORS FOR REVIEW. UPON THE COMPLETION OF THE AUDIT COMMITTEE AND BOARD OF DIRECTORS' REVIEW, THE RETURN IS APPROVED AND FILED. FORM 990, PART VI, SECTION B, LINE 12C INCOMING AND EXISTING BOARD MEMBERS AND OFFICERS ARE REQUIRED TO DISCLOSE INTERESTS THAT COULD GIVE RISE TO CONFLICTS, WHICH IS REVIEWED BY FPSB LTD.'S CHIEF LEGAL OFFICER AND CEO ANNUALLY. THE ORGANIZATION HAS POLICIES AND PROCEDURES IN PLACE THAT IMPOSE RESTRICTIONS ON PEOPLE WITH CONFLICTS. PRIOR TO EACH BOARD MEETING, MEMBERS ARE REQUIRED TO VERBALLY DISCLOSE INTERESTS BASED ON AGENDAS THAT COULD GIVE RISE TO CONFLICTS, WHICH ARE RECORDED IN THE BOARD MINUTES OF THE MEETING. IF CONFLICTS ARE DETERMINED, THE PERSON WITH THE CONFLICT MAY BE EXCLUDED FROM THE MEETING/DECISION BASED ON THE CONFLICT. FORM 990, PART VI, SECTION B, LINE 15A ANNUALLY, FPSB LTD.'S COMPENSATION AND SUCCESSION PLANNING COMMITTEE OBTAINS THIRD-PARTY RESEARCH ON NONPROFIT CEO COMPENSATION AND BENEFITS TO EVALUATE THE ORGANIZATION'S CEO COMPENSATION AND BONUS. IN ADDITION, THE COMMITTEE EVALUATES THE CEO'S PERFORMANCE AGAINST PRE-DEFINED METRICS, APPROVED BY THE FPSB LTD. BOARD OF DIRECTORS, AND WITH THE AUDIT COMMITTEE CHAIRPERSON, REVIEWS THE CEO'S PERFORMANCE CONCERNING ORGANIZATIONAL, FINANCIAL, AND RISK MANAGEMENT. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY AVAILABLE UPON REQUEST. THE ORGANIZATION PRESENTS A SUMMARY OF ITS FINANCIAL RESULTS AT ITS GLOBAL MEETING AND POSTS ON FPSB LTD.'S WEBSITE FOR MEMBER REVIEW. FORM 990, PART IX, LINE 11G PROFESSIONAL FEES: INDEPENDENT CONTRACTOR 303,741. PROFESSIONAL FEES: SPECIAL PROJECT 141,840. PROFESSIONAL FEES: OTHER 688,093. FORM 990, PART XI, LINE 9: ADJUSTMENT FOR FOREIGN SUBSIDIARY -54,390. FPSB INTITUTE INDIA PRIVATE LIMITED VEER NARIMAN ROAD FORT YUSUF BUILD MUMBAI CITY MAHARASHTRA IN 400001 PROMOTE FPSB PROGRAMS IN INDIA IN FINANCIAL PLANNING STANDARDS BOARD C 169906 67736 1.00000 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 FPSB INTITUTE INDIA PRIVATE LIMITED M 334288