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THE MISSION OF THE FINANCIAL ACCOUNTING FOUNDATION (FAF) IS TO ESTABLISH AND IMPROVE FINANCIAL ACCOUNTING AND REPORTING STANDARDS, TO PROVIDE USEFUL INFORMATION TO INVESTORS AND OTHER USERS OF FINANCIAL REPORTS AND TO EDUCATE STAKEHOLDERS ON HOW TO MOST EFFECTIVELY UNDERSTAND AND IMPLEMENT THOSE STANDARDS. THE FAF, ORGANIZED IN 1972, IS THE INDEPENDENT, PRIVATE-SECTOR ORGANIZATION RESPONSIBLE FOR THE OVERSIGHT, ADMINISTRATION, FINANCING AND APPOINTMENT OF THE FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) AND THE GOVERNMENTAL ACCOUNTING STANDARDS BOARD (GASB), WHICH WERE ESTABLISHED TO PERFORM DISTINCT FUNCTIONS IN THE PROCESS OF ESTABLISHING AND IMPROVING FINANCIAL ACCOUNTING AND REPORTING STANDARDS.
Source: IRS Form 990 (Tax Year 2023)
Source: IRS e-Filed Form 990 (from the IRS e-File system), Tax Year 2023
Total Revenue
▼$80.8M
Program Spending
80%
of total expenses go to program services
Total Contributions
$0
Total Expenses
▼$70.1M
Total Assets
$145.7M
Total Liabilities
▼$38.6M
Net Assets
$107M
Officer Compensation
→$7M
Other Salaries
$33.9M
Investment Income
$2.6M
Fundraising
▼N/A
Source: USAspending.gov
No federal awards found for this organization.
USAspending.gov tracks federal grants, cooperative agreements, and other financial assistance. Not all nonprofits receive federal funding.
Source: Federal Audit Clearinghouse (fac.gov)
No federal single audit records found for this organization.
Single audits are required for entities expending $750,000+ in federal awards annually.
Tax Year 2023 · Source: IRS e-Filed Form 990Schedule J available
Individuals serving as officers, directors, or trustees of the organization.
| Name | Title | Hrs/Wk | Compensation | Related Orgs | Other |
|---|
Source: IRS Publication 78, Auto-Revocation List & e-Postcard Data
Tax-deductible contributions: Yes
Deductibility code: PC
Sources: IRS e-Filed Form 990 (XML) & ProPublica Nonprofit Explorer
Scroll →
| Year | Revenue | Contributions | Expenses | Assets | Net Assets |
|---|---|---|---|---|---|
| 2023IRS e-File | $80.8M | $0 | $70.1M | $145.7M | $107M |
| 2022 | $75.6M | $0 | $63.9M | $140.6M | $94.3M |
| 2021 | $61.7M | $0 | $56.7M | $106M | $83.6M |
| 2020 | $60.7M | $0 | $55.9M |
Sources: ProPublica Nonprofit Explorer & IRS e-File Index
| Tax Year | Form Type | Source | Documents |
|---|---|---|---|
| 2024 | 990 | IRS e-File | PDF not yet published by IRSView Filing → |
| 2023 | 990 | DataIRS e-File | PDF not yet published by IRSView Filing → |
| 2022 | 990 | DataIRS e-File |
Financial data: IRS e-Filed Form 990 (Tax Year 2023)
Leadership & compensation: IRS e-Filed Form 990, Part VII (Tax Year 2023)
Organization info: IRS Business Master File
Tax-deductibility: IRS Publication 78
| Total |
|---|
| James L Kroeker | Vice Chair | 40 | $1.1M | $0 | $86.7K | $1.2M |
| John W Auchincloss | Executive Director | 40 | $734.9K | $0 | $77.8K | $812.8K |
| Mary P Crotty | Vp/chief Operating Officer | 40 | $573.4K | $0 | $78.6K | $652.1K |
| Steven A Hobbs | Vp-general Counsel | 40 | $521.2K | $0 | $77.8K | $599K |
| Edward Bernard | Chair | 15 | $200K | $0 | $0 | $200K |
James L Kroeker
Vice Chair
$1.2M
Hrs/Wk
40
Compensation
$1.1M
Related Orgs
$0
Other
$86.7K
John W Auchincloss
Executive Director
$812.8K
Hrs/Wk
40
Compensation
$734.9K
Related Orgs
$0
Other
$77.8K
Mary P Crotty
Vp/chief Operating Officer
$652.1K
Hrs/Wk
40
Compensation
$573.4K
Related Orgs
$0
Other
$78.6K
Steven A Hobbs
Vp-general Counsel
$599K
Hrs/Wk
40
Compensation
$521.2K
Related Orgs
$0
Other
$77.8K
Edward Bernard
Chair
$200K
Hrs/Wk
15
Compensation
$200K
Related Orgs
$0
Other
$0
Highest compensated employees who are not officers or directors.
| Name | Title | Hrs/Wk | Compensation | Related Orgs | Other | Total |
|---|---|---|---|---|---|---|
| Richard R Jones | Chair, Fasb | 40 | $1.3M | $0 | $85.7K | $1.4M |
| Frederick L Cannon | Fasb Member | 40 | $1M | $0 | $82.3K | $1.1M |
| Christine Ann Botosan | Fasb Member | 40 | $1M | $0 | $87.9K |
Richard R Jones
Chair, Fasb
$1.4M
Hrs/Wk
40
Compensation
$1.3M
Related Orgs
$0
Other
$85.7K
Frederick L Cannon
Fasb Member
$1.1M
Hrs/Wk
40
Compensation
$1M
Related Orgs
$0
Other
$82.3K
Christine Ann Botosan
Fasb Member
$1.1M
Hrs/Wk
40
Compensation
$1M
Related Orgs
$0
Other
$87.9K
Members of the governing board. Board members often serve without compensation.
| Name | Title | Hrs/Wk | Compensation | Related Orgs | Other | Total |
|---|---|---|---|---|---|---|
| Bruce T Herring | Trustee | 3 | $97K | $0 | $0 | $97K |
| David H Lillard Jr | Trustee | 4 | $97K | $0 | $0 | $97K |
| Diane C Nordin | Trustee | 3 | $80K | $0 | $0 | $80K |
| Edward J Goldthorpe | Trustee | 3 | $80K | $0 | $0 | $80K |
| Lawrence Salva | Trustee | 4 | $97K | $0 | $0 | $97K |
| Lynnette Kelly | Trustee |
Bruce T Herring
Trustee
$97K
Hrs/Wk
3
Compensation
$97K
Related Orgs
$0
Other
$0
David H Lillard Jr
Trustee
$97K
Hrs/Wk
4
Compensation
$97K
Related Orgs
$0
Other
$0
Diane C Nordin
Trustee
$80K
Hrs/Wk
3
Compensation
$80K
Related Orgs
$0
Other
$0
| $98.4M |
| $79.8M |
| 2019 | $58.3M | $0 | $56M | $91.7M | $73.4M |
| 2018 | $56.7M | $0 | $52.1M | $89.1M | $70.1M |
| 2017 | $54.3M | $0 | $55.5M | $80.9M | $65.9M |
| 2016 | $50.6M | $0 | $55.8M | $81.5M | $64.5M |
| 2015 | $49.3M | $0 | $54.3M | $86.6M | $69.4M |
| 2014 | $48.6M | $0 | $53M | $93.2M | $74.1M |
| 2013 | $53.8M | $0 | $49.9M | $99.1M | $83.8M |
| 2012 | $52.5M | $0 | $45.1M | $91.1M | $75.7M |
| 2011 | $46.3M | $1.2M | $43.9M | $82.3M | $68M |
PDF not yet published by IRSView Filing → |
| 2021 | 990 | Data |
| 2020 | 990 | Data |
| 2019 | 990 | Data |
| 2018 | 990 | Data |
| 2017 | 990 | Data |
| 2016 | 990 | Data |
| 2015 | 990 | Data |
| 2014 | 990 | Data |
| 2013 | 990 | Data |
| 2012 | 990 | Data |
| 2011 | 990 | Data |
| 2010 | 990 | — |
| 2009 | 990 | — |
| 2008 | 990 | — |
| 2007 | 990 | — |
| 2006 | 990 | — |
| 2005 | 990 | — |
| 2004 | 990 | — |
| 2003 | 990 | — |
| 2002 | 990 | — |
| 2001 | 990 | — |
| $1.1M |
| Marsha L Hunt | Fasb Member | 40 | $1M | $0 | $68.1K | $1.1M |
| Susan M Cosper | Fasb Member | 40 | $982.1K | $0 | $87.9K | $1.1M |
| Joel Black | Chair, Gasb | 40 | $778.8K | $0 | $79K | $857.8K |
| Joyce Joseph | Fasb Member (appointed 7/1/2023) | 40 | $673.4K | $0 | $59.8K | $733.1K |
Marsha L Hunt
Fasb Member
$1.1M
Hrs/Wk
40
Compensation
$1M
Related Orgs
$0
Other
$68.1K
Susan M Cosper
Fasb Member
$1.1M
Hrs/Wk
40
Compensation
$982.1K
Related Orgs
$0
Other
$87.9K
Joel Black
Chair, Gasb
$857.8K
Hrs/Wk
40
Compensation
$778.8K
Related Orgs
$0
Other
$79K
Joyce Joseph
Fasb Member (appointed 7/1/2023)
$733.1K
Hrs/Wk
40
Compensation
$673.4K
Related Orgs
$0
Other
$59.8K
| 3 |
| $97K |
| $0 |
| $0 |
| $97K |
| Manju Ganeriwala | Trustee | 3 | $80K | $0 | $0 | $80K |
| Marion Gee | Trustee | 3 | $80K | $0 | $0 | $80K |
| Mary E Barth | Trustee | 4 | $97K | $0 | $0 | $97K |
| Michael T Rollings | Trustee | 3 | $0 | $0 | $0 | $0 |
| Richard N Reisig | Trustee | 3 | $80K | $0 | $0 | $80K |
| Robin L Washington | Trustee | 3 | $80K | $0 | $0 | $80K |
| Sarah E Smith | Trustee | 3 | $80K | $0 | $0 | $80K |
| Shundrawn A Thomas | Trustee | 3 | $80K | $0 | $0 | $80K |
| Timothy F Ryan | Trustee | 3 | $0 | $0 | $0 | $0 |
| Timothy L Christen | Trustee | 3 | $80K | $0 | $0 | $80K |
| W Bryan Lewis | Trustee | 3 | $80K | $0 | $0 | $80K |
Edward J Goldthorpe
Trustee
$80K
Hrs/Wk
3
Compensation
$80K
Related Orgs
$0
Other
$0
Lawrence Salva
Trustee
$97K
Hrs/Wk
4
Compensation
$97K
Related Orgs
$0
Other
$0
Lynnette Kelly
Trustee
$97K
Hrs/Wk
3
Compensation
$97K
Related Orgs
$0
Other
$0
Manju Ganeriwala
Trustee
$80K
Hrs/Wk
3
Compensation
$80K
Related Orgs
$0
Other
$0
Marion Gee
Trustee
$80K
Hrs/Wk
3
Compensation
$80K
Related Orgs
$0
Other
$0
Mary E Barth
Trustee
$97K
Hrs/Wk
4
Compensation
$97K
Related Orgs
$0
Other
$0
Michael T Rollings
Trustee
$0
Hrs/Wk
3
Compensation
$0
Related Orgs
$0
Other
$0
Richard N Reisig
Trustee
$80K
Hrs/Wk
3
Compensation
$80K
Related Orgs
$0
Other
$0
Robin L Washington
Trustee
$80K
Hrs/Wk
3
Compensation
$80K
Related Orgs
$0
Other
$0
Sarah E Smith
Trustee
$80K
Hrs/Wk
3
Compensation
$80K
Related Orgs
$0
Other
$0
Shundrawn A Thomas
Trustee
$80K
Hrs/Wk
3
Compensation
$80K
Related Orgs
$0
Other
$0
Timothy F Ryan
Trustee
$0
Hrs/Wk
3
Compensation
$0
Related Orgs
$0
Other
$0
Timothy L Christen
Trustee
$80K
Hrs/Wk
3
Compensation
$80K
Related Orgs
$0
Other
$0
W Bryan Lewis
Trustee
$80K
Hrs/Wk
3
Compensation
$80K
Related Orgs
$0
Other
$0