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American Finance Association

EIN 13-6111495 · Bethlehem, PA

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthStrong100 out of 100GovernanceStrong92 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

THE ORGANIZATION'S MISSION IS TO IMPROVE PUBLIC UNDERSTANDING OF FINANCIAL PROBLEMS AND PROMOTE FINANCE SCHOLARSHIP. THE ORGANIZATION IS DEVOTED TO THE STUDY AND PROMOTION OF KNOWLEDGE ABOUT FINANCIAL ECONOMICS.

Income
$4.2 million
Spending
$2.7 million
Spent on programs
94%
Reserves
Over 10 years of spending
Largest source of income
investment income, 59%
Employees
4
Volunteers
33
Highest pay
$130,000, secretary/tr

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Strong: 100 out of 100. Higher than 86% of charities in its peer group (public benefit, $1m to $10m).

  • Reserves

    35 of 35

    Spendable reserves would cover more than ten years of spending.

  • Debt

    20 of 20

    It owes 6% of what it owns.

  • Living within its means

    15 of 15

    Income exceeded spending by 37% of income.

  • Income trend

    15 of 15

    Income rose 136% on the year before.

  • Spending floor

    15 of 15

    94% of spending went to programs and raising each dollar of donations cost 1 cents.

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Strong: 92 out of 100. Higher than 56% of charities in its peer group (public benefit, $1m to $10m).

  • Independent board

    25 of 25

    15 of 17 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    0 of 8

    Reports no written whistleblower policy.

  • Record keeping policy

    7 of 7

    Has a written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • Pay set independently

    5 of 5

    Sets its chief executive's pay through independent review and comparison.

  • Independent check of accounts

    15 of 15

    Its accounts were audited by an independent accountant.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (5)
  1. $2.0 million spent. JOURNAL OF FINANCE THROUGH A PARTNERSHIP WITH WILEY PUBLISHING, THE ORGANIZATION PUBLISHES THE JOURNAL OF FINANCE, A PERIODICAL CONTAINING LEADING RESEARCH ACROSS ALL THE MAJOR FIELDS OF FINANCE. THE JOURNAL IS THE MOST WIDELY CITED ACADEMIC JOURNAL ON FINANCE. IT IS PUBLISHED SIX TIMES PER YEAR AND EACH ISSUE REACHES OVER 8,000 ACADEMICS, FINANCIAL PROFESSIONALS, LIBRARIES, GOVERNMENTS, AND FINANCIAL INSTITUTIONS AROUND THE WORLD.
  2. $363,293 spent. ANNUAL MEETING THE ORGANIZATION SPONSORS AN ANNUAL MEETING EACH JANUARY AT WHICH PAPERS ARE PRESENTED, COVERING THE GAMUT OF FINANCIAL TOPICS. THE ORGANIZATION'S CURRENT PRESIDENT ALSO SPEAKS ON A CHOSEN SUBJECT.
  3. $121,717 spent. WOMEN'S INITIATIVE AFFECT (THE ACADEMIC FEMALE FINANCE COMMITTEE) OF THE ORGANIZATION WAS FORMED TO PROMOTE THE ADVANCEMENT OF WOMEN ACADEMICS IN THE FIELD OF FINANCE. WITHIN THE ACADEMIC FIELD OF FINANCE, AFFECT STRIVES TO: -PROMOTE GENDER EQUALITY -FACILITATE NETWORKING AMONG WOMEN -CONDUCT RESEARCH ON THE STANDING OF WOMEN AND FACTORS RELATED TO DIFFERENCES IN CAREER PATHS OF MEN AND WOMEN -PROVIDE MENTORING OF WOMEN
  4. $44,913 spent. OTHER PROGRAMS OTHER PROGRAMS OF THE ORGANIZATION INCLUDE AN ETHICS COMMITTEE, WHICH HAS PROMOTED THE ESTABLISHMENT OF AN AMERICAN FINANCE ASSOCIATION OMBUDSPERSON TO HELP ADDRESS ANY VIOLATION OF THE ORGANIZATION'S CODE OF PROFESSIONAL CONDUCT OF ETHICS. THE OMBUDSPERSON ALSO PROVIDES INFORMAL, CONFIDENTIAL ASSISTANCE TO MEMBERS WHO NEED ADVICE ABOUT WORK-RELATED ETHICAL ISSUES SUCH AS DISCRIMINATION OR HARASSMENT.
  5. OTHER PROGRAMS OTHER PROGRAMS OF THE ORGANIZATION INCLUDE AN ETHICS COMMITTEE, WHICH HAS PROMOTED THE ESTABLISHMENT OF AN AMERICAN FINANCE ASSOCIATION OMBUDSPERSON TO HELP ADDRESS ANY VIOLATION OF THE ORGANIZATION'S CODE OF PROFESSIONAL CONDUCT OF ETHICS. THE OMBUDSPERSON ALSO PROVIDES INFORMAL, CONFIDENTIAL ASSISTANCE TO MEMBERS WHO NEED ADVICE ABOUT WORK-RELATED ETHICAL ISSUES SUCH AS DISCRIMINATION OR HARASSMENT.

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated September 30, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated September 10, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending June 2025.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since February 1954.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 7, 2026.

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