State Financial Officers Foundation Inc
Public records show a registered, tax-exempt organization in good standing.
What it says it does
To promote free market and free enterprise principles, educate both the public and state financial officers on the role of responsible financial management in a free market economy, and develop educational forums and communication plans among them.
- Income
- $2.9 million
- Spending
- $3.0 million
- Spent on programs
- 67%
- Reserves
- 2.9 months of spending
- Largest source of income
- donations and private grants, 97%
- Employees
- 9
- Highest pay
- $275,297, ceo
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Financial health
Fair: 68 out of 100. Higher than 50% of charities in its peer group (education, $1m to $10m).
Reserves
10 of 35Spendable reserves would cover 2.9 months of spending.
Debt
20 of 20It owes 0% of what it owns.
Living within its means
8 of 15Spending exceeded income by 4% of income.
Income trend
15 of 15Income rose 2% on the year before.
Spending floor
15 of 1567% of spending went to programs and raising each dollar of donations cost 17 cents.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Governance
Good: 85 out of 100. Higher than 47% of charities in its peer group (education, $1m to $10m).
Independent board
25 of 258 of 9 voting board members are independent.
Conflict of interest policy
15 of 15Has a written conflict of interest policy.
Whistleblower policy
8 of 8Has a written whistleblower policy.
Record keeping policy
7 of 7Has a written policy on keeping and destroying records.
Board minutes
5 of 5Keeps minutes of board meetings.
Board sees the tax return
10 of 10Gave the board a copy of this return before filing it.
Pay set independently
5 of 5Sets its chief executive's pay through independent review and comparison.
Independent check of accounts
0 of 15Its accounts were not audited or reviewed by an independent accountant.
No reported misuse
10 of 10Reports no diversion of assets, excess benefits or loans to insiders.
Source: Form 990 for the year ending December 31, 2024, 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 (3)
- $1.9 million spent. SFOF held two national conferences, which bring together state financial officers, leaders from the private sector, and academia for roundtable discussions and panels on a variety of financial and fiscal policy matters. SFOF's Center for Economic Freedom is an extension of SFOF's research and messaging capabilities, and fills a critical gap in the policy research space by compiling key information around ESG investing in public pensions and other taxpayer-funded investment vehicles. The Center for Economic Freedom's work is focused on three key areas: Researching ESG, promoting fiduciary responsibility, and driving transparency and accountability. In 2024, the Center is conducting research that will educate the public about the risks associated with ESG and what can be done to stop it.
- $64,047 spent. In 2024, SFOF launched the Public Fiduciary Network (PFN). The PFN exists to advance the values of free markets, limited government, and fiduciary duty to the thousands of public fiduciaries across the country. The PFN will recruit, organize, educate, and serve as a resource center for the thousands of public fiduciaries who manage and oversee public funds. The PFN will provide education, training, research, regional events, conferences, and recruitment services for these leaders.
- $23,833 spent. SFOF organizes, finances, and conducts the activities of its Smart Women Smart Money SWSM program. SWSM's mission is to provide financial education and empowerment to women throughout the United States by producing SWSM Magazine, an online maganize providing information and educational articles.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Legitimacy checks
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 October 13, 2026.
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 November 6, 2026.
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 October 13, 2026.
Is it keeping up with its IRS filings? Passed.
Most recent return on file covers the year ending December 2024.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
How long has it been tax-exempt? Passed.
Recognized by the IRS since November 2015.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
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 November 4, 2026.
Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.