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HistoryIt was in February 1961 that the first steps were taken to establish a nationwide association for financial executives of the broadcasting industry. Following a series of organizational meetings, IBFM (Institute of Broadcasting Financial Management) was formally incorporated on May 26, 1961, as a 501(c)(6) nonprofit organization under the laws of the District of Columbia. From the beginning, the activities of Association have been guided by a set of objectives and purposes that effectively reflect the goals to be achieved:
On May 15, 2008, the BCFM Membership voted to change the name of the organization to Media Financial Management Association (MFM). In July 2008 the District of Columbia and State of Illinois granted permission for the organization's request. Transition of the organization to use of the new name was completed in August 2008. In August 2009, an agreement was reached between INFE (Interactive and Newsmedia Financial Executives) and MFM (Media Financial Management Association) that will combine the organizations into one under MFM's leadership. With the ongoing convergence of media, we believe this will provide a very powerful, collaborative, and educational base to our members. Membership presently approximates 1,200 - 10% of which are Associate members. MFM provides year-round education and networking opportunities to television, radio, cable, newspaper, print, digital, and out-of -home individuals and businesses from the 50 states, the District of Columbia, as well as Canada, Europe, Asia and Puerto Rico.
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