Overview

What is MFM (Media Financial Management Association)?

The Media Financial Management Association (MFM), formerly Broadcast Cable Financial Management Association (BCFM), is a not-for-profit professional association dedicated to the unique interests and needs of business and finance executives in the media industry. Founded in 1961, MFM (formerly BCFM) membership is open to all industry business professionals. In addition, MFM welcomes associate members from allied fields who provide products and services to the media industry including accounting; auditing; software; consulting; brokerage; law; tax; and other related disciplines. The Association’s approximately 1,200 active members represent the top financial, general management, IT, internal audit, human resources, and other media management personnel from major television networks, network affiliates and independents, radio stations, cable programming networks, streaming, games, cable MVPD, digital, out-of-home, outdoor, and newspaper/print outlets throughout the U.S., Canada and countries internationally.

The Association is governed by its Board of Directors, 23 in number, including an Executive Committee of five. Six Directors are elected annually by the voting membership to serve a three-year term. The Board, in turn, elects its Executive Committee, consisting of the Chairman, President, Vice-Chairman, Secretary, and Treasurer.

Standing committees and ad hoc committees function in specialized areas in which the Association has interest and involvement. Overall administration is under the supervision of the President & CEO, reporting directly to the Executive Committee and Board of Directors. MFM's staff, which consists of a Director of Operations, Administrative Coordinator, Membership Manager, Director of Sales and the President & CEO, operate the office located in Northfield, Illinois.

The Role MFM Members Play in Media, Finance, Credit and Human Resource Matters

These professional people are involved on a day-to-day basis in such activities as general management, money management, policy level finance, management information systems, credit supervision, accounting procedures, human resource administration, and the myriad details of business operations which increase in complexity as media interests continue to expand.

Additionally, as the managerial aspects of media become more complex, the function of these financial executives is changing perceptibly. Today, their professional activities include not only business management per se, but also liaison with government agencies and political bodies, other broadcasters and operators, clients and advertising agencies, sales representatives, and media-buying groups. MFM members and Executive Staff work very closely with other industry groups, such as AAAA, ANA, VAB, TvB, RAB, SRA, NAB, NAA, IAB, NCTA, CTAM, BEA, AICPA, and FASB.

And by necessity, the majority of members are involved in such decision and judgment areas as:

On-going relationships with the Federal Communications Commission
Latest developments in IS, Cable TV, digital and other technologies
Cash management
Independent Contractor litigation
NLRB
Insurance and pension plans
Purchasing
Tax regulations - Local, State and Federal
Legal affairs
Licensing fees
Unclaimed Property
Revenue Recognition
Costing and amortization practices
Realistic operating procedures for increased efficiency and improved profits
Human resource matters

Contributions or gifts to MFM are not deductible as charitable contributions for federal income tax purposes. However, dues payments are deductible by members an ordinary and necessary business expense. Zero percent (0%) of MFM dues are used for lobbying.