Naf EIN 13-3480246

Naf

EIN  13-3480246 Public charity (501(c)(3)) New York, NY Founded 1988
Form 990 (PDF) Compare with another nonprofit →
Verified accurate 8/10/26 · see original filing: IRS
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Size
$10–100M
What they do
Partners with education, business, and community leaders to transform the high school experience through STEM-focused academies that prepare students for engineering and technical careers.
Leadership
Lisa Paulette Dughi · Chief Executive Officer · $453K
Money in and out
$20.6M revenue, $20.5M expenses
Bottom line
75% program efficiency

Partners with education, business, and community leaders to transform the high school experience through STEM-focused academies that prepare students for engineering and technical careers. For fiscal year 2024 it reported $20.6M in revenue, $20.5M in expenses, and $7.1M in net assets.Pt I

Where the money goes · FY2024
Total revenue
$20.6M
Pt VIII · Ln 12
Total expenses
$20.5M
Pt IX · Ln 25
Net assets
$7.1M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $101K
Where spending went · Part IX cols B–D
Program services $0.75 Management & general $0.16 Fundraising $0.09
Program efficiency
75%
of spending reaches programs▲ +4% vs prior filing year
Operating runway
3.6mo
months of highly liquid reserves at operating expense rate▲ +9% vs prior filing year
Surplus margin
0%
revenue over expenses, this year▲ +102% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$20.6M
FY2024▲ +1%
Expenses
$20.5M
FY2024▼ -19%
Total assets
$8.0M
FY2024▼ -18%
Total liabilities
$894K
FY2024▼ -68%
Total revenue
$20.6M
Pt VIII · Ln 12
Total expenses
$20.5M
Pt IX · Ln 25
Net assets
$7.1M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$101K
Total assetsPt X · Ln 16$8.0M
Program-expense ratioPt IX · col B75%
Voting members of governing bodyPt I · Ln 320
Independent voting membersPt I · Ln 420
Mission & Programs · Part III

Where the work happens

3 program services account for $7.2M of program spending, described in the organization's own filed words · FY2024.
01

The academy of finance, which operates 127 academies, connects high school students with the world of financial services and personal finance, offering a curriculum that covers banking and credit, financial planning, global finance securities, insurance, accounting, and economics.

$3.1Mprogram expense
02

The academy of information technology, which operates 87 academies, prepares students for career opportunities in computer networking, systems, database design, digital video production, graphic design, and programming.

$2.1Mprogram expense
03

The academy of science, technology, engineering & mathematics (stem) which operates 83 academies, answers an acute need for engineers in this country by educating high school students in the principles of engineering, providing content in the fields of electronics, biotech, aerospace, civil engineering, and architecture.

$2.0Mprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CNaf
EINHdr · item D13-3480246
Principal addressHdr · item CNew York, NY
WebsiteHdr · item Jwww.naf.org
Year of formationHdr · item L1988
State of legal domicileHdr · item MNY
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFEducation (B190)
Ruling yearIRS BMFFeb 1989

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a20
Independent voting membersPt VI · Ln 1b20
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2Yes

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Chief Executive Officer
$452,616Pt VII · Sec A
Chief Program Officer
$240,041Pt VII · Sec A
Chief Strategy Officer
$218,957Pt VII · Sec A
Chief Financial Officer/Treasurer
$217,283Pt VII · Sec A
Chief Advancement Officer
$200,236Pt VII · Sec A
People Operations & Talent Mgmt
$199,320Pt VII · Sec A
Curriculum & Work-Based Learning
$197,980Pt VII · Sec A
VP, Academy Engagement & Impact
$194,742Pt VII · Sec A

Lisa Paulette Dughi’s $453K as Chief Executive Officer is at the 85th percentile of top reported officer pay among 3682 $10–100M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Jondel Hoye$103,949$514,955$546,014
Lisa Dughi$534,683$483,634$339,983
Lisa Paulette Dughi$452,616$452,948
Brenda B Barry Chief$283,652
Colleen M Devery$218,957$269,363$279,724
Maryanne Bloomfield$266,021$274,773
Valaida Danielle Wynn$200,236$269,137
Craig W Love$217,283$265,884$265,069$259,042$170,939

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Statement of Revenue

Part VIII
Contributions & grants$18.2M · 88%
Program service revenue$2.4M · 12%
Contributions & grants88%$18.2M
Program service revenue12%$2.4M
Investment income$41K
Total revenueLn 12$20.6M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.75 Management & general $0.16 Fundraising $0.09
Program services75%$15.3M
Management & general16%$3.3M
Fundraising9%$1.9M
Total functional expensesLn 25$20.5M

Balance Sheet

Part X · end of year
CashLn 1$4.6M
Total assetsLn 16$8.0M
Total liabilitiesLn 26$894K
Total net assetsLn 32$7.1M
Months of cash on handcomputed2.7

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $6.1M · Operating expenses (Pt IX) $20.5M · Less non-cash grants $180K · Cash operating expenses/yr $20.3M
3.6 months
Where the money goes
Program services
Program services $15.3M · Total expenses $20.5M
75%
Management & General
Management & general $3.3M · Total expenses $20.5M
16%
Fundraising
Fundraising $1.9M · Total expenses $20.5M
9%
Cost to raise $1
Fundraising expense (3-yr avg) $2.5M · Solicited contributions (3-yr avg) $15.7M
$0.16 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $18.2M · Total revenue $20.6M
88%
Government reliance
Government grants — · Total revenue $20.6M
Earned-income share
Program service revenue $2.4M · Total revenue $20.6M
12%
Investment reliance
Investment income $41K · Total revenue $20.6M
0%
Program self-sufficiency
Program service revenue $2.4M · Total expenses $20.5M
12%
Growth & trend
Revenue growth (YoY)
This year $20.6M · Prior year $20.3M
+1%
Revenue CAGR
FY2020 $25.1M · FY2024 $20.6M
-5%
Net-asset trend (YoY)
End of year $7.1M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $20.6M · Expenses $20.5M
0%
Liabilities-to-Assets
Total liabilities — · Total assets $8.0M
Net-asset ratio
Net assets $7.1M · Total assets $8.0M
89%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $1.4M · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $8.0M
18%
People & payroll
Highest Reported Total Compensation
Individual Lisa Paulette Dughi · Reported title CHIEF EXECUTIVE OFFICER · Highest reported compensation $453K · Total expenses $20.5M
2%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $12.2M · Total expenses $20.5M
60%
Fundraising vendors
Fundraiser cost ratio
Paid to fundraisers $261K · Gross raised $1.3M
21%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 75%
Overhead ratio 16%
Fundraising cost ratio 10%
Revenue growth 1%
Legal fee ratio 0%
Accounting fee ratio 2%
Fundraising fee ratio 1%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2025
Total grants receivedfrom 2 funders$110K
Grants paid · 80 grants · $4.6M · 2020–2024
Ready CtCT · FY2024$150,000
Unitemized GrantFY2024$124,076
Milwaukee Board of School DirectorsFY2024$26,000
Unitemized GrantFY2024$24,000
Jackson Public SchoolFY2024$24,000
Scholarship America INCMN · FY2024$23,000
Unitemized GrantFY2024$16,350
Scott County School DistrictFY2024$12,000
Forest Municipal School DistrictFY2024$12,000
Compton Unified School DistrictFY2024$11,000
Charlotte Mecklenburg Board of EducationFY2024$10,000
Elvira M Coln Negrn Consejo EscolarFY2024$8,000
Middletown Extra Classroom Activity FundsFY2024$6,000
Unitemized GrantFY2024$5,000
See all 80 grants →

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$20.6M revenue · viewing · ⤓ 990 PDF
FY2023$20.3M revenue · ⤓ 990 PDF
FY2022$13.6M revenue · ⤓ 990 PDF
FY2021$18.8M revenue · ⤓ 990 PDF
FY2020$25.1M revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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