Napfa Consumer Education Foundation FY2023 filing

Tax-deductible

Chicago, IL501(c)(3)Since 2004EducationEIN 20-2025908Revenue $64K in FY2023

On file with the IRSnapfafoundation.org8700 W Bryn Mawr Ave Ste 700n, 60631-3503 · Chicago, ILTax-exempt since Feb 2006Publicly supported charity — 170(b)(1)(A)(vi)

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Educate consumers about basic financial matters and to help them identify financial services that are in their best interest. Ncef's goal is to enable consumers across the country to become confident and proactive about the full range of financial issues they face.

501(c)(3) charity; gifts are tax-deductible.
35¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 4
filings with a surplus
Average surplus $76K a year · 43% of revenue · last 4 filings
Fine: a surplus in 3 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
35%
of spending
Concern: 35% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
29 mo
of spending, in cash
Looks good: 29.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
3
named funders · $34K
Looks good: 3 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$17K
5% of total assets
Looks good: liabilities are 5% of assets; 50% or less.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$64K
-69% vs prior year
Spent
$87K
To programs
35%
Net assets
$334K
By yearFY2020–FY2025
Revenue
$64K
FY2023▼ -69%
Tap a bar for its year
Revenue by fiscal year
FY2020$98K
FY2021$77K
FY2022$205K
FY2023$64K
FY2024$235K
FY2025$199K
Expenses
$87K
FY2023▲ +92%
Tap a bar for its year
Expenses by fiscal year
FY2020Not on file
FY2021Not on file
FY2022$45K
FY2023$87K
FY2024$109K
FY2025$158K
Net assets
$334K
FY2023▼ -7%
Tap a bar for its year
Net assets by fiscal year
FY2020$193K
FY2021$214K
FY2022$359K
FY2023$334K
FY2024$511K
FY2025$579K

From the FY2023 Form 990 (year ending August 2023) · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Feb 2006.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

35 cents of each dollar spent went to programs.

Program services 35% · $30K Management & general 49% · $43K Fundraising 16% · $14K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

9 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
Secretary/Treasurer
$0Pt VII · Sec A
Trustee/Executive Committe
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Robert Harkey’s $42K as Program Officer is at the 33rd percentile of top reported officer pay among 1613 $100K–1M 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 · 1 named individual · Part VII

NameFY2021FY2020
Robert Harkey$42,424$40,798

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.

See Napfa Consumer Education Foundation executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Educates consumers on financial matters and helps them find suitable services.

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Provided by the organization

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1 program · $30K · in their own filed words · FY2022
01

Web site "turning americans into confident and proactive financial decision makers" assists consumers with financial decisions and major life transactions. Consumers are able to select the transition in their life that is relevant to their current situations and immediately learn more about financial tasks inherent with that transition.

$30Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 3 funders$34K
See all 3 funders →

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$64K
Ln 12
Gifts and grantsLn 1h$59K
Investment incomeLn 3$5K
Other incomeLn 4–11$34
Money outPt IX
$87K
Ln 25
Programscol B$30K
Managementcol C$43K
Fundraisingcol D$14K
Owns and owesPt X
$334K
net assets · Ln 32
Cash and savingsLn 1–2$210K
Total assetsLn 16$351K
LiabilitiesLn 26$17K
PeoplePt VI, VII
9
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$59K
Investment incomeLn 3$5K
Other incomeLn 4–11$34
Gains on assetsLn 7$239
Total revenueLn 12$64K
Assets in detailPt X, end of year
CashLn 1$210K
Cash and savings togetherLn 1–2$210K
InvestmentsLn 11–13$141K
Other assetsLn 15$0
Total assetsLn 16$351K
LiabilitiesLn 26$17K
Net assetsLn 32$334K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderAugust
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$221K$210K
InvestmentsLn 11–13$136K$141K
Total assetsLn 16$359K$351K
LiabilitiesLn 26$0$17K
Net assetsLn 32$359K$334K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$1K$1K
Other salaries and wagesLn 7$57K$23K$23K$11K
Pension plan contributionsLn 8$486$194$194$98
Other employee benefitsLn 9$50$20$20$10
Payroll taxesLn 10$5K$2K$2K$989
Legal feesLn 11b$2K$2K
Other fees for servicesLn 11g$375$375
Office expensesLn 13$4K$1K$1K$746
Information technologyLn 14$2K$655$655$328
TravelLn 17$1K$1K
Conferences, conventions and meetingsLn 19$700$700
Other expenses (24a–d)Ln 24$15K$500$14K
Total functional expensesLn 25$87K$30K$43K$14K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $199K$158K$42K$579K 990 PDF
FY2024 $235K$109K$126K$511K 990 PDF
FY2023 Viewing $64K$87K−$23K$334K 990 PDF
FY2022 $205K$45K$160K$359K 990 PDF
FY2021 $77K$214K 990 PDF
FY2020 $98K$193K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2023 990 (6 parts)
Part I · Summary $63,547 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $200,942$58,637
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $4,157$4,876
I-11 Other revenuePrior year $0$34
I-12 Total revenuePrior year $205,099$63,547
I-13 Grants and similar amounts paidPrior year $3,533$1,100
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $27,816$62,233
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $14,027$23,691
I-18 Total expensesPrior year $45,376$87,024
I-19 Revenue less expensesPrior year $159,723−$23,477
Part VI · Governance 9 of 9 board members independent, 1 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $63,547 across 6 lines filed
VIII-1f All other contributions, gifts and grants$58,637
VIII-1h Total contributions, gifts and grants$58,637
VIII-3 Investment incomeExcluded from tax $4,637$4,637
VIII-7 Net gain or loss on sales of assetsExcluded from tax $239$239
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $34$34
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $4,910$63,547
Part IX · Statement of functional expenses $87,024 across 12 lines filed
IX-2 Grants to domestic individualsPrograms $1,100$1,100
IX-7 Other salaries and wagesPrograms $22,700 · Management $22,700 · Fundraising $11,350$56,750
IX-8 Pension plan contributionsPrograms $194 · Management $194 · Fundraising $98$486
IX-9 Other employee benefitsPrograms $20 · Management $20 · Fundraising $10$50
IX-10 Payroll taxesPrograms $1,979 · Management $1,979 · Fundraising $989$4,947
IX-11b Legal feesManagement $1,597$1,597
IX-11g Other fees for servicesManagement $375$375
IX-13 Office expensesPrograms $1,490 · Management $1,490 · Fundraising $746$3,726
IX-14 Information technologyPrograms $655 · Management $655 · Fundraising $328$1,638
IX-17 TravelPrograms $1,123$1,123
IX-19 Conferences, conventions and meetingsPrograms $700$700
IX-24 Other expenses (24a–d)Programs $500 · Management $14,032$14,532
IX-25 Total functional expensesPrograms $30,461 · Management $43,042 · Fundraising $13,521$87,024
Part X · Balance sheet $351,365 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $220,584$210,122
X-11 Publicly traded securitiesStart of year $136,470$141,243
X-15 Other assetsStart of year $1,981$0
X-16 Total assetsStart of year $359,035$351,365
X-25 Other liabilitiesStart of year $0$17,480
X-26 Total liabilitiesStart of year $0$17,480
X-27 Net assets without donor restrictionsStart of year $359,035$333,885
X-32 Total net assets or fund balancesStart of year $359,035$333,885
X-33 Total liabilities and net assetsStart of year $359,035$351,365
Part XI · Reconciliation of net assets $333,885 net assets at year end
XI-1 Total revenue$63,547
XI-2 Total expenses$87,024
XI-3 Revenue less expenses−$23,477
XI-4 Net assets at start of year$359,035
XI-5 Net unrealized gains (losses) on investments−$1,673
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$333,885

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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