Nassco INC FY2024 filing

Frederick, MD501(c)(6)Since 2002EIN 36-4508786

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Promotion of the sewer service industry.

92¢ of each $1 spent went to programs.
$313K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(6)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average surplus $66K a year · 2% of revenue · last 5 filings
Worth a look: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
92%
of spending
Looks good: 92% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$313K
to officers and key staff · 5% of spending
Looks good: pay to officers and key staff is 5% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
1 mo
of spending, in cash
Fine: 1.0 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$1.6M
38% of total assets
Looks good: liabilities are 38% 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
$5.9M
+20% vs prior year
Spent
$6.2M
To programs
92%
Net assets
$2.5M
By yearFY2020–FY2024
Revenue
$5.9M
FY2024▲ +20%
Revenue by fiscal year
FY2020$2.4M
FY2021$2.3M
FY2022$4.7M
FY2023$4.9M
FY2024$5.9M
FY2024$8.1M
Expenses
$6.2M
FY2024▲ +22%
Expenses by fiscal year
FY2020$2.5M
FY2021$2.2M
FY2022$3.9M
FY2023$5.1M
FY2024$6.2M
FY2024$7.7M
Net assets
$2.5M
FY2024▼ -9%
Net assets by fiscal year
FY2020$2.1M
FY2021$2.3M
FY2022$2.9M
FY2023$2.8M
FY2024$2.5M
FY2024$3.0M

From the FY2024 Form 990 (year ending June 2024) · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in 0000.

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

Where the money goes

92 cents of each dollar spent went to programs.

Program services 92% · $5.7M Management & general 7% · $463K Fundraising 1% · $64K

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

11 people listed on the 990; $313K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Executive Dir.
$200,832Pt VII · Sec A
Program Manager
$111,846Pt VII · Sec A
President
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
Secretary/Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 5 named individuals · Part VII

NameFY2024FY2024FY2023FY2022FY2021FY2020
Sheila Joy$202,084$200,832————
Sheila Joy——$191,087$181,082$176,736$181,756
Dennis Pivin$180,188—————
Laurie Perkins$168,269—————
Heather Myers$119,359$111,846————

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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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 15aYes

Programs and updates

Promotes the sewer service industry through education and advocacy.

Provided by the organization

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1 program service, described in the organization's own filed words · FY2023.
01

Promote public awareness and acceptance of sewer service industry issues, develop certification programs, formulate industry specifications and guidelines.

Pt IX · col B

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Funders

Who pays for it.

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

Grants

Schedule I · this organization's grantmaking
Grants paid · 15 grants · $201K · 2019–2024
Unitemized GrantFY2024$10,000
Unitemized GrantFY2023$10,000
Unitemized GrantFY2022$5,000
Unitemized GrantFY2022$5,000
Unitemized GrantFY2021$10,000
Unitemized GrantFY2021$5,000
Skills USA INCVA · FY2020$50,000
Unitemized GrantFY2020$10,000
Virginia Tech Foundation INC Engineering ProgramFY2020$5,000
Unitemized GrantFY2020$4,865
Skills USA INCVA · FY2019$50,000
Unitemized GrantFY2019$25,000
Unitemized GrantFY2019$4,735
Unitemized GrantFY2019$905

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$5.9M
Ln 12
Fees for servicesLn 2g$5.8M
Other incomeLn 4–11$73K
Gifts and grantsLn 1h$60K
Money outPt IX
$6.2M
Ln 25
Programscol B$5.7M
Managementcol C$463K
Fundraisingcol D$64K
Owns and owesPt X
$2.5M
net assets · Ln 32
Cash and savingsLn 1–2$520K
Total assetsLn 16$4.1M
LiabilitiesLn 26$1.6M
PeoplePt VI, VII
11
listed · VII A
PaidVII A2
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$60K
Fees for servicesLn 2g$5.8M
Investment incomeLn 3$49K
Other incomeLn 4–11$73K
Gains on assetsLn 7$0
Total revenueLn 12$5.9M
Assets in detailPt X, end of year
CashLn 1$431K
SavingsLn 2$90K
Cash and savings togetherLn 1–2$520K
InvestmentsLn 11–13$1.4M
Land, buildings, equipmentLn 10c$12K
Other assetsLn 15$551K
Total assetsLn 16$4.1M
LiabilitiesLn 26$1.6M
Net assetsLn 32$2.5M
OperationsPt I, VI
EmployeesI 511
VolunteersI 69
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$2.4M$520K
InvestmentsLn 11–13$1.4M
Land, buildings, equipmentLn 10c$78K$12K
Total assetsLn 16$4.4M$4.1M
LiabilitiesLn 26$1.6M$1.6M
Net assetsLn 32$2.8M$2.5M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$1K$1K
Grants to domestic individualsLn 2$10K$10K
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$217K$166K$41K$11K
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$573K$437K$107K$29K
Pension plan contributionsLn 8$14K$8K$5K$516
Other employee benefitsLn 9$43K$24K$17K$2K
Payroll taxesLn 10$56K$43K$10K$3K
Management feesLn 11a$0
Legal feesLn 11b$137K$77K$61K
Accounting feesLn 11c$154K$121K$34K
Lobbying feesLn 11d$44K$37K$7K
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$13K$13K
Other fees for servicesLn 11g$301K$255K$45K
Advertising and promotionLn 12$97K$78K$19K
Office expensesLn 13$37K$11K$26K$81
Information technologyLn 14$172K$146K$26K
RoyaltiesLn 15$0
OccupancyLn 16$76K$57K$19K
TravelLn 17$663$663
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$58K$58K
InterestLn 20$0
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$66K$53K$13K
InsuranceLn 23$18K$14K$4K
Other expenses (24a–d)Ln 24$4.0M$4.0M$14K
All other expensesLn 24e$121K$100K$21K
Total functional expensesLn 25$6.2M$5.7M$463K$64K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Viewing $5.9M$6.2M−$261K$2.5M 990 PDF
FY2023 $4.9M$5.1M−$171K$2.8M 990 PDF
FY2022 $4.7M$3.9M$803K$2.9M 990 PDF
FY2021 $2.3M$2.2M$70K$2.3M 990 PDF
FY2020 $2.4M$2.5M−$111K$2.1M 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 FY2024 990 (4 parts)
Part VIII · Statement of revenue $5,940,294 across 10 lines filed
VIII-1f All other contributions, gifts and grants$59,550
VIII-1h Total contributions, gifts and grants$59,550
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $5,759,022$5,759,022
VIII-3 Investment incomeExcluded from tax $48,927$48,927
VIII-5 RoyaltiesExcluded from tax $22,443$22,443
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assets$0
VIII-8 Net income from fundraising events$0
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $10,837 · Unrelated business $39,515$50,352
VIII-12 Total revenueRelated to mission $5,769,859 · Unrelated business $39,515 · Excluded from tax $71,370$5,940,294
Part IX · Statement of functional expenses $6,200,933 across 31 lines filed
IX-1 Grants to domestic organizationsPrograms $1,155$1,155
IX-2 Grants to domestic individualsPrograms $10,000$10,000
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staffPrograms $165,714 · Management $40,548 · Fundraising $11,047$217,309
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wagesPrograms $437,245 · Management $106,987 · Fundraising $29,149$573,381
IX-8 Pension plan contributionsPrograms $7,739 · Management $5,488 · Fundraising $516$13,743
IX-9 Other employee benefitsPrograms $24,342 · Management $17,264 · Fundraising $1,623$43,229
IX-10 Payroll taxesPrograms $42,905 · Management $10,498 · Fundraising $2,860$56,263
IX-11a Management fees$0
IX-11b Legal feesPrograms $76,520 · Management $60,961$137,481
IX-11c Accounting feesPrograms $120,779 · Management $33,542$154,321
IX-11d Lobbying feesPrograms $37,323 · Management $6,586$43,909
IX-11e Professional fundraising fees$0
IX-11f Investment management feesManagement $12,865$12,865
IX-11g Other fees for servicesPrograms $255,498 · Management $45,088$300,586
IX-12 Advertising and promotionPrograms $78,244 · Fundraising $18,763$97,007
IX-13 Office expensesPrograms $11,095 · Management $25,699 · Fundraising $81$36,875
IX-14 Information technologyPrograms $145,830 · Management $25,734$171,564
IX-15 Royalties$0
IX-16 OccupancyPrograms $56,572 · Management $19,438$76,010
IX-17 TravelPrograms $663$663
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetingsPrograms $57,643$57,643
IX-20 Interest$0
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortizationPrograms $52,871 · Management $13,218$66,089
IX-23 InsurancePrograms $14,178 · Management $3,545$17,723
IX-24 Other expenses (24a–d)Programs $3,977,637 · Management $14,036$3,991,673
IX-24e All other expensesPrograms $100,159 · Management $21,285$121,444
IX-25 Total functional expensesPrograms $5,674,112 · Management $462,782 · Fundraising $64,039$6,200,933
Part X · Balance sheet $4,079,516 assets, 21 lines filed
X-1 Cash, non-interest-bearingStart of year $951,967$430,711
X-2 Savings and temporary cash investmentsStart of year $1,412,944$89,708
X-3 Pledges and grants receivable$0
X-4 Accounts receivableStart of year $116,363$140,732
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred chargesStart of year $214,941$115,355
X-10c Land, buildings and equipment, netStart of year $77,596$11,507
X-11 Publicly traded securities$1,440,427
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assetsStart of year $1,300,000$1,300,000
X-15 Other assetsStart of year $285,381$551,076
X-16 Total assetsStart of year $4,359,192$4,079,516
X-17 Accounts payable and accrued expensesStart of year $214,450$512,230
X-19 Deferred revenueStart of year $291,704$490,655
X-25 Other liabilitiesStart of year $1,081,923$559,625
X-26 Total liabilitiesStart of year $1,588,077$1,562,510
X-27 Net assets without donor restrictionsStart of year $2,704,691$2,451,747
X-28 Net assets with donor restrictionsStart of year $66,424$65,259
X-32 Total net assets or fund balancesStart of year $2,771,115$2,517,006
X-33 Total liabilities and net assetsStart of year $4,359,192$4,079,516
Part XI · Reconciliation of net assets $2,517,006 net assets at year end
XI-1 Total revenue$5,940,294
XI-2 Total expenses$6,200,933
XI-3 Revenue less expenses−$260,639
XI-4 Net assets at start of year$2,771,115
XI-5 Net unrealized gains (losses) on investments$60,375
XI-8 Prior period adjustments−$53,845
XI-10 Net assets at end of year$2,517,006

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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