Is it real?
No. The IRS revoked its tax exemption. Latest filing on record: FY2025. IRS ruling in Jan 2018.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Who runs it and what they're paid
13 people listed on the 990; $383K paid to officers and key staff (Part VII, Section A).
Jonathan Epstein’s $336K as President is at the 100th percentile of top reported officer pay among 1708 $100K–1M community development 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 · 3 named individuals · Part VII
| Name | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Jonathan Epstein | $336,350 | $239,600 | $218,500 | $189,324 | $167,708 | $113,850 |
| Serge a Boccassini | $46,718 | — | — | — | — | — |
| Serge Boccassini | — | $28,195 | — | — | — | — |
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 Defined Contribution Alternatives Association executive salaries →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
Educates and advocates for including alternative investments in retirement plans to improve participant outcomes.
Questions for Defined Contribution Alternatives Association
Your first name shows with your question. Defined Contribution Alternatives Association answers here, for everyone.
Education
Held four board meetings and an annual strategy session to focus on general session content, principles for the industry and white paper topics for educational purposes. Held 3 in-person general sessions for membership to cover industry trends for alts in DC plans, operational/technological advancements, the merits of different types of…
Form 990 Part III, line 4, FY2025. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 36-4813561) · Dispute this lineAdvocacy & Lobbying
Regularly communicated updates on our legislative and regulatory efforts to membership during general session meetings and quarterly Public Policy Committee meetings. Established a separate and formal lobbying initiative on July 2, 2025.
Form 990 Part III, line 4, FY2025. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 36-4813561) · Dispute this lineResearch
Released 3 key papers through our Alts Implememtation & Operation Committee to educate the industry and stakeholders representing different roles and responsibilities in the retirement ecosystem: Unlocking the Potential of Private Investments in Defined Contribution Plans, Principles for DC Stakeholders on the Consideration and Use of…
Form 990 Part III, line 4, FY2025. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 36-4813561) · Dispute this lineBy the numbers
The FY2025 990, line by line.
Download 990
| Line | Start FY25 | End FY25 |
|---|---|---|
| Cash and savingsLn 1–2 | $91K | $176K |
| Total assetsLn 16 | $91K | $176K |
| LiabilitiesLn 26 | $0 | $0 |
| Net assetsLn 32 | $91K | $176K |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Pay of officers and key staff (Part IX, line 5)Ln 5 | $336K | $0 | $0 | $0 |
| Other employee benefitsLn 9 | $11K | $0 | $0 | $0 |
| Payroll taxesLn 10 | $16K | $0 | $0 | $0 |
| Legal feesLn 11b | $46K | $0 | $0 | $0 |
| Accounting feesLn 11c | $47K | $0 | $0 | $0 |
| Lobbying feesLn 11d | $100K | $0 | $0 | $0 |
| Advertising and promotionLn 12 | $18K | $0 | $0 | $0 |
| Office expensesLn 13 | $22K | $0 | $0 | $0 |
| TravelLn 17 | $44K | $0 | $0 | $0 |
| Other expenses (24a–d)Ln 24 | $23K | $0 | $0 | $0 |
| Total functional expensesLn 25 | $663K | $0 | $0 | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 Latest ViewingFiled with the IRS May 4, 2026 | $748K | $663K | $86K | $176K | 990 PDF |
| FY2024Filed with the IRS Apr 7, 2025 | $380K | $370K | $10K | $91K | 990 PDF |
| FY2023Filed with the IRS May 3, 2024 | $346K | $350K | −$4K | $85K | 990 PDF |
| FY2022Filed with the IRS Apr 25, 2023 | $266K | $264K | $2K | $89K | 990 PDF |
| FY2021Filed with the IRS May 11, 2022 | $269K | $222K | $47K | $87K | 990 PDF |
| FY2020Filed with the IRS May 12, 2021 | $162K | $40K | 990 PDF |
Schedules filed Part IV
See the full FY2025 990
Part I · Summary $748,481 revenue, 12 lines filed
Part VI · Governance 11 of 11 board members independent, 3 to look at
Part VIII · Statement of revenue $748,481 across 4 lines filed
Part IX · Statement of functional expenses $662,882 across 10 lines filed
Part X · Balance sheet $176,473 assets, 6 lines filed
Part XI · Reconciliation of net assets $176,473 net assets at year end
Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File
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