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Naifa Illinois

Not tax-deductible

Springfield, IL501(c)(6)EIN 37-0345280

To give members from insurance and financial advisory professions educational support.

79¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

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
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
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
5 of 5
filings with a surplus
Average surplus $15K a year · 7% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
79%
of spending
Looks good: 79% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
27 mo
of spending, in cash
Looks good: 26.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$28K
6% of total assets
Looks good: liabilities are 6% of assets; 50% or less.
Pt X · Ln 26
Independent board members
12
of 12 voting members
Looks good: 12 of 12 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$237K
+7% vs prior year
Spent
$223K
To programs
79%
Net assets
$471K
By yearFY2020–FY2024
Revenue
$237K
FY2024▲ +7%
Revenue by fiscal year
FY2020$241K
FY2021$221K
FY2022$241K
FY2023$222K
FY2024$237K
Expenses
$223K
FY2024▲ +2%
Expenses by fiscal year
FY2020$231K
FY2021$205K
FY2022$209K
FY2023$217K
FY2024$223K
Net assets
$471K
FY2024▲ +3%
Net assets by fiscal year
FY2020$403K
FY2021$419K
FY2022$452K
FY2023$456K
FY2024$471K

From the FY2024 Form 990 · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jun 1954.

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

Where the money goes

79 cents of each dollar spent went to programs.

Program services 79% · $175K

Form 990 Part IX, line 25. Every line is in By the numbers.

Who runs it and what they're paid

13 people listed on the 990.

Part VII, Section A · reportable compensation
Eric Essex
President
$0Pt VII · Sec A
David Kikoen
President Elect
$0Pt VII · Sec A
Kyler Spencer
Secretary/Treasurer
$0Pt VII · Sec A
Dennis Dean
Immediate Past President
$0Pt VII · Sec A
Laurie Adams
Senior Counsel
$0Pt VII · Sec A
Pierre Pajak
Liaison to Naifa Chicagola
$0Pt VII · Sec A
Lisa Bickus
Ifapac/ Gr Director
$0Pt VII · Sec A
Thao Huynh
Apic/Gr Director/Diversity
$0Pt VII · Sec A
See Naifa Illinois 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 15aYes

Programs and updates

Provides educational support to members of insurance and financial advisory professions.

Provided by the organization

This section is blank until Naifa Illinois claims this page.

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1 program service account for $175K of program spending, described in the organization's own filed words · FY2024.
01

Expenses related to the education and professional development of the Association's members.

$175Kprogram expense

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By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$237K
Ln 12
Gifts and grantsLn 1h$180K
Fees for servicesLn 2g$37K
Investment incomeLn 3$20K
Money outPt IX
$223K
Ln 25
Programscol B$175K
Owns and owesPt X
$471K
net assets · Ln 32
Cash and savingsLn 1–2$496K
Total assetsLn 16$499K
LiabilitiesLn 26$28K
PeoplePt VI, VII
13
listed · VII A
PaidVII A0
Voting boardVI 1a12
IndependentVI 1b12
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$180K
Fees for servicesLn 2g$37K
Investment incomeLn 3$20K
Other incomeLn 4–11$789
Total revenueLn 12$237K
Assets in detailPt X, end of year
CashLn 1$409K
SavingsLn 2$87K
Cash and savings togetherLn 1–2$496K
Total assetsLn 16$499K
LiabilitiesLn 26$28K
Net assetsLn 32$471K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
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 FY24End FY24
Cash and savingsLn 1–2$478K$496K
Total assetsLn 16$480K$499K
LiabilitiesLn 26$24K$28K
Net assetsLn 32$456K$471K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$127K
Accounting feesLn 11c$14K
Lobbying feesLn 11d$25K
Office expensesLn 13$761
Information technologyLn 14$4K
Conferences, conventions and meetingsLn 19$11K
InsuranceLn 23$3K
Other expenses (24a–d)Ln 24$35K
All other expensesLn 24e$1K
Total functional expensesLn 25$223K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $237K$223K$14K$471K 990 PDF
FY2023 $222K$217K$5K$456K 990 PDF
FY2022 $241K$209K$33K$452K 990 PDF
FY2021 $221K$205K$16K$419K 990 PDF
FY2020 $241K$231K$9K$403K 990 PDF

Want to add your own materials alongside these filings? Claim this org

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 $236,852 across 6 lines filed
VIII-1b Membership dues$179,586
VIII-1h Total contributions, gifts and grants$179,586
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $36,897$36,897
VIII-3 Investment incomeExcluded from tax $19,580$19,580
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $789$789
VIII-12 Total revenueRelated to mission $37,686 · Unrelated business $0 · Excluded from tax $19,580$236,852
Part IX · Statement of functional expenses $222,513 across 9 lines filed
IX-11a Management fees$127,400
IX-11c Accounting fees$13,850
IX-11d Lobbying fees$25,000
IX-13 Office expenses$761
IX-14 Information technology$4,272
IX-19 Conferences, conventions and meetings$11,315
IX-23 Insurance$3,460
IX-24 Other expenses (24a–d)$35,197
IX-24e All other expenses$1,258
IX-25 Total functional expenses$222,513
Part X · Balance sheet $498,584 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $395,687$409,499
X-2 Savings and temporary cash investmentsStart of year $82,484$86,719
X-4 Accounts receivable$0
X-9 Prepaid expenses and deferred chargesStart of year $1,812$2,366
X-16 Total assetsStart of year $479,983$498,584
X-17 Accounts payable and accrued expensesStart of year $7,764$7,541
X-19 Deferred revenueStart of year $15,849$20,334
X-26 Total liabilitiesStart of year $23,613$27,875
X-27 Net assets without donor restrictionsStart of year $456,370$470,709
X-32 Total net assets or fund balancesStart of year $456,370$470,709
X-33 Total liabilities and net assetsStart of year $479,983$498,584
Part XI · Reconciliation of net assets $470,709 net assets at year end
XI-1 Total revenue$236,852
XI-2 Total expenses$222,513
XI-3 Revenue less expenses$14,339
XI-4 Net assets at start of year$456,370
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$470,709

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

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