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Naifa Illinois FY2021 filing

Not tax-deductible

Springfield, IL501(c)(6)EIN 37-0345280Revenue $221K in FY2021

On file with the IRSnaifa-il.comPo Box 13365, 62791-3365 · Springfield, ILTax-exempt since Jun 1954

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

81¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2021 · 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
81%
of spending
Looks good: 81% 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
$40K
9% of total assets
Looks good: liabilities are 9% 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
$221K
-8% vs prior year
Spent
$205K
To programs
81%
Net assets
$419K
By yearFY2020–FY2024
Revenue
$221K
FY2021▼ -8%
Tap a bar for its year
Revenue by fiscal year
FY2020$241K
FY2021$221K
FY2022$241K
FY2023$222K
FY2024$237K
Expenses
$205K
FY2021▼ -11%
Tap a bar for its year
Expenses by fiscal year
FY2020$231K
FY2021$205K
FY2022$209K
FY2023$217K
FY2024$223K
Net assets
$419K
FY2021▲ +4%
Tap a bar for its year
Net assets by fiscal year
FY2020$403K
FY2021$419K
FY2022$452K
FY2023$456K
FY2024$471K

From the FY2021 Form 990 · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →

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

81 cents of each dollar spent went to programs.

Program services 81% · $166K

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

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Who runs it and what they're paid

13 people listed on the 990.

Part VII, Section A · reportable compensation
Art Hayes
President
$0Pt VII · Sec A
Tim Foley
President Elect
$0Pt VII · Sec A
Dennis Dean
Secretary/Treasurer
$0Pt VII · Sec A
Camille Tan
Immediate Past President
$0Pt VII · Sec A
Carl Zeidler
National Committeeperson
$0Pt VII · Sec A
Kevin Frost
At-Large Director/Strategy
$0Pt VII · Sec A
Rodrigo Menendez
Ifapac/ Gr Director
$0Pt VII · Sec A
Greg Kamp
Apic/Gr Director
$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.

Questions for Naifa Illinois

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Provided by the organization

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1 program · $166K · in their own filed words · FY2021
01

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

$166Kprogram expense

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$221K
Ln 12
Gifts and grantsLn 1h$200K
Fees for servicesLn 2g$17K
Investment incomeLn 3$2K
Money outPt IX
$205K
Ln 25
Programscol B$166K
Owns and owesPt X
$419K
net assets · Ln 32
Cash and savingsLn 1–2$458K
Total assetsLn 16$460K
LiabilitiesLn 26$40K
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$200K
Fees for servicesLn 2g$17K
Investment incomeLn 3$2K
Other incomeLn 4–11$1K
Total revenueLn 12$221K
Assets in detailPt X, end of year
CashLn 1$377K
SavingsLn 2$80K
Cash and savings togetherLn 1–2$458K
Total assetsLn 16$460K
LiabilitiesLn 26$40K
Net assetsLn 32$419K
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 FY21End FY21
Cash and savingsLn 1–2$438K$458K
Total assetsLn 16$441K$460K
LiabilitiesLn 26$37K$40K
Net assetsLn 32$403K$419K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$129K
Accounting feesLn 11c$12K
Lobbying feesLn 11d$25K
Office expensesLn 13$588
Information technologyLn 14$3K
Conferences, conventions and meetingsLn 19$8K
InsuranceLn 23$4K
Other expenses (24a–d)Ln 24$22K
All other expensesLn 24e$838
Total functional expensesLn 25$205K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $237K$223K$14K$471K 990 PDF
FY2023 $222K$217K$5K$456K 990 PDF
FY2022 $241K$209K$33K$452K 990 PDF
FY2021 Viewing $221K$205K$16K$419K 990 PDF
FY2020 $241K$231K$9K$403K 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 FY2021 990 (6 parts)
Part I · Summary $221,487 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $225,165$200,221
I-9 Program service revenuePrior year $12,030$17,495
I-10 Investment incomePrior year $1,957$2,277
I-11 Other revenuePrior year $1,399$1,494
I-12 Total revenuePrior year $240,551$221,487
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $231,427$205,193
I-18 Total expensesPrior year $231,427$205,193
I-19 Revenue less expensesPrior year $9,124$16,294
Part VI · Governance 12 of 12 board members independent, no flags
VI-1a Voting members of the governing body12
VI-1b Independent voting members12
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
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $221,487 across 6 lines filed
VIII-1b Membership dues$200,221
VIII-1h Total contributions, gifts and grants$200,221
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $17,495$17,495
VIII-3 Investment incomeExcluded from tax $2,277$2,277
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $1,494$1,494
VIII-12 Total revenueRelated to mission $18,989 · Unrelated business $0 · Excluded from tax $2,277$221,487
Part IX · Statement of functional expenses $205,193 across 9 lines filed
IX-11a Management fees$129,317
IX-11c Accounting fees$12,000
IX-11d Lobbying fees$25,000
IX-13 Office expenses$588
IX-14 Information technology$3,488
IX-19 Conferences, conventions and meetings$8,046
IX-23 Insurance$3,506
IX-24 Other expenses (24a–d)$22,410
IX-24e All other expenses$838
IX-25 Total functional expenses$205,193
Part X · Balance sheet $459,679 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $359,223$377,151
X-2 Savings and temporary cash investmentsStart of year $79,145$80,457
X-4 Accounts receivableStart of year $142$173
X-9 Prepaid expenses and deferred chargesStart of year $1,991$1,898
X-16 Total assetsStart of year $440,501$459,679
X-17 Accounts payable and accrued expensesStart of year $9,119$7,491
X-19 Deferred revenueStart of year $28,364$32,876
X-26 Total liabilitiesStart of year $37,483$40,367
X-27 Net assets without donor restrictionsStart of year $403,018$419,312
X-32 Total net assets or fund balancesStart of year $403,018$419,312
X-33 Total liabilities and net assetsStart of year $440,501$459,679
Part XI · Reconciliation of net assets $419,312 net assets at year end
XI-1 Total revenue$221,487
XI-2 Total expenses$205,193
XI-3 Revenue less expenses$16,294
XI-4 Net assets at start of year$403,018
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$419,312

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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