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National Association of Investors Corporation

Tax-deductible

Troy, MI501(c)(3)Since 1951Human ServicesEIN 38-2111435Revenue $2.7M in FY2025

On file with the IRSbetterinvesting.org570 Kirts Blvd Ste 237, 48084-4156 · Troy, MITax-exempt since Dec 1998Publicly supported — 509(a)(2)

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Program of sound investment information, education, and support. Our mission is to educate individual Investors and investment clubs to become successful lifelong Investors.

501(c)(3) charity; gifts are tax-deductible.
83¢ of each $1 spent went to programs.
Run by 475 volunteers and 21 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2025 · 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
1 of 6
filings with a surplus
Average deficit $182K a year · 7% of revenue · last 6 filings
Concern: a surplus in 1 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
83%
of spending
Looks good: 83% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$539K
to officers and key staff · 19% of spending
Top officer’s pay higher than 83% of similar orgs
Fine: pay to officers and key staff is 19% of spending; 15% to 20%.
Pt VII · Sec A
Cash reserves
5 mo
of spending, in cash
Looks good: 5.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $20K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$1.2M
40% of total assets
Looks good: liabilities are 40% 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
$2.7M
-6% vs prior year
Spent
$2.9M
To programs
83%
Net assets
$1.9M
By yearFY2020–FY2025
Revenue
$2.7M
FY2025▼ -6%
Tap a bar for its year
Revenue by fiscal year
FY2020$2.2M
FY2021$2.5M
FY2022$3.3M
FY2023$2.7M
FY2024$2.9M
FY2025$2.7M
Expenses
$2.9M
FY2025▼ -11%
Tap a bar for its year
Expenses by fiscal year
FY2020$2.5M
FY2021$2.7M
FY2022$3.0M
FY2023$3.0M
FY2024$3.2M
FY2025$2.9M
Net assets
$1.9M
FY2025▼ -7%
Tap a bar for its year
Net assets by fiscal year
FY2020$2.4M
FY2021$2.3M
FY2022$2.5M
FY2023$2.3M
FY2024$2.0M
FY2025$1.9M

From the FY2025 Form 990 (year ending September 2025) · 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: FY2025. IRS ruling in Dec 1998.

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

Where the money goes

83 cents of each dollar spent went to programs.

Program services 83% · $2.4M Management & general 17% · $476K

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

13 people listed on the 990; $539K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
Ken Zendel
Former CEO
$174,388Pt VII · Sec A
$124,246Pt VII · Sec A
Cliff Trent
Dir of Ops &
$120,037Pt VII · Sec A
$112,478Pt VII · Sec A
$1,375Pt VII · Sec A
Jackie Koski
Director
$1,375Pt VII · Sec A
Pat Donnelly
Director
$1,375Pt VII · Sec A
John Gannon
Secretary
$1,375Pt VII · Sec A

Ken Zendel’s $174K as Former CEO is at the 83rd percentile of top reported officer pay among 3868 $1–10M human services 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 · 8 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Ken Zendel$174,388$171,012$167,863$163,650$130,707—
Kathleen Zaracki————$55,424$173,275
Suzanne Artzberger$112,478$111,309$128,151$107,071$103,700$104,635
Lindsey Bell Sched O Part Vii Sect$124,246—————
Cliff Trent$120,037$112,879$121,370$112,524$103,882$102,869
Adam Ritt—————$102,566
Cy Lynch—————$12,750
Pat Donnelly$1,375$1,550$1,700$1,375$300—

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

Provides sound investment information, education, and support to create successful lifetime investors.

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Provided by the organization

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1 program · $2.4M · in their own filed words · FY2024
01

Far too many americans are missing out on the basic building blocks of wealth creation because of lack of knowledge, exposure and opportunity. Too many still lack basic investment education.

$2.4Mprogram 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 · FY2023
Donor Advised Charitable Giving INCFY2023$20K
Amazonsmile FoundationFY2023$153
Total grants receivedfrom 2 funders$20K

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$2.7M
Ln 12
Fees for servicesLn 2g$2.0M
Other incomeLn 4–11$586K
Gifts and grantsLn 1h$131K
Money outPt IX
$2.9M
Ln 25
Programscol B$2.4M
Managementcol C$476K
Owns and owesPt X
$1.9M
net assets · Ln 32
Cash and savingsLn 1–2$1.2M
Total assetsLn 16$3.1M
LiabilitiesLn 26$1.2M
PeoplePt VI, VII
13
listed · VII A
PaidVII A10
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$131K
Noncash giftsLn 1g$87K
Fees for servicesLn 2g$2.0M
Investment incomeLn 3$38K
Other incomeLn 4–11$586K
Gains on assetsLn 7−$1K
Total revenueLn 12$2.7M
Assets in detailPt X, end of year
CashLn 1$562K
SavingsLn 2$661K
Cash and savings togetherLn 1–2$1.2M
InvestmentsLn 11–13$1.6M
Land, buildings, equipmentLn 10c$36K
Other assetsLn 15$30K
Total assetsLn 16$3.1M
LiabilitiesLn 26$1.2M
Net assetsLn 32$1.9M
OperationsPt I, VI
EmployeesI 521
VolunteersI 6475
Fiscal year endsHeaderSeptember
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 FY25End FY25
Cash and savingsLn 1–2$1.4M$1.2M
InvestmentsLn 11–13$1.6M$1.6M
Land, buildings, equipmentLn 10c$42K$36K
Total assetsLn 16$3.3M$3.1M
LiabilitiesLn 26$1.3M$1.2M
Net assetsLn 32$2.0M$1.9M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$530K$397K$132K
Other salaries and wagesLn 7$813K$610K$203K
Pension plan contributionsLn 8$12K$9K$3K
Other employee benefitsLn 9$134K$104K$30K
Payroll taxesLn 10$94K$73K$21K
Legal feesLn 11b$10K$10K
Accounting feesLn 11c$27K$27K
Advertising and promotionLn 12$98K$98K
Office expensesLn 13$356K$354K$2K
OccupancyLn 16$24K$15K$9K
TravelLn 17$5K$5K
Conferences, conventions and meetingsLn 19$4K$4K
Depreciation, depletion and amortizationLn 22$31K$28K$3K
InsuranceLn 23$82K$73K$8K
Other expenses (24a–d)Ln 24$341K$340K$598
All other expensesLn 24e$315K$288K$26K
Total functional expensesLn 25$2.9M$2.4M$476K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $2.7M$2.9M−$168K$1.9M 990 PDF
FY2024 $2.9M$3.2M−$345K$2.0M 990 PDF
FY2023 $2.7M$3.0M−$334K$2.3M 990 PDF
FY2022 $3.3M$3.0M$290K$2.5M 990 PDF
FY2021 $2.5M$2.7M−$164K$2.3M 990 PDF
FY2020 $2.2M$2.5M−$370K$2.4M 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 FY2025 990 (6 parts)
Part I · Summary $2,706,549 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $161,234$131,314
I-9 Program service revenuePrior year $1,961,382$1,951,560
I-10 Investment incomePrior year $60,756$37,992
I-11 Other revenuePrior year $700,909$585,683
I-12 Total revenuePrior year $2,884,281$2,706,549
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $1,661,914$1,582,350
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $1,567,333$1,292,066
I-18 Total expensesPrior year $3,229,247$2,874,416
I-19 Revenue less expensesPrior year −$344,966−$167,867
Part VI · Governance 9 of 9 board members independent, no flags
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
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 $2,706,549 across 9 lines filed
VIII-1f All other contributions, gifts and grants$131,314
VIII-1g Noncash contributions (included above)$86,831
VIII-1h Total contributions, gifts and grants$131,314
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,951,560$1,951,560
VIII-3 Investment incomeExcluded from tax $39,360$39,360
VIII-5 RoyaltiesExcluded from tax $933$933
VIII-7 Net gain or loss on sales of assetsRelated to mission −$1,368−$1,368
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $146,251 · Unrelated business $438,499$584,750
VIII-12 Total revenueRelated to mission $2,096,443 · Unrelated business $438,499 · Excluded from tax $40,293$2,706,549
Part IX · Statement of functional expenses $2,874,416 across 16 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $397,330 · Management $132,443$529,773
IX-7 Other salaries and wagesPrograms $609,502 · Management $203,168$812,670
IX-8 Pension plan contributionsPrograms $9,359 · Management $2,703$12,062
IX-9 Other employee benefitsPrograms $103,823 · Management $29,975$133,798
IX-10 Payroll taxesPrograms $72,978 · Management $21,069$94,047
IX-11b Legal feesManagement $9,938$9,938
IX-11c Accounting feesManagement $26,800$26,800
IX-12 Advertising and promotionPrograms $97,823$97,823
IX-13 Office expensesPrograms $353,754 · Management $2,454$356,208
IX-16 OccupancyPrograms $14,776 · Management $8,792$23,568
IX-17 TravelPrograms $4,841$4,841
IX-19 Conferences, conventions and meetingsPrograms $4,451$4,451
IX-22 Depreciation, depletion and amortizationPrograms $28,022 · Management $3,114$31,136
IX-23 InsurancePrograms $73,462 · Management $8,163$81,625
IX-24 Other expenses (24a–d)Programs $340,329 · Management $598$340,927
IX-24e All other expensesPrograms $288,320 · Management $26,429$314,749
IX-25 Total functional expensesPrograms $2,398,770 · Management $475,646 · Fundraising $0$2,874,416
Part X · Balance sheet $3,090,371 assets, 18 lines filed
X-1 Cash, non-interest-bearingStart of year $564,092$562,305
X-2 Savings and temporary cash investmentsStart of year $787,013$661,444
X-3 Pledges and grants receivableStart of year $73,929$52,476
X-8 Inventories for sale or useStart of year $6,884$3,629
X-9 Prepaid expenses and deferred chargesStart of year $94,279$102,305
X-10c Land, buildings and equipment, netStart of year $41,977$36,345
X-11 Publicly traded securitiesStart of year $424,523$433,787
X-12 Other securitiesStart of year $1,182,030$1,208,006
X-15 Other assetsStart of year $112,644$30,074
X-16 Total assetsStart of year $3,287,371$3,090,371
X-17 Accounts payable and accrued expensesStart of year $122,684$152,606
X-19 Deferred revenueStart of year $993,510$980,035
X-25 Other liabilitiesStart of year $170,788$99,693
X-26 Total liabilitiesStart of year $1,286,982$1,232,334
X-27 Net assets without donor restrictionsStart of year $1,773,113$1,682,878
X-28 Net assets with donor restrictionsStart of year $227,276$175,159
X-32 Total net assets or fund balancesStart of year $2,000,389$1,858,037
X-33 Total liabilities and net assetsStart of year $3,287,371$3,090,371
Part XI · Reconciliation of net assets $1,858,037 net assets at year end
XI-1 Total revenue$2,706,549
XI-2 Total expenses$2,874,416
XI-3 Revenue less expenses−$167,867
XI-4 Net assets at start of year$2,000,389
XI-5 Net unrealized gains (losses) on investments$25,515
XI-10 Net assets at end of year$1,858,037

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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