Nrf Foundation FY2025 filing

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The Nrf Foundation shapes retail's future by building awareness of the industry through statistics and stories; developing talent through education, experiences and scholarships; and fostering career growth among people who work in retail.

501(c)(3) charity; gifts are tax-deductible.
84¢ of each $1 spent went to programs.
$290K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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
FY2026
latest Form 990
Looks good: the latest return is for FY2026, this tax year; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 6
filings with a surplus
Average surplus $1.1M a year · 13% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
84%
of spending
Looks good: 84% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$290K
to officers and key staff · 2% of spending
Looks good: pay to officers and key staff is 2% of spending; 15% or less.
Pt VII · Sec A
8 mo
of spending, in cash
Plus $12.7M in investments, Pt X · Ln 11–13
Looks good: 8.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
4
named funders · $354K
Looks good: 4 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$12.6M
49% of total assets
Looks good: liabilities are 49% of assets; 50% or less.
Pt X · Ln 26
Independent board members
15
of 16 voting members
Looks good: 15 of 16 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$11.7M
+26% vs prior year
Spent
$14.4M
To programs
84%
Net assets
$13.0M
By yearFY2021–FY2026
Revenue
$11.7M
FY2025▲ +26%
Tap a bar for its year
Revenue by fiscal year
FY2021$2.8M
FY2022$4.4M
FY2023$10.8M
FY2024$9.3M
FY2025$11.7M
FY2026$12.5M
Expenses
$14.4M
FY2025▲ +94%
Tap a bar for its year
Expenses by fiscal year
FY2021$3.8M
FY2022$3.8M
FY2023$5.5M
FY2024$7.4M
FY2025$14.4M
FY2026$10.1M
Net assets
$13.0M
FY2025▼ -15%
Tap a bar for its year
Net assets by fiscal year
FY2021$7.6M
FY2022$8.0M
FY2023$12.7M
FY2024$15.4M
FY2025$13.0M
FY2026$16.5M

From the FY2025 Form 990 (year ending February 2025) · figures checked against the IRS filing · see the original

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You’re viewing the FY2025 filing — not the latest on file. See the latest (FY2026) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2026. IRS ruling in Dec 1981.

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

Where the money goes

84 cents of each dollar spent went to programs.

Program services 84% · $12.1M Management & general 16% · $2.3M

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

24 people listed on the 990; $290K 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
Executive Director
$290,194Pt VII · Sec A
Chair (as of 01/25)
$0Pt VII · Sec A
Chair (thru 01/25)
$0Pt VII · Sec A
Director (thru 01/25)
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Director-Nonvoting (as of 01/25)
$0Pt VII · Sec A

Compensation history total reportable pay by year · 4 named individuals · Part VII

NameFY2026FY2025FY2024FY2023FY2022FY2021
Adam Lukoskie$376,526$290,194$229,276$229,691$179,558$160,709
William Thorne———$349,064$333,999—
Ellen Davis—————$343,988
Robin Wagher————$112,871$99,762

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 Nrf Foundation 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 15aNo

Programs and updates

Educates and researches for the public good, supporting the retail industry.

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3 programs · $11.5M · in their own filed words · FY2024
01

Research and Retail Industry Projects

In order to ensure future leadership in the retail industry, the foundation actively works with current retail leaders, educational institutions and students informing and educating them about career paths within the retail industry.

$9.2Mprogram expense
02

Rise Up

Training and credentialing initiative designed by the retail industry to help people - regardless of educational background, economic means or age - acquire the skills they need to land jobs in retail and advance into promising careers.

$1.5Mprogram expense
03

Scholarship Programs

In support of its mission to advance the interests of the retail industry through education, the foundation sponsors several programs providing scholarships to indviduals attending eligible institutions who are interested in a variety of careers within the industry.

$810Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · received and paid
Grants received · FY2024
Cvs FoundationFY2024$249K
Total grants receivedfrom 4 funders$354K
See all 4 funders →
Grants paid · 6 grants · $3.4M · 2020–2025
Unitemized GrantFY2025$874,824
Unitemized GrantFY2024$810,356
Unitemized GrantFY2023$641,377
Unitemized GrantFY2022$636,612
Unitemized GrantFY2021$277,250
Unitemized GrantFY2020$171,000

By the numbers

The FY2025 990, line by line.

1The main four
Money inPt VIII
$11.7M
Ln 12
Fees for servicesLn 2g$9.3M
Gifts and grantsLn 1h$2.6M
Investment incomeLn 3$715K
Money outPt IX
$14.4M
Ln 25
Programscol B$12.1M
Managementcol C$2.3M
Owns and owesPt X
$13.0M
net assets · Ln 32
Cash and savingsLn 1–2$10.2M
Total assetsLn 16$25.5M
LiabilitiesLn 26$12.6M
PeoplePt VI, VII
24
listed · VII A
PaidVII A1
Voting boardVI 1a16
IndependentVI 1b15
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2.6M
Fundraising eventsLn 1c$2.6M
Fees for servicesLn 2g$9.3M
Investment incomeLn 3$715K
Gains on assetsLn 7$182K
Total revenueLn 12$11.7M
Assets in detailPt X, end of year
CashLn 1$10.2M
Cash and savings togetherLn 1–2$10.2M
Accounts receivableLn 4$1.4M
Prepaid expenses and deferred chargesLn 9$1.2M
InvestmentsLn 11–13$12.7M
Total assetsLn 16$25.5M
LiabilitiesLn 26$12.6M
Net assetsLn 32$13.0M
OperationsPt I, VI
EmployeesI 50
VolunteersI 6350
Fiscal year endsHeaderFebruary
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$8.4M$10.2M
InvestmentsLn 11–13$11.7M$12.7M
Land, buildings, equipmentLn 10c$0$0
Total assetsLn 16$21.8M$25.5M
LiabilitiesLn 26$6.4M$12.6M
Net assetsLn 32$15.4M$13.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$810K$810K
Pay of current officers, directors and key staffLn 5$407K$347K$60K
Other salaries and wagesLn 7$821K$746K$75K
Other employee benefitsLn 9$600K$573K$27K
Payroll taxesLn 10$73K$65K$8K
Legal feesLn 11b$2K$2K
Accounting feesLn 11c$6K$6K
Investment management feesLn 11f$25K$25K
Other fees for servicesLn 11g$3.0M$2.6M$430K
Advertising and promotionLn 12$321K$321K
Office expensesLn 13$209K$194K$15K
Information technologyLn 14$595K$6K$588K
TravelLn 17$235K$205K$30K
Conferences, conventions and meetingsLn 19$19K$19K
Payments to affiliatesLn 21$1.0M$1.0M
Other expenses (24a–d)Ln 24$6.3M$6.3M
All other expensesLn 24e$8K$3K$5K
Total functional expensesLn 25$14.4M$12.1M$2.3M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2026 LatestFiled with the IRS Jun 25, 2026 $12.5M$10.1M$2.4M$16.5M 990 PDF
FY2025 ViewingFiled with the IRS Jul 11, 2025 $11.7M$14.4M−$2.7M$13.0M 990 PDF
FY2024Filed with the IRS Jun 25, 2024 $9.3M$7.4M$1.8M$15.4M 990 PDF
FY2023Filed with the IRS Jul 5, 2023 $10.8M$5.5M$5.3M$12.7M 990 PDF
FY2022Filed with the IRS Jul 12, 2022 $4.4M$3.8M$604K$8.0M 990 PDF
FY2021Filed with the IRS Jun 15, 2021 $2.8M$3.8M−$975K$7.6M 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support J · Pay O · Explanations
See the full FY2025 990 (6 parts)
Part I · Summary $11,709,944 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $2,884,725$2,556,007
I-9 Program service revenuePrior year $6,840,086$9,307,965
I-10 Investment incomePrior year $297,818$715,494
I-11 Other revenuePrior year −$746,666−$869,522
I-12 Total revenuePrior year $9,275,963$11,709,944
I-13 Grants and similar amounts paidPrior year $641,377$810,356
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $1,522,436$1,901,060
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $5,267,754$11,698,944
I-18 Total expensesPrior year $7,431,567$14,410,360
I-19 Revenue less expensesPrior year $1,844,396−$2,700,416
Part VI · Governance 15 of 16 board members independent, 1 to look at
VI-1a Voting members of the governing body16
VI-1b Independent voting members15
VI-15a Process for setting top official's payNo
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
Part VIII · Statement of revenue $11,709,944 across 8 lines filed
VIII-1c Fundraising events$2,552,570
VIII-1f All other contributions, gifts and grants$3,437
VIII-1h Total contributions, gifts and grants$2,556,007
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $9,307,965$9,307,965
VIII-3 Investment incomeExcluded from tax $533,450$533,450
VIII-7 Net gain or loss on sales of assetsExcluded from tax $182,044$182,044
VIII-8 Net income from fundraising eventsExcluded from tax −$869,522−$869,522
VIII-12 Total revenueRelated to mission $9,307,965 · Unrelated business $0 · Excluded from tax −$154,028$11,709,944
Part IX · Statement of functional expenses $14,410,360 across 17 lines filed
IX-2 Grants to domestic individualsPrograms $810,356$810,356
IX-5 Pay of current officers, directors and key staffPrograms $346,800 · Management $60,000$406,800
IX-7 Other salaries and wagesPrograms $745,904 · Management $75,400$821,304
IX-9 Other employee benefitsPrograms $572,633 · Management $27,361$599,994
IX-10 Payroll taxesPrograms $64,918 · Management $8,044$72,962
IX-11b Legal feesManagement $1,852$1,852
IX-11c Accounting feesManagement $6,000$6,000
IX-11f Investment management feesManagement $24,614$24,614
IX-11g Other fees for servicesPrograms $2,553,727 · Management $430,401$2,984,128
IX-12 Advertising and promotionPrograms $320,952$320,952
IX-13 Office expensesPrograms $193,986 · Management $14,613$208,599
IX-14 Information technologyPrograms $6,240 · Management $588,371$594,611
IX-17 TravelPrograms $205,211 · Management $30,016$235,227
IX-19 Conferences, conventions and meetingsManagement $18,940$18,940
IX-21 Payments to affiliatesManagement $1,000,000$1,000,000
IX-24 Other expenses (24a–d)Programs $6,295,817$6,295,817
IX-24e All other expensesPrograms $2,841 · Management $5,363$8,204
IX-25 Total functional expensesPrograms $12,119,385 · Management $2,290,975 · Fundraising $0$14,410,360
Part X · Balance sheet $25,544,235 assets, 15 lines filed
X-1 Cash, non-interest-bearingStart of year $8,444,623$10,231,988
X-4 Accounts receivableStart of year $1,032,668$1,401,983
X-9 Prepaid expenses and deferred chargesStart of year $538,205$1,166,958
X-10c Land, buildings and equipment, netStart of year $0$0
X-11 Publicly traded securitiesStart of year $11,730,250$12,743,306
X-15 Other assetsStart of year $27,021$0
X-16 Total assetsStart of year $21,772,767$25,544,235
X-17 Accounts payable and accrued expensesStart of year $1,347,751$7,057,935
X-19 Deferred revenueStart of year $5,064,553$4,949,074
X-25 Other liabilitiesStart of year $0$555,004
X-26 Total liabilitiesStart of year $6,412,304$12,562,013
X-27 Net assets without donor restrictionsStart of year $13,590,529$11,402,085
X-28 Net assets with donor restrictionsStart of year $1,769,934$1,580,137
X-32 Total net assets or fund balancesStart of year $15,360,463$12,982,222
X-33 Total liabilities and net assetsStart of year $21,772,767$25,544,235
Part XI · Reconciliation of net assets $12,982,222 net assets at year end
XI-1 Total revenue$11,709,944
XI-2 Total expenses$14,410,360
XI-3 Revenue less expenses−$2,700,416
XI-4 Net assets at start of year$15,360,463
XI-5 Net unrealized gains (losses) on investments$322,175
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$12,982,222

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

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