The Nacs Foundation

Tax-deductible

Alexandria, VA501(c)(3)EmploymentEIN 54-1723339Revenue $1.2M in FY2024

On file with the IRSconveniencecares.org1600 Duke St Ste 700, 22314-3421 · Alexandria, VATax-exempt since May 2016Supporting org, Type I — 509(a)(3)

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To educate its members and the public on issues affecting the convenience store industry.

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
Run by 10 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · 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
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
2 of 6
filings with a surplus
Average deficit $14K a year · 1% of revenue · last 6 filings
Concern: a surplus in 2 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Concern: 0.4 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $1.2M
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$205K
56% of total assets
Fine: liabilities are 56% of assets; 50% to 65%.
Pt X · Ln 26
Independent board members
11
of 11 voting members
Looks good: 11 of 11 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.2M
-15% vs prior year
Spent
$1.2M
To programs
100%
Net assets
$163K
By yearFY2019–FY2024
Revenue
$1.2M
FY2024▼ -15%
Tap a bar for its year
Revenue by fiscal year
FY2019$1.4M
FY2020$1.6M
FY2021$1.5M
FY2022$1.1M
FY2023$1.5M
FY2024$1.2M
Expenses
$1.2M
FY2024▼ -15%
Tap a bar for its year
Expenses by fiscal year
FY2019$1.5M
FY2020$1.6M
FY2021$1.5M
FY2022$1.1M
FY2023$1.5M
FY2024$1.2M
Net assets
$163K
FY2024▲ +3%
Tap a bar for its year
Net assets by fiscal year
FY2019$224K
FY2020$199K
FY2021$172K
FY2022$142K
FY2023$159K
FY2024$163K

From the FY2024 Form 990 · 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: FY2024. IRS ruling in May 2016.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $1.2M Management & general 0% · $3K

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

14 people listed on the 990.

Part VII, Section A · reportable compensation
Chairman Until 10/24, Past-Chairman
$0Pt VII · Sec A
Past-Chairman
$0Pt VII · Sec A
Past-Chairman Until 10/24
$0Pt VII · Sec A
$0Pt VII · Sec A
Trustee, Chairman as of 10/24
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See The Nacs Foundation 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 15aNo

Programs and updates

Educates members and the public on convenience store industry issues.

Provided by the organization

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2 programs · $1.2M · in their own filed words · FY2024
01

The purpose of the community and industry advancement program is to support education and research that builds industry capabilities, knowledge, image and positive impacts to the communities we serve.

$1.2Mprogram expense
02

The internship program's purpose to broaden public knowledge of the convenience store industry and enhance support of nacs' mission.

$500program 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
Total grants receivedfrom 2 funders$1.2M
Grants paid · 17 grants · $3.2M · 2019–2023
NacsVA · FY2022$944,500
Unitemized GrantFY2022$21,573
Unitemized GrantFY2022$500
NacsVA · FY2021$960,239
Unitemized GrantFY2021$28,593
Unitemized GrantFY2021$500
Unitemized GrantFY2020$33,000
Unitemized GrantFY2020$1,000
Unitemized GrantFY2019$28,407
Unitemized GrantFY2019$769

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$1.2M
Ln 12
Gifts and grantsLn 1h$1.2M
Investment incomeLn 3$6K
Money outPt IX
$1.2M
Ln 25
Programscol B$1.2M
Managementcol C$3K
Owns and owesPt X
$163K
net assets · Ln 32
Cash and savingsLn 1–2$41K
Total assetsLn 16$369K
LiabilitiesLn 26$205K
PeoplePt VI, VII
14
listed · VII A
PaidVII A0
Voting boardVI 1a11
IndependentVI 1b11
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.2M
Investment incomeLn 3$6K
Total revenueLn 12$1.2M
Assets in detailPt X, end of year
CashLn 1$41K
Cash and savings togetherLn 1–2$41K
InvestmentsLn 11–13$122K
Other assetsLn 15$205K
Total assetsLn 16$369K
LiabilitiesLn 26$205K
Net assetsLn 32$163K
OperationsPt I, VI
EmployeesI 50
VolunteersI 610
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$36K$41K
InvestmentsLn 11–13$117K$122K
Total assetsLn 16$161K$369K
LiabilitiesLn 26$3K$205K
Net assetsLn 32$159K$163K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$500$500
Accounting feesLn 11c$3K$3K
Other expenses (24a–d)Ln 24$1.2M$1.2M$439
Total functional expensesLn 25$1.2M$1.2M$3K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $1.2M$1.2M$5K$163K 990 PDF
FY2023 $1.5M$1.5M$8K$159K 990 PDF
FY2022 $1.1M$1.1M−$18K$142K 990 PDF
FY2021 $1.5M$1.5M−$25K$172K 990 PDF
FY2020 $1.6M$1.6M−$28K$199K 990 PDF
FY2019 $1.4M$1.5M−$26K$224K 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 FY2024 990 (6 parts)
Part I · Summary $1,243,402 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,465,117$1,237,733
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $1,579$5,669
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $1,466,696$1,243,402
I-13 Grants and similar amounts paidPrior year $250,500$500
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 $1,208,093$1,237,733
I-18 Total expensesPrior year $1,458,593$1,238,233
I-19 Revenue less expensesPrior year $8,103$5,169
Part VI · Governance 11 of 11 board members independent, 1 to look at
VI-1a Voting members of the governing body11
VI-1b Independent voting members11
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 $1,243,402 across 5 lines filed
VIII-1d Related organizations$1,228,527
VIII-1f All other contributions, gifts and grants$9,206
VIII-1h Total contributions, gifts and grants$1,237,733
VIII-3 Investment incomeExcluded from tax $5,669$5,669
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $5,669$1,243,402
Part IX · Statement of functional expenses $1,238,233 across 3 lines filed
IX-2 Grants to domestic individualsPrograms $500$500
IX-11c Accounting feesManagement $2,850$2,850
IX-24 Other expenses (24a–d)Programs $1,234,444 · Management $439$1,234,883
IX-25 Total functional expensesPrograms $1,234,944 · Management $3,289 · Fundraising $0$1,238,233
Part X · Balance sheet $368,681 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $35,831$41,405
X-11 Publicly traded securitiesStart of year $116,596$122,085
X-15 Other assetsStart of year $8,725$205,191
X-16 Total assetsStart of year $161,152$368,681
X-17 Accounts payable and accrued expensesStart of year $2,650$9,564
X-25 Other liabilitiesStart of year $0$195,627
X-26 Total liabilitiesStart of year $2,650$205,191
X-28 Net assets with donor restrictionsStart of year $158,502$163,490
X-32 Total net assets or fund balancesStart of year $158,502$163,490
X-33 Total liabilities and net assetsStart of year $161,152$368,681
Part XI · Reconciliation of net assets $163,490 net assets at year end
XI-1 Total revenue$1,243,402
XI-2 Total expenses$1,238,233
XI-3 Revenue less expenses$5,169
XI-4 Net assets at start of year$158,502
XI-5 Net unrealized gains (losses) on investments−$181
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$163,490

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

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