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Naifa - Florida INC FY2024 filing

Not tax-deductible

Cedar Falls, IA501(c)(6)Since 1968Mutual / membership EIN 59-0856103Revenue $551K in FY2024

On file with the IRSfl.naifa.org600 State St Ste A, 50613-3371 · Cedar Falls, IATax-exempt since Aug 1965

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Empowering financial professionals and consumers through world-class advocacy and education.

501(c)(6) business league; gifts are not tax-deductible as charitable contributions.
$17K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Pay: Part VII

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
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
2 of 6
filings with a surplus
Average deficit $18K a year · 3% of revenue · last 6 filings
Concern: a surplus in 2 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Pay to officers and key staff
$17K
to officers and key staff · 3% of spending
Looks good: pay to officers and key staff is 3% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
3 mo
of spending, in cash
Plus $400K in investments, Pt X · Ln 11–13
Fine: 2.9 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$177K
28% of total assets
Looks good: liabilities are 28% of assets; 50% or less.
Pt X · Ln 26
Independent board members
10
of 10 voting members
Looks good: 10 of 10 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$551K
+12% vs prior year
Spent
$484K
Net assets
$459K
By yearFY2020–FY2025
Revenue
$551K
FY2024▲ +12%
Tap a bar for its year
Revenue by fiscal year
FY2020$640K
FY2021$613K
FY2022$608K
FY2023$491K
FY2024$551K
FY2025$499K
Expenses
$484K
FY2024▼ -14%
Tap a bar for its year
Expenses by fiscal year
FY2020$655K
FY2021$653K
FY2022$692K
FY2023$563K
FY2024$484K
FY2025$465K
Net assets
$459K
FY2024▲ +35%
Tap a bar for its year
Net assets by fiscal year
FY2020$588K
FY2021$585K
FY2022$402K
FY2023$340K
FY2024$459K
FY2025$518K

From the FY2024 Form 990 · see the original

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You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Aug 1965.

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

Who runs it and what they're paid

11 people listed on the 990; $17K paid to officers and key staff.

Part VII, Section A · reportable compensation
$16,547Pt VII · Sec A
$0Pt VII · Sec A
Grace Staten
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Tom Henry
Director
$0Pt VII · Sec A
Jeff Chernoff
Past President
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Tom Ashley$16,547$88,100$88,100$85,500$91,812

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 education for licensing and continuing education for insurance professionals.

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Provided by the organization

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1 program · in their own filed words · FY2024
01

To promote education and professionalism in preparation for licensing examination and maintenance of continuing education required by florida law.

Pt IX · col B

Funders

Who pays for it.

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

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$551K
Ln 12
Fees for servicesLn 2g$509K
Other incomeLn 4–11$27K
Investment incomeLn 3$15K
Money outPt IX
$484K
Ln 25
Owns and owesPt X
$459K
net assets · Ln 32
Cash and savingsLn 1–2$116K
Total assetsLn 16$636K
LiabilitiesLn 26$177K
PeoplePt VI, VII
11
listed · VII A
PaidVII A1
Voting boardVI 1a10
IndependentVI 1b10
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$509K
Investment incomeLn 3$15K
Other incomeLn 4–11$27K
Gains on assetsLn 7$5K
Total revenueLn 12$551K
Assets in detailPt X, end of year
CashLn 1$54K
SavingsLn 2$63K
Cash and savings togetherLn 1–2$116K
InvestmentsLn 11–13$400K
Land, buildings, equipmentLn 10c$0
Total assetsLn 16$636K
LiabilitiesLn 26$177K
Net assetsLn 32$459K
OperationsPt I, VI
EmployeesI 50
VolunteersI 635
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$74K$116K
InvestmentsLn 11–13$363K$400K
Land, buildings, equipmentLn 10c$1K$0
Total assetsLn 16$528K$636K
LiabilitiesLn 26$189K$177K
Net assetsLn 32$340K$459K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$17K
Other salaries and wagesLn 7$22K
Other employee benefitsLn 9$8K
Payroll taxesLn 10$3K
Management feesLn 11a$162K
Accounting feesLn 11c$6K
Lobbying feesLn 11d$43K
Investment management feesLn 11f$5K
Other fees for servicesLn 11g$43K
Advertising and promotionLn 12$4K
Office expensesLn 13$5K
RoyaltiesLn 15$21K
TravelLn 17$13K
Conferences, conventions and meetingsLn 19$15K
Depreciation, depletion and amortizationLn 22$1K
InsuranceLn 23$10K
Other expenses (24a–d)Ln 24$102K
All other expensesLn 24e$2K
Total functional expensesLn 25$484K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $499K$465K$34K$518K 990 PDF
FY2024 Viewing $551K$484K$67K$459K 990 PDF
FY2023 $491K$563K−$71K$340K 990 PDF
FY2022 $608K$692K−$84K$402K 990 PDF
FY2021 $613K$653K−$41K$585K 990 PDF
FY2020 $640K$655K−$15K$588K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $550,666 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $488,858$508,690
I-10 Investment incomePrior year $1,842$15,402
I-11 Other revenuePrior year $379$26,574
I-12 Total revenuePrior year $491,079$550,666
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 $239,391$49,824
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $323,175$434,079
I-18 Total expensesPrior year $562,566$483,903
I-19 Revenue less expensesPrior year −$71,487$66,763
Part VI · Governance 10 of 10 board members independent, no flags
VI-1a Voting members of the governing body10
VI-1b Independent voting members10
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 $550,666 across 6 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $508,690$508,690
VIII-3 Investment incomeExcluded from tax $10,672$10,672
VIII-5 RoyaltiesExcluded from tax $53$53
VIII-7 Net gain or loss on sales of assetsExcluded from tax $4,730$4,730
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $26,521$26,521
VIII-12 Total revenueRelated to mission $535,211 · Unrelated business $0 · Excluded from tax $15,455$550,666
Part IX · Statement of functional expenses $483,903 across 18 lines filed
IX-5 Pay of current officers, directors and key staff$16,547
IX-7 Other salaries and wages$21,830
IX-9 Other employee benefits$7,989
IX-10 Payroll taxes$3,458
IX-11a Management fees$162,500
IX-11c Accounting fees$6,200
IX-11d Lobbying fees$43,000
IX-11f Investment management fees$4,870
IX-11g Other fees for services$43,495
IX-12 Advertising and promotion$4,329
IX-13 Office expenses$5,182
IX-15 Royalties$20,800
IX-17 Travel$12,862
IX-19 Conferences, conventions and meetings$14,910
IX-22 Depreciation, depletion and amortization$1,061
IX-23 Insurance$10,158
IX-24 Other expenses (24a–d)$102,471
IX-24e All other expenses$2,241
IX-25 Total functional expenses$483,903
Part X · Balance sheet $635,526 assets, 15 lines filed
X-1 Cash, non-interest-bearingStart of year $13,102$53,510
X-2 Savings and temporary cash investmentsStart of year $61,161$62,719
X-4 Accounts receivableStart of year $36,891$40,372
X-8 Inventories for sale or useStart of year $51,405$67,416
X-9 Prepaid expenses and deferred chargesStart of year $1,017$11,392
X-10c Land, buildings and equipment, netStart of year $1,060$0
X-11 Publicly traded securitiesStart of year $363,495$400,117
X-16 Total assetsStart of year $528,131$635,526
X-17 Accounts payable and accrued expensesStart of year $69,744$58,031
X-19 Deferred revenueStart of year $57,719$57,604
X-25 Other liabilitiesStart of year $61,148$60,972
X-26 Total liabilitiesStart of year $188,611$176,607
X-27 Net assets without donor restrictionsStart of year $339,520$458,919
X-32 Total net assets or fund balancesStart of year $339,520$458,919
X-33 Total liabilities and net assetsStart of year $528,131$635,526
Part XI · Reconciliation of net assets $458,919 net assets at year end
XI-1 Total revenue$550,666
XI-2 Total expenses$483,903
XI-3 Revenue less expenses$66,763
XI-4 Net assets at start of year$339,520
XI-5 Net unrealized gains (losses) on investments$52,636
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$458,919

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

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