Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1f · All other contributions, gifts and grants

  $2,353,282

• 2a · Program service revenue: DUES

  total $23,496,347 · related or exempt $23,496,347

• 2b · Program service revenue: CONVENTION INCOME

  total $22,767 · related or exempt $22,767

• 3 · Investment income

  total $1,370,185 · excluded $1,370,185

• 6a · Gross rents

  real property $3,600

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $3,600

• 6d · Net rental income or loss

  total $3,600 · excluded $3,600

• 11a · Other revenue: MEMBER BENEFITS REVENUE

  total $71,361 · unrelated business $71,361

• 11d · All other revenue

  total $68,755 · related or exempt $68,755

• 11e · Other revenue, total

  $140,116

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $1,310,068

• 5 · Compensation of officers, directors and key employees

  total $2,191,966

• 7 · Other salaries and wages

  total $10,017,240

• 8 · Pension plan contributions

  total $1,026,749

• 9 · Other employee benefits

  total $2,104,937

• 10 · Payroll taxes

  total $864,749

• 11b · Fees: legal

  total $88,743

• 11c · Fees: accounting

  total $60,000

• 11f · Fees: investment management

  total $15,000

• 11g · Fees: other

  total $1,891,814

• 12 · Advertising and promotion

  total $236,104

• 13 · Office expenses

  total $584,920

• 14 · Information technology

  total $466,185

• 16 · Occupancy

  total $427,518

• 17 · Travel

  total $979,755

• 19 · Conferences, conventions and meetings

  total $556,525

• 22 · Depreciation, depletion and amortization

  total $466,801

• 23 · Insurance

  total $53,559

• 24a · Other expenses: SUPPLIES AND SERVICES

  total $66,864

• 24b · Other expenses: HOSPITALITY AND TRIBUTE

  total $60,957

• 24c · Other expenses: BANK AND MISC FEES

  total $50,985

• 24d · Other expenses: CONTRIBUTIONS AND GIFTS

  total $34,691

• 24e · All other expenses

  total $170,858

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $7,985,509 · end of year $5,246,477

• 4 · Accounts receivable

  beginning of year $1,627,772 · end of year $905,487

• 7 · Other notes and loans receivable

  beginning of year $2,550,392 · end of year $2,319,246

• 8 · Inventories for sale or use

  beginning of year $38,919 · end of year $38,813

• 9 · Prepaid expenses and deferred charges

  beginning of year $779,285 · end of year $413,294

• 10a · Land, buildings and equipment: cost or other basis

  $11,373,829

• 10b · Land, buildings and equipment: accumulated depreciation

  $3,753,119

• 10c · Land, buildings and equipment, net

  beginning of year $6,844,695 · end of year $7,620,710

• 11 · Investments: publicly traded securities

  beginning of year $25,280,018 · end of year $31,675,998

• 15 · Other assets

  beginning of year $5,314,042 · end of year $7,730,555

• 17 · Accounts payable and accrued expenses

  beginning of year $1,167,731 · end of year $1,282,312

• 19 · Deferred revenue

  beginning of year $79,816 · end of year $90,409

• 25 · Other liabilities

  beginning of year $3,593,303 · end of year $4,715,381

• 27 · Net assets without donor restrictions

  beginning of year $43,241,271 · end of year $47,935,450

• 28 · Net assets with donor restrictions

  beginning of year $2,338,511 · end of year $1,927,028

The filer's explanations (Part III)

PART I, LINE 3

PER THE MSEA BYLAWS, APPOINTMENT OF THE EXECUTIVE DIRECTOR BY THE BOARD OF DIRECTORS SHALL BE FOR TERMS NOT TO EXCEED FOUR (4) YEARS EACH. COMPENSATION OF THE EXECUTIVE DIRECTOR SHALL BE DETERMINED BY THE BOARD OF DIRECTORS BASED ON A RECOMMENDATION OF THE PRESIDENT. IN THE PROCESS OF DETERMINING COMPENSATION OF THE EXECUTIVE DIRECTOR, THE ASSOCIATION'S GROWTH, FINANCIAL POSITION, BUDGET AND STAFF CONTRACTS ARE CONSIDERED.

FORM 990, PAGE 7, PART VII, LINE 5:

CHERYL BOST - PRESIDENT THROUGH 7/31/2024 ($173,907) AND THERESA DUDLEY - VICE PRESIDENT THROUGH 7/31/2024 ($138,531) WERE PAID BY BALTIMORE COUNTY AND PRINCE GEORGE'S COUNTY SCHOOL SYSTEMS, RESPECTIVELY, THE SCHOOL SYSTEMS WHERE THEY ARE BOTH EMPLOYED AS TEACHERS. THE FILING ORGANIZATION IS BILLED BY THE BALTIMORE COUNTY AND PRINCE GEORGE'S COUNTY SCHOOL SYSTEMS FOR THE TIME SPENT ON THE ASSOCIATION'S BUSINESS. THE AMOUNTS REPORTED ARE BASED ON THE RESPECTIVE SYSTEM'S FISCAL YEAR.