Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1d · Related organizations

  $115,501

• 1f · All other contributions, gifts and grants

  $474,693

• 2a · Program service revenue: SPONSORSHIPS

  total $82,250 · excluded $82,250

• 2b · Program service revenue: REGISTRATION FEES

  total $17,817 · related or exempt $17,817

• 3 · Investment income

  total $653,779 · excluded $653,779

• 5 · Royalties

  total $2,166 · excluded $2,166

• 7a · Gross sales of assets other than inventory

  securities $11,137,382

• 7b · Less cost or other basis and sales expenses

  securities $9,887,534

• 7c · Gain or loss

  securities $1,249,848

• 7d · Net gain or loss

  total $1,249,848 · excluded $1,249,848

• 8a · Fundraising events: gross income

  $428,604

• 8b · Fundraising events: direct expenses

  $15,728

• 8c · Net income from fundraising events

  total $412,876 · excluded $412,876

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $51,392 · program services $51,392

• 5 · Compensation of officers, directors and key employees

  total $449,199 · program services $129,489 · management and general $105,460 · fundraising $214,250

• 7 · Other salaries and wages

  total $133,352 · program services $39,117 · management and general $25,860 · fundraising $68,375

• 9 · Other employee benefits

  total $244,425 · program services $59,979 · management and general $141,796 · fundraising $42,650

• 11f · Fees: investment management

  total $85,100 · management and general $85,100

• 11g · Fees: other

  total $194,521 · management and general $177,966 · fundraising $16,555

• 12 · Advertising and promotion

  total $1,121 · fundraising $1,121

• 13 · Office expenses

  total $199,601 · program services $11,180 · management and general $133,078 · fundraising $55,343

• 17 · Travel

  total $15,386 · program services $3,469 · management and general $1,028 · fundraising $10,889

• 19 · Conferences, conventions and meetings

  total $34,656 · program services $5,417 · management and general $14,140 · fundraising $15,099

• 24a · Other expenses: OTHER EXPENSES

  total $297,814 · program services $96,797 · management and general $48,188 · fundraising $152,829

• 24b · Other expenses: DUES & SUBSCRIPTIONS

  total $23,876 · program services $962 · management and general $11,363 · fundraising $11,551

• 24c · Other expenses: BAD DEBT EXPENSE

  total $20,250 · fundraising $20,250

• 24d · Other expenses: INCOME TAX EXPENSE

  total $777 · management and general $777

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $375,182 · end of year $77,358

• 3 · Pledges and grants receivable

  beginning of year $0 · end of year $152,184

• 4 · Accounts receivable

  beginning of year $99,993 · end of year $26,720

• 9 · Prepaid expenses and deferred charges

  beginning of year $5,000 · end of year $64,711

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

  $265,363

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

  $265,363

• 10c · Land, buildings and equipment, net

  beginning of year $0 · end of year $0

• 11 · Investments: publicly traded securities

  beginning of year $26,778,449 · end of year $25,345,123

• 15 · Other assets

  beginning of year $115,275 · end of year $161,178

• 17 · Accounts payable and accrued expenses

  beginning of year $74,625 · end of year $85,320

• 19 · Deferred revenue

  beginning of year $500 · end of year $0

• 25 · Other liabilities

  beginning of year $6,300,130 · end of year $835,579

• 27 · Net assets without donor restrictions

  beginning of year $20,564,750 · end of year $24,317,447

• 28 · Net assets with donor restrictions

  beginning of year $433,894 · end of year $588,928

The filer's explanations (Part III)

PART I, LINE 3

COMPENSATION OF ALL OFFICERS, KEY EMPLOYEES, AND HIGHEST COMPENSATED INDIVIDUALS INCLUDED IN PART VII AND SCHEDULE J, PART II, ARE PAID BY THE AMERICAN SOCIETY OF ASSOCIATION EXECUTIVES, A RELATED 501(C)6 ORGANIZATION. THE ASAE & THE FOUNDATION COMPENSATION PROGRAM IS TARGETED TO PROVIDE COMPETITIVE TOTAL COMPENSATION LEVELS (INCLUDING BOTH ANNUAL CASH COMPENSATION AND SUPPLEMENTAL BENEFITS) FOR HIGHLY COMPETITIVE PERFORMANCE. COMPENSATION IS BENCHMARKED AGAINST DATA DEVELOPED BY INDEPENDENT CONSULTANTS USING SURVEYS COMPRISED OF ORGANIZATIONS WITH SIMILAR INDIVIDUAL MEMBERSHIP AND GENERAL NON-PROFIT ORGANIZATIONS, BOTH REGIONAL AND NATIONAL. THESE ORGANIZATIONS ARE SIMILAR TO ASAE & THE FOUNDATION IN MAGNITUDE, COMPLEXITY, AND SCOPE OF RESPONSIBILITY, AND THEY ARE REPRESENTATIVE OF THE VARIOUS MARKETS IN WHICH ASAE & THE FOUNDATION COMPETE FOR TALENT. TOTAL CASH COMPENSATION IS TARGETED AT THE COMPETITIVE RANGE OF 85% - 115% OF THE 75TH PERCENTILE OF DEVELOPED MARKET RATES, DEPENDING ON TENURE AND EXPERIENCE OF THE CEO.

PART I, LINE 5

THE FOUNDATION'S CEO IS ALSO CEO OF THE AMERICAN SOCIETY OF ASSOCIATION EXECUTIVES, A RELATED SECTION 501(C)(6) ORGANIZATION. THE CEO'S COMPENSATION, ACCORDINGLY, IS DETERMINED THROUGH A PROCESS CONDUCTED BY ASAE. THAT PROCESS IS AS FOLLOWS: THE CEO'S ANNUAL INCENTIVE AMOUNT IS DETERMINED BASED ON THE MARKET PRACTICES OF THE COMPARABLE GROUP AS DESCRIBED IN THE ANSWER (ON ASAE'S FORM 990) TO PART VI, QUESTION 15. THE ANNUAL INCENTIVE AWARD IS BASED ON THE ACHIEVEMENT OF PREDETERMINED FINANCIAL, STRATEGIC, BUSINESS, AND INDIVIDUAL GOALS OF BOTH ASAE AND THE FOUNDATION. THE PRIMARY QUANTITATIVE FACTORS REVIEWED BY THE BOARD OF DIRECTORS INCLUDE AS FINANCIAL MEASURES NET INCOME, REVENUE, TOTAL MEMBERSHIP, AND ACHIEVEMENT OF OTHER BOARD PRIORITIES AS DEFINED EACH YEAR BY THE BOARD OF DIRECTORS. ANNUAL INCENTIVE PAY IS NOT DETERMINED AS A SPECIFIC PERCENTAGE OF REVENUES; RATHER, REVENUES ARE UTILIZED AS MERELY ONE FACTOR WITH REGARD TO OVERALL PERFORMANCE.

PART I, LINE 6

THE FOUNDATION'S CEO IS ALSO CEO OF THE AMERICAN SOCIETY OF ASSOCIATION EXECUTIVES, A RELATED SECTION 501(C)(6) ORGANIZATION. THE CEO'S CONTINGENT COMPENSATION, ACCORDINGLY, IS DETERMINED THROUGH A PROCESS CONDUCTED BY ASAE. THAT PROCESS IS AS FOLLOWS: THE CEO'S TARGET ANNUAL INCENTIVE AMOUNT IS DETERMINED BASED ON THE MARKET PRACTICES OF THE COMPARABLE GROUP AS DESCRIBED IN THE ANSWER (ON ASAE'S FORM 990) TO PART VI, QUESTION 15. THE ANNUAL INCENTIVE AWARD IS BASED ON THE ACHIEVEMENT OF PREDETERMINED FINANCIAL, STRATEGIC, BUSINESS, AND INDIVIDUAL GOALS OF BOTH ASAE AND THE FOUNDATION. THE PRIMARY QUANTITATIVE FACTORS REVIEWED BY THE BOARD OF DIRECTORS INCLUDE AS FINANCIAL MEASURES NET INCOME, REVENUE, TOTAL MEMBERSHIP, AND ACHIEVEMENT OF OTHER BOARD PRIORITIES AS DEFINED EACH YEAR BY THE BOARD OF DIRECTORS. ANNUAL INCENTIVE PAY IS NOT DETERMINED AS A SPECIFIC PERCENTAGE OF NET EARNINGS; RATHER, NET EARNINGS ARE UTILIZED AS MERELY ONE FACTOR WITH REGARD TO OVERALL PERFORMANCE.

PART I, LINE 7

THE CEO HAS DISCRETION TO PROVIDE STAFF WITH BONUSES BASED ON THE OVERALL ORGANIZATIONAL PERFORMANCE. THIS IS A COMBINATION OF METRICS FOR THE ORGANIZATION. THERE MAY BE ADDITIONAL PERFORMANCE BONUSES GRANTED BASED ON SPECIFIC ACHIEVEMENT OF GOALS FOR A DEPARTMENT AND/OR INDIVIDUAL.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

• ASAE BUSINESS SERVICES INC

  C · INSURANCE AND OTHER SERVICES · DC

• ASAE INSURANCE COMPANY

  C · INSURANCE AND OTHER SERVICES · DC