Form 990 for tax year 2023
Filed by NATIONAL ASSOCIATION OF INVESTMENT COS.
Totals
- Total revenue
- $5,960,816
- Total expenses
- $5,376,951
- Contributions and grants received
- $4,445,875
- Grants paid
- $0
- Program service revenue
- $981,450
- Investment income
- $80,449
- Other revenue
- $453,042
- Total assets, end of year
- $4,858,506
- Total liabilities, end of year
- $239,816
- Net assets or fund balances, end of year
- $4,618,690
- Program services expenses (Part IX)
- $4,572,843
- Management and general expenses
- $804,108
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $4,572,843
Program services were 85.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1b · Membership dues
$1,805,875
-
1f · All other contributions, gifts and grants
$2,640,000
-
2a · Program service revenue: CONFERENCE SPONSORSHIP
total $780,000 · related or exempt $780,000
-
2b · Program service revenue: PROGRAM INCOME
total $150,450 · related or exempt $150,450
-
2c · Program service revenue: CONFERENCE REGISTRATIO
total $51,000 · related or exempt $51,000
-
3 · Investment income
total $80,449 · excluded $80,449
-
11a · Other revenue: OTHER INCOME
total $453,042 · unrelated business $453,042
-
11e · Other revenue, total
$453,042
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $2,770,331 · program services $2,354,780 · management and general $415,551
-
7 · Other salaries and wages
total $235,264 · program services $199,974 · management and general $35,290
-
9 · Other employee benefits
total $23,922 · program services $20,334 · management and general $3,588
-
10 · Payroll taxes
total $124,995 · program services $106,246 · management and general $18,749
-
11c · Fees: accounting
total $10,500 · program services $8,925 · management and general $1,575
-
11g · Fees: other
total $383,955 · program services $326,361 · management and general $57,594
-
12 · Advertising and promotion
total $101,865 · program services $86,585 · management and general $15,280
-
13 · Office expenses
total $25,557 · program services $21,724 · management and general $3,833
-
14 · Information technology
total $44,679 · program services $37,978 · management and general $6,701
-
16 · Occupancy
total $3,300 · program services $2,805 · management and general $495
-
17 · Travel
total $171,589 · program services $145,851 · management and general $25,738
-
22 · Depreciation, depletion and amortization
total $22,580 · program services $19,193 · management and general $3,387
-
23 · Insurance
total $7,414 · program services $6,302 · management and general $1,112
-
24a · Other expenses: PROGRAMS
total $1,377,463 · program services $1,173,279 · management and general $204,184
-
24b · Other expenses: DUES AND SUBSCRIPTIONS
total $43,761 · program services $37,197 · management and general $6,564
-
24c · Other expenses: OTHER EXPENSES
total $29,776 · program services $25,309 · management and general $4,467
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $592,803 · end of year $915,923
-
2 · Savings and temporary cash investments
beginning of year $550,939 · end of year $576,280
-
4 · Accounts receivable
beginning of year $439,000 · end of year $404,268
-
5 · Loans and receivables from officers and key people
beginning of year $1,555,000 · end of year $1,855,000
-
10a · Land, buildings and equipment: cost or other basis
$137,956
-
10b · Land, buildings and equipment: accumulated depreciation
$84,530
-
10c · Land, buildings and equipment, net
beginning of year $9,720 · end of year $53,426
-
12 · Investments: other securities
beginning of year $928,465 · end of year $1,053,059
-
15 · Other assets
beginning of year $550 · end of year $550
-
17 · Accounts payable and accrued expenses
beginning of year $57,296 · end of year $175,816
-
19 · Deferred revenue
beginning of year $108,925 · end of year $64,000
-
27 · Net assets without donor restrictions
beginning of year $3,910,256 · end of year $4,618,690
Mission and programs · 2023
Mission
TO ADVOCATE FOR AN INCREASE IN ACCESS TO CAPITAL FOR DIVERSE-OWNED ALTERNATIVE INVESTMENT FIRMS.
Activities or mission (Part I)
REPRESENTS THE INTERESTS OF DIVERSE-OWNED ALTERNATIVE INVESTMENT FIRMS.
-
NAIC ADMINISTERED VARIOUS PROGRAMS AND INITIATIVES DESIGNED TO INCREASE ACCESS TO CAPITAL FOR DIVERSE ALTERNATIVE INVESTMENT FIRMS BY EDUCATING INSTITUTIONAL INVESTORS AND OTHER KEY STAKEHOLDERS ABOUT THE STELLAR EXPERTISE AND RESULTS DELIVERED BY THESE OFTEN UNDERUTILIZED, YET HIGHLY QUALIFIED ASSET MANAGERS.
Expenses $4,572,843 · Revenue $981,450
As filed on the 2023 return.
Listed in Part VII
-
Robert GreeneROBERT GREENE
PRESIDENT & CEO
- Total calculated
- $1,031,175
- From this org
- $1,000,264
- From related orgs
- $0
- Other
- $30,911
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $550,264
- Bonus
- $0
- Other
- $450,000
- Deferred
- $13,200
- Nontaxable benefits
- $17,711
- Filer's total
- $1,031,175
-
Joseph HaslipJOSEPH HASLIP
CHAIRMAN
- Total calculated
- $0
- Hours/week
- 5
-
Michael SmartMICHAEL SMART
VICE CHAIRMAN
- Total calculated
- $0
- Hours/week
- 5
-
Lloyd MetzLLOYD METZ
TREASURER
- Total calculated
- $0
- Hours/week
- 5
-
Xavier GutierrezXAVIER GUTIERREZ
SECRETARY
- Total calculated
- $0
- Hours/week
- 5
-
Charles WillisCHARLES WILLIS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Chris AllenCHRIS ALLEN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Daphne DufresneDAPHNE DUFRESNE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Derek JonesDEREK JONES
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Fred EbrahemiFRED EBRAHEMI
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Ivelisse SimonIVELISSE SIMON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Juan SabaterJUAN SABATER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Kathlika FontesKATHLIKA FONTES
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Kola OlofinbobaKOLA OLOFINBOBA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Maura Reilly KennedyMAURA REILLY KENNEDY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Philip LoPHILIP LO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Tony LeeTONY LEE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Carmen Ortiz-McGheeCARMEN ORTIZ-MCGHEE
CHIEF OPERATING OFFICER
- Total calculated
- $611,928
- From this org
- $564,641
- From related orgs
- $0
- Other
- $47,287
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $344,641
- Bonus
- $0
- Other
- $220,000
- Deferred
- $2,600
- Nontaxable benefits
- $44,687
- Filer's total
- $611,928
-
Tina McIntyreTINA MCINTYRE
SVP & CHIEF FINANCIAL OFFICER
- Total calculated
- $476,179
- From this org
- $425,692
- From related orgs
- $0
- Other
- $50,487
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $275,692
- Bonus
- $0
- Other
- $150,000
- Deferred
- $13,200
- Nontaxable benefits
- $37,287
- Filer's total
- $476,179
-
Kristen PerlmanKRISTEN PERLMAN
DIRECTOR, MARKETING & COMMUNICATIONS
- Total calculated
- $223,130
- From this org
- $181,390
- From related orgs
- $0
- Other
- $41,740
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $145,140
- Bonus
- $0
- Other
- $36,250
- Deferred
- $7,250
- Nontaxable benefits
- $34,490
- Filer's total
- $223,130
-
Marissa MahoneyMARISSA MAHONEY
DIRECTOR, PARTNERSHIPS & ALLIANCES
- Total calculated
- $164,759
- From this org
- $150,058
- From related orgs
- $0
- Other
- $14,701
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $125,058
- Bonus
- $0
- Other
- $25,000
- Deferred
- $5,500
- Nontaxable benefits
- $9,201
- Filer's total
- $164,759
-
Dawn SimmonsDAWN SIMMONS
MEMBERSHIP COORDINATOR
- Total calculated
- $139,989
- From this org
- $106,355
- From related orgs
- $0
- Other
- $33,634
- Hours/week
- 40
-
Jennifer MooreJENNIFER MOORE
EXECUTIVE ASSISTANT
- Total calculated
- $123,171
- From this org
- $100,090
- From related orgs
- $0
- Other
- $23,081
- Hours/week
- 40
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 3 · Independent compensation consultant
- 3 · Form 990 of other organizations
- 3 · Written employment contract
- 3 · Compensation survey or study
- 3 · Approval by the board or compensation committee
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
No itemized grants to organizations on this return.
Taxable family on this return
Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.
Related partnerships
Part III: related organizations taxable as a partnership, with the filer's share.
-
COMMUNITAS CAPITAL
N/A · FACILITATES THE INVESTMENT IN OPERATING COMPANIES LOCATED IN LOW-INCOME COMM · DE · 99.99% owned
Directly controlled by NATIONAL ASSOCIATION OF INVESTMENT COMPANIES INC
Related corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
NAIC MANAGEMENT GROUP INC
C · FACILITATES THE ESTABLISHMENT OF EQUITY AND DEBT FINANCING VEHICLES. · DE · 100% owned
Directly controlled by NATIONAL ASSOCIATION OF INVESTMENT COMPANIES INC
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 14 November 2024
- IRS schema version
- 2023v5.1
- Source object
- 202433209349320268
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