Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1d · Related organizations

  $2,910,000

• 1f · All other contributions, gifts and grants

  $7,564,508

• 2a · Program service revenue: COUNTY NEWS

  total $1,225,488 · related or exempt $1,141,037 · unrelated business $84,451

• 2b · Program service revenue: COUNTY SERVICES

  total $43,828 · related or exempt $43,828

• 2f · All other program service revenue

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 3 · Investment income

  total $88,094 · excluded $88,094

• 5 · Royalties

  total $52,594 · excluded $52,594

• 6c · Rental income or loss

  real property $0 · personal property $0

• 7c · Gain or loss

  securities $0 · other assets $0

• 11d · All other revenue

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 11e · Other revenue, total

  $0

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $699,737 · program services $699,737

• 7 · Other salaries and wages

  total $4,108,133 · program services $3,006,103 · management and general $1,102,030

• 8 · Pension plan contributions

  total $150,535 · management and general $150,535

• 9 · Other employee benefits

  total $1,098,803 · program services $987,774 · management and general $111,029

• 10 · Payroll taxes

  total $92,236 · management and general $92,236

• 11a · Fees: management

  total $120,023 · management and general $120,023

• 11b · Fees: legal

  total $25,769 · management and general $25,769

• 11c · Fees: accounting

  total $75,101 · management and general $75,101

• 11f · Fees: investment management

  total $84,626 · management and general $84,626

• 11g · Fees: other

  total $652,995 · program services $652,995 · management and general $0 · fundraising $0

• 13 · Office expenses

  total $759,655 · program services $568,504 · management and general $191,151

• 14 · Information technology

  total $11,509 · management and general $11,509

• 16 · Occupancy

  total $732,577 · program services $306,540 · management and general $426,037

• 17 · Travel

  total $333,852 · program services $255,287 · management and general $78,565

• 18 · Travel or entertainment for public officials

  total $92,591 · management and general $92,591

• 19 · Conferences, conventions and meetings

  total $629,799 · program services $390,598 · management and general $239,201

• 22 · Depreciation, depletion and amortization

  total $144,397 · management and general $144,397

• 23 · Insurance

  total $40,721 · management and general $40,721

• 24a · Other expenses: Misc

  total $114,798 · management and general $114,798

• 24b · Other expenses: Dues and Subs

  total $53,917 · program services $7,038 · management and general $46,879

• 24c · Other expenses: Taxes

  total $874 · management and general $874

• 24d · Other expenses: Bad debt

  total $21 · management and general $21

• 24e · All other expenses

  total -$868,443 · program services -$514,972 · management and general -$353,471 · fundraising $0

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $2,881,030 · end of year $5,514,863

• 3 · Pledges and grants receivable

  beginning of year $1,564,466 · end of year $2,544,428

• 5 · Loans and receivables from officers and key people

  beginning of year $0 · end of year $0

• 6 · Loans and receivables from disqualified persons

  end of year $0

• 9 · Prepaid expenses and deferred charges

  beginning of year $69,133 · end of year $0

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

  $0

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

  $0

• 10c · Land, buildings and equipment, net

  end of year $0

• 11 · Investments: publicly traded securities

  beginning of year $1,766,874 · end of year $6,707,322

• 12 · Investments: other securities

  beginning of year $0

• 13 · Investments: program-related

  beginning of year $0

• 15 · Other assets

  beginning of year $0 · end of year $0

• 17 · Accounts payable and accrued expenses

  beginning of year $138,456 · end of year $206,238

• 19 · Deferred revenue

  beginning of year $2,480,929 · end of year $6,462,788

• 22 · Loans and payables to officers and key people

  end of year $0

• 25 · Other liabilities

  beginning of year $1,649,333 · end of year $3,249,353

• 27 · Net assets without donor restrictions

  beginning of year $130,475 · end of year $306,792

• 28 · Net assets with donor restrictions

  beginning of year $1,882,310 · end of year $4,541,442

The filer's explanations (Part III)

Schedule J, Part I, Line 7 Non-fixed payments

THE NACORF EXECUTIVE DIRECTOR HAS AN ANNUAL BONUS OPTION, WHICH IS TO BE BASED ON THE PERFORMANCE OBJECTIVES DETERMINED ANNUALLY BY THE NACO/RF OFFICERS. THE OFFICERS WILL EVALUATE HIS PERFORMANCE EACH MAY AND DETERMINE HIS ANNUAL BONUS AMOUNT. ADDITIONALLY, DURING EMPLOYEE PERFORMANCE REVIEWS, SUPERVISORS CAN RECOMMEND THAT EMPLOYEES RECEIVE ABOVE STANDARD MERIT INCREASES AND/OR PERFORMANCE BONUSES. THOSE RECOMMENDATIONS MUCH INCLUDE SPECIFIC JUSTIFICATION AND ARE SUBJECT TO REVIEW BY THE HR DIRECTOR AND ULTIMATELY THE EXECUTIVE DIRECTOR. THE BOARD DOES NOT APPROVE INDIVIDUAL GOALS OR BONUSES, WITH THE EXCEPTION OF THE EXECUTIVE DIRECTOR. HOWEVER, THE BOARD DOES APPROVE NACO'S STRATEGIC GOALS AND INITIATIVES, WHICH ARE THE BASIS FOR THE INDIVIDUAL BONUSES.

Schedule J, Part I, Line 3 SCHEDULE J, PART I, LINE 3

NACORF DOES NOT ITSELF MAKE ANY COMPENSATION DECISIONS, AS THE EXECUTIVE DIRECTOR IS EMPLOYED BY NACO, A RELATED ORGANIZATION. NACO MAKES USE OF THE FOLLOWING IN SETTING EXECUTIVE COMPENSATION: - COMPENSATION COMMITTEE - FORMS 990 OF OTHER ORGANIZATIONS - WRITTEN EMPLOYMENT CONTRACT - APPROVAL BY BOARD OR COMPENSATION COMMITTEE THE EXECUTIVE/COMPENSATION COMMITTEE RECOMMENDS THAT AMOUNT TO BE PAID, AND THE NACO BOARD OF DIRECTORS DECIDES AND APPROVES AT THE NACO ANNUAL BOARD MEETING.

Related corporations and trusts

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

• NACO FINANCIAL SERVICES CORP

  C Corporation · MANAGEMENT SR · DE

  Directly controlled by NA