Form 990 for tax year 2025

Revenue

Part VIII, the statement of revenue.

• 1d · Related organizations

  $97,441

• 2a · Program service revenue: MANAGEMENT FEE

  total $13,422,433 · related or exempt $13,422,433

• 3 · Investment income

  total $2,767 · excluded $2,767

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $22,000 · program services $22,000

• 5 · Compensation of officers, directors and key employees

  total $1,946,792 · program services $1,946,792

• 7 · Other salaries and wages

  total $4,267,031 · program services $4,267,031

• 8 · Pension plan contributions

  total $175,809 · program services $175,809

• 9 · Other employee benefits

  total $561,098 · program services $561,098

• 10 · Payroll taxes

  total $381,014 · program services $381,014

• 11b · Fees: legal

  total $127,938 · management and general $127,938

• 11c · Fees: accounting

  total $186,950 · management and general $186,950

• 11g · Fees: other

  total $2,042,505 · program services $2,042,505

• 12 · Advertising and promotion

  total $6,321 · program services $6,321

• 13 · Office expenses

  total $11,668 · program services $11,668

• 14 · Information technology

  total $1,762,637 · program services $1,762,637

• 17 · Travel

  total $44,968 · program services $44,968

• 19 · Conferences, conventions and meetings

  total $25,758 · program services $25,758

• 24a · Other expenses: TELECOMMUNICATIONS

  total $1,513,439 · program services $1,513,439

• 24b · Other expenses: RECRUITING

  total $158,692 · program services $158,692

• 24c · Other expenses: DUES AND SUBSCRIPTIONS

  total $101,971 · program services $101,971

• 24d · Other expenses: SUPPLIES

  total $52,194 · program services $52,194

• 24e · All other expenses

  total $139,876 · management and general $139,876

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $280,874

• 9 · Prepaid expenses and deferred charges

  beginning of year $535,320 · end of year $740,596

• 11 · Investments: publicly traded securities

  beginning of year $373,845 · end of year $109,181

• 12 · Investments: other securities

  beginning of year $163,015,249 · end of year $213,740,952

• 15 · Other assets

  beginning of year $173,052 · end of year $185,670

• 17 · Accounts payable and accrued expenses

  beginning of year $858,178 · end of year $810,745

• 25 · Other liabilities

  beginning of year $504,913 · end of year $224,702

• 27 · Net assets without donor restrictions

  beginning of year $159,348,925 · end of year $209,378,566

• 28 · Net assets with donor restrictions

  beginning of year $3,666,324 · end of year $4,362,386

The filer's explanations (Part III)

PART I, LINE 4B

THE ORGANIZATION MAINTAINS A NONQUALIFIED DEFERRED COMPENSATION PLAN ESTABLISHED UNDER SECTION 457(F) OF THE INTERNAL REVENUE CODE FOR ITS CHIEF EXECUTIVE OFFICER, TO WHICH THE ORGANIZATION MAKES CONTRIBUTIONS. DURING THE YEAR ENDED DECEMBER 31, 2025, THE ORGANIZATION CONTRIBUTED $100,000 TO THE PLAN.

PART I, LINE 3

THE ORGANIZATION MAINTAINS A WRITTEN COMPENSATION PHILOSOPHY FOR ALL EMPLOYEES, INCLUDING TOP MANAGEMENT OFFICIALS, THAT ADDRESSES ALL ELEMENTS OF COMPENSATION, INCLUDING MERIT BONUSES. THE MANAGEMENT DEVELOPMENT & COMPENSATION COMMITTEE, WHICH IS INDEPENDENT WITH RESPECT TO ALL COMPENSATION DECISIONS, IS CHARGED WITH MANAGING THE PROCESS AND REPORTING TO THE BOARD. THE CHAIR OF THE BOARD IS RESPONSIBLE FOR CONDUCTING THE ANNUAL PERFORMANCE REVIEW OF THE CEO AND THE CEO IS RESPONSIBLE FOR CONDUCTING THE ANNUAL PERFORMANCE REVIEWS OF ALL OTHER TOP MANAGEMENT OFFICIALS. A MERIT BONUS FOR CERTAIN MANAGEMENT MAY BE APPROVED BASED ON PERFORMANCE CRITERIA AND GOALS. THE COMPENSATION OF EACH OF THE TOP MANAGEMENT OFFICIALS IS REVIEWED BY THE MANAGEMENT DEVELOPMENT & COMPENSATION COMMITTEE USING COMPARATIVE DATA. IN ADDITION, DURING 2025, THE MANAGEMENT DEVELOPMENT & COMPENSATION COMMITTEE RECEIVED A REPORT FROM AN INDEPENDENT COMPENSATION CONSULTANT REGARDING EXECUTIVE COMPENSATION.

PART II, (B)(III):

INCLUDES VESTED AMOUNTS OF CONTRIBUTIONS PREVIOUSLY MADE TO A 457(B) PLAN.