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Nonprofiteer
← NRF FOUNDATION

Form 990 for tax year 2022

Filed by NRF FOUNDATION.

Totals

Total revenue
$10,843,365
Total expenses
$5,533,148
Contributions and grants received
$5,968,400
Grants paid
$636,612
Program service revenue
$5,990,245
Investment income
$193,880
Other revenue
-$1,309,160
Total assets, end of year
$18,080,185
Total liabilities, end of year
$5,351,098
Net assets or fund balances, end of year
$12,729,087
Program services expenses (Part IX)
$4,695,492
Management and general expenses
$837,656
Fundraising expenses
$0
Program service expenses (Part III)
$4,695,492

Program services were 84.9% 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.

  • 1c · Fundraising events

    $5,748,400

  • 1f · All other contributions, gifts and grants

    $220,000

  • 2a · Program service revenue: ASSESS/CERTIFICATIONS

    total $4,336,292 · related or exempt $4,336,292

  • 2b · Program service revenue: SPONSORSHIPS

    total $1,003,175 · related or exempt $1,003,175

  • 2c · Program service revenue: PUBLICATIONS

    total $650,778 · related or exempt $650,778

  • 3 · Investment income

    total $193,880 · excluded $193,880

  • 8a · Fundraising events: gross income

    $360,050

  • 8a · Fundraising events: contributions included on line 1c

    $5,748,400

  • 8b · Fundraising events: direct expenses

    $1,669,210

  • 8c · Net income from fundraising events

    total -$1,309,160 · excluded -$1,309,160

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $636,612 · program services $636,612

  • 5 · Compensation of officers, directors and key employees

    total $586,101 · program services $531,101 · management and general $55,000

  • 7 · Other salaries and wages

    total $582,525 · program services $501,225 · management and general $81,300

  • 9 · Other employee benefits

    total $352,962 · program services $301,797 · management and general $51,165

  • 10 · Payroll taxes

    total $66,126 · program services $58,414 · management and general $7,712

  • 11c · Fees: accounting

    total $3,830 · management and general $3,830

  • 11g · Fees: other

    total $1,631,061 · program services $1,626,061 · management and general $5,000

  • 12 · Advertising and promotion

    total $432,865 · program services $429,420 · management and general $3,445

  • 13 · Office expenses

    total $224,619 · program services $162,113 · management and general $62,506

  • 14 · Information technology

    total $5,002 · program services $3,500 · management and general $1,502

  • 17 · Travel

    total $46,515 · program services $31,592 · management and general $14,923

  • 19 · Conferences, conventions and meetings

    total $433,189 · program services $411,857 · management and general $21,332

  • 21 · Payments to affiliates

    total $500,000 · management and general $500,000

  • 22 · Depreciation, depletion and amortization

    total $28,341 · management and general $28,341

  • 24a · Other expenses: OTHER SERVICES

    total $3,400 · program services $1,800 · management and general $1,600

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $7,509,676 · end of year $9,846,184

  • 4 · Accounts receivable

    beginning of year $849,912 · end of year $2,123,278

  • 9 · Prepaid expenses and deferred charges

    beginning of year $333,460 · end of year $400,506

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

    $226,640

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

    $226,640

  • 10c · Land, buildings and equipment, net

    beginning of year $28,341 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $5,023,812 · end of year $5,663,670

  • 15 · Other assets

    beginning of year $0 · end of year $46,547

  • 17 · Accounts payable and accrued expenses

    beginning of year $128,999 · end of year $1,489,359

  • 19 · Deferred revenue

    beginning of year $5,613,892 · end of year $3,861,739

  • 25 · Other liabilities

    beginning of year $39,610 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $5,891,248 · end of year $10,785,768

  • 28 · Net assets with donor restrictions

    beginning of year $2,071,452 · end of year $1,943,319

Mission and programs · 2022

Mission

THE NRF FOUNDATION SHAPES RETAIL'S FUTURE BY BUILDING AWARENESS OF THE INDUSTRY THROUGH STATISTICS AND STORIES; DEVELOPING TALENT THROUGH EDUCATION, EXPERIENCES AND SCHOLARSHIPS; AND FOSTERING CAREER GROWTH AMONG PEOPLE WHO WORK IN RETAIL.

Activities or mission (Part I)

TO PURSUE THE PUBLIC EDUCATION AND RESEARCH PURPOSES OF THE NATIONAL RETAIL FEDERATION.

  • RESEARCH AND RETAIL INDUSTRY PROJECTS: IN ORDER TO ENSURE FUTURE LEADERSHIP IN THE RETAIL INDUSTRY, THE FOUNDATION ACTIVELY WORKS WITH CURRENT RETAIL LEADERS, EDUCATIONAL INSTITUTIONS AND STUDENTS INFORMING AND EDUCATING THEM ABOUT CAREER PATHS WITHIN THE RETAIL INDUSTRY. THE FOUNDATION ALSO PROVIDES PLATFORMS WHERE ALL OF THESE PARTICIPANTS CAN MEET AND ENGAGE WITH ONE ANOTHER.

    Expenses $1,667,831 · Revenue $1,530,828

  • RISE UP: TRAINING AND CREDENTIALING INITIATIVE DESIGNED BY THE RETAIL INDUSTRY TO HELP PEOPLE - REGARDLESS OF EDUCATIONAL BACKGROUND, ECONOMIC MEANS OR AGE - ACQUIRE THE SKILLS THEY NEED TO LAND JOBS IN RETAIL AND ADVANCE INTO PROMISING CAREERS.

    Expenses $998,511 · Revenue $4,459,417

  • SCHOLARSHIP PROGRAMS: IN SUPPORT OF ITS MISSION TO ADVANCE THE INTERESTS OF THE RETAIL INDUSTRY THROUGH EDUCATION, THE FOUNDATION SPONSORS SEVERAL PROGRAMS PROVIDING SCHOLARSHIPS TO INDVIDUALS ATTENDING ELIGIBLE INSTITUTIONS WHO ARE INTERESTED IN A VARIETY OF CAREERS WITHIN THE INDUSTRY. THE CRITERIA FOR AWARDING SCHOLARSHIPS ARE FURTHER DESCRIBED IN SCHEDULE I OF THIS FORM 990.

    Expenses $636,612 · Grants $636,612

  • CAREERS/STUDENT OUTREACH

    Expenses $1,392,538

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • MATTHEW R SHAY

    PRESIDENT AND CEO, NRF

    Total calculated
    $5,334,620
    From this org
    $0
    From related orgs
    $4,416,170
    Other
    $918,450
    Hours/week
    8.5 + 41.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $2,283,334 related
    Bonus
    $0 + $1,650,000 related
    Other
    $0 + $482,836 related
    Deferred
    $0 + $754,050 related
    Nontaxable benefits
    $0 + $164,400 related
    Filer's total
    $0 + $5,334,620 related

  • TONY SPRING

    CHAIR

    Total calculated
    $0
    Hours/week
    0.25 + 0.25 related

  • M R AMIRSHAHI

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • BARBRA BUKOVAC

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • ASHLEE CHICOINE START 92022

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • MICHAEL COLANERI

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • KEVIN ERTELL START 42022

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • MARK IRVIN START 42022

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • KEITH LIPERT

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • MEGAN MARR START 12023

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • DAMU MCCOY THRU 102022

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • ANN SATTIN START 42022

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • LORRAINE STOMSKI START 42022

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • KARIN NORINGTON-REAVES

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • RICHARD WIDDOWSON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • SHERRY YASKIN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • STEPHANIE MARTZ

    SECRETARY AND GENERAL COUNSEL

    Total calculated
    $921,949
    From this org
    $0
    From related orgs
    $826,949
    Other
    $95,000
    Hours/week
    8.5 + 41.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $568,750 related
    Bonus
    $0 + $210,000 related
    Other
    $0 + $48,199 related
    Deferred
    $0 + $54,050 related
    Nontaxable benefits
    $0 + $40,950 related
    Filer's total
    $0 + $921,949 related

  • ADAM LUKOSKIE

    VP

    Total calculated
    $262,825
    From this org
    $229,691
    From related orgs
    $0
    Other
    $33,134
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $229,691
    Bonus
    $0
    Other
    $0
    Deferred
    $16,334
    Nontaxable benefits
    $16,800
    Filer's total
    $262,825

  • WILLIAM THORNE

    EXEC DIR, NRFF/SVP, PR NRF

    Total calculated
    $787,577
    From this org
    $349,064
    From related orgs
    $349,063
    Other
    $89,450
    Hours/week
    25 + 25 related

    Schedule J breakdown matched by us

    Base
    $245,834 + $245,833 related
    Bonus
    $83,500 + $83,500 related
    Other
    $19,730 + $19,730 related
    Deferred
    $27,025 + $27,025 related
    Nontaxable benefits
    $17,700 + $17,700 related
    Filer's total
    $393,789 + $393,788 related

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

  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
NATIONAL RETAIL FEDERATION, A RELATED ORGANIZATION OF NRF FOUNDATION, USES THE FOLLOWING METHODS TO ESTABLISH THE COMPENSATION OF THE ORGANIZATION'S PRESIDENT AND CEO: -COMPENSATION COMMITTEE -INDEPENDENT COMPENSATION CONSULTANT -FORM 990 OF OTHER ORGANIZATIONS -WRITTEN EMPLOYMENT CONTRACT -COMPENSATION SURVEY OR STUDY -APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE NRF'S PRESIDENT AND CEO ESTABLISHES THE COMPENSATION OF THE OTHER OFFICERS OF THE ORGANIZATION. IN SETTING THE COMPENSATION, THE PRESIDENT AND CEO CONSIDERS PERFORMANCE TO GOALS AS WELL AS COMPARABILITY DATA. THESE DECISIONS ARE REVIEWED WITH THE COMPENSATION COMMITTEE ANNUALLY AND THERE IS CONTEMPORANEOUS SUBSTANTIATION OF THE COMPENSATION DECISIONS.
PART I, LINE 4B
THE PRESIDENT AND CEO PARTICIPATES IN A SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN AS DESCRIBED IN SECTION 457F OF THE IRC. PAYMENTS TO THE 457F PLAN CONSIST OF CONTRIBUTIONS BY THE PRESIDENT AND CEO'S EMPLOYER, NATIONAL RETAIL FEDERATION, A RELATED ORGANIZATION EXEMPT FROM INCOME TAX UNDER IRC SECTION 501(C)(6). THERE WAS A 457F CONTRIBUTION OF $800,000 IN THE CURRENT YEAR. PART I, LINE 7 : THE NATIONAL RETAIL FEDERATION HAS ESTABLISHED AN INCENTIVE COMPENSATION PACKAGE FOR ITS EXECUTIVE TEAM AND ALL RELATED ENTITIES. THE EXECUTIVE DIRECTOR OF THE NRF FOUNDATION PARTICIPATES IN THIS PROGRAM. AT YEAR END, UPON SUCCESSFUL COMPLETION OF PERFORMANCE GOALS, PARTICIPANTS ARE AWARDED A BONUS. THE 2/28/2023 BONUS PROGRAM WAS REVIEWED AND APPROVED BY THE COMPENSATION COMMITTEE OF THE NRF BOARD OF DIRECTORS.

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.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • NATIONAL RETAIL FEDERATION

    501(C)(6) · TRADE ASSOCIATION · NY

  • NRF POLITICAL ACTION COMMITTEE

    527 · SEPARATE SEGREGATED FUND · DC

    Directly controlled by NATIONAL RETAIL FEDERATION

Provenance

Return type
form_990
Tax year
2022
Filed
5 July 2023
IRS schema version
2022v5.0
Source object
202311869349301001

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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