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← MDRT ACADEMY

Form 990 for tax year 2023

Filed by MDRT ACADEMY.

Totals

Total revenue
$184,628
Total expenses
$2,805,242
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$184,600
Investment income
$28
Other revenue
$0
Total assets, end of year
$468,339
Total liabilities, end of year
$7,934,327
Net assets or fund balances, end of year
-$7,465,988
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

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.

  • 2a · Program service revenue: MEMBERSHIP INCOME

    total $184,600 · related or exempt $184,600

  • 7a · Gross sales of assets other than inventory

    securities $74

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

    securities $46

  • 7c · Gain or loss

    securities $28

  • 7d · Net gain or loss

    total $28 · excluded $28

Functional expenses

Part IX, the statement of functional expenses.

  • 11c · Fees: accounting

    total $3,300

  • 11g · Fees: other

    total $915,981

  • 12 · Advertising and promotion

    total $354,107

  • 13 · Office expenses

    total $1,043

  • 14 · Information technology

    total $1,400,000

  • 17 · Travel

    total $4,430

  • 19 · Conferences, conventions and meetings

    total $19,784

  • 24a · Other expenses: CONTENT DEVELOPMENT

    total $106,375

  • 24b · Other expenses: MISCELLANEOUS EXPENSE

    total $222

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $652,070 · end of year $220,336

  • 4 · Accounts receivable

    beginning of year $349,068 · end of year $247,753

  • 9 · Prepaid expenses and deferred charges

    end of year $250

  • 17 · Accounts payable and accrued expenses

    beginning of year $274,548 · end of year $236,992

  • 19 · Deferred revenue

    beginning of year $135,300 · end of year $3,025

  • 25 · Other liabilities

    beginning of year $5,436,672 · end of year $7,694,310

  • 27 · Net assets without donor restrictions

    beginning of year -$4,845,382 · end of year -$7,465,988

Mission and programs · 2023

Mission

A PROFESSIONAL ASSOCIATION AND COMMUNITY FOR ADVISORS STRIVING TO ACHIEVE MDRT-LEVEL PRODUCTION THAT'S AVAILABLE IN AN ENTIRELY MOBILE WORLD.

  • BACKED BY MDRT'S CULTURE OF SHARING, WHICH IS PROVEN TO EMPOWER GROWTH, THE MDRT ACADEMY'S TECHNOLOGY-ENABLED SYSTEM DELIVERS INNOVATIVE IDEAS FROM MDRT EXPERTS AND PREMIER COACHES. MDRT ACADEMY MEMBERS CAN ALSO GET REAL-TIME, REAL-LIFE ANSWERS TO REAL-WORLD CHALLENGES FROM THE MDRT ACADEMY MOBILE COMMUNITY.

As filed on the 2023 return.

Listed in Part VII

  • Peggy Tsai

    PAST PRESIDENT

    Total calculated
    $90,753
    From this org
    $0
    From related orgs
    $90,753
    Other
    $0
    Hours/week
    1 + 10 related

  • Randy Scritchfield

    FORMER PAST PRESIDENT

    Total calculated
    $50,368
    From this org
    $0
    From related orgs
    $50,368
    Other
    $0
    Hours/week
    1 + 5 related

  • Greg Gagne

    PRESIDENT

    Total calculated
    $83,255
    From this org
    $0
    From related orgs
    $83,255
    Other
    $0
    Hours/week
    1 + 5 related

  • Carol Kheng

    1ST VICE PRESIDENT

    Total calculated
    $62,638
    From this org
    $0
    From related orgs
    $62,638
    Other
    $0
    Hours/week
    1 + 5 related

  • John Nichols

    2ND VICE PRESIDENT

    Total calculated
    $44,952
    From this org
    $0
    From related orgs
    $44,952
    Other
    $0
    Hours/week
    1 + 5 related

  • Clay Gillespie

    SECRETARY

    Total calculated
    $21,732
    From this org
    $0
    From related orgs
    $21,732
    Other
    $0
    Hours/week
    1 + 5 related

  • Stephen Stahr

    CEO

    Total calculated
    $1,230,058
    From this org
    $0
    From related orgs
    $925,803
    Other
    $304,255
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $923,304 related
    Bonus
    $0
    Other
    $0 + $2,499 related
    Deferred
    $0 + $124,034 related
    Nontaxable benefits
    $0 + $180,221 related
    Filer's total
    $0 + $1,230,058 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

The filer's explanations (Part III)

PART I, LINE 4B
THE FOLLOWING PERSON RECEIVED BENEFITS FROM OR OTHERWISE PARTICIPATED IN A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN (RELATED PARTY FUNDING BETWEEN MDRT AND ACADEMY): STEPHEN STAHR - ACCRUED AN ADDITIONAL $106,544 IN FY2023 (DOES NOT VEST UNTIL RETIREMENT DATE IS REACHED)

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.

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 corporations and trusts

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

  • MDRT BUSINESS SERVICES INC

    C · CREATE AND SELL PRODUCTS AND SERVICES · IL · 100% owned · controlled entity

    Directly controlled by MILLION DOLLAR ROUND TABLE

Provenance

Return type
form_990
Tax year
2023
Filed
12 November 2024
IRS schema version
2023v5.1
Source object
202403179349303695

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