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← MDRT ACADEMY

Form 990 for tax year 2022

Filed by MDRT ACADEMY.

What the amendment changed

Compared with the return it replaced , filed 13 November 2023. matched by us Only the Part I totals and the names listed in Part VII are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.

Total expenses
$2,784,541 changed to $3,084,417
Total assets, end of year
$1,007,161 changed to $1,001,138
Total liabilities, end of year
$5,552,668 changed to $5,846,520
Net assets or fund balances, end of year
-$4,545,507 changed to -$4,845,382

Totals

Total revenue
$263,725
Total expenses
$3,084,417
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$263,725
Investment income
$0
Other revenue
$0
Total assets, end of year
$1,001,138
Total liabilities, end of year
$5,846,520
Net assets or fund balances, end of year
-$4,845,382
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 $263,725 · related or exempt $263,725

Functional expenses

Part IX, the statement of functional expenses.

  • 11b · Fees: legal

    total $18,107

  • 11g · Fees: other

    total $1,092,707

  • 12 · Advertising and promotion

    total $306,117

  • 13 · Office expenses

    total $35

  • 14 · Information technology

    total $1,537,408

  • 17 · Travel

    total $2,440

  • 19 · Conferences, conventions and meetings

    total $18,942

  • 24a · Other expenses: CONTENT DEVELOPMENT

    total $93,108

  • 24b · Other expenses: MISCELLANEOUS EXPENSE

    total $15,553

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $619,815 · end of year $652,070

  • 4 · Accounts receivable

    beginning of year $528 · end of year $349,068

  • 17 · Accounts payable and accrued expenses

    beginning of year $478,494 · end of year $274,548

  • 19 · Deferred revenue

    beginning of year $2,475 · end of year $135,300

  • 25 · Other liabilities

    beginning of year $2,164,065 · end of year $5,436,672

  • 27 · Net assets without donor restrictions

    beginning of year -$2,024,691 · end of year -$4,845,382

Mission and programs · 2022

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 2022 return.

Listed in Part VII

  • Ian Green

    PAST PRESIDENT

    Total calculated
    $29,720
    From this org
    $0
    From related orgs
    $29,720
    Other
    $0
    Hours/week
    1 + 5 related
  • Randy Scritchfield

    PAST PRESIDENT

    Total calculated
    $49,980
    From this org
    $0
    From related orgs
    $49,980
    Other
    $0
    Hours/week
    1 + 10 related
  • Peggy Tsai

    PRESIDENT

    Total calculated
    $52,680
    From this org
    $0
    From related orgs
    $52,680
    Other
    $0
    Hours/week
    1 + 5 related
  • Greg Gagne

    1ST VICE PRESIDENT

    Total calculated
    $47,280
    From this org
    $0
    From related orgs
    $47,280
    Other
    $0
    Hours/week
    1 + 5 related
  • Carol Kheng

    2ND VICE PRESIDENT

    Total calculated
    $44,580
    From this org
    $0
    From related orgs
    $44,580
    Other
    $0
    Hours/week
    1 + 5 related
  • John Nichols

    SECRETARY

    Total calculated
    $14,860
    From this org
    $0
    From related orgs
    $14,860
    Other
    $0
    Hours/week
    1 + 5 related
  • Stephen Stahr

    CEO

    Total calculated
    $1,085,717
    From this org
    $0
    From related orgs
    $921,768
    Other
    $163,949
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $753,375 related
    Bonus
    $0 + $162,003 related
    Other
    $0 + $6,390 related
    Deferred
    $0 + $137,632 related
    Nontaxable benefits
    $0 + $26,317 related
    Filer's total
    $0 + $1,085,717 related
  • Mark Leon

    SENIOR DIRECTOR, FINANCE

    Total calculated
    $264,791
    From this org
    $0
    From related orgs
    $263,030
    Other
    $1,761
    Hours/week
    10 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $258,300 related
    Bonus
    $0 + $3,435 related
    Other
    $0 + $1,295 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $1,761 related
    Filer's total
    $0 + $264,791 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

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

PART I, LINES 4A-B
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 $124,367 IN FY2022 (DOES NOT VEST UNTIL RETIREMENT DATE IS REACHED). THE FOLLOWING PERSON RECEIVED A SEVERANCE PAYMENT IN 2022: MARK LEON - $67,234

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

  • MDRT GLOBAL SERVICES

    C · AN ASSOCIATION DESIGNED FOR INFLUENCERS IN THE INDUSTRY TO ENGAGE WITH MDRT. · IL · 100% owned · controlled entity

    Directly controlled by MILLION DOLLAR ROUND TABLE

Provenance

Return type
form_990
Tax year
2022
Filed
20 November 2024
IRS schema version
2022v5.0
Source object
202403399349300900

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