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Nonprofiteer
← NRF FOUNDATION

Form 990 for tax year 2023

Filed by NRF FOUNDATION.

Totals

Total revenue
$9,275,963
Total expenses
$7,431,567
Contributions and grants received
$2,884,725
Grants paid
$641,377
Program service revenue
$6,840,086
Investment income
$297,818
Other revenue
-$746,666
Total assets, end of year
$21,772,767
Total liabilities, end of year
$6,412,304
Net assets or fund balances, end of year
$15,360,463
Program services expenses (Part IX)
$5,510,747
Management and general expenses
$1,920,820
Fundraising expenses
$0
Program service expenses (Part III)
$5,510,747

Program services were 74.2% 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

    $2,859,725

  • 1f · All other contributions, gifts and grants

    $25,000

  • 2a · Program service revenue: ASSESS/CERTIFICATIONS

    total $5,260,251 · related or exempt $5,260,251

  • 2b · Program service revenue: SPONSORSHIPS

    total $946,418 · related or exempt $946,418

  • 2c · Program service revenue: PUBLICATIONS

    total $633,417 · related or exempt $633,417

  • 3 · Investment income

    total $297,818 · excluded $297,818

  • 8a · Fundraising events: gross income

    $223,300

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

    $2,859,725

  • 8b · Fundraising events: direct expenses

    $969,966

  • 8c · Net income from fundraising events

    total -$746,666 · excluded -$746,666

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $641,377 · program services $641,377

  • 5 · Compensation of officers, directors and key employees

    total $397,305 · program services $345,600 · management and general $51,705

  • 7 · Other salaries and wages

    total $733,198 · program services $695,243 · management and general $37,955

  • 9 · Other employee benefits

    total $57,238 · program services $57,238

  • 10 · Payroll taxes

    total $334,695 · program services $194,068 · management and general $140,627

  • 11b · Fees: legal

    total $1,507 · management and general $1,507

  • 11c · Fees: accounting

    total $6,377 · management and general $6,377

  • 11f · Fees: investment management

    total $18,217 · management and general $18,217

  • 11g · Fees: other

    total $2,492,706 · program services $1,942,597 · management and general $550,109

  • 12 · Advertising and promotion

    total $398,018 · program services $398,018

  • 13 · Office expenses

    total $228,977 · program services $210,002 · management and general $18,975

  • 14 · Information technology

    total $61,349 · management and general $61,349

  • 17 · Travel

    total $960,511 · program services $936,062 · management and general $24,449

  • 19 · Conferences, conventions and meetings

    total $8,450 · program services $2,457 · management and general $5,993

  • 21 · Payments to affiliates

    total $1,000,000 · management and general $1,000,000

  • 24a · Other expenses: SPONSORSHIP EXPENSE

    total $88,085 · program services $88,085

  • 24b · Other expenses: OTHER SERVICES

    total $3,557 · management and general $3,557

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $9,846,184 · end of year $8,444,623

  • 4 · Accounts receivable

    beginning of year $2,123,278 · end of year $1,032,668

  • 9 · Prepaid expenses and deferred charges

    beginning of year $400,506 · end of year $538,205

  • 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 $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $5,663,670 · end of year $11,730,250

  • 15 · Other assets

    beginning of year $46,547 · end of year $27,021

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,489,359 · end of year $1,347,751

  • 19 · Deferred revenue

    beginning of year $3,861,739 · end of year $5,064,553

  • 27 · Net assets without donor restrictions

    beginning of year $10,785,768 · end of year $13,590,529

  • 28 · Net assets with donor restrictions

    beginning of year $1,943,319 · end of year $1,769,934

Mission and programs · 2023

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 $2,884,661 · Revenue $1,520,151

  • 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 $1,137,373 · Revenue $5,319,935

  • 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 $641,377 · Grants $641,377

  • CAREERS AND STUDENT OUTREACH

    Expenses $847,336

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • TONY SPRING

    CHAIR

    Total calculated
    $0
    Hours/week
    0.25 + 0.25 related

  • M R AMIRSHAHI

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • RON BROWN

    DIRECTOR (AS OF 06/23)

    Total calculated
    $0
    Hours/week
    0.5

  • BARBRA BUKOVAC

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • ASHLEE CHICOINE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • MICHAEL COLANERI

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • MONICA DAVILA

    DIRECTOR (AS OF 01/24)

    Total calculated
    $0
    Hours/week
    0.5

  • KEVIN ERTELL

    DIRECTOR (THRU 10/23)

    Total calculated
    $0
    Hours/week
    0.5

  • TONYA HALLETT

    DIRECTOR (AS OF 06/23)

    Total calculated
    $0
    Hours/week
    0.5

  • MARK IRVIN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • MICHAEL KEINATH

    DIRECTOR (AS OF 01/24)

    Total calculated
    $0
    Hours/week
    0.5

  • KEITH LIPERT

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • MEGAN MARR

    DIRECTOR (THRU 01/24)

    Total calculated
    $0
    Hours/week
    0.5

  • ANN SATTIN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • MARTIN SCAGLIONE

    DIRECTOR (AS OF 01/24)

    Total calculated
    $0
    Hours/week
    0.5

  • JUSTIN SMITH

    DIRECTOR (AS OF 01/24)

    Total calculated
    $0
    Hours/week
    0.5

  • LORRAINE STOMSKI

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • KARIN NORINGTON-REAVES

    DIRECTOR (THRU 06/23)

    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

  • MATTHEW SHAY

    PRESIDENT AND CEO, NRF

    Total calculated
    $5,618,632
    From this org
    $0
    From related orgs
    $4,595,749
    Other
    $1,022,883
    Hours/week
    8.5 + 41.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $2,383,333 related
    Bonus
    $0 + $1,725,000 related
    Other
    $0 + $487,416 related
    Deferred
    $0 + $856,050 related
    Nontaxable benefits
    $0 + $166,833 related
    Filer's total
    $0 + $5,618,632 related

  • STEPHANIE MARTZ

    SECRETARY AND GENERAL COUNSEL

    Total calculated
    $985,223
    From this org
    $0
    From related orgs
    $886,910
    Other
    $98,313
    Hours/week
    8.5 + 41.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $603,750 related
    Bonus
    $0 + $231,000 related
    Other
    $0 + $52,160 related
    Deferred
    $0 + $56,050 related
    Nontaxable benefits
    $0 + $42,263 related
    Filer's total
    $0 + $985,223 related

  • ADAM LUKOSKIE

    EXECUTIVE DIRECTOR

    Total calculated
    $308,137
    From this org
    $229,276
    From related orgs
    $40,460
    Other
    $38,401
    Hours/week
    34 + 6 related

    Schedule J breakdown matched by us

    Base
    $229,276 + $40,460 related
    Bonus
    $0
    Other
    $0
    Deferred
    $16,321 + $2,880 related
    Nontaxable benefits
    $16,320 + $2,880 related
    Filer's total
    $261,917 + $46,220 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 2/29/2024 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
2023
Filed
24 June 2024
IRS schema version
2023v5.1
Source object
202411779349301621

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