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Nonprofiteer
← NATIONAL EQUIPMENT FINANCE ASSOCIATION INC

Form 990 for tax year 2022

Filed by NATIONAL EQUIPMENT FINANCE ASSOCIATION INC.

Totals

Total revenue
$1,345,862
Total expenses
$1,348,524
Contributions and grants received
$24,025
Grants paid
$39,465
Program service revenue
$1,274,365
Investment income
$9,610
Other revenue
$37,862
Total assets, end of year
$2,142,066
Total liabilities, end of year
$359,616
Net assets or fund balances, end of year
$1,782,450
Program services expenses (Part IX)
$1,273,621
Management and general expenses
$74,903
Fundraising expenses
$0
Program service expenses (Part III)
$1,273,621

Program services were 94.4% 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.

  • 1f · All other contributions, gifts and grants

    $24,025

  • 2a · Program service revenue: CONFERENCE REVENUE

    total $844,279 · related or exempt $844,279

  • 2b · Program service revenue: MEMBERSHIP DUES & ASSESSMENTS

    total $364,422 · related or exempt $364,422

  • 2c · Program service revenue: REGIONAL EVENT

    total $65,664 · related or exempt $65,664

  • 3 · Investment income

    total $9,610 · excluded $9,610

  • 5 · Royalties

    total $4,500 · excluded $4,500

  • 11a · Other revenue: ADVERTISING INCOME

    total $30,362 · related or exempt $30,362

  • 11b · Other revenue: OTHER INCOME

    total $3,000 · related or exempt $3,000

  • 11e · Other revenue, total

    $33,362

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $33,500 · program services $33,500

  • 2 · Grants to domestic individuals

    total $5,965 · program services $5,965

  • 5 · Compensation of officers, directors and key employees

    total $161,600 · program services $113,120 · management and general $48,480

  • 7 · Other salaries and wages

    total $158,027 · program services $138,036 · management and general $19,991

  • 8 · Pension plan contributions

    total $1,195 · program services $918 · management and general $277

  • 10 · Payroll taxes

    total $25,230 · program services $20,018 · management and general $5,212

  • 11c · Fees: accounting

    total $7,400 · program services $7,400

  • 11g · Fees: other

    total $67,395 · program services $67,395

  • 12 · Advertising and promotion

    total $11,401 · program services $11,401

  • 13 · Office expenses

    total $43,205 · program services $43,205

  • 14 · Information technology

    total $14,153 · program services $14,153

  • 17 · Travel

    total $49,120 · program services $49,120

  • 19 · Conferences, conventions and meetings

    total $624,392 · program services $624,392

  • 22 · Depreciation, depletion and amortization

    total $9,058 · program services $9,058

  • 23 · Insurance

    total $13,276 · program services $13,276

  • 24a · Other expenses: SUBSCRIPTION/DUES EXPENSE

    total $75,461 · program services $75,461

  • 24b · Other expenses: BANK FEES: MERCHANT SERVI

    total $26,293 · program services $26,293

  • 24c · Other expenses: BANK FEES:MERCHANT SERVIC

    total $15,906 · program services $14,963 · management and general $943

  • 24d · Other expenses: TELECOMMUNICATIONS:PHONE

    total $4,858 · program services $4,858

  • 24e · All other expenses

    total $1,089 · program services $1,089

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,304,896 · end of year $734,230

  • 2 · Savings and temporary cash investments

    beginning of year $500,005 · end of year $1,200,879

  • 4 · Accounts receivable

    beginning of year $88,001 · end of year $93,108

  • 9 · Prepaid expenses and deferred charges

    beginning of year $72,992 · end of year $92,866

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

    $34,887

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

    $13,904

  • 10c · Land, buildings and equipment, net

    beginning of year $27,792 · end of year $20,983

  • 17 · Accounts payable and accrued expenses

    beginning of year $26,533 · end of year $3,627

  • 19 · Deferred revenue

    beginning of year $182,041 · end of year $355,989

  • 27 · Net assets without donor restrictions

    beginning of year $1,696,874 · end of year $1,689,652

  • 28 · Net assets with donor restrictions

    beginning of year $88,238 · end of year $92,798

Mission and programs · 2022

Mission

TO PROVIDE A FORUM FOR MEMBERS TO PURSUE PERSONAL AND PROFESSIONAL GROWTH, ETHICS, ADVOCACY, NETWORKING, EDUCATION AND INVOLVEMENT.

  • THE FALL FUNDING SYMPOSIUM WAS HELD IN NASHVILLE, TENNESSEE IN NOVEMBER 2022. THE EVENT HOSTED APPROXIMATELY 409 LEASING INDUSTRY PROFESSIONALS. ATTENDEES HAD THE OPPORTUNITY TO NETWORK AND TO LEARN HOW TO OPERATE MORE EFFECTIVELY IN TODAY'S CHALLENGING BUSINESS ENVIRONMENT.

    Expenses $418,653 · Revenue $468,730

  • SPRING CONFERENCE - THE NEFA SUMMIT WAS HELD IN HUNTINGTON BEACH, CALIFORNIA IN MARCH 2022. THE EVENT ATTENDANCE WAS 376 LEASING INDUSTRY PROFESSIONALS THAT GATHERED TO NETWORK AND LEARN ABOUT MARKET CONDITIONS AND NEW FINANCING STRATEGIES.

    Expenses $361,553 · Revenue $375,549

  • MINI REGIONAL EVENTS - NEFA HELD 14 MINI REGIONAL EVENTS IN 2022. THESE SMALL SCALE EVENTS WERE HELD IN VARIOUS LOCATIONS THROUGHOUT THE UNITED STATES AND WERE FORUMS FOR REGIONAL NETWORKING AND EDUCATION ON A LOCAL LEVEL.

    Expenses $100,016 · Revenue $65,664

  • MEMBERSHIP-MEMBERSHIP IN NEFA IS OPEN TO FIRMS ENGAGED IN FINANCING, LEASING OR COMMERCIAL FINANCE, OR FIRMS THAT HAVE AN ACTIVE INTEREST IN THE EQUIPMENT FINANCING AND LEASING FIELD AND WHO SUBSCRIBE TO THE PURPOSES OF THE ASSOCIATION. NEFA EMPOWERS ITS MEMBERS WITH DEVELOPMENTAL PROGRAMS, NETWORKING OPPORTUNITIES, AND LARGE AND SMALL GATHERINGS OF ASSOCIATION PROFESSIONALS AND INDUSTRY LEADERS FROM THROUGHOUT THE COUNTRY. NEFA ENHANCES THE MANY BENEFITS OF MEMBERSHIP THROUGH PUBLICATIONS, PROFESSIONAL COMMUNITIES AND LEADERSHIP OPPORTUNITIES. NEWSLINE - THE NEFA PUBLICATION IS DISTRIBUTED BI-MONTHLY AND FOCUSES ON INDUSTRY RELATED NEWS AND EDUCATION.

    Expenses $393,399 · Grants $39,465 · Revenue $364,422

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

Listed in Part VII

  • CHAD SLUSS

    CEO

    Total calculated
    $161,600
    From this org
    $160,000
    From related orgs
    $0
    Other
    $1,600
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $160,000
    Bonus
    not reported
    Other
    not reported
    Deferred
    $1,600
    Nontaxable benefits
    not reported
    Filer's total
    $161,600

  • ADAM PETERSON

    PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • ROBERT HORNBY

    VICE PRESIDE

    Total calculated
    $0
    Hours/week
    2

  • JACKLYNN MANNING

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • PAUL FOGLE

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • JIM JACKSON

    PAST PRESIDE

    Total calculated
    $0
    Hours/week
    2

  • SHAWN SMITH

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • DON COSENZA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • KIM KING

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • SHERVIN RASHTI

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • ROBERT RINALDI

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • KAYLA PERLINGER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • RON ELWOOD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • SCOTT FORREST

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

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

  • 3 · Written employment contract
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

SCHEDULE J, PART III
EACH YEAR A BOARD COMMITTEE REVIEWS PERFORMANCE AND COMPENSATION OF THE EXECUTIVE DIRECTOR. ANY CHANGE IN COMPENSATION IS REVIEWED AT THIS TIME.

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

Provenance

Return type
form_990
Tax year
2022
Filed
26 June 2023
IRS schema version
2022v5.0
Source object
202322069349300017

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