National Association Of Corporate Directors
- Assets
- $191.2k
- Revenue
- $342.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Minneapolis, MN
- Founding
- 11/2003
- Data as of
- 12/2023
- EIN
- 04-3741178
Organization Overview
National Association Of Corporate Directors, operating under the name Nacd-Mn Nacd Mn, is located in Minneapolis, MN. The organization was established in 2003. According to its NTEE Classification (B03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Education and related organizations. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Nacd-Mn Nacd MN is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Nacd-Mn Nacd MN generated $342.9k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 18.4% each year . All expenses for the organization totaled $180.1k during the year ending 12/2023. While expenses have increased by 13.6% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
NACD INSPIRES TO A WORLD WHERE BUSINESSES ARE SUSTAINABLE, PROFITABLE AND TRUSTED. IT PROVIDES TOOLS, RESOURCES AND VOICE TO ADVANCE THIS VISION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE NACD MINNESOTA CHAPTER FOLLOWS THE MISSION OF NACD IN ADVANCING EXEMPLARY BOARD LEADERSHIP. IT IS A REQUIREMENT FOR EACH PROGRAM THAT THE TOPIC RELATE TO "GOVERNANCE AND WE REQUIRE A MINIMUM OF ONE DIRECTOR, PREFERABLY AN NACD MEMBER, AS A SPEAKER OR PRESENTER ON A PANEL. IN THIS WAY, WE OFFER THE LOCAL DIRECTOR COMMUNITY OPPORTUNITIES TO BECOME INFORMED AND EDUCATED, AS WELL AS PROVIDING A FORUM FOR DISCUSSION OF TOPICS RELATING TO THE BOARDROOM AND DIRECTOR PERFORMANCE.(CONTINUED IN SCHEDULE O)IN 2023, NACD-MN OFFERED 8 PROGRAMS - ONE VIRTUAL AND THE REST IN PERSON - WITH NEARLY 400 ATTENDEES. VIRTUAL PRICING WAS COMPLEMENTARY FOR MEMBERS AND $25 FOR NONMEMBERS. IN-PERSON PRICING WAS $50 FOR MEMBERS AND $65 FOR NONMEMBERS. NACD-MN PROGRAMMING FOCUSED ON THOSE WHO SERVE ON PUBLIC, PRIVATE AND NONPROFIT ORGANIZATION BOARDS, WITH AN EMPHASIS ON REPRESENTATION OF PEOPLE OF COLOR AND WOMEN PARTICIPANTS. CONTENT WAS DESIGNED TO STRENGTHEN BOARD GOVERNANCE AND EQUIP DIRECTORS TO BE READY TO NAVIGATE THE REALITIES OF BUSINESS TODAY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Channon Lemon Executive Director | Officer | 10 | $55,000 |
Miron Marcotte Chair | OfficerTrustee | 1 | $0 |
Melodie Rose Vice Chair & Program Chair | OfficerTrustee | 1 | $0 |
James Powell Treasurer | OfficerTrustee | 1 | $0 |
Sarah Lynn Oquist Secretary | OfficerTrustee | 1 | $0 |
Barbara Butts Williams Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $329,150 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $329,150 |
| Total Program Service Revenue | $13,675 |
| Investment income | $86 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $342,911 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $55,000 |
| Compensation of current officers, directors, key employees. | $27,500 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $71,699 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $1,863 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $3,780 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $45,975 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $615 |
| All other expenses | $1,163 |
| Total functional expenses | $180,095 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $91,246 |
| Savings and temporary cash investments | $100,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $191,246 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $191,246 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $191,246 |