National Association Of Surety Bond Producers Inc is located in Bethesda, MD. The organization was established in 1970. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, National Association Of Surety Bond Producers Inc employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. National Association Of Surety Bond Producers Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2022, National Association Of Surety Bond Producers Inc generated $4.0m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.0% each year. All expenses for the organization totaled $4.0m during the year ending 12/2022. While expenses have increased by 1.5% per year over the past 6 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO STRENGTHEN PROFESSIONALISM, EXPERTISE, AND INNOVATION IN SURETY AND TO ADVOCATE ITS USE WORLDWIDE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ASSOCIATION CONDUCTS MEETINGS DURING THE YEAR FOR STAFF, MEMBERS, AFFILIATES, AND ASSOCIATES FEATURING SPEAKERS ON MATTERS OF INTEREST TO THE SURETY INDUSTRY, INCLUDING THE ANNUAL CONVENTION AND FALL MEETINGS. THE ASSOCIATION HAD TWO FALL MEETINGS (EAST AND WEST) IN 2022 WITH APPROXIMATELY 500 SURETY PROFESSIONALS IN ATTENDANCE. THE ANNUAL MEETING, WHICH IS HELD IN THE SPRING OF EACH YEAR, HAD CLOSE TO 850 ATTENDEES IN 2022.
IN ADDITION, THE ASSOCIATION CONDUCTS MYRIAD OUTREACH AND ADVOCACY ACTIVITIES TO INFLUENCE DECISION-MAKERS IN INDUSTRY AND GOVERNMENT, TO INCREASE THE AWARENESS AND USE OF SURETY BONDING IN THE PUBLIC AND PRIVATE SECTOR, AND TO IMPROVE COMMUNICATIONS WITH THE MEDIA.
THE ASSOCIATION ALSO PROVIDES EDUCATIONAL PROGRAMS, INCLUDING WORKSHOPS AND SCHOOLS, WITH VARIOUS LEVELS OF CURRICULUM BASED ON THE EXPERIENCE OF THE STUDENT. SOME OF THE CURRICULUM QUALIFIES FOR CONTINUING INSURANCE EDUCATION. IN 2022, THERE WERE THREE LEVEL I SCHOOLS, THREE LEVEL II SCHOOLS, ONE LEVEL III SCHOOL AND ONE COMMERCIAL SURETY SCHOOL. MORE THAN 230 PROFESSIONALS ATTENDED THESE EDUCATIONAL PROGRAMS. THE ASSOCIATION ALSO PRESENTED 21 LIVE VIRTUAL SEMINARS WITH OVER 11,000 REGISTRANTS. THESE EVENTS, ALONG WITH CLOSE TO 300 RECORDED SESSIONS, ARE AVAILABLE ON THE ASSOCIATION'S SURETYLEARN PLATFORM. NASBP ALSO LAUNCHED AN ONLINE AND ON-DEMAND CONTRACTOR BONDING EDUCATION AND MENTORING PROGRAM TO TAKE CONTRACTORS STEP-BY-STEP THROUGH THE BONDING QUALIFICATION PROCESS. AT THE END OF 2022, 82 CONTRACTORS HAVE STARTED THE COMPREHENSIVE PROGRAM AND ALMOST 50 NASBP MEMBERS HAD VOLUNTEERED TO BE MENTORS.
IN MARCH 2020, THE ASSOCIATION LAUNCHED A PODCAST, LET'S GET SURETY - LET ME HEAR YOUR BONDING TALK FEATURING INDUSTRY LEADERS AND EXPERTS PROVIDING AN INSIDER LOOK AT THE SURETY INDUSTRY. SINCE ITS INCEPTION, THERE HAVE BEEN MORE THAN 30,000 DOWNLOADS OF THE MORE THAN 80 EPISODES. THE ASSOCIATION HOSTS A WEBSITE WHICH FEATURES A BLOG PROVIDING TIMELY INFORMATION ON ISSUES OF IMPORTANCE TO THE SURETY INDUSTRY. THE ASSOCIATION DISTRIBUTES VARIOUS COMMUNICATIONS TO ITS MEMBERS, AFFILIATES, AND ASSOCIATES. AMONG THE COMMUNICATIONS IS OUR NEWSLETTER, PIPELINE, DISTRIBUTED ELECTRONICALLY EVERY OTHER MONTH, WHICH FEATURES NEWS AND DEVELOPMENTS THAT AFFECT THE INDUSTRY. ALSO, FOCAL POINT IS AN ELECTRONIC BULLETIN THAT FOCUSES ON FEDERAL AND STATE LEGISLATIVE AND REGULATORY AFFAIRS. THIS E-BULLETIN IS PRODUCED ONCE OR TWICE A MONTH DURING THE LEGISLATIVE SEASON. NASBP SMARTBRIEF IS A WEEKLY, ELECTRONIC NEWSLETTER THAT PROVIDES A BRIEF SYNOPSIS OF NEWS SOURCES' STORIES ABOUT THE PEOPLE, MARKETS, AND POLICIES IMPACTING THE SURETY PRODUCT AND SURETY INDUSTRY. TO RECEIVE NASBP SMARTBRIEF, A RECIPIENT MUST SIGN-UP. THE NASBP SURETY BOND QUARTERLY MAGAZINE, PUBLISHED FOUR TIMES A YEAR, OFFERS INSIGHTS AND INFORMATION FOR SURETY PROFESSIONALS AS WELL AS OTHERS WHO NEED TO STAY UP TO DATE ON THE INDUSTRY'S LATEST NEWS AND DEVELOPMENTS. THE MAGAZINE IS DISTRIBUTED FOR FREE DIGITALLY AND IN PRINT TO THE NASBP MEMBERSHIP AS WELL AS PROJECT OWNERS, PUBLIC OFFICIALS, SUBCONTRACTORS, CONTRACTING OFFICERS, AND OTHERS WHO ARE AFFECTED BY DEVELOPMENTS IN THE SURETY INDUSTRY. THE HIGHLIGHTS - YEAR IN REVIEW IS AN ANNUAL PUBLICATION PRODUCED AT THE END OF THE YEAR THAT SUMMARIZES THE YEAR'S IMPORTANT ACCOMPLISHMENTS. NASBP PROVIDES THE YEAR IN REVIEW IN HARDCOPY AND ON THE WEBSITE. AN ON-LINE MEMBERSHIP DIRECTORY LISTS MEMBERS AND IS ACCESSIBLE BY THE PUBLIC AND BY THOSE SEEKING TO FORM BUSINESS RELATIONSHIPS WITH SURETY PROFESSIONALS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Nicholas Newton President | OfficerTrustee | 5 | $0 |
Patrick T Pribyl 1st Vice President | OfficerTrustee | 2 | $0 |
Zach Mendelson 2nd Vice President | OfficerTrustee | 2 | $0 |
Robert Coon 3rd Vice President | OfficerTrustee | 2 | $0 |
Tracy Tucker Immediate Past President | OfficerTrustee | 2 | $0 |
Mark Duggan Ex-Officio | Trustee | 0.5 | $0 |
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 | $0 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
Total Program Service Revenue | $3,695,725 |
Investment income | $158,700 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | -$14,662 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $4,001,560 |
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. | $900,228 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $884,170 |
Pension plan accruals and contributions | $79,070 |
Other employee benefits | $106,210 |
Payroll taxes | $99,897 |
Fees for services: Management | $0 |
Fees for services: Legal | $20,557 |
Fees for services: Accounting | $36,157 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $149,250 |
Advertising and promotion | $200 |
Office expenses | $8,402 |
Information technology | $60,828 |
Royalties | $0 |
Occupancy | $156,672 |
Travel | $88,777 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $962,306 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $25,463 |
Insurance | $48,056 |
All other expenses | $200,879 |
Total functional expenses | $4,012,316 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $428,207 |
Savings and temporary cash investments | $650,593 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $83,000 |
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 | $207,008 |
Net Land, buildings, and equipment | $121,302 |
Investments—publicly traded securities | $5,999,933 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $768,085 |
Total assets | $8,258,128 |
Accounts payable and accrued expenses | $200,555 |
Grants payable | $0 |
Deferred revenue | $1,184,629 |
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 | $872,624 |
Total liabilities | $2,257,808 |
Net assets without donor restrictions | $6,000,320 |
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 | $8,258,128 |