Nfc Forum Inc

Organization Overview

Nfc Forum Inc is located in Wakefield, MA. The organization was established in 2006. According to its NTEE Classification (S40) the organization is classified as: Business & Industry, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Nfc Forum 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 10/2020, Nfc Forum Inc generated $1.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (3.2%) each year. All expenses for the organization totaled $1.6m during the year ending 10/2020. As we would expect to see with falling revenues, expenses have declined by (5.3%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2020

Describe the Organization's Mission:

Part 3 - Line 1

THE NEAR FIELD COMMUNICATION FORUM WAS FORMED TO ADVANCE THE USE OF NEAR FIELD COMMUNICATION TECHNOLOGY BY DEVELOPING SPECIFICATIONS, ENSURING INTEROPERABILITY AMONG DEVICES AND SERVICES, AND EDUCATING THE MARKET ABOUT NFC TECHNOLOGY.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE ORGANIZATION PROMOTES THE DEVELOPMENT AND ADOPTION OF OPEN, ACCESSIBLE STANDARDS AND RESPECTIVE SPECIFICATIONS TO ADVANCE THE USE OF NFC SHORT-RANGE WIRELESS INTERACTION IN CONSUMER ELECTRONICS, MOBILE DEVICES AND PCS.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Virtual Inc
Management Fees
$877,393
Wendel Sten
Consulting
$130,875
View All Vendors

Financial Statements

Statement of Revenue
Total Revenue from Contributions, Gifts, Grants & Similar$0
Investment income $1,314
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 $1,800,460

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