National Association Of Black Accountants Inc
- Assets
- $11.8m
- Revenue
- $14.7m
- Investments
- $0.0
- Employees
- 18
- Location
- Greenbelt, MD
- Founding
- 11/1973
- Data as of
- 12/2022
- EIN
- 23-7097490
Organization Overview
National Association Of Black Accountants Inc is located in Greenbelt, MD. The organization was established in 1973. 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 Black Accountants Inc employed 18 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes. National Association Of Black Accountants Inc 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 12/2022, National Association Of Black Accountants Inc generated $14.7m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 19.1% each year . All expenses for the organization totaled $7.2m during the year ending 12/2022. While expenses have increased by 9.1% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO ENSURE UNLIMITED OPPORTUNI- TIES FOR BLACKS IN THE ACCOUNTING AND RELATED BUSINESS PROFESSIONS
Describe the Organization's Program Activity:
Part 3 - Line 4a
NATIONAL CONVENTION - PROVIDES A FORUM FOR PROGRAMMING, TRAINING, AND NETWORKING WHILE UNITING NABA MEMBERS, THE CORPORATE COMMUNITY, ACADEMICS AND OTHERS INTERESTED IN PROMOTING THE MISSION AND GOALS OF NABA. THE NATIONAL CONVENTION ENHANCES THE MANAGEMENT SKILLS AND PRODUCTIVITY OF ITS MEMBERS THROUGH FOCUSED WORKSHOPS AND TECHNICAL SESSIONS. IT PROVIDES BRANDING AND IMAGING OPPORTUNITIES AS WELL AS DIVERSITY RECRUITING AND HIRING SOLUTIONS FOR ITS CORPORATE PARTNERS. THE NATIONAL CONVENTION HOSTS A SERIES OF LEADERSHIP WORKSHOPS.
NABA'S OTHER PROGRAM CONTENT AND EVENTS CREATE VALUABLE OPPORTUNITIES TO ADDRESS THE NEEDS OF PARTNERS, PROFESSIONALS AND THE PIPELINE, FOSTERING GROWTH AND SUCCESS AT EVERY STAGE IN THE NABA LIFE CYCLE.
MEMBERSHIP - WE UNITE THROUGH MEMBERSHIP - ACCOUNTANTS, FINANCE AND BUSINESS-RELATED PROFESSIONALS AND STUDENTS WHO HAVE SIMILAR INTERESTS AND IDEALS, ARE COMMITTED TO PROFESSIONAL AND ACADEMIC EXCELLENCE, POSSESS A SENSE OF PROFESSIONAL AND CIVIC RESPONSIBILITY, AND ARE CONCERNED WITH ENHANCING OPPORTUNITIES FOR MINORITIES IN THE ACCOUNTING, FINANCE AND RELATED BUSINESS PROFESSIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Herschel Frierson Chair | OfficerTrustee | 10 | $0 |
Sherry Ann Mohan MBA CPA Vice Chair | OfficerTrustee | 10 | $0 |
Noel Bowers National Secretary | OfficerTrustee | 5 | $0 |
Jesse Rhodes Jr National Treasurer | OfficerTrustee | 5 | $0 |
Zenai Brooks Central Regional President | Trustee | 5 | $0 |
Rautz Marc Eastern Regional President | Trustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Whiteford Taylor & Preston Legal Fees | 12/30/22 | $164,242 |
Foca Consulting Consulting Services | 12/30/22 | $163,494 |
Purpose Brand Consulting Services | 12/30/22 | $145,980 |
Consciously Company Llc Consulting Services | 12/30/22 | $117,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $749,375 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $9,613,567 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,362,942 |
| Total Program Service Revenue | $4,210,699 |
| Investment income | $163,618 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$72,754 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $14,664,505 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $498,333 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $326,634 |
| Compensation of current officers, directors, key employees. | $130,654 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,478,702 |
| Pension plan accruals and contributions | $49,521 |
| Other employee benefits | $177,236 |
| Payroll taxes | $120,004 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $164,241 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $37,825 |
| Fees for services: Other | $2,195,061 |
| Advertising and promotion | $12,114 |
| Office expenses | $9,857 |
| Information technology | $206,279 |
| Royalties | $0 |
| Occupancy | $25,983 |
| Travel | $388,940 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $433,484 |
| Interest | $0 |
| Payments to affiliates | $39,110 |
| Depreciation, depletion, and amortization | $8,400 |
| Insurance | $59,504 |
| All other expenses | $133,148 |
| Total functional expenses | $7,175,682 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,802,259 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,989,698 |
| 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 | $62,782 |
| Net Land, buildings, and equipment | $174,454 |
| Investments—publicly traded securities | $7,620,817 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $143,146 |
| Total assets | $11,793,156 |
| Accounts payable and accrued expenses | $810,233 |
| Grants payable | $0 |
| Deferred revenue | $648,587 |
| 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 | $214,046 |
| Total liabilities | $1,672,866 |
| Net assets without donor restrictions | $7,818,717 |
| Net assets with donor restrictions | $2,301,573 |
| 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 | $11,793,156 |