National Equipment Finance Association Inc
- Assets
- $2.1m
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 6
- Location
- Northbrook, IL
- Founding
- 06/2010
- Data as of
- 12/2022
- EIN
- 26-3741546
Organization Overview
National Equipment Finance Association Inc is located in Northbrook, IL. The organization was established in 2010. According to its NTEE Classification (Y03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Mutual & Membership Benefit and related organizations. As of 12/2022, National Equipment Finance Association Inc employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. National Equipment Finance Association 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 Equipment Finance Association Inc generated $1.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.5% each year. All expenses for the organization totaled $1.3m during the year ending 12/2022. While expenses have increased by 16.8% per year over the past 7 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 PROVIDE A FORUM FOR MEMBERS TO PURSUE PERSONAL AND PROFESSIONAL GROWTH, ETHICS, ADVOCACY, NETWORKING, EDUCATION AND INVOLVEMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
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.
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.
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.
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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chad Sluss CEO | Officer | 40 | $160,000 |
Adam Peterson President | OfficerTrustee | 2 | $0 |
Robert Hornby Vice Preside | OfficerTrustee | 2 | $0 |
Jacklynn Manning Treasurer | OfficerTrustee | 2 | $0 |
Paul Fogle Secretary | OfficerTrustee | 2 | $0 |
Jim Jackson Past Preside | OfficerTrustee | 2 | $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 | $24,025 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $24,025 |
| Total Program Service Revenue | $1,274,365 |
| Investment income | $9,610 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $4,500 |
| 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 | $1,345,862 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $33,500 |
| Grants and other assistance to domestic individuals. | $5,965 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $161,600 |
| Compensation of current officers, directors, key employees. | $48,480 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $158,027 |
| Pension plan accruals and contributions | $1,195 |
| Other employee benefits | $0 |
| Payroll taxes | $25,230 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,400 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $67,395 |
| Advertising and promotion | $11,401 |
| Office expenses | $43,205 |
| Information technology | $14,153 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $49,120 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $624,392 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,058 |
| Insurance | $13,276 |
| All other expenses | $1,089 |
| Total functional expenses | $1,348,524 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $734,230 |
| Savings and temporary cash investments | $1,200,879 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $93,108 |
| 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 | $92,866 |
| Net Land, buildings, and equipment | $20,983 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,142,066 |
| Accounts payable and accrued expenses | $3,627 |
| Grants payable | $0 |
| Deferred revenue | $355,989 |
| 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 | $359,616 |
| Net assets without donor restrictions | $1,689,652 |
| Net assets with donor restrictions | $92,798 |
| 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 | $2,142,066 |
Grants Awarded
Over the last fiscal year, National Equipment Finance Association Inc has awarded $26,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
NEFA PURPOSE: SUPPORT | $6,000 |
SAFE HAVEN FAMILY SHELTER PURPOSE: SUPPORT | $20,000 |