National Cannabis Industry Association
- Assets
- $271.8k
- Revenue
- $2.1m
- Investments
- $0.0
- Employees
- 11
- Location
- Denver, CO
- Founding
- 12/2010
- Data as of
- 12/2022
- EIN
- 27-3484449
Organization Overview
National Cannabis Industry Association is located in Denver, CO. The organization was established in 2010. 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. As of 12/2022, National Cannabis Industry Association employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. National Cannabis Industry Association 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 Cannabis Industry Association generated $2.1m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.7% each year. All expenses for the organization totaled $1.9m during the year ending 12/2022. While expenses have increased by 2.7% 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
REPRESENT THE INTERESTS OF ALL LEGALLY RECOGNIZED CANNABIS INDUSTRY BUSINESSES WITH RESPECT TO FEDERAL LEGISLATION AND REGULATION MATTERS, AND PROMOTE INDUSTRY BEST PRACTICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FEDERAL LOBBYING: NCIA ENGAGES IN DIRECT GOVERNMENT RELATIONS WORK TO RAISE AWARENESS OF THE CANNABIS INDUSTRY S ISSUES AND BUILD SUPPORT IN CONGRESS FOR MARIJUANA POLICY REFORMS THAT BENEFIT THE ADVANCEMENT OF A RESPONSIBLE, REGULATED, AND LEGAL CANNABIS INDUSTRY.
PUBLIC RELATIONS: NCIA WORKS TO EDUCATE THE PUBLIC ON THE POTENTIAL ECONOMIC AND SOCIAL BENEFITS OF LEGALIZING AND REGULATING CANNABIS SALES THROUGHOUT THE US. THIS IS ACCOMPLISHED PRIMARILY THROUGH TARGETED MEDIA OUTREACH AND COORDINATED AND TIMELY RESPONSE TO NEWSWORTHY TOPICS.
CONFERENCES: HAVING HOSTED APPROXIMATELY 50 EDUCATIONAL AND NETWORKING EVENTS FOR MEMBERS THROUGHOUT THE US, NCIA FOSTERS INDUSTRY BEST PRACTICES AND WORKS TO BUILD COMMUNITY WITHIN THE INDUSTRY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Frederick Smith Chief Executive Officer | OfficerTrustee | 40 | $156,493 |
Khurshid Khoja Executive Officer At Large | OfficerTrustee | 1 | $0 |
Kristopher Krane Chair | OfficerTrustee | 1 | $0 |
Cody Bass Director | Trustee | 1 | $0 |
Taylor West Director | Trustee | 1 | $0 |
Omar Figueroa Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Fusion Span Software Support And Consulting | 12/30/19 | $254,708 |
Federal Advocates Inc Government Relations | 12/30/19 | $255,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,089,187 |
| Fundraising events | $82,443 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $11,841 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,183,471 |
| Total Program Service Revenue | $7,600 |
| Investment income | $25 |
| 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 | $2,072,501 |
| 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 | $57,680 |
| Compensation of current officers, directors, key employees. | $455,556 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $573,791 |
| Pension plan accruals and contributions | $37,920 |
| Other employee benefits | $1,685 |
| Payroll taxes | $83,063 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $20,200 |
| Fees for services: Accounting | $94,364 |
| Fees for services: Lobbying | $5,918 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $123,789 |
| Advertising and promotion | $18,334 |
| Office expenses | $51,439 |
| Information technology | $59,194 |
| Royalties | $0 |
| Occupancy | $160,248 |
| Travel | $23,557 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $18,353 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,703 |
| Insurance | $19,977 |
| All other expenses | $1,316 |
| Total functional expenses | $1,901,782 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $187,180 |
| Savings and temporary cash investments | $12,605 |
| 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 | $37,347 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $34,680 |
| Total assets | $271,812 |
| Accounts payable and accrued expenses | $5,029 |
| 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 | $5,029 |
| Net assets without donor restrictions | $0 |
| 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 | $266,783 |
| Total liabilities and net assets/fund balances | $271,812 |