The Managing Directors Association Of The Northwestern Mutual Life
- Assets
- $837.6k
- Revenue
- $551.1k
- Investments
- $0.0
- Employees
- 1
- Location
- Racine, WI
- Founding
- 05/2004
- Data as of
- 06/2022
- EIN
- 39-1262602
Organization Overview
The Managing Directors Association Of The Northwestern Mutual Life is located in Racine, WI. The organization was established in 2004. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Managing Directors Association Of The Northwestern Mutual Life 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 06/2022, Managing Directors Association Of The Northwestern Mutual Life generated $551.1k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.8% each year . All expenses for the organization totaled $663.3k during the year ending 06/2022. While expenses have increased by 13.9% 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
THE MANAGING DIRECTORS ASSOCIATION OF THE NORTHWESTERN MUTUAL LIFE INSURANCE COMPANY, INC ORGANIZES EDUCATIONAL CONFERENCES FOR AND PROVIDES EDUCATIONAL INFORMATION TO ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MANAGING DIRECTORS ASSOCIATION OF THE NORTHWESTERN MUTUAL LIFE INSURANCE COMPANY, INC HAS APPROXIMATELY 293 MEMBERS. EACH YEAR THE MEMBERS MEET FOR THE PURPOSES OF SHARING INFORMATION RELATED TO THEIR BUSINESS PRACTICES. IN ADDITION, SPEAKERS MOTIVATE AND TRAIN MEMBERS ON TOPICS RELATED TO THE GROWTH AND DEVELOPMENT OF THEIR DISTRICT NETWORK OFFICES. TOPICS DISCUSSED RELATE TO RECRUITING AND TRAINING OF LICENSED FINANCIAL REPRESENTATIVES IN LIFE INSURANCE, DISABILITY INSURANCE, AND LONG-TERM CARE INSURANCE IN ADDTION TO INVESTMENT RELATED PRODUCTS FOR THE NORTHWESTERN MUTUAL FINACIAL NETWORK. OTHER AREAS INCLUDE OFFICE ORGANIZATION, STAFF MANAGEMENT, LEADERSHIP DEVELOPMENT, MARKETING, AND SALES TECHNIQUES. EDUCATIONAL CONFERENCES ARE HELD IN EACH REGION IN ADDITION TO AN SPRING ANNUAL CONFERENCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sherry Hubbard Executive Director | Trustee | 36 | $82,000 |
Shawn Mackey CLU CHFC Past President | OfficerTrustee | 5 | $2,000 |
Ryan Yoder CLU CHFC Cltc President | OfficerTrustee | 5 | $0 |
Thomas Canale CFP CLU Chsnc CHFC President-Elect | OfficerTrustee | 5 | $0 |
Fernando Suarez CFP CLU CHFC 1st Vice-President | OfficerTrustee | 5 | $0 |
Eric Mcgough CLU CHFC Ricp 2nd Vice President | OfficerTrustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $520,778 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $30,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $550,778 |
| Total Program Service Revenue | $0 |
| Investment income | $295 |
| 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 | $551,073 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $37,000 |
| 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. | $108,807 |
| Compensation of current officers, directors, key employees. | $108,807 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $7,383 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,140 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $300,890 |
| Advertising and promotion | $0 |
| Office expenses | $4,707 |
| Information technology | $6,527 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $17,595 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $158,590 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,370 |
| All other expenses | $18,281 |
| Total functional expenses | $663,290 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $272,829 |
| Savings and temporary cash investments | $559,610 |
| 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 | $5,204 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $837,643 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $837,643 |
| 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 | $837,643 |
Grants Awarded
Over the last fiscal year, The Managing Directors Association Of The Northwestern Mutual Life has awarded $40,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Laguna Niguel, CA PURPOSE: 2020 PLEDGED CONTRIBUTION | $35,000 |
Denver, CO PURPOSE: CHRIS DEZEEUW MEMORIAL | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Statewide Energy Efficiency Andrenewables Administration Inc Madison, WI | $63,794,129 | $99,926,553 |
Information Systems Audit And Control Association Inc Schaumburg, IL | $168,414,298 | $101,751,321 |
International Code Council Inc Country Club Hills, IL | $173,275,221 | $89,069,791 |
American Property Casualty Insurance Association Chicago, IL | $156,045,230 | $59,541,606 |
Society Of Manufacturing Engineers Southfield, MI | $77,116,365 | $66,156,404 |
Healthcare Information And Management Systems Society Chicago, IL | $52,722,997 | $65,054,367 |
Inter-Industry Conference On Auto Collision Repairs Hoffman Estates, IL | $98,841,828 | $60,778,547 |
Iowa Soybean Association Ankeny, IA | $41,040,308 | $49,594,198 |
Society Of Actuaries Professional Association Schaumburg, IL | $48,907,069 | $54,354,624 |
North Central States Regional Council Of Carpenters St Paul, MN | $80,577,529 | $40,138,567 |
Association Of Equipment Manufacturers Milwaukee, WI | $65,690,987 | $35,929,615 |
Ipc International Inc Bannockburn, IL | $35,069,140 | $30,776,508 |