National Association Of Insurance And Financial Advisors
- Assets
- $6.4m
- Revenue
- $10.5m
- Investments
- $0.0
- Employees
- 59
- Location
- Arlington, VA
- Founding
- 10/1942
- Data as of
- 12/2022
- EIN
- 53-0232489
Organization Overview
National Association Of Insurance And Financial Advisors is located in Arlington, VA. The organization was established in 1942. According to its NTEE Classification (Y01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Mutual & Membership Benefit and related organizations. As of 12/2022, National Association Of Insurance And Financial Advisors employed 59 individuals. This organization is the central organization for a national or regional group of organizations. National Association Of Insurance And Financial Advisors 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 Association Of Insurance And Financial Advisors generated $10.5m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 18.8% each year . All expenses for the organization totaled $11.1m during the year ending 12/2022. While expenses have increased by 19.5% per year over the past 5 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
ADVOCATE FOR A POSITIVE LEGISLATIVE AND REGULATORY ENVIRONMENT, ENHANCE BUSINESS AND PROFESSIONAL SKILLS, AND PROMOTE THE ETHICAL CONDUCT OF OUR MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LEGISLATION, REGULATION, AND ETHICS - NATIONAL ASSOCIATION OF INSURANCE AND FINANCIAL ADVISORS (NAIFA) PROMOTES THE POSITION OF ITS MEMBERS ON ISSUES RELATING TO INSURANCE AND FINANCIAL SERVICES AT BOTH THE FEDERAL AND STATE LEVEL. NAIFA'S EFFORTS INCLUDE COORDINATION OF LOBBYING EFFORTS, GRASSROOTS PROGRAMS, PUBLIC RELATIONS, AND POLITICAL EDUCATION.
MEMBERSHIP BENEFITS AND PROFESSIONAL DEVELOPMENT- NAIFA OFFERS NUMEROUS PROFESSIONAL PROGRAMS AND PRODUCTS TO ENHANCE SKILLS AND PROVIDE VALUE-ADDED BUSINESS SERVICES.
PUBLICATIONS AND COMMUNICATIONS-NAIFA KEEPS ITS MEMBERS UP TO DATE ON LEGISLATIVE AND REGULATORY ISSUES THAT MAY AFFECT THEIR BUSINESSES, COMMUNICATES PROGRAMS AND SERVICES PROVIDED BY THE ORGANIZATION, PRODUCES VARIOUS PUBLICATIONS RELATED TO THE INDUSTRY, AND RAISES INDUSTRY AWARENESS TO THE PUBLIC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kevin M Mayeux CEO | Officer | 40 | $646,089 |
Michael Gerber COO & General Counsel | Officer | 40 | $312,546 |
Erni Davis CFO | Officer | 40 | $180,884 |
Diane Boyle Svp, Government Relations | 40 | $287,817 | |
Phu Ngo Vp, Technology | 40 | $186,884 | |
Suzanne Carawan Vp, Marketing & Communications | 40 | $189,195 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Steptoe & Johnson Llp Legal Services | 12/30/22 | $302,134 |
Danea M Kehoe Legislative Consulting | 12/30/22 | $120,000 |
Raffaniello & Associates Llc Legislative Consulting | 12/30/22 | $120,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $250 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,189,491 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,189,741 |
| Total Program Service Revenue | $9,084,726 |
| Investment income | $85,041 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $2,477 |
| Net Rental Income | $90,627 |
| Net Gain/Loss on Asset Sales | -$132,768 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,491,477 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $151,284 |
| Grants and other assistance to domestic individuals. | $71,050 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,208,358 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,836,003 |
| Pension plan accruals and contributions | $86,793 |
| Other employee benefits | $539,146 |
| Payroll taxes | $323,300 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,283 |
| Fees for services: Accounting | $46,436 |
| Fees for services: Lobbying | $540,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $26,697 |
| Fees for services: Other | $537,834 |
| Advertising and promotion | $108,689 |
| Office expenses | $411,222 |
| Information technology | $535,499 |
| Royalties | $0 |
| Occupancy | $742,569 |
| Travel | $367,603 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,011,280 |
| Interest | $21,649 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $138,234 |
| Insurance | $52,867 |
| All other expenses | $33,250 |
| Total functional expenses | $11,122,423 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,550,655 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $73,965 |
| 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 | $166,039 |
| Net Land, buildings, and equipment | $101,778 |
| Investments—publicly traded securities | $3,692,759 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $770,487 |
| Total assets | $6,355,683 |
| Accounts payable and accrued expenses | $1,225,190 |
| Grants payable | $0 |
| Deferred revenue | $1,823,589 |
| 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 | $499,400 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $465,361 |
| Total liabilities | $4,013,540 |
| Net assets without donor restrictions | $2,317,916 |
| Net assets with donor restrictions | $24,227 |
| 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 | $6,355,683 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Independent Insurance Agents And Brokers Of America Inc Alexandria, VA | $28,779,460 | $11,907,811 |
National Association Of Insurance And Financial Advisors Arlington, VA | $6,355,683 | $10,491,477 |
Kentucky Insurance Guaranty Association Louisville, KY | $54,661,741 | $4,610,383 |
Wellness Advocacy Fund Fulton, MD | $26,819,804 | $2,281,869 |
Joint Insurance Association Ellicott City, MD | $1,837,151 | $801,886 |
North Carolina Airports Association Elizabethtown, NC | $502,760 | $422,790 |
Kentucky Automobile Insurance Plan Louisville, KY | $1,190,068 | $347,004 |
Transformer Manufacturing Association Of America Washington, DC | $134,353 | $181,250 |
Afna Foundation Inc Washington, DC | $141,812 | $82,827 |
World Kachin Congress Incorporated Washington, DC | $88,641 | $0 |
Us Octg Manufacturers Association Washington, DC | $418,857 | $418,876 |