National Association Of Insurance And Financial Advisors
- Assets
- $8.4m
- Revenue
- $10.8m
- Investments
- $1.8m
- Employees
- 57
- Location
- Falls Church, VA
- Founding
- 10/1942
- Data as of
- 12/2021
- EIN
- 53-0232489
Organization Overview
National Association Of Insurance And Financial Advisors is located in Falls Church, 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 12/2021, National Association Of Insurance And Financial Advisors employed 57 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 12/2021, National Association Of Insurance And Financial Advisors generated $10.8m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.2%) each year. All expenses for the organization totaled $9.9m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (3.6%) per year over the past 7 years. 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
2021
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 OR OUR MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LEGISLATIVE, 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 REALATED TO THE INDUSTRY, AND RAISES INDUSTRY AWARENESS TO THE PUBLIC.
NAIFA FOUNDATION FOR FINANCIAL SECURITY 25,000 FOUNDATION TO ERADICATE DUCHENNE 5,000 MISCELLANEOUS 508
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed CEO | Officer | 40 | $589,514 |
Michael Gerber COO & Genera | Officer | 40 | $293,673 |
Diane Boyle SVP Governme | 40 | $275,851 | |
Jennifer Cassidy VP Finance | Officer | 40 | $204,372 |
Phu Ngo VP Of Techno | 40 | $180,082 | |
Suzanne Carawan VP Of Marcom | 40 | $176,647 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Steptoe & Johnson Llp Legal Services | 12/30/21 | $300,897 |
Raffaniello & Associates Llc Legislative Con | 12/30/21 | $110,000 |
Danea Kehoe Legislative Con | 12/30/21 | $120,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $967,620 |
| All other contributions, gifts, grants, and similar amounts not included above | $907,470 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,875,090 |
| Total Program Service Revenue | $8,550,538 |
| Investment income | $82,932 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $43,429 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $51,727 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,756,132 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $30,508 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,161,935 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,649,161 |
| Pension plan accruals and contributions | $105,720 |
| Other employee benefits | $435,743 |
| Payroll taxes | $309,647 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,173 |
| Fees for services: Accounting | $21,216 |
| Fees for services: Lobbying | $540,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $24,120 |
| Fees for services: Other | $747,075 |
| Advertising and promotion | $141,467 |
| Office expenses | $429,923 |
| Information technology | $399,542 |
| Royalties | $0 |
| Occupancy | $792,601 |
| Travel | $124,755 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $300,805 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $173,972 |
| Insurance | $73,077 |
| All other expenses | $0 |
| Total functional expenses | $9,910,751 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $250 |
| Savings and temporary cash investments | $2,763,919 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,056,447 |
| 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 | $126,719 |
| Net Land, buildings, and equipment | $231,520 |
| Investments—publicly traded securities | $2,376,074 |
| Investments—other securities | $1,796,109 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $70,629 |
| Total assets | $8,421,667 |
| Accounts payable and accrued expenses | $2,742,288 |
| Grants payable | $0 |
| Deferred revenue | $1,772,850 |
| 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 | $499,400 |
| Other liabilities | $559,690 |
| Total liabilities | $5,574,228 |
| Net assets without donor restrictions | $2,783,425 |
| Net assets with donor restrictions | $64,014 |
| 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 | $8,421,667 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that National Association Of Insurance And Financial Advisors has recieved totaling $517.
| Awarding Organization | Amount |
|---|---|
Roy And Amanda Maybank Charitable Foundation Charleston, SC PURPOSE: GENERAL SUPPORT | $517 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Independent Insurance Agents And Brokers Of America Inc Alexandria, VA | $30,236,166 | $12,870,454 |
National Association Of Insurance And Financial Advisors Falls Church, VA | $8,421,667 | $10,756,132 |
Kentucky Insurance Guaranty Association Louisville, KY | $55,743,367 | $1,377,031 |
Wellness Advocacy Fund Fulton, MD | $42,284,192 | $3,562,740 |
Joint Insurance Association Ellicott City, MD | $2,641,203 | $770,233 |
Kentucky Automobile Insurance Plan Louisville, KY | $1,272,983 | $247,624 |
North Carolina Airports Association Elizabethtown, NC | $432,740 | $719,829 |
Afna Foundation Inc Washington, DC | $105,962 | $88,128 |