National Association For Fixed Annuities
- Assets
- $1.4m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 4
- Location
- Brookfield, WI
- Founding
- 06/1998
- Data as of
- 12/2022
- EIN
- 54-1877987
Organization Overview
National Association For Fixed Annuities is located in Brookfield, WI. The organization was established in 1998. 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. As of 12/2022, National Association For Fixed Annuities employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. National Association For Fixed Annuities 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 For Fixed Annuities generated $1.4m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 6.1% each year. All expenses for the organization totaled $1.2m during the year ending 12/2022. While expenses have increased by 3.2% per year over the past 4 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
NAFA IS EXCLUSIVELY DEDICATED TO PROMOTING THE AWARENESS AND UNDERSTANDING OF FIXED INCOME AND DEFERRED ANNUITIES THROUGH THE EDUCATION OF POLICYMAKERS, JOURNALISTS, CONSUMERS, AND THE INDUSTRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATION/PROMOTION - NAFA PARTICIPATES IN PROMOTING JUNE AS NATIONAL ANNUITY AWARENESS MONTH BY CONTRIBUTING CONTENT TO ANNURETIREMENT.COM, PROMOTIONAL MATERIAL IN TRADE PUBLICATIONS, SOLICITATION OF STATE GOVERNORS FOR PROCLAMATIONS AND HOLDS ONE OF ITS TWO ANNUAL CONFERENCES DURING JUNE FOCUSED ON THE USE OF ANNUITIES IN RETIREMENT PLANNING. MONTHLY WEBINARS ARE PRODUCED TO EDUCATION INDUSTRY PROFESSIONALS ON FIXED ANNUITIES AND FIXED INDEXED ANNUITIES. ADDITIONALLY, WHITEPAPERS, TOOLKITS AND MEDIA RESPONSES WERE DEVELOPED AND WERE DISTRIBUTED TO ENHANCE THE UNDERSTANDING OF, AND COMPLIANCE WITH, THE USE OF ANNUITIES IN RETIREMENT PORTFOLIOS. NAFA WORKS WITH CAPCITY ADVOCATES TO ASSIST IN EDUCATING AND INFORMING FEDERAL REGULATORS, LEGISLATORS AND POLICYMAKERS ABOUT FIXED ANNUITIES AND THEIR ROLE IN FINANCIAL PLANNING INCREASE AWARENESS OF NAFA AND ITS MISSION. NAFA WORKS WITH OTHER TRADE ASSOCIATIONS IN ACTIVITIES ON BOTH THE STATE AND FEDERAL LEVEL THAT FURTHER OUR MISSION AND THE NUMBER OF AMERICANS WHO OWN A FIXED ANNUITY.
CONFERENCES - NAFA HELD THE ANNUITY LEADERSHIP FORUM IN JUNE IN WASHINGTON DC AND THE ANNUITY DISTRIBUTION SUMMIT IN SANTA MONICA CALIFORNIA IN 2022. BOTH CONFERENCES WERE DESIGNED TO EDUCATE AND INFORM ATTENDEES ABOUT FIXED ANNUITIES AND COMPLIANCE WITH REGULATIONS AND LEGISLATION GOVERNING FIXED ANNUITIES. THE EVENTS PROVIDED INNOVATIVE AND FORWARD-THINKING PRESENTATIONS BY THOUGHT LEADERS IN THE INDUSTRY AND THE BUSINESS COMMUNITY. BOTH CONFERENCES RESULTED IN NET REVENUE GAINS TO THE ASSOCIATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charles Divencenzo Jr Executive Director | Officer | 40 | $207,225 |
Pamela Heinrich Director Of Legal Govt Affairs | 40 | $101,904 | |
Heather Kane Chair | OfficerTrustee | 2 | $0 |
Mike Morrone Vice Chair | OfficerTrustee | 2 | $0 |
Kevin Mechtley Secretary | OfficerTrustee | 2 | $0 |
David Wolfe Treasurer | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $76,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $76,000 |
| Total Program Service Revenue | $1,343,272 |
| Investment income | $2,568 |
| 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 | $1,421,840 |
| 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 | $0 |
| Compensation of current officers, directors, key employees. | $218,386 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $283,628 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $48,121 |
| Payroll taxes | $34,192 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $32,570 |
| Fees for services: Accounting | $20,235 |
| Fees for services: Lobbying | $111,034 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $107,357 |
| Advertising and promotion | $8,970 |
| Office expenses | $13,882 |
| Information technology | $4,692 |
| Royalties | $0 |
| Occupancy | $3,227 |
| Travel | $51,232 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $269,355 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,584 |
| All other expenses | $0 |
| Total functional expenses | $1,233,780 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,379,060 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $21,443 |
| 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 | $30,000 |
| 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 | $1,430,503 |
| Accounts payable and accrued expenses | $34,991 |
| Grants payable | $0 |
| Deferred revenue | $538,750 |
| 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 | $573,741 |
| Net assets without donor restrictions | $856,762 |
| 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 | $1,430,503 |