National Society Of Accountants For Cooperatives
- Assets
- $1.8m
- Revenue
- $479.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Dayton, OH
- Founding
- 01/1990
- Data as of
- 12/2021
- EIN
- 56-6045918
Organization Overview
National Society Of Accountants For Cooperatives, operating under the name Nsac, is located in Dayton, OH. The organization was established in 1990. According to its NTEE Classification (S02) the organization is classified as: Management & Technical Assistance, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is a parent organization of an affiliated group for tax-exemption purposes. Nsac 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, Nsac generated $479.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (3.1%) each year. All expenses for the organization totaled $342.0k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (3.5%) per year over the past 6 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
TO ENHANCE THE PROFESSIONAL IMAGE AND PERFORMANCES OF INDIVIDUAL NSAC MEMBERS IN THEIR SERVICE COOPERATIVES
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATION: CONFERENCE, SEMINARS/WEBINARS, COIMMITTEE MEETINGS - PROVIDE EDUCATION AND NETWORKING OPPORTUNITIES TO ALL WHO ATTEND - MEMBERS AND NON MEMBERS INTERESTED IN COOPERATIVE ACCOUNTING AND TAX ISSUES. PROMOTION AND DISCUSSION OF ACCOUNTING STANDARDS, CHANGES TO AND APPLICATION OF TAX LAW, AND RELATED BEST PRACTICES FOR THE COOPERATIVE INDUSTRY ARE INCLUDED IN THESE MEETINGS. PROGRAMS INCLUDE CO-HOSTING THE TAX FINANCE AND ACCOUNTING CONFERENCE FOR COOPERATIVES AND HOSTING ONLINE COOPERATIVE LEARNING NETWORK SEMINARS/WEBINARS (CLN). STARTING IN THE FALL OF 2017 CLN REGISTRATION FEES ARE INCLUDED IN ANNUAL MEMBERSHIP DUES. AN ESTIMATED TOTAL OF 800 UNIQUE MEMBERS PARTICIPATED IN THESE OFFERINGS DURING THE YEAR. THE ASSOCIATION HAS SIX MAJOR AND ACTIVE NATIONAL COMMITTEES, COMPRISED OF APPROXIMATELY 100 VOLUNTEER MEMBERS. THESE COMMITTEES RESEARCH RELATED ACCOUNTING AND TAX ISSUES AND HELP PLAN CONTENT AND RESOURCES AVAILABLE FOR THE CONFERENCES, SEMINARS AND CLN SESSIONS.
RESOURCES: PUBLICATIONS OF COOPERATIVE LEARNING MATERIALS - PROVIDED TO ALL MEMBERS AND LIMITED ITEMS ARE AVAILABLE TO NON MEMBERS FOR A FEE. EXCLUSIVE CONTENT AND INTERACTION IS AVAILABLE ON THE WEBSITE FOR MEMBERS ONLY. THESE PROGRAMS INCLUDE PUBLISHING AND DISTRIBUTING A QUARTERLY TRADE JOURNAL. "THE COOPERATIVE ACCOUNTANT AND UPDATING THE ONLINE MEMBER-ONLY CONTENT REGARDING PUBLICATIONS AND RESEARCH DATABASE LIBRARY SPECIFIC TO ACCOUNTING AND TAX ISSUES OF COOPERATIVES. DURING THE YEAR, THE TOTAL AVERAGE MEMBERSHIP COUNT OF MEMBERS WITH ACCESS TO THESE SERVICES WAS APPROXIMATELY 1500.
CONNECTIONS: CREATION AND IMPLEMENTATION OF THE NSAC CONNECT ONLINE COMMUNITY PLATFORM, WHICH ALLOWS MEMBERS (~1,500) TO NETWORK ON A NATIONAL, CHAPTER AND COMMITTEE LEVEL. THE SOCIETY ALSO USES THIS PLATFORM TO COMMUNICATE WITH THE MEMBERS AND TO ENCOURAGE MEMBERS TO EXCHANGE INFORMATION PERTAINING TO COOPERATIVES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dave Antoni President 21-22 | OfficerTrustee | 4 | $0 |
Eric Krienert Vice President 21-22 | OfficerTrustee | 3 | $0 |
Erik Gillam Treasurer 21-22 | OfficerTrustee | 3 | $0 |
Nick Mueting Immediate Past President 1 | OfficerTrustee | 3 | $0 |
Kent Erhardt Secretary 21-22 | OfficerTrustee | 3 | $0 |
Kimberly Fantaci Executive Director | Officer | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| 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 | $0 |
| Total Program Service Revenue | $351,082 |
| Investment income | $30,743 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $97,723 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $479,548 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $10,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $117,060 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,350 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $6,722 |
| Fees for services: Other | $7,225 |
| Advertising and promotion | $495 |
| Office expenses | $12,107 |
| Information technology | $61,684 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $3,129 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $64,036 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,394 |
| All other expenses | $0 |
| Total functional expenses | $341,953 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $135,243 |
| Savings and temporary cash investments | $945,877 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,375 |
| 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 | $0 |
| Investments—publicly traded securities | $734,486 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,817,981 |
| Accounts payable and accrued expenses | $126,514 |
| Grants payable | $0 |
| Deferred revenue | $3,999 |
| 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 | $130,513 |
| Net assets without donor restrictions | $1,687,468 |
| 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 | $1,817,981 |
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