National Association Of Mortgage Brokers Inc
- Assets
- $1.7m
- Revenue
- $2.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Plano, TX
- Founding
- 09/1989
- Data as of
- 09/2022
- EIN
- 59-1673989
Organization Overview
National Association Of Mortgage Brokers Inc, operating under the name Namb The Assoc Of Mtg Professionals, is located in Plano, TX. The organization was established in 1989. 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. Namb The Assoc Of Mtg Professionals 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 09/2022, Namb The Assoc Of Mtg Professionals generated $2.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 21.1% each year . All expenses for the organization totaled $1.7m during the year ending 09/2022. While expenses have increased by 20.6% 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
NAMB IS THE NATIONAL TRADE ASSOCIATION FOR MORTGAGE PROFESSIONALS. THE ASSOCIATION OFFERS CERTIFICATION, EDUCATION, NATIONAL CONFERENCES AND LEGISLATIVE ADVOCACY FOR MORTGAGE PROFESSIONALS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONFERENCES: NAMB'S OFFER UNIQUE OPPORTUNITIES TO DEVELOP PROFESSIONAL SKILLS, DISCOVER THE LATEST TECHNOLOGY, NETWORK WITH PEERS, AND MEET WITH THE LARGEST GATHERING OF LENDERS AND OTHER SUPPLIERS IN THE INDUSTRY.
GOVERNMENT AFFAIRS REPRESENTATION: NAMB PROVIDES NAMB MEMBERS WITH THE OPPORTUNITY TO TRAVEL TO WASHINGTON DC AND MEET WITH THEIR REPRESENTATIVES AND SENATORS ON CAPITOL HILL.
EDUCATION: THE NAMB EDUCATION PROGRAM PROVIDES EDUCATIONAL OPPORTUNITIES TO MORTGAGE PROFESSIONALS. THROUGH COURSES TAUGHT IN CLASSROOM SETTINGS AND ONLINE COURSES, NAMB CREATES CONTINUING EDUCATION FOR PROFESSIONALS THAT MUST MEET STATE LICENSING REQUIREMENTS AND THOSE INTERESTED IN FURTHERING THEIR KNOWLEDGE OF THEIR INDUSTRY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Linda Mccoy President | OfficerTrustee | 20 | $30,000 |
Ernest Jones Jr President - Elect | OfficerTrustee | 10 | $0 |
Grady K White Immediate Past President | OfficerTrustee | 20 | $0 |
Arthur Carrasco Treasurer | OfficerTrustee | 10 | $0 |
Valerie Saunders Vice President | OfficerTrustee | 10 | $0 |
Michael Desantis Secretary | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $172,361 |
| Fundraising events | $0 |
| Related organizations | $403,087 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $592 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $576,040 |
| Total Program Service Revenue | $1,576,176 |
| Investment income | $84 |
| 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 | $2,152,300 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $153,100 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $13,230 |
| Fees for services: Management | $63,511 |
| Fees for services: Legal | $56,710 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $181,650 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $45,262 |
| Office expenses | $73,866 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $4,164 |
| Travel | $8,203 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $969,920 |
| Interest | $4,398 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $4,280 |
| Total functional expenses | $1,651,841 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $896,430 |
| Savings and temporary cash investments | $288,270 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $518,063 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,702,763 |
| 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 | $1,702,763 |
| 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 | $1,702,763 |
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