Firearms Regulatory Accountability Coalition Inc
- Assets
- $269.7k
- Revenue
- $494.3k
- Investments
- $0.0
- Employees
- 1
- Location
- Bismarck, ND
- Founding
- Data as of
- 12/2022
- EIN
- 85-3036156
Organization Overview
Firearms Regulatory Accountability Coalition Inc is located in Bismarck, ND. 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. Firearms Regulatory Accountability Coalition Inc 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, Firearms Regulatory Accountability Coalition Inc generated $494.3k in total revenue. This represents relatively stable growth, over the past 2 years the organization has increased revenue by an average of 4.6% each year. All expenses for the organization totaled $273.6k during the year ending 12/2022. 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
THE MISSION OF THE ORGANIZATION IS TO ADVANCE THE COMMON BUSINESS INTERESTS OF MEMBERS OF THE FIREARMS INDUSTRY BY ENSURING THAT INDUSTRY MEMBERS RECEIVE FAIR AND CONSISTENT TREATMENT BY FIREARMS REGULATORY AGENCIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FRAC MAINTAINED LOBBYING COMMUNICATIONS WITH CONGRESS ON ISSUES GERMANE TO ITS MISSION AND IMPACTING THE FIREARMS INDUSTRY. FRAC CONDUCTED WEEKLY VIRTUAL MEETINGS WITH ITS LOBBYIST TO DETERMINE ISSUES OF PARTICULAR CONCERN AND LOBBYING STRATEGY. FRAC CONDUCTED A CONGRESSIONAL STAFF BRIEFING ON PROPOSED ATF RULES IN SEPTEMBER OF 2022, AND CAPITOL HILL VISITS WITH VARIOUS MEMBERS OF BOTH HOUSES OF CONGRESS. LOBBYING WAS APPROXIMATELY 30% OF FRAC'S TIME AND APPROXIMATELY $86,613.52 WAS EXPENDED ON THIS.
FRAC'S OFFICERS AND DIRECTORS SOLICITED NEW MEMBERS CONSTITUTING BUSINESSES, ORGANIZATIONS, AND OTHER ENTITIES OR PERSONS THAT ARE INTERESTED IN ADVANCING AND SUPPORTING THE PURPOSES OF FRAC. FRAC'S OFFICERS AND DIRECTORS CONDUCTED OPERATIONAL AND MANAGEMENT ACTIVITIES, SUCH AS COLLECTING DUES, REQUESTING DONATIONS, MAINTAINING ITS BOOKS AND RECORDS, AND PERFORMING OTHER ADMINISTRATIVE TASKS. INTERNAL GOVERNANCE WAS APPROXIMATELY 10% OF FRAC'S TIME AND APPROXIMATELY $85,505.06 WAS EXPENDED ON THIS.
FRAC CONDUCTED ANALYSIS OF ONGOING AND POTENTIAL LITIGATION TO DETERMINE ITS IMPACT ON THE FIREARMS INDUSTRY. FRAC PUBLISHED TO ITS WEBSITE UPDATES ON VARIOUS LITIGATION AFFECTING THE INDUSTRY. LITIGATION WAS APPROXIMATELY 30% OF FRAC'S TIME.
FRAC CONDUCTED RESEARCH ON AREAS OF LAW AND OTHER POLICY MATTERS IMPACTING THE INDUSTRY THROUGHOUT THE YEAR, TO SPECIFICALLY INCLUDE THE CONDUCT OF VARIOUS REGULATORY AGENCIES AFFECTING THE FIREARMS INDUSTRY. FRAC ALSO COMMUNICATED AND COORDINATED WITH ITS MEMBERS AND WITH OTHER LIKE-MINDED ORGANIZATIONS TO GATHER AND SHARE INFORMATION ON ISSUES FACING THE FIREARMS INDUSTRY. RESEARCH AND POLICY DEVELOPMENT WAS APPROXIMATELY 30% OF FRAC'S TIME,
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alessandro R Bosco Chairman; Treasurer | OfficerTrustee | 2 | $0 |
Jason A Davis Director | Trustee | 2 | $0 |
Jason A King Director | Trustee | 2 | $0 |
Jeffry E Creamer Director | Trustee | 2 | $0 |
Amy E Pevear Director | Trustee | 2 | $0 |
Craig H Metz Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $490,001 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,252 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $494,253 |
| Total Program Service Revenue | $0 |
| Investment income | $5 |
| 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 | $494,258 |
| 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. | $100,000 |
| Compensation of current officers, directors, key employees. | $10,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $8,084 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $101,765 |
| Fees for services: Accounting | $7,092 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $6,250 |
| Advertising and promotion | $2,543 |
| Office expenses | $3,137 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $3,300 |
| Travel | $10,921 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $8,191 |
| All other expenses | $763 |
| Total functional expenses | $273,614 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $261,883 |
| Savings and temporary cash investments | $0 |
| 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 | $7,551 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $275 |
| Total assets | $269,709 |
| Accounts payable and accrued expenses | $30,205 |
| 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 | $2,070 |
| Total liabilities | $32,275 |
| Net assets without donor restrictions | $0 |
| 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 | $237,434 |
| Total liabilities and net assets/fund balances | $269,709 |