National Federation Of Independent Business Inc
- Assets
- $105.9m
- Revenue
- $113.3m
- Investments
- $0.0
- Employees
- 834
- Location
- Nashville, TN
- Founding
- 08/1953
- Data as of
- 12/2023
- EIN
- 94-0707299
Organization Overview
National Federation Of Independent Business Inc is located in Nashville, TN. The organization was established in 1953. 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 12/2023, National Federation Of Independent Business Inc employed 834 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. National Federation Of Independent Business 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 12/2023, National Federation Of Independent Business Inc generated $113.3m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.6% each year. All expenses for the organization totaled $123.6m during the year ending 12/2023. While expenses have increased by 2.9% per year over the past 8 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.
Since 2016, National Federation Of Independent Business Inc has awarded 46 individual grants totaling $2,775,311. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
NATIONAL FEDERATION OF INDEPENDENT BUSINESS' MISSION IS TO PROMOTE AND PROTECT (SEE SCH O)
Describe the Organization's Program Activity:
Part 3 - Line 4a
NFIB IS A NONPARTISAN ADVOCACY ORGANIZATION THAT REPRESENTS SEVERAL HUNDRED THOUSAND SMALL AND INDEPENDENT BUSINESSES IN ALL FIFTY STATES. NFIB LOBBIES ON BEHALF OF SMALL AND INDEPENDENT BUSINESS AT THE FEDERAL LEVEL AND IN ALL FIFTY STATES. THROUGH ITS COMMUNICATION ACTIVITIES, NFIB ALSO PROVIDES ITS MEMBERS, ELECTED OFFICIALS, NEWS MEDIA AND THE GENERAL PUBLIC WITH INFORMATION REGARDING THE IMPORTANCE OF SMALL AND INDEPENDENT BUSINESS AND THE VALUE OF THE FREE ENTERPRISE SYSTEM. NFIB ALSO CONDUCTS RESEARCH ON SMALL BUSINESS POLICY-RELATED ISSUES AND ECONOMIC TRENDS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brad Close President | OfficerTrustee | 37 | $1,064,052 |
Sam Chamberlain Chairman | Trustee | 1 | $36,000 |
Steve Schramm Director | Trustee | 1 | $25,171 |
Jeff Ready Director | Trustee | 1 | $24,427 |
Jose Villa Director | Trustee | 1 | $24,203 |
Maria David Director | Trustee | 1 | $24,081 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Plus Communications Advertising | 12/30/23 | $1,135,498 |
Pitney Bowes Presort Services Llc Presort Services | 12/30/23 | $800,765 |
National Capital Teleservices Llc Telemarketing | 12/30/23 | $412,751 |
Abila Inc Software Service | 12/30/23 | $310,152 |
Indeed Inc Advertising/staffing | 12/30/23 | $298,402 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $191,959 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,156,423 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,348,382 |
| Total Program Service Revenue | $105,208,161 |
| Investment income | $2,332,677 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $1,979,678 |
| Net Rental Income | $360,963 |
| Net Gain/Loss on Asset Sales | $123,935 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $113,302,030 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $536,504 |
| 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. | $6,167,585 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $59,945,866 |
| Pension plan accruals and contributions | $20,380,406 |
| Other employee benefits | $6,687,468 |
| Payroll taxes | $4,588,265 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $217,035 |
| Fees for services: Accounting | $151,381 |
| Fees for services: Lobbying | $1,348,279 |
| Fees for services: Fundraising | $393,458 |
| Fees for services: Investment Management | $167,936 |
| Fees for services: Other | $3,035,578 |
| Advertising and promotion | $1,879,188 |
| Office expenses | $5,086,878 |
| Information technology | $2,038,149 |
| Royalties | $0 |
| Occupancy | $3,073,720 |
| Travel | $5,770,428 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,012,407 |
| Interest | $25,397 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $720,615 |
| Insurance | $328,738 |
| All other expenses | $0 |
| Total functional expenses | $123,555,281 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $18,017,688 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,013,281 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $217,177 |
| Prepaid expenses and deferred charges | $1,297,116 |
| Net Land, buildings, and equipment | $4,474,024 |
| Investments—publicly traded securities | $61,947,283 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $18,959,882 |
| Total assets | $105,926,451 |
| Accounts payable and accrued expenses | $24,833,331 |
| Grants payable | $0 |
| Deferred revenue | $21,696,307 |
| 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 | $20,111,494 |
| Total liabilities | $66,641,132 |
| Net assets without donor restrictions | $39,148,871 |
| Net assets with donor restrictions | $136,448 |
| 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 | $105,926,451 |
Grants Awarded
Over the last fiscal year, National Federation Of Independent Business Inc has awarded $530,746 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
NFIB THE VOICE OF FREE ENTERPRISE INC PURPOSE: GENERAL SUPPORT | $499,246 |
JUNIOR ACHIEVEMENT OF MIDDLE TENNESSEE INC PURPOSE: GENERAL SUPPORT | $6,500 |
REPUBLICAN STATE LEADERSHIP COMMITTEE PURPOSE: GENERAL SUPPORT | $15,000 |
REPUBLICAN GOVERNORS ASSOCIATION PURPOSE: GENERAL SUPPORT | $10,000 |