Security Industry Association
- Assets
- $14.2m
- Revenue
- $7.4m
- Investments
- $0.0
- Employees
- 22
- Location
- Silver Spring, MD
- Founding
- 07/1973
- Data as of
- 12/2023
- EIN
- 95-2636066
Organization Overview
Security Industry Association, operating under the name Sia, is located in Silver Spring, MD. The organization was established in 1973. 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, Sia employed 22 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sia 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, Sia generated $7.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.3% each year. All expenses for the organization totaled $7.4m during the year ending 12/2023. While expenses have increased by 3.5% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
SEE PART III, LINE 1.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GOVERNMENT RELATIONS: THE ASSOCIATION'S GOVERNMENT RELATIONS PROGRAM EDUCATES ITS MEMBERS ABOUT SECURITY AND LIFE SAFETY LEGISLATIVE AND REGULATORY PROPOSALS THAT MAY IMPACT THEIR BUSINESSES; INTERACTS WITH GOVERNMENT OFFICIALS TO PROVIDE INPUT INTO AND POSITIVELY INFLUENCE THE DEVELOPMENT OF SUCH PROPOSALS BASED ON INPUT RECEIVED FROM MEMBERS; AND LIAISES WITH LIKE-MINDED ASSOCIATIONS AND NON-PROFIT ORGANIZATIONS TO SHARE INFORMATION ABOUT PUBLIC POLICIES OF COMMON INTEREST. THE GOVERNMENT RELATIONS DEPARTMENT ALSO CONVENES AN ANNUAL EDUCATIONAL CONFERENCE.
LEARNING AND DEVELOPMENT: THE ASSOCIATION'S LEARNING AND DEVELOPMENT PROGRAM IS INTENDED TO HELP INCREASE THE KNOWLEDGE AND SKILLS OF EMPLOYEES FROM MEMBER COMPANIES AS WELL AS THE INDUSTRY GENERALLY. SIA LEARNING AND DEVELOPMENT INITIATIVES INCLUDE CYBERSECURITY AND PROJECT MANAGEMENT CERTIFICATION PROGRAMS, REVIEW COURSES, AND BOTH LIVE, INSTRUCTOR-LED AND ON-DEMAND EDUCATIONAL CONTENT. THE LEARNING AND DEVELOPMENT PROGRAM ALSO OFFERS A MENTORING PROGRAM, AN EDUCATIONAL CONFERENCE FOR YOUNG PROFESSIONALS, AND AN APPRENTICESHIP PROGRAM.
STANDARDS: THE ASSOCIATION'S STANDARDS PROGRAM DEVELOPS ANSI-ACCREDITED STANDARDS THAT PROMOTE INTEROPERABILITY AND INFORMATION SHARING IN THE INDUSTRY. THE STANDARDS PROGRAM MANAGES AN ACCESS CONTROL PRODUCT CERTIFICATION PROGRAM. SIA MEMBERS COLLABORATE AND VOLUNTEER EXPERTISE, FEEDBACK AND COMMENTARY ON STANDARDS AND OTHER TECHNOLOGY DEVELOPMENT ACTIVITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Rothstein Chair | OfficerTrustee | 3 | $0 |
Scott Dunn Chair-Elect | OfficerTrustee | 1 | $0 |
Alex Housten Treasurer | OfficerTrustee | 1 | $0 |
Holly Borgmann Secretary | OfficerTrustee | 1 | $0 |
Jonathan Aguila Officer At Large | OfficerTrustee | 1 | $0 |
Pierre Trapanese Immediate Past Chair | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Aptify Association Database/content Managment S | 12/30/23 | $157,230 |
Idmachines Standards Engineering Test Lab | 12/30/23 | $132,948 |
Hilton Nashville Downtown Hotel Llc Conference Services | 12/30/23 | $113,637 |
Shearwater Global Ltd Lobbying Services | 12/30/23 | $132,000 |
Nortec It Management/support Services/apps | 12/30/23 | $102,997 |
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 | $537,387 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $537,387 |
| Total Program Service Revenue | $6,560,384 |
| Investment income | $254,086 |
| 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 | $7,351,857 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $66,859 |
| Grants and other assistance to domestic individuals. | $116,672 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,043,991 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,949,118 |
| Pension plan accruals and contributions | $86,074 |
| Other employee benefits | $369,868 |
| Payroll taxes | $191,330 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $43,539 |
| Fees for services: Accounting | $106,432 |
| Fees for services: Lobbying | $501,749 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $47,382 |
| Fees for services: Other | $143,423 |
| Advertising and promotion | $160,648 |
| Office expenses | $115,321 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $222,055 |
| Travel | $20,140 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,813,572 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $43,704 |
| Insurance | $54,617 |
| All other expenses | $832 |
| Total functional expenses | $7,364,004 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,406,682 |
| Savings and temporary cash investments | $31,427 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $284,012 |
| 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 | $332,888 |
| Net Land, buildings, and equipment | $167,813 |
| Investments—publicly traded securities | $10,124,909 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $405,000 |
| Other assets | $1,471,176 |
| Total assets | $14,223,907 |
| Accounts payable and accrued expenses | $308,385 |
| Grants payable | $0 |
| Deferred revenue | $329,427 |
| 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 | $1,652,397 |
| Total liabilities | $2,290,209 |
| Net assets without donor restrictions | $11,933,698 |
| 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 | $14,223,907 |
Grants Awarded
Over the last fiscal year, Security Industry Association has awarded $50,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
SECURITY INDUSTRY ALARM COALITION PURPOSE: ON-GOING NUISANCE ALARM CESSATION EFFORTS AND ALARM MANAGEMENT ISSUES | $25,000 |
FOUNDATION FOR ACQUIRING SECURITY TALENT PURPOSE: TO PROMOTE CAREERS IN THE PHYSICAL SECURITY TECHNOLOGY INDUSTRY | $25,000 |