National Association Of Federal Credit Unions Inc
- Assets
- $31.2m
- Revenue
- $18.8m
- Investments
- $460.0k
- Employees
- 66
- Location
- Arlington, VA
- Founding
- 08/1972
- Data as of
- 12/2021
- EIN
- 95-2642719
Organization Overview
National Association Of Federal Credit Unions Inc, operating under the name Nat'l Assoc Of Fed-Ins Cus, is located in Arlington, VA. The organization was established in 1972. According to its NTEE Classification (W03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2021, Nat'l Assoc Of Fed-Ins Cus employed 66 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Nat'l Assoc Of Fed-Ins Cus 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, Nat'l Assoc Of Fed-Ins Cus generated $18.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.1% each year. All expenses for the organization totaled $17.1m during the year ending 12/2021. While expenses have increased by 3.1% 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.
Since 2016, Nat'l Assoc Of Fed-Ins Cus has awarded 59 individual grants totaling $968,230. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEMBERSHIP EDUCATIONAL CONFERENCES: NAFCU HOLDS AN ANNUAL CONFERENCE THAT ALLOWS MEMBERS TO LEARN ABOUT THE LATEST NEWS, ADVANCES IN TECHNOLOGY, AND INNOVATIVE PRODUCTS FOR CREDIT UNIONS. IN ADDITION, NAFCU HOLDS NUMEROUS OTHER EDUCATIONAL CONFERENCES DESIGNED TO EDUCATEMEMBERS ON MORE SPECIALIZED TOPICS.
COMMUNICATIONS/LEGISLATIVE/REGULATORY/COMPLIANCE: KEEPS MEMBERS UP-TO-DATE ON ALL OF THE RULES AND LAWS GONVERNING CREDIT UNIONS AS WELL AS PROVIDING COMPLIANCE ASSISTANCE.
PRODUCTS & SERVICES: INCLUDES THE NAFCU JOURNAL, A BI-MONTHLY PERIODICAL ABOUT TRENDS IN CREDIT UNIONS AND OTHER PUBLICATION SUCH AS THE WEEKLY UPDATE NEWSLETTER AND REGULATORY ALERTS PUBLISHED FOR MEMBERS. ALSO INCLUDED ARE VARIOUS TRAINING RESOURCES AVAILABLE TO BOTH MEMBERS AND THE GENERAL PUBLIC.
2021 ACCOMPLISHMENTSNAFCU PROVIDES THE INDUSTRY'S LEADING ACE - ADVOCACY, COMPLIANCE, AND EDUCATION - AS PART OF OUR COMMITMENT TO HELPING CREDIT UNIONS OVERCOME CHALLENGES INORDER TO THRIVE. WE ARE DEDICATED TO FIGHTING FOR EFFECTIVE REGULATION THAT SUPPORTS MEMBER OPERATIONS AND WE WORK HARD TO ENSURE POLICYMAKERS RECOGNIZE THEOVERWHELMING BENEFITS THE CREDIT UNION INDUSTRY OFFERS.NAFCU IS COMMITTED TO SECURING REGULATORY RELIEF AND FLEXIBILITY FOR CREDIT UNIONS AND IN 2021 THE INDUSTRY MADE GREAT STRIDES TOWARD OVERCOMING THE OPERATIONAL CHALLENGES AND ECONOMIC STRUGGLES AS A RESULT OF THE CORONAVIRUS PANDEMIC. OUR BOLD ADVOCACY STRATEGY SECURED SEVERAL LEGISLATIVE AND REGULATORY WINS THROUGHOUT 2021 TO ENSURE CREDIT UNIONS AND THEIR 130 MILLION MEMBERS WERE NOT PLAGUED WITH BURDENSOME ROADBLOCKS ON THE PATH TO CONTINUED SUCCESS.THROUGHOUT THE YEAR, WE LED EFFORTS TO OPPOSE SEVERAL BURDENSOME LEGISLATIVE PROPOSALS, AS WELL AS ENGAGE CONGRESS TO ADVANCE LEGISLATION TO HELP KEEP CREDITUNION MEMBERS SAFE. THE ASSOCIATION STAUNCHLY OPPOSED A PROPOSAL TO ENHANCE IRS ACCOUNT REPORTING, AS WELL AS A PROVISION TO GRANT THE SMALL BUSINESS ADMINISTRATION WITH ADDITIONAL DIRECT LENDING AUTHORITY.IN 2021, DIGITAL ASSETS TOOK CENTER STAGE AND THE ASSOCIATION WORKED WITH THE NCUA AND LAWMAKERS TO ENSURE CREDIT UNIONS WERE NOT EXCLUDED FROM FOUNDATIONAL FEDERAL DIGITAL ASSETS REGULATION AND LEGISLATION. NAFCU ALSO ENCOURAGED THE NCUA TO FOSTER STRONG FINTECH PARTNERSHIPS TO HELP CREDIT UNIONS PROVIDE THE PRODUCTS AND SERVICES THEIR MEMBERS WANT AND NEED, AND WE SUCCESSFULLY ADVOCATED FOR THE NCUA TO ACKNOWLEDGE THE AUTHORITY OF CREDIT UNIONS TO PARTNER WITH THIRD PARTY BROKER-DEALERS TO OFFER CERTAIN DIGITAL ASSETS SERVICES.AT NAFCU, THE ASSOCIATION'S REGULATORY COMPLIANCE TEAM ANSWERED NEARLY 7,000 QUESTIONS FROM MEMBERS VIA THE DIRECT COMPLIANCE ASSISTANCE PROGRAM AND PUBLISHED OVER 160 BLOG POSTS, ARTICLES, CHARTS, GUIDES AND TOOLS - TOTALING OVER 1,200 PAGES.TO PROVIDE OUR MEMBERS WITH THE INDUSTRY'S BEST EDUCATIONAL OPPORTUNITIES, OUR EDUCATION AND EVENTS TEAMS CURATED 13 VIRTUAL AND HYBRID CONFERENCES AND EVENTS FOR OUR MEMBERS. ADDITIONALLY, OUR ONLINE TRAINING CENTER SERVED MORE THAN 5,400 CREDIT UNION INDUSTRY PROFESSIONALS WHO STREAMED 18,000+ HOURS OF CONTENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
B Daniel Berger President/ceo | Officer | 50 | $1,161,900 |
Anthony Demangone Evp/coo | Officer | 50 | $486,766 |
Carrie Hunt Evp, Gov't Affairs/gen. Counsel (to Jun '21) | Officer | 50 | $302,911 |
Catherine Porterfield Vp. Membership & Sales | 40 | $253,565 | |
Bradford Thaler Vp, Legislative Affairs | 40 | $241,797 | |
Brandy Bruyere Vp, Regulatory Compliance (to Dec '21) | 40 | $240,978 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Hbw Construction Constructions Services | 12/30/21 | $247,806 |
York Telecom Web Recording Studio Services | 12/30/21 | $650,762 |
Korn Ferry Staff Recruitment & Training Services | 12/30/21 | $226,620 |
Grayrobinson Trade Association Lobbying | 12/30/21 | $130,000 |
Opal Key West Resort & Marina Conference Services | 12/30/21 | $111,186 |
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 | $1,082,111 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,082,111 |
| Total Program Service Revenue | $17,184,240 |
| Investment income | $237,254 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $194,247 |
| Net Gain/Loss on Asset Sales | $38,862 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $18,837,903 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $194,520 |
| 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. | $2,091,544 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,706,843 |
| Pension plan accruals and contributions | $484,714 |
| Other employee benefits | $837,866 |
| Payroll taxes | $592,409 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $13,284 |
| Fees for services: Accounting | $44,302 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $731,102 |
| Advertising and promotion | $388,347 |
| Office expenses | $374,554 |
| Information technology | $1,058,268 |
| Royalties | $0 |
| Occupancy | $619,131 |
| Travel | $66,316 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,209,997 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $473,546 |
| Insurance | $78,753 |
| All other expenses | $0 |
| Total functional expenses | $17,132,837 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,683,220 |
| Savings and temporary cash investments | $13,735,198 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $57,285 |
| Loans from Officers, Directors, or Controlling Persons | $2,612,775 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $394,350 |
| Net Land, buildings, and equipment | $2,460,901 |
| Investments—publicly traded securities | $7,805,099 |
| Investments—other securities | $459,996 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $976,209 |
| Total assets | $31,185,033 |
| Accounts payable and accrued expenses | $2,354,657 |
| Grants payable | $0 |
| Deferred revenue | $11,547,017 |
| 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 | $406,252 |
| Total liabilities | $14,307,926 |
| Net assets without donor restrictions | $13,994,481 |
| Net assets with donor restrictions | $2,882,626 |
| 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 | $31,185,033 |
Grants Awarded
Over the last fiscal year, National Association Of Federal Credit Unions Inc has awarded $189,521 in support to 12 organizations.
| Grant Recipient | Amount |
|---|---|
Arlington, VA PURPOSE: GENERAL SUPPORT | $49,000 |
Hershey, PA PURPOSE: MATCH OF PAC DONATIONS PROGRAM - PLEDGE OWED NOT PAID, NOT TAX DEDUCTIBLE PER FEC | $25,429 |
Eugene, OR PURPOSE: MATCH OF PAC DONATIONS PROGRAM - PLEDGE OWED NOT PAID, NOT TAX DEDUCTIBLE PER FEC | $15,314 |
Portland, OR PURPOSE: MATCH OF PAC DONATIONS PROGRAM - PLEDGE OWED NOT PAID, NOT TAX DEDUCTIBLE PER FEC | $15,314 |
Alexandria, VA PURPOSE: GENERAL SUPPORT | $15,000 |
Alexandria, VA PURPOSE: GENERAL SUPPORT | $15,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Municipal Securities Rulemaking Board Washington, DC | $78,531,119 | $35,699,202 |
American Gas Association Washington, DC | $54,599,533 | $35,694,026 |
National Association Of Corporate Directors Arlington, VA | $39,765,653 | $29,674,430 |
Association Of The United States Army Inc Arlington, VA | $92,353,784 | $27,615,070 |
National Association Of Counties Washington, DC | $110,279,270 | $28,057,928 |
American Public Power Assoc Arlington, VA | $27,597,409 | $24,009,237 |
American Public Transit Association Washington, DC | $25,928,823 | $18,627,373 |
National Association Of Federal Credit Unions Inc Arlington, VA | $31,185,033 | $18,837,903 |
National Telecommunications Cooperative Association Arlington, VA | $35,978,919 | $14,734,223 |
Nreca International Ltd Arlington, VA | $16,103,141 | $13,958,230 |
United States Telecom Association Washington, DC | $26,999,064 | $14,419,422 |
National Association Of Regulatory Utility Commissioners Washington, DC | $14,588,498 | $9,839,643 |