Civic Intelligence

Nfc Forum Inc

990 • Fiscal year 2020 • EIN 20-1752543

Nov 01, 2019 to Oct 31, 2020 • Filed on Aug 26, 2021

Organization Profilenfc-forum.org
401 Edgewater PlaceWakefield, MA 01880

(781) 246-0050

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

84th percentile

0.47x

Higher debt load relative to assets than 84% of similar nonprofits.

2020 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

77th percentile

0.49x

Higher debt load relative to revenue than 77% of similar nonprofits.

2020 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2020

Net Margin

66th percentile

12%

Higher net margin than 66% of similar nonprofits.

2020 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

23rd percentile

$0

Higher top officer pay than 23% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2020 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2020

Asset Growth

70th percentile

13%

Faster asset growth than 70% of similar nonprofits.

2020 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

58th percentile

-5.0%

Faster revenue growth than 58% of similar nonprofits.

2020 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets84th percentile

Assets

Up

$1,899,401

Up $218,865 (+13%) from 2019

Net Assets

Up

$1,013,825

Up $208,816 (+26%) from 2019

Liabilities

Up

$885,576

Up $10,049 (+1.1%) from 2019

Revenue And Expenses
Liabilities / Revenue77th percentileNet Margin66th percentile

Revenue

Down

$1,800,460

Down $93,893 (-5.0%) from 2019

Expenses

Down

$1,591,644

Down $143,527 (-8.3%) from 2019

Net Income

Up

$208,816

Up $49,634 (+31%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth70th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$3.0M$2.0M$1.0M$0Assets 2012: $1,528,245Liabilities 2012: $1,127,293Net Assets 2012: $400,9522012Assets 2013: $2,052,911Liabilities 2013: $1,342,926Net Assets 2013: $709,9852013Assets 2014: $2,018,546Liabilities 2014: $1,341,972Net Assets 2014: $676,5742014Assets 2015: $1,881,929Liabilities 2015: $1,256,347Net Assets 2015: $625,5822015Assets 2016: $1,514,225Liabilities 2016: $917,052Net Assets 2016: $597,1732016Assets 2017: $1,385,935Liabilities 2017: $848,145Net Assets 2017: $537,7902017Assets 2018: $1,592,953Liabilities 2018: $947,126Net Assets 2018: $645,8272018Assets 2019: $1,680,536Liabilities 2019: $875,527Net Assets 2019: $805,0092019Assets 2020: $1,899,401Liabilities 2020: $885,576Net Assets 2020: $1,013,8252020Assets 2021: $1,951,319Liabilities 2021: $875,771Net Assets 2021: $1,075,5482021Assets 2022: $1,845,596Liabilities 2022: $765,213Net Assets 2022: $1,080,3832022Assets 2023: $1,884,917Liabilities 2023: $742,160Net Assets 2023: $1,142,7572023Assets 2024: $1,657,458Liabilities 2024: $775,831Net Assets 2024: $881,6272024

Highlighted filing

2020

Assets$1,899,401
Liabilities$885,576
Net Assets$1,013,825
Open 2020 Filing

Operations Trend

Revenue Growth58th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2012: $2,663,895Expenses 2012: $2,516,672Net Income 2012: $147,2232012Revenue 2013: $2,646,567Expenses 2013: $2,337,564Net Income 2013: $309,0032013Revenue 2014: $2,631,734Expenses 2014: $2,665,145Net Income 2014: -$33,4112014Revenue 2015: $2,431,381Expenses 2015: $2,482,373Net Income 2015: -$50,9922015Revenue 2016: $2,185,197Expenses 2016: $2,213,606Net Income 2016: -$28,4092016Revenue 2017: $1,941,240Expenses 2017: $2,000,623Net Income 2017: -$59,3832017Revenue 2018: $1,825,977Expenses 2018: $1,717,940Net Income 2018: $108,0372018Revenue 2019: $1,894,353Expenses 2019: $1,735,171Net Income 2019: $159,1822019Revenue 2020: $1,800,460Expenses 2020: $1,591,644Net Income 2020: $208,8162020Revenue 2021: $1,514,066Expenses 2021: $1,452,343Net Income 2021: $61,7232021Revenue 2022: $1,629,792Expenses 2022: $1,624,957Net Income 2022: $4,8352022Revenue 2023: $1,549,542Expenses 2023: $1,487,168Net Income 2023: $62,3742023Revenue 2024: $1,509,038Expenses 2024: $1,770,167Net Income 2024: -$261,1292024

Highlighted filing

2020

Revenue$1,800,460
Expenses$1,591,644
Net Income$208,816
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Nov 1, 2019 to Oct 31, 2020
Signed
Aug 26, 2021
Return Version
2019v5.0
Gross Receipts
$1,800,460
Mission and Program Overview

Mission

The Near Field Communication Forum was formed to advance the use of Near Field Communication technology by developing specifications, ensuring interoperability among devices and services, and educating the market about NFC technology. Formed in 2004, the Forum now has 117 members. Manufacturers, applications developers, financial services institutions, and more all work together to promote the use of NFC technology in consumer electronics, mobile devices, and PCs.

The Near Field Communication Forum was formed to advance the use of Near Field Communication technology by developing specifications, ensuring interoperability among devices and services, and educating the market about NFC technology.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$1,122,341$1,123,655▲ $1,314
Cash and Non-Interest-Bearing Accounts$490,989$752,618▲ $261,629
Accounts Receivable$17,625$14,700▼ $2,925
Prepaid Expenses and Deferred Charges$49,581$8,428▼ $41,153
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$1,680,536$1,899,401▲ $218,865
Other Assets Total-$0-
Liabilities
Deferred Revenue$611,335$552,416▼ $58,919
Other Liabilities$144,708$215,000▲ $70,292
Accounts Payable and Accrued Expenses$119,484$118,160▼ $1,324
Total Liabilities$875,527$885,576▲ $10,049
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$805,009$1,013,825▲ $208,816
Total Net Assets Fund Balance$805,009$1,013,825▲ $208,816
Total Liabilities and Net Assets / Fund Balance$1,680,536$1,899,401▲ $218,865
Compensation and Service Providers
Top Officer Pay23rd percentile

Board Members and Trustees

NameTitle
Koichi TagawaChairman
Fabrice PunchDir.&Vice Chair
Preeti Ohri KhemaniVice Chair
Alisher AlikhodjaevDirector
Andrew DavidsonDirector
Barbara PattersonDirector
Dawei ZhangDirector
Masayuki TakezawaDirector
Maurizio SkerljDirector
Laurent SourgenTreasurer & Director
Frank DawidowskySecretary

Highest Paid Contractors

ContractorServicesLocationCompensation
Virtual IncManagement Fees401 Edgewater Place Suite 600, Wakefield, MA 01880, Sw$877,393
Wendel StenConsulting-$130,875
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,799,146
Investment Income
$1,314
Other Revenue
$0
Change in Net Assets
$208,816
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,591,644
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management---$428,560
Conferences and Meetings---$213,777
Advertising---$199,642
All Other Expenses---$125,414
Information Technology---$83,027
Other Expenses---$70,534
Fees for Services Legal---$32,959
Insurance---$2,410
Fees for Services Accounting---$2,110
Total Functional Expenses$0$0$0$1,591,644
International Activity

International Summary

Spending
$47,439

International Compliance

Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
East Asia and the PacificProgram ServicesMember Meetings00$36,341
EuropeProgram ServicesMember Meetings00$11,098
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Prepaid conference and membership fees$215,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Line 3: Description of Delegated Duties to Management Company

“NFC Forum delegated all Management, Adminstrative, Membership, Events and Meetings, Financial and Public Relations duties to Virtual, Inc.”

Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder

“NFC Forum has 6 levels of membership: Sponsor, Principal, Associate, Implementer, Startup-Implementer, and Non-Profit. All members receive these benefits:Access to the NFC Forum Members Community websiteAccess to all published Forum specifications at no chargeAttendance at plenary meetings of the ForumAbility to participate in product interoperability testing/PlugfestsAbility to participate in theNFC Forum Certification Program (open only to members)Access to Forum research, technical information, and other resourcesOpportunities for peer-to-peer collaborationYour company name, logo, and press releases displayed on the Forum websiteUse of the NFC Forum logo on your website to indicate membershipOnly Sponsor members are allowed to elect a representative to the Board of Directors.”

Form 990, Part VI, Line 11B: Form 990 Review Process

“The Management company and select officers review the 990 before it is filed.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“NFC Forum, Inc. makes the organization's bylaws available on their website. Other governing documents, policies, and financial statements are made available upon request.”

Filing and Contact Details

Filer

Filer Name
NFC Forum Inc
EIN
20-1752543
Phone
7812460050
Address
401 Edgewater Place, Wakefield, MA 01880

Signing Officer

Name
Laurent Sourgen
Title
Treasurer
Signed
2021-08-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Laurent Sourgen
Formed
2004
Legal Domicile
De
Voting Board Members
8
Independent Board Members
8
Employees
0

Preparer

Firm
Ruane & Company LLP
Address
12 Alfred Street Suite 206, Woburn, MA 01801
Preparer
Thomas M Ruane CPA
Phone
7816430090
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0NFC Forum delegated all Management, Adminstrative, Membership, Events and Meetings, Financial and Public Relations duties to Virtual, Inc.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1NFC Forum has 6 levels of membership: Sponsor, Principal, Associate, Implementer, Startup-Implementer, and Non-Profit. All members receive these benefits:Access to the NFC Forum Members Community websiteAccess to all published Forum specifications at no chargeAttendance at plenary meetings of the ForumAbility to participate in product interoperability testing/PlugfestsAbility to participate in theNFC Forum Certification Program (open only to members)Access to Forum research, technical information, and other resourcesOpportunities for peer-to-peer collaborationYour company name, logo, and press releases displayed on the Forum websiteUse of the NFC Forum logo on your website to indicate membershipOnly Sponsor members are allowed to elect a representative to the Board of Directors.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The Management company and select officers review the 990 before it is filed.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3NFC Forum, Inc. makes the organization's bylaws available on their website. Other governing documents, policies, and financial statements are made available upon request.
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,899,401
Liabilities
$885,576
Net assets
$1,013,825
Revenue
$1,800,460
Expenses
$1,591,644
Net income
$208,816
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.66$0.78$0.88$1.51$1.77$0.26
2023Detailed filing. Detailed filing data is available for this year.$1.88$0.74$1.14$1.55$1.49$0.06
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.85$0.77$1.08$1.63$1.62$0.00
2021Detailed filing. Detailed filing data is available for this year.$1.95$0.88$1.08$1.51$1.45$0.06
2020Detailed filing. Detailed filing data is available for this year.$1.90$0.89$1.01$1.80$1.59$0.21
2019Detailed filing. Detailed filing data is available for this year.$1.68$0.88$0.81$1.89$1.74$0.16
2018Detailed filing. Detailed filing data is available for this year.$1.59$0.95$0.65$1.83$1.72$0.11
2017Detailed filing. Detailed filing data is available for this year.$1.39$0.85$0.54$1.94$2.00$0.06
2016Detailed filing. Detailed filing data is available for this year.$1.51$0.92$0.60$2.19$2.21$0.03
2015Detailed filing. Detailed filing data is available for this year.$1.88$1.26$0.63$2.43$2.48$0.05
2014Detailed filing. Detailed filing data is available for this year.$2.02$1.34$0.68$2.63$2.67$0.03
2013Summary only. Only limited summary data is available for this year.$2.05$1.34$0.71$2.65$2.34$0.31
2012Summary only. Only limited summary data is available for this year.$1.53$1.13$0.40$2.66$2.52$0.15