Civic Intelligence

Nfc Forum Inc

990 • Fiscal year 2022 • EIN 20-1752543

Nov 01, 2021 to Oct 31, 2022 • Filed on Aug 25, 2023

401 Edgewater Place Suite 600Wakefield, MA 01880

(781) 246-0500

Siviq Scores

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

Liabilities / Assets

80th percentile

0.41x

Higher debt load relative to assets than 80% of similar nonprofits.

2022 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

78th percentile

0.47x

Higher debt load relative to revenue than 78% of similar nonprofits.

2022 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2022

Net Margin

34th percentile

0.3%

Higher net margin than 34% of similar nonprofits.

2022 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

26th percentile

$0

Higher top officer pay than 26% of similar nonprofits.

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

2022 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2022

Asset Growth

30th percentile

-5.4%

Faster asset growth than 30% of similar nonprofits.

2022 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

49th percentile

7.6%

Faster revenue growth than 49% of similar nonprofits.

2022 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Assets

Down

$1,845,596

Down $105,723 (-5.4%) from 2021

Net Assets

Up

$1,080,383

Up $4,835 (+0.4%) from 2021

Liabilities

Down

$765,213

Down $110,558 (-13%) from 2021

Revenue

Up

$1,629,792

Up $115,726 (+7.6%) from 2021

Expenses

Up

$1,624,957

Up $172,614 (+12%) from 2021

Net Income

Down

$4,835

Down $56,888 (-92%) from 2021

Historical Trend

Balance Sheet Trend

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

2022

Assets$1,845,596
Liabilities$765,213
Net Assets$1,080,383

Operations Trend

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

2022

Revenue$1,629,792
Expenses$1,624,957
Net Income$4,835
Jump To
Filing Snapshot
Filing Period
Nov 1, 2021 to Oct 31, 2022
Signed
Aug 25, 2023
Return Version
2021v4.0
Gross Receipts
$1,629,792
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$1,123,878$1,124,200▲ $322
Cash and Non-Interest-Bearing Accounts$770,228$560,808▼ $209,420
Accounts Receivable$44,624$128,177▲ $83,553
Prepaid Expenses and Deferred Charges$12,589$32,411▲ $19,822
Total Assets$1,951,319$1,845,596▼ $105,723
Liabilities
Deferred Revenue$519,855$512,958▼ $6,897
Accounts Payable and Accrued Expenses$145,841$158,662▲ $12,821
Other Liabilities$210,075$93,593▼ $116,482
Total Liabilities$875,771$765,213▼ $110,558
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,075,548$1,080,383▲ $4,835
Total Net Assets Fund Balance$1,075,548$1,080,383▲ $4,835
Total Liabilities and Net Assets / Fund Balance$1,951,319$1,845,596▼ $105,723
Compensation and Service Providers

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Virtual INCManagement Fees401 EDGEWATER PLACE SUIT, Wakefield, MA 01880, Sw$994,357
Wendel StenConsulting-$128,250
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,628,995
Investment Income
$322
Other Revenue
$475
Change in Net Assets
$4,835
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,624,957
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
All Other Expenses---$428,313
Fees for Services Management---$246,000
Conferences and Meetings---$195,085
Advertising---$165,216
Other Expenses---$77,520
Fees for Services Legal---$50,437
Fees for Services Accounting---$2,000
Office Expenses---$1,097
Total Functional Expenses$0$0$0$1,624,957
International Activity

International Summary

Spending
$30,435

International Compliance

Foreign grant records maintained
No
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
EuropeProgram ServicesMember Meetings--$30,435
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Prepaid Memberhsip Dues$89,000
Vat Payable$4,593
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 3

Nfc forum delegated all managment, administrative, membership, events and meeting, financial, and public relations duties to virtual, inc.

Form 990, Page 6, Part VI, Line 6

Nfc forum has six levels of membership: sponsor, principal, associate,implementer, start-up implementer, and nonprofit. All members receive these benefits: access to nfc forum members community website. Access to all published forum specifications at no charge. Attendance at plenary meeting of the forum. Ability to participate in product interoperability testing/plugfest. Ability to participate in the nfc forum certification program. Access to forum research, technical information, and other resources. Opportunities for peer-to-peer collaberation your company name, logo, and press releases displayed on the forum website. Use of the nfc forum logo on your website to indicate membership. Only sponsor members are allowed to elect a representative to the board of directors.

Form 990, Page 6, Part VI, Line 7A

Sponsor members are allowed to elect a reprsentative to the board of directors.

Form 990, Page 6, Part VI, Line 11B

The form 990 is reviewed by the treasurer and presented to the board.

Form 990, Page 6, Part VI, Line 12C

The board of directors requires each director to fill out a form to disclose any possible conflicts at the beginning of their term and the director must update the form on an annual basis.

Form 990, Page 6, Part VI, Line 19

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
7812460500
Address
401 EDGEWATER PLACE SUITE 600, WAKEFIELD, MA 01880

Signing Officer

Name
Yo Tabayashi
Title
Treasurer
Phone
7812460500
Signed
2023-08-25
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Yo Tabayashi
Formed
2004
Legal Domicile
De
Voting Board Members
9
Independent Board Members
9
Employees
0

Preparer

Firm
Ruane & Company Llp
Address
105 CENTRAL STREET SUITE 1200, STONEHAM, MA 02180
Preparer
Thomas M Ruane CPA
Phone
7816430090
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S 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.

Form 990, Part IX, Line 24E

Financial services 77,400 0 0 sig committe support staf 74,784 0 0 board initiatives 62,723 0 0 telephone 49,106 0 0 brand activities 49,095 0 0 software subscriptions 40,774 0 0 forum communications 19,225 0 0 technical committees 16,200 0 0 bad debt expense 10,833 0 0 bank charges 7,501 0 0 discretionary spending 6,135 0 0 misc 5,164 0 0 member newsletter 4,000 0 0 strategic projects 2,623 0 0 d & o insurance 2,525 0 0 supplies 225 0 0 total 428,313 0 0

Raw XML Appendix379 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/OfficeExpensesGrp/TotalAmt01097
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IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherExpensesGrp/Desc0COMPLIANCE RELATED EXPS.
IRS990/OtherExpensesGrp/Desc1PUBLIC RELATIONS
IRS990/OtherExpensesGrp/Desc2WEB SERVICES
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IRS990/OtherExpensesGrp/TotalAmt2102548
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IRS990/OtherRevenueTotalAmt0475
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IRS990/PartialLiquidationInd0false
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt012589
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt032411
IRS990/PrincipalOfficerNm0YO TABAYASHI
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IRS990/ProgramServiceRevenueGrp/Desc1SPECS & COMPLIANCE
IRS990/ProgramServiceRevenueGrp/Desc2MEETING REGISTRATION
IRS990/ProgramServiceRevenueGrp/Desc3MEETING SPONSORSHIPS
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1197855
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt222967
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt32250
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0PREPAID MEMBERHSIP DUES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1VAT PAYABLE
IRS990ScheduleD/TotalLiabilityAmt093593
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IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt0EUROPE
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/SpecificServicesProvidedTxt0MEMBER MEETINGS
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt0PROGRAM SERVICES
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IRS990ScheduleF/ForeignPartnershipInd0false
IRS990ScheduleF/GrantRecordsMaintainedInd0false
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IRS990ScheduleF/SupplementalInformationDetail/ExplanationTxt0EUROPE 30,435 0
IRS990ScheduleF/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE F, PAGE 1, PART I, LINE 3
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE 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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1NFC FORUM DELEGATED ALL MANAGMENT, ADMINISTRATIVE, MEMBERSHIP, EVENTS AND MEETING, FINANCIAL, AND PUBLIC RELATIONS DUTIES TO VIRTUAL, INC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NFC FORUM HAS SIX LEVELS OF MEMBERSHIP: SPONSOR, PRINCIPAL, ASSOCIATE,IMPLEMENTER, START-UP IMPLEMENTER, AND NONPROFIT. ALL MEMBERS RECEIVE THESE BENEFITS: ACCESS TO NFC FORUM MEMBERS COMMUNITY WEBSITE. ACCESS TO ALL PUBLISHED FORUM SPECIFICATIONS AT NO CHARGE. ATTENDANCE AT PLENARY MEETING OF THE FORUM. ABILITY TO PARTICIPATE IN PRODUCT INTEROPERABILITY TESTING/PLUGFEST. ABILITY TO PARTICIPATE IN THE NFC FORUM CERTIFICATION PROGRAM. ACCESS TO FORUM RESEARCH, TECHNICAL INFORMATION, AND OTHER RESOURCES. OPPORTUNITIES FOR PEER-TO-PEER COLLABERATION YOUR COMPANY NAME, LOGO, AND PRESS RELEASES DISPLAYED ON THE FORUM WEBSITE. USE OF THE NFC FORUM LOGO ON YOUR WEBSITE TO INDICATE MEMBERSHIP. ONLY SPONSOR MEMBERS ARE ALLOWED TO ELECT A REPRESENTATIVE TO THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3SPONSOR MEMBERS ARE ALLOWED TO ELECT A REPRSENTATIVE TO THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE FORM 990 IS REVIEWED BY THE TREASURER AND PRESENTED TO THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE BOARD OF DIRECTORS REQUIRES EACH DIRECTOR TO FILL OUT A FORM TO DISCLOSE ANY POSSIBLE CONFLICTS AT THE BEGINNING OF THEIR TERM AND THE DIRECTOR MUST UPDATE THE FORM ON AN ANNUAL BASIS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6NFC FORUM, INC. MAKES THE ORGANIZATION'S BYLAWS AVAILABLE ON THEIR WEBSITE. OTHER GOVERNING DOCUMENTS, POLICIES, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7FINANCIAL SERVICES 77,400 0 0 SIG COMMITTE SUPPORT STAF 74,784 0 0 BOARD INITIATIVES 62,723 0 0 TELEPHONE 49,106 0 0 BRAND ACTIVITIES 49,095 0 0 SOFTWARE SUBSCRIPTIONS 40,774 0 0 FORUM COMMUNICATIONS 19,225 0 0 TECHNICAL COMMITTEES 16,200 0 0 BAD DEBT EXPENSE 10,833 0 0 BANK CHARGES 7,501 0 0 DISCRETIONARY SPENDING 6,135 0 0 MISC 5,164 0 0 MEMBER NEWSLETTER 4,000 0 0 STRATEGIC PROJECTS 2,623 0 0 D & O INSURANCE 2,525 0 0 SUPPLIES 225 0 0 TOTAL 428,313 0 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART IX, LINE 24E
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IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsEOYAmt01845596
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IRS990/TotalFunctionalExpensesGrp/TotalAmt01624957
IRS990/TotalGrossUBIAmt00
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IRS990/TotalLiabilitiesEOYAmt0765213
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IRS990/TotalProgramServiceRevenueAmt01628995
IRS990/TotalRevenueGrp/ExclusionAmt0322
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01629792
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01845596
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IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0NFC-FORUM.ORG
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0YO TABAYASHI
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum07812460500
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-08-25
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0NFC FORUM INC
ReturnHeader/Filer/BusinessNameControlTxt0NFCF
ReturnHeader/Filer/EIN0201752543
ReturnHeader/Filer/PhoneNum07812460500
ReturnHeader/Filer/USAddress/AddressLine1Txt0401 EDGEWATER PLACE SUITE 600
ReturnHeader/Filer/USAddress/CityNm0WAKEFIELD
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MA
ReturnHeader/Filer/USAddress/ZIPCd001880
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0320344584
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0RUANE & COMPANY LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0105 CENTRAL STREET SUITE 1200
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0STONEHAM
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd002180
ReturnHeader/PreparerPersonGrp/PhoneNum07816430090
ReturnHeader/PreparerPersonGrp/PreparationDt02023-09-07
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0THOMAS M RUANE CPA
ReturnHeader/ReturnTs02023-09-13T10:00:15-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0YO
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0TABAYASHI
ReturnHeader/TaxPeriodBeginDt02021-11-01
ReturnHeader/TaxPeriodEndDt02022-10-31
ReturnHeader/TaxYr02021

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