Civic Intelligence

Nfc Forum Inc

990 • Fiscal year 2023 • EIN 20-1752543

Nov 01, 2022 to Oct 31, 2023 • Filed on May 08, 2024

Organization ProfileNFC-FORUM.ORG
401 Edgewater Place Suite 600Wakefield, MA 01880

(781) 246-0050

Siviq Scores

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

Liabilities / Assets

78th percentile

0.39x

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

2023 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

79th percentile

0.48x

Higher debt load relative to revenue than 79% of similar nonprofits.

2023 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2023

Net Margin

50th percentile

4.0%

Higher net margin than 50% of similar nonprofits.

2023 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

27th percentile

$0

Higher top officer pay than 27% of similar nonprofits.

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

2023 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2023

Asset Growth

38th percentile

2.1%

Faster asset growth than 38% of similar nonprofits.

2023 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

19th percentile

-4.9%

Faster revenue growth than 19% of similar nonprofits.

2023 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets78th percentile

Assets

Up

$1,884,917

Up $39,321 (+2.1%) from 2022

Net Assets

Up

$1,142,757

Up $62,374 (+5.8%) from 2022

Liabilities

Down

$742,160

Down $23,053 (-3.0%) from 2022

Revenue And Expenses
Liabilities / Revenue79th percentileNet Margin50th percentile

Revenue

Down

$1,549,542

Down $80,250 (-4.9%) from 2022

Expenses

Down

$1,487,168

Down $137,789 (-8.5%) from 2022

Net Income

Up

$62,374

Up $57,539 (+1190%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth38th 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

2023

Assets$1,884,917
Liabilities$742,160
Net Assets$1,142,757
Open 2023 Filing

Operations Trend

Revenue Growth19th 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

2023

Revenue$1,549,542
Expenses$1,487,168
Net Income$62,374
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Nov 1, 2022 to Oct 31, 2023
Signed
May 8, 2024
Return Version
2022v5.0
Gross Receipts
$1,549,542
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 nfc forum was formed to advance the use of near field communication technology (nfc) 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$1,124,200$1,152,335▲ $28,135
Cash and Non-Interest-Bearing Accounts$560,808$591,743▲ $30,935
Accounts Receivable$128,177$92,504▼ $35,673
Prepaid Expenses and Deferred Charges$32,411$48,335▲ $15,924
Total Assets$1,845,596$1,884,917▲ $39,321
Liabilities
Deferred Revenue$512,958$465,375▼ $47,583
Other Liabilities$93,593$138,603▲ $45,010
Accounts Payable and Accrued Expenses$158,662$138,182▼ $20,480
Total Liabilities$765,213$742,160▼ $23,053
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,080,383$1,142,757▲ $62,374
Total Net Assets Fund Balance$1,080,383$1,142,757▲ $62,374
Total Liabilities and Net Assets / Fund Balance$1,845,596$1,884,917▲ $39,321
Compensation and Service Providers
Top Officer Pay27th percentile

Board Members and Trustees

NameTitle
Preeti Ohri KhemaniChair
Michael StarkVice Chair
Alisher AlikhodjaevDirector
Amir KhoshniyatiDirector
Andrew DavidsonDirector
Dawei ZhangDirector
Jean-remi RuizDirector
Maurizio SkerljDirector
Xiaofeng ZhangDirector
Michael MccamonExecutive Di
Frank DawidowskySecretary
Yo TabayashiTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Virtual INCManagement Fees401 EDGEWATER PLACE SUIT, Wakefield, MA 01880, Sw$989,280
Wendel StenConsulting-$129,556
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,521,407
Investment Income
$28,135
Other Revenue
$0
Change in Net Assets
$62,374
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,487,168
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---$294,000
All Other Expenses---$266,952
Conferences and Meetings---$216,863
Advertising---$156,000
Other Expenses---$72,669
Fees for Services Legal---$42,989
Insurance---$2,525
Fees for Services Accounting---$2,000
Office Expenses---$482
Total Functional Expenses$0$0$0$1,487,168
International Activity

International Summary

Spending
$8,886

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--$8,886
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$131,500
Refunds Payable$4,055
Vat Payable$3,048
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 five classes of membership: sponsor, principal, associate, adopter,and nonprofit. All members receive these benefits: access to nfc forum members website. 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. Listing as member on the forum website. Use of nfc forum logo on website to indicate membership. Access to all published forum specifications at discounted prices depending on the membership class. 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 management company and select officers review teh 990 before it is filed.”

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
7812460050
Address
401 EDGEWATER PLACE SUITE 600, WAKEFIELD, MA 01880

Signing Officer

Name
Yo Tabayashi
Title
Treasurer
Phone
7812460050
Signed
2024-05-08
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

“Nfc forum was formed to advance the use of nfc technology by developing specifications, ensuring interoperability among devices and services, and educating the market about nfc technology. Formed in 2004, the nfc 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 66,000 0 0 telecom/datacom 49,425 0 0 software subscriptions 47,417 0 0 web services 29,583 0 0 forum communications 22,622 0 0 technical committees 19,379 0 0 board initiatives 15,019 0 0 bank charges 5,262 0 0 member newsletters 4,000 0 0 misc 3,712 0 0 exec dir disc spending 3,438 0 0 bad debt expense 875 0 0 supplies 220 0 0 total 266,952 0 0”

Raw XML Appendix376 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/OtherExpensesGrp/Desc2MEMBERSHIP AND ADMIN SVCS
IRS990/OtherExpensesGrp/Desc3SIG COMMITTEE STAFF
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IRS990/ProgramServiceRevenueGrp/Desc2MEETING REGISTRATIONS
IRS990/ProgramServiceRevenueGrp/Desc3MEETING SPONSORSHIPS
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt229599
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0PREPAID MEMBERHSIP DUES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1REFUNDS PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2VAT PAYABLE
IRS990ScheduleD/TotalLiabilityAmt0138603
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IRS990ScheduleF/AccountActivitiesOutsideUSGrp/SpecificServicesProvidedTxt0MEMBER MEETINGS
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IRS990ScheduleF/ForeignPartnershipInd0false
IRS990ScheduleF/GrantRecordsMaintainedInd0false
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IRS990ScheduleF/PassiveForeignInvestmestCoInd0false
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IRS990ScheduleF/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE F, PAGE 1, PART I, LINE 3
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0NFC FORUM WAS FORMED TO ADVANCE THE USE OF NFC TECHNOLOGY BY DEVELOPING SPECIFICATIONS, ENSURING INTEROPERABILITY AMONG DEVICES AND SERVICES, AND EDUCATING THE MARKET ABOUT NFC TECHNOLOGY. FORMED IN 2004, THE NFC 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 FIVE CLASSES OF MEMBERSHIP: SPONSOR, PRINCIPAL, ASSOCIATE, ADOPTER,AND NONPROFIT. ALL MEMBERS RECEIVE THESE BENEFITS: ACCESS TO NFC FORUM MEMBERS WEBSITE. 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. LISTING AS MEMBER ON THE FORUM WEBSITE. USE OF NFC FORUM LOGO ON WEBSITE TO INDICATE MEMBERSHIP. ACCESS TO ALL PUBLISHED FORUM SPECIFICATIONS AT DISCOUNTED PRICES DEPENDING ON THE MEMBERSHIP CLASS. 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 MANAGEMENT COMPANY AND SELECT OFFICERS REVIEW TEH 990 BEFORE IT IS FILED.
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 66,000 0 0 TELECOM/DATACOM 49,425 0 0 SOFTWARE SUBSCRIPTIONS 47,417 0 0 WEB SERVICES 29,583 0 0 FORUM COMMUNICATIONS 22,622 0 0 TECHNICAL COMMITTEES 19,379 0 0 BOARD INITIATIVES 15,019 0 0 BANK CHARGES 5,262 0 0 MEMBER NEWSLETTERS 4,000 0 0 MISC 3,712 0 0 EXEC DIR DISC SPENDING 3,438 0 0 BAD DEBT EXPENSE 875 0 0 SUPPLIES 220 0 0 TOTAL 266,952 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/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsEOYAmt01884917
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IRS990/TotalAssetsGrp/EOYAmt01884917
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
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IRS990/TotalGrossUBIAmt00
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01549542
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IRS990/VotingMembersIndependentCnt09
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ReturnHeader/PreparerPersonGrp/PreparerPersonNm0THOMAS M RUANE CPA
ReturnHeader/ReturnTs02024-05-28T11:09:11-04:00
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ReturnHeader/TaxPeriodBeginDt02022-11-01
ReturnHeader/TaxPeriodEndDt02023-10-31
ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,884,917
Liabilities
$742,160
Net assets
$1,142,757
Revenue
$1,549,542
Expenses
$1,487,168
Net income
$62,374
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