Civic Intelligence

MID-West Fastener Association

990 • Fiscal year 2020 • EIN 36-3035148

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 01, 2021

Organization ProfileWWW.MWFA.NET
PO Box 5Lake Zurich, IL 60047

(847) 438-8338

Siviq Scores

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

Liabilities / Assets

69th percentile

0.07x

Higher debt load relative to assets than 69% of similar nonprofits.

2020 filings • 501(c)6 • <$500k nonprofits • Source year 2020

Liabilities / Revenue

84th percentile

0.29x

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

2020 filings • 501(c)6 • <$500k nonprofits • Source year 2020

Net Margin

11th percentile

-49%

Higher net margin than 11% of similar nonprofits.

2020 filings • 501(c)6 • <$500k nonprofits • Source year 2020

Top Officer Pay

93rd percentile

$81,498

Higher top officer pay than 93% of similar nonprofits.

Top officer pay equals 71.8% of source-year revenue.

2020 filings • 501(c)6 • <$500k nonprofits • Source year 2020

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2020

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2020

Balance Sheet
Liabilities / Assets69th percentile

Assets

$435,602

No earlier filing loaded for comparison.

Net Assets

$403,040

No earlier filing loaded for comparison.

Liabilities

$32,562

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue84th percentileNet Margin11th percentile

Revenue

$113,516

No earlier filing loaded for comparison.

Expenses

$169,165

No earlier filing loaded for comparison.

Net Income

-$55,649

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$600K$400K$200K$0Assets 2020: $435,602Liabilities 2020: $32,562Net Assets 2020: $403,0402020Assets 2021: $455,114Liabilities 2021: $17,429Net Assets 2021: $437,6852021Assets 2022: $516,879Liabilities 2022: $0Net Assets 2022: $516,8792022Assets 2023: $495,868Liabilities 2023: $0Net Assets 2023: $495,8682023Assets 2024: $472,825Liabilities 2024: $2,707Net Assets 2024: $470,1182024

Highlighted filing

2020

Assets$435,602
Liabilities$32,562
Net Assets$403,040
Open 2020 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$400K$200K$0-$200KRevenue 2020: $113,516Expenses 2020: $169,165Net Income 2020: -$55,6492020Revenue 2021: $275,349Expenses 2021: $240,704Net Income 2021: $34,6452021Revenue 2022: $325,385Expenses 2022: $246,191Net Income 2022: $79,1942022Revenue 2023: $361,273Expenses 2023: $393,748Net Income 2023: -$32,4752023Revenue 2024: $349,294Expenses 2024: $355,843Net Income 2024: -$6,5492024

Highlighted filing

2020

Revenue$113,516
Expenses$169,165
Net Income-$55,649
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 1, 2021
Return Version
2020v4.1
Gross Receipts
$117,004
Mission and Program Overview

Mission

The mid-west fastener association's (mwfa) purpose is to serve and promote the fastener industry and the ever changing needs of its membership. Specifically, the mwfa is dedicated to representing all segments of the industry; manufacturers, distributors, importers and suppliers to the industry.

Trade service organization for fastener industry in the midwest area

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$458,689$403,040▼ $55,649
Investments in Publicly Traded Securities$373,879$377,015▲ $3,136
Cash and Non-Interest-Bearing Accounts$90,374$49,241▼ $41,133
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$476,339$435,602▼ $40,737
Other Assets Total$12,086$9,346▼ $2,740
Liabilities
Other Liabilities$17,650$16,650▼ $1,000
Deferred Revenue-$15,912-
Total Liabilities$17,650$32,562▲ $14,912
Net Assets / Fund Balance
Total Net Assets Fund Balance$458,689$403,040▼ $55,649
Total Liabilities and Net Assets / Fund Balance$476,339$435,602▼ $40,737
Compensation and Service Providers
Top Officer Pay93rd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Nancy RichExecutive DirectorPT$81,498$81,498

Board Members and Trustees

NameTitle
Paula EvittsPresident
George HuntVice President
Pam CiceroSecretary
Bob BaerTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$98,004
Investment Income
$0
Other Revenue
$15,512
Change in Net Assets
$-55,649
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$87,902
Other Expenses$81,263
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$81,499
All Other Expenses---$15,519
Other Expenses---$6,998
Payroll Taxes---$6,403
Fees for Services Accounting---$1,743
Office Expenses---$1,323
Total Functional Expenses$0$0$0$169,165
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$4,500
Fundraising Direct Expenses$3,488
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
In-house lobbying only
Yes
Subject to proxy tax
Yes
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Fasterner Tech$16,650
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
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

“The organization does have members”

Form 990, Part VI, Section A, Line 7A

“The members do elect fellow members to represent them on the board”

Form 990, Part VI, Section A, Line 7B

“Changes to the bylaws require approval by two thirds of the members present at the meeting.”

Form 990, Part VI, Section B, Line 11B

“Form 990 is prepared by an outside cpa, reviewed by the executive director, then given to a board member for further review.”

Form 990, Part VI, Section B, Line 12C

“On an annual basis, conlict of interest policy statements are signed by officers and directors which are then periodically reviewed by the board.”

Form 990, Part VI, Section B, Line 15A

“The executive committee of the board of directors reviews comparability data in determining the executive directors annual salary.”

Form 990, Part VI, Section C, Line 19

“The organization makes its governing documents, conflict of interest policy and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Mid-west Fastener Association
EIN
36-3035148
Phone
8474388338
Address
PO BOX 5, LAKE ZURICH, IL 60047

Signing Officer

Name
Nancy Rich
Title
Executive Director
Phone
8474388338
Signed
2021-11-01
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Nancy Rich
Formed
1946
Legal Domicile
Il
Voting Board Members
9
Independent Board Members
9
Employees
1
Volunteers
0

Preparer

Firm
Dennis Saviano CPA Pc
Address
787 NORTH INDUSTRIAL DRIVE, ELMHURST, IL 60126-1130
Preparer
Dennis Saviano
Phone
8478701040
Raw XML Appendix316 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/MissionDesc0THE MID-WEST FASTENER ASSOCIATION'S (MWFA) PURPOSE IS TO SERVE AND PROMOTE THE FASTENER INDUSTRY AND THE EVER CHANGING NEEDS OF ITS MEMBERSHIP. SPECIFICALLY, THE MWFA IS DEDICATED TO REPRESENTING ALL SEGMENTS OF THE INDUSTRY; MANUFACTURERS, DISTRIBUTORS, IMPORTERS AND SUPPLIERS TO THE INDUSTRY.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION DOES HAVE MEMBERS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE MEMBERS DO ELECT FELLOW MEMBERS TO REPRESENT THEM ON THE BOARD
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2CHANGES TO THE BYLAWS REQUIRE APPROVAL BY TWO THIRDS OF THE MEMBERS PRESENT AT THE MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3FORM 990 IS PREPARED BY AN OUTSIDE CPA, REVIEWED BY THE EXECUTIVE DIRECTOR, THEN GIVEN TO A BOARD MEMBER FOR FURTHER REVIEW.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ON AN ANNUAL BASIS, CONLICT OF INTEREST POLICY STATEMENTS ARE SIGNED BY OFFICERS AND DIRECTORS WHICH ARE THEN PERIODICALLY REVIEWED BY THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS REVIEWS COMPARABILITY DATA IN DETERMINING THE EXECUTIVE DIRECTORS ANNUAL SALARY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION B, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART VI, SECTION C, LINE 19
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ReturnHeader/Filer/EIN0363035148
ReturnHeader/Filer/PhoneNum08474388338
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 5
ReturnHeader/Filer/USAddress/CityNm0LAKE ZURICH
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IL
ReturnHeader/Filer/USAddress/ZIPCd060047
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0363770541
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0DENNIS SAVIANO CPA PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0787 NORTH INDUSTRIAL DRIVE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0ELMHURST
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0601261130
ReturnHeader/PreparerPersonGrp/PhoneNum08478701040
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DENNIS SAVIANO
ReturnHeader/ReturnTs02021-11-01T10:50:37-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0NANCY
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0RICH
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

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Filings

Displayed year

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

Open filing
Assets
$435,602
Liabilities
$32,562
Net assets
$403,040
Revenue
$113,516
Expenses
$169,165
Net income
-$55,649
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$4.73$0.03$4.70$3.49$3.56$0.07
2023Detailed filing. Detailed filing data is available for this year.$4.96$0.00$4.96$3.61$3.94$0.32
2022Detailed filing. Detailed filing data is available for this year.$5.17$0.00$5.17$3.25$2.46$0.79
2021Detailed filing. Detailed filing data is available for this year.$4.55$0.17$4.38$2.75$2.41$0.35
2020Detailed filing. Detailed filing data is available for this year.$4.36$0.33$4.03$1.14$1.69$0.56