Civic Intelligence

Nacs Foundation

990 • Fiscal year 2015 • EIN 52-1270412

Apr 01, 2014 to Mar 31, 2015 • Filed on Feb 12, 2016

500 East Lorain StreetOberlin, OH 44074

(440) 775-7777

Siviq Scores

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

Liabilities / Assets

28th percentile

0.04x

Higher debt load relative to assets than 28% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Liabilities / Revenue

62nd percentile

0.32x

Higher debt load relative to revenue than 62% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Net Margin

19th percentile

-8.0%

Higher net margin than 19% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Top Officer Pay

95th percentile

$536,530

Higher top officer pay than 95% of similar nonprofits.

Top officer pay equals 75.3% of source-year revenue.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Asset Growth

39th percentile

-1.4%

Faster asset growth than 39% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2014 to 2015

Revenue Growth

26th percentile

-5.8%

Faster revenue growth than 26% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2014 to 2015

Assets

Down

$5,218,683

Down $71,809 (-1.4%) from 2014

Net Assets

Down

$4,989,824

Down $109,740 (-2.2%) from 2014

Liabilities

Up

$228,859

Up $37,931 (+20%) from 2014

Revenue

Down

$712,686

Down $43,724 (-5.8%) from 2014

Expenses

Up

$769,756

Up $10,368 (+1.4%) from 2014

Net Income

Down

-$57,070

Down $54,092 (-1816%) from 2014

Historical Trend

Balance Sheet Trend

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

$6.0M$4.0M$2.0M$0Assets 2010: $4,253,987Liabilities 2010: $534,073Net Assets 2010: $3,719,9142010Assets 2011: $4,455,896Liabilities 2011: $497,688Net Assets 2011: $3,958,2082011Assets 2012: $4,706,985Liabilities 2012: $491,638Net Assets 2012: $4,215,3472012Assets 2013: $5,378,672Liabilities 2013: $375,322Net Assets 2013: $5,003,3502013Assets 2014: $5,290,492Liabilities 2014: $190,928Net Assets 2014: $5,099,5642014Assets 2015: $5,218,683Liabilities 2015: $228,859Net Assets 2015: $4,989,8242015Assets 2016: $5,027,834Liabilities 2016: $260,914Net Assets 2016: $4,766,9202016Assets 2017: $5,236,264Liabilities 2017: $181,544Net Assets 2017: $5,054,7202017Assets 2018: $4,827,924Liabilities 2018: $116,733Net Assets 2018: $4,711,1912018Assets 2019: $4,413,580Liabilities 2019: $384Net Assets 2019: $4,413,1962019Assets 2020: $3,568,107Liabilities 2020: $0Net Assets 2020: $3,568,1072020Assets 2021: $3,856,466Liabilities 2021: $251,673Net Assets 2021: $3,604,7932021Assets 2022: $3,635,153Liabilities 2022: $459,438Net Assets 2022: $3,175,7152022Assets 2023: $3,090,056Liabilities 2023: $502,163Net Assets 2023: $2,587,8932023Assets 2024: $2,481,994Liabilities 2024: $338,367Net Assets 2024: $2,143,6272024Assets 2025: $2,140,234Liabilities 2025: $528,324Net Assets 2025: $1,611,9102025

Highlighted filing

2015

Assets$5,218,683
Liabilities$228,859
Net Assets$4,989,824

Operations Trend

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

$2.0M$1.0M$0-$1.0MExpenses 2010: $707,7632010Revenue 2011: $691,246Expenses 2011: $672,652Net Income 2011: $18,5942011Expenses 2012: $681,0212012Revenue 2013: $1,400,645Expenses 2013: $700,895Net Income 2013: $699,7502013Revenue 2014: $756,410Expenses 2014: $759,388Net Income 2014: -$2,9782014Revenue 2015: $712,686Expenses 2015: $769,756Net Income 2015: -$57,0702015Revenue 2016: $742,096Expenses 2016: $702,252Net Income 2016: $39,8442016Revenue 2017: $625,364Expenses 2017: $596,045Net Income 2017: $29,3192017Revenue 2018: $333,081Expenses 2018: $546,919Net Income 2018: -$213,8382018Revenue 2019: $245,776Expenses 2019: $369,560Net Income 2019: -$123,7842019Revenue 2020: $51,124Expenses 2020: $606,668Net Income 2020: -$555,5442020Revenue 2021: $394,594Expenses 2021: $758,598Net Income 2021: -$364,0042021Revenue 2022: $342,683Expenses 2022: $773,615Net Income 2022: -$430,9322022Revenue 2023: $431,210Expenses 2023: $773,103Net Income 2023: -$341,8932023Revenue 2024: $159,133Expenses 2024: $740,667Net Income 2024: -$581,5342024Revenue 2025: $120,421Expenses 2025: $787,125Net Income 2025: -$666,7042025

Highlighted filing

2015

Revenue$712,686
Expenses$769,756
Net Income-$57,070
Jump To
Filing Snapshot
Filing Period
Apr 1, 2014 to Mar 31, 2015
Signed
Feb 12, 2016
Return Version
2014v6.0
Gross Receipts
$784,717
Mission and Program Overview

Mission

The nacs foundation supports initiatives that make the national association of college stores' (nacs) educational programs accessible to a wider range of professionals, enables research that addresses issues of fundamental importance to the college store industry and builds strategic partnerships in support of nacs.

To support initiatives and educational programs of the natl.assoc.of college stores and provide research that addresses issues of importance to the college store industry.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$4,596,522$4,700,832▲ $104,310
Pledges and Grants Receivable$445,951$275,407▼ $170,544
Land, Buildings, and Equipment, Net$208,235$198,923▼ $9,312
Cash and Non-Interest-Bearing Accounts$7,259$22,848▲ $15,589
Accounts Receivable$32,525$20,673▼ $11,852
Savings and Temporary Cash Investments$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$5,290,492$5,218,683▼ $71,809
Other Assets Total$0$0→ $0
Liabilities
Accounts Payable and Accrued Expenses$190,928$228,859▲ $37,931
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$190,928$228,859▲ $37,931
Net Assets / Fund Balance
Unrestricted Net Assets$4,360,112$4,422,598▲ $62,486
Temporarily Rstr Net Assets$649,713$477,487▼ $172,226
Permanently Rstr Net Assets$89,739$89,739→ $0
Total Net Assets Fund Balance$5,099,564$4,989,824▼ $109,740
Total Liabilities and Net Assets / Fund Balance$5,290,492$5,218,683▼ $71,809

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$198,923$83,717$282,640

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2014$102,088-▲ $5,134-$107,222
2013$95,348-▲ $6,740-$102,088
2012$235,376$0▲ $6,371$146,399$95,348
2011$239,167$0▲ $5,718$9,509$235,376
2010$217,737$0▲ $21,430$0$239,167
Compensation and Service Providers

Board Members and Trustees

NameTitle
Jackie MiddletonPast President & Director
Lisa Gallivan-reedPresident & Director
Melanie SparksPresident-elect & Director
Carol Miller SchaeferDirector
Chad SchreierDirector
Deanna CastertonDirector
James Mccollough IiDirector
Sondra Ropp ReinartzDirector
Steve ArnoldDirector
Steve BartekDirector
Brian CartierChief Executive Officer
Frank SulenChief Financial Officer
Revenue and Support

Revenue Composition

Contributions and Grants
$571,450
Program Service Revenue
$6,353
Investment Income
$206,914
Other Revenue
$-72,031
All Other Contributions
$5,906
Change in Net Assets
$-57,070

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
Yes

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table96$51,944Auction Bid Price
Total Noncash Contributions96$51,944-

Audited Revenue Reconciliation

Revenue per Audited Statements
$712,686
Revenue Not Reported on Form 990
$-52,670
Total Revenue per Audited Statements
$660,016
Total Revenue per Form 990
$712,686
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$487,287
Grants and Similar Amounts Paid$282,469
Total Fundraising Expense$84,726
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management$136,866$54,648$54,647$246,161
Grants to Domestic Orgs$181,000--$181,000
Grants to Domestic Individuals$101,469--$101,469
Travel$19,733$16,060$2,908$38,701
Other Expenses$6,849$1,172$2,212$10,233
Depreciation Depletion-$9,313-$9,313
Advertising--$9,118$9,118
Fees for Services Accounting-$6,200-$6,200
Office Expenses-$1,830-$1,830
Total Functional Expenses$594,798$90,232$84,726$769,756

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$769,756
Total Expenses per Audited Statements$769,756
Total Expenses per Form 990$769,756
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
National Association of College StoresOberlin, OH501(c)(6)General$181,000
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$72,031
Fundraising Gross Income$0
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Camex Events$115,544-$72,031-
Total Events$115,544-$72,031$-72,031
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
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
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

APRROVAL OF DECISIONS - FORM 990, PART VI, LINE 7B:

All changes to the organization's bylaws require approval from the nacs board of trustees. The nacs board of trustees must also ratify all nacs foundation board members.

REVIEW OF FORM 990 - FORM 990, PART VI, LINE 11B:

Form 990 is reviewed by the foundation's audit committee with the assistance of the outside public accounting firm.

MONITORING AND ENFORCEMENT OF CONFLICT POLICY - FORM 990,PART VI,LINE 12C:

The foundation has procedures in place to monitor and enforce the conflict of interest policy. If a conflict should arise, the affected persons are not permitted to vote on the matter or participate in the discussions. The decision is made by persons who are independent of the individual(s) with the conflict.

COMPENSATION REVIEW AND APPROVAL - FORM 990, PART VI, LINE 15:

All employees, including officers and key employees, are subject to a wage and salary administration program conducted by nacs, a related organization. This program includes the use of an outside compensation consultant and comparability data. The chief executive officer's compensation was set by the nacs board of trustees, who are independent of the executive. The chief executive officer set the compensation of the chief financial officer. The ceo is independent of the person for whom he made compensation decisions.

AVAILABILITY OF DOCUMENTS - FORM 990, PART VI, LINE 19:

The foundation's financial statements, conflict of interest policy, and governing documents are available upon request.

Filing and Contact Details

Filer

Filer Name
Nacs Foundation
EIN
52-1270412
In Care Of
% FRANK J SULEN
Phone
4407757777
Address
500 EAST LORAIN STREET, OBERLIN, OH 44074

Signing Officer

Name
Frank Sulen
Title
CFO
Phone
4407757777
Signed
2016-02-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Frank J Sulen
Formed
1982
Legal Domicile
Dc
Voting Board Members
11
Independent Board Members
10
Employees
0
Volunteers
35

Preparer

Firm
Maloney Novotny LLC
Address
1111 SUPERIOR AVENUE SUITE 700, CLEVELAND, OH 44114
Preparer
Christopher B Anderson
Phone
2163630100
Supplemental Narrative

Financial Statement Notes

INTENDED USE OF ENDOWMENT FUNDS - PART V, LINE 4:

The foundation's endowments provide funding for recognition for innovation in the industry, education for general book selling, and recognition of excellence in collegiate retailing.

FIN 48 (ASC 740) FOOTNOTE - PART X, LINE 2:

INCOME TAXES - THE FOUNDATION IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(c)(3) OF THE INTERNAL REVENUE CODE. THE FOUNDATION BELIEVES IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN AND, AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT WOULD BE MATERIAL TO THE FINANCIAL STATEMENTS. THE FOUNDATION'S FEDERAL TAX RETURNS ARE SUBJECT TO EXAMINATION BY THE IRS, GENERALLY FOR THREE YEARS AFTER THEY WERE FILED.

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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt80
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt11290699
IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT & DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt1PRESIDENT-ELECT & DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt2PAST PRESIDENT & DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10CHIEF EXECUTIVE OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt11CHIEF FINANCIAL OFFICER
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IRS990/InvestmentsPubTradedSecGrp/EOYAmt04700832
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IRS990/MissionDesc0THE NACS FOUNDATION SUPPORTS INITIATIVES THAT MAKE THE NATIONAL ASSOCIATION OF COLLEGE STORES' (NACS) EDUCATIONAL PROGRAMS ACCESSIBLE TO A WIDER RANGE OF PROFESSIONALS, ENABLES RESEARCH THAT ADDRESSES ISSUES OF FUNDAMENTAL IMPORTANCE TO THE COLLEGE STORE INDUSTRY AND BUILDS STRATEGIC PARTNERSHIPS IN SUPPORT OF NACS.
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IRS990/OtherExpensesGrp/Desc0RESEARCH
IRS990/OtherExpensesGrp/Desc1PRINTING
IRS990/OtherExpensesGrp/Desc2POSTAGE
IRS990/OtherExpensesGrp/Desc3MISCELLANEOUS
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IRS990/OtherExpensesGrp/FundraisingAmt147
IRS990/OtherExpensesGrp/FundraisingAmt22212
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt01009
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt11172
IRS990/OtherExpensesGrp/ProgramServicesAmt0148881
IRS990/OtherExpensesGrp/ProgramServicesAmt16849
IRS990/OtherExpensesGrp/TotalAmt0148881
IRS990/OtherExpensesGrp/TotalAmt115794
IRS990/OtherExpensesGrp/TotalAmt21056
IRS990/OtherExpensesGrp/TotalAmt310233
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IRS990/PrincipalOfficerNm0FRANK J SULEN
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IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/Desc0SURVEYS, RESEARCH & OTHER REVENUE
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt06353
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt06353
IRS990/ProgSrvcAccomActy2Grp/Desc0CONDUCTING AND DISSEMINATING RESEARCH TO THE COLLEGE STORE INDUSTRY SUCH AS THE VALUE OF A TEXTBOOK, BUYING HABITS OF STUDENTS, AND A SALARY AND BENEFITS SURVEY.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0148881
IRS990/ProgSrvcAccomActy2Grp/GrantAmt00
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt06353
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IRS990/PYContributionsGrantsAmt0706646
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IRS990/PYGrantsAndSimilarPaidAmt0217000
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IRS990/PYOtherRevenueAmt0-82933
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IRS990/RcvblFromDisqualifiedPrsnGrp/BOYAmt00
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IRS990/ReceivablesFromOfficersEtcGrp/BOYAmt00
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IRS990/ReconcilationRevenueExpnssAmt0-57070
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0true
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RelatedOrganizationsAmt0450000
IRS990/RentalIncomeOrLossGrp/PersonalAmt00
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IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
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IRS990ScheduleA/Form990SchASupportingOrgGrp/SuprtExclusivelySec170c2BInd0true
IRS990ScheduleA/Form990SchASupportingOrgGrp/SuprtOrgNoIRSDeterminationInd0true
IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/OperateBenefitNonSuprtOrgInd0false
IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/PowerAppointMajorityDirTrstInd0true
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0NACS FOUNDATION SUPPORTS NATIONAL ASSOCIATION OF COLLEGE STORES ("NACS"),
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt1NACS HAS A DETERMINATION LETTER FROM THE INTERNAL REVENUE SERVICE THAT IT
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt2BECAUSE OF THE CLOSE RELATIONSHIP BETWEEN NACS AND NACS FOUNDATION,
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0STATUS UNDER SEC. 509(a)(1) OR 509(a)(2) - PART IV, LINE 2:
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc1QUALIFICATION UNDER SEC.501(c)(6)&509(a)(2) - PART IV, LINE 3B:
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc2SUPPORT USED FOR SEC.170(c)(2)(B) PURPOSES - PART IV, LINE 3C:
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IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0NATIONAL ASSOC OF COLLEGE STORES
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IRS990ScheduleA/SupportingOrgType1Ind0X
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$2.14$0.53$1.61$0.12$0.79$0.67
2024Detailed filing. Detailed filing data is available for this year.$2.48$0.34$2.14$0.16$0.74$0.58
2023Detailed filing. Detailed filing data is available for this year.$3.09$0.50$2.59$0.43$0.77$0.34
2022Detailed filing. Detailed filing data is available for this year.$3.64$0.46$3.18$0.34$0.77$0.43
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.86$0.25$3.60$0.39$0.76$0.36
2020Detailed filing. Detailed filing data is available for this year.$3.57$0.00$3.57$0.05$0.61$0.56
2019Detailed filing. Detailed filing data is available for this year.$4.41$0.00$4.41$0.25$0.37$0.12
2018Detailed filing. Detailed filing data is available for this year.$4.83$0.12$4.71$0.33$0.55$0.21
2017Detailed filing. Detailed filing data is available for this year.$5.24$0.18$5.05$0.63$0.60$0.03
2016Detailed filing. Detailed filing data is available for this year.$5.03$0.26$4.77$0.74$0.70$0.04
2015Detailed filing. Detailed filing data is available for this year.$5.22$0.23$4.99$0.71$0.77$0.06
2014Detailed filing. Detailed filing data is available for this year.$5.29$0.19$5.10$0.76$0.76$0.00
2013Summary only. Only limited summary data is available for this year.$5.38$0.38$5.00$1.40$0.70$0.70
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.71$0.49$4.22$0.68
2011Summary only. Only limited summary data is available for this year.$4.46$0.50$3.96$0.69$0.67$0.02
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.25$0.53$3.72$0.71