Civic Intelligence

National Reverse Mortgage Lenders

EIN 52-2062500 • 501(c)6 • Washington, DC

Profile

To educate consumers about the pros and cons of reverse mortgages, to train lenders to be sensitive to clients' needs, to enforce our code of conduct and best practices, and to promote reverse mortgages in the news media.

1400 16th Street NW 420Washington, DC 20036-2244

www.reversemortgage.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

67th percentile

0.27x

Higher debt load relative to assets than 67% of similar nonprofits.

501(c)6 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

47th percentile

0.15x

Higher debt load relative to revenue than 47% of similar nonprofits.

501(c)6 • $1M-$5M nonprofits • Source year 2024

Net Margin

5th percentile

-26%

Higher net margin than 5% of similar nonprofits.

501(c)6 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

42nd percentile

$0

Higher top officer pay than 42% of similar nonprofits.

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

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

Asset Growth

3rd percentile

-40%

Faster asset growth than 3% of similar nonprofits.

501(c)6 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

11th percentile

-12%

Faster revenue growth than 11% of similar nonprofits.

501(c)6 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Assets

Down

$864,346

Down $565,630 (-40%) from 2023

Liabilities

Down

$233,684

Down $147,461 (-39%) from 2023

Net Assets

Down

$630,662

Down $418,169 (-40%) from 2023

Revenue

Down

$1,585,645

Down $206,820 (-12%) from 2023

Expenses

Down

$2,003,814

Down $87,538 (-4.2%) from 2023

Net Income

Down

-$418,169

Down $119,282 (-40%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$3.0M$2.0M$1.0M$0Assets 2010: $1,442,793Liabilities 2010: $324,233Net Assets 2010: $1,118,5602010Assets 2011: $949,443Liabilities 2011: $314,513Net Assets 2011: $634,9302011Assets 2012: $595,307Liabilities 2012: $380,808Net Assets 2012: $214,4992012Assets 2013: $1,663,380Liabilities 2013: $601,906Net Assets 2013: $1,061,4742013Assets 2014: $1,332,160Liabilities 2014: $504,353Net Assets 2014: $827,8072014Assets 2015: $1,771,307Liabilities 2015: $559,762Net Assets 2015: $1,211,5452015Assets 2016: $1,905,892Liabilities 2016: $570,440Net Assets 2016: $1,335,4522016Assets 2017: $2,011,011Liabilities 2017: $505,338Net Assets 2017: $1,505,6732017Assets 2018: $1,855,438Liabilities 2018: $443,881Net Assets 2018: $1,411,5572018Assets 2019: $1,304,703Liabilities 2019: $243,617Net Assets 2019: $1,061,0862019Assets 2020: $1,204,843Liabilities 2020: $455,074Net Assets 2020: $749,7692020Assets 2021: $1,432,158Liabilities 2021: $509,291Net Assets 2021: $922,8672021Assets 2022: $1,805,107Liabilities 2022: $457,389Net Assets 2022: $1,347,7182022Assets 2023: $1,429,976Liabilities 2023: $381,145Net Assets 2023: $1,048,8312023Assets 2024: $864,346Liabilities 2024: $233,684Net Assets 2024: $630,6622024

Highlighted filing

2024

Assets$864,346
Liabilities$233,684
Net Assets$630,662

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$4.0M$2.0M$0-$2.0MExpenses 2010: $2,769,4172010Expenses 2011: $2,483,9312011Expenses 2012: $2,502,0312012Revenue 2013: $3,313,472Expenses 2013: $2,466,499Net Income 2013: $846,9732013Revenue 2014: $3,581,538Expenses 2014: $3,815,205Net Income 2014: -$233,6672014Revenue 2015: $3,074,342Expenses 2015: $2,690,604Net Income 2015: $383,7382015Revenue 2016: $2,844,720Expenses 2016: $2,720,822Net Income 2016: $123,8982016Revenue 2017: $3,058,037Expenses 2017: $2,887,806Net Income 2017: $170,2312017Revenue 2018: $2,787,247Expenses 2018: $2,881,363Net Income 2018: -$94,1162018Revenue 2019: $2,078,115Expenses 2019: $2,428,588Net Income 2019: -$350,4732019Revenue 2020: $1,622,121Expenses 2020: $1,933,438Net Income 2020: -$311,3172020Revenue 2021: $2,141,039Expenses 2021: $1,967,941Net Income 2021: $173,0982021Revenue 2022: $2,975,782Expenses 2022: $2,550,931Net Income 2022: $424,8512022Revenue 2023: $1,792,465Expenses 2023: $2,091,352Net Income 2023: -$298,8872023Revenue 2024: $1,585,645Expenses 2024: $2,003,814Net Income 2024: -$418,1692024

Highlighted filing

2024

Revenue$1,585,645
Expenses$2,003,814
Net Income-$418,169

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.86$0.23$0.63$1.59$2.00$0.42
2023Summary only. Only limited summary data is available for this year.$1.43$0.38$1.05$1.79$2.09$0.30
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.81$0.46$1.35$2.98$2.55$0.42
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.43$0.51$0.92$2.14$1.97$0.17
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.20$0.46$0.75$1.62$1.93$0.31
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.30$0.24$1.06$2.08$2.43$0.35
2018Summary only. Only limited summary data is available for this year.$1.86$0.44$1.41$2.79$2.88$0.09
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.01$0.51$1.51$3.06$2.89$0.17
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.91$0.57$1.34$2.84$2.72$0.12
2015Detailed filing. Detailed filing data is available for this year.$1.77$0.56$1.21$3.07$2.69$0.38
2014Detailed filing. Detailed filing data is available for this year.$1.33$0.50$0.83$3.58$3.82$0.23
2013Detailed filing. Detailed filing data is available for this year.$1.66$0.60$1.06$3.31$2.47$0.85
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.60$0.38$0.21$2.50
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.95$0.31$0.63$2.48
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.44$0.32$1.12$2.77
Latest Detailed Filing

The latest 2024 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2022 below.

Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 13, 2023
Return Version
2022v5.0
Gross Receipts
$2,975,782
Mission and Program Overview

Mission

To educate consumers about the pros and cons of reverse mortgages, to train lenders to be sensitive to clients' needs, to enforce our code of conduct and best practices, and to promote reverse mortgages in the news media.

Promote awareness & use of reverse mortgages

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$1,036,754$1,461,987▲ $425,233
Accounts Receivable$330,199$290,022▼ $40,177
Prepaid Expenses and Deferred Charges$51,647$40,082▼ $11,565
Total Assets$1,432,158$1,805,107▲ $372,949
Other Assets Total$13,558$13,016▼ $542
Liabilities
Deferred Revenue$501,621$434,767▼ $66,854
Accounts Payable and Accrued Expenses$7,670$22,622▲ $14,952
Total Liabilities$509,291$457,389▼ $51,902
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$922,867$1,347,718▲ $424,851
Total Net Assets Fund Balance$922,867$1,347,718▲ $424,851
Total Liabilities and Net Assets / Fund Balance$1,432,158$1,805,107▲ $372,949
Compensation and Service Providers

Board Members and Trustees

NameTitle
Michael KentCo-chairperson
Scott NormanCo-chairperson
Jim CoryVice Chair
Robert SivoriVice Chair
Alexander PistoneDirector
Christopher MayerDirector
Deborah WinslowDirector
Elly JohnsonDirector
George DowneyDirector
Harlan AccolaDirector
Jay JonesDirector
Joe LangnerDirector
Joseph DemarkeyDirector
Jules VogelDirector
Kari Van KleefDirector
Kevin GherardiDirector
Kristen SieffertDirector
Laura CullenDirector
Rick LieberDirector
Rob AwaltDirector
Ryan LaroseDirector
Scott HarmesDirector
Terry ConnealyDirector
Timothy IsgroDirector
Peter H BellCEO
Leslie FlynneSecretary
Michael MccullyTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Dworbell INCManagement Services1400 16TH STREET NW SUITE 420, Washington, DC 20036$1,025,000
Weiner Brodsky KiderLegal1300 19TH STREET NW 5TH FLOOR, Washington, DC 20036$300,000
Revenue and Support

Revenue Composition

Contributions and Grants
$2,046,444
Program Service Revenue
$924,182
Investment Income
$5,156
Other Revenue
$0
Change in Net Assets
$424,851

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,975,782
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$2,975,782
Total Revenue per Form 990
$2,975,782
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,550,931
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-$1,025,000-$1,025,000
Conferences and Meetings$338,478$4,686-$343,164
Fees for Services Other$246,539$27,221-$273,760
Fees for Services Legal-$210,000-$210,000
Office Expenses$150,670$33,623-$184,293
Occupancy-$102,058-$102,058
Other Expenses$48,100$28,704-$28,704
Fees for Services Accounting-$25,750-$25,750
Travel$17,764$2,521-$20,285
Information Technology$8,394--$8,394
Insurance-$4,297-$4,297
Depreciation Depletion-$1,781-$1,781
Advertising$225--$225
Total Functional Expenses$810,170$1,740,761$0$2,550,931

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,550,931
Total Expenses per Audited Statements$2,550,931
Total Expenses per Form 990$2,550,931
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
In-house lobbying only
No
Subject to proxy tax
Yes

Reported Spending and Taxes

Line ItemAmount
Current Year Nondeductible Lobbying and Political Cost$58,500
Total Nondeductible Lobbying and Political Cost$-109,409
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-DWORBELL, INC. IS OWNED 100% BY PETER BELL, CEO OF NRMLANrmla Contracts With Dworbell, Inc. for Management Services.No$1,025,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
Yes
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, Section A, Line 3

Nrmla receives management services from dworbell, inc.

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

Form 990 is reviewed by the chief financial officer.

Form 990, Part VI, Section C, Line 19

Available for public inspection upon request.

Filing and Contact Details

Filer

Filer Name
National Reverse Mortgage Lenders
EIN
52-2062500
Phone
2029391760
Address
1400 16TH STREET NW 420, WASHINGTON, DC 20036-2244

Signing Officer

Name
Peter Bell
Title
CEO
Phone
2029391760
Signed
2023-11-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Peter Bell
Formed
1998
Legal Domicile
Dc
Voting Board Members
26
Independent Board Members
26
Employees
0
Volunteers
40

Preparer

Firm
Heimlantz Cpas & Advisors LLC
Address
1800 DIAGONAL ROAD STE 635, ALEXANDRIA, VA 22314
Preparer
Joshua S Price CPA
Phone
7032996565
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Prof desig pgm-curr consltg: program service expenses 5,000. Management and general expenses 0. Fundraising expenses 0. Total expenses 5,000. Prof desig pgm-test adm & scor: program service expenses 2,139. Management and general expenses 0. Fundraising expenses 0. Total expenses 2,139. Legislative: program service expenses 239,400. Management and general expenses 0. Fundraising expenses 0. Total expenses 239,400. Consulting: program service expenses 0. Management and general expenses 27,221. Fundraising expenses 0. Total expenses 27,221.

Form 990 Part XII, Line 2C

The organization didn't change its oversight process or selection process of the audit of its financial statements during the tax year. The board reviews and approves the audited financial statements.

Financial Statement Notes

PART X, LINE 2:

Part x: in june 2006, the financial accounting standards board (fasb) released fas asc 740-10, income taxes, that provide guidance for reporting uncertainity in income taxes. For the years ended december 31, 2022 and 2021, the association has documented its consideration of fasb asc 740-10 and determined that no material uncertain tax positions qualify for either recognition or disclosure in the financial statements.

Raw XML AppendixShowing 400 of 536 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.

Path#Value
IRS990/AccountantCompileOrReviewInd00
IRS990/AccountsPayableAccrExpnssGrp/BOYAmt07670
IRS990/AccountsPayableAccrExpnssGrp/EOYAmt022622
IRS990/AccountsReceivableGrp/BOYAmt0330199
IRS990/AccountsReceivableGrp/EOYAmt0290022
IRS990/ActivitiesConductedPrtshpInd00
IRS990/ActivityOrMissionDesc0PROMOTE AWARENESS & USE OF REVERSE MORTGAGES
IRS990/AdvertisingGrp/ProgramServicesAmt0225
IRS990/AdvertisingGrp/TotalAmt0225
IRS990/AuditCommitteeInd01
IRS990/BackupWthldComplianceInd01
IRS990/BooksInCareOfDetail/BusinessName/BusinessNameLine1Txt0DWORBELL INC
IRS990/BooksInCareOfDetail/PhoneNum02029391740
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt01400 16TH STREET NW
IRS990/BooksInCareOfDetail/USAddress/CityNm0WASHINGTON
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0DC
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IRS990/ChangeToOrgDocumentsInd00
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IRS990/CollectionsOfArtInd00
IRS990/CompensationFromOtherSrcsInd00
IRS990/CompensationProcessCEOInd00
IRS990/CompensationProcessOtherInd00
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IRS990/ConferencesMeetingsGrp/TotalAmt0343164
IRS990/ConflictOfInterestPolicyInd00
IRS990/ConservationEasementsInd00
IRS990/ConsolidatedAuditFinclStmtInd00
IRS990/ContractorCompensationGrp/CompensationAmt01025000
IRS990/ContractorCompensationGrp/CompensationAmt1300000
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/AddressLine1Txt01400 16TH STREET NW SUITE 420
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/AddressLine1Txt11300 19TH STREET NW 5TH FLOOR
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/CityNm0WASHINGTON
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/CityNm1WASHINGTON
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/StateAbbreviationCd0DC
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IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/ZIPCd120036
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IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt1WEINER BRODSKY KIDER
IRS990/ContractorCompensationGrp/ServicesDesc0MANAGEMENT SERVICES
IRS990/ContractorCompensationGrp/ServicesDesc1LEGAL
IRS990/CreditCounselingInd00
IRS990/CYBenefitsPaidToMembersAmt00
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IRS990/CYGrantsAndSimilarPaidAmt00
IRS990/CYInvestmentIncomeAmt05156
IRS990/CYOtherExpensesAmt02550931
IRS990/CYOtherRevenueAmt00
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IRS990/CYRevenuesLessExpensesAmt0424851
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IRS990/CYTotalRevenueAmt02975782
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IRS990/DeductibleNonCashContriInd00
IRS990/DeferredRevenueGrp/BOYAmt0501621
IRS990/DeferredRevenueGrp/EOYAmt0434767
IRS990/DelegationOfMgmtDutiesInd01
IRS990/DepreciationDepletionGrp/ManagementAndGeneralAmt01781
IRS990/DepreciationDepletionGrp/TotalAmt01781
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IRS990/Form990PartVIISectionAGrp/PersonNm1SCOTT NORMAN
IRS990/Form990PartVIISectionAGrp/PersonNm2JIM CORY
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IRS990/Form990PartVIISectionAGrp/TitleTxt2VICE CHAIR
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IRS990/Form990PartVIISectionAGrp/TitleTxt4SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt5TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt20DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt22DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt23DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt24DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt25DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt26CEO
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IRS990/GrantToRelatedPersonInd00
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IRS990/MissionDesc0TO EDUCATE CONSUMERS ABOUT THE PROS AND CONS OF REVERSE MORTGAGES, TO TRAIN LENDERS TO BE SENSITIVE TO CLIENTS' NEEDS, TO ENFORCE OUR CODE OF CONDUCT AND BEST PRACTICES, AND TO PROMOTE REVERSE MORTGAGES IN THE NEWS MEDIA.
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IRS990/OtherExpensesGrp/Desc1STATE AND LOCAL ADVOCAC
IRS990/OtherExpensesGrp/Desc2TAXES AND LICENSES
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IRS990/ProgSrvcAccomActy2Grp/Desc0NEWSLETTER, OTHER EDUCATIONAL MATERIALS, MATERIALS SENT TO ALL MEMBERS, AND WEBSITE MAINTENANCE.
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IRS990/ProgSrvcAccomActy3Grp/Desc0PROVIDE INFORMATION TO THE GENERAL PUBLIC ON AVAILABLE REVERSE MORTGAGE PRODUCTS; CONSUMER INFORMATION.
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