Civic Intelligence

National Association for Fixed Annuities

990 • Fiscal year 2020 • EIN 54-1877987

Jan 01, 2020 to Dec 31, 2020 • Filed on Apr 08, 2021

Organization Profilewww.nafa.com
11933 W Burleigh Street Room 100Wauwatosa, WI 53222

(414) 332-9306

Siviq Scores

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

Liabilities / Assets

80th percentile

0.36x

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

2020 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2020

Liabilities / Revenue

71st percentile

0.27x

Higher debt load relative to revenue than 71% of similar nonprofits.

2020 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2020

Net Margin

38th percentile

1.3%

Higher net margin than 38% of similar nonprofits.

2020 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2020

Top Officer Pay

94th percentile

$200,042

Higher top officer pay than 94% of similar nonprofits.

Top officer pay equals 22.7% of source-year revenue.

2020 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2020

Asset Growth

76th percentile

20%

Faster asset growth than 76% of similar nonprofits.

2020 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Revenue Growth

29th percentile

-21%

Faster revenue growth than 29% of similar nonprofits.

2020 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets80th percentile

Assets

Up

$671,327

Up $114,013 (+20%) from 2019

Net Assets

Up

$429,160

Up $11,695 (+2.8%) from 2019

Liabilities

Up

$242,167

Up $102,318 (+73%) from 2019

Revenue And Expenses
Liabilities / Revenue71st percentileNet Margin38th percentile

Revenue

Down

$881,558

Down $241,350 (-21%) from 2019

Expenses

Down

$869,863

Down $216,467 (-20%) from 2019

Net Income

Down

$11,695

Down $24,883 (-68%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth76th percentile

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

$2.0M$1.5M$1.0M$500K$0Assets 2010: $284,385Liabilities 2010: $0Net Assets 2010: $284,3852010Assets 2011: $274,672Liabilities 2011: $0Net Assets 2011: $274,6722011Assets 2012: $343,628Liabilities 2012: $0Net Assets 2012: $343,6282012Assets 2013: $338,462Liabilities 2013: $160,500Net Assets 2013: $177,9622013Assets 2014: $345,151Liabilities 2014: $137,595Net Assets 2014: $207,5562014Assets 2015: $249,495Liabilities 2015: $80,461Net Assets 2015: $169,0342015Assets 2016: $525,865Liabilities 2016: $60,276Net Assets 2016: $465,5892016Assets 2017: $559,033Liabilities 2017: $61,302Net Assets 2017: $497,7312017Assets 2018: $534,687Liabilities 2018: $153,800Net Assets 2018: $380,8872018Assets 2019: $557,314Liabilities 2019: $139,849Net Assets 2019: $417,4652019Assets 2020: $671,327Liabilities 2020: $242,167Net Assets 2020: $429,1602020Assets 2021: $1,111,243Liabilities 2021: $442,541Net Assets 2021: $668,7022021Assets 2022: $1,430,503Liabilities 2022: $573,741Net Assets 2022: $856,7622022Assets 2023: $1,659,036Liabilities 2023: $551,216Net Assets 2023: $1,107,8202023Assets 2024: $1,995,983Liabilities 2024: $679,713Net Assets 2024: $1,316,2702024

Highlighted filing

2020

Assets$671,327
Liabilities$242,167
Net Assets$429,160
Open 2020 Filing

Operations Trend

Revenue Growth29th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2010: $519,6112010Revenue 2011: $869,006Expenses 2011: $878,719Net Income 2011: -$9,7132011Expenses 2012: $898,4542012Revenue 2013: $644,518Expenses 2013: $756,981Net Income 2013: -$112,4632013Revenue 2014: $921,239Expenses 2014: $877,871Net Income 2014: $43,3682014Revenue 2015: $978,136Expenses 2015: $1,016,658Net Income 2015: -$38,5222015Revenue 2016: $2,186,304Expenses 2016: $1,889,749Net Income 2016: $296,5552016Revenue 2017: $1,399,121Expenses 2017: $1,366,979Net Income 2017: $32,1422017Revenue 2018: $1,079,538Expenses 2018: $1,196,382Net Income 2018: -$116,8442018Revenue 2019: $1,122,908Expenses 2019: $1,086,330Net Income 2019: $36,5782019Revenue 2020: $881,558Expenses 2020: $869,863Net Income 2020: $11,6952020Revenue 2021: $1,212,602Expenses 2021: $973,060Net Income 2021: $239,5422021Revenue 2022: $1,421,840Expenses 2022: $1,233,780Net Income 2022: $188,0602022Revenue 2023: $1,812,906Expenses 2023: $1,561,848Net Income 2023: $251,0582023Revenue 2024: $2,022,057Expenses 2024: $1,813,607Net Income 2024: $208,4502024

Highlighted filing

2020

Revenue$881,558
Expenses$869,863
Net Income$11,695
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Apr 8, 2021
Return Version
2020v4.1
Gross Receipts
$881,558
Mission and Program Overview

Mission

NAFA is exclusively dedicated to promoting the awareness and understanding of fixed income and deferred annuities through the education of policymakers, journalists, consumers, and the industry.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$511,340$636,505▲ $125,165
Accounts Receivable$35,974$29,409▼ $6,565
Prepaid Expenses and Deferred Charges$10,000$5,413▼ $4,587
Total Assets$557,314$671,327▲ $114,013
Liabilities
Deferred Revenue$114,000$236,000▲ $122,000
Accounts Payable and Accrued Expenses$25,849$6,167▼ $19,682
Total Liabilities$139,849$242,167▲ $102,318
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$417,465$429,160▲ $11,695
Total Net Assets Fund Balance$417,465$429,160▲ $11,695
Total Liabilities and Net Assets / Fund Balance$557,314$671,327▲ $114,013
Compensation and Service Providers
Top Officer Pay94th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Charles DiVencenzo JrExecutive DirectorFT$175,995$24,047$200,042

Board Members and Trustees

NameTitle
Christopher S ConroyChair
Jim MaiettaPast Chair
Lauri BeckVice Chair
Andrew PayneDirector
Brad NewcombDirector
Bruce DonaldsonDirector
Craig RudesillDirector
Dave WolfeDirector
David SchliesmanDirector
Eric TaylorDirector
Janet SipesDirector
Jason KestlerDirector
Jason KrohnkeDirector
Kevin MechtleyDirector
Matt TarkentonDirector
Nate LuciusDirector
Ryan LexDirector
Tad FiferDirector
Tim MinardDirector
Heather KaneSecretary
Mike MorroneTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$881,558
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$11,695
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$502,363
Other Expenses$367,500
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$235,164--$235,164
Current Officers, Directors, Trustees, and Key Employees$200,042--$200,042
Fees for Services Lobbying$102,900--$102,900
Fees for Services Other$101,029--$101,029
Conferences and Meetings$47,900--$47,900
Other Employee Benefits$41,564--$41,564
Payroll Taxes$25,593--$25,593
Fees for Services Legal$25,456--$25,456
Travel$22,811--$22,811
Fees for Services Accounting$15,690--$15,690
Office Expenses$13,620--$13,620
Other Expenses$6,104--$6,104
Information Technology$4,268--$4,268
Occupancy$3,426--$3,426
Insurance$2,798--$2,798
Total Functional Expenses$869,863$0$0$869,863
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
Total Nondeductible Lobbying and Political Cost$117,285
Current Year Nondeductible Lobbying and Political Cost$102,900
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 bylaws require membership to elect its Board of Directors. We are a non-stock nonprofit made up of members.”

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

“Our membership votes in board of directors annually who serve for three years. The Board of Directors elects its officers.”

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

“The membership approves or disapproves of descisions by the board through representation and counsel.”

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

“The 990 is reviewed by a member of the Executive Committee prior to filing.”

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

“At the beginning of each year all board members review a conflict of interest statement that they understand they are to disclose any conflicts.”

Form 990, Part VI, Section B, Line 15

“The Board annually reviews the compensation of the Executive Director. Compensation surveys from association firms and annual performance reviews are used to determine reasonableness.”

Form 990, Part VI, Section C, Line 19

“Governing documents, conflict of interest policy, and financial statements are available at our company website under Policies and Governance.”

Filing and Contact Details

Filer

Filer Name
National Association for Fixed Annuities
EIN
54-1877987
Phone
4143329306
Address
11933 W Burleigh Street Room 100, Wauwatosa, WI 53222

Signing Officer

Name
Mike Morrone
Title
Treasurer
Signed
2021-04-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Charles DiVencenzo
Formed
1998
Legal Domicile
Wi
Voting Board Members
83
Independent Board Members
83
Employees
4

Preparer

Firm
O'Leary & Anick
Address
11933 W Burleigh Street Ste 100, Wauwatosa, WI 53222
Preparer
Christine C Daws
Phone
4147740300
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Other fee for services are for consulting services.”

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IRS990/MissionDesc0NAFA is exclusively dedicated to promoting the awareness and understanding of fixed income and deferred annuities through the education of policymakers, journalists, consumers, and the industry.
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IRS990/ProgSrvcAccomActy2Grp/Desc0CONFERENCES - NAFA held the Annuity Leadership Forum and Annuity Distribution Summit virtually in 2020. Both conferences were designed to educate and inform attendees about fixed annuities and compliance with regulations and legislation governing fixed annuities. The events provided innovative and forward-thinking presentations by thought leaders in the industry and the business community. Both conferences resulted in net revenue gains to the association.
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0Charles DiVencenzo Jr
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0Executive Director
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The bylaws require membership to elect its Board of Directors. We are a non-stock nonprofit made up of members.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Our membership votes in board of directors annually who serve for three years. The Board of Directors elects its officers.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The membership approves or disapproves of descisions by the board through representation and counsel.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The 990 is reviewed by a member of the Executive Committee prior to filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4At the beginning of each year all board members review a conflict of interest statement that they understand they are to disclose any conflicts.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5The Board annually reviews the compensation of the Executive Director. Compensation surveys from association firms and annual performance reviews are used to determine reasonableness.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Governing documents, conflict of interest policy, and financial statements are available at our company website under Policies and Governance.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7Other fee for services are for consulting services.
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 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part VI, Section C, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7Form 990, Part IX, Line 11g
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Document Assets

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Filings

Displayed year

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

Open filing
Assets
$671,327
Liabilities
$242,167
Net assets
$429,160
Revenue
$881,558
Expenses
$869,863
Net income
$11,695
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.00$0.68$1.32$2.02$1.81$0.21
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.66$0.55$1.11$1.81$1.56$0.25
2022Detailed filing. Detailed filing data is available for this year.$1.43$0.57$0.86$1.42$1.23$0.19
2021Detailed filing. Detailed filing data is available for this year.$1.11$0.44$0.67$1.21$0.97$0.24
2020Detailed filing. Detailed filing data is available for this year.$0.67$0.24$0.43$0.88$0.87$0.01
2019Summary only. Only limited summary data is available for this year.$0.56$0.14$0.42$1.12$1.09$0.04
2018Summary only. Only limited summary data is available for this year.$0.53$0.15$0.38$1.08$1.20$0.12
2017Summary only. Only limited summary data is available for this year.$0.56$0.06$0.50$1.40$1.37$0.03
2016Summary only. Only limited summary data is available for this year.$0.53$0.06$0.47$2.19$1.89$0.30
2015Summary only. Only limited summary data is available for this year.$0.25$0.08$0.17$0.98$1.02$0.04
2014Summary only. Only limited summary data is available for this year.$0.35$0.14$0.21$0.92$0.88$0.04
2013Summary only. Only limited summary data is available for this year.$0.34$0.16$0.18$0.64$0.76$0.11
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.34$0.00$0.34$0.90
2011Summary only. Only limited summary data is available for this year.$0.27$0.00$0.27$0.87$0.88$0.01
2010XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.28$0.00$0.28$0.52