SPECIALTY FOOD ASSOCIATION INC: Form 990, tax year 2023
View the entire original 990 at ProPublica ↗
- Organization
- SPECIALTY FOOD ASSOCIATION INC (EIN 13-1934121)
- Tax period
- 2023-01-01 to 2023-12-31
- Filed
- 2024-09-23
- IRS object ID
- 202432679349301378
- Schema version
- 2023v5.1
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2024-09-23T16:34:15-05:00 | ReturnTs |
| Tax Period End | 2023-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 873231666 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | PKF O'CONNOR DAVIES ADVISORY LLC | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 500 MAMARONECK AVENUE SUITE 301 | AddressLine1Txt |
| City | HARRISON | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 105281633 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2023-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 131934121 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SPECIALTY FOOD ASSOCIATION INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | SPEC | BusinessNameControlTxt |
| Phone | 2124826440 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 136 MADISON AVENUE 12TH FL | AddressLine1Txt |
| City | NEW YORK | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 10016 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | WILLIAM LYNCH | PersonNm |
| Person Title | PRESIDENT | PersonTitleTxt |
| Phone | 2124826440 | PhoneNum |
| Signature | 2024-09-23 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | Yes (1) | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | MELISSA MODELSON | PreparerPersonNm |
| PTIN | P01603524 | PTIN |
| Phone | 9143818900 | PhoneNum |
| Preparation | 2024-09-23 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2023 | TaxYr |
| Build TS | 2024-08-08 14:25:15Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | WILLIAM LYNCH | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 136 MADISON AVENUE 12TH FL | AddressLine1Txt |
| City | NEW YORK | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 10016 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $55,686,951 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.SPECIALTYFOOD.COM | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1952 | FormationYr |
| Legal Domicile State | NY | LegalDomicileStateCd |
| Activity Or Mission | THE SPECIALTY FOOD ASSOCIATION, INC. (SFA) IS A TRADE ASSOCIATION WHICH, THROUGH ITS MEDIA PROGRAMS, THE FANCY FOOD SHOW, AND ITS MEMBERSHIP OF OVER 3,800 SPECIALTY FOOD COMPANIES WORKS TO FOSTER A THRIVING SPECIALTY FOODS MARKETPLACE. | ActivityOrMissionDesc |
| Voting Members Governing Body | 17 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 17 | VotingMembersIndependentCnt |
| Total Employee | 46 | TotalEmployeeCnt |
| Total Volunteers | 70 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $20,500,813 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $25,779,553 | CYProgramServiceRevenueAmt |
| PY Investment Income | $767,316 | PYInvestmentIncomeAmt |
| CY Investment Income | $2,370,275 | CYInvestmentIncomeAmt |
| PY Other Revenue | $10,103,322 | PYOtherRevenueAmt |
| CY Other Revenue | $1,635 | CYOtherRevenueAmt |
| PY Total Revenue | $31,371,451 | PYTotalRevenueAmt |
| CY Total Revenue | $28,151,463 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $75,000 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $7,257,895 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $8,958,099 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $14,568,383 | PYOtherExpensesAmt |
| CY Other Expenses | $16,898,864 | CYOtherExpensesAmt |
| PY Total Expenses | $21,901,278 | PYTotalExpensesAmt |
| CY Total Expenses | $25,856,963 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $9,470,173 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $2,294,500 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $75,601,880 | TotalAssetsBOYAmt |
| Total Assets EOY | $84,400,298 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $15,715,007 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $16,964,516 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $59,886,873 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $67,435,782 | NetAssetsOrFundBalancesEOYAmt |
| Mission | TO CHAMPION, NURTURE AND CONNECT OUR MEMBERS TO DELIVER INNOVATIVE PRODUCTS AND EXPAND CONSUMPTION OF SPECIALTY FOODS. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | CONNECT: CONNECT REFERS TO THE ASSOCIATION'S MISSION TO CONNECT MAKERS AND BUYERS WHILE PROVIDING INDUSTRY INSIGHTS AND IMPROVING AND RUNNING THE FANCY FOOD SHOWS. THIS ENABLES THE ASSOCIATION TO BE BEST IN CLASS IN ENHANCING MEMBERS' DATA AND PROFILE ACROSS ALL INTERACTIONS. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | CHAMPION: CHAMPION RELATES TO COMMUNICATING AND SUPPORTING SPECIALTY FOOD'S IMPORTANCE, SHOWCASING MARKET-READY INNOVATION FOR DOMESTIC AND GLOBAL AUDIENCES, AND CREATING MEMBER VALUE PROPOSITION FOR BOTH MAKERS AND BUYERS. | Desc |
Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | NURTURE: NURTURE RELATES TO PROVIDING CONTENT AND OUTREACH TO PROMOTE MEMBERS' VALUE AND RECOGNITION, ESTABLISHING EDUCATIONAL PROGRAMS, AND DELIVERING VALUE RELEVANT RESEARCH AND PROGRAMS TO ASSURE PREPAREDNESS. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Subject To Proxy Tax | Yes (1) | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | Yes (1) | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | Yes (1) | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 95 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 46 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 17 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 17 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (1) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (1) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | LYSA TEAL | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 6468780190 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 136 MADISON AVENUE 12TH FL | AddressLine1Txt |
| City | NEW YORK | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 10016 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (31 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Key EmployeeKeyEmployeeInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|---|
| JONATHAN E PRUDEN | ||||||||
| CHAIR | 2.00 | Yes (X) | Yes (X) | $3,547 | $0 | $0 | ||
| CHARLES APT | ||||||||
| PAST CHAIR | 2.00 | Yes (X) | Yes (X) | $2,232 | $0 | $0 | ||
| NONA YEANHONG LIM | ||||||||
| VICE CHAIR | 2.00 | Yes (X) | Yes (X) | $3,547 | $0 | $0 | ||
| PIERRE A ABUSHACRA | ||||||||
| TREASURER | 2.00 | Yes (X) | Yes (X) | $2,500 | $0 | $0 | ||
| JILL GIACOMINI BASCH | ||||||||
| SECRETARY | 2.00 | Yes (X) | Yes (X) | $3,668 | $0 | $0 | ||
| JULIE BUSHA | ||||||||
| DIRECTOR | 2.00 | Yes (X) | $3,297 | $0 | $0 | |||
| ELIZABETH A HALEY | ||||||||
| DIRECTOR | 2.00 | Yes (X) | $3,426 | $0 | $0 | |||
| VICTORIA HO | ||||||||
| DIRECTOR | 2.00 | Yes (X) | $3,668 | $0 | $0 | |||
| SCOTT JENSEN | ||||||||
| DIRECTOR | 2.00 | Yes (X) | $3,708 | $0 | $0 | |||
| TYLER S LOWELL | ||||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | |||
| SARAH Z MASONI | ||||||||
| DIRECTOR | 2.00 | Yes (X) | $3,668 | $0 | $0 | |||
| EMILIO MIGNUCCI | ||||||||
| DIRECTOR | 2.00 | Yes (X) | $2,903 | $0 | $0 | |||
| JOMAREE PINKARD | ||||||||
| DIRECTOR | 2.00 | Yes (X) | $3,426 | $0 | $0 | |||
| MIKE REICH | ||||||||
| DIRECTOR | 2.00 | Yes (X) | $3,184 | $0 | $0 | |||
| DWIGHT RICHMOND | ||||||||
| DIRECTOR | 2.00 | Yes (X) | $2,500 | $0 | $0 | |||
| SARAH WALLACE | ||||||||
| DIRECTOR | 2.00 | Yes (X) | $4,461 | $0 | $0 | |||
| LEE ZALBEN | ||||||||
| DIRECTOR | 2.00 | Yes (X) | $2,500 | $0 | $0 | |||
| WILLIAM LYNCH | ||||||||
| PRESIDENT | 40.00 | Yes (X) | $523,820 | $0 | $305,285 | |||
| LYSA TEAL | ||||||||
| SVP, FINANCE & PLANNING | 40.00 | Yes (X) | $392,885 | $0 | $69,037 | |||
| LAURA LOZADA | ||||||||
| VP, OPERATIONS | 40.00 | $213,094 | $0 | $22,481 | Yes (X) | |||
| DENISE PURCELL | ||||||||
| VP, RESOURCE DEVELOPMENT | 40.00 | $210,786 | $0 | $37,790 | Yes (X) | |||
| PHIL ROBINSON | ||||||||
| SVP, MEMBER DEVELOPMENT | 40.00 | $314,129 | $0 | $81,937 | Yes (X) | |||
| ANTHONY LEON | ||||||||
| VP, TECHNOLOGY | 40.00 | $221,553 | $0 | $45,222 | Yes (X) | |||
| LEANA SALAMAH | ||||||||
| SVP, MARKETING & COMMUNICATIONS | 40.00 | $209,793 | $0 | $32,697 | Yes (X) | |||
| DELIA MURPHY | ||||||||
| VP, RELATIONS | 40.00 | $175,614 | $0 | $15,673 | Yes (X) | |||
| AKI CIPRIANI | ||||||||
| VP, TALENT & CULTURE THRU OCT. 2023 | 40.00 | $222,717 | $0 | $32,491 | Yes (X) | |||
| NANCY WEISS | ||||||||
| DIR. OF ACCOUNTING & CONTROLLER | 40.00 | $176,397 | $0 | $61,326 | Yes (X) | |||
| CLAUDINE BERTI | ||||||||
| DIR., RESEARCH & DATA ANALYTICS | 40.00 | $167,659 | $0 | $65,290 | Yes (X) | |||
| MICHELLE MCDONALD | ||||||||
| DIR., MEMBER & BUYER RELATIONS | 40.00 | $160,217 | $0 | $53,594 | Yes (X) | |||
| GRETCHEN VANESSELSTYN | ||||||||
| DIR., EDUCATION AND PROGRAM DEVELOPMENT | 40.00 | $158,780 | $0 | $21,242 | Yes (X) | |||
| TRESSA KENNEDY | ||||||||
| DIRECTOR, OPERATIONS | 40.00 | $154,755 | $0 | $34,302 | Yes (X) | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $3,354,434 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $878,367 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 25 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| FREEMAN | |||||
| PO BOX 650036 | DALLAS | TX | 752650036 | EXHIBIT CONTRACTING | $4,122,695 |
| JACOB JAVITS CONVENTION CENTER | |||||
| 655 W 34TH ST | NEW YORK | NY | 10001 | CONVENTION CENTER/VENUE | $977,397 |
| PHASETEN STRATEGIC CORP | |||||
| 2445 FIFTH AVENUE SUITE 450 | SAN DIEGO | CA | 92101 | ADVERTSING SERVICES | $696,957 |
| FREEMAN EVENTS TECHNOLOGY | |||||
| PO BOX 734596 | DALLAS | TX | 753734596 | EXHIBIT CONTRACTING | $487,436 |
| UNITED NATIONAL MAINTENANCE COMPANY | |||||
| 1550 SOUTH INDIANA AVE | CHICAGO | IL | 60606 | EVENT CLEANING SERVICES | $476,376 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 26 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp (4 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| TRADE SHOWS / EVENTS | 900099 | $22,991,543 | $22,991,543 |
| MEMBERSHIP DUES | 900099 | $1,242,757 | $1,242,757 |
| MAGAZINE / WEBSITE | 541800 | $1,221,603 | $1,221,603 |
| EDUCATION | 900099 | $323,650 | $323,650 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $25,779,553 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $2,072,582 | TotalRevenueColumnAmt |
| Exclusion | $2,072,582 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $27,833,181 | SecuritiesAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $27,535,488 | SecuritiesAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $297,693 | SecuritiesAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $297,693 | TotalRevenueColumnAmt |
| Exclusion | $297,693 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | MISCELLANEOUS REVENUE | Desc |
| Business | 900099 | BusinessCd |
| Total Revenue Column | $1,635 | TotalRevenueColumnAmt |
| Exclusion | $1,635 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $1,635 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $28,151,463 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $25,779,553 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $2,371,910 | ExclusionAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,876,716 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,607,865 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $441,802 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $516,023 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $515,693 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $390,331 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $68,944 | TotalAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $144,249 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,287,242 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $764,881 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $847,070 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,575,066 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $889,340 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $619,112 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $7,653,701 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $24,049 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $386,087 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $357,766 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| RESEARCH | $360,935 |
| PRODUCTION EXPENSE | $151,966 |
| MISCELLANEOUS EXPENSES | $129,739 |
| PHOTOGRAPHY/ARTWORK | $88,693 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $159,693 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $25,856,963 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,425,856 | BOYAmt |
| EOY | $1,964,675 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,031,772 | BOYAmt |
| EOY | $1,114,003 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,764,734 | BOYAmt |
| EOY | $193,451 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,605,601 | BOYAmt |
| EOY | $2,468,704 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $3,073,229 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $2,333,296 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $975,499 | BOYAmt |
| EOY | $739,933 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $50,548,170 | BOYAmt |
| EOY | $72,185,733 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,515,588 | BOYAmt |
| EOY | $4,621,788 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,734,660 | BOYAmt |
| EOY | $1,112,011 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $75,601,880 | BOYAmt |
| EOY | $84,400,298 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,454,857 | BOYAmt |
| EOY | $1,597,758 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $12,046,405 | BOYAmt |
| EOY | $13,791,779 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,213,745 | BOYAmt |
| EOY | $1,574,979 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $15,715,007 | BOYAmt |
| EOY | $16,964,516 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $59,886,873 | BOYAmt |
| EOY | $67,435,782 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $59,886,873 | BOYAmt |
| EOY | $67,435,782 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $75,601,880 | BOYAmt |
| EOY | $84,400,298 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $2,294,500 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $5,527,031 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | -$272,622 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule C IRS990ScheduleC
| Field | Value | IRS element (for citing) |
|---|---|---|
| Substantially All Dues Nonded | 0 | SubstantiallyAllDuesNondedInd |
| Only In House Lobbying | Yes (1) | OnlyInHouseLobbyingInd |
| Agree Carryover Prior Year | 0 | AgreeCarryoverPriorYearInd |
Schedule D IRS990ScheduleD
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $2,302,285 | OtherCostOrOtherBasisAmt |
| Depreciation | $2,055,407 | DepreciationAmt |
| Book Value | $246,878 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $313,676 | OtherCostOrOtherBasisAmt |
| Depreciation | $136,881 | DepreciationAmt |
| Book Value | $176,795 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $457,268 | OtherCostOrOtherBasisAmt |
| Depreciation | $141,008 | DepreciationAmt |
| Book Value | $316,260 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $739,933 | TotalBookValueLandBuildingsAmt |
Other Securities OtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | KEY LIFE INSURANCE | Desc |
| Book Value | $4,621,788 | BookValueAmt |
| Method Valuation | F | MethodValuationCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Securities | $4,621,788 | TotalBookValueSecuritiesAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (2 entries)
| DescDesc | AmtAmt |
|---|---|
| LEASE LIABILITY | $1,361,288 |
| DEFERRED COMPENSATION | $213,691 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $1,574,979 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $33,405,872 | TotalRevEtcAuditedFinclStmtAmt |
| Net Unrealized Gains Invst | $5,527,031 | NetUnrealizedGainsInvstAmt |
| Revenue Not Reported | $5,527,031 | RevenueNotReportedAmt |
| Revenue Subtotal | $27,878,841 | RevenueSubtotalAmt |
| Other Revenues Not Included | $272,622 | OtherRevenuesNotIncludedAmt |
| Revenue Not Reported Fincl Stmt | $272,622 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $28,151,463 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $25,856,963 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $25,856,963 | ExpensesSubtotalAmt |
| Expenses Not Rpt Fincl Stmt | $0 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $25,856,963 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART X, LINE 2: | THE ORGANIZATION RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT TO BE SUSTAINED. MANAGEMENT HAS DETERMINED THAT THE ORGANIZATION HAD NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION AND/OR DISCLOSURE. THE ORGANIZATION IS NO LONGER SUBJECT TO EXAMINATIONS BY THE APPLICABLE TAXING JURISDICTIONS FOR YEARS PRIOR TO DECEMBER 31, 2020. |
| PART XI, LINE 4B - OTHER ADJUSTMENTS: | LOSS ON DISPOSAL OF FIXED ASSETS 272,622. |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Substantiation Required | Yes (1) | SubstantiationRequiredInd |
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| Form990 Of Other Organizations | Yes (X) | Form990OfOtherOrganizationsInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | Yes (1) | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | Yes (1) | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (14 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| WILLIAM LYNCH | ||||||||||||||
| PRESIDENT | $402,467 | $0 | $96,750 | $0 | $24,603 | $0 | $254,250 | $0 | $51,035 | $0 | $829,105 | $0 | $96,500 | $0 |
| LYSA TEAL | ||||||||||||||
| SVP, FINANCE & PLANNING | $306,950 | $0 | $60,700 | $0 | $25,235 | $0 | $64,000 | $0 | $5,037 | $0 | $461,922 | $0 | $0 | $0 |
| PHIL ROBINSON | ||||||||||||||
| SVP, MEMBER DEVELOPMENT | $277,151 | $0 | $31,900 | $0 | $5,078 | $0 | $16,679 | $0 | $65,258 | $0 | $396,066 | $0 | $0 | $0 |
| ANTHONY LEON | ||||||||||||||
| VP, TECHNOLOGY | $201,569 | $0 | $19,300 | $0 | $684 | $0 | $10,337 | $0 | $34,885 | $0 | $266,775 | $0 | $0 | $0 |
| AKI CIPRIANI | ||||||||||||||
| VP, TALENT & CULTURE THRU OCT. 2023 | $171,417 | $0 | $0 | $0 | $51,300 | $0 | $16,991 | $0 | $15,500 | $0 | $255,208 | $0 | $0 | $0 |
| DENISE PURCELL | ||||||||||||||
| VP, RESOURCE DEVELOPMENT | $192,248 | $0 | $17,600 | $0 | $938 | $0 | $21,248 | $0 | $16,542 | $0 | $248,576 | $0 | $0 | $0 |
| LEANA SALAMAH | ||||||||||||||
| SVP, MARKETING & COMMUNICATIONS | $183,481 | $0 | $26,000 | $0 | $312 | $0 | $3,700 | $0 | $28,997 | $0 | $242,490 | $0 | $0 | $0 |
| NANCY WEISS | ||||||||||||||
| DIR. OF ACCOUNTING & CONTROLLER | $162,591 | $0 | $12,300 | $0 | $1,506 | $0 | $18,325 | $0 | $43,001 | $0 | $237,723 | $0 | $0 | $0 |
| LAURA LOZADA | ||||||||||||||
| VP, OPERATIONS | $194,882 | $0 | $17,600 | $0 | $612 | $0 | $21,248 | $0 | $1,233 | $0 | $235,575 | $0 | $0 | $0 |
| CLAUDINE BERTI | ||||||||||||||
| DIR., RESEARCH & DATA ANALYTICS | $154,988 | $0 | $11,900 | $0 | $771 | $0 | $17,676 | $0 | $47,614 | $0 | $232,949 | $0 | $0 | $0 |
| MICHELLE MCDONALD | ||||||||||||||
| DIR., MEMBER & BUYER RELATIONS | $159,032 | $0 | $0 | $0 | $1,185 | $0 | $16,588 | $0 | $37,006 | $0 | $213,811 | $0 | $0 | $0 |
| DELIA MURPHY | ||||||||||||||
| VP, RELATIONS | $157,338 | $0 | $18,000 | $0 | $276 | $0 | $4,615 | $0 | $11,058 | $0 | $191,287 | $0 | $0 | $0 |
| TRESSA KENNEDY | ||||||||||||||
| DIRECTOR, OPERATIONS | $143,714 | $0 | $10,600 | $0 | $441 | $0 | $15,810 | $0 | $18,492 | $0 | $189,057 | $0 | $0 | $0 |
| GRETCHEN VANESSELSTYN | ||||||||||||||
| DIR., EDUCATION AND PROGRAM DEVELOPM | $146,196 | $0 | $11,900 | $0 | $684 | $0 | $16,076 | $0 | $5,166 | $0 | $180,022 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINES 4A-B | FormAndLineReferenceDesc |
| Explanation | AKI CIPRIANI RECEIVED $50,938 OF SEVERANCE IN THEIR 2023 W-2, WHICH WAS REPORTED IN PART II, COLUMN (B)(III). BILL LYNCH AND LYSA TEAL PARTICIPATED IN THE ORGANIZATIONS NONQUALIFIED SUPPLEMENTAL 457(F) RETIREMENT PLAN. DURING THE YEAR $42,500 AND $31,000 WERE CONTRIBUTED TO THE PLAN RESPECTIVELY. THERE WERE NO DISTRIBUTIONS FORM THE PLAN DURING THE YEAR. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (8 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | MEMBERSHIP OF THE CORPORATION SHALL BE OPEN TO ANY CORPORATION, PARTNERSHIP, LIMITED LIABILITY COMPANY OR OTHER ENTITY, OR ANY SOLE PROPRIETOR THAT: (1) MEETS THE QUALIFICATIONS ADOPTED BY THE BOARD OF DIRECTORS; (2) IS ENGAGED IN ANY ONE OR MORE AREAS OF THE SPECIALTY FOOD, BEVERAGE AND CONFECTIONERY INDUSTRY WHOSE PRODUCTS OR SERVICES MEET THE DEFINITION OF SPECIALTY FOOD PRODUCTS OR SERVICES SET FORTH IN THESE BY-LAWS OR WHOSE ACTIVITIES MEET THE OTHER RELEVANT STANDARDS ADOPTED BY THE BOARD OF DIRECTORS; AND (3) IS INTERESTED IN SUPPORTING THE PURPOSES OF THE CORPORATION. |
| FORM 990, PART VI, SECTION A, LINE 7A | ALL BOARD POSITIONS ARE SUBJECT TO ANNUAL ELECTIONS OF THE GENERAL MEMBERSHIP. THE ASSOCIATION'S NOMINATING COMMITTEE IS CHARGED WITH SELECTING QUALIFIED CANDIDATES TO BE NOMINATED FOR THE CHANCE OF BEING ELECTED TO THE BOARD. |
| FORM 990, PART VI, SECTION B, LINE 11B | SPECIALTY FOOD ASSOCIATION, INC. HAS ITS FORM 990 PREPARED BY AN OUTSIDE ACCOUNTING FIRM AND HAS ESTABLISHED THE FOLLOWING REVIEW PROCESS TO ENSURE THAT THE INFORMATION REPORTED IS COMPLETE AND ACCURATE. WHEN THE FORM 990 HAS BEEN PREPARED, REVIEWED BY MANAGEMENT AND IS READY TO BE FILED WITH THE INTERNAL REVENUE SERVICE, IT IS ELECTRONICALLY SENT TO THE BOARD MEMBERS OF THE ORGANIZATION FOR ANY COMMENTS. ANY COMMENTS ARE THEN GROUPED, SUMMARIZED AND PROVIDED TO THE OUTSIDE ACCOUNTANTS. EACH ISSUE IS DOCUMENTED AND ADDRESSED UNTIL THE RETURN IS FINALIZED AND APPROVED FOR FILING. |
| FORM 990, PART VI, SECTION B, LINE 12C | DIRECTORS, OFFICERS AND KEY PERSONS ("INTERESTED PERSONS") MUST DISCLOSE ANY POTENTIAL CONFLICTS OF INTEREST WHEN VOTING ON POLICY OR TRANSACTION MATTERS OF THE CORPORATION AND COMPLY WITH THE CORPORATION'S CONFLICT OF INTEREST POLICY. THEY WILL BE REQUIRED TO SIGN A CONFLICT OF INTEREST STATEMENT ANNUALLY. ADDITIONALLY, THE CORPORATION SHALL NOT ENTER INTO A TRANSACTION WITH A "RELATED PARTY", AS THAT TERM IS DEFINED IN THE CORPORATION'S CONFLICT OF INTEREST POLICY, UNTIL ALL OF THE REQUIREMENTS SET FORTH IN THE CORPORATION'S CONFLICT OF INTEREST POLICY FOR APPROVING A TRANSACTION WITH A RELATED PARTY HAVE BEEN SATISFIED. IF THE BOARD HAS REASONABLE CAUSE TO BELIEVE A MEMBER HAS FAILED TO DISCLOSE ACTUAL OR POSSIBLE CONFLICTS OF INTEREST, IT SHALL INFORM THE MEMBER OF THE BASIS FOR SUCH BELIEF AND AFFORD THE MEMBER AN OPPORTUNITY TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE. IF, AFTER HEARING THE MEMBER'S RESPONSE AND AFTER MAKING FURTHER INVESTIGATION AS WARRANTED BY THE CIRCUMSTANCES, THE BOARD OR COMMITTEE DETERMINES THE MEMBER HAS FAILED TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, IT SHALL TAKE APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION. AN INTERESTED PERSON MAY MAKE A PRESENTATION REGARDING THE ARRANGEMENT OR TRANSACTION INVOLVING THE POSSIBLE CONFLICT OF INTEREST TO THE COMMITTEE. AN INTERESTED PERSON IS PROHIBITED FROM ATTEMPTING TO IMPROPERLY INFLUENCE ANY DELIBERATION OR VOTING RELATED TO THE TRANSACTION OR ARRANGEMENT INVOLVING THE POSSIBLE CONFLICT OF INTEREST. THE INTERESTED PERSON MUST LEAVE A MEETING DURING THE DISCUSSION OF, AND THE VOTE ON, ANY SUCH TRANSACTION OR ARRANGEMENT UNTIL THE COMMITTEE DETERMINES WHETHER A CONFLICT OF INTEREST EXISTS. AFTER EXERCISING DUE DILIGENCE, THE COMMITTEE SHALL DETERMINE BY A MAJORITY VOTE OF THE DISINTERESTED MEMBERS WHETHER A CONFLICT OF INTEREST EXISTS AND WHETHER THE TRANSACTION OR ARRANGEMENT INVOLVING A POSSIBLE CONFLICT OF INTEREST IS IN THE CORPORATION'S BEST INTEREST, FOR ITS OWN BENEFIT, AND WHETHER IT IS FAIR AND REASONABLE. IN CONFORMITY WITH THE ABOVE DETERMINATION IT SHALL REPORT TO THE BOARD ITS DETERMINATION REGARDING THE EXISTENCE OF A CONFLICT OF INTEREST AND SHALL MAKE A RECOMMENDATION AS TO WHETHER THE BOARD SHOULD APPROVE THE TRANSACTION OR ARRANGEMENT; PROVIDED THAT IF THE TRANSACTION OR ARRANGEMENT INVOLVING A POSSIBLE CONFLICT OF INTEREST CONSTITUTES A RELATED PARTY TRANSACTION THEN IT MUST BE APPROVED IN ACCORDANCE WITH THE PROCEDURES WITHIN THE CORPORATION'S POLICIES AND PROCEDURES. |
| FORM 990, PART VI, SECTION B, LINE 15 | THE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS IS THE BODY CHARGED WITH REVIEWING THE COMPENSATION PACKAGES OF THE PRESIDENT AND SVP, FINANCE & STRATEGY (THE "OFFICERS") AND MAKING RECOMMENDATIONS TO BE APPROVED BY THE BOARD. THE COMMITTEE REVIEWS MARKET DATA AND PERFORMANCE IN DETERMINING WHAT AN EQUITABLE COMPENSATION PACKAGE SHOULD BE. THE REVIEW AND APPROVAL FOR THE OFFICERS WERE DOCUMENTED IN THE MEETING MINUTES. THE ORGANIZATION ENGAGED MERCER TO PERFORM AN INDEPTH COMPENSATION ANALYSIS FOR THE OFFICERS AND KEY EMPLOYEES IN 2023. THE PRESIDENT OF THE ASSOCIATION PREPARES EVALUATIONS AND SETS COMPENSATION FOR THE ORGANIZATION'S KEY EMPLOYEES BASED ON EACH INDIVIDUAL'S PERFORMANCE DURING THE CURRENT YEAR. THE BOARD OF DIRECTORS ENGAGED A THIRD PARTY TO CONDUCT AN ASSESSMENT ON BOARD COMPENSATION. THE COMPENSATION ASSESSMENT FOCUSED ON SIMILAR TYPES OF 501(C)(6) ENTITIES TO THE ASSOCIATION AND DETERMINED A REASONABLE RANGE OF COMPENSATION FOR ITS DIRECTORS. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE ORGANIZATION MAKES ITS FORM 990 AVAILABLE FOR PUBLIC INSPECTION AS REQUIRED UNDER SECTION 6104 OF THE INTERNAL REVENUE CODE. IT IS AVAILABLE ON GUIDESTAR AND OTHER SIMILAR TYPES OF WEBSITES. IN ADDITION, THE FINANCIAL STATEMENTS, CONFLICT OF INTEREST POLICY, ARTICLES OF INCORPORATION AND BY-LAWS ARE ALSO AVAILABLE UPON WRITTEN REQUEST. |
| FORM 990, PART XI, LINE 9: | LOSS ON DISPOSAL OF FIXED ASSETS -272,622. |
| FORM 990, PART XII, LINE 2C: | THE ORGANIZATION HAS A FINANCE COMMITTEE THAT ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND THE SELECTION OF AN INDEPENDENT ACCOUNTANT. THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. |