2023-11-14T09:09:49-06:00 2022-12-31 111986323 MARCUM LLP 1899 L STREET NW SUITE 850 WASHINGTON DC 20036 990 2022-01-01 530232489 NATIONAL ASSOCIATION OF INSURANCE AND FINANCIAL ADVISORS NATI 7037708100 1000 WILSON BLVD 1890 ARLINGTON VA 22209 ERNI DAVIS CPA CFO 7037708100 2023-11-14 1 ERNI DAVIS CPA 999009999 1 AARON M FOX P01365820 2022274000 2023-11-13 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z X KEVIN M MAYEUX 1000 WILSON BLVD 1890 ARLINGTON VA 22209 12317595 0 X WWW.NAIFA.ORG X 1921 DC ADVOCATE FOR A POSITIVE LEGISLATIVE AND REGULATORY ENVIRONMENT, ENHANCE BUSINESS AND PROFESSIONAL SKILLS, AND PROMOTE THE ETHICAL CONDUCT OF OUR MEMBERS. 17 17 59 119 349107 0 1868361 1189741 8633005 9084726 134659 -47727 183072 264737 10819097 10491477 30508 222334 0 0 5662206 5993600 0 0 0 4216002 4906489 9908716 11122423 910381 -630946 8421667 6355683 5574228 4013540 2847439 2342143 ADVOCATE FOR A POSITIVE LEGISLATIVE AND REGULATORY ENVIRONMENT, ENHANCE BUSINESS AND PROFESSIONAL SKILLS, AND PROMOTE THE ETHICAL CONDUCT OF OUR MEMBERS. 0 0 LEGISLATION, REGULATION, AND ETHICS - NATIONAL ASSOCIATION OF INSURANCE AND FINANCIAL ADVISORS (NAIFA) PROMOTES THE POSITION OF ITS MEMBERS ON ISSUES RELATING TO INSURANCE AND FINANCIAL SERVICES AT BOTH THE FEDERAL AND STATE LEVEL. NAIFA'S EFFORTS INCLUDE COORDINATION OF LOBBYING EFFORTS, GRASSROOTS PROGRAMS, PUBLIC RELATIONS, AND POLITICAL EDUCATION. MEMBERSHIP BENEFITS AND PROFESSIONAL DEVELOPMENT- NAIFA OFFERS NUMEROUS PROFESSIONAL PROGRAMS AND PRODUCTS TO ENHANCE SKILLS AND PROVIDE VALUE-ADDED BUSINESS SERVICES. PUBLICATIONS AND COMMUNICATIONS-NAIFA KEEPS ITS MEMBERS UP TO DATE ON LEGISLATIVE AND REGULATORY ISSUES THAT MAY AFFECT THEIR BUSINESSES, COMMUNICATES PROGRAMS AND SERVICES PROVIDED BY THE ORGANIZATION, PRODUCES VARIOUS PUBLICATIONS RELATED TO THE INDUSTRY, AND RAISES INDUSTRY AWARENESS TO THE PUBLIC. 0 1 1 1 0 0 0 0 0 1 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 21 0 1 59 1 1 1 0 0 0 1 1 0 0 0 X 17 17 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 X THE ORGANIZATION 7037708100 1000 WILSON BLVD 1890 ARLINGTON VA 22209 KEVIN M MAYEUX CEO 40.00 X 646089 0 25980 MICHAEL GERBER COO & GENERAL COUNSEL 40.00 X 312546 0 21883 ERNI DAVIS CFO 40.00 X 180884 0 17014 DIANE BOYLE SVP, GOVERNMENT RELATIONS 40.00 X 287817 0 22801 PHU NGO VP, TECHNOLOGY 40.00 X 186884 0 19068 SUZANNE CARAWAN VP, MARKETING & COMMUNICATIONS 40.00 X 189195 0 8252 COREY MATHEWS VP, MEMBER & CHAPTER SERVICES 40.00 X 159626 0 19949 KARLA KIRK VP, GROWTH & REVENUE 40.00 X 167504 0 3550 TOM COTHRON SECRETARY 10.00 X X 1609 0 0 LARRY HOLZBERG PRESIDENT 15.00 X X 1194 0 0 BRYON HOLZ PRESIDENT-ELECT 10.00 X X 0 0 0 BROCK JOLLY TREASURER 10.00 X X 0 0 0 THOMAS MICHEL IMMEDIATE PAST PRESIDENT 10.00 X X 0 0 0 MARK ACRE DIRECTOR 1.00 X 0 0 0 GEORGE W BOOKER II DIRECTOR 1.00 X 0 0 0 DENNIS CUCCINELLI DIRECTOR 1.00 X 0 0 0 CHRISTOPHER GANDY DIRECTOR 1.00 X 487 0 0 APRILYN CHAVEZ GEISSLER DIRECTOR 1.00 X 0 0 0 EVELYN GELLAR DIRECTOR 1.00 X 0 0 0 WINONA HAVIR DIRECTOR 1.00 X 487 0 0 JAMIE HOPKINS DIRECTOR 1.00 X 0 0 0 DOUGLAS MASSEY DIRECTOR 1.00 X 0 0 0 DANNY O'CONNELL DIRECTOR 1.00 X 0 0 0 VINCE VITIELLO DIRECTOR 1.00 X 185 0 0 BRIAN WILSON DIRECTOR 1.00 X 0 0 0 2134507 0 138497 18 0 1 0 STEPTOE & JOHNSON LLP PO BOX 603212 CHARLOTTE NC 28260 LEGAL SERVICES 302134 DANEA M KEHOE 3409 STONYBRAE DRIVE FALLS CHURCH VA 22044 LEGISLATIVE CONSULTING 120000 RAFFANIELLO & ASSOCIATES LLC 8414 MARTINGDALE DRIVE MCLEAN VA 22102 LEGISLATIVE CONSULTING 120000 3 250 1189491 1189741 MEMBERSHIP DUES 900099 7613562 7613562 CHAPTER MANAGEMENT FEES 900099 946465 946465 CONFERENCES AND MEETINGS 900099 414285 301785 112500 PUBLICATIONS 541800 108058 43084 64974 CERTIFICATION FEES 900099 2356 2356 9084726 85041 85041 2477 2477 90627 0 90627 90627 90627 1693350 1826118 -132768 -132768 -132768 AFFINITY PROGRAMS 900099 171633 171633 171633 10491477 7960787 349107 991842 151284 71050 1208358 3836003 86793 539146 323300 7283 46436 540000 26697 537834 108689 411222 535499 742569 367603 1011280 21649 138234 52867 TAXES 33379 DUES & SUBSCRIPTIONS 174431 EQUITY LOSS- SUBSIDIARY 82050 STAFF DEVELOPMENT 35517 33250 11122423 250 1550655 2763919 0 1056447 73965 126719 166039 837438 735660 231520 101778 2376074 3692759 1796109 0 70629 770487 8421667 6355683 2742288 1225190 1772850 1823589 0 499400 499400 0 559690 465361 5574228 4013540 X 2783425 2317916 64014 24227 2847439 2342143 8421667 6355683 -630946 -383438 509088 0 X 0 1 X 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 146400 0 0 146400 146400 0 NAIFA PAC 2901 TELESTAR COURT FALLS CHURCH VA 22042 520899774 146400 23819 0 0 1 7613562 1992375 48441 2040816 2069327 -28511 SCHEDULE C, PART I-C, LINE 5, COLUMN (E) NAIFA GIVES ITS EMPLOYEES THE OPTION TO MAKE CONTRIBUTIONS TO NAIFA PAC THROUGH PAYROLL DEDUCTIONS. THE CONTRIBUTIONS ARE PROMPTLY PAID TO NAIFA PAC. 485816 436976 48840 311114 264824 46290 40508 33860 6648 101778 RIGHT-OF-USE ASSET 402764 INTERCOMPANY RECEIVABLES, NET OF PAYABLES 233833 DEPOSITS 133890 770487 OPERATING LEASE LIABILITY 465361 465361 X PART X, LINE 2: THE ASSOCIATION REVIEWS AND ASSESSES ALL ACTIVITIES ANNUALLY TO IDENTIFY ANY CHANGES IN THE SCOPE OF THE ACTIVITIES AND REVENUE SOURCES AND THE TAX TREATMENT THEREOF TO IDENTIFY ANY UNCERTAINTY IN INCOME TAXES. FOR THE YEAR ENDED DECEMBER 31, 2022, MANAGEMENT DID NOT IDENTIFY ANY UNCERTAINTY IN INCOME TAXES REQUIRING RECOGNITION OR DISCLOSURE IN THESE CONSOLIDATED FINANCIAL STATEMENTS. 0 NAIFA PAC 2901 TELESTAR COURT 6TH FLOOR FALLS CHURCH VA 22042 520899774 527 146400 0 POLITICAL CONTRIBUTION 0 1 TRAVEL STIPENDS 203 71050 X 1 1 X X X 0 0 0 KEVIN M MAYEUX CEO 499839 0 146250 0 0 0 9151 0 16829 0 672069 0 0 0 MICHAEL GERBER COO & GENERAL COUNSEL 287546 0 25000 0 0 0 6237 0 15646 0 334429 0 0 0 ERNI DAVIS CFO 180884 0 0 0 0 0 2025 0 14989 0 197898 0 0 0 DIANE BOYLE SVP, GOVERNMENT RELATIONS 275317 0 12500 0 0 0 2853 0 19948 0 310618 0 0 0 PHU NGO VP, TECHNOLOGY 179634 0 7250 0 0 0 3854 0 15214 0 205952 0 0 0 SUZANNE CARAWAN VP, MARKETING & COMMUNICATIONS 179195 0 10000 0 0 0 5352 0 2900 0 197447 0 0 0 COREY MATHEWS VP, MEMBER & CHAPTER SERVICES 153626 0 6000 0 0 0 4784 0 15165 0 179575 0 0 0 KARLA KIRK VP, GROWTH & REVENUE 167504 0 0 0 0 0 1124 0 2426 0 171054 0 0 0 PART I, LINE 1A NAIFA REIMBURSED DIRECTORS LAWRENCE J. HOLZBERG, TOM COTHRON, CHRISTOPHER GANDY, WINONA HAVIR, AND VINCE VITELLO FOR COMPANION TRAVEL TO CERTAIN EVENTS. THIS TRAVEL EXPENSE IS TREATED AS TAXABLE INCOME TO BOARD MEMBERS. FORM 990, PART VI, SECTION A, LINE 1A THE NAIFA BYLAWS AUTHORIZE AN EXECUTIVE COMMITTEE TO EXERCISE ALL OF THE BOARD'S POWERS WHEN THE BOARD IS NOT IN SESSION. THE EXECUTIVE COMMITTEE IS COMPRISED OF THE NAIFA PRESIDENT, PRESIDENT-ELECT, IMMEDIATE PAST PRESIDENT, SECRETARY, AND TREASURER. THE EXECUTIVE COMMITTEE IS REQUIRED TO REPORT ITS ACTIONS TO THE BOARD AT THE NEXT BOARD MEETING FOLLOWING SUCH ACTION, AND UNLESS DISAPPROVED BY THE BOARD AT SUCH NEXT MEETING THE EXECUTIVE COMMITTEE'S ACTIONS ARE FINAL AS THOUGH TAKEN BY THE BOARD. FORM 990, PART VI, SECTION A, LINE 6 NAIFA MEMBERS IN THE ACTIVE AND ASSOCIATE CLASSES HAVE THE RIGHT TO PARTICIPATE IN THE ORGANIZATION'S GOVERNANCE. ACTIVE MEMBERS ARE INSURANCE AND FINANCIAL ADVISORS LICENSED TO SELL LIFE, HEALTH, OR PROPERTY-CASUALTY INSURANCE, OR SECURITIES. ACTIVE MEMBERS MAY BE ELECTED TO THE NAIFA BOARD OF TRUSTEES AND ARE ENTITLED TO PARTICIPATE IN THE NATIONAL COUNCIL TO ELECT THE BOARD, AMEND THE BYLAWS, AND VOTE ON RESOLUTIONS. ASSOCIATE MEMBERS ARE INDIVIDUALS AFFILIATED WITH THE HOME OR AGENCY OFFICE OF AN INSURANCE COMPANY OR WITH A PROFESSION RELATED TO INSURANCE OR FINANCIAL SERVICES. ASSOCIATE MEMBERS MAY BE APPOINTED TO THE NAIFA BOARD OF TRUSTEES, ARE ENTITLED TO VOTE FOR NAIFA STATE AND LOCAL CHAPTER OFFICERS AND MAY SERVE AS CHAPTER DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7A THE NAIFA NATIONAL COUNCIL ANNUALLY ELECTS THE OFFICERS AND TRUSTEES OF THE NAIFA BOARD OF TRUSTEES (TRUSTEES ARE ELECTED TO TWO-YEAR TERMS). THE MEMBERS OF THE NAIFA NATIONAL COUNCIL, EACH OF WHOM HAS ONE VOTE, ARE COMPRISED OF PARTICIPATING ACTIVE MEMBERS OF NAIFA. FORM 990, PART VI, SECTION A, LINE 7B DECISIONS OF THE NAIFA BOARD OF TRUSTEES (OTHER THAN ADMINISTRATIVE DECISIONS) ARE SUBJECT TO REVIEW BY THE NATIONAL COUNCIL UPON TIMELY PETITION BY A MAJORITY OF NAIFA STATE CHAPTER PRESIDENTS. THE NATIONAL COUNCIL IS COMPRISED OF PARTICIPATING ACTIVE MEMBERS OF NAIFA. FORM 990, PART VI, SECTION B, LINE 11B NAIFA'S FEDERAL FORM 990 IS PREPARED BY ITS AUDITORS. THE DRAFT VERSION OF THE FEDERAL FORM 990 IS REVIEWED BY THE VP OF FINANCE, THE COO, AND THE CEO. PRIOR TO THE FILING DATE, THE MEMBERS OF THE FINANCE COMMITTEE ARE SENT AN ELECTRONIC COPY OF THE DRAFT FORM 990 FOR INDIVIDUAL REVIEW. IF DISCUSSIONS BETWEEN THE FINANCE COMMITTEE MEMBERS ARE NEEDED, THEY PARTICIPATE IN A CONFERENCE CALL. BEFORE FILING WITH THE INTERNAL REVENUE SERVICE, A FINAL VERSION OF THE DRAFT FORM 990 IS DISTRIBUTED TO THE MEMBERS OF THE NAIFA BOARD. FORM 990, PART VI, SECTION B, LINE 12C THE NAIFA CONFLICT-OF-INTEREST POLICY AND DISCLOSURE FORM, WHICH COVERS THE NAIFA BOARD OF TRUSTEES, IS EXPLAINED AND DISTRIBUTED TO THE NAIFA BOARD ANNUALLY AT ITS FIRST MEETING, AND THE DISCLOSURE FORM IS COMPLETED BY THE BOARD MEMBERS AT THAT TIME. BOARD MEMBERS ARE REMINDED OF THE POLICY AT THE BEGINNING OF EACH BOARD MEETING. NAIFA BOARD MEMBERS HAVE A CONTINUING OBLIGATION TO PROMPTLY DISCLOSE TO THE BOARD IF A POTENTIAL, APPARENT, OR ACTUAL CONFLICT OF INTEREST ARISES AND, IF REQUIRED, TO REMOVE HIMSELF/HERSELF FROM NAIFA BOARD'S DISCUSSIONS AND DECISIONS CONCERNING THE MATTER AND TO TAKE SUCH OTHER ACTIONS AS MAY BE CALLED FOR BY THE BOARD. IT IS THE NAIFA BOARD'S OBLIGATION TO CONSIDER EACH MATTER BROUGHT TO ITS ATTENTION UNDER THE CONFLICT-OF-INTEREST POLICY AND TO ADVISE THE BOARD MEMBERS INVOLVED AS TO THE APPROPRIATE ACTION. NAIFA BOARD MEMBERS MAY SUBMIT QUESTIONS REGARDING THE CONFLICT-OF-INTEREST POLICY TO NAIFA'S GENERAL COUNSEL. THE CONFLICT-OF-INTEREST POLICY CONTAINED IN THE NAIFA EMPLOYEE HANDBOOK COVERS ALL NAIFA EMPLOYEES AND REQUIRES EMPLOYEES TO IMMEDIATELY NOTIFY THEIR SUPERVISORS OF A POTENTIAL CONFLICT OF INTEREST. NAIFA MANAGEMENT RESERVES THE RIGHT TO PROHIBIT ANY ACTIVITY THAT MAY CONSTITUTE A CONFLICT OF INTEREST AND EMPLOYERS WHO PARTICIPATE IN PRACTICES THAT CONSTITUTE A PROHIBITED CONFLICT OF INTEREST ARE SUBJECT TO DISCIPLINARY ACTION. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION OF THE NAIFA CEO WAS DETERMINED AND APPROVED BY THE NAIFA EXECUTIVE COMMITTEE, WHICH WAS AUTHORIZED TO EXERCISE THE POWERS OF THE NAIFA BOARD OF TRUSTEES, IN CONSULTATION WITH NAIFA'S COO AND NAIFA'S VICE PRESIDENT OF FINANCE. THE NAIFA EXECUTIVE COMMITTEE WAS PROVIDED WITH DATA AS TO COMPARABLE COMPENSATION FOR SIMILARLY QUALIFIED PERSONS IN FUNCTIONALLY COMPARABLE POSITIONS AT SIMILARLY SITUATED ORGANIZATIONS AND DETERMINED THE CEO'S COMPENSATION THROUGH NEGOTIATIONS WITH THE CEO AND THROUGH ANNUAL ADJUSTMENTS TIED TO PERFORMANCE EVALUATIONS. NAIFA MAINTAINS CONTEMPORANEOUS DOCUMENTATION AND RECORDKEEPING WITH RESPECT TO THE DELIBERATIONS AND DECISIONS REGARDING THE COMPENSATION ARRANGEMENT. THE PROCESS FOR DETERMINING THE COMPENSATION FOR NAIFA STAFF OFFICERS AND KEY EMPLOYEES VARIES AND HAS INCLUDED THE USE OF COMPARABILITY DATA, NEGOTIATIONS WITH PROSPECTIVE EMPLOYEES, AND ANNUAL ADJUSTMENTS TIED TO PERFORMANCE EVALUATIONS. THE NAIFA BOARD OF TRUSTEES APPROVES SUCH COMPENSATION AS PART OF ITS APPROVAL OF THE NAIFA ANNUAL BUDGET, UPON A RECOMMENDATION FROM THE NAIFA FINANCE COMMITTEE, AND MINUTES ARE TAKEN OF THOSE DECISIONS. FORM 990, PART VI, SECTION C, LINE 19 REQUESTS FOR FINANCIAL STATEMENTS, GOVERNING DOCUMENTS AND THE CONFLICT OF INTEREST POLICY WILL BE CONSIDERED AND MAY BE MADE AVAILABLE UPON REQUEST. NAIFA PAC 2901 TELESTAR COURT FALLS CHURCH VA 22042 520899774 POLITICAL FUNDRAISING DC 527 N/A NAIFA 1 NAIFA FOUNDATION FOR FINANCIAL SECURITY 2901 TELESTAR COURT FALLS CHURCH VA 22042 851912913 FUNDRAISING DC 501(C)(3) LINE 7 NAIFA 1 NAIFA SERVICE CORPORATION 2901 TELESTAR COURT FALLS CHURCH VA 22042 521985466 PUBLISHING - DISSOLVED SEPTEMBER 2022 DC NAIFA C 17329 1.00000 1 1 1 0 0 0 0 0 0 0 0 0 1 0 0 1 0 1 0 0 NAIFA SERVICE CORPORTATION A 13717 FMV NAIFA PAC B 146400 CASH NAIFA SERVICE CORPORTATION L 67324 FMV NAIFA SERVICE CORPORTATION O 54670 FMV NAIFA SERVICE CORPORTATION Q 80987 FMV