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        <EOY>323087</EOY>
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        <EOY>375352</EOY>
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      <FollowSFAS117>X</FollowSFAS117>
      <UnrestrictedNetAssets>
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      <TotalNetAssetsFundBalances>
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        <EOY>394531</EOY>
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      <TotalLiabNetAssetsFundBalances>
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        <EOY>769883</EOY>
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      <ReconcilationRevenueExpenses>4553</ReconcilationRevenueExpenses>
      <ReconcilationOtherChanges>0</ReconcilationOtherChanges>
      <InfoInScheduleOPartXII>X</InfoInScheduleOPartXII>
      <MethodOfAccountingAccrual>X</MethodOfAccountingAccrual>
      <AccountantCompileOrReview>0</AccountantCompileOrReview>
      <FSAudited>1</FSAudited>
      <AuditCommittee>1</AuditCommittee>
      <FinancialStatementConsolidated>X</FinancialStatementConsolidated>
      <FederalGrantAuditRequired>0</FederalGrantAuditRequired>
    </IRS990>
    <IRS990ScheduleD documentId="RetDoc1040000001">
      <OtherLandBuildings>
        <OtherCostOrOtherBasis>3611</OtherCostOrOtherBasis>
        <Depreciation>3611</Depreciation>
        <BookValue>0</BookValue>
      </OtherLandBuildings>
      <TotalOfBookValueLandBuildings>0</TotalOfBookValueLandBuildings>
      <TotalRevenue>602566</TotalRevenue>
      <TotalExpenses>598013</TotalExpenses>
      <ExcessOrDeficitForYear>4553</ExcessOrDeficitForYear>
      <ExcessOrDeficitPerFS>4553</ExcessOrDeficitPerFS>
      <TotRevenueEtcAuditedFinclStmt>602566</TotRevenueEtcAuditedFinclStmt>
      <RevenueNotRptdF990>0</RevenueNotRptdF990>
      <RevenueSubtotal>602566</RevenueSubtotal>
      <RevenueNotRptdOnFinStmt>0</RevenueNotRptdOnFinStmt>
      <TotalRevenuePerForm990>602566</TotalRevenuePerForm990>
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      <ExpensesSubtotal>598013</ExpensesSubtotal>
      <ExpensesNotRptdOnFinStmt>0</ExpensesNotRptdOnFinStmt>
      <TotalExpensesPerForm990>598013</TotalExpensesPerForm990>
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        <Identifier>DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48:</Identifier>
        <ReturnReference>PART X:</ReturnReference>
        <Explanation>PART X, LINE 2: THE ASSOCIATION'S ADOPTION OF FIN 48/ASC 740 HAS NO MATERIAL IMPACT ON THE ASSOCIATION'S FINANCIAL POSITION OR RESULTS OF OPERATIONS.</Explanation>
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    </IRS990ScheduleD>
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      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION A, LINE 3</ReturnReference>
        <Explanation>SMITHBUCKLIN ACTS AS MANAGEMENT COMPANY FOR THE ASSOCIATION.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION A, LINE 6</ReturnReference>
        <Explanation>ASSOCIATION HAS MEMBERS WHO PAY DUES TO BE INVOLVED.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION A, LINE 7A</ReturnReference>
        <Explanation>MEMBERS WHO VOTE TO ELECT THE MEMBERS OF THE GOVERNING BODY.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION A, LINE 7B</ReturnReference>
        <Explanation>SEE NAIFA BYLAWS FOR FULL LIST OF BOARD DECISIONS THAT ARE SUBJECT TO APPROVAL OF THE MEMBERSHIP. (SOME INCLUDE ELECTIONS, REDUCTION/INCREASE IN THE SIZE OF THE GOVERNING BOARD.)</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION B, LINE 11</ReturnReference>
        <Explanation>FORM 990 REVIEWED AND APPROVED BY THE FISCAL COMMITTE AND THEN THE BOARD OF DIRECTORS.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION B, LINE 12C</ReturnReference>
        <Explanation>DISCLOSURE STATEMENT IS REQUIRED AT THE BEGINNING OF EACH YEAR AND ALSO AT THE OUTSET OF ANY NEW PROGRAM SERVICES.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION B, LINE 15</ReturnReference>
        <Explanation>ANNUAL CONTRACT REVIEW AND APPROVAL OF ALL BUDGETED MANAGEMENT AND VARIABLE SERVICE FEES BY THE BOARD OF DIRECTORS.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION C, LINE 18</ReturnReference>
        <Explanation>AVAILABLE UPON REQUEST</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION C, LINE 19</ReturnReference>
        <Explanation>AVAILABLE UPON REQUEST</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART XII, LINE 2C</ReturnReference>
        <Explanation>THE PROCESS IS THE SAME AS THE PREVIOUS YEAR.</Explanation>
      </GeneralExplanation>
    </IRS990ScheduleO>
    <IRS990ScheduleR documentId="RetDoc1043400001">
      <Form990ScheduleRPartII>
        <NameOfDisregardedEntity>
          <BusinessNameLine1>NAIFA EDUCATION AND RESEARCH TRUST</BusinessNameLine1>
        </NameOfDisregardedEntity>
        <AddressUS>
          <AddressLine1>401 N MICHIGAN AVE</AddressLine1>
          <City>CHICAGO</City>
          <State>IL</State>
          <ZIPCode>60611</ZIPCode>
        </AddressUS>
        <EIN>431136868</EIN>
        <PrimaryActivities>EDUCATION</PrimaryActivities>
        <LegalDomicileState>IL</LegalDomicileState>
        <ExemptCodeSection>501 C 3</ExemptCodeSection>
        <PublicCharityStatus>509 A 1</PublicCharityStatus>
        <ControlledOrg>0</ControlledOrg>
      </Form990ScheduleRPartII>
      <ReceiptOfIntAnnRentsRoyalties>0</ReceiptOfIntAnnRentsRoyalties>
      <GiftGrantOrCapContrToOtherOrg>0</GiftGrantOrCapContrToOtherOrg>
      <GiftGrantOrCapContrFrOtherOrg>0</GiftGrantOrCapContrFrOtherOrg>
      <LoansOrGuaranteesToOtherOrg>0</LoansOrGuaranteesToOtherOrg>
      <LoansOrGuaranteesFromOtherOrg>0</LoansOrGuaranteesFromOtherOrg>
      <SaleOfAssetsToOtherOrg>0</SaleOfAssetsToOtherOrg>
      <PurchaseOfAssetsFromOtherOrg>0</PurchaseOfAssetsFromOtherOrg>
      <ExchangeOfAssets>0</ExchangeOfAssets>
      <RentalOfFacilitiesToOtherOrgs>0</RentalOfFacilitiesToOtherOrgs>
      <RentalOfFacilitiesFrOtherOrgs>0</RentalOfFacilitiesFrOtherOrgs>
      <PerformOfServicesForOtherOrgs>0</PerformOfServicesForOtherOrgs>
      <PerformOfServicesByOtherOrgs>0</PerformOfServicesByOtherOrgs>
      <SharingOfFacilities>0</SharingOfFacilities>
      <SharingOfPaidEmployees>0</SharingOfPaidEmployees>
      <ReimbursementPaidToOtherOrg>0</ReimbursementPaidToOtherOrg>
      <ReimbursementPaidByOtherOrg>0</ReimbursementPaidByOtherOrg>
      <OtherTransferToOtherOrg>0</OtherTransferToOtherOrg>
      <OtherTransferFromOtherOrg>0</OtherTransferFromOtherOrg>
    </IRS990ScheduleR>
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