2024-05-14T11:04:29-05:00 2023-06-30 470900880 CALIBRE CPA GROUP PLLC 7501 WISCONSIN AVENUE SUITE 1200 WEST BETHESDA MD 20814 990 2022-07-01 830211970 NATIONAL ASSOCIATION OF STUDENT FINANCIAL AID ADMINISTRATORS NATI 2027850453 1801 PENNSYLVANIA AVE NW 850 WASHINGTON DC 20006 JUSTIN DRAEGER PRESIDENT AND CEO 2027850453 2024-05-13 1 JUSTIN DRAEGER XXX-XX-XXXX 1 KRISTIN A JACQUELIN CPA P01325865 2023319880 2024-05-14 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z JUSTIN DRAEGER 1801 PENNSYLVANIA AVE NW 850 WASHINGTON DC 20006 11250168 0 X WWW.NASFAA.ORG X 1973 DC DEVELOPMENT FOR FINANCIAL AID ADMINISTRATORS; ADVOCATES FOR PUBLIC POLICIES THAT INCREASE STUDENT ACCESS AND SUCCESS; SERVES AS A FORUM ON STUDENT FINANCIAL AID ISSUES, AND IS COMMITTED TO DIVERSITY THROUGHOUT ALL ACTIVITIES. 18 18 52 488 409023 108807 1921791 944511 8440323 9032211 582465 737167 736989 370200 11681568 11084089 0 0 0 0 4871242 5609893 0 0 0 4106945 4325764 8978187 9935657 2703381 1148432 20879146 25889664 7118710 10637505 13760436 15252159 DEVELOPMENT FOR FINANCIAL AID ADMINISTRATORS; ADVOCATES FOR PUBLIC POLICIES THAT INCREASE STUDENT ACCESS AND SUCCESS; SERVES AS A FORUM ON STUDENT FINANCIAL AID ISSUES, AND IS COMMITTED TO DIVERSITY THROUGHOUT ALL ACTIVITIES. 0 0 7166393 8317224 MEMBERSHIP SERVICES:THIS IS THE UMBRELLA FOR A VARIETY OF INITIATIVES FOCUSED ON MEETING NASFAA'S STRATEGIC INITIATIVE OF PROVIDING PROACTIVE EDUCATION OPPORTUNITIES AND RESEARCH INFORMATION. IT ALSO PROVIDES FOR TRAVEL, MEALS AND LODGING FOR THE VARIOUS VOLUNTEER COMMITTEES AND BOARDS, PRINTING AND MAILING OF PUBLICATIONS INCLUDING A MAGAZINE. 719675 BOARD DESIGNATED FUND EXPENSES:OPERATING RESERVE FUND - THIS FUND HAS BEEN ESTABLISHED TO MEET UNUSUAL INCOME SHORT-FALLS, OR TO HELP PROPERLY TERMINATE OPERATIONS IF THE ASSOCIATION WERE DISSOLVED.PROJECT DEVELOPMENT FUND - THIS FUND HAS BEEN ESTABLISHED TO HELP FUND NEW INITIATIVES AND DEVELOPMENT OF NEW PROGRAMS.STRATEGIC TECHNOLOGY FUND - THIS FUND WAS ESTABLISHED TO UNDERWRITE NEW TECHNOLOGY INITIATIVES AND INVEST IN TECHNOLOGY UPGRADES. 70783 GRANTS: RECEIVED ARE USED FOR VARIOUS INITIATIVE SUCH AS EDUCATING THE PUBLIC, COLLEAGUES, AND CONGRESSIONAL MEMBERS ABOUT RELEVANT TOPICS IN FEDERAL STUDENT AID THROUGH RESEARCH AND ADVOCACY WORK. 409943 409943 8366794 1 1 0 0 0 0 0 0 0 1 1 1 0 1 1 1 0 1 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 1 29 0 1 52 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 18 18 0 0 0 0 1 1 1 1 0 0 0 1 1 1 1 1 1 1 1 1 1 DC X ELIZABETH MAGLIONE BOARD SECRETARY 2027850453 1801 PENNSYLVANIA AVE NW NO 850 WASHINGTON DC 20006 JUSTIN DRAEGER PRESIDENT/CEO 40.00 X 390770 0 69909 ELIZABETH MAGLIONE SECRETARY/EXECUTIVE VICE P 40.00 X 160970 0 38188 MINDY ELINE VICE PRESIDENT 40.00 X 142200 0 42340 ANTHONY ERWIN PRINCIPAL CONSULTANT 40.00 X 183028 0 20476 DANA KELLY VICE PRESIDENT 40.00 X 137406 0 34789 KAREN MCCARTHY VICE PRESIDENT 40.00 X 130847 0 34848 TAMMY HARRISON SR. BUSINESS DEVELOPMENT MGR 40.00 X 130686 0 28918 1275907 0 269468 16 0 1 0 LEVY RESTAURANTS AUSTIN CONVENTION CENTER 500 E CES AUSTIN TX 78701 FOOD & BEVERAGE AT 2022 NATIONAL CONFERE 333378 MODERN SIGNAL LLC PO BOX 16380 BALTIMORE MD 21210 WEB DESIGN 7 DATABASE DEVELOPMENT 257526 CORDIA PARTNERS LLC 8330 BOONE BLVD SUITE 350 VIENNA VA 22182 OUTSOURCED ACCOUNTING 230655 COMPLETE NETWORK INTEGRATION INC 4805 LAKE BROOK DRIVE SUITE 150 GLEN ALLEN VA 23060 OUTSOURCED IT SERVICES 200345 MAC PRODUCTIONS INC 252 PIKE STREET COVINGTON KY 41011 AUDIO/VISUAL SERVICES AT THE 2022 NATION 178216 6 667396 277115 944511 MEMBERSHIP DUES 900099 5599326 5599326 CONFERENCE 900099 2783163 2068176 714987 PROFESSIONAL DEVELOPMENT 900099 608826 608826 SERVICES CONTRACTS & OT 900099 40896 40896 9032211 415086 38823 376263 488160 166079 322081 322081 322081 WEBSITE ADVERTISING 900004 370200 370200 370200 11084089 8317224 409023 1413331 719158 487894 231264 3564630 3218607 346023 512705 450396 62309 432195 381394 50801 381205 325900 55305 28015 11000 17015 27700 27700 65758 35098 30660 588266 313983 274283 44688 43902 786 144845 133649 11196 588955 587997 958 571732 489445 82287 1134765 901725 233040 149225 139726 9499 31447 27044 4403 EQUIPMENT 534987 534009 978 BANK & MERCHANT FEES 167329 127103 40226 ALL OTHER EXPENSES 145678 120575 25103 TAXES 54985 0 54985 47389 37347 10042 9935657 8366794 1568863 0 5601 8766 5195976 5933562 440132 584830 220800 183662 3816604 3104223 613422 712381 9586548 11193121 4015770 3947078 800897 3326264 20879146 25889664 1116066 1347922 4319215 5048093 1683429 4241490 7118710 10637505 X 13404171 14911713 356265 340446 13760436 15252159 20879146 25889664 X 1148432 33339 309952 X X 0 1 X 1 0 X 5402374 5654694 6662395 1921791 944511 20585765 3720554 1726297 2091389 8763169 8317224 24618633 9122928 7380991 8753784 10684960 9261735 45204398 0 0 0 45204398 262396 252175 200515 631224 376263 1722573 92876 120530 208676 254171 108807 785060 355272 372705 409191 885395 485070 2507633 9478200 7753696 9162975 11570355 9746805 47712031 0.94740 0.94450 0.05260 0.05550 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 1 0 PART II-B, LINE 1: MEET DIRECTLY WITH CONGRESSIONAL STAFF TO AMEND BILLS TO A WAY THAT IS FAVORABLE TO NASFAA MEMBER INSTITUTIONS, STUDENTS, AND FAMILIES. SENT LETTERS TO SENATE AND HOUSE OF LEADERSHIP RELATED TO SPECIFIC FUNDING AND AUTHORIZING PROVISIONS THAT NEED TO BE ADDRESSED/AMENDED/CORRECTED IN WAY THAT WOULD MAKE THEM FAVORABLE TO NASFAA MEMBER INSTITUTIONS, STUDENT, AND FAMILIES. MEET WITH DEPARTMENT OF EDUCATION AND WHITE HOUSE OFFICIALS TO LOBBY FOR SPECIFIC NASFAA POLICY PROPOSALS AND RELATED IMPLEMENTATION EFFORTS. 6471537 106555 407738 6170354 6729138 372946 630547 6471537 6778852 820555 870269 6729138 7631729 15932 868809 6778852 7364634 1511104 1244009 7631729 1.00000 0 0 725981 373074 352907 3090623 2731149 359474 712381 INVESTMENT IN SUBSIDIARY - BLUE ICON ADVISORS, LLC 159002 F TREASURY BILLS 2730982 F INVESTMENTS HELD AT NAV 1057094 F 3947078 DEFERRED COMPENSATION 96703 DUE FROM RELATED PARTY - BLUE ICON ADVISORS, LLC 515403 RIGHT OF USE ASSET 2714158 3326264 DEFERRED COMPENSATION 96703 LEASE LIABILITY 4144787 4241490 X PART V, LINE 4: THE ASSOCIATION HAS DESIGNATED CERTAIN NET ASSETS FOR SPECIFIC PURPOSES. AMOUNTS DESIGNATED MAY BE EXTENDED, ADJUSTED OR DESIGNATED AT THE DISCRETION OF THE BOARD OF DIRECTORS. PART X, LINE 2: INCOME TAXES - NASFAA IS GENERALLY EXEMPT FROM FEDERAL INCOME TAXES UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC). IN ADDITION, NASFAA QUALIFIES FOR CHARITABLE CONTRUBUTION DEDUCTIONS AND HAS BEEN CLASSIFIED AS AN ORGANIZATION THAT IS NOT A PRIVATE FOUNDATION. UNDER CURRENT INTERNAL REVENUE SERVICE (IRS) REGULATIONS, ADVERTISING REVENUE EARNED IN THE PUBLICATIONS IS SUBJECT TO UNRELATED BUSINESS INCOME TAX. FOR THE YEAR ENDED JUNE 30, 2023, NASFAA HAD $90,097 INCOME TAX EXPENSE ON UNRELATED BUSINESS INCOME. NASFAA HAD PREPAID APPROXIMATELY $42,400 FOR FEDERAL AND LOCAL TAXES DURING THE YEAR ENDED JUNE 30, 2013, AND AFTER THE AFOREMENTIONED TAXES DUE IN 2023, $63,600 WAS REMAINING AND INCLUDED IN PREPAID EXPENSES AND DEPOSITS ON THE CONSOLIDATED STATEMENT OF FINANCIAL POSITION AT JUNE 30, 2023. MANAGEMENT EVALUATED THE ASSOCIATION'S TAX POSITIONS AND CONCLUDED THAT THE ASSOCIATION HAS TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE CONSOLIDATION FINANCIAL STATEMENTS TO COMPLY WITH PROVISIONS OF THIS GUIDANCE. GENERALLY, THE ASSOCIATION IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY THE U.S. FEDERAL, STATE OR LOCAL TAX AUTHORITIES FOR YEARS BEFORE 2019. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 1057094 0 0 0 0 0 0 1057094 0 1057094 0 0 0 0 0 0 PART III ACCOUNTING METHOD: X X X X 0 0 0 0 0 0 0 1 0 JUSTIN DRAEGER PRESIDENT/CEO 390470 0 0 0 300 0 36600 0 33309 0 460679 0 0 0 ANTHONY ERWIN PRINCIPAL CONSULTANT 181167 0 1530 0 331 0 17939 0 2537 0 203504 0 0 0 ELIZABETH MAGLIONE SECRETARY/EXECUTIVE VICE P 155548 0 5049 0 373 0 20575 0 17613 0 199158 0 0 0 MINDY ELINE VICE PRESIDENT 136468 0 4743 0 989 0 19328 0 23012 0 184540 0 0 0 DANA KELLY VICE PRESIDENT 132351 0 4192 0 863 0 17382 0 17407 0 172195 0 0 0 KAREN MCCARTHY VICE PRESIDENT 126334 0 4050 0 463 0 16404 0 18444 0 165695 0 0 0 TAMMY HARRISON SR. BUSINESS DEVELOPMENT MGR 128220 0 2000 0 466 0 10631 0 18287 0 159604 0 0 0 PART I, LINE 7 NASFAA PAID MERIT-BASED BONUSES TO ITS EMPLOYEES, INCLUDING THE PRESIDENT AND EXECUTIVE VICE PRESIDENT, WHO ARE LISTED ON PART VII DURING CALENDAR YEAR 2023. THESE AMOUNTS WERE NOT CONTINGENT ON THE EARNINGS OR REVENUE OF THE ORGANIZATION OR A RELATED ORGANIZATION. FORM 990, PART VI, SECTION A, LINE 6 NASFAA HAS MEMBERS, AS DEFINED BY OUR BYLAWS. NASFAA HAS TWO CLASSES OF MEMBERS, NAMELY INSTITUTIONAL MEMBERS (VOTING) AND ASSOCIATE MEMBERS (NON-VOTING). INSTITUTIONAL MEMBERS INCLUDE MORE THAN 2,800 POST-SECONDARY SCHOOLS. NON-VOTING ASSOCIATE MEMBERS INCLUDE APPROXIMATELY 160 ORGANIZATIONS THAT SUPPORT OR PROMOTE STUDENT FINANCIAL AID OR PROVIDE SERVICES TO SCHOOLS OR STUDENTS AND EXHIBIT AT NASFAA'S ANNUAL CONFERENCE. FORM 990, PART VI, SECTION A, LINE 7A USING AN ONLINE FORM, NASFAA MEMBERS MAY NOMINATE COLLEAGUES WHO QUALIFY FOR POSITIONS ON THE NASFAA BOARD OF DIRECTORS, SUCH AS REPRESENTATIVES-AT-LARGE OR AS THE NATIONAL CHAIR. MEMBERS MAY ALSO BE NOMINATED TO SERVE ON THE NOMINATIONS AND ELECTIONS COMMITTEE. THE NOMINATIONS AND ELECTIONS COMMITTEE REVIEWS ALL NOMINATIONS AND PREPARES A SLATE OF CANDIDATES FOR THE ASSOCIATION'S ELECTIONS. ELECTIONS ARE HELD IN THE SPRING FOR THE UPCOMING FISCAL YEAR. TERMS OF APPOINTMENT VARY BY POSITION. FORM 990, PART VI, SECTION A, LINE 7B THE ONLY DECISION OF THE BOARD THAT REQUIRED MEMBER RATIFICATION IS AN UPDATE OF ARTICLES OF INCORPORATION. FORM 990, PART VI, SECTION A, LINE 8B NO COMMITTEE IS AUTHORIZED TO ACT ON BEHALF OF THE GOVERNING BODY WITHOUT THE EXPRESS CONSENT OF THE BOARD OF DIRECTORS. DURING SUCH INSTANCES, MINUTES ARE KEPT TO DOCUMENT ACTIONS TAKEN. FORM 990, PART VI, SECTION B, LINE 11B UPON COMPLETION OF THE ANNUAL AUDIT, AN INDEPENDENT OUTSIDE TAX ACCOUNTANT PREPARES THE FORM 990 THAT IS REVIEWED BY THE FINANCIAL AFFAIRS COMMITTEE AND MADE AVAILABLE TO THE BOARD OF DIRECTORS, THEN SIGNED BY THE PRESIDENT & CEO AND SUBMITTED TO THE APPROPRIATE TAXING AGENCIES AND ANY OTHER ENTITIES REQUIRING A COPY (STATE SOLICITATION REGISTRATION AGENCIES, ETC.). FORM 990, PART VI, SECTION B, LINE 12C AT THE START OF EACH NEW BOARD YEAR (EACH JULY), ALL BOARD MEMBERS-NOT JUST NEW MEMBERS-ARE REQUIRED TO READ AND SIGN THE CONFLICT OF INTEREST POLICY. ANY POTENTIAL CONFLICTS LISTED ON THOSE FORMS ARE SUBMITTED TO THE NATIONAL CHAIR FOR REVIEW. THE ENTIRE LIST OF DECLARED CONFLICTS IS ALSO SHARED WITH THE ENTIRE BOARD. FOLLOW UP WITH INDIVIDUAL DIRECTORS IS DONE AS NEEDED, IF THE DISCLOSED CONFLICTS HAVE THE POTENTIAL TO PLACE THE ASSOCIATION AT RISK. BOARD POLICY STATES THAT IF ANY NEW CONFLICTS ARISE DURING THE YEAR, THE MEMBER MUST INFORM THE CHAIR PROMPTLY. FORM 990, PART VI, SECTION B, LINE 15 UNLESS OTHERWISE REQUESTED BY THE BOARD OF DIRECTORS ("BOARD"), THE THREE PRESIDING OFFICERS OF THE ASSOCIATION (THE NATIONAL CHAIRS) WILL WORK WITH NASFAA LEGAL COUNSEL IN DRAFTING, CHANGING AND SIGNING A CONTRACT WITH THE CEO. COMPENSATION GUIDELINES ARE NORMALLY OUTLINED IN THE EMPLOYMENT CONTRACT AND ULTIMATELY DETERMINED BY THE NATIONAL CHAIRS AFTER SEEKING APPROPRIATE INPUT FROM THE BOARD AND EXAMINING INDUSTRY SALARY AND BENEFIT BENCHMARKS. THE ENTIRE BOARD SHALL BE APPRISED OF THE CHAIR'S FORMAL EVALUATION NEAR THE END OF EACH FISCAL YEAR. INDIVIDUAL BOARD MEMBERS WITH QUESTIONS REGARDING PROVISIONS OF THE CONTACT OR EXECUTIVE COMPENSATION ARE WELCOME TO DISCUSS THESE ITEMS PRIVATELY WITH A MEMBER OF THE TRIUMVIRATE. FORM 990, PART VI, SECTION C, LINE 19 NASFAA'S GOVERNING DOCUMENTS AND AUDITED FINANCIAL ARE AVAILABLE TO NASFAA MEMBERS (LOG IN REQUIRED) ON THEIR WEBSITE PORTAL. FORM 990, PART XI, LINE 9: EARNINGS OF SUBSIDIARY 309,952. FORM 990, PART XII, LINE 2C: THE BY-LAWS OF THE ASSOCIATION STATE THAT THE ASSOCIATION'S FINANCES SHALL BE AUDITED AT THE CONCLUSION OF EACH OF THE ASSOCIATION'S FISCAL YEARS AT THE DIRECTION OF THE BOARD OF DIRECTORS. BLUE ICON ADVISORS LLC 1801 PENNSYLVANIA AVE STE 850 WASHINGTON DC 20006 352663143 CONSULTING SERVICES DC NATIONAL ASSOCIATION OF STUDENT FINANCIAL AID ADMINISTRATORS AND SUBSIDIARY C 2838024 1385862 1.00000 0 1 0 0 1 0 0 0 0 0 0 0 0 0 1 1 0 1 1 1 BLUE ICON ADVISORS A 40896 COST BLUE ICON ADVISORS D 515403 COST