2024-05-15T11:27:56-05:00 2023-06-30 410746749 CLIFTONLARSONALLEN LLP 901 NORTH GLEBE ROAD SUITE 200 ARLINGTON VA 22203 990 2022-07-01 522086855 NATIONAL BUSINESS OFFICERS ASSOCIATION INC NATI 2024077140 1400 I STREET NW 675 WASHINGTON DC 20005 JEFFREY SHIELDS PRESIDENT & CHIEF EXECUTIVE OFFICER 2024077140 2024-05-14 1 JEFFREY SHIELDS XXX-XX-XXXX 0 ROBERT WILLIAMS P01345960 5712279500 2024-05-14 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z JEFFREY SHIELDS 1400 I STREET NW 675 WASHINGTON DC 20005 8340412 0 X WWW.NBOA.ORG X 1998 MD NBOA DEVELOPS, DELIVERS, AND PROMOTES BEST BUSINESS PRACTICES TO ADVANCE INDEPENDENT SCHOOLS. 21 20 20 113 193788 0 487610 715926 5482805 6376419 186845 128878 94271 142879 6251531 7364102 0 0 0 0 3014828 3075922 0 0 97967 2795397 3720587 5810225 6796509 441306 567593 9775215 11578662 3313742 4221554 6461473 7357108 X NATIONAL BUSINESS OFFICERS ASSOCIATION (NBOA) DEVELOPS, DELIVERS AND PROMOTES BEST BUSINESS PRACTICES TO ADVANCE INDEPENDENT SCHOOLS AND PROVIDES EXCELLENCE IN EDUCATION SUPPORTED BY WORLD-CLASS BUSINESS OPERATIONS. 0 0 2447306 4195020 MEMBER SERVICES: ASSISTS 1,500+ MEMBERS STREAMLINE BUSINESS AND STRATEGIC OPERATIONS THROUGH INFORMATION SHARING, EDUCATION, RESEARCH, ENHANCED COMMUNICATIONS, AND A POOLED PURCHASING PROGRAM AND MEMBER SAVINGS PROGRAMS. 2097187 1987611 PROGRAMS AND EVENTS: PROVIDES ITS MEMBERS PROFESSIONAL DEVELOPMENT, INFORMATION EXCHANGE, AND NETWORKING ACTIVITIES. PARTICIPANTS LEARN FROM INDUSTRY EXPERTS, DISCOVER CUTTING-EDGE SOLUTIONS AND EXCEPTIONAL BEST PRACTICES. ATTENDEES MAY EARN CPE, SHRM, AND HRCI CREDITS FOR PARTICIPATION. 482884 52076 PUBLICATIONS: NBOA'S PUBLICATIONS (INCLUDING THE PRINT MAGAZINE "NET ASSETS", E-NEWSLETTER "NET ASSETS NOW AND WEB PAGE "NETASSETS.ORG") OFFER PRACTICAL, RELEVANT GUIDANCE TO KEY COMPONENTS OF THE BUSINESS OFFICE AND SOUND, COMPREHENSIVE BUSINESS-OFFICE PRACTICES IN KEY FINANCIAL AND OPERATIONAL AREAS, REGULATORY COMPLIANCE, FINANCIAL REPORTING, TECHNOLOGY AND ENVIRONMENTAL SUSTAINABILITY. 163818 MEMBER DEVELOPMENT: PROVIDES MEMBERS WITH AN EXTENSIVE RANGE OF RESOURCES THROUGH ITS WEBSITE, INCLUDING A VIRTUAL LIBRARY WITH MORE THAN 500 TEMPLATES, FORMS AND WHITE PAPERS RELATED TO BUSINESS OFFICE OPERATIONS AND BEST PRACTICES; MEMBER FORUMS; AND ONLINE MEMBER DIRECTORY. 163818 5191195 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 42 0 20 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 21 20 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X JEFFREY SHIELDS PRESIDENT AND CEO 2024077140 1400 I ST NW 675 WASHINGTON DC 20003 JEFFREY SHIELDS PRESIDENT AND CEO 40.00 X X 462031 0 77553 ROSE NEUBERT BOARD CHAIR 8.00 X X 0 0 0 DUNCAN BOOTH BOARD CHAIR-ELECT 8.00 X X 0 0 0 ANN MARIE TIDONA TREASURER 8.00 X X 0 0 0 JOE CARTER SECRETARY 8.00 X X 0 0 0 TOM ARNOLD DIRECTOR 3.00 X 0 0 0 LAUREL BAKER-TEW DIRECTOR 3.00 X 0 0 0 RICK BRANSON DIRECTOR 3.00 X 0 0 0 JAMES COOPER DIRECTOR 3.00 X 0 0 0 LINDA DENNISON DIRECTOR 3.00 X 0 0 0 MICHAEL EBELING DIRECTOR 3.00 X 0 0 0 JILL FIELDS DIRECTOR 3.00 X 0 0 0 ED GRIFFIN DIRECTOR 3.00 X 0 0 0 SUSAN LANSVERK DIRECTOR 3.00 X 0 0 0 MARK MITCHELL DIRECTOR 3.00 X 0 0 0 BETH POLLARD DIRECTOR 3.00 X 0 0 0 DEV TALVADKAR DIRECTOR 3.00 X 0 0 0 LISA TURCHAN DIRECTOR 3.00 X 0 0 0 KELLY GARNES-PAGES DIRECTOR 3.00 X 0 0 0 TERESA STANDARD DIRECTOR 3.00 X 0 0 0 WHITNEY WLATERS-SACHS DIRECTOR 3.00 X 0 0 0 JAMES PALMIERI EXECUTIVE VICE PRESIDENT 40.00 X 219120 0 38672 JENNIFER HILLEN CHIEF LEARNING OFFICER 40.00 X 187046 0 35138 IRENA REESE VP, FINANCE AND ADMINISTRATION 40.00 X 162762 0 31062 BRIAN GREEN SR. DIRECTOR, IT AND WEB SERVICES 40.00 X 125869 0 30256 ELIZABETH MAHER DIRECTOR, ACCOUNTING & TAX PROGRAMS 40.00 X 116006 0 13683 1272834 0 226364 11 0 1 0 0 272241 443685 715926 MEMBERSHIP DUES 541900 4195020 4195020 PROGRAMS & EVENTS 541900 1987611 1987611 ADVERTISING 541800 193788 193788 6376419 204811 204811 90803 90803 899129 975062 -75933 -75933 -75933 53324 1248 52076 52076 7364102 6234707 193788 219681 557473 473852 27874 55747 1984484 1704836 248917 30731 185979 159836 23862 2281 185254 159024 22205 4025 162732 139514 18035 5183 51293 51293 24336 24336 14426 14426 78742 78742 125970 125970 169521 826 168695 303162 184717 118445 226346 226346 120589 120589 1652313 1469215 183098 10 10 189375 117241 72134 26974 26974 RESEARCH 467934 346022 121912 MAGAZINE/E-NEWSLETTER/B 167020 167020 PROFESSIONAL DEVELOPMEN 43045 43045 USER FEES 10000 10000 49531 12533 36998 6796509 5191195 1507347 97967 1927362 2944205 1531460 2079983 158837 218137 136878 163229 463463 371063 167222 92400 5630484 5727009 203012 170890 19960 182809 9775215 11578662 278740 372213 2986530 3663933 48472 185408 3313742 4221554 X 6295973 7283703 165500 73405 6461473 7357108 9775215 11578662 567593 328042 0 X 0 1 X 1 0 X 345475 308560 315720 487610 715926 2173291 345475 308560 315720 487610 715926 2173291 477834 1695457 275751 224903 208423 180434 295614 1185125 47078 9667 6148 26289 0 89182 3447598 26743417 0.49180 0.40240 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 18765 17183 1582 412402 323688 88714 32296 30192 2104 92400 LEASE LIABILITY 185408 185408 X 7710330 328042 31364 1248 360654 7349676 14426 14426 7364102 6814695 31364 1248 32612 6782083 14426 14426 6796509 PART X, LINE 2: NBOA IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, QUALIFIES FOR THE CHARITABLE CONTRIBUTION DEDUCTION UNDER SECTION 170(B)(1)(A)(VI), AND HAS NOT BEEN CLASSIFIED AS A PRIVATE FOUNDATION BY THE INTERNAL REVENUE SERVICE UNDER SECTION 509(A). INCOME FROM ACTIVITIES NOT DIRECTLY RELATED TO NBOA'S TAX-EXEMPT PURPOSE IS SUBJECT TO TAXATION AS UNRELATED BUSINESS INCOME. FOR THE YEARS ENDED JUNE 30, 2023 AND 2022, NBOA INCURRED APPROXIMATELY $31,200 AND $-0- IN TAXES FOR UNRELATED TRADE OR BUSINESS INCOME, RESPECTIVELY. NBOA HAS EVALUATED ITS TAX POSITIONS AS OF JUNE 30, 2023 AND 2022, AND HAS DETERMINED THE POSITIONS ARE MORE LIKELY THAN NOT TO BE SUSTAINED UNDER EXAMINATION. NBOA IS NOT AWARE OF ANY ACTIVITIES THAT WOULD JEOPARDIZE ITS TAX-EXEMPT STATUS. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOOD SOLD FROM SALES OF INVENTORY 1,248. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD FROM SALES OF INVENTORY 1,248. X 1 1 X X X 0 0 0 0 0 0 0 1 0 JEFFREY SHIELDS PRESIDENT AND CEO 430031 0 20000 0 12000 0 51000 0 26553 0 539584 0 0 0 JAMES PALMIERI EXECUTIVE VICE PRESIDENT 209120 0 10000 0 0 0 22850 0 15822 0 257792 0 0 0 JENNIFER HILLEN CHIEF LEARNING OFFICER 182046 0 5000 0 0 0 19238 0 15900 0 222184 0 0 0 IRENA REESE VP, FINANCE AND ADMINISTRATION 157762 0 5000 0 0 0 16809 0 14253 0 193824 0 0 0 BRIAN GREEN SR. DIRECTOR, IT AND WEB SERVICES 120869 0 5000 0 0 0 13316 0 16940 0 156125 0 0 0 PART I, LINE 1A THE ASSOCIATION PROVIDES A MONTHLY WELLNESS REIMBURSEMENT OF $125 TO ALL STAFF; HEALTH CLUB DUES ARE AN ELIGIBLE WELLNESS REIMBURSEMENT EXPENSE. THE BENEFITS ARE INCLUDED IN THE RECIPIENTS' W-2. THE FOLLOWING INDIVIDUALS RECIEVED THOSE BENEFITS: JEFFREY SHIELDS - $1,500 JAMES PALMIERI - $1,422 JENNIFER HILLEN - $1,500 BRIAN GREEN - $1,038 ELIZABETH MAHER - $1,176 PART I, LINE 3 ON BEHALF OF THE BOARD OF DIRECTORS, THE BOARD CHAIR AND EXECUTIVE COMITTEE MEMBERS ENGAGE AN INDEPENDENT CONSULTANT TO EVALUATE THE PRESIDENT & CEO'S COMPENSATION. THE EVALUATION IS PERFORMED EVERY TWO YEARS AND UTILIZES COMPENSATION SURVEYS AS WELL AS COMPENSATION BENCHMARKING OF KEY EXECUTIVES OF SIMILAR ORGANIZATIONS. PART I, LINE 7 NON-FIXED PAYMENTS CONSISTED OF STAFF BONUSES, WHICH ARE DETERMINED BY THE CEO. THE CEO'S BONUS IS DETERMINED BY THE EXECUTIVE COMMITTEE. THE FOLLOWING INDIVIDUALS RECEIVED SUCH A NON-FIXED PAYMENT AS PART OF 2022 W-2 COMPENSATION JEFFREY SHIELDS - $20,000 JAMES PALMIERI - $10,000 IRENA REESE - $5,000 JENNIFER HILLEN - $5,000 BRIAN GREEN - $5,000 FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE OF THE BOARD SHALL CONSIST OF THE DULY ELECTED OR APPOINTED OFFICERS, AND UP TO TWO ADDITIONAL DIRECTORS APPOINTED BY THE CHAIR OF THE BOARD AND RATIFIED BY THE BOARD. THE EXECUTIVE COMMITTEE SHALL NORMALLY SERVE A TERM OF ONE YEAR. THE EXECUTIVE COMMITTEE, IN BETWEEN MEETINGS OF THE BOARD, SHALL HAVE AND EXERCISE THE AUTHORITY OF THE BOARD OF DIRECTORS IN THE MANAGEMENT OF NBOA, EXCEPT THAT SUCH COMMITTEE SHALL HAVE NO AUTHORITY TO AMEND, ALTER, OR REPEAL THE BYLAWS, TO ELECT, APPOINT OR REMOVE ANY DIRECTOR OR OFFICER OF NBOA, OR TO APPROVE ANY CHARTER DOCUMENT REQUIRED TO BE FILED WITH THE STATE DEPARTMENT OF ASSESSMENTS AND TAXATION OF MARYLAND. THE EXECUTIVE COMMITTEE SHALL HAVE THE AUTHORITY TO REVIEW AND RECOMMEND THE SALARY OF THE PRESIDENT AND CHIEF EXECUTIVE OFFICER OF NBOA. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM; THE DRAFT RETURN IS REVIEWED BY THE FINANCE AND AUDIT COMMITTEE, WHICH APPROVES SUBMISSION. THE FORM 990 IS PROVIDED ELECTRONICALLY TO THE FULL BOARD OF DIRECTORS FOR REVIEW PRIOR TO FILING. THE FULL BOARD OF DIRECTORS APPROVES THE FORM 990 FOR FILING. FORM 990, PART VI, SECTION B, LINE 12C EACH MEMBER OF THE BOARD OF DIRECTORS SIGNS A CONFLICT OF INTEREST STATEMENT ANNUALLY. THE GOVERNANCE COMMITTEE OF THE BOARD OF DIRECTORS REVIEWS THE CONFLICT OF INTEREST STATEMENTS TO DETERMINE IF THERE ARE POTENTIAL CONFLICTS. THE GOVERNANCE COMMITTEE CHAIR AND BOARD SECRETARY REPORTS ON FINDINGS OF THE REVIEW TO THE EXECUTIVE COMMITTEE AND THE FULL BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 15 ON BEHALF OF THE BOARD OF DIRECTORS, THE BOARD CHAIR ESTABLISHES THE INITIAL COMPENSATION OF THE PRESIDENT AND CHIEF EXECUTIVE OFFICER (CEO). THE BOARD OF DIRECTORS APPROVES THE APPOINTMENT, EMPLOYMENT, AND COMPENSATION OF THE PRESIDENT AND CEO, AND ENTERS INTO A WRITTEN EMPLOYMENT AGREEMENT WITH THE PRESIDENT AND CEO. COMPENSATION IS BASED ON THE COMPENSATION LEVELS OF KEY EXECUTIVES OF SIMILAR ORGANIZATIONS. THE AGREEMENT CURRENTLY IN FORCE WAS MADE IN 2020 AND IS REVIEWED ANNUALLY BY THE EXECUTIVE COMMITTEE. ANY INCREASE TO THE PRESIDENT AND CEO'S BASE COMPENSATION RESULTS FROM THE ANNUAL EVALUATION BY THE EXECUTIVE COMMITTEE, OF ACHIEVEMENT OF MUTUALLY AGREED GOALS AND OBJECTIVES, AND WILL BE SHARED WITH THE BOARD OF DIRECTORS. REVIEWS ARE CONDUCTED ANNUALLY IN ACCORDANCE WITH PROCEDURES ESTABLISHED BY THE EXECUTIVE COMMITTEE. THE EXECUTIVE COMMITTEE ADEQUATELY, AND CONCURRENTLY, DOCUMENTS THE BASIS FOR ITS DETERMINATION, AND THE COMPENSATION IT PAYS TO DISQUALIFIED PERSONS IS PRESUMED TO BE AT FAIR MARKET VALUE. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2023. COMPENSATION FOR OTHER KEY EMPLOYEES WAS ESTABLISHED BY INDEPENDENT PERSONS USING MARKET ANALYSIS DATA. THE BASIS FOR ANY DETERMINATION IS ADEQUATELY AND CONCURRENTLY DOCUMENTED, AND THE COMPENSATION PAID TO DISQUALIFIED PERSONS IS PRESUMED TO BE AT FAIR MARKET VALUE. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2023. FORM 990, PART VI, SECTION C, LINE 19 AT THE ORGANIZATION'S DISCRETION, IT MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. THE BYLAWS ARE ALSO POSTED ON THE NBOA'S WEBSITE.