2024-09-20T15:27:15-05:00 2023-12-31 420714325 RSM US LLP 919 EAST MAIN STREET SUITE 1800 RICHMOND VA 23219 990 2023-01-01 521081024 INDEPENDENT SECTOR INDE 2024676100 1602 L STREET NW 900 WASHINGTON DC 20036 RICK ROBINSON CHIEF OPERATING OFFICER 2024676100 2024-09-20 1 0 MEREDITH BELL P01696827 8042822121 2024-09-20 2023 2024-08-08 14:25:15Z DR AKILAH WATKINS 1602 L STREET NW 900 WASHINGTON DC 20036 6360077 0 X WWW.INDEPENDENTSECTOR.ORG X 1980 DC WE ENVISION A WORLD OF ENGAGED INDIVIDUALS, ROBUST INSTITUTIONS, AND VIBRANT COMMUNITIES WORKING TOGETHER TO IMPROVE LIVES AND THE NATURAL WORLD AND STRENGTHEN DEMOCRATIC SOCIETIES. TO HELP CREATE THIS FUTURE, WE LEAD AND CATALYZE THE CHARITABLE COMMUNITY, PARTNERING WITH GOVERNMENT, BUSINESS, AND INDIVIDUALS TO ADVANCE THE COMMON GOOD. 16 15 39 145 -40637 0 4963916 5107014 92335 191735 894473 297045 -458916 -84556 5491808 5511238 100 0 0 0 5005329 4513697 0 0 569475 4867782 4751865 9873211 9265562 -4381403 -3754324 29783681 26442547 9154088 8910699 20629593 17531848 X WE ENVISION A WORLD OF ENGAGED INDIVIDUALS, ROBUST INSTITUTIONS, AND VIBRANT COMMUNITIES WORKING TOGETHER TO IMPROVE LIVES AND THE NATURAL WORLD, AND STRENGTHEN DEMOCRATIC SOCIETIES. TO HELP CREATE THIS FUTURE, WE LEAD AND CATALYZE THE CHARITABLE COMMUNITY, PARTNERING WITH GOVERNMENT, BUSINESS, AND INDIVIDUALS TO ADVANCE THE COMMON GOOD. 0 0 2409136 183235 COMMUNITY BUILDING:AT THE HEART OF INDEPENDENT SECTOR'S WORK TO CREATE A HEALTHY AND RACIALLY EQUITABLE NATION WHERE ALL PEOPLE CAN THRIVE IS OUR BELIEF IN THE TRANSFORMATIONAL POWER OF BUILDING AND SUSTAINING COMMUNITY. THROUGH INTENTIONAL AND TARGETED STRATEGIES, INDEPENDENT SECTOR BUILDS A SENSE OF COMMUNITY AMONG LEADERS, PROVIDES OPPORTUNITIES TO BUILD CAPACITY, AND STRENGTHENS BRIDGES AND TRUSTED RELATIONSHIPS TO ENSURE CHARITABLE SECTOR LEADERS, ORGANIZATIONS, AND COMMUNITIES ARE ALIGNED TOWARD A HEALTHY AND EQUITABLE FUTURE.IN 2023, WE MAINTAINED AND DEEPENED OUR CONNECTIONS WITH CHANGEMAKERS ACROSS THE COUNTRY, ENGAGING THEM IN UPSWELL EVENTS, A NATIONAL LISTENING TOUR AND OUR FELLOWSHIP PROGRAMS.WE CONDUCTED 7 LISTENING TOUR EVENTS DURING 2023, ENGAGING NONPROFIT AND PHILANTHROPY LEADERS IN MAJOR CITIES ACROSS THE COUNTRY IN INTENTIONAL CONVERSATIONS TO GIVE US A CLEARER SENSE OF THE CHALLENGES LEADERS ARE FACING IN THEIR WORK AND COMMUNITIES SO THAT OUR COMMUNITY BUILDING AND OTHER PROGRAM CAN BE RESPONSIVE TO THESE CHALLENGES. WE HELD OUR FIRST IN-PERSON UPSWELL SUMMIT SINCE 2019 IN DALLAS/FT. WORTH IN NOVEMBER 2023, BRINGING TOGETHER OVER 800 LEADERS FROM ACROSS THE SECTOR TO SHARE INSIGHTS AND CHALLENGES, GAIN INSPIRATION AND LEARNINGS FROM NATIONAL AND LOCAL LEADERS IN THE CHARITABLE SECTOR AND INCREASE THE STRENGTH OF NETWORKS. WE ALSO HELD TWO VIRTUAL UPSWELL POP-UPS DURING THE YEAR FOCUSED ON KEY CONVERSATIONS THAT ARE IMPERATIVE TO CREATING A RACIALLY JUST NATION. EACH EMPHASIZED THE WELLBEING AND SELF-CARE OF CHANGEMAKERS AND COMMUNITIES; BRIDGING DIFFERENCES TOWARD JUSTICE AND BELONGING; AND TRANSFORMING AND CHANGING SYSTEMS THROUGH ADVOCACY AND NARRATIVE CHANGE. WE INCLUDED UPSWELL EXCHANGES AS PART OF OUR UPSWELL POP-UPS TO GIVE CHANGEMAKERS THE OPPORTUNITY TO UNPACK IMMEDIATELY WHAT THEY HEARD DURING POP-UP PRESENTATIONS, SHARE THEIR THOUGHTS, AND CONNECT THROUGH DEEPER RELATIONSHIPS WITH ONE ANOTHER.INDEPENDENT SECTOR CONTINUED TWO FELLOWS PROGRAMS WITH A PRIMARY FOCUS ON ENABLING PARTICIPATING FELLOWS TO EXPAND THEIR NETWORKS, GAIN NEW KNOWLEDGE, CONTRIBUTE THEIR PERSPECTIVES, AND INSTILL A RENEWED COMMITMENT TO SERVING THEIR COMMUNITIES. WE CONCLUDED OUR TWO-YEAR BRIDGING FELLOWS PROGRAM AT THE END OF 2023, WHICH BROUGHT TOGETHER 40 FELLOWS FROM PITTSBURGH, DALLAS AND CHICAGO TO SOCIALIZE AND EMBED BRIDGING AS A CORE COMPETENCY IN THEIR ORGANIZATIONS AND COMMUNITIES. THE PROGRAM FOCUSES ON SPECIFIC AREAS OF SOCIETAL DIVISION, INCLUDING IDEOLOGICAL, RACIAL, SOCIOECONOMIC, AND GEOGRAPHICAL.WE CONTINUE TO SUPPORT THE FULL CHARITABLE COMMUNITY THROUGH VARIOUS COMMUNICATIONS EFFORTS TO KEEP LEADERS INFORMED OF AND CONNECTED TO IMPORTANT NEWS, TRENDS AND EVENTS, INCLUDING WAYS THAT THEY CAN ENGAGE. 1358139 PUBLIC POLICY LEADERSHIP:INDEPENDENT SECTOR'S PUBLIC POLICY LEADERSHIP ACTIVITIES ARE FOCUSED ON RESEARCH, POLICY DEVELOPMENT, ANALYSIS, AND ADVOCACY EFFORTS TO ENSURE A HEALTHY, TRUSTED AND EQUITABLE NONPROFIT SECTOR. IN 2023, WE CONTINUED TO ADDRESS CONCERNS ABOUT DECLINING CHARITABLE GIVING THROUGH PASSAGE OF LEGISLATION THAT WOULD CREATE A UNIVERSAL CHARITABLE DEDUCTION. WE CONTINUED TO EDUCATE AND MOBILIZE SECTOR LEADERS AND ADVOCATES ON THIS POLICY INITIATIVE AND HELD A CONVENING FOR THE WHITE HOUSE TO DEEPEN THEIR UNDERSTANDING OF THIS NEED AND LEGISLATIVE REMEDY. WE ALSO CONTINUED TO ADVANCE OUR BI-PARTISAN SEAT AT THE TABLE LEGISLATION IN THE US HOUSE OF REPRESENTATIVES THAT WOULD ENSURE THE VOICE AND EXPERTISE OF THE NONPROFIT CHARITABLE SECTOR HAD PERMANENT REPRESENTATION WITHIN THE EXECUTIVE BRANCH OF THE FEDERAL GOVERNMENT. WE ALSO BEGAN EXPLORATION OF A LEGISLATIVE INITIATIVE TO MAKE CERTAIN THAT NONPROFIT EMPLOYERS ARE ELIGIBLE FOR THE SAME TAX INCENTIVES AS THEIR FOR-PROFIT PEERS FOR INVESTMENT IN THEIR WORKFORCE THRU THE CREATION OF RETIREMENT PLANS AND FACILITY-BASED CHILDCARE. IN 2023 WE ALSO RELEASED THE RESEARCH REPORT, THE RETREAT OF INFLUENCE, THAT SHARED EXTENSIVE SURVEY DATA AND ANALYSIS, COMMISSIONED BY INDEPENDENT SECTOR, ON ADVOCACY PRACTICES IN THE NONPROFIT SECTOR. THESE AND ADDITIONAL RESEARCH FINDINGS TO BE COMPLETED IN 2023 WILL ALLOW US TO SHAPE MORE EFFECTIVE TOOLS AND TRAINING TO ENSURE NONPROFITS ARE INFORMED AND ACTIVE ADVOCATES. FINALLY, INDEPENDENT SECTOR'S PUBLIC POLICY PRIORITIES AND ADVOCACY EFFORTS ARE ADVANCED BY THE NONPROFIT INFRASTRUCTURE COALITION, A GROUP OF APPROXIMATELY 50 ORGANIZATIONS FROM ACROSS THE SECTOR, THAT ARE ALIGNED WITH THE CORE POLICY AIMS OF IS. THE COALITION IS CO-LED WITH KABOOM! THE 2023 RESEARCH ACTIVITIES OF INDEPENDENT SECTOR FOCUSED ON TWO ANCHORING RESEARCH PROGRAMS. THE FIRST IS THE HEALTH OF THE US NONPROFIT SECTOR ANNUAL REPORT, WHICH WAS RELEASED IN 2023/Q4. THIS ANNUAL REPORT GATHERS THE BEST POSSIBLE, AND MOST TIMELY, DATA ON THE HEALTH OF THE NONPROFIT SECTOR, SPECIFICALLY LOOKING AT G=FOUR CORE ASPECTS OF HEALTH: (1) FINANCES; (2) HUMAN CAPITAL; (3) TRUST AND GOVERNANCE; (4) POLICY ADVOCACY. DATA FINDINGS AND ANALYSIS IN THE REPORT ARE THEN USED TO INFORM THE POLICY AND PRACTICE INTERVENTIONS NEEDED TO BUILD HEALTH IN ANY OF THOSE GIVEN AREAS. WHILE MUCH OF THE RESEARCH/DATA INCLUDED IN THE HEALTH REPORT IS GATHERED FROM OTHER SOURCES, IS DOES COMMISSION ORIGINAL SURVEY RESEARCH EACH YEAR ON PUBLIC TRUST IN NONPROFITS AND PHILANTHROPY, CONDUCTED IN PARTNERSHIP WITH EDELMAN DATA AND INTELLIGENCE. TRUST SURVEY FINDINGS IN 2023 INDICATED SEVERAL CONCERNING AREAS OF DECLINE IN PUBLIC TRUST THAT CONTINUE TO SHAPE OUR EFFORTS REVERSE THOSE TRENDS. OUR SECOND MOST SIGNIFICANT BODY OF RESEARCH, ALSO COMMISSIONED BY INDEPENDENT SECTOR, EXAMINES ADVOCACY ACTIVITIES BY NONPROFITS. THE QUANTITATIVE STUDY, RELEASED IN 2023, INDICATED CONCERNING AND DOWNWARD TRENDS IN POLICY ADVOCACY BY NONPROFIT ORGANIZATIONS. ALSO LAUNCHED IN 2023, AND TO BE DELIVERED IN 2024, IS A COMPLEMENTARY QUALITATIVE STUDY THAT WILL HELP US UNDERSTAND WHAT IS HAPPENING UNDERNEATH THE QUANTITATIVE DATA DELIVERED IN 2023. ALL OF THIS WORK, TRUE TO IS PRACTICE, IS THEN INTENDED TO SHAPE A SERIES OF TOOLS, TRAININGS, AND OTHER INTERVENTIONS NEEDED TO ENSURE THAT NONPROFIT ORGANIZATIONS UNDERSTAND THE LAWS WHICH GOVERN THEIR ADVOCACY AND LOBBYING EFFORTS AND ARE ACTIVE AND EFFECTIVE ADVOCATES WITHIN THOSE LEGAL PARAMETERS. 1016381 8500 ACCELERATING SECTOR HEALTH:WORKING IN COLLABORATION WITH MEMBERS AND OTHER PARTNERS, INDEPENDENT SECTOR CREATES, CURATES, AND DISSEMINATES KNOWLEDGE DESIGNED TO HELP ORGANIZATIONS RESPOND TO CHALLENGES AND OPPORTUNITIES, INCREASE THEIR EFFECTIVENESS, AND FULFILL THEIR MISSIONS. COVID-19 PRESENTED NEW OPPORTUNITIES FOR US TO CURATE AND DISTRIBUTE RESOURCES RAPIDLY AND HAVE EVOLVED FROM RESPONDING TO THE CRISIS AND TO HELPING ORGANIZATIONS MANAGE THEIR "NEW NORMAL": INDEPENDENT SECTOR, IN PARTNERSHIP WITH EDELMAN DATA & INTELLIGENCE, RELEASED OUR SECOND ANNUAL "TRUST IN CIVIL SOCIETY" REPORT, IN MAY 2021, OF SURVEY FINDINGS THAT EXPLORE THE NUANCES OF TRUST IN AMERICAN NONPROFIT AND PHILANTHROPIC ORGANIZATIONS. BUILDING ON INDEPENDENT SECTOR'S FOUR DECADES OF BRINGING TOGETHER THE CHARITABLE COMMUNITY FOR THE COMMON GOOD AND EDELMAN'S EXPERIENCE STUDYING TRUST IN BOTH THE GLOBAL AND U.S. CONTEXT, WE CONDUCTED TWO NATIONAL SURVEYS, TOTALING 8,000 AMERICAN ADULTS, TO ASSESS GENERAL POPULATION TRUST IN PHILANTHROPY AND NONPROFITS AND UNCOVER THE FACTORS THAT DRIVE TRUST IN THE SECTOR. AN IMPORTANT LEARNING FROM THE RESEARCH OVER THREE YEARS SHOWS NONPROFITS DEMONSTRATING IMPACT IS KEY TO BUILDING TRUST, BUT IT MAY NOT BE SUFFICIENT BY ITSELF IF BROADER ECONOMIC BARRIERS EXIST. INDEPENDENT SECTOR, WITH THE DO GOOD INSTITUTE AT THE UNIVERSITY OF MARYLAND, ANNOUNCED ON APRIL 18, 2022 THAT THE LATEST VALUE OF A VOLUNTEER HOUR IS ESTIMATED TO BE $29.95, WHICH IS A 4.9% INCREASE FROM 2020 TO 2021. ESTIMATED FROM DATA COLLECTED IN 2020, THE FIGURE SHOWS THE VALUABLE CONTRIBUTIONS VOLUNTEERS MAKE TO SUPPORT OUR COMMUNITIES AND COUNTRY. THIS DATA IS THE MOST VISITED PART OF THE INDEPENDENT SECTOR WEBSITE BECAUSE IT HELPS NONPROFITS QUANTIFY THE IMPACT OF VOLUNTEER ENGAGEMENT FOR FUNDERS, PARTNERS, AND THE PUBLIC. INDEPENDENT SECTOR RELEASED HEALTH OF THE U.S. NONPROFIT SECTOR QUARTERLY REVIEWS IN MARCH, JUNE, AND SEPTEMBER, AND DECEMBER. THESE REPORTS COMPLEMENT THE 2021 HEALTH OF THE U.S. NONPROFIT SECTOR ANNUAL REPORT AND PROVIDE INDEPENDENT SECTOR RECOMMENDATIONS AND ANALYSIS OF RECENTLY RELEASED DATA ON THE SECTOR'S ECONOMIC CONTRIBUTION, CHARITABLE GIVING TRENDS, AND CHARACTERISTICS OF SECTOR EMPLOYMENT. 1687202 MEMBERSHIP AND COMMUNICATIONS SERVICES:INDEPENDENT SECTOR PROVIDES COMMUNICATIONS AND OTHER SERVICES TO SUPPORT ITS MEMBERSHIP SPECIFICALLY AND NON-PROFIT SECTOR LEADERS MORE BROADLY. THESE SERVICES INCLUDE MEMBER ENGAGEMENT THROUGH EVENTS, BOTH VIRTUAL AND IN PERSON, WHERE INSIGHTS AND PERSPECTIVES ON TOPICS RELEVANT TO THE SECTOR ARE SHARED. IN ADDITION, WE PRODUCE A SET OF COMMUNICATION PRODUCTS THAT LIFT UP LEADING WORK IN THE SECTOR, INCLUDING OUR OWN, TO KEEP SECTOR LEADERS BETTER INFORMED OF AND CONNECTED TO IMPORTANT ACTIVITIES HAPPENING ACROSS THE SECTOR AT A NATIONAL LEVEL. THESE PRODUCTS HIGHLIGHT, AMONG OTHER THINGS, RELEVANT CONVENINGS, RESEARCH, PROGRAM EFFORTS AND OTHER ACTIVITIES THAT MAY BE BENEFICIAL. THESE ACTIVITIES ACT TO RAISE AWARENESS AND UNDERSTANDING AND SUPPORT STRONGER NETWORKS ACROSS SECTOR LEADERS AND THEIR ORGANIZATIONS. 1687202 6470858 1 1 0 1 0 0 0 0 0 1 1 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 88 0 1 39 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 16 15 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 0 0 AK AZ CA CO CT DC FL GA HI IL KS KY MA MD ME MI MS MN NC NH NM NY OH OK PA RI SC TN UT VA WA WI X X RICK ROBINSON 2024676100 1602 L STREET NW 900 WASHINGTON DC 20036 AKILAH WATKINS PRESIDENT & CHIEF EXECUTIVE OFFICER 38.00 X X 529607 0 72058 FRED BLACKWELL BOARD OF DIRECTOR, CHAIRMAN 1.00 X X 0 0 0 SARAH KASTELIC BOARD OF DIRECTOR, VICE CHAIRMAN 1.00 X X 0 0 0 DR MICHAEL MCAFEE BOARD OF DIRECTOR, SECRETARY 1.00 X X 0 0 0 JENNIFER FORD REEDY BOARD OF DIRECTOR, TREASURER 1.00 X X 0 0 0 PHOEBE BOYER BOARD OF DIRECTOR, AT LARGE 1.00 X 0 0 0 REV ADAM RUSSELL TAYLOR BOARD OF DIRECTOR 1.00 X 0 0 0 ANN MEI CHANG BOARD OF DIRECTOR 1.00 X 0 0 0 HILLARY PENNINGTON BOARD OF DIRECTOR 1.00 X 0 0 0 JANINE LEE BOARD OF DIRECTOR 1.00 X 0 0 0 DR JOHN BROTHERS BOARD OF DIRECTOR 1.00 X 0 0 0 JULIE GEHRKI BOARD OF DIRECTOR 1.00 X 0 0 0 LYSA RATLIFF BOARD OF DIRECTOR 1.00 X 0 0 0 DR MANUEL PASTOR BOARD OF DIRECTOR 1.00 X 0 0 0 SONYA CAMPION BOARD OF DIRECTOR 1.00 X 0 0 0 SUZANNE MCCORMICK BOARD OF DIRECTOR 1.00 X 0 0 0 RICK ROBINSON CHIEF OPERATING OFFICER 38.00 X 301760 0 43324 JEFF MOORE CHIEF STRATEGY OFFICER 38.00 X 254541 0 41389 KRISTINA GAWGRY CHIEF MKTG & COMM OFFICER THRU 6/2023 38.00 X 136004 0 25008 BENJAMIN KERSHAW DIR, PUBLIC POLICY & GOV'T RELATIONS 38.00 X 145054 0 11074 ELYSE HARRINGTON DIRECTOR OPERATIONS 38.00 X 143990 0 15791 HABIB MALLOUM BAKO SR. DIR, COMMUNITY BLDG THRU 9/2023 38.00 X 134367 0 21938 RASHIDA MCCOY DIR, STRATEGIC MKTG & DIGITAL ENGAGEMENT 38.00 X 131440 0 16375 DANIEL J CARDINALI FORMER PRESIDENT & CEO 0.00 X 126087 0 0 1902850 0 246957 11 1 1 0 NONPROFIT HR SOLUTIONS 1441 L STREET NW SUITE 620 WASHINGTON DC 20005 HR CONSULTING 382984 ERNST & YOUNG US LLP WASHINGTON COUNCIL 1101 NEW YORK AVE NW 4TH FL WASHINGTON DC 20005 LEGAL CONSULTING 300000 ROBERT HALF CONSULTING 12400 COLLECTIONS CENTER DRIVE CHICAGO IL 60693 TEMPORARY STAFFING AGENCY 297338 OSI BEYOND LLC 11921 ROCKVILLE PIKE SUITE 210 ROCKVILLE MD 20852 TECHNOLOGY SERVICES 154759 EDELMAN INTELLIGENCE 111 NORTH CANAL STREET SUITE 1100 CHICAGO IL 60606 RESEARCH CONSULTANTS 139000 6 1245730 3861284 20000 5107014 CONFERENCE FEES 900004 183235 170485 12750 PUBLICATION SALES 900099 8500 8500 191735 297045 297045 945 945 711726 848839 -137113 -137113 -67546 -69567 PARKING SERVICES 812930 26909 26909 SUBLEASE INCOME 900099 24703 24703 51612 5511238 178985 -40637 265876 X 1250853 687617 444062 119174 126087 126087 2500331 1443791 806310 250230 149084 81954 52926 14204 218153 119923 77446 20784 269189 147978 95564 25647 58125 58125 48928 48928 33637 33637 2278024 1449334 790441 38249 52969 52969 831728 345799 484473 1456 61519 21315 40063 141 -29766 500845 -603506 72895 381686 314235 59629 7822 482156 396950 75324 9882 86446 86446 100395 20133 80021 241 OTHER EXPENSES 237348 237348 DUES & SUBSCRIPTIONS 108670 21792 86617 261 IN-KIND EXPENSES 20000 4011 15941 48 ALLOCATED OVERHEAD 0 862212 -870653 8441 9265562 6470858 2225229 569475 534 534 3542668 1026259 166000 927980 47565 150286 131792 111544 2840717 2817691 84736 23026 9302713 7892310 16507673 16310608 29783681 26442547 852099 1172365 8060228 7641448 241761 96886 9154088 8910699 X 17687748 15583787 2941845 1948061 20629593 17531848 29783681 26442547 -3754324 656579 0 X 0 1 X 1 0 X 7668893 15035402 7836995 4963916 5107014 40612220 7668893 15035402 7836995 4963916 5107014 40612220 9796924 30815296 852517 839782 662040 1389270 1009716 4753325 45365545 1175062 0.67930 0.69860 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 28279 28279 10080764 10109043 655452 163863 0 0 495275 609299 704636 655452 2464662 3696993 11524 27892 31947 28279 99642 123819 152325 176159 163863 616166 924249 7155192 789430 2262000 5682622 8950733 -1479494 316047 7155192 8346107 913655 309029 8950733 7722558 899333 275784 8346107 6639801 1336571 253814 7722558 1.00000 0 0 52548 51828 720 2788169 2765863 22306 23026 DEFERRED RENT RECEIVABLE 189898 DEFERRED LEASE INCENTIVES 64749 DEPOSITS 20130 LEASING COMMISSION COSTS, NET 36363 DEFERRED COMPENSATION 22168 ASSET HELD FOR SALE 15977300 16310608 DEFERRED COMPENSATION PLAN LIABILITY 22168 DEPOSITS HELD IN ESCROW 74718 96886 6956110 656579 656579 6299531 33637 -821930 -788293 5511238 10053855 821930 821930 9231925 33637 33637 9265562 PART V, LINE 4: THE UNRESTRICTED NET ASSETS OF INDEPENDENT SECTOR ARE REPORTED AS UNDESIGNATED AND BOARD DESIGNATED NET ASSETS. UNRESTRICTED NET ASSETS REPRESENT THE PORTION OF EXPENDABLE FUNDS THAT IS AVAILABLE TO SUPPORT THE OPERATIONS OF INDEPENDENT SECTOR, WHILE BOARD DESIGNATED NET ASSETS REPRESENT A PORTION OF UNRESTRICTED NET ASSETS FOR DESIGNATED PURPOSES AND CONSISTS OF A SHORT-TERM BUILDING OPERATING FUND AND A LONG-TERM RESERVE FUND WHICH WAS CREATED TO ESTABLISH A CORPUS FOR WHICH INVESTMENT INCOME WILL BE USED FOR GENERAL OPERATIONS. AS OF DECEMBER 31, 2023, BOARD DESIGNATED NET ASSETS INCLUDED $500,000 IN THE SHORT-TERM BUILDING OPERATING FUND AND $4,769,404 IN THE LONG-TERM RESERVE FUND. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES REPORTED ON LINE 6B -848,839. PARKING SERVICE REVENUE REPORTED ON LINE 11 26,909. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES REPORTED ON LINE 6B 848,839. PARKING SERVICE REVENUE REPORTED ON LINE 11 -26,909. X X X X X 1 0 0 0 0 0 0 0 0 AKILAH WATKINS PRESIDENT & CHIEF EXECUTIVE OFFICER 529209 0 0 0 398 0 43000 0 31158 0 603765 0 0 0 RICK ROBINSON CHIEF OPERATING OFFICER 300470 0 0 0 1290 0 22210 0 23731 0 347701 0 0 0 JEFF MOORE CHIEF STRATEGY OFFICER 252561 0 0 0 1980 0 19402 0 25444 0 299387 0 0 0 KRISTINA GAWGRY CHIEF MKTG & COMM OFFICER THRU 6/202 135869 0 0 0 135 0 18588 0 9497 0 164089 0 0 0 ELYSE HARRINGTON DIRECTOR OPERATIONS 143731 0 0 0 259 0 9716 0 7641 0 161347 0 0 0 BENJAMIN KERSHAW DIR, PUBLIC POLICY & GOV'T RELATIONS 144760 0 0 0 294 0 11074 0 3543 0 159671 0 0 0 HABIB MALLOUM BAKO SR. DIR, COMMUNITY BLDG THRU 9/2023 134136 0 0 0 231 0 10363 0 12565 0 157295 0 0 0 DANIEL J CARDINALI FORMER PRESIDENT & CEO 0 0 0 0 126087 0 0 0 0 0 126087 0 126087 0 A DISTRICT OF COLUMBIA 566001131 2013-06-04 11600000 TO REFINANCE PURCHASE OF HEADQUARTERS BUILDING 0 0 0 A 3923446 11600000 11600000 2013 1 0 1 1 A 1 0 0 0 0.00000 0.00000 0.00000 0 0 0 A 0 0 0 1 0 0 0 0 0 A 1 FORM 990, PART VI, SECTION A, LINE 6 INDEPENDENT SECTOR HAS MEMBERS THAT HELP SUPPORT THE MISSION OF THE ORGANIZATION. FORM 990, PART VI, SECTION A, LINE 7A THERE IS ONLY ONE CLASS OF VOTING MEMBERS. THE MEMBERSHIP HAVE THE AUTHORITY TO ELECT DIRECTORS OF THE ORGANIZATION OTHER THAN THE PRESIDENT. FORM 990, PART VI, SECTION A, LINE 7B THE MEMBERSHIP HAVE THE AUTHORITY TO APPROVE CHANGES IN THE ARTICLES OF INCORPORATION AND BY-LAWS, MEMBERSHIP DUES AND/OR DUES ASSESSMENT METHODOLOGY, MEMBERSHIP ELIGIBILITY CRITERIA, AFFIRM MAJOR POLICIES AND LEGISLATIVE ACTIONS BY THE BOARD, AS APPROPRIATE, AND ADOPT RESOLUTIONS ON NATIONAL ISSUES OF CONCERNS TO THE MEMBERSHIP, AS APPROPRIATE. FORM 990, PART VI, SECTION B, LINE 11B PRIOR TO FILING, THE FORM 990 IS PRESENTED TO INDEPENDENT SECTOR'S AUDIT COMMITTEE FOR REVIEW. THE CHIEF OPERATING OFFICER ALSO REVIEWS THE FORM 990 IN DETAIL WITH THE PRESIDENT AND CHIEF EXECUTIVE OFFICER PRIOR TO OBTAINING THE CEO'S SIGNATURE ON THE DOCUMENT. THE FORM 990 IS ALSO PRESENTED TO THE FULL BOARD OF DIRECTORS FOR REVIEW IN ADVANCE OF FILING. IT IS DISTRIBUTED IN ADVANCE OF THE BOARD MEETING IN ORDER TO ENSURE THAT DIRECTORS HAVE THE OPPORTUNITY FOR A MEANINGFUL REVIEW AND TO ALLOW ALL DIRECTORS THE OPPORTUNITY TO GAIN A FULL UNDERSTANDING OF THE DOCUMENT BEFORE IT IS FILED. INDEPENDENT SECTOR'S AUDITORS PARTICIPATE IN THE BOARD MEETING IN ORDER TO RESPOND TO ANY QUESTIONS THAT DIRECTORS MAY HAVE. FORM 990, PART VI, SECTION B, LINE 12C EACH YEAR, BOARD MEMBERS ARE ASKED TO REVIEW INDEPENDENT SECTOR'S CONFLICT OF INTEREST POLICY AND TO COMPLETE A CONFLICT OF INTEREST DISCLOSURE STATEMENT. AMONG OTHER THINGS, THE POLICY MAKES CLEAR THAT ALL DECISIONS OF THE BOARD, OFFICERS AND EMPLOYEES OF INDEPENDENT SECTOR ARE TO BE MADE SOLELY ON THE BASIS OF A DESIRE TO PROMOTE THE BEST INTERESTS OF THE ORGANIZATION AND THE PUBLIC GOOD. THE DISCLOSURE STATEMENT, IN TURN, REQUESTS THAT DIRECTORS IDENTIFY, TO THE BEST OF THEIR KNOWLEDGE, AFFILIATIONS WITH ORGANIZATIONS THAT MAY BE POTENTIALLY RELATED TO THE FINANCIAL OR OTHER SUBSTANTIVE OPERATIONS OF INDEPENDENT SECTOR. THEY ARE ALSO ASKED TO IDENTIFY CIRCUMSTANCES INVOLVING EITHER THEMSELVES, OR A MEMBER OF THEIR EXTENDED FAMILY, THAT MAY BE CONSTRUED AS A CONFLICT OF INTEREST. IF SUCH CIRCUMSTANCE SHOULD ARISE SUBSEQUENT TO SUBMITTING THE DISCLOSURE STATEMENT, THE POLICY SETS FORTH AN ONGOING DISCLOSURE REQUIREMENT. AT THE STAFF LEVEL, INDEPENDENT SECTOR PERSONNEL ALSO ENSURE THAT THERE ARE NO CONFLICTS OF INTEREST WHEN CONSIDERING ENGAGEMENT OF A NEW VENDOR. IF A POTENTIAL CONFLICT IS IDENTIFIED, APPROPRIATE STEPS ARE TAKEN BOTH TO ASSESS THE NATURE OF THE POTENTIAL CONFLICT AND, SUBSEQUENTLY, TO ENSURE THAT THE POSSIBILITY OF AN ACTUAL CONFLICT IS MITIGATED. SUCH MITIGATION MAY BE ACHIEVED THROUGH THE RECUSAL OR FIREWALLING OF THE INDIVIDUAL IN QUESTION, THUS ENSURING THAT THE CONFLICT IS MANAGED AND THE LETTER AND SPIRIT OF THE CONFLICTS POLICY ARE UPHELD. IN ADDITION, WE NOTE THAT DURING THE ANNUAL AUDIT STAFF IDENTIFY AND DISCLOSE TO AUDITORS ALL KNOWN CONFLICTS OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15A APART FROM THE ORGANIZATION'S PRESIDENT AND CHIEF EXECUTIVE OFFICER, INDEPENDENT SECTOR'S BOARD OFFICERS (CHAIR, VICE CHAIR, SECRETARY, AND TREASURER) DO NOT RECEIVE COMPENSATION FROM THE ORGANIZATION. AN ANNUAL COMPENSATION REVIEW PROCESS FOR THE CEO TAKES PLACE UNDER THE LEADERSHIP OF THE BOARD CHAIR AND EXECUTIVE COMMITTEE. AN OUTSIDE CONSULTANT IS RETAINED OR SALARY SURVEYS AND 990S ARE REVIEWED TO PROVIDE INDUSTRY COMPARABLE SALARY DATA. AN INTERMEDIATE SANCTIONS ANALYSIS AND RELATED DOCUMENTATION ARE ALSO COMPLETED. THE EXECUTIVE COMMITTEE HAS RESPONSIBILITY FOR MAKING FINAL RECOMMENDATIONS TO THE FULL BOARD OF DIRECTORS REGARDING THE PRESIDENT'S PERFORMANCE EVALUATION AND COMPENSATION. THE BOARD OF DIRECTORS MAKES A FINAL DETERMINATION WITH REGARD TO THESE MATTERS. WITH REGARD TO STAFF COMPENSATION, THE PRESIDENT AND CEO, SENIOR LEADERSHIP TEAM, AND APPROPRIATE STAFF DIRECTORS ALSO COMPLETE ANNUAL PERFORMANCE EVALUATIONS. FOR ALL STAFF OTHER THAN THE PRESIDENT AND CEO, IS UTILIZES INDUSTRY COMPARABLE DATA IN MAKING DETERMINATIONS REGARDING THE RANGE OF SALARIES. THE PRESIDENT AND CEO MAKES ALL FINAL DETERMINATIONS RELATIVE TO STAFF COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 INDEPENDENT SECTOR'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC. THE ANNUAL AUDIT, 990 AND 990-T, BOARD OF DIRECTORS LIST, AND IS POLICIES (CONFLICT OF INTEREST, FINANCIAL RESPONSIBILITY, GIFTS AND ENTERTAINMENT, RECORDS RETENTION AND TRAVEL) ARE ALL AVAILABLE TO THE PUBLIC ON THE ORGANIZATION'S WEBSITE (WWW.INDEPENDENTSECTOR.ORG). FORM 990, PART IX, LINE 11G CONSULTANTS: PROGRAM SERVICE EXPENSES 999,929. MANAGEMENT AND GENERAL EXPENSES 529,470. FUNDRAISING EXPENSES 3,163. TOTAL EXPENSES 1,532,562. LEGISLATIVE ASSISTANCE: PROGRAM SERVICE EXPENSES 195,737. MANAGEMENT AND GENERAL EXPENSES 103,644. FUNDRAISING EXPENSES 619. TOTAL EXPENSES 300,000. SPEAKERS, SERVICE BUREAUS, AND OTHER: PROGRAM SERVICE EXPENSES 15,613. MANAGEMENT AND GENERAL EXPENSES 8,267. FUNDRAISING EXPENSES 49. TOTAL EXPENSES 23,929. TEMPORARY HELP: PROGRAM SERVICE EXPENSES 197,853. MANAGEMENT AND GENERAL EXPENSES 127,773. FUNDRAISING EXPENSES 34,291. TOTAL EXPENSES 359,917. HONORARIA: PROGRAM SERVICE EXPENSES 40,202. MANAGEMENT AND GENERAL EXPENSES 21,287. FUNDRAISING EXPENSES 127. TOTAL EXPENSES 61,616. 1620 IS LLC 1620 L STREET NW WASHINGTON DC 20036 543219877 BUILDING MANAGEMENT DC 1311726 16397566 INDEPENDENT SECTOR