2022-05-11T13:35:08-05:00 2021-12-31 521446779 JOHNSON LAMBERT LLP 4242 SIX FORKS ROAD SUITE 1500 RALEIGH NC 27609 990 2021-01-01 952642719 NATIONAL ASSOCIATION OF FEDERAL CREDIT UNIONS INC NATI 7035224770 3138 10TH ST NORTH 300 ARLINGTON VA 22201 B DAN BERGER PRESIDENT AND CEO 7035224770 2022-05-11 1 B DAN BERGER 999009999 J CALVIN MARKS P01226973 9197196400 0 AAL1 IAL1 2021 2022-09-23 18:48:47Z NAT'L ASSOC OF FED-INS CUS B DAN BERGER 3138 10TH ST NORTH 300 ARLINGTON VA 22201 37981107 0 X WWW.NAFCU.ORG X 1967 CA SEE SCHEDULE O 11 11 66 12 610956 43691 860566 1082111 14951434 17184240 384949 276116 297764 295436 16494713 18837903 147941 194520 0 0 11260917 11713376 0 0 0 4310015 5224941 15718873 17132837 775840 1705066 28427503 31185033 13237254 14307926 15190249 16877107 X TO STRENGTHEN CREDIT UNIONS BY PROVIDING THE BEST FEDERAL ADVOCACY, EDUCATION AND COMPLIANCE ASSISTANCE IN THE INDUSTRY. 0 0 MEMBERSHIP EDUCATIONAL CONFERENCES: NAFCU HOLDS AN ANNUAL CONFERENCE THAT ALLOWS MEMBERS TO LEARN ABOUT THE LATEST NEWS, ADVANCES IN TECHNOLOGY, AND INNOVATIVE PRODUCTS FOR CREDIT UNIONS. IN ADDITION, NAFCU HOLDS NUMEROUS OTHER EDUCATIONAL CONFERENCES DESIGNED TO EDUCATEMEMBERS ON MORE SPECIALIZED TOPICS. COMMUNICATIONS/LEGISLATIVE/REGULATORY/COMPLIANCE: KEEPS MEMBERS UP-TO-DATE ON ALL OF THE RULES AND LAWS GONVERNING CREDIT UNIONS AS WELL AS PROVIDING COMPLIANCE ASSISTANCE. PRODUCTS & SERVICES: INCLUDES THE NAFCU JOURNAL, A BI-MONTHLY PERIODICAL ABOUT TRENDS IN CREDIT UNIONS AND OTHER PUBLICATION SUCH AS THE WEEKLY UPDATE NEWSLETTER AND REGULATORY ALERTS PUBLISHED FOR MEMBERS. ALSO INCLUDED ARE VARIOUS TRAINING RESOURCES AVAILABLE TO BOTH MEMBERS AND THE GENERAL PUBLIC. 2021 ACCOMPLISHMENTSNAFCU PROVIDES THE INDUSTRY'S LEADING ACE - ADVOCACY, COMPLIANCE, AND EDUCATION - AS PART OF OUR COMMITMENT TO HELPING CREDIT UNIONS OVERCOME CHALLENGES INORDER TO THRIVE. WE ARE DEDICATED TO FIGHTING FOR EFFECTIVE REGULATION THAT SUPPORTS MEMBER OPERATIONS AND WE WORK HARD TO ENSURE POLICYMAKERS RECOGNIZE THEOVERWHELMING BENEFITS THE CREDIT UNION INDUSTRY OFFERS.NAFCU IS COMMITTED TO SECURING REGULATORY RELIEF AND FLEXIBILITY FOR CREDIT UNIONS AND IN 2021 THE INDUSTRY MADE GREAT STRIDES TOWARD OVERCOMING THE OPERATIONAL CHALLENGES AND ECONOMIC STRUGGLES AS A RESULT OF THE CORONAVIRUS PANDEMIC. OUR BOLD ADVOCACY STRATEGY SECURED SEVERAL LEGISLATIVE AND REGULATORY WINS THROUGHOUT 2021 TO ENSURE CREDIT UNIONS AND THEIR 130 MILLION MEMBERS WERE NOT PLAGUED WITH BURDENSOME ROADBLOCKS ON THE PATH TO CONTINUED SUCCESS.THROUGHOUT THE YEAR, WE LED EFFORTS TO OPPOSE SEVERAL BURDENSOME LEGISLATIVE PROPOSALS, AS WELL AS ENGAGE CONGRESS TO ADVANCE LEGISLATION TO HELP KEEP CREDITUNION MEMBERS SAFE. THE ASSOCIATION STAUNCHLY OPPOSED A PROPOSAL TO ENHANCE IRS ACCOUNT REPORTING, AS WELL AS A PROVISION TO GRANT THE SMALL BUSINESS ADMINISTRATION WITH ADDITIONAL DIRECT LENDING AUTHORITY.IN 2021, DIGITAL ASSETS TOOK CENTER STAGE AND THE ASSOCIATION WORKED WITH THE NCUA AND LAWMAKERS TO ENSURE CREDIT UNIONS WERE NOT EXCLUDED FROM FOUNDATIONAL FEDERAL DIGITAL ASSETS REGULATION AND LEGISLATION. NAFCU ALSO ENCOURAGED THE NCUA TO FOSTER STRONG FINTECH PARTNERSHIPS TO HELP CREDIT UNIONS PROVIDE THE PRODUCTS AND SERVICES THEIR MEMBERS WANT AND NEED, AND WE SUCCESSFULLY ADVOCATED FOR THE NCUA TO ACKNOWLEDGE THE AUTHORITY OF CREDIT UNIONS TO PARTNER WITH THIRD PARTY BROKER-DEALERS TO OFFER CERTAIN DIGITAL ASSETS SERVICES.AT NAFCU, THE ASSOCIATION'S REGULATORY COMPLIANCE TEAM ANSWERED NEARLY 7,000 QUESTIONS FROM MEMBERS VIA THE DIRECT COMPLIANCE ASSISTANCE PROGRAM AND PUBLISHED OVER 160 BLOG POSTS, ARTICLES, CHARTS, GUIDES AND TOOLS - TOTALING OVER 1,200 PAGES.TO PROVIDE OUR MEMBERS WITH THE INDUSTRY'S BEST EDUCATIONAL OPPORTUNITIES, OUR EDUCATION AND EVENTS TEAMS CURATED 13 VIRTUAL AND HYBRID CONFERENCES AND EVENTS FOR OUR MEMBERS. ADDITIONALLY, OUR ONLINE TRAINING CENTER SERVED MORE THAN 5,400 CREDIT UNION INDUSTRY PROFESSIONALS WHO STREAMED 18,000+ HOURS OF CONTENT. 0 1 1 1 0 0 0 0 0 1 0 0 0 1 0 1 1 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 1 1 0 1 39 0 1 66 1 1 1 0 0 0 1 1 0 1 0 X 11 11 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 CA X X NAFCUGREG JOHNS VP OF FINANCE 7038422831 3138 10TH ST NORTH ARLINGTON VA 22201 B DANIEL BERGER PRESIDENT/CEO 50.00 1.00 X 1161900 0 42467 ANTHONY DEMANGONE EVP/COO 50.00 1.00 X 486766 0 74948 CARRIE HUNT EVP, GOV'T AFFAIRS/GEN. COUNSEL (TO JUN '21) 50.00 1.00 X 302911 0 22552 CATHERINE PORTERFIELD VP. MEMBERSHIP & SALES 40.00 X 253565 0 33004 BRADFORD THALER VP, LEGISLATIVE AFFAIRS 40.00 X 241797 0 30647 BRANDY BRUYERE VP, REGULATORY COMPLIANCE (TO DEC '21) 40.00 X 240978 0 34269 GREGORY JOHNS VP, FINANCE 40.00 1.00 X 226385 0 28817 ANN KOSSACHEV VP, REGULATORY AFFAIRS 40.00 1.00 X 200666 0 26238 THOMAS W DEWITT CHAIR 1.00 1.00 X X 0 0 0 DEBRA SCHWARTZ CHAIR (TO JUL '21) 1.00 1.00 X X 0 0 0 GARY A GRINNELL VICE CHAIR 1.00 1.00 X X 0 0 0 BRIAN T SCHOOLS TREASURER 1.00 1.00 X X 0 0 0 KAREN C HARBIN SECRETARY 1.00 1.00 X X 0 0 0 MELANIE KENNEDY DIRECTOR 1.00 X 0 0 0 JAMES A KENYON DIRECTOR 1.00 X 0 0 0 FRANK MANCINI DIRECTOR (FROM JUL '21) 1.00 X 0 0 0 LONNIE NICHOLSON DIRECTOR 1.00 X 0 0 0 JAN N ROCHE DIRECTOR 1.00 X 0 0 0 LISA A SCHLEHUBER DIRECTOR 1.00 X 0 0 0 KEITH SULTEMEIER DIRECTOR 1.00 X 0 0 0 3114968 0 292942 33 0 1 0 YORK TELECOM 81 CORBETT WAY EATONTOWN NJ 07724 WEB RECORDING STUDIO SERVICES 650762 HBW CONSTRUCTION 1055 FIRST STREET STE 200 ROCKVILLE MD MD 20850 CONSTRUCTIONS SERVICES 247806 KORN FERRY NW 5854 PO BOX 1450 MINNEAPOLIS MN 55485 STAFF RECRUITMENT & TRAINING SERVICES 226620 GRAYROBINSON PO BOX 3068 ORLANDO FL 32802 TRADE ASSOCIATION LOBBYING 130000 OPAL KEY WEST RESORT & MARINA ACCOUNTS RECEIVABLE 245 FRONT STRE KEY WEST FL 33040 CONFERENCE SERVICES 111186 5 1082111 1082111 MEMBERSHIP DUES 900004 12862783 12862783 MEMBER EDUCATIONAL CONFERENCES 611600 3120045 3030203 89842 PRODUCTS AND SERVICES 900004 922246 680298 241948 MANAGEMENT SERVICES 531310 210448 210448 68718 68718 17184240 237254 237254 194247 0 194247 194247 194247 19182066 19143204 38862 38862 38862 NAFCU SERVICES CORP RENT 900003 101189 101189 101189 18837903 16573284 610956 571552 194520 2091544 7706843 484714 837866 592409 13284 44302 731102 388347 374554 1058268 619131 66316 1209997 473546 78753 DUES & SUBSCRIPTIONS 83279 LICENSES & FEES 45505 SPECIAL PROJECTS 38557 17132837 4790 2683220 3842693 13735198 65580 57285 2600201 2612775 372360 394350 11234403 8773502 2159679 2460901 18142842 7805099 398083 459996 841275 976209 28427503 31185033 2282704 2354657 10639733 11547017 314817 406252 13237254 14307926 X 12698902 13994481 2491347 2882626 15190249 16877107 28427503 31185033 X 1705066 -80121 61913 X X 0 1 X 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED NAFCU PAC 3138 10TH ST NORTH ARLINGTON VA 22201 541421503 0 15032 1 0 0 PART I-A, LINE 1: THE NATIONAL ASSOCIATION OF FEDERAL CREDIT UNIONS POLITICAL ACTION COMMITTEE/DBA NAFCU PAC WAS ORGANIZED TO CONDUCT POLITICAL ACTIVITIES ON BEHALF OF THE ASSOCIATION'S MEMBERS. SCHEDULE C, PART I-C, LINE 4 NAFCU DID NOT INCUR EXPENSES THAT WOULD REQUIRE THE FILING OF FORM 1120-POL FOR THE YEAR ENDED DECEMBER 31, 2021. NAFCU PAC FILED A FORM 1120 POL FOR 2021 INVESTMENT INCOME EARNED. 942153 942153 3184668 3184668 0 3878412 2884791 993621 2260517 1748813 511704 968653 955230 13423 2460901 DEFERRED COMPENSATION 391903 TENANT DEPOSITS 14349 406252 18819695 -80121 61913 -18208 18837903 0 18837903 17132837 0 17132837 0 17132837 PART XI, LINE 2D - OTHER ADJUSTMENTS: EQUITY IN EARNINGS OF SUBSIDIARY 61,913. 1 NAFCU FOUNDATION 3138 TENTH STREET NORTH ARLINGTON VA 22201 541755947 501(C)(3) 49000 0 GENERAL SUPPORT CHILDREN'S MIRACLE NETWORK PO BOX 855 HERSHEY PA 17933 251854772 501(C)(3) 25429 0 MATCH OF PAC DONATIONS PROGRAM - PLEDGE OWED NOT PAID, NOT TAX DEDUCTIBLE PER FEC OHSU FOUNDATION PO BOX 29017 PORTLAND OR 97296 237083114 501(C)(3) 15314 0 MATCH OF PAC DONATIONS PROGRAM - PLEDGE OWED NOT PAID, NOT TAX DEDUCTIBLE PER FEC PEACE HEALTH SACRED HEART MEDICAL CENTER FOUNDATION PO BOX 35146 SEATTLE WA 98124 936026548 501(C)(3) 15314 0 MATCH OF PAC DONATIONS PROGRAM - PLEDGE OWED NOT PAID, NOT TAX DEDUCTIBLE PER FEC HABITAT FOR HUMANITY OF NORTHERN VIRGINIA 2695 EDSALL RD STE 120 ALEXANDRA VA 22312 541547367 501(C)(3) 15000 0 GENERAL SUPPORT PENTAGON FEDERAL CREDIT UNION FOUNDATION 2930 EISENHOWER AVE ALEXANDRA VA 22314 542062271 501(C)(3) 15000 0 GENERAL SUPPORT ASCENSION SACRED HEART FOUNDATION 5375 NORTH NINTH AVENUE PENSACOLA FL 32504 592436597 501(C)(3) 10662 0 MATCH OF PAC DONATIONS PROGRAM - PLEDGE OWED NOT PAID, NOT TAX DEDUCTIBLE PER FEC CREDIT UNION MIRACLE DAY COMMITTEE INC 8975 GUILFORD RD 190 COLUMBIA MD 21046 522341329 501(C)(3) 10000 0 GENERAL SUPPORT CHILDREN'S MIRACLE NETWORK 205 WEST 700 SOUTH SALT LAKE CITY UT 84041 870387205 501(C)(3) 9101 0 MATCH OF PAC DONATIONS PROGRAM - PLEDGE OWED NOT PAID, NOT TAX DEDUCTIBLE PER FEC THE UPSTATE FOUNDATION INC 750 E ADAMS ST - 326 CAB SYRACUSE NY 13210 161068101 501(C)(3) 9101 0 MATCH OF PAC DONATIONS PROGRAM - PLEDGE OWED NOT PAID, NOT TAX DEDUCTIBLE PER FEC DREAM FOUNDATION 830 GREENBRIER CIRCLE CHESAPEAKE VA 23320 834612473 501(C)(3) 8100 0 MATCH OF PAC DONATIONS PROGRAM - PLEDGE OWED NOT PAID, NOT TAX DEDUCTIBLE PER FEC FILENE RESEARCH INSTITUTE 1010 E WASHINGTON AVE NO 306 MADISON WI 53703 391645910 501(C)(3) 7500 0 MEMBERSHIP 12 0 PART I, LINE 2: THE ORGANIZATION REVIEWS INFORMATION REGARDING THE ORGANIZATION AND FUNDED ACTIVITIES. X 1 1 X X X X X 0 1 0 B DANIEL BERGER PRESIDENT/CEO 879987 0 230891 0 51022 0 23200 0 19267 0 1204367 0 0 0 ANTHONY DEMANGONE EVP/COO 414664 0 66102 0 6000 0 64698 0 10250 0 561714 0 0 0 CARRIE HUNT EVP, GOV'T AFFAIRS/GEN. COUNSEL (TO 202219 0 65788 0 34904 0 15644 0 6908 0 325463 0 0 0 CATHERINE PORTERFIELD VP. MEMBERSHIP & SALES 181742 0 71823 0 0 0 17955 0 15049 0 286569 0 0 0 BRADFORD THALER VP, LEGISLATIVE AFFAIRS 232454 0 9343 0 0 0 19555 0 11092 0 272444 0 0 0 BRANDY BRUYERE VP, REGULATORY COMPLIANCE (TO DEC '2 196937 0 35291 0 8750 0 15002 0 19267 0 275247 0 0 0 GREGORY JOHNS VP, FINANCE 196129 0 30256 0 0 0 18165 0 10652 0 255202 0 0 0 ANN KOSSACHEV VP, REGULATORY AFFAIRS 172992 0 27674 0 0 0 15988 0 10250 0 226904 0 0 0 PART I, LINE 1A TRAVEL FOR COMPANIONS: BOARD MEMBERS RECEIVED FORM 1099-MISC AS REQUIRED. PART I, LINE 4B 457(F) PLAN CONTRIBUTIONS: ANTHONY DEMANGONE - $41,498 B DAN BERGER CEO COLLATERAL SPLIT-DOLLAR INSURANCE AGREEMENT X 2600000 2612775 0 1 1 2612775 FORM 990, PART I, LINE 1, DESCRIPTION OF ORGANIZATION'S MISSION: THE NATIONAL ASSOCIATION OF FEDERALLY-INSURED CREDIT UNIONS (NAFCU) IS A DIRECT MEMBERSHIP ASSOCIATION FOR FEDERALLY-INSURED CREDIT UNIONS. WE ARE COMMITTED TO REPRESENTING, ASSISTING, EDUCATING AND INFORMING OUR MEMBER CREDIT UNIONS TO HELP THEM GROW, AND HELP GROW THE CREDIT UNION INDUSTRY. AND TO US, IT'S PERSONAL. FORM 990, PART VI, SECTION A, LINE 6 MEMBERSHIP IN THIS CORPORATION SHALL BE OPEN TO ANY FEDERALLY-INSURED NATURAL PERSON OR CORPORATE CREDIT UNION. EACH MEMBER SHALL BE ENTITLED TO ONE VOTE. FORM 990, PART VI, SECTION A, LINE 7A THE NAFCU SECRETARY SHALL PREPARE AN OFFICAL BALLOT CONTAINING THE NAMES OF THE NOMINEES AND THE NAME AND ADDRESS OF THE CREDIT UNION WITH WHICH EACH IS ASSOCIATED AND, NOT LESS THAN 70 DAYS PRIOR TO THE ANNUAL BUSINESS MEETING, MAIL OR OTHERWISE CAUSE IT TO BE DELIVERED OR MADE AVAILABLE TO THE MEMBERS. ONCE THE NOMINEE'S NAME HAS BEEN CONSIDERED FOR PLACEMENT ON THE BALLOT, AND ENTIRE MEMBERSHIP LISTING IS SENT TO THAT NOMINEE. EACH MEMBER CREDIT UNION, ACTING THROUGH ITS CHIEF ELECTED OFFICIAL, BOARD SECRETARY, OR CHIEF EXECUTIVE OFFICER/PRESIDENT/MANAGER EXECUTES THE BALLOT. OFFICIAL BALLOTS MUST BE SIGNED BY THAT OFFICIAL. THE CANDIDATES RECEIVING THE HIGHEST NUMBER OF VOTES SHALL BE DULY ELECTED TO THE BOARD. FORM 990, PART VI, SECTION A, LINE 7B THE MEMBERSHIP ELECTS THE DIRECTORS AND VOTES ON ANY AMENDMENTS TO THE ARTICLES. FORM 990, PART VI, SECTION B, LINE 11B THE RETURN IS REVIEWED AND DISCUSSED BY THE BOARD OF DIRECTORS AT THE FIRST REGULAR BOARD MEETING EACH YEAR. THIS REVIEW FOLLOWS THE BOARD'S REVIEW, DISCUSSION, AND APPROVAL OF THE AUDIT AS PRESENTED BY THE AUDIT COMMITTEE CHAIR. FORM 990, PART VI, SECTION B, LINE 12C CONFLICTS OF INTEREST ARE MONITORED ANNUALLY. THE PRESIDENT/CEO OF NAFCU HAS THE THE ULTIMATE AUTHORITY TO DETERMINE WHAT REMEDIAL STEPS SHOULD BE TAKEN IN SITUTATIONS INVOLVING ACTUAL OR POTENTIAL CONFLICTS OF INTEREST. IN SITUATIONS INVOLVING AN ACTUAL OR POTENTIAL CONFLICT OF INTEREST WITH RESPECT TO THE PRESIDENT/CEO, THE CHAIR OF NAFCU'S BOARD HAS THE ULTIMATE AUTHORITY TO DETERMINE WHETHER A CONFLICT EXISTS, AND IF SO, WHAT STEPS SHOULD BE TAKEN TO RESOLVE OR ELIMINATE THE CONFLICT. FORM 990, PART VI, SECTION B, LINE 15 LINE 15 A - COMPENSATION FOR THE CEO: THE CEO HAS A WRITTEN CONTRACT. THE NAFCU EXECUTIVE COMMITTEE SERVES AS THE "CEO COMPENSATION COMMITTEE". IN DETERMINING THE CEO'S COMPENSATION, THE CEO COMPENSATION COMMITTEE RELIES ON A COMPENSATION SURVEY AND AN INDEPENDENT COMPENSATION CONSULTANT IN ACCORDANCE WITH WRITTEN POLICY ESTABLISHED AND APPROVED BY THE BOARD OF DIRECTORS. THE RECOMMENDATIONS OF THE CEO COMPENSATION COMMITTEE ARE REVIEWED AND APPROVED BY THE ENTIRE BOARD AT THE FIRST REGULAR BOARD MEETING EACH YEAR. LINE 15 B - COMPENSATION FOR KEY EMPLOYEES: COMPENSATION FOR KEY EMPLOYEES IS DETERMINED BY THE PRESIDENT/CEO IN ACCORDANCE WITH THE ANNUAL BUDGET REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS. KEY EMPLOYEE COMPENSATION IS ESTABLISHED USING COMPARABILITY DATA AND AN INDEPENDENT CONSULTANT. FORM 990, PART VI, SECTION C, LINE 19 THE BYLAWS AND THE ANNUAL REPORT ARE AVAILABLE TO THE GENERAL PUBLIC VIA THE NAFCU WEBSITE. THE TAX RETURNS AND THE RELATED FORM 1024 APPLICATION ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: EQUITY IN EARNINGS OF SUBSIDIARY 61,913. FORM 990, PART XII, LINE 2C THE AUDIT OVERSIGHT PROCESS HAS REMAINED UNCHANGED FROM THE PRIOR YEAR. NAT'L ASSOC OF FEDERAL CREDIT UNIONS FOUNDATION 3138 TENTH ST NORTH ARLINGTON VA 22901 541755947 TO PROMOTE THE CHARITABLE, LITERARY, EDUCATIONAL, AND HUMANITARIAN CAUSES VA 501(C)(3) LINE 12A, I 0 NAFCU POLITICAL ACTION COMMITTEE 3138 TENTH ST NORTH ARLINGTON VA 22901 541421503 POLITICAL ACTIVITIES VA 527 0 NAFCU SERVICES CORPORATION 3138 10TH ST NORTH ARLINGTON VA 22201 521424435 CONSULTING & MARKETING DC NATIONAL ASSOC OF FEDERAL CREDIT UNIONS C 2626356 1603524 1.00000 1 1 1 0 0 0 0 0 0 0 1 1 1 1 1 0 1 1 0 0 NAFCU SVC CORP INC A 101189 CASH VALUE NAFCU SVC CORP INC L 206114 CASH VALUE NAFCU SVC CORP INC Q 114569 CASH VALUE NAFCU SVC CORP INC N 657273 CASH VALUE