2022-05-13T10:59:17-05:00 2021-06-30 410746749 CLIFTONLARSONALLEN LLP 901 NORTH GLEBE ROAD SUITE 200 ARLINGTON VA 22203 990 2020-07-01 522086855 NATIONAL BUSINESS OFFICERS ASSOCIATION INC NATI 2024077140 1400 I STREET NW NO 675 WASHINGTON DC 20005 JEFFREY SHIELDS PRESIDENT & CHIEF EXECUTIVE OFFICER 2024077140 2022-05-12 1 JEFFREY SHIELDS XXX-XX-XXXX J ANDREW SMITH P00635175 5712279500 2022-05-12 3 AAL1 IAL1 2020 2022-09-23 18:48:47Z JEFFREY SHIELDS 1400 I STREET NW NO 675 WASHINGTON DC 20005 6729546 0 X WWW.NBOA.ORG X 1998 MD SUPPORT ALL ASPECTS OF INDEPENDENT SCHOOL BUSINESS OPERATIONS, EDUCATION & BEST PRACTICES. 19 19 20 109 181180 7393 308560 315720 5455861 4771670 142535 249340 99836 121408 6006792 5458138 0 0 0 0 2621151 2811707 0 0 109123 2963639 1948455 5584790 4760162 422002 697976 8778988 10181383 3196520 3389594 5582468 6791789 X NATIONAL BUSINESS OFFICERS ASSOCIATION (NBOA) SUPPORTS ALL BUSINESS OPERATIONS OF INDEPENDENT SCHOOLS, INCLUDING FINANCIAL OPERATIONS, FACILITIES MANAGEMENT, HUMAN RESOURCES AND INFORMATION TECHNOLOGY.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 2305179 3751171 MEMBER SERVICES: 1,400 ASSISTED MEMBERS STREAMLINE BUSINESS AND STRATEGIC OPERATIONS THROUGH INFORMATION SHARING, EDUCATION, RESEARCH, ENHANCED COMMUNICATIONS, AND A POOLED PURCHASING PROGRAM AND AFFINITY PROGRAMS. 644000 839319 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. 499958 38933 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. 154241 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. 154241 3603378 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 32 0 20 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 19 19 0 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X JEFFREY SHIELDS 2024077140 1400 I STREET NW SUITE 675 WASHINGTON DC 20005 JEFFREY SHIELDS PRESIDENT AND CEO 40.00 X 428745 0 67097 JAMES PALMIERI SENIOR VP 40.00 X 191267 0 37743 JENNIFER HILLEN CHIEF LEARNING OFFICER 40.00 X 163689 0 27820 BARRY PILSON VP, MEMBERSHIP/MARKETING 40.00 X 143595 0 16613 BRIAN GREEN DIRECTOR, IT AND WEB SERVICES 40.00 X 115201 0 29246 IRENA REESE VP, FINANCE AND ADMIN 40.00 X 103001 0 9200 CHUCK MCCULLAGH BOARD CHAIR 8.00 X X 0 0 0 ROSE NEUBERT BOARD CHAIR - ELECT 8.00 X X 0 0 0 SUSAN LANSVERK TREASURER 8.00 X X 0 0 0 DUNCAN BOOTH SECRETARY 8.00 X X 0 0 0 LAUREL BAKER-TEW DIRECTOR 3.00 X 0 0 0 SARA SKINNER DIRECTOR 3.00 X 0 0 0 NISHANT MEHTA DIRECTOR 3.00 X 0 0 0 JT COATS DIRECTOR 3.00 X 0 0 0 MICHAEL EBELING DIRECTOR 3.00 X 0 0 0 JAMES COOPER DIRECTOR 3.00 X 0 0 0 HEATHER HOERLE DIRECTOR 3.00 X 0 0 0 RICK BRANSON DIRECTOR 3.00 X 0 0 0 DONNA PACCHIONI DIRECTOR 3.00 X 0 0 0 DEV TALVADKAR DIRECTOR 3.00 X 0 0 0 BEN LEWIS DIRECTOR 3.00 X 0 0 0 ANN MARIE TIDONA DIRECTOR 3.00 X 0 0 0 ALEX HEIBERGER DIRECTOR (THRU JANUARY 2021) 3.00 X 0 0 0 JOE CARTER DIRECTOR 3.00 X 0 0 0 LINDA DENNISON DIRECTOR 3.00 X 0 0 0 TOM ARNOLD DIRECTOR 3.00 X 0 0 0 1145498 0 187719 9 0 1 0 MEASURING SUCCESS LLC 1629 K STREET NW SUITE 604 WASHINGTON DC 20006 RESEARCH DATA PLATFORM DEVELOPMENT AND M 127000 1 315720 315720 MEMBERSHIP DUES 541190 3751171 3751171 PROGRAMS & EVENTS 541900 839319 839319 ADVERTISING 541800 181180 181180 4771670 125948 125948 82475 82475 1392069 1268677 123392 123392 123392 41664 2731 38933 38933 5458138 4629423 181180 331815 491294 417599 24565 49130 1869379 1532716 290112 46551 154513 126364 25105 3044 136363 112121 20060 4182 160158 132207 21735 6216 33786 33786 20925 20925 13745 13745 47321 47321 58022 58022 136882 6961 129921 196822 118785 78037 221113 221113 4719 4719 208608 190775 17833 137 137 390080 366873 23207 24603 24603 RESEARCH 377274 377274 MAGAZINE/E-NEWSLETTER/B 144356 144356 PROFESSIONAL DEVELOPMEN 10973 10973 USER FEES 10000 10000 49089 4606 44483 4760162 3603378 1047661 109123 1562387 1844534 1499476 1474960 240346 123470 50200 125773 311563 257303 89362 54260 4791733 6230614 525524 307812 19960 19960 8778988 10181383 214899 217208 2899576 3103920 82045 68466 3196520 3389594 X 5582468 6791789 5582468 6791789 8778988 10181383 697976 511345 0 X 0 1 X 1 0 X 340525 302375 345475 308560 315720 1612655 340525 302375 345475 308560 315720 1612655 588599 1024056 156190 194464 275751 224903 208423 1059731 63622 57499 47078 9667 6148 184014 2856400 24727734 0.35850 0.35390 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 18765 11809 6956 260502 217624 42878 32296 27870 4426 54260 CAPITAL LEASE 3801 DEFERRED RENT 64665 68466 X 5988469 511345 30000 2731 544076 5444393 13745 13745 5458138 4779148 30000 2731 32731 4746417 13745 13745 4760162 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, 2021 AND 2020, NBOA INCURRED APPROXIMATELY $1,553 AND $2,050 IN TAXES FOR UNRELATED TRADE OR BUSINESS INCOME, RESPECTIVELY. NBOA HAS EVALUATED ITS TAX POSITIONS AS OF JUNE 30, 2021 AND 2020, 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 2,731. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD FROM SALES OF INVENTORY 2,731. X 1 1 X X X X 0 1 0 0 0 0 0 1 0 JEFFREY SHIELDS PRESIDENT AND CEO 396174 0 19000 0 13571 0 48000 0 19097 0 495842 0 0 0 JAMES PALMIERI SENIOR VP 186267 0 5000 0 0 0 19855 0 17888 0 229010 0 0 0 JENNIFER HILLEN CHIEF LEARNING OFFICER 153689 0 10000 0 0 0 16720 0 11100 0 191509 0 0 0 BARRY PILSON VP, MEMBERSHIP/MARKETING 143595 0 0 0 0 0 1867 0 14746 0 160208 0 0 0 PART I, LINE 1A HEALTH CLUB DUES OR INITIATION FEES ARE PROVIDED TO ALL STAFF INCLUDING JEFFREY SHIELDS, PRESIDENT AND CEO. FOR THE CALENDAR YEAR 2020, THOSE BENEFITS AMOUNTED TO $1,500. PART I, LINE 4B NBOA HAS A DEFERRED COMPENSATION PLAN UNDER CODE SECTION 457(B). IN ACCORDANCE WITH THE PRESIDENT AND CEO'S EMPLOYMENT AGREEMENT, NBOA CONTRIBUTES THE MAXIMUM AMOUNT ALLOWABLE IN EQUAL MONTHLY INSTALLMENTS. DURING THE CALENDAR YEAR ENDED DECEMBER 31, 2020, NBOA CONTRIBUTED TO THE PLAN FOR JEFFREY SHIELDS, PRESIDENT & CEO. 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 BOARD. THE FOLLOWING INDIVIDUALS RECEIVED SUCH A NON-FIXED PAYMENT AS PART OF 2020 W-2 COMPENSATION: JEFFREY SHIELDS, PRESIDENT AND CEO, $19,000 JAMES PALMIERI, SENIOR VP, $5,000 BRIAN GREEN, DIRECTOR, IT & WEB SERVICES, $3,000 JENNIFER HILLEN, VP OF PROFESSIONAL DEVELOPMENT AND BUSINESS AFFAIRS, $10,000 FORM 990, PART VI, SECTION A, LINE 1 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 A, LINE 4 -MEMBERSHIP CLASS WAS ADDED TO THE BYLAWS. -NOTICE BY MAIL POSTED OF THE PLACE, DAY AND HOUR OF EVERY REGULAR AND SPECIAL MEETING SHALL BE GIVEN TO EACH DIRECTOR, WAS REMOVED FROM THE NEW BYLAWS. -BOARD TERMS WAS MODIFIED. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM AND THEN THE FINANCE AND AUDIT COMMITTEE OF THE BOARD OF DIRECTORS REVIEWS THE DRAFT RETURN IN DETAIL AND APPROVES ITS SUBMISSION. THE FORM 990 IS PROVIDED ELECTRONICALLY TO THE FULL BOARD OF DIRECTORS FOR REVIEW PRIOR TO 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 FULL BOARD OF DIRECTORS. THERE HAS BEEN NO INSTANCE WHERE THERE WAS A CONFLICT OF INTEREST. 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 WAS MOST RECENTLY APPLIED IN 2021. 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. THIS PROCESS WAS MOST RECENTLY APPLIED IN 2021. 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. FORM 990, PART VI, SECTION B, LINE 15A 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 WAS MOST RECENTLY APPLIED IN 2021.