National Association Of Student Financial Aid Administrators
- Assets
- $22.2m
- Revenue
- $10.0m
- Investments
- $5.7m
- Employees
- 51
- Location
- Washington, DC
- Founding
- 11/1976
- Data as of
- 06/2021
- EIN
- 83-0211970
Organization Overview
National Association Of Student Financial Aid Administrators is located in Washington, DC. The organization was established in 1976. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. As of 06/2021, National Association Of Student Financial Aid Administrators employed 51 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. National Association Of Student Financial Aid Administrators is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, National Association Of Student Financial Aid Administrators generated $10.0m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.4% each year. All expenses for the organization totaled $7.8m during the year ending 06/2021. While expenses have increased by 1.1% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE NATIONAL ASSOCIATION OF STUDENT FINANCIAL AID ADMINISTRATORS (NASFAA) PROVIDES PROFESSIONAL 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.
Describe the Organization's Program Activity:
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.
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.
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.
NATIONAL CONFERENCE: THIS ANNUAL FORUM ATTRACTS NEARLY 2,000 FINANCIAL AID ADMINISTRATORS AND THE DEPARTMENT OF EDUCATION. IT IS AN OPPORTUNITY FOR PEOPLE INVOLVED WITH ALL ASPECTS OF STUDENT FINANCIAL AID TO EXCHANGE IDEAS AND INFORMATION. IT IS THE ONLY SUCH CONFERENCE AND SERVES AS A FORUM TO PROMOTE THE PROFESSIONALISM OF THE ENTIRE INDUSTRY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Justin Draeger President And CEO | Officer | 38.8 | $383,984 |
Beth Maglione Secretary/executive VP | Officer | 40 | $159,091 |
Megan Coval Vp, Policy And Advocacy | 35 | $138,843 | |
Dana Kelly Vp, Professional Development | 35 | $133,081 | |
Karen Mccarthy Mgr, Policy Analysis | 35 | $118,982 | |
Jennifer Jackson Mgr, Meetings And Events | 35 | $117,826 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Modern Signal Llc Web Design And Database Development | 6/29/21 | $299,649 |
Cordia Partners Llc Outsourced Accounting | 6/29/21 | $200,237 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $930,600 |
| All other contributions, gifts, grants, and similar amounts not included above | $411,100 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,341,700 |
| Total Program Service Revenue | $7,412,084 |
| Investment income | $246,459 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $553 |
| Net Gain/Loss on Asset Sales | $691,220 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,008,615 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $668,442 |
| Compensation of current officers, directors, key employees. | $71,645 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,416,378 |
| Pension plan accruals and contributions | $424,652 |
| Other employee benefits | $455,607 |
| Payroll taxes | $284,786 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $16,196 |
| Fees for services: Accounting | $31,893 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $58,890 |
| Fees for services: Other | $619,091 |
| Advertising and promotion | $8,438 |
| Office expenses | $153,594 |
| Information technology | $719,667 |
| Royalties | $0 |
| Occupancy | $552,225 |
| Travel | $14,841 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $246,309 |
| Insurance | $24,567 |
| All other expenses | $2,477 |
| Total functional expenses | $7,788,832 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,881 |
| Savings and temporary cash investments | $6,149,260 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $45,147 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $306,477 |
| Net Land, buildings, and equipment | $821,925 |
| Investments—publicly traded securities | $7,707,540 |
| Investments—other securities | $5,686,511 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,465,986 |
| Total assets | $22,189,727 |
| Accounts payable and accrued expenses | $866,248 |
| Grants payable | $0 |
| Deferred revenue | $4,534,085 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $895,556 |
| Other liabilities | $2,365,709 |
| Total liabilities | $8,661,598 |
| Net assets without donor restrictions | $13,528,129 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $22,189,727 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that National Association Of Student Financial Aid Administrators has recieved totaling $340,907.
| Awarding Organization | Amount |
|---|---|
Bill & Melinda Gates Foundation Seattle, WA PURPOSE: POSTSECONDARY EDUCATION | $184,968 |
Bill & Melinda Gates Foundation Seattle, WA PURPOSE: POSTSECONDARY EDUCATION | $155,939 |
Endowment Analysis
| Beg. Balance | $6,778,852 |
| Net Contributions | $820,555 |
| Other Expense | $870,269 |
| Ending Balance | $6,729,138 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Somerset Community Services Inc Marion Station, MD | $23,511,474 | $20,221,070 |
American Association Of University Women Inc Washington, DC | $138,843,361 | $18,528,803 |
James Madison University Foundation Inc Harrisonburg, VA | $191,139,680 | $18,508,438 |
Indian Paintbrush Foundation Washington, DC | $2,617,521,485 | $1,521,981,843 |
Marine Corps Scholarship Foundation Inc Alexandria, VA | $149,128,193 | $34,285,716 |
Children Of Fallen Patriots Foundation Reston, VA | $18,264,760 | $13,060,746 |
District Of Columbia College Access Program Washington, DC | $105,959,870 | $18,161,486 |
Asian And Pacific Islander American Scholarship Fund Washington, DC | $37,686,826 | $13,616,717 |
National Association Of Student Financial Aid Administrators Washington, DC | $22,189,727 | $10,008,615 |
Cobell Board Of Trustees Washington, DC | $177,171,131 | $17,842,265 |
National Consortium For Graduate Dgrs Minorities In Engineering Alexandria, VA | $15,486,907 | $10,356,249 |
Maryland Philanthropy Network Inc Baltimore, MD | $5,808,264 | $5,920,100 |