Namic Inc
- Assets
- $1.8m
- Revenue
- $3.5m
- Investments
- $0.0
- Employees
- 5
- Location
- New York, NY
- Founding
- 08/2000
- Data as of
- 12/2021
- EIN
- 84-1488263
Organization Overview
Namic Inc is located in New York, NY. The organization was established in 2000. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Namic Inc employed 5 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes. Namic Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2021, Namic Inc generated $3.5m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.5%) each year. All expenses for the organization totaled $2.8m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (5.0%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
NAMIC INC IS A NOT-FOR-PROFIT TRADE ASSOCIATION THAT EDUCATES, ADVOCATES AND EMPOWERS FOR MULTI-ETHNIC DIVERSITY IN THE COMMUNICATIONS INDUSTRY. IT CULTIVATES INDIVIDUAL CAREERS AS WELL AS PARTNERING WITH OUR COUNTRY'S LEADING MEDIA COMPANIES WHO ARE COMMITTED TO ADVANCING THE BUSINESS CASE FOR DIVERSITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ENGAGES WITH PROFESSIONALS AND THE COMPANIES IN THE COMMUNICATION INDUSTRIES BY OFFERING EDUCATION, MENTORING, LEADERSHIP DEVELOPMENT SEMINARS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
A Shuanise Washington Director, President & CEO | OfficerTrustee | 40 | $260,000 |
Anne-Marie Burton Chief, Strategy And Programs | 40 | $141,622 | |
Sandra Girado Vice President, Events And Partner Relations | 40 | $100,967 | |
Cheryl Manley Director & Chair | OfficerTrustee | 1 | $0 |
Mark Kang Director & Vice-Chair | OfficerTrustee | 1 | $0 |
Pragash Pillai Director & Treasurer | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Pricewaterhousecoopers Llp Professional Services | 12/30/21 | $122,500 |
Ncheng Llp Accounting Services | 12/30/21 | $115,263 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $81,309 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,099,360 |
| Noncash contributions included in lines 1a–1f | $33,630 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,180,669 |
| Total Program Service Revenue | $2,231,762 |
| Investment income | $324 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,528,180 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $180,000 |
| 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. | $260,000 |
| Compensation of current officers, directors, key employees. | $91,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $416,780 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $43,448 |
| Payroll taxes | $44,599 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $81,200 |
| Office expenses | $3,253 |
| Information technology | $13,532 |
| Royalties | $0 |
| Occupancy | $172,782 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $44 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,133 |
| Insurance | $17,726 |
| All other expenses | $8,140 |
| Total functional expenses | $2,799,322 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $836,847 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $977,720 |
| 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 | $10,743 |
| Net Land, buildings, and equipment | $17,912 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,843,222 |
| Accounts payable and accrued expenses | $541,483 |
| Grants payable | $0 |
| Deferred revenue | $256,100 |
| 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 | $0 |
| Other liabilities | $0 |
| Total liabilities | $797,583 |
| Net assets without donor restrictions | $1,015,125 |
| Net assets with donor restrictions | $30,514 |
| 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 | $1,843,222 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Namic Inc has recieved totaling $270,000.
| Awarding Organization | Amount |
|---|---|
Walter Kaitz Foundation Washington, DC PURPOSE: PROMOTE DIVERSITY IN THE CABLE INDUSTRY | $270,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Telecom Infra Project Inc Wakefield, MA | $19,363,144 | $19,879,167 |
Northeast Gas Association Inc Needham, MA | $15,830,312 | $17,592,560 |
International Trademark Association Inc New York, NY | $31,452,258 | $17,397,846 |
American Association Of Advertising Agencies Inc New York, NY | $18,840,338 | $16,325,912 |
Northeast Power Coordinating Council Inc New York, NY | $13,480,521 | $16,289,125 |
The Toy Association Inc New York, NY | $44,631,259 | $11,487,921 |
Philadelphia Industrial Development Corp Philadelphia, PA | $40,435,799 | $13,493,986 |
Private Label Manufacturers Association New York, NY | $11,255,640 | $8,374,810 |
Pocono Mountains Vacation Bureau Inc Stroudsburg, PA | $11,737,684 | $15,325,542 |
Mohawk Valley Health System Utica, NY | $546,149,518 | $137,473,732 |
Acord Corporation Pearl River, NY | $47,591,189 | $27,875,680 |
National Kitchen & Bath Assoc Bethlehem, PA | $28,104,693 | $9,331,415 |