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28
Feb

Executive Compensation at the National Equity Fund (Chicago, IL)

The National Equity Fund (NEF) is a tax-exempt, non-profit 501 (c) 4 – a social welfare organization – engaged as a national syndicator of low-income housing tax credits. There are 15 voting members of the governing body, 11 of whom are independent. 11 of the 15 (73%) directors are male while 4 of the 15 (27%) directors are female.

NEF reports total revenue of about $50 million ($55 million in 2018; $49 million in 2017) most of which is from low income housing. For the past two years the organization has spent about $6 million more than they have raised annually but because of capital additions, net assets have increased (to $46 million) rather than declined. Read more »

26
Feb

How Revenue is Spent at the National Equity Fund in Chicago, IL

The National Equity Fund (NEF) is a tax-exempt, non-profit 501 (c) 4 engaged as a national syndicator of low-income housing tax credits. According to the NE website, they “revitalize communities, empower individuals, and create economic opportunities nationwide.”  What they don’t write about on their website is that most revenue goes to compensate employees and that only about 20% of revenue is used for grants. It is also important to note NEF is an affiliate of Local Initiatives Support Corporation – a tax-exempt non-profit 501 (c) 3 based in New York City, NY and who also happens to be the recipient of nearly all the grant money awarded in 2018. Read on. Read more »

24
Feb

Executive Compensation at the National Opinion Research Center

The National Opinion Research Center (NORC) at the University of Chicago is an objective non-partisan institution conducting research to produce data in the fields of social science and public opinion. This data helps guide critical program, business, and policy decisions.

A tax-exempt, non-profit 501 (c) 3, NORC was established in 1941 in Chicago, Illinois and prides itself on “research you can trust.” In their own words: Read more »

22
Feb

How Revenue is Spent at the National Opinion Research Center

The National Opinion Research Center (NORC) at the University of Chicago is an objective non-partisan institution conducting research to produce data in the fields of social science and public opinion. This data helps guide critical program, business, and policy decisions.

A tax-exempt, non-profit 501 (c) 3, NORC was established in 1941 in Chicago, Illinois and prides itself on “research you can trust.” In their own words: Read more »

20
Feb

Executive Compensation at ERCOT

Most people outside of Texas had not heard of ERCOT (Electrical Reliability Council of Texas) until this past week when the company was slammed for the massive loss of power across the state.

Although ERCOT is considered an independent system operator, the organization is a membership-based tax-exempt, non-profit 501 (c) (4) governed by a  board of directors and subject to oversight by the Public Utility Commission of Texas and the Texas Legislature (who decided decades ago not to allow power to come from outside the state to avoid having to comply with federal regulations that kick in with interstate transactions). In other words, the responsibility to provide power falls upon the management of ERCOT and Texas state officials – not the federal government.

ERCOT’s members (303 as of 12/31/2018) include consumers, cooperatives, generators, power marketers, retail electric providers, investor-owned public utilities, transmission and distribution providers, and municipally-owned electric utilities. Read more »

18
Feb

Executive Compensation at the NRA (2019)

The National Rifle Association of America (NRA) is a non-profit 501 (c) (4) organization or what many people refer to as an membership advocacy organization that fights tirelessly for our second amendment rights and pays their executives very well while also paying for first class or charter travel, travel for companions, health or social club dues or initiation fees, gross up payments and tax indemnification, and provides housing allowances or housing for personal use.

The most recent IRS Form 990 (2019) reports the organization employed 770 individuals who were compensated $57 million, which equates to an average compensation of $74,000. 149 employees received more than $100,000 in compensation while the 15 most highly compensated key executives received more than $12 million dollars in 2019: Read more »

16
Feb

Where Does $100 to the NRA Go (2019)?

When most people think of the NRA they think of the National Rifle Association of America and the second amendment (“A well regulated Militia, being necessary to the security of a free State, the right of the people to keep and bear Arms, shall not be infringed”) but there are six separate non-profits that comprise the NRA:

  • NRA (National Rifle Association of America):  501 (c)(4)
  • NRA Foundation, Inc.:  501 (c)(3)
  • NRA Freedom Action Foundation:  501 (c)(3)
  • NRA Civil Rights Defense Fund:  501 (c)(3)
  • NRA Special Contribution Fund: 501 (c) (3)
  • NRA Political Victory Fund: PAC Section 527

Read more »

14
Feb

Covid and the Future of Pandemics

It should come as no surprise to anyone that China refuses to give the World Health Organization (WHO) full access to Covid data. There’s no upside for them to cooperate and so, WHO and many of the other scientists who (no pun intended) know that Covid-19 was transmitted from an animal, likely a bat to a human, claim they won’t get the answers they need to understand how this virus erupted and evolved to produce a worldwide pandemic.  But, I think they know. The cause of Covid-19 and most viruses is the elephant in the room that no one really wants to talk about, and so people blame other nations and politicians instead of really trying to prevent the next worldwide pandemic virus.  Read more »

12
Feb

Executive Compensation at the YMCA

The YMCA (Young Men’s Christian Association) is a worldwide (119 countries) organization based in Geneva, Switzerland (World Alliance of the YMCA). Within the United States, there are approximately 2,700 YMCA’s serving 10,000 communities that rely on the YMCA of the USA (that is also known as the National Council of YMCA’s of the USA) that in turn relies on The World Alliance of the YMCA).  In the most simplistic terms, the YMCA is organized as follows:

World Alliance of the YMCA

125 National Associations (including The YMCA of the USA/National Council of YMCA’s of the USA)

Alliances (typically geographic) and Local Chapters (including 2,700 YMCA’s in the USA) Read more »

10
Feb

Executive Compensation at the International Fellowship of Christians and Jews

The International Fellowship of Christians and Jews (IFCJ) is a tax-exempt, non-profit 501 (c) 3 founded by a rabbi in 1983 as a way to “bless Israel and the Jewish people around the world with humanitarian care and life-saving aid” while “building bridges between Christians and Jews.”

Based in Chicago, Illinois, IFCJ raises about $120 million annually (primarily through contributions, gifts, and grants) and spends a few million less, allowing the organization to accumulate $32 million in net assets. Expenses are about $115 million, half of which are spent on grants to Jewish organizations in the US and Israel. There does not appear to be any grants made to Christian organizations. The other expenses are organization expenses – fundraising, compensating employees, paying fees for services, etc).

121 employees received $13 million in compensation which equates to an average compensation of $107,400.  27 employees received more than $100,000 in compensation with the 10 most highly compensated reported to be: Read more »