Attach to Form 990 or Form 990-EZ.
Go to
www.irs.gov/Form990 for instructions and the latest information.
| (i) Name of supported organization | (ii) EIN | (iii) Type of organization (described on lines 1- 10 above (see instructions)) | (iv) Is the organization listed in your governing document? | (v) Amount of monetary support (see instructions) | (vi) Amount of other support (see instructions) | |
|---|---|---|---|---|---|---|
| Yes | No | |||||
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Total |
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Calendar year
(or fiscal year beginning in)
![]() |
(a) 2019 | (b) 2020 | (c) 2021 | (d) 2022 | (e) 2023 | (f) Total | |
|---|---|---|---|---|---|---|---|
| 1 | Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grant.") .. | ||||||
| 2 | Tax revenues levied for the organization's benefit and either paid to or expended on its behalf .... | ||||||
| 3 | The value of services or facilities furnished by a governmental unit to the organization without charge.. | ||||||
| 4 | Total. Add lines 1 through 3 | ||||||
| 5 | The portion of total contributions by each person (other than a governmental unit or publicly supported organization) included on line 1 that exceeds 2% of the amount shown on line 11, column (f) .. | ||||||
| 6 | Public support. Subtract line 5 from line 4. | ||||||
Calendar year
(or fiscal year beginning in)
![]() |
(a) 2019 | (b) 2020 | (c) 2021 | (d) 2022 | (e) 2023 | (f) Total | |
|---|---|---|---|---|---|---|---|
| 7 | Amounts from line 4.. | ||||||
| 8 | Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources... | ||||||
| 9 | Net income from unrelated business activities, whether or not the business is regularly carried on.. | ||||||
| 10 | Other income. Do not include gain or loss from the sale of capital assets (Explain in Part VI.).. | ||||||
| 11 | Total support. Add lines 7 through 10 | ||||||
Calendar year (or fiscal
year beginning in) ![]() |
(a) 2019 | (b) 2020 | (c) 2021 | (d) 2022 | (e) 2023 | (f) Total | |
|---|---|---|---|---|---|---|---|
| 1 | Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grants.") . | 844,879 | 647,460 | 3,211,908 | 889,640 | 2,276,333 | 7,870,220 |
| 2 | Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose | 15,854,631 | 5,753,843 | 7,557,360 | 10,705,489 | 12,965,022 | 52,836,345 |
| 3 | Gross receipts from activities that are not an unrelated trade or business under section 513 ..... | ||||||
| 4 | Tax revenues levied for the organization's benefit and either paid to or expended on its behalf... | ||||||
| 5 | The value of services or facilities furnished by a governmental unit to the organization without charge | ||||||
| 6 | Total. Add lines 1 through 5 | 16,699,510 | 6,401,303 | 10,769,268 | 11,595,129 | 15,241,355 | 60,706,565 |
| 7a | Amounts included on lines 1, 2, and 3 received from disqualified persons | 0 | |||||
| b | Amounts included on lines 2 and 3 received from other than disqualified persons that exceed the greater of $5,000 or 1% of the amount on line 13 for the year. | 42,030 | 38,877 | 80,907 | |||
| c | Add lines 7a and 7b.. | 42,030 | 38,877 | 80,907 | |||
| 8 | Public support. (Subtract line 7c from line 6.) | 60,625,658 | |||||
Calendar year
(or fiscal year beginning in)
![]() |
(a) 2019 | (b) 2020 | (c) 2021 | (d) 2022 | (e) 2023 | (f) Total | |
|---|---|---|---|---|---|---|---|
| 9 | Amounts from line 6... | 16,699,510 | 6,401,303 | 10,769,268 | 11,595,129 | 15,241,355 | 60,706,565 |
| 10a | Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources.. | 340,460 | 281,890 | 339,264 | 326,273 | 338,981 | 1,626,868 |
| b | Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975. | ||||||
| c | Add lines 10a and 10b. | 340,460 | 281,890 | 339,264 | 326,273 | 338,981 | 1,626,868 |
| 11 | Net income from unrelated business activities not included on line 10b, whether or not the business is regularly carried on. | 925 | 124,730 | 173,694 | 142,366 | 441,715 | |
| 12 | Other income. Do not include gain or loss from the sale of capital assets (Explain in Part VI.) .. | 173,558 | 2,509,011 | 3,263,290 | 8,304 | -37,890 | 5,916,273 |
| 13 | Total support. (Add lines 9, 10c, 11, and 12.).. | 17,214,453 | 9,192,204 | 14,496,552 | 12,103,400 | 15,684,812 | 68,691,421 |
| Section A - Adjusted Net Income | (A) Prior Year |
(B) Current Year (optional) |
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| 1 | Net short-term capital gain | 1 | ||||
| 2 | Recoveries of prior-year distributions | 2 | ||||
| 3 | Other gross income (see instructions) | 3 | ||||
| 4 | Add lines 1 through 3 | 4 | ||||
| 5 | Depreciation and depletion | 5 | ||||
| 6 | Portion of operating expenses paid or incurred for production or collection of gross income or for management, conservation, or maintenance of property held for production of income (see instructions) | 6 | ||||
| 7 | Other expenses (see instructions) | 7 | ||||
| 8 | Adjusted Net Income (subtract lines 5, 6 and 7 from line 4) | 8 | ||||
| Section B - Minimum Asset Amount | (A) Prior Year |
(B) Current Year (optional) |
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| 1 | Aggregate fair market value of all non-exempt-use assets (see instructions for short tax year or assets held for part of year): | 1 | ||||
| a | Average monthly value of securities | 1a | ||||
| b | Average monthly cash balances | 1b | ||||
| c | Fair market value of other non-exempt-use assets | 1c | ||||
| d | Total (add lines 1a, 1b, and 1c) | 1d | ||||
| e |
Discount claimed for blockage or other factors (explain in detail in Part VI): |
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| 2 | Acquisition indebtedness applicable to non-exempt use assets | 2 | ||||
| 3 | Subtract line 2 from line 1d | 3 | ||||
| 4 | Cash deemed held for exempt use. Enter 0.015 of line 3 (for greater amount, see instructions). | 4 | ||||
| 5 | Net value of non-exempt-use assets (subtract line 4 from line 3) | 5 | ||||
| 6 | Multiply line 5 by 0.035 | 6 | ||||
| 7 | Recoveries of prior-year distributions | 7 | ||||
| 8 | Minimum Asset Amount (add line 7 to line 6) | 8 | ||||
| Section C - Distributable Amount | Current Year | |||||
| 1 | Adjusted net income for prior year (from Section A, line 8, Column A) | 1 | ||||
| 2 | Enter 85% of line 1 | 2 | ||||
| 3 | Minimum asset amount for prior year (from Section B, line 8, Column A) | 3 | ||||
| 4 | Enter greater of line 2 or line 3 | 4 | ||||
| 5 | Income tax imposed in prior year | 5 | ||||
| 6 | Distributable Amount. Subtract line 5 from line 4, unless subject to emergency temporary reduction (see instructions) | 6 | ||||
| Section D - Distributions | Current Year | |
|---|---|---|
| 1 Amounts paid to supported organizations to accomplish exempt purposes | 1 | |
|
2
Amounts paid to perform activity that directly furthers exempt purposes of supported organizations, in excess of income from activity |
2 | |
| 3 Administrative expenses paid to accomplish exempt purposes of supported organizations | 3 | |
| 4 Amounts paid to acquire exempt-use assets | 4 | |
| 5 Qualified set-aside amounts (prior IRS approval required - provide details in Part VI) | 5 | |
| 6 Other distributions (describe in Part VI). See instructions | 6 | |
| 7Total annual distributions. Add lines 1 through 6. | 7 | |
|
8
Distributions to attentive supported organizations to which the organization is responsive (provide details in Part VI). See instructions |
8 | |
| 9 Distributable amount for 2023 from Section C, line 6 | 9 | |
| 10 Line 8 amount divided by Line 9 amount | 10 | |
| Section E - Distribution Allocations (see instructions) |
(i) Excess Distributions |
(ii) Underdistributions Pre-2023 |
(iii) Distributable Amount for 2023 |
|
|---|---|---|---|---|
| 1 Distributable amount for 2023 from Section C, line 6 | ||||
|
2
Underdistributions, if any, for years prior to 2023 (reasonable cause required-- explain in Part VI).
See instructions. |
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| 3 Excess distributions carryover, if any, to 2023: | ||||
| a From 2018....... | ||||
| b From 2019....... | ||||
| c From 2020....... | ||||
| d From 2021....... | ||||
| e From 2022....... | ||||
| fTotal of lines 3a through e | ||||
| g Applied to underdistributions of prior years | ||||
| h Applied to 2023 distributable amount | ||||
|
i
Carryover from 2018 not applied (see instructions) |
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| j Remainder. Subtract lines 3g, 3h, and 3i from line 3f. | ||||
| 4Distributions for 2023 from Section D, line 7: | ||||
| $ | ||||
| a Applied to underdistributions of prior years | ||||
| b Applied to 2023 distributable amount | ||||
| c Remainder. Subtract lines 4a and 4b from line 4. | ||||
|
5
Remaining underdistributions for years prior to 2023, if any. Subtract lines 3g and 4a from line 2. If the amount is greater than zero, explain in Part VI. See instructions. |
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|
6
Remaining underdistributions for 2023. Subtract lines 3h and 4b from line 1. If the amount is greater than zero, explain in Part VI. See instructions. |
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7 Excess distributions carryover to 2024. Add lines 3j and 4c. |
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| 8 Breakdown of line 7: | ||||
| a Excess from 2019..... | ||||
| b Excess from 2020..... | ||||
| c Excess from 2021..... | ||||
| d Excess from 2022..... | ||||
| e Excess from 2023..... | ||||
| Facts And Circumstances Test |
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| Return Reference | Explanation |
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| Return Reference | Explanation |
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| FORM 990, PART VI, SECTION A, LINE 6 | NACAC IS A MEMBERSHIP ASSOCIATION COMPRISED OF INSTITUTIONS, ORGANIZATIONS, AND INDIVIDUALS DEDICATED TO SERVING STUDENTS AS THEY EXPLORE OPTIONS AND MAKE CHOICES ABOUT PURSUING POST-SECONDARY EDUCATION. |
| FORM 990, PART VI, SECTION A, LINE 7A | MEMBERS ARE EITHER VOTING MEMBERS OR NON-VOTING MEMBERS DEPENDENT UPON ELIGIBILITY CRITERIA AS SET FORTH IN THE NACAC BYLAWS. VOTING NACAC MEMBERS ELECT DELEGATES FROM WITHIN THEIR AFFILIATE ORGANIZATIONS TO THE NACAC ASSEMBLY. |
| FORM 990, PART VI, SECTION A, LINE 7B | ELECTION OF ASSOCIATION OFFICERS/DIRECTORS AND AMENDMENTS TO THE CEPP: NACAC'S CODE OF ETHICS AND PROFESSIONAL PRACTICES (REPLACED, IN SEPTEMBER 2020, BY THE GUIDE TO ETHICAL PRACTICE IN COLLEGE ADMISSION) MUST BE APPROVED BY THE NACAC ASSEMBLY. CHANGES TO THE BYLAWS MUST BE APPROVED BY THE GENERAL MEMBERSHIP. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE FORM 990 WAS PREPARED JOINTLY BY AN EXTERNAL ACCOUNTING FIRM AND NACAC STAFF, AND WAS REVIEWED BY NACAC'S CONTROLLER, CHIEF OPERATING OFFICER, AND CHIEF EXECUTIVE OFFICER. IT WAS SHARED WITH THE BOARD OF DIRECTORS PRIOR TO FILING WITH THE IRS. |
| FORM 990, PART VI, SECTION B, LINE 12C | ALL BOARD MEMBERS, EXECUTIVES, DIRECTORS, AND ALL EMPLOYEES ARE REQUIRED TO ANNUALLY REVIEW AND SIGN THE CONFLICT OF INTEREST POLICY. PRIOR TO NACAC BOARD OR COMMITTEE ACTION ON A CONTRACT, LOAN OR OTHER TRANSACTION INVOLVING A CONFLICT OF INTEREST, A COVERED PERSON HAVING A CONFLICT OF INTEREST OR POTENTIAL CONFLICT OF INTEREST AND WHO IS IN ATTENDANCE AT THE MEETING SHALL DISCLOSE TO THE BOARD OF DIRECTORS OR COMMITTEE ALL FACTS MATERIAL TO THE CONFLICT OF INTEREST. SUCH DISCLOSURE SHALL BE REFLECTED IN THE MINUTES OF THE MEETING. A COVERED PERSON WHO HAS A CONFLICT OF INTEREST SHALL NOT PARTICIPATE IN OR BE PERMITTED TO HEAR THE BOARD'S OR COMMITTEE'S DISCUSSION OF THE MATTER EXCEPT TO DISCLOSE MATERIAL FACTS AND TO RESPOND TO QUESTIONS. SUCH PERSON SHALL NOT ATTEMPT TO EXERT HIS OR HER PERSONAL INFLUENCE WITH RESPECT TO THE MATTER, EITHER AT OR OUTSIDE THE MEETING. IF IT IS NOT ENTIRELY CLEAR THAT A CONFLICT OF INTEREST EXISTS, THE COVERED PERSON WITH THE POTENTIAL CONFLICT OR ANY OTHER PERSON WHO BECOMES AWARE OF THE POTENTIAL CONFLICT MAY DISCLOSE THE CIRCUMSTANCES TO THE BOARD OF DIRECTORS, WHO SHALL DETERMINE WHETHER THERE EXISTS A CONFLICT OF INTEREST THAT IS SUBJECT TO THIS POLICY. |
| FORM 990, PART VI, SECTION B, LINE 15A | THE COMPENSATION COMMITTEE OF THE NACAC BOARD OF DIRECTORS IS RESPONSIBLE FOR CONDUCTING THE REVIEW OF MATERIALS ASSOCIATED WITH THE CHIEF EXECUTIVE OFFICER'S (CEO) ANNUAL PERFORMANCE EVALUATION AND REACHING AGREEMENT ABOUT ANNUAL COMPENSATION. THE COMPENSATION COMMITTEE MUST USE THE CEO'S CONTRACT AS A GUIDE WHEN DECIDING UPON A BONUS AND ANNUAL SALARY ADJUSTMENT. IN THE CONTRACT CREATION/RENEWAL PROCESS, THE BOARD UTILIZES DUE DILIGENCE TO COLLECT DATA FOR CONTRACT NEGOTIATION. EXAMPLES OF DUE DILIGENCE ACTIVITIES INCLUDE, BUT ARE NOT LIMITED TO, COMPARABILITY DATA FROM HIGHER EDUCATION ASSOCIATIONS, A 360-REVIEW, DOCUMENTATION OF CHANGES TO THE ORGANIZATION AND INDUSTRY, ETC. ANNUALLY, THE BOARD CHAIR, ON BEHALF OF THE COMPENSATION COMMITTEE, WILL SOLICIT ANONYMOUS FEEDBACK FROM THE BOARD OF DIRECTORS AND LEADERSHIP TEAM (STAFF) IN THE FORM OF A SURVEY TO AID IN THE EVALUATION OF THE CEO'S PERFORMANCE AGAINST THEIR GOALS AND CORE COMPETENCIES. THE FEEDBACK IS SUBMITTED TO, AND MONITORED BY, THE COMPENSATION COMMITTEE. THE COMPENSATION COMMITTEE MUST USE THE CEO'S CONTRACT AS A GUIDE WHEN DECIDING UPON A BONUS AND ANNUAL SALARY ADJUSTMENT. THE DECISION MUST BE DOCUMENTED BY A VOTE OF THE COMPENSATION COMMITTEE AND A DOCUMENTED REVIEW OF THE CEO'S PERFORMANCE EACH YEAR. THIS PROCESS WAS LAST PERFORMED IN DECEMBER 2023. THE CEO WILL HAVE A MEETING WITH THE CHAIR-ELECT, CHAIR OF THE BOARD, AND IMMEDIATE PAST CHAIR TO DISCUSS THEIR ANNUAL PERFORMANCE EVALUATION. DURING OR FOLLOWING THIS CONVERSATION, THE CEO WILL BE INFORMED OF THEIR ADJUSTMENT FOR THE FOLLOWING YEAR. THE CHAIR OF THE BOARD THEN INFORMS THE NACAC HR/FINANCE AND ACCOUNTING DEPARTMENT TO DOCUMENT THE SALARY ADJUSTMENT FOR UPCOMING PAYROLL. IN ACCORDANCE WITH NACAC'S ORGANIZATIONAL COMPENSATION PROCESS, THE CEO MUST EXECUTE THEIR SALARY LETTER FOR COMPLIANCE PURPOSES. THE DECISION OF THE COMPENSATION COMMITTEE IS THEN ENSHRINED IN THE FISCAL YEAR BUDGET, UPON WHICH THE FULL BOARD VOTES. |
| FORM 990, PART VI, SECTION C, LINE 19 | NACAC'S GOVERNING DOCUMENTS, CONFLICT-OF-INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. |
| FORM 990, PART IX, LINE 11G | OTHER LABOR: PROGRAM SERVICE EXPENSES 42,409. MANAGEMENT AND GENERAL EXPENSES 29,300. FUNDRAISING EXPENSES 7,568. TOTAL EXPENSES 79,277. RETRIEVAL: PROGRAM SERVICE EXPENSES 301,970. MANAGEMENT AND GENERAL EXPENSES 208,625. FUNDRAISING EXPENSES 53,885. TOTAL EXPENSES 564,480. OTHER PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 794,635. MANAGEMENT AND GENERAL EXPENSES 534,441. FUNDRAISING EXPENSES 165,519. TOTAL EXPENSES 1,494,595. |
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