TY 2023 Form 990

(A) Name and title	(B) Average hours per week (list any hours for related organizations below dotted line)	(C) Position (do not check more than one box, unless person is both an officer and a director/trustee)	(E) Reportable compensation from related organizations (W-2/1099-MISC/1099-NEC)
(1) KARA FREEMAN...................................................................... PRESIDENT & CEO	35.00 .................	X	X	260,242	30,168
(2) RUSS HANNAH...................................................................... BOARD CHAIR	1.00 .................	X	X	0	0
(3) NICOLE TRUFANT...................................................................... IMMEDIATE PAST CHAIR	1.00 .................	X	X	0	0
(4) TASHNI-ANN DUBROY...................................................................... BOARD VICE CHAIR	1.00 .................	X	X	0	0
(5) CHOI HALLADAY...................................................................... SECRETARY	1.00 .................	X	X	0	0
(6) ANGELA BLANTON...................................................................... DIRECTOR	1.00 .................	X		0	0
(7) BRAD BACA...................................................................... DIRECTOR	1.00 .................	X		0	0
(8) CLAIR KNAPP...................................................................... DIRECTOR	1.00 .................	X		0	0
(9) DAWN ALSTON...................................................................... DIRECTOR	1.00 .................	X		0	0
(10) DARRELL DUNCAN...................................................................... DIRECTOR	1.00 .................	X		0	0
(11) GUADALUPE VALENCIA-SKANES...................................................................... DIRECTOR	1.00 .................	X		0	0
(12) JAMES S MATTEO...................................................................... DIRECTOR	1.00 .................	X		0	0
(13) JOHN W CRAWFORD...................................................................... DIRECTOR	1.00 .................	X		0	0
(14) JOSE C RODRIGUEZ...................................................................... DIRECTOR	1.00 .................	X		0	0
(15) KELLY FOX...................................................................... DIRECTOR	1.00 .................	X		0	0
(16) LAURA HUBBARD...................................................................... DIRECTOR	1.00 .................	X		0	0
(17) MARK VOLPATTI...................................................................... DIRECTOR	1.00 .................	X		0	0

(A) Name and title	(B) Average hours per week (list any hours for related organizations below dotted line)	(C) Position (do not check more than one box, unless person is both an officer and a director/trustee)	(E) Reportable compensation from related organizations (W-2/1099-MISC/1099-NEC)
(18) MICHAEL D VOLNA........................................................................ DIRECTOR	1.00 .......................	X				0	0
(19) MICHAEL CLUNE........................................................................ DIRECTOR	1.00 .......................	X				0	0
(20) NOEL A SLOAN........................................................................ DIRECTOR	1.00 .......................	X				0	0
(21) ROMAYNE L BOTTI........................................................................ DIRECTOR	1.00 .......................	X				0	0
(22) SHARI MAYER........................................................................ DIRECTOR	1.00 .......................	X				0	0
(23) SARA F THORNDIKE........................................................................ DIRECTOR	1.00 .......................	X				0	0
(24) JAMES HUNDRIESER........................................................................ VP, CONSUL. & BUS. DEV.-UNTIL 01/24	35.00 .......................		X			397,882	44,377
(25) TADELETCH YIMAM........................................................................ VICE PRESIDENT, DIGITAL ENGAGEMENT	35.00 .......................		X			213,876	30,329
(26) TYRENE HARLASON........................................................................ VP, FIN. SVCS & ADMIN.-UNTIL 2/24	35.00 .......................		X			214,008	51,107
(27) TIMOTHY ROBERSON........................................................................ VICE PRESIDENT, LEADERSHIP DEVELOPMENT	35.00 .......................		X			184,614	33,095
(28) ELIZABETH CLARK........................................................................ VICE PRESIDENT, POLICY& RESEARCH	35.00 .......................		X			239,536	29,811
(29) KELLI RAINEY........................................................................ SENIOR DIRECTOR, GRANTS PROGRAMS	35.00 .......................			X		150,998	26,173
(30) LINDSAY WAYT........................................................................ SENIOR DIRECTOR, ANALYTICS	35.00 .......................			X		134,706	22,939
(31) SUSAN MENDITTO........................................................................ SENIOR DIRECTOR, ACCOUNTING POLICY	35.00 .......................			X		185,753	36,874
(32) BARBARA DIROCCO........................................................................ SENIOR DIRECTOR, MEETINGS AND EVENTS	35.00 .......................			X		134,331	22,977
(33) KENNETH REDD........................................................................ SENIOR DIRECTOR, RESEARCH &POLICY ANALYSIS	35.00 .......................			X		131,697	28,354
(34) LYNNE SCHAEFER........................................................................ FORMER INTERIM PRESIDENT & CEO	35.00 .......................				X	155,294	9,307

(A) Name and business address	(B) Description of services	(C) Compensation
SOVA SOLUTIONS 1201 SEVEN LOCKS RD 1025 STE 360 ROCKVILLE,MD20854	CONSULTING SERVICES	267,041
MARY WHEELER 201 DOVE RANCH RD BAYFIELD,CO81112	CONSULTING SERVICES	219,988
TERRI DAUTCHER 2321 TURK ROAD DOYLESTOWN,PA18901	CONSULTING SERVICES	130,450
MARC MATTHEWS 500 S MILL ST LEXINGTON,KY40508	CONSULTING SERVICES	128,477
CAPITOL TAX PARTNERS 101 CONSTITUTION AVE NW STE 675 E WASHINGTON,DC20001	CONSULTING SERVICES	120,000
2 Total number of independent contractors (including but not limited to those listed above) who received more than $100,000 of compensation from the organization 9

- TIN:

SCHEDULE A
(Form 990)

Department of the Treasury
Internal Revenue Service

Public Charity Status and Public Support

Complete if the organization is a section 501(c)(3) organization or a section 4947(a)(1) nonexempt charitable trust.
right arrow

Attach to Form 990 or Form 990-EZ.
right arrow

Go to www.irs.gov/Form990 for instructions and the latest information.

OMB No. 1545-0047

2023

Open to Public
Inspection

Name of the organization

NATIONAL ASSOCIATION OF COLLEGE AND
UNIVERSITY BUSINESS OFFICERS

Employer identification number

53-0259954

Part I

Reason for Public Charity Status (All organizations must complete this part.) See instructions.

The organization is not a private foundation because it is: (For lines 1 through 12, check only one box.)

A church, convention of churches, or association of churches described in section 170(b)(1)(A)(i).

A school described in section 170(b)(1)(A)(ii). (Attach Schedule E (Form 990).)

A hospital or a cooperative hospital service organization described in section 170(b)(1)(A)(iii).

A medical research organization operated in conjunction with a hospital described in section 170(b)(1)(A)(iii). Enter the hospital's name, city, and state:

An organization operated for the benefit of a college or university owned or operated by a governmental unit described in section 170(b)(1)(A)(iv). (Complete Part II.)

A federal, state, or local government or governmental unit described in section 170(b)(1)(A)(v).

An organization that normally receives a substantial part of its support from a governmental unit or from the general public described in section 170(b)(1)(A)(vi). (Complete Part II.)

A community trust described in section 170(b)(1)(A)(vi). (Complete Part II.)

An agricultural research organization described in 170(b)(1)(A)(ix) operated in conjunction with a land-grant college or university or a non-land grant college of agriculture. See instructions. Enter the name, city, and state of the college or university:

An organization that normally receives: (1) more than 33 1/3% of its support from contributions, membership fees, and gross receipts from activities related to its exempt functions—subject to certain exceptions, and (2) no more than 33 1/3% of its support from gross investment income and unrelated business taxable income (less section 511 tax) from businesses acquired by the organization after June 30, 1975. See section 509(a)(2). (Complete Part III.)

An organization organized and operated exclusively to test for public safety. See section 509(a)(4).

An organization organized and operated exclusively for the benefit of, to perform the functions of, or to carry out the purposes of one or more publicly supported organizations described in section 509(a)(1) or section 509(a)(2). See section 509(a)(3). Check the box on lines 12a through 12d that describes the type of supporting organization and complete lines 12e, 12f, and 12g.

Type I. A supporting organization operated, supervised, or controlled by its supported organization(s), typically by giving the supported organization(s) the power to regularly appoint or elect a majority of the directors or trustees of the supporting organization. You must complete Part IV, Sections A and B.

Type II. A supporting organization supervised or controlled in connection with its supported organization(s), by having control or management of the supporting organization vested in the same persons that control or manage the supported organization(s). You must complete Part IV, Sections A and C.

Type III functionally integrated. A supporting organization operated in connection with, and functionally integrated with, its supported organization(s) (see instructions). You must complete Part IV, Sections A, D, and E.

Type III non-functionally integrated. A supporting organization operated in connection with its supported organization(s) that is not functionally integrated. The organization generally must satisfy a distribution requirement and an attentiveness requirement (see instructions). You must complete Part IV, Sections A and D, and Part V.

Check this box if the organization received a written determination from the IRS that it is a Type I, Type II, Type III functionally integrated, or Type III non-functionally integrated supporting organization.

Enter the number of supported organizations ...............................

Provide the following information about the supported organization(s).

(i) Name of supported organization	(ii) EIN	(iv) Is the organization listed in your governing document?		(v) Amount of monetary support (see instructions)	(vi) Amount of other support (see instructions)
(i) Name of supported organization	(ii) EIN	Yes	No	(v) Amount of monetary support (see instructions)	(vi) Amount of other support (see instructions)


Total

For Paperwork Reduction Act Notice, see the Instructions for
Form 990 or 990-EZ.

Cat. No. 11285F

Schedule A (Form 990) 2023

Page 2

Part II

Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi)
(Complete only if you checked the box on line 5, 7, or 8 of Part I or if the organization failed to qualify under Part III. If the organization failed to qualify under the tests listed below, please complete Part III.)

Section A. Public Support

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.

Section B. Total Support

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

Gross receipts from related activities, etc. (see instructions) ..................

First 5 years. If the Form 990 is for the organization's first, second, third, fourth, or fifth tax year as a section 501(c)(3) organization, check this box and stop here ........................................ right arrow

Section C. Computation of Public Support Percentage

Public support percentage for 2023 (line 6, column (f) divided by line 11, column (f)) .........

Public support percentage for 2022 Schedule A, Part II, line 14 ...............

16a

33 1/3% support test—2023. If the organization did not check the box on line 13, and line 14 is 33 1/3% or more, check this box
and stop here. The organization qualifies as a publicly supported organization ....................... right arrow

33 1/3% support test—2022. If the organization did not check a box on line 13 or 16a, and line 15 is 33 1/3% or more, check this
box and stop here. The organization qualifies as a publicly supported organization ..................... right arrow

17a

10%-facts-and-circumstances test—2023. If the organization did not check a box on line 13, 16a, or 16b, and line 14 is 10% or more, and if the organization meets the "facts-and-circumstances" test, check this box and stop here. Explain in Part VI how the organization meets the "facts-and-circumstances" test. The organization qualifies as a publicly supported organization ............ right arrow

10%-facts-and-circumstances test—2022. If the organization did not check a box on line 13, 16a, 16b, or 17a, and line 15 is 10% or more, and if the organization meets the "facts-and-circumstances" test, check this box and stop here. Explain in Part VI how the organization meets the "facts-and-circumstances" test. The organization qualifies as a publicly supported organization ............ right arrow

Private foundation. If the organization did not check a box on line 13, 16a, 16b, 17a, or 17b, check this box and see
instructions ..................................................... right arrow

Schedule A (Form 990) 2023

Page 3

Part III

Support Schedule for Organizations Described in Section 509(a)(2)
(Complete only if you checked the box on line 10 of Part I or if the organization failed to qualify under Part II. If the organization fails to qualify under the tests listed below, please complete Part II.)

Section A. Public Support

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.") .	10,781,141	9,329,709	14,735,471	10,982,015	10,408,131	56,236,467
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	5,448,062	2,588,448	3,549,288	5,682,203	5,550,471	22,818,472
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	16,229,203	11,918,157	18,284,759	16,664,218	15,958,602	79,054,939
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.						0
c	Add lines 7a and 7b..						0
8	Public support. (Subtract line 7c from line 6.)						79,054,939

Section B. Total Support

Calendar year (or fiscal year beginning in)		(a) 2019	(b) 2020	(c) 2021	(d) 2022	(e) 2023	(f) Total
9	Amounts from line 6...	16,229,203	11,918,157	18,284,759	16,664,218	15,958,602	79,054,939
10a	Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources..	697,715	327,726	602,395	672,974	564,681	2,865,491
b	Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975.	443,534	103,646	172,765	167,073	189,387	1,076,405
c	Add lines 10a and 10b.	1,141,249	431,372	775,160	840,047	754,068	3,941,896
11	Net income from unrelated business activities not included on line 10b, whether or not the business is regularly carried on.
12	Other income. Do not include gain or loss from the sale of capital assets (Explain in Part VI.) ..	35,940	373	47,453	325,100	126,787	535,653
13	Total support. (Add lines 9, 10c, 11, and 12.)..	17,406,392	12,349,902	19,107,372	17,829,365	16,839,457	83,532,488

First 5 years. If the Form 990 is for the organization's first, second, third, fourth, or fifth tax year as a section 501(c)(3) organization, check this box and stop here................................................. right arrow

Section C. Computation of Public Support Percentage

Public support percentage for 2023 (line 8, column (f) divided by line 13, column (f)) .........

94.640 %

Public support percentage from 2022 Schedule A, Part III, line 15 ...............

93.440 %

Section D. Computation of Investment Income Percentage

Investment income percentage for 2023 (line 10c, column (f) divided by line 13, column (f)) ......

4.720 %

Investment income percentage from 2022 Schedule A, Part III, line 17 .............

5.140 %

19a

33 1/3% support tests-2023. If the organization did not check the box on line 14, and line 15 is more than 33 1/3%, and line 17 is not more than 33 1/3%, check this box and stop here. The organization qualifies as a publicly supported organization ....... right arrow

33 1/3 % support tests—2022. If the organization did not check a box on line 14 or line 19a, and line 16 is more than 33 1/3% and line 18 is not more than 33 1/3%, check this box and stop here. The organization qualifies as a publicly supported organization ..... right arrow

Private foundation. If the organization did not check a box on line 14, 19a, or 19b, check this box and see instructions .... right arrow

Schedule A (Form 990) 2023

Page 4

Part IV

Supporting Organizations

(Complete only if you checked a box on line 12 of Part I. If you checked box 12a, of Part I, complete Sections A and B. If you checked box 12b, of Part I, complete Sections A and C. If you checked box 12c, of Part I, complete Sections A, D, and E. If you checked box12d, of Part I, complete Sections A and D, and complete Part V.)

Section A. All Supporting Organizations

Yes

Are all of the organization’s supported organizations listed by name in the organization’s governing documents?
If "No," describe in Part VI how the supported organizations are designated. If designated by class or purpose,
describe the designation. If historic and continuing relationship, explain.

Did the organization have any supported organization that does not have an IRS determination of status under section 509(a)(1) or (2)? If "Yes," explain in Part VI how the organization determined that the supported organization was described in section 509(a)(1) or (2).

Did the organization have a supported organization described in section 501(c)(4), (5), or (6)? If "Yes," answer lines 3b and 3c below.

Did the organization confirm that each supported organization qualified under section 501(c)(4), (5), or (6) and satisfied the public support tests under section 509(a)(2)? If "Yes," describe in Part VI when and how the organization made the determination.

Did the organization ensure that all support to such organizations was used exclusively for section 170(c)(2)(B) purposes? If "Yes," explain in Part VI what controls the organization put in place to ensure such use.

Was any supported organization not organized in the United States ("foreign supported organization")? If “Yes” and if you checked box 12a or 12b in Part I, answer lines 4b and 4c below.

Did the organization have ultimate control and discretion in deciding whether to make grants to the foreign supported organization? If “Yes,” describe in Part VI how the organization had such control and discretion despite being controlled or supervised by or in connection with its supported organizations.

Did the organization support any foreign supported organization that does not have an IRS determination under sections 501(c)(3) and 509(a)(1) or (2)? If “Yes,” explain in Part VI what controls the organization used to ensure that all support to the foreign supported organization was used exclusively for section 170(c)(2)(B) purposes.

Did the organization add, substitute, or remove any supported organizations during the tax year? If “Yes,” answer lines 5b and 5c below (if applicable). Also, provide detail in Part VI, including (i) the names and EIN numbers of the supported organizations added, substituted, or removed; (ii) the reasons for each such action; (iii) the authority under the organization's organizing document authorizing such action; and (iv) how the action was accomplished (such as by amendment to the organizing document).

Type I or Type II only. Was any added or substituted supported organization part of a class already designated in the organization's organizing document?

Substitutions only. Was the substitution the result of an event beyond the organization's control?

Did the organization provide support (whether in the form of grants or the provision of services or facilities) to anyone other than (i) its supported organizations, (ii) individuals that are part of the charitable class benefited by one or more of its supported organizations, or (iii) other supporting organizations that also support or benefit one or more of the filing organization’s supported organizations? If “Yes,” provide detail in Part VI.

Did the organization provide a grant, loan, compensation, or other similar payment to a substantial contributor (defined in section 4958(c)(3)(C)), a family member of a substantial contributor, or a 35% controlled entity with regard to a substantial contributor? If “Yes,” complete Part I of Schedule L (Form 990) .

Did the organization make a loan to a disqualified person (as defined in section 4958) not described on line 7? If “Yes,” complete Part I of Schedule L (Form 990).

Was the organization controlled directly or indirectly at any time during the tax year by one or more disqualified persons, as defined in section 4946 (other than foundation managers and organizations described in section 509(a)(1) or (2))? If “Yes,” provide detail in Part VI.

Did one or more disqualified persons (as defined on line 9a) hold a controlling interest in any entity in which the supporting organization had an interest? If “Yes,” provide detail in Part VI.

Did a disqualified person (as defined on line 9a) have an ownership interest in, or derive any personal benefit from, assets in which the supporting organization also had an interest? If “Yes,” provide detail in Part VI.

10a

Was the organization subject to the excess business holdings rules of section 4943 because of section 4943(f) (regarding certain Type II supporting organizations, and all Type III non-functionally integrated supporting organizations)? If “Yes,” answer line 10b below.

10a

Did the organization have any excess business holdings in the tax year? (Use Schedule C, Form 4720, to determine whether the organization had excess business holdings).

10b

Schedule A (Form 990) 2023

Page 5

Part IV

Supporting Organizations (continued)

Yes

Has the organization accepted a gift or contribution from any of the following persons?

A person who directly or indirectly controls, either alone or together with persons described on lines 11b and 11c below, the governing body of a supported organization?

11a

A family member of a person described on 11a above?

11b

A 35% controlled entity of a person described on line 11a or 11b above? If “Yes” to 11a, 11b, or 11c, provide detail in Part VI.

11c

Section B. Type I Supporting Organizations

Yes

Did the officers, directors, trustees, or membership of one or more supported organizations have the power to regularly appoint or elect at least a majority of the organization’s directors or trustees at all times during the tax year? If “No,” describe in Part VI how the supported organization(s) effectively operated, supervised, or controlled the organization’s activities. If the organization had more than one supported organization, describe how the powers to appoint and/or remove directors or trustees were allocated among the supported organizations and what conditions or restrictions, if any, applied to such powers during the tax year.

Did the organization operate for the benefit of any supported organization other than the supported organization(s) that operated, supervised, or controlled the supporting organization? If “Yes,” explain in Part VI how providing such benefit carried out the purposes of the supported organization(s) that operated, supervised or controlled the supporting organization.

Section C. Type II Supporting Organizations

Yes

Were a majority of the organization’s directors or trustees during the tax year also a majority of the directors or trustees of each of the organization’s supported organization(s)? If “No,” describe in Part VI how control or management of the supporting organization was vested in the same persons that controlled or managed the supported organization(s).

Section D. All Type III Supporting Organizations

Yes

Did the organization provide to each of its supported organizations, by the last day of the fifth month of the organization’s tax year, (i) a written notice describing the type and amount of support provided during the prior tax year, (ii) a copy of the Form 990 that was most recently filed as of the date of notification, and (iii) copies of the organization’s governing documents in effect on the date of notification, to the extent not previously provided?

Were any of the organization’s officers, directors, or trustees either (i) appointed or elected by the supported organization(s) or (ii) serving on the governing body of a supported organization? If "No," explain in Part VI how the organization maintained a close and continuous working relationship with the supported organization(s).

By reason of the relationship described in line 2 above, did the organization’s supported organizations have a significant voice in the organization’s investment policies and in directing the use of the organization’s income or assets at all times during the tax year? If "Yes," describe in Part VI the role the organization’s supported organizations played in this regard.

Section E. Type III Functionally-Integrated Supporting Organizations

Check the box next to the method that the organization used to satisfy the Integral Part Test during the year (see instructions):

The organization satisfied the Activities Test. Complete line 2 below.

The organization is the parent of each of its supported organizations. Complete line 3 below.

The organization supported a governmental entity. Describe in Part VI how you supported a government entity (see instructions)

Activities Test. Answer lines 2a and 2b below.

Yes

Did substantially all of the organization’s activities during the tax year directly further the exempt purposes of the supported organization(s) to which the organization was responsive? If "Yes," then in Part VI identify those supported organizations and explain how these activities directly furthered their exempt purposes, how the organization was responsive to those supported organizations, and how the organization determined that these activities constituted substantially all of its activities.

Did the activities described on line 2a, above constitute activities that, but for the organization’s involvement, one or more of the organization’s supported organization(s) would have been engaged in? If "Yes," explain in Part VI the reasons for the organization’s position that its supported organization(s) would have engaged in these activities but for the organization’s involvement.

Parent of Supported Organizations. Answer lines 3a and 3b below.

Did the organization have the power to regularly appoint or elect a majority of the officers, directors, or trustees of each of the supported organizations?If "Yes" or "No", provide details in Part VI.

Did the organization exercise a substantial degree of direction over the policies, programs and activities of each of its supported organizations? If "Yes," describe in Part VI. the role played by the organization in this regard.

Schedule A (Form 990) 2023

Page 6

Part V

Type III Non-Functionally Integrated 509(a)(3) Supporting Organizations

Check here if the organization satisfied the Integral Part Test as a qualifying trust on Nov. 20, 1970 (explain in Part VI). See instructions. All other Type III non-functionally integrated supporting organizations must complete Sections A through E.

	Section A - Adjusted Net Income		(A) Prior Year	(B) Current Year (optional)
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)
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):
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

Check here if the current year is the organization's first as a non-functionally-integrated Type III supporting organization (see instructions)

Schedule A (Form 990) 2023

Page 7

Part V

Type III Non-Functionally Integrated 509(a)(3) Supporting Organizations(continued)

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.
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)
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.
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.
7 Excess distributions carryover to 2024. Add lines 3j and 4c.
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.....

Schedule A (Form 990) (2023)

Schedule A (Form 990) 2023

Page 8

Part VI

Supplemental Information. Provide the explanations required by Part II, line 10; Part II, line 17a or 17b; Part III, line 12; Part IV, Section A, lines 1, 2, 3b, 3c, 4b, 4c, 5a, 6, 9a, 9b, 9c, 11a, 11b, and 11c; Part IV, Section B, lines 1 and 2; Part IV, Section C, line 1; Part IV, Section D, lines 2 and 3; Part IV, Section E, lines 1c, 2a, 2b, 3a and 3b; Part V, line 1; Part V, Section B, line 1e; Part V Section D, lines 5, 6, and 8; and Part V, Section E, lines 2, 5, and 6. Also complete this part for any additional information. (See instructions).

Facts And Circumstances Test

Return Reference	Explanation
SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME:	MAILING LIST - 2019 AMOUNT: $ 300. OTHER INCOME - 2019 AMOUNT: $ 35,640. 2020 AMOUNT: $ 373. 2021 AMOUNT: $ 47,453. 2022 AMOUNT: $ 325,100. 2023 AMOUNT: $ 122,337. SHIPPING REVENUE - 2023 AMOUNT: $ 4,450.

Schedule A (Form 990) 2023

Additional Data

Software ID:
Software Version:

- TIN:

Schedule B
(Form 990)

Department of the Treasury
Internal Revenue Service

Schedule of Contributors

Attach to Form 990, 990-EZ, or 990-PF.

Go to www.irs.gov/Form990 for the latest information.

OMB No. 1545-0047

2023

Name of the organization

NATIONAL ASSOCIATION OF COLLEGE AND
UNIVERSITY BUSINESS OFFICERS

Employer identification number

53-0259954

Organization type (check one):

Filers of:

Section:

Form 990 or 990-EZ

501(c)( ) (enter number) organization

4947(a)(1) nonexempt charitable trust not treated as a private foundation

527 political organization

Form 990-PF

501(c)(3) exempt private foundation

4947(a)(1) nonexempt charitable trust treated as a private foundation

501(c)(3) taxable private foundation

Check if your organization is covered by the General Rule or a Special Rule.
Note: Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.

General Rule

For an organization filing Form 990, 990-EZ, or 990-PF that received, during the year, contributions totaling $5,000 or more (in money or other property) from any one contributor. Complete Parts I and II. See instructions for determining a contributor's total contributions.

Special Rules

For an organization described in section 501(c)(3) filing Form 990 or 990-EZ that met the 33¹/3% support test of the regulations
under sections 509(a)(1) and 170(b)(1)(A)(vi), that checked Schedule A (Form 990 or 990-EZ), Part II, line 13, 16a, or 16b, and that received from any one contributor, during the year, total contributions of the greater of (1) $5,000 or (2) 2% of the amount on (i) Form 990, Part VIII, line 1h, or (ii) Form 990-EZ, line 1. Complete Parts I and II.

For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, total contributions of more than $1,000 exclusively for religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals. Complete Parts I, II, and III.

For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, contributions exclusively for religious, charitable, etc., purposes, but no such contributions totaled more than $1,000. If this box is checked, enter here the total contributions that were received during the year for an exclusively religious, charitable, etc., purpose. Don't complete any of the parts unless the General Rule applies to this organization because it received nonexclusively religious, charitable, etc., contributions totaling $5,000 or more during the year ......... Arrow Bullet

Caution: An organization that isn't covered by the General Rule and/or the Special Rules doesn't file Schedule B (Form 990,
990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its Form 990-EZ
or on its Form 990PF, Part I, line 2, to certify that it doesn't meet the filing requirements of Schedule B (Form 990,
990-EZ, or 990-PF).

For Paperwork Reduction Act Notice, see the Instructions
for Form 990, 990-EZ, or 990-PF.

Cat. No. 30613XSchedule B (Form 990) (2023)

Schedule B (Form 990) (2023) Page 2

Name of organization NATIONAL ASSOCIATION OF COLLEGE AND UNIVERSITY BUSINESS OFFICERS

Part I Contributors	Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
RESTRICTED	,	$ RESTRICTED	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
Schedule B (Form 990) (2023)

Schedule B (Form 990) (2023)

Page 3

Name of organization NATIONAL ASSOCIATION OF COLLEGE AND UNIVERSITY BUSINESS OFFICERS		Employer identification number 53-0259954

Part II	Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
Schedule B (Form 990) (2023)

Schedule B (Form 990) (2023)

Page 4


Name of organization NATIONAL ASSOCIATION OF COLLEGE AND UNIVERSITY BUSINESS OFFICERS			Employer identification number 53-0259954
Part III Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) $ Use duplicate copies of Part III if additional space is needed.

(a)
No. from Part I

(b) Purpose of gift

(d) Description of how gift is held

(e) Transfer of gift
Transferee's name, address, and ZIP 4	Relationship of transferor to transferee

(a)
No. from Part I

(b) Purpose of gift

(d) Description of how gift is held

(e) Transfer of gift
Transferee's name, address, and ZIP 4	Relationship of transferor to transferee

(a)
No. from Part I

(b) Purpose of gift

(d) Description of how gift is held

(e) Transfer of gift
Transferee's name, address, and ZIP 4	Relationship of transferor to transferee

(a)
No. from Part I

(b) Purpose of gift

(d) Description of how gift is held

(e) Transfer of gift
Transferee's name, address, and ZIP 4	Relationship of transferor to transferee

Schedule B (Form 990) (2023)

Additional Data

Software ID:
Software Version:

- TIN:

SCHEDULE C
(Form 990)

Department of the Treasury
Internal Revenue Service

Political Campaign and Lobbying Activities

For Organizations Exempt From Income Tax Under section 501(c) and section 527

right arrow

Complete if the organization is described below. right arrow

Attach to Form 990 or Form 990-EZ.
right arrow

Go to www.irs.gov/Form990 for instructions and the latest information.

OMB No. 1545-0047

2022

Open to Public
Inspection

If the organization answered "Yes" on Form 990, Part IV, Line 3, or Form 990-EZ, Part V, line 46 (Political Campaign Activities), then
Round Bullet

Section 501(c)(3) organizations: Complete Parts I-A and B. Do not complete Part I-C.
Round Bullet

Section 501(c) (other than section 501(c)(3)) organizations: Complete Parts I-A and C below. Do not complete Part I-B.
Round Bullet

Section 527 organizations: Complete Part I-A only.
If the organization answered "Yes" on Form 990, Part IV, Line 4, or Form 990-EZ, Part VI, line 47 (Lobbying Activities), then
Round Bullet

Section 501(c)(3) organizations that have filed Form 5768 (election under section 501(h)): Complete Part II-A. Do not complete Part II-B.
Round Bullet

Section 501(c)(3) organizations that have NOT filed Form 5768 (election under section 501(h)): Complete Part II-B. Do not complete Part II-A.
If the organization answered "Yes" on Form 990, Part IV, Line 5 (Proxy Tax) (see separate instructions) or Form 990-EZ, Part V, line 35c (Proxy Tax) (see separate instructions), then
Round Bullet

Section 501(c)(4), (5), or (6) organizations: Complete Part III.

Name of the organization

NATIONAL ASSOCIATION OF COLLEGE AND
UNIVERSITY BUSINESS OFFICERS

Employer identification number

53-0259954

Part I-A

Complete if the organization is exempt under section 501(c) or is a section 527 organization.

Provide a description of the organization’s direct and indirect political campaign activities in Part IV. See instructions for definition of “political campaign activities."

Political campaign activity expenditures. See instructions .................................................................... right arrow

Volunteer hours for political campaign activities. See instructions ..................................................................

Part I-B

Complete if the organization is exempt under section 501(c)(3).

Enter the amount of any excise tax incurred by the organization under section 4955 ................................ right arrow

Enter the amount of any excise tax incurred by organization managers under section 4955 ....................... right arrow

If the organization incurred a section 4955 tax, did it file Form 4720 for this year? .........................................

Yes No

Was a correction made? ......................................................................................................................

Yes No

If "Yes," describe in Part IV.

Part I-C

Complete if the organization is exempt under section 501(c), except section 501(c)(3).

Enter the amount directly expended by the filing organization for section 527 exempt function activities ..... right arrow

Enter the amount of the filing organization's funds contributed to other organizations for section 527 exempt function activities ............................................................................................................................ right arrow

Total exempt function expenditures. Add lines 1 and 2. Enter here and on Form 1120-POL, line 17b........... right arrow

Did the filing organization file Form 1120-POL for this year? ...................................................................

Yes No

Enter the names, addresses and employer identification number (EIN) of all section 527 political organizations to which the filing
organization made payments. For each organization listed, enter the amount paid from the filing organization’s funds. Also enter the amount of political contributions received that were promptly and directly delivered to a separate political organization, such as a separate segregated fund or a political action committee (PAC). If additional space is needed, provide information in Part IV.

(a) Name	(b) Address	(c) EIN	(d) Amount paid from filing organization's funds. If none, enter -0-.	(e) Amount of political contributions received and promptly and directly delivered to a separate political organization. If none, enter -0-.
1
2
3
4
5
6

For Paperwork Reduction Act Notice, see the instructions for Form 990.

Cat. No. 50084S

Schedule C (Form 990) 2022

Page 2

Part II-A

Complete if the organization is exempt under section 501(c)(3) and filed Form 5768 (election under section 501(h)).

A Check right arrow

if the filing organization belongs to an affiliated group (and list in Part IV each affiliated group member's name, address, EIN, expenses, and share of excess lobbying expenditures).
B Check right arrow

if the filing organization checked box A and "limited control" provisions apply.

Limits on Lobbying Expenditures (The term "expenditures" means amounts paid or incurred.)		(a) Filing organization's totals	(b) Affiliated group totals
1a	Total lobbying expenditures to influence public opinion (grass roots lobbying) ......................	0
b	Total lobbying expenditures to influence a legislative body (direct lobbying) ........................	59,402
c	Total lobbying expenditures (add lines 1a and 1b) ............................................................	59,402
d	Other exempt purpose expenditures ...............................................................................	13,927,142
e	Total exempt purpose expenditures (add lines 1c and 1d) ..................................................	13,986,544
f	Lobbying nontaxable amount. Enter the amount from the following table in both columns.	849,327
	If the amount on line 1e, column (a) or (b) is:The lobbying nontaxable amount is:
	Not over $500,00020% of the amount on line 1e.
	Over $500,000 but not over $1,000,000$100,000 plus 15% of the excess over $500,000.
	Over $1,000,000 but not over $1,500,000$175,000 plus 10% of the excess over $1,000,000.
	Over $1,500,000 but not over $17,000,000$225,000 plus 5% of the excess over $1,500,000.
	Over $17,000,000$1,000,000.

g	Grassroots nontaxable amount (enter 25% of line 1f) .................................................	212,332
h	Subtract line 1g from line 1a. If zero or less, enter -0-. ................................................	0
i	Subtract line 1f from line 1c. If zero or less, enter -0-. ................................................	0
j	If there is an amount other than zero on either line 1h or line 1i, did the organization file Form 4720 reporting section 4911 tax for this year? ...................................................................................................................		Yes No

4-Year Averaging Period Under Section 501(h) (Some organizations that made a section 501(h) election do not have to complete all of the five columns below. See the separate instructions for lines 2a through 2f.)
Lobbying Expenditures During 4-Year Averaging Period
	Calendar year (or fiscal year beginning in)	(a) 2019	(b) 2020	(c) 2021	(d) 2022	(e) Total

2a	Lobbying nontaxable amount	557,007	617,730	773,749	849,327	2,797,813

b	Lobbying ceiling amount (150% of line 2a, column(e))					4,196,720

c	Total lobbying expenditures	87,497	73,962	71,850	59,402	292,711

d	Grassroots nontaxable amount	139,252	154,433	193,437	212,332	699,454

e	Grassroots ceiling amount (150% of line 2d, column (e))					1,049,181

f	Grassroots lobbying expenditures

Schedule C (Form 990) 2022

Page 3

Part II-B

Complete if the organization is exempt under section 501(c)(3) and has NOT filed Form 5768 (election under section 501(h)).

For each "Yes" response on lines 1a through 1i below, provide in Part IV a detailed description of the lobbying activity.

(a)

Yes|No

(b)

Amount

During the year, did the filing organization attempt to influence foreign, national, state or local legislation, including any attempt to influence public opinion on a legislative matter or referendum, through the use of:

Volunteers? ...........................................................................................................

Paid staff or management (include compensation in expenses reported on lines 1c through 1i)? ........

Media advertisements? ...................................................................................................

Mailings to members, legislators, or the public? .............................................................................

Publications, or published or broadcast statements? ...........................................................

Grants to other organizations for lobbying purposes? ..........................................................

Direct contact with legislators, their staffs, government officials, or a legislative body? .......................

Rallies, demonstrations, seminars, conventions, speeches, lectures, or any similar means? ..................

Other activities? ...................................................................................................................

Total. Add lines 1c through 1i ....................................................................................................

Did the activities in line 1 cause the organization to be not described in section 501(c)(3)? .....

If "Yes," enter the amount of any tax incurred under section 4912 ...........................................

If "Yes," enter the amount of any tax incurred by organization managers under section 4912 ...................

If the filing organization incurred a section 4912 tax, did it file Form 4720 for this year? ........................

Part III-A

Complete if the organization is exempt under section 501(c)(4), section 501(c)(5), or section 501(c)(6).

Yes

Were substantially all (90% or more) dues received nondeductible by members? ...............................................

Did the organization make only in-house lobbying expenditures of $2,000 or less? ............................................

Did the organization agree to carry over lobbying and political expenditures from the prior year? .................................

Part III-B

Complete if the organization is exempt under section 501(c)(4), section 501(c)(5), or section 501(c)(6) and if either (a) BOTH Part III-A, lines 1 and 2, are answered "No" OR (b) Part III-A, line 3, is answered “Yes."

Dues, assessments and similar amounts from members ......................................................................

Section 162(e) nondeductible lobbying and political expenditures (do not include amounts of political expenses for which the section 527(f) tax was paid).

Current year .............................................................................................................................

Carryover from last year ............................................................................................................

Total ...........................................................................................................................................

Aggregate amount reported in section 6033(e)(1)(A) notices of nondeductible section 162(e) dues .

If notices were sent and the amount on line 2c exceeds the amount on line 3, what portion of the excess does the organization agree to carryover to the reasonable estimate of nondeductible lobbying and political expenditure next year? ......................................................................................................................

Taxable amount of lobbying and political expenditures. See Instructions .........................................

Part IV

Supplemental Information

Provide the descriptions required for Part l-A, line 1; Part l-B, line 4; Part l-C, line 5; Part II-A (affiliated group list); Part II-A, lines 1 and 2 (see instructions), and Part ll-B, line 1. Also, complete this part for any additional information.

Return Reference	Explanation

Schedule C (Form 990) 2022

Additional Data

Software ID:
Software Version:

- TIN:

SCHEDULE D
(Form 990)

Department of the Treasury
Internal Revenue Service

Supplemental Financial Statements

Complete if the organization answered "Yes," on Form 990,
Part IV, line 6, 7, 8, 9, 10, 11a, 11b, 11c, 11d, 11e, 11f, 12a, or 12b.
right arrow

Attach to Form 990.
right arrow

Go to www.irs.gov/Form990 for instructions and the latest information.

OMB No. 1545-0047

2022

Open to Public Inspection

Name of the organization

NATIONAL ASSOCIATION OF COLLEGE AND
UNIVERSITY BUSINESS OFFICERS

Employer identification number

53-0259954

Part I

Organizations Maintaining Donor Advised Funds or Other Similar Funds or Accounts. Complete if the organization answered "Yes" on Form 990, Part IV, line 6.

		(a) Donor advised funds	(b) Funds and other accounts
1	Total number at end of year .........
2	Aggregate value of contributions to (during year)
3	Aggregate value of grants from (during year)
4	Aggregate value at end of year ........

Did the organization inform all donors and donor advisors in writing that the assets held in donor advised funds are the organization’s property, subject to the organization’s exclusive legal control? ............

Yes No

Did the organization inform all grantees, donors, and donor advisors in writing that grant funds can be used only for charitable purposes and not for the benefit of the donor or donor advisor, or for any other purpose conferring impermissible private benefit? ...................................

Yes No

Part II

Conservation Easements.
Complete if the organization answered "Yes" on Form 990, Part IV, line 7.

Purpose(s) of conservation easements held by the organization (check all that apply).

Preservation of land for public use (e.g., recreation or education) Preservation of an historically important land area

Protection of natural habitat Preservation of a certified historic structure

Preservation of open space

Complete lines 2a through 2d if the organization held a qualified conservation contribution in the form of a conservation easement on the last day of the tax year.


a	Total number of conservation easements ......................	2a
b	Total acreage restricted by conservation easements ....................	2b
c	Number of conservation easements on a certified historic structure included in (a) .....	2c
d	Number of conservation easements included in (c) acquired after July 25, 2006, and not on a historic structure listed in the National Register ...	2d

Number of conservation easements modified, transferred, released, extinguished, or terminated by the organization during the
tax year right arrow

Number of states where property subject to conservation easement is located right arrow

Does the organization have a written policy regarding the periodic monitoring, inspection, handling of violations, and enforcement of the conservation easements it holds? ............

Yes No

Staff and volunteer hours devoted to monitoring, inspecting, handling of violations, and enforcing conservation easements during the year
right arrow

Amount of expenses incurred in monitoring, inspecting, handling of violations, and enforcing conservation easements during the year
right arrow

Does each conservation easement reported on line 2(d) above satisfy the requirements of section 170(h)(4)(B)(i) and section 170(h)(4)(B)(ii)? .............................

Yes No

In Part XIII, describe how the organization reports conservation easements in its revenue and expense statement, and
balance sheet, and include, if applicable, the text of the footnote to the organization’s financial statements that describes
the organization’s accounting for conservation easements.

Part III

Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets.
Complete if the organization answered "Yes" on Form 990, Part IV, line 8.

If the organization elected, as permitted under FASB ASC 958, not to report in its revenue statement and balance sheet works of art, historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service, provide, in Part XIII, the text of the footnote to its financial statements that describes these items.

If the organization elected, as permitted under FASB ASC 958, to report in its revenue statement and balance sheet works of art, historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service, provide the following amounts relating to these items:

(i)

Revenue included on Form 990, Part VIII, line 1 ......................... right arrow

(ii)

Assets included in Form 990, Part X ............................... right arrow

If the organization received or held works of art, historical treasures, or other similar assets for financial gain, provide the
following amounts required to be reported under FASB ASC 958 relating to these items:

Revenue included on Form 990, Part VIII, line 1 .......................... right arrow

Assets included in Form 990, Part X ............................... right arrow

For Paperwork Reduction Act Notice, see the Instructions for Form 990.

Cat. No. 52283D

Schedule D (Form 990) 2022

Page 2

Part III

Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets (continued)

Using the organization’s acquisition, accession, and other records, check any of the following that are a significant use of its collection items (check all that apply):

Public exhibition

Loan or exchange programs

Scholarly research

Other

Preservation for future generations

Provide a description of the organization’s collections and explain how they further the organization’s exempt purpose in
Part XIII.

During the year, did the organization solicit or receive donations of art, historical treasures or other similar
assets to be sold to raise funds rather than to be maintained as part of the organization’s collection?...

Yes No

Part IV

Escrow and Custodial Arrangements. Complete if the organization answered "Yes" on Form 990, Part IV, line 9, or reported an amount on Form 990, Part X, line 21.

Is the organization an agent, trustee, custodian or other intermediary for contributions or other assets not
included on Form 990, Part X? ....................................

Yes No


b	If "Yes," explain the arrangement in Part XIII and complete the following table:		Amount
c	Beginning balance .............................	1c
d	Additions during the year ............................	1d
e	Distributions during the year ..........................	1e
f	Ending balance ................................	1f

Did the organization include an amount on Form 990, Part X, line 21, for escrow or custodial account liability? ...

Yes No

If "Yes," explain the arrangement in Part XIII. Check here if the explanation has been provided in Part XIII ....

Part V

Endowment Funds.
Complete if the organization answered "Yes" on Form 990, Part IV, line 10.

		(a) Current year	(b) Prior year	(c) Two years back	(d) Three years back	(e) Four years back

1a	Beginning of year balance ....	53,006	53,006	53,006	53,123	53,254
b	Contributions ...
c	Net investment earnings, gains, and losses	2,058	988	1,673	903	917
d	Grants or scholarships ...
e	Other expenditures for facilities and programs ...	1,013	988	1,673	1,020	1,048
f	Administrative expenses ....
g	End of year balance ......	54,051	53,006	53,006	53,006	53,123

Provide the estimated percentage of the current year end balance (line 1g, column (a)) held as:

Board designated or quasi-endowment right arrow

0 %

Permanent endowment right arrow

89.730 %

Term endowment right arrow

10.270 %

The percentages on lines 2a, 2b, and 2c should equal 100%.

Are there endowment funds not in the possession of the organization that are held and administered for the
organization by:

Yes

(i) Unrelated organizations .................

3a(i)

(ii) Related organizations .................

3a(ii)

If "Yes" on 3a(ii), are the related organizations listed as required on Schedule R? .........

Describe in Part XIII the intended uses of the organization's endowment funds.

Part VI

Land, Buildings, and Equipment.
Complete if the organization answered "Yes" on Form 990, Part IV, line 11a. See Form 990, Part X, line 10.

Description of property		(a) Cost or other basis (investment)	(b) Cost or other basis (other)	(c) Accumulated depreciation	(d) Book value

1a	Land .....
b	Buildings ....
c	Leasehold improvements	935,031	661,716	273,315
d	Equipment ....	649,783	637,454	12,329
e	Other .....	1,022,274	128,127	894,147
Total. Add lines 1a through 1e. (Column (d) must equal Form 990, Part X, column (B), line 10(c).)..				1,179,791

Schedule D (Form 990) 2022

Page 3

Part VII

Investments - Other Securities.
Complete if the organization answered "Yes" on Form 990, Part IV, line 11b. See Form 990, Part X, line 12.

(a) Description of security or category (including name of security)	(b) Book value	(c) Method of valuation: Cost or end-of-year market value
(1) Financial derivatives.........
(2) Closely-held equity interests........
(3)Other
(A)
(B)
(C)
(D)
(E)
(F)
(G)
(H)
Total. (Column (b) must equal Form 990, Part X, col. (B) line 12.)

Part VIII

Investments - Program Related. Complete if the organization answered 'Yes' on Form 990, Part IV, line 11c. See Form 990, Part X, line 13.

(a) Description of investment	(b) Book value	(c) Method of valuation: Cost or end-of-year market value

(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
Total. (Column (b) must equal Form 990, Part X, col.(B) line 13.)

Part IX

Other Assets.
Complete if the organization answered 'Yes' on Form 990, Part IV, line 11d. See Form 990, Part X, line 15.

(a) Description				(b) Book value
(1)RIGHT OF USE ASSETS				6,017,446
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
Total. (Column (b) must equal Form 990, Part X, col.(B) line 15.)...........				6,017,446

Part X

Other Liabilities.
Complete if the organization answered 'Yes' on Form 990, Part IV, line 11e or 11f. See Form 990, Part X, line 25.

1.(a) Description of liability	(b) Book value
(1) Federal income taxes
LEASE LIABILITIES	7,313,997








Total. (Column (b) must equal Form 990, Part X, col.(B) line 25.)	7,313,997
2. Liability for uncertain tax positions. In Part XIII, provide the text of the footnote to the organization's financial statements that reports the organization's liability for uncertain tax positions under FIN 48 (ASC 740). Check here if the text of the footnote has been provided in Part XIII

Schedule D (Form 990) 2022

Page 4

Part XI Reconciliation of Revenue per Audited Financial Statements With Revenue per Return. Complete if the organization answered 'Yes' on Form 990, Part IV, line 12a.
1	Total revenue, gains, and other support per audited financial statements .......			1	18,544,764
2	Amounts included on line 1 but not on Form 990, Part VIII, line 12:
a	Net unrealized gains (losses) on investments ....	2a	1,697,318
b	Donated services and use of facilities .........	2b	500,000
c	Recoveries of prior year grants ...........	2c
d	Other (Describe in Part XIII.) ...........	2d
e	Add lines 2a through 2d .....................			2e	2,197,318
3	Subtract line 2e from line 1..................			3	16,347,446
4	Amounts included on Form 990, Part VIII, line 12, but not on line 1:
a	Investment expenses not included on Form 990, Part VIII, line 7b .	4a	38,427
b	Other (Describe in Part XIII.) ...........	4b	1,431
c	Add lines 4a and 4b....................			4c	39,858
5	Total revenue. Add lines 3 and 4c. (This must equal Form 990, Part I, line 12.) ......			5	16,387,304

Part XII Reconciliation of Expenses per Audited Financial Statements With Expenses per Return. Complete if the organization answered 'Yes' on Form 990, Part IV, line 12a.
1	Total expenses and losses per audited financial statements ...........			1	17,786,085
2	Amounts included on line 1 but not on Form 990, Part IX, line 25:
a	Donated services and use of facilities .........	2a	500,000
b	Prior year adjustments ............	2b
c	Other losses ................	2c
d	Other (Describe in Part XIII.) ...........	2d	-1,431
e	Add lines 2a through 2d....................			2e	498,569
3	Subtract line 2e from line 1...................			3	17,287,516
4	Amounts included on Form 990, Part IX, line 25, but not on line 1:
a	Investment expenses not included on Form 990, Part VIII, line 7b ..	4a	38,427
b	Other (Describe in Part XIII.) ...........	4b
c	Add lines 4a and 4b.....................			4c	38,427
5	Total expenses. Add lines 3 and 4c. (This must equal Form 990, Part I, line 18.) ......			5	17,325,943

Part XIII

Supplemental Information

Provide the descriptions required for Part II, lines 3, 5, and 9; Part III, lines 1a and 4; Part lV, lines 1b and 2b; Part V, line 4; Part X, line 2; Part XI, lines 2d and 4b; and Part XII, lines 2d and 4b. Also complete this part to provide any additional information.

Return Reference	Explanation
PART V, LINE 4:	EARNINGS ON THE PERMANENTLY RESTRICTED ENDOWMENT NET ASSETS ARE AVAILABLE FOR NACUBO AWARDS PROGRAMS AND INSTITUTIONAL CAPACITY DEVELOPMENT.
PART XI, LINE 4B - OTHER ADJUSTMENTS:	COST OF GOODS SOLD 1,431.
PART XII, LINE 2D - OTHER ADJUSTMENTS:	COST OF GOODS SOLD -1,431.

Schedule D (Form 990) 2022

Additional Data

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Note: To capture the full content of this document, please select landscape mode (11" x 8.5") when printing.

Schedule I
(Form 990)

Department of the Treasury
Internal Revenue Service

Grants and Other Assistance to Organizations,
Governments and Individuals in the United States

Complete if the organization answered "Yes," on Form 990, Part IV, line 21 or 22.
lBullet

Attach to Form 990.
lBullet

Go to www.irs.gov/Form990 for the latest information.

OMB No. 1545-0047

2023

Open to Public
Inspection

Name of the organization
NATIONAL ASSOCIATION OF COLLEGE AND
UNIVERSITY BUSINESS OFFICERS

Employer identification number
53-0259954

Part I

General Information on Grants and Assistance

Does the organization maintain records to substantiate the amount of the grants or assistance, the grantees' eligibility for the grants or assistance, and
the selection criteria used to award the grants or assistance? ........................

Yes No

Describe in Part IV the organization's procedures for monitoring the use of grant funds in the United States.

Part II

Grants and Other Assistance to Domestic Organizations and Domestic Governments. Complete if the organization answered "Yes" on Form 990, Part IV, line 21, for any recipient

that received more than $5,000. Part II can be duplicated if additional space is needed.

(a) Name and address of organization or government	(b) EIN	(c) IRC section (if applicable)	(d) Amount of cash grant	(f) Method of valuation (book, FMV, appraisal, other)	(g) Description of noncash assistance	(h) Purpose of grant or assistance
(1) MINNESOTA STATE COLLEGES AND UNIVERSITIES 30 7TH STREET EAST SUITE 350 ST PAUL,MN55101	41-1687554	GOV'T	20,000	N/A	N/A	STIPEND
(2) BROOKLYN COLLEGE 2900 BEDFORD AVE BROOKLYN,NY11210	11-1904329	GOV'T	11,500	N/A	N/A	STIPEND
(3) CINCINNATI STATE TECHNICAL & COMMUNITY COLLEGE 3520 CENTRAL PARKWAY CINCINNATI,OH45223	31-0784054	GOV'T	11,500	N/A	N/A	STIPEND
(4) KALAMAZOO VALLEY COMMUNITY COLLEGE 6767 WEST O AVENUE KALAMAZOO,MI49003	38-2307720	GOV'T	11,500	N/A	N/A	STIPEND
(5) RESEARCH FOUNDATION FOR STATE UNIV OF NEW YORK PO BOX 9 ALBANY,NY122010009	14-1368361	GOV'T	11,500	N/A	N/A	STIPEND
(6) TARLETON STATE UNIVERSITY BOX T-0120 STEPHENVILLE,TX76402	75-6001870	GOV'T	11,500	N/A	N/A	STIPEND
(7) ATLANTIC CAPE 5100 BLACK HORSE PIKE MAYS LANDING,NJ08330	23-7368159	GOV'T	10,000	N/A	N/A	STIPEND
(8) CALIFORNIA STATE UNIV SAN BERNARDINO 5500 UNIVERSITY PKWY SAN BERNARDINO,CA92407	95-6126562	GOV'T	10,000	N/A	N/A	STIPEND
(9) EL CAMINO COMMUNITY COLLEGE DISTRICT 16007 CRENSHAW BLVD TORRANCE,CA90506	95-3874302	GOV'T	10,000	N/A	N/A	STIPEND
(10) GREAT FALLS COLLEGE MONTANA STATE UNIVERSITY 2100 16TH AVE S GREAT FALLS,MT59405	81-0522790	GOV'T	10,000	N/A	N/A	STIPEND
(11) MUSKINGUM UNIVERSITY 163 STORMONT ST NEW CONCORD,OH43762	31-4379515	GOV'T	10,000	N/A	N/A	STIPEND
(12) NEW MEXICO STATE UNIVERSITY 1510 MENAUL BLVD NW ALBURQUEQUE,NM87107	90-1042021	GOV'T	10,000	N/A	N/A	STIPEND
(13) NORTH PARK UNIVERSITY 3225 W FOSTER AVE CHICAGO,IL60625	36-1557840	GOV'T	10,000	N/A	N/A	STIPEND
(14) RIVERSIDE COMMUNITY COLLEGE DISTRICT PO BOX 907 RIVERSIDE,CA92502	95-2993847	GOV'T	10,000	N/A	N/A	STIPEND
(15) RUTGERS THE STATE UNIVERSITY 33 KNIGHSTBRIDGE ROAD ROOM C281 PISCATAWAY,NJ08854	22-6001086	GOV'T	10,000	N/A	N/A	STIPEND
(16) SAM HOUSTON STATE UNIVERSITY 3 RUTGERS PLZ NEW BRUNSWICK,NJ08901	45-0586766	GOV'T	10,000	N/A	N/A	STIPEND
(17) SONOMA STATE UNIVERSITY 1801 E COTATI AVE ROHNERT PAR,CA94928	68-0338225	GOV'T	10,000	N/A	N/A	STIPEND
(18) SOUTH FLORIDA STATE COLLEGE 600 WEST COLLEGE DRIVE AVON PARK,FL33825	59-1218159	GOV'T	10,000	N/A	N/A	STIPEND
(19) STILLMAN COLLEGE 3601 STILLMAN BLVD TUSCALOOSA,AL35401	63-0315935	GOV'T	10,000	N/A	N/A	STIPEND
(20) WILEY COLLEGE 711 WILEY AVE MARSHALL,TX75670	75-0818183	GOV'T	10,000	N/A	N/A	STIPEND

Enter total number of section 501(c)(3) and government organizations listed in the line 1 table ................. Bullet Image

Enter total number of other organizations listed in the line 1 table ........................ . Bullet Image

For Paperwork Reduction Act Notice, see the Instructions for Form 990.

Cat. No. 50055P

Schedule I (Form 990) 2023

Page 2

Part III

Grants and Other Assistance to Domestic Individuals. Complete if the organization answered "Yes" on Form 990, Part IV, line 22.
Part III can be duplicated if additional space is needed.

(a) Type of grant or assistance	(b) Number of recipients	(c) Amount of cash grant	(d) Amount of noncash assistance	(e) Method of valuation (book, FMV, appraisal, other)	(f) Description of noncash assistance

(1)
(2)
(3)
(4)
(5)
(6)
(7)

Part IV

Supplemental Information. Provide the information required in Part I, line 2; Part III, column (b); and any other additional information.

Return Reference

Explanation

PART I, LINE 2:

THE GRANT RECIPIENTS WERE PART OF A PILOT PROGRAM DESIGNED TO HELP THEM LEARN HOW TO USE AND IMPLEMENT THE TOOLS OF THE STUDENT SUCCESS HUB AT THEIR SCHOOL. THEY RECEIVED SOME FUNDING TO SUPPORT THIS INITIATIVE. THE TOOLS PROVIDED INCLUDE IMPROVING DATA GOVERNANCE, BUDGETING STRATEGIES, AND ANALYZING IPEDS DATA TO ASSESS AND DEVELOP METRICS AND DASHBOARDS INTERNALLY WITHIN THE SCHOOL. THE SELECTION CRITERIA WERE RELATED TO THE OVERALL GOALS OF THE GRANT PROGRAM. WE AIMED FOR A MIX OF PUBLIC REGIONALS, PRIVATE INSTITUTIONS, AND SO ON. THE SELECTED SCHOOLS NEEDED TO BE WILLING AND ABLE TO PARTICIPATE AND PROVIDE FEEDBACK THROUGHOUT THE PROGRAM. FINANCE IS NOT INVOLVED WITH MONITORING THESE GRANTS BECAUSE THEY'RE NOT TRADITIONAL GRANTS. INSTEAD, THEY SERVE AS A VEHICLE TO SUPPORT THE LAUNCH OF THE STUDENT SUCCESS HUB PROGRAM. FOR ACCOUNTING, NACUBO CONDUCTS MONTHLY REVIEWS AND TRACKS ACCURATE EXPENSES TO ENSURE EVERYTHING IS IN ORDER.

Schedule I (Form 990) 2023

Additional Data

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Schedule J
(Form 990)

Department of the Treasury
Internal Revenue Service

Compensation Information

For certain Officers, Directors, Trustees, Key Employees, and Highest
Compensated Employees
medium right arrow graphic

Complete if the organization answered "Yes" on Form 990, Part IV, line 23.
medium right arrow graphic

Attach to Form 990.
medium right arrow graphic

Go to www.irs.gov/Form990 for instructions and the latest information.

OMB No. 1545-0047

2023

Open to Public Inspection

Name of the organization

NATIONAL ASSOCIATION OF COLLEGE AND
UNIVERSITY BUSINESS OFFICERS

Employer identification number

53-0259954

Part I

Questions Regarding Compensation

Yes

Check the appropiate box(es) if the organization provided any of the following to or for a person listed on Form
990, Part VII, Section A, line 1a. Complete Part III to provide any relevant information regarding these items.

First-class or charter travel Housing allowance or residence for personal use

Travel for companions Payments for business use of personal residence

Tax idemnification and gross-up payments Health or social club dues or initiation fees

Discretionary spending account Personal services (e.g., maid, chauffeur, chef)

If any of the boxes on Line 1a are checked, did the organization follow a written policy regarding payment or reimbursement or provision of all of the expenses described above? If "No," complete Part III to explain .....

Did the organization require substantiation prior to reimbursing or allowing expenses incurred by all
directors, trustees, officers, including the CEO/Executive Director, regarding the items checked on Line 1a? ....

Indicate which, if any, of the following the filing organization used to establish the compensation of the
organization's CEO/Executive Director. Check all that apply. Do not check any boxes for methods
used by a related organization to establish compensation of the CEO/Executive Director, but explain in Part III.

Compensation committee Written employment contract

Independent compensation consultant Compensation survey or study

Form 990 of other organizations Approval by the board or compensation committee

During the year, did any person listed on Form 990, Part VII, Section A, line 1a, with respect to the filing organization or a related organization:

Receive a severance payment or change-of-control payment? .............

Participate in, or receive payment from, a supplemental nonqualified retirement plan? .........

Participate in, or receive payment from, an equity-based compensation arrangement? .........

If "Yes" to any of lines 4a-c, list the persons and provide the applicable amounts for each item in Part III.

Only 501(c)(3), 501(c)(4), and 501(c)(29) organizations must complete lines 5-9.

For persons listed on Form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the revenues of:

The organization? ....................

Any related organization? .......................

If "Yes," on line 5a or 5b, describe in Part III.

For persons listed on Form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the net earnings of:

The organization? ..................

Any related organization? ......................

If "Yes," on line 6a or 6b, describe in Part III.

For persons listed on Form 990, Part VII, Section A, line 1a, did the organization provide any nonfixed
payments not described in lines 5 and 6? If "Yes," describe in Part III ............

Were any amounts reported on Form 990, Part VII, paid or accured pursuant to a contract that was
subject to the initial contract exception described in Regulations section 53.4958-4(a)(3)? If "Yes," describe
in Part III ..........................

If "Yes" on line 8, did the organization also follow the rebuttable presumption procedure described in Regulations section 53.4958-6(c)? .........................

For Paperwork Reduction Act Notice, see the Instructions for Form 990.

Cat. No. 50053T

Schedule J (Form 990) 2023

Page 2

Part II

Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees. Use duplicate copies if additional space is needed.

For each individual whose compensation must be reported on Schedule J, report compensation from the organization on row (i) and from related organizations, described in the
instructions, on row (ii). Do not list any individuals that are not listed on Form 990, Part VII.
Note. The sum of columns (B)(i)-(iii) for each listed individual must equal the total amount of Form 990, Part VII, Section A, line 1a, applicable column (D) and (E) amounts for that individual.

(A) Name and Title		(B) Breakdown of W-2, 1099-MISC compensation, and/or 1099-NEC			(C) Retirement and other deferred compensation	(D) Nontaxable benefits	(E) Total of columns (B)(i)-(D)	(F) Compensation in column (B) reported as deferred on prior Form 990
(A) Name and Title		(i) Base compensation	(ii) Bonus & incentive compensation	(iii) Other reportable compensation	(C) Retirement and other deferred compensation	(D) Nontaxable benefits	(E) Total of columns (B)(i)-(D)
1JAMES HUNDRIESER VP, CONSUL. & BUS. DEV.-UNTIL 01/24	(i) (ii)	317,734 ------------- 0	78,960 ------------- 0	1,188 ------------- 0	28,660 ------------- 0	15,717 ------------- 0	442,259 ------------- 0	0 ------------- 0
2KARA FREEMAN PRESIDENT & CEO	(i) (ii)	259,099 ------------- 0	0 ------------- 0	1,143 ------------- 0	26,234 ------------- 0	3,934 ------------- 0	290,410 ------------- 0	0 ------------- 0
3ELIZABETH CLARK VICE PRESIDENT, POLICY& RESEARCH	(i) (ii)	229,236 ------------- 0	10,000 ------------- 0	300 ------------- 0	25,511 ------------- 0	4,300 ------------- 0	269,347 ------------- 0	0 ------------- 0
4TYRENE HARLASON VP, FIN. SVCS & ADMIN.-UNTIL 2/24	(i) (ii)	204,008 ------------- 0	10,000 ------------- 0	0 ------------- 0	23,550 ------------- 0	27,557 ------------- 0	265,115 ------------- 0	0 ------------- 0
5TADELETCH YIMAM VICE PRESIDENT, DIGITAL ENGAGEMENT	(i) (ii)	203,876 ------------- 0	10,000 ------------- 0	0 ------------- 0	19,405 ------------- 0	10,924 ------------- 0	244,205 ------------- 0	0 ------------- 0
6SUSAN MENDITTO SENIOR DIRECTOR, ACCOUNTING POLICY	(i) (ii)	184,565 ------------- 0	0 ------------- 0	1,188 ------------- 0	19,050 ------------- 0	17,824 ------------- 0	222,627 ------------- 0	0 ------------- 0
7TIMOTHY ROBERSON VICE PRESIDENT, LEADERSHIP DEVELOPME	(i) (ii)	174,614 ------------- 0	10,000 ------------- 0	0 ------------- 0	19,396 ------------- 0	13,699 ------------- 0	217,709 ------------- 0	0 ------------- 0
8KELLI RAINEY SENIOR DIRECTOR, GRANTS PROGRAMS	(i) (ii)	145,460 ------------- 0	4,350 ------------- 0	1,188 ------------- 0	16,091 ------------- 0	10,082 ------------- 0	177,171 ------------- 0	0 ------------- 0
9LYNNE SCHAEFER FORMER INTERIM PRESIDENT & CEO	(i) (ii)	114,707 ------------- 0	18,500 ------------- 0	22,087 ------------- 0	9,000 ------------- 0	307 ------------- 0	164,601 ------------- 0	0 ------------- 0
10KENNETH REDD SENIOR DIRECTOR, RESEARCH &POLICY AN	(i) (ii)	130,159 ------------- 0	1,250 ------------- 0	288 ------------- 0	14,345 ------------- 0	14,009 ------------- 0	160,051 ------------- 0	0 ------------- 0
11LINDSAY WAYT SENIOR DIRECTOR, ANALYTICS	(i) (ii)	128,768 ------------- 0	4,750 ------------- 0	1,188 ------------- 0	14,179 ------------- 0	8,760 ------------- 0	157,645 ------------- 0	0 ------------- 0
12BARBARA DIROCCO SENIOR DIRECTOR, MEETINGS AND EVENTS	(i) (ii)	132,993 ------------- 0	150 ------------- 0	1,188 ------------- 0	15,140 ------------- 0	7,837 ------------- 0	157,308 ------------- 0	0 ------------- 0

Schedule J (Form 990) 2023

Page 3

Part III

Supplemental Information

Provide the information, explanation, or descriptions required for Part I, lines 1a, 1b, 3, 4a, 4b, 4c, 5a, 5b, 6a, 6b, 7, and 8, and for Part II. Also complete this part for any additional information.

Return Reference	Explanation

Schedule J (Form 990) 2023

Additional Data

Software ID:
Software Version:

- TIN:

SCHEDULE O
(Form 990)

Department of the Treasury
Internal Revenue Service

Supplemental Information to Form 990 or 990-EZ

Complete to provide information for responses to specific questions on
Form 990 or 990-EZ or to provide any additional information.
Attach to Form 990 or 990-EZ.
Go to www.irs.gov/Form990 for the latest information.

OMB No. 1545-0047

2023

Open to Public
Inspection

Name of the organization

NATIONAL ASSOCIATION OF COLLEGE AND
UNIVERSITY BUSINESS OFFICERS

Employer identification number

53-0259954

Return Reference	Explanation
FORM 990, PART VI, SECTION A, LINE 1A	EXECUTIVE GOVERNANCE COMMITTEE. THE EXECUTIVE GOVERNANCE COMMITTEE SHALL CONSIST OF THE CHAIR OF THE BOARD OF DIRECTORS, THE PRESIDENT, THE SECRETARY, THE VICE CHAIR, THE CHAIR OF THE FINANCE AND AUDIT COMMITTEE, THE PAST BOARD CHAIR, AND UP TO TWO ADDITIONAL MEMBERS WHO SHALL BE DESIGNATED BY THE BOARD CHAIR AND APPROVED BY THE BOARD OF DIRECTORS. THE EXECUTIVE GOVERNANCE COMMITTEE SHALL CARRY OUT THE BOARD'S OVERALL RESPONSIBILITY WITH RESPECT TO OVERSEEING THE BOARD'S COMMITTEE STRUCTURE; MONITORING THE ORIENTATION AND CONTINUING EDUCATION OF DIRECTORS; ENSURING COMPLIANCE WITH LEGAL, ETHICAL, AND CONTRACTUAL OBLIGATIONS; DETERMINING THE COMPENSATION OF NACUBO SENIOR STAFF AND ALL DISQUALIFIED PERSONS; AND EXERCISING THE BOARD'S AUTHORITY WHEN THE BOARD IS NOT IN SESSION EXCEPT AS SPECIFICALLY LIMITED BY THE BOARD, THE BYLAWS, AND APPLICABLE LAW. ALL ACTION APPROVED, TAKEN, AND RATIFIED BY THE COMMITTEE SHALL BE DEEMED TO BE, AND MAY BE CERTIFIED AS BEING APPROVED, TAKEN, AND RATIFIED UNDER AUTHORITY OF THE BOARD. ACTIONS TAKEN BY THE EXECUTIVE GOVERNANCE COMMITTEE SHALL BE REPORTED TO THE BOARD OF DIRECTORS AT ITS NEXT REGULARLY SCHEDULED MEETING. THE EXECUTIVE GOVERNANCE COMMITTEE SHALL BE RESPONSIBLE FOR MAINTAINING AN EFFECTIVE WORKING RELATIONSHIP WITH THE PRESIDENT, SHALL NEGOTIATE WITH THE PRESIDENT HIS OR HER EMPLOYMENT CONTRACT, AND SHALL ANNUALLY EVALUATE THE PRESIDENT'S PERFORMANCE.
FORM 990, PART VI, SECTION A, LINE 6	NATIONAL ASSOCIATION OF COLLEGE AND UNIVERSITY BUSINESS OFFICERS HAS THE FOLLOWING TYPES OF MEMBERS: REGULAR, ASSOCIATE, PROVISIONAL, SUBSCRIBER, AFFILIATE, GOVERNING BOARD AND STUDENT/RETIREE.
FORM 990, PART VI, SECTION A, LINE 7B	DUES INCREASES ARE SUBJECT TO MEMBER APPROVAL.
FORM 990, PART VI, SECTION B, LINE 11B	THE BOARD MEMBERS WILL CONDUCT A THOROUGH REVIEW OF THE 990 BEFORE THE DOCUMENTS ARE FILED WITH THE IRS.
FORM 990, PART VI, SECTION B, LINE 12C	THE HR MONITORS COMPLIANCE WITH CONFLICT OF INTEREST POLICY. EACH EMPLOYEE HAS A DUTY TO PLACE NATIONAL ASSOCIATION OF COLLEGE AND UNIVERSITY BUSINESS OFFICERS' INTERESTS FOREMOST IN ANY PERSONAL DEALINGS WITH NATIONAL ASSOCIATION OF COLLEGE AND UNIVERSITY BUSINESS OFFICERS AND HAS A CONTINUING RESPONSIBILITY TO COMPLY WITH THE REQUIREMENTS OF THIS POLICY. THE CONDUCT OF PERSONAL BUSINESS BETWEEN ANY EMPLOYEE AND NATIONAL ASSOCIATION OF COLLEGE AND UNIVERSITY BUSINESS OFFICERS IS PROHIBITED WITHOUT WRITTEN APPROVAL OF THE PRESIDENT AND CHIEF EXECUTIVE OFFICER OF NATIONAL ASSOCIATION OF COLLEGE AND UNIVERSITY BUSINESS OFFICERS, AFTER FULL DISCLOSURE BY THE EMPLOYEE. EACH EMPLOYEE MUST SIGN THE CONFLICT OF INTEREST DISCLOSURE STATEMENT FOR PURPOSES OF PROVIDING MANAGEMENT WITH THE INFORMATION NEEDED TO IMPLEMENT THIS POLICY. EMPLOYEE DISCLOSURE STATEMENTS WILL BE REVIEWED BY THE NATIONAL ASSOCIATION OF COLLEGE AND UNIVERSITY BUSINESS OFFICERS PRESIDENT, WHO WILL RESOLVE ANY ACTUAL OR POTENTIAL CONFLICT(S). EACH EMPLOYEE SHALL ANNUALLY SIGN A DISCLOSURE STATEMENT WHICH AFFIRMS THAT SUCH PERSON: A. HAS RECEIVED A COPY OF THE CONFLICT OF INTEREST POLICY, B. HAS READ AND UNDERSTANDS THE POLICY, C. HAS AGREED TO COMPLY WITH THE POLICY. THE DISCLOSURE STATEMENT WILL ALSO PROVIDE AN OPPORTUNITY TO DISCLOSE OR DISCLAIM SPECIFIC FINANCIAL INTERESTS. THIS POLICY APPLIES TO THE BOARD OF DIRECTORS AS WELL AS ALL EMPLOYEES.
FORM 990, PART VI, SECTION B, LINE 15	THE ORGANIZATION USES AN INDEPENDENT COMPENSATION CONSULTANT AND COMPENSATION SURVEYS AND STUDIES TO DETERMINE THE APPROPRIATE COMPENSATION AMOUNTS. ONCE APPROVED BY THE COMPENSATION COMMITTEE, A WRITTEN EMPLOYMENT CONTRACT IS WRITTEN FOR THE PRESIDENT/CHIEF EXECUTIVE OFFICER AND THE EXECUTIVE MANAGEMENT TEAM. QUATT ASSOCIATES WAS USED TO CONDUCT OUR MOST RECENT ORGANIZATION WIDE COMPENSATION REVIEW. OUR PRESIDENT OVERSAW THIS REVIEW PROCESS WITH THE INDEPENDENT COMPENSATION CONSULTANT. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2023.
FORM 990, PART VI, SECTION C, LINE 19	THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. IT DOES NOT MAKE ITS CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC.
FORM 990, PART IX, LINE 11G	SERVICE CENTER FEES: PROGRAM SERVICE EXPENSES 684,518. MANAGEMENT AND GENERAL EXPENSES 75,591. FUNDRAISING EXPENSES 48,526. TOTAL EXPENSES 808,635. HONORARIA: PROGRAM SERVICE EXPENSES 91,601. MANAGEMENT AND GENERAL EXPENSES 10,115. FUNDRAISING EXPENSES 6,494. TOTAL EXPENSES 108,210. CONSULTANTS: PROGRAM SERVICE EXPENSES 1,969,830. MANAGEMENT AND GENERAL EXPENSES 217,527. FUNDRAISING EXPENSES 139,644. TOTAL EXPENSES 2,327,001. TEMPORARY AGENCY: PROGRAM SERVICE EXPENSES 11,322. MANAGEMENT AND GENERAL EXPENSES 1,250. FUNDRAISING EXPENSES 803. TOTAL EXPENSES 13,375.

For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.

Cat. No. 51056K

Schedule O (Form 990) 2023

Additional Data

Software ID:
Software Version:

		Prior Year	Current Year
8	Contributions and grants (Part VIII, line 1h) .........	10,982,015	10,408,131
9	Program service revenue (Part VIII, line 2g) .........	5,695,169	5,566,922
10	Investment income (Part VIII, column (A), lines 3, 4, and 7d ) ....	335,557	112,528
11	Other revenue (Part VIII, column (A), lines 5, 6d, 8c, 9c, 10c, and 11e)	477,645	299,723
12	Total revenue—add lines 8 through 11 (must equal Part VIII, column (A), line 12)	17,490,386	16,387,304
13	Grants and similar amounts paid (Part IX, column (A), lines 1–3 )...	255,000	232,500
14	Benefits paid to or for members (Part IX, column (A), line 4).....	0	0
15	Salaries, other compensation, employee benefits (Part IX, column (A), lines 5–10)	6,922,341	7,385,265
16a	Professional fundraising fees (Part IX, column (A), line 11e) .....	0	0
b	Total fundraising expenses (Part IX, column (D), line 25) 805,960
17	Other expenses (Part IX, column (A), lines 11a–11d, 11f–24e)....	9,451,827	9,708,178
18	Total expenses. Add lines 13–17 (must equal Part IX, column (A), line 25)	16,629,168	17,325,943
19	Revenue less expenses. Subtract line 18 from line 12.......	861,218	-938,639
		Beginning of Current Year	End of Year
20	Total assets (Part X, line 16).............	34,866,804	39,795,703
21	Total liabilities (Part X, line 26).............	15,101,594	19,271,814
22	Net assets or fund balances. Subtract line 21 from line 20.....	19,765,210	20,523,889

Sign Here

	Signature of officer	Date

	Type or print name and title


4a	(Code: ) (Expenses $ 4,918,776 including grants of $ 232,500 ) (Revenue $ 4,323,495 )
	CONFERENCES, WORKSHOPS, AND SEMINARS:THE NACUBO ANNUAL MEETING IS THE MOST IMPORTANT PROFESSIONAL DEVELOPMENT EVENT OF THE YEAR FOR COLLEGE AND UNIVERSITY BUSINESS OFFICERS AND THEIR STAFF. THE NACUBO 2022 ANNUAL MEETING TOOK PLACE IN AURORA, COLORADO, AND WAS THE FIRST NACUBO ANNUAL MEETING HELD IN PERSON SINCE THE OUTBREAK OF THE COVID-19 PANDEMIC. SESSION TOPICS INCLUDED LEADING THROUGH UNCERTAINTY, FUTURE OF WORK AND TALENT STRATEGIES IN HIGHER EDUCATION, COLLEGE AFTER COVID, ACCELERATING ANALYTICS USE THROUGH DATA GOVERNANCE, AND MANY OTHER TECHNICAL, MANAGERIAL AND LEADERSHIP ISSUES. (CONTINUE ON SCHEDULE O)IN ADDITION TO THE ANNUAL MEETING, NACUBO CREATES AND DELIVERS A BROAD RANGE OF PROGRAMS, SERVICES, AND PRODUCTS THAT ARE DESIGNED TO STRENGTHEN THE ABILITIES AND KNOWLEDGE OF CAMPUS ADMINISTRATORS AT ALL LEVELS. NACUBO DEVELOPED A VARIETY OF ONLINE WORKSHOPS, WEBINARS, AND OTHER MATERIALS COVERING TOPICS IN THE FIELDS OF ACCOUNTING, HIGHER EDUCATION FINANCE, LEADERSHIP AND MANAGEMENT, TAX, STUDENT FINANCIAL SERVICES, CAMPUS OPERATIONS, AND TECHNOLOGY. NACUBO IS REGISTERED WITH THE NATIONAL ASSOCIATION OF STATE BOARDS OF ACCOUNTANCY (NASBA) AS A SPONSOR OF CONTINUING PROFESSIONAL EDUCATION ON THE NATIONAL REGISTRY OF CPE SPONSORS. NACUBO ADMINISTERS A CONTINUING PROFESSIONAL EDUCATION (CPE) CREDIT PROGRAM FOR CERTIFIED PUBLIC ACCOUNTANTS.

4b	(Code: ) (Expenses $ 4,837,741 including grants of $ 0 ) (Revenue $ 0 )
	MEMBER SERVICES:UNIVERSITIES - THE ASSOCIATION KEEPS MEMBERS INFORMED OF FEDERAL ACTIONS, SOLICITS MEMBER OPINIONS AND CONCERNS, AND ADVOCATES FOR THE BEST INTERESTS OF COLLEGES AND UNIVERSITIES WITH CONGRESS AND FEDERAL AGENCIES. THE ASSOCIATION'S ADVOCACY EFFORTS WERE COORDINATED WITH A NUMBER OF OTHER ASSOCIATIONS REPRESENTING VARIOUS HIGHER EDUCATION CONSTITUENCIES. IN ADDITION, NACUBO IS THE VOICE FOR HIGHER EDUCATION WITH THE VARIOUS BODIES THAT SET STANDARDS FOR ACCOUNTING PRACTICES, SUCH AS THE FINANCIAL ACCOUNTING STANDARDS BOARD, THE ASSOCIATION OF CERTIFIED PUBLIC ACCOUNTANTS, AND THE U.S. GENERAL ACCOUNTING OFFICE. (CONTINUE ON SCHEDULE O)RESEARCH - NACUBO UNDERTAKES BOTH ON-GOING LONGITUDINAL STUDIES IMPORTANT TO THE HIGHER EDUCATION INDUSTRY SUCH AS THE ASSOCIATION'S ANNUAL STUDY OF COLLEGE AND UNIVERSITY ENDOWMENTS AND SHORT SURVEYS OR RESEARCH ON SPECIFIC ISSUES OF CONCERN.GRANTS - NACUBO RECEIVED FUNDING FOR A GRANT TO SERVE ITS MEMBERS AND DEVELOP STRATEGIC FINANCE MODELS THAT PRIORITIZE AND SUSTAIN STUDENT EQUITY, SUCCESS, AND COMPLETION INITIATIVES. DURING THE THREE-YEAR GRANT, NACUBO WILL FACILITATE THE CREATION OF FRAMEWORKS, TOOLS, AND MODELS THAT CAN MOVE INSTITUTIONS TOWARDS SUSTAINABLE, INSTITUTION-WIDE FINANCIAL AND OPERATIONAL ACTIVITIES THAT INCREASE EQUITABLE OUTCOMES AND COMPLETION FOR STUDENTS. THE WORK WILL PARTICULARLY FOCUS ON WAYS TO INCREASE GUIDED PATHWAYS AND IMPROVE TRANSFER OUTCOMES.REGIONAL ASSOCIATIONS AND PARTNERSHIPS - NACUBO MANAGES AN ASSOCIATION MANAGEMENT SYSTEM THAT SERVES THE JOINT MEMBERSHIP OF THE NATIONAL ASSOCIATION AND ITS FOUR REGIONAL AFFILIATED ASSOCIATIONS (CACUBO, EACUBO, SACUBO AND WACUBO). THE SYSTEM CAPTURES A VARIETY OF DATA POINTS THAT ENABLE IMPROVED TRACKING OF INDIVIDUAL MEMBER ACTIVITY AND DUES BILLING AND COLLECTION PROCESSES. THIS DATABASE IS LINKED TO BOTH A CONTENT MANAGEMENT SYSTEM AND THE ASSOCIATION WEBSITE IMPROVING MEMBER SERVICE.AWARDS PROGRAM - NACUBO RECOGNIZES INSTITUTIONAL AND INDIVIDUAL EXCELLENCE THROUGH ITS AWARDS PROGRAM. THESE AWARDS WERE PRESENTED TO INDIVIDUALS WHO SHOWED OUTSTANDING ACHIEVEMENT AND EXEMPLARY PERFORMANCE IN THE AREAS OF FINANCIAL MANAGEMENT, ENDOWMENT MANAGEMENT, PROFESSIONAL DEVELOPMENT AND MORE. INSTITUTIONS WERE RECOGNIZED THAT DEMONSTRATED INNOVATION IN THE AREAS OF PROCESS IMPROVEMENT AND RESOURCE ENHANCEMENT.

4c	(Code: ) (Expenses $ 2,588,297 including grants of $ 0 ) (Revenue $ 0 )
	ADVOCACY AND POLICY:NACUBO'S ADVOCACY AND PUBLIC POLICY TEAM TRACKS FEDERAL LEGISLATIVE AND REGULATORY ACTIVITIES THAT COULD IMPACT MEMBER INSTITUTIONS AND THE STUDENTS THEY SERVE. THE TEAM'S FOCUS IS TO REPRESENT AND SERVE THE DIVERSE NEEDS OF THE COLLEGE AND UNIVERSITY BUSINESS OFFICE. KEY ACTIVITIES INCLUDE ADVOCACY BEFORE LEGISLATORS AND STAFF, EXECUTIVE BRANCH STAFF, AND OTHER POLICYMAKERS AS WELL AS PARTICIPATION IN ADVOCACY COALITIONS. IT ALSO INCLUDES COMMUNICATING POLICY AND RELEVANT HIGHER EDUCATION SECTOR UPDATES TO NACUBO MEMBERS.

	(Code: ) (Expenses $ 1,502,623 including grants of $ 0 ) (Revenue $ 1,054,040 )
	CONSULTING:NACUBO CONSULTING PROVIDES PRACTICAL GUIDANCE TO HIGHER EDUCATION INSTITUTIONS. OUR AIM IS TO BE AN INSTITUTION'S PARTNER IN PRACTICE. NACUBO CONSULTANTS BRING EXPERTISE, EXPERIENCE, AND LEADERSHIP ABILITIES TO EVERY ENGAGEMENT SEEKING TO SUPPORT INSTITUTIONS IN CRITICAL AREAS. ALL OF THE CONSULTING ENGAGEMENTS ARE CUSTOMIZED WITH DEFINED SCOPES OF WORK TO SUPPORT MEMBERS' WORK THROUGH COMPLEX PROBLEMS OR IMPROVE OPERATIONS.

	(Code: ) (Expenses $ 139,107 including grants of $ 0 ) (Revenue $ 172,936 )
	PUBLICATIONS AND OTHER PRODUCTS:NATIONAL ASSOCIATION OF COLLEGE AND UNIVERSITY BUSINESS OFFICERS REMAINS A SOURCE OF PROFESSIONAL INFORMATION FOR MEMBERS. NATIONAL ASSOCIATION OF COLLEGE AND UNIVERSITY BUSINESS OFFICERS SELLS APPROXIMATELY 25 PUBLICATION TITLES, INCLUDING TWO ONLINE SUBSCRIPTION SERVICES.

4d	Other program services (Describe in Schedule O.)
	(Expenses $ 1,641,730 including grants of $ 0 ) (Revenue $ 1,226,976 )
4e	Total program service expenses13,986,544

1b	Sub-Total..............
c	Total from continuation sheets to Part VII, Section A..
d	Total (add lines 1b and 1c).........	2,402,937	0	365,511

		Business Code
2a	CONFERENCES, WORKSHOPS & SEMINARS	900099	4,323,495	4,323,495
b	CONSULTING FEES	900099	1,054,040	1,054,040
c	ADVERTISING	541800	189,387		189,387
d
e
f	All other program service revenue.
g	Total. Add lines 2a–2f .....		5,566,922

1	Briefly describe the organization’s mission or most significant activities: TO IMPROVE FINANCIAL AND ADMINISTRATIVE MANAGEMENT AT INSTITUTIONS OF HIGHER EDUCATION.
2	Check this box
3	Number of voting members of the governing body (Part VI, line 1a) ........	3	23
4	Number of independent voting members of the governing body (Part VI, line 1b) .....	4	22
5	Total number of individuals employed in calendar year 2023 (Part V, line 2a) ......	5	50
6	Total number of volunteers (estimate if necessary) .............	6	22
7a	Total unrelated business revenue from Part VIII, column (C), line 12 ........	7a	189,387
b	Net unrelated business taxable income from Form 990-T, Part I, line 11 .........	7b	127,394

1a	Federated campaigns..		1a
b	Membership dues..		1b	8,614,000
c	Fundraising events..		1c
d	Related organizations		1d
e	Government grants (contributions)		1e

f	All other contributions, gifts, grants, and similar amounts not included above		1f	1,794,131

g	Noncash contributions included in lines 1a - 1f:$		1g

h Total. Add lines 1a-1f.......		10,408,131

3 Investment income (including dividends, interest, and othersimilar amounts) ......			564,681			564,681
4 Income from investment of tax-exempt bond proceeds
5 Royalties...........
			(i) Real	(ii) Personal
6a	Gross rents	6a
b	Less: rental expenses	6b
c	Rental income or (loss)	6c
d	Net rental income or (loss).......
			(i) Securities	(ii) Other
7a	Gross amount from sales of assets other than inventory	7a	37,603,565
b	Less: cost or other basis and sales expenses	7b	37,364,832	690,886
c	Gain or (loss)	7c	238,733	-690,886
d	Net gain or (loss).........			-452,153			-452,153
8a	Gross income from fundraising events (not including $ of contributions reported on line 1c). See Part IV, line 18 ....
			8a
b	Less: direct expenses ...		8b
c	Net income or (loss) from fundraising events..
9a	Gross income from gaming activities. See Part IV, line 19 ...
			9a
b	Less: direct expenses ...		9b
c	Net income or (loss) from gaming activities..
10a	Gross sales of inventory, less returns and allowances ..
			10a	172,936
b	Less: cost of goods sold ..		10b	0
c	Net income or (loss) from sales of inventory..			172,936	172,936

Business Code
11a	MISCELLANEOUS REVENUE		900099	122,337			122,337
b	SHIPPING REVENUE		900099	4,450			4,450
c
d	All other revenue ....
e	Total. Add lines 11a–11d ......			126,787
12	Total revenue. See instructions.....			16,387,304	5,550,471	189,387	239,315

1	Grants and other assistance to domestic organizations and domestic governments. See Part IV, line 21 ....	232,500	232,500
2	Grants and other assistance to domestic individuals. See Part IV, line 22 ...........
3	Grants and other assistance to foreign organizations, foreign governments, and foreign individuals. See Part IV, lines 15 and 16. .............
4	Benefits paid to or for members .......
5	Compensation of current officers, directors, trustees, and key employees ...........	1,780,630	1,659,836	120,794
6	Compensation not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B) .........
7	Other salaries and wages........	4,391,533	2,996,422	993,031	402,080
8	Pension plan accruals and contributions (include section 401(k) and 403(b) employer contributions) ....	382,169	255,117	90,854	36,198
9	Other employee benefits .......	431,477	306,603	89,550	35,324
10	Payroll taxes ...........	399,456	298,370	74,005	27,081
11	Fees for services (non-employees):
a	Management ......
b	Legal .........	77,512		77,512
c	Accounting ...........	288,385		288,385
d	Lobbying ...........
e	Professional fundraising services. See Part IV, line 17
f	Investment management fees ......	38,427		38,427
g	Other (If line 11g amount exceeds 10% of line 25, column (A) amount, list line 11g expenses on Schedule O)	3,257,221	2,757,271	304,483	195,467
12	Advertising and promotion ....	98,320	82,657	14,068	1,595
13	Office expenses .......	524,690	481,495	30,594	12,601
14	Information technology ......	25,651	21,565	3,670	416
15	Royalties ..
16	Occupancy ...........	914,194	646,278	209,257	58,659
17	Travel ............	595,364	557,178	29,316	8,870
18	Payments of travel or entertainment expenses for any federal, state, or local public officials .
19	Conferences, conventions, and meetings ....	2,860,038	2,848,641	10,634	763
20	Interest ...........
21	Payments to affiliates .......
22	Depreciation, depletion, and amortization ..	281,351	224,669	44,272	12,410
23	Insurance ...	133,746	112,439	19,137	2,170
24	Other expenses. Itemize expenses not covered above (List miscellaneous expenses in line 24e. If line 24e amount exceeds 10% of line 25, column (A) amount, list line 24e expenses on Schedule O.)
a	PUBLICATIONS & PRINTING	143,283	136,119	4,932	2,232
b	ATTRITION	113,883	113,837	36	10
c	UBI TAXES	42,030	42,013	13	4
d	MEMBERSHIP FEES	28,917	28,905	9	3
e	All other expenses	285,166	184,629	90,460	10,077
25	Total functional expenses. Add lines 1 through 24e	17,325,943	13,986,544	2,533,439	805,960
26	Joint costs. Complete this line only if the organization reported in column (B) joint costs from a combined educational campaign and fundraising solicitation. Check here if following SOP 98-2 (ASC 958-720).

1	Cash–non-interest-bearing ........			11,025,636	1	12,399,908
2	Savings and temporary cash investments .........			6,081,036	2	1,375,064
3	Pledges and grants receivable, net ......			1,254,223	3
4	Accounts receivable, net .............			569,665	4	378,750
5	Loans and other receivables from any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or 35% controlled entity or family member of any of these persons .......
					5
6	Loans and other receivables from other disqualified persons (as defined under section 4958(f)(1)), and persons described in section 4958(c)(3)(B) ...
					6
7	Notes and loans receivable, net ...........				7
8	Inventories for sale or use ............			9,504	8	10,935
9	Prepaid expenses and deferred charges ......			759,208	9	872,711
10a	Land, buildings, and equipment: cost or other basis. Complete Part VI of Schedule D	10a	2,607,088
b	Less: accumulated depreciation	10b	1,427,297	929,866	10c	1,179,791
11	Investments—publicly traded securities .			10,392,821	11	17,561,098
12	Investments—other securities. See Part IV, line 11 .....				12
13	Investments—program-related. See Part IV, line 11 ..				13
14	Intangible assets ...............				14
15	Other assets. See Part IV, line 11 ...........			3,844,845	15	6,017,446
16	Total assets. Add lines 1 through 15 (must equal line 33)...			34,866,804	16	39,795,703

17	Accounts payable and accrued expenses .....	1,729,426	17	1,366,380
18	Grants payable ...		18
19	Deferred revenue .........	8,553,546	19	10,591,437
20	Tax-exempt bond liabilities .........		20
21	Escrow or custodial account liability. Complete Part IV of Schedule D		21
22	Loans and other payables to any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or 35% controlled entity or family member of any of these persons .........
			22
23	Secured mortgages and notes payable to unrelated third parties ..		23
24	Unsecured notes and loans payable to unrelated third parties ..		24
25	Other liabilities (including federal income tax, payables to related third parties, and other liabilities not included on lines 17 - 24). Complete Part X of Schedule D	4,818,622	25	7,313,997
26	Total liabilities. Add lines 17 through 25..	15,101,594	26	19,271,814

	Organizations that follow FASB ASC 958, check here and complete lines 27, 28, 32, and 33.
27	Net assets without donor restrictions ..........	17,941,562	27	20,034,191
28	Net assets with donor restrictions ...........	1,823,648	28	489,698
	Organizations that do not follow FASB ASC 958, check here and complete lines 29 through 33.
29	Capital stock or trust principal, or current funds .....		29
30	Paid-in or capital surplus, or land, building or equipment fund ...		30
31	Retained earnings, endowment, accumulated income, or other funds		31
32	Total net assets or fund balances ...........	19,765,210	32	20,523,889
33	Total liabilities and net assets/fund balances ........	34,866,804	33	39,795,703