NORTH AMERICAN INSULATION MANUFACT… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1933

Legal Domicile

Principal Officer

CURT RICH

Phone

7036840084

Tax Period

2023-01-01 to 2023-12-31

NORTH AMERICAN INSULATION MANUFACTURERS ASSOCIATION, founded in 1933, is a community nonprofit that reported $4.7M in total revenue in fiscal year 2023. Revenue grew 11% year-over-year, indicating healthy expansion. Expenses of $4.3M left a modest 8% surplus.

Mission

NAIMA IS THE ASSOCIATION FOR NORTH AMERICAN MANUFACTURERS OF FIBER GLASS, ROCK WOOL, AND SLAG WOOL INSULATION PRODUCTS. ITS ROLE IS TO PROMOTE ENERGY EFFICIENCY AND ENVIRONMENTAL PRESERVATION THROUGH THE USE OF FIBER GLASS, ROCK WOOL, AND SLAG WOOL INSULATION, AND TO ENCOURAGE THE SAFE PRODUCTION AND USE OF THESE MATERIALS.

Program Service Accomplishments

Program 1

AIR HANDLING - PROMOTES THE USE OF FIBER GLASS INSULATIONS IN DUCT SYSTEMS AND CREATES A POSITIVE ENVIRONMENT OF ACCEPTANCE BY ALL USERS OF FIBER GLASS AIR HANDLING PRODUCTS.

Program 2

COMMERCIAL AND INDUSTRIAL - PROMOTES THE PROPER USE OF FIBER GLASS, ROCK WOOL AND SLAG WOOL INSULATION PRODUCTS IN COMMERCIAL, INDUSTRIAL, MANUFACTURING, INSTITUTIONAL AND SPECIAL APPLICATIONS.

Program 3

BUILDING INSULATION - PROMOTES THE USE OF FIBER GLASS AND ROCK/SLAG WOOL INSULATION MATERIALS IN THERMAL AND ACOUSTICAL APPLICATIONS IN RESIDENTIAL AND COMMERCIAL BUILDINGS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $4,511,142

Investment Income $100,941

Other Revenue $95,805

TOTAL REVENUE $4,707,888

Expense Breakdown

Grants Paid $116,500

Salaries & Benefits $2,312,479

Fundraising Expenses $0

Other Expenses $1,894,770

TOTAL EXPENSES $4,323,749

Year-over-Year Comparison

	2023	2022	Change
Revenue	$4,707,888	$4,234,945	+0.1%
Expenses	$4,323,749	$4,076,828	+0.1%
Net Income	$384,139	$158,117	+1.4%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$908,160

Total Directors

Key Employees

$285,193

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CURT RICH	PRESIDENT, CEO, & TREASURER	34.00	Officer	$454,473	$71,712	$526,185
ANGUS CRANE	SECRETARY	34.00	Officer	$324,285	$57,690	$381,975
MICHELLE BUNCH	VP, FINANCE & ADMINISTRATION, VICE TREASURER	32.00	Key Emp	$226,268	$58,925	$285,193
CHARLES HAACK	VP, TECHNICAL SERVICES	35.00	Highest	$196,176	$64,088	$260,264
STACY FITZGERALD-REDD	DIRECTOR, COMMUNICATIONS	35.00	Highest	$169,822	$50,421	$220,243
PATRICK KIKER	VP, MARKETING & COMMUNICATIONS	35.00	Highest	$167,730	$44,279	$212,009
JASON VANDEVER	DIRECTOR OF TECHNICAL SERVICES	35.00	Highest	$139,087	$57,587	$196,674
RORY MOSS	CHAIR	2.00	Officer Director	$0	$0	$0
TODD FISTER	CHAIR (OUTGOING 2023)	2.00	Officer Director	$0	$0	$0
GREG CLARKE	VICE CHAIR	2.00	Officer Director	$0	$0	$0
JAMES DEIBEL	DIRECTOR	2.00	Director	$0	$0	$0
NICOLAS DEL MONACO	DIRECTOR (INCOMING 2023)	2.00	Director	$0	$0	$0
ARTURO ECHEVERRIA	DIRECTOR	2.00	Director	$0	$0	$0
MICHAEL LORENZ	DIRECTOR	2.00	Director	$0	$0	$0
BRYON MAGILL	DIRECTOR (OUTGOING 2023)	2.00	Director	$0	$0	$0
CURT MALONE	DIRECTOR	2.00	Director	$0	$0	$0
MATTHEW PARRISH	DIRECTOR	2.00	Director	$0	$0	$0
ANITA RAGAN	DIRECTOR	2.00	Director	$0	$0	$0
MIKE SWIFT	DIRECTOR	2.00	Director	$0	$0	$0
DEAN UPDEGROVE	DIRECTOR (INCOMING 2023)	2.00	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$4,707,888	$4,323,749	$2,738,587	$384,139
2022	$4,234,945	$4,076,828	$2,351,926	$158,117
2021	$4,170,792	$4,034,837	$2,385,604	$135,955
2020	$4,108,090	$3,506,450	$2,102,943	$601,640
2019	$4,247,994	$4,207,928	$1,797,988	$40,066
2018	$4,057,038	$4,244,287	$1,563,041	$-187,249

NORTH AMERICAN INSULATION MANUFACTURERS ASSOCIATION