National Association for Fixed Annuities (EIN 541877987) - Form 990 Financial Analysis & Trantor Score

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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

1998

Legal Domicile

Principal Officer

Emily Cramer

Phone

4143329306

Tax Period

2025-01-01 to 2025-12-31

National Association for Fixed Annuities, founded in 1998, is a community nonprofit that reported $2.5M in total revenue in fiscal year 2025. Revenue surged 22% from the prior year, signaling strong growth momentum. The organization ran a surplus of $786K, a strong 32% operating margin.

Mission

NAFA is exclusively dedicated to promoting the awareness and understanding of fixed income and deferred annuities through the education of policymakers, journalists, consumers, and the industry.

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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 (2025)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $2,435,450

Investment Income $22,663

Other Revenue $0

TOTAL REVENUE $2,458,113

Expense Breakdown

Grants Paid $26,500

Salaries & Benefits $726,362

Fundraising Expenses $0

Program Expenses $1,671,761

Other Expenses $918,899

TOTAL EXPENSES $1,671,761

Year-over-Year Comparison

	2025	2024	Change
Revenue	$2,458,113	$2,022,057	+0.2%
Expenses	$1,671,761	$1,813,607	-0.1%
Net Income	$786,352	$208,450	+2.8%

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

107

Independent Members

107

Employees

Volunteers

107

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

$266,449

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Charles DiVencenzo Jr	Executive Director	040.00	Officer	$247,305	$19,144	$266,449
Pamela Heinrich	Director of Legal Govt Affairs	040.00	Highest	$175,000	$5,250	$180,250
Eric Taylor	Vice Chair	002.00	Officer Director	$0	$0	$0
David Wolfe	Immediate Past Chari	002.00	Director	$0	$0	$0
Andrew Payne	Chair	002.00	Officer Director	$0	$0	$0
Jay Brown	Director	001.00	Director	$0	$0	$0
Brian Peterson	Director	001.00	Director	$0	$0	$0
Branislav Nikolic	Director	001.00	Director	$0	$0	$0
Luke Loewen	Director	001.00	Director	$0	$0	$0
Paul Kruth	Director	001.00	Director	$0	$0	$0
Jamie Kosharek	Director	001.00	Director	$0	$0	$0
Matt Johnson	Director	001.00	Director	$0	$0	$0
Sarah Garrity	Director	001.00	Director	$0	$0	$0
Paul Garofoli	Director	001.00	Director	$0	$0	$0
Nicohle Schluender	Director	001.00	Director	$0	$0	$0
Jill Esser	Director	001.00	Director	$0	$0	$0
Emily Cramer	Treasurer	002.00	Officer Director	$0	$0	$0
Tom Bumbolow	Director	001.00	Director	$0	$0	$0
Bryce Biklen	Director	001.00	Director	$0	$0	$0
Dan Acker	Secretary	002.00	Officer Director	$0	$0	$0
Jason Gould	Director	001.00	Director	$0	$0	$0
Ann Raible	Director	001.00	Director	$0	$0	$0
Rocky Robbins	Director	001.00	Director	$0	$0	$0
Mike Tripses	Director	001.00	Director	$0	$0	$0
Emily Kresowik	Director	001.00	Director	$0	$0	$0
Mike Miller	Director	001.00	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
2025	$2,458,113	$1,671,761	$2,624,083	$786,352
2024	$2,022,057	$1,813,607	$1,995,983	$208,450
2023	$1,812,906	$1,561,848	$1,659,036	$251,058
2022	$1,421,840	$1,233,780	$1,430,503	$188,060
2021	$1,212,602	$973,060	$1,111,243	$239,542
2020	$881,558	$869,863	$671,327	$11,695

National Association for Fixed Annuities