National African-american Insurance Association
Nonprofit profile at a glance
- EIN
- 311471178
- IRS 990 coverage
- 2019–2024
- Forms available
- Form 990 2024
- Location
- Washington, DC, USA
- Phone
- 8665662242
- Rating
- 73
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
Reported finances
- Revenue
- $2,173,375
- Expenses
- $3,009,281
- Assets
- $626,366
- Liabilities
- $42,027
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
16 people listed
Highest reported compensation
- OMARI JAHI AARONS-MARTIN (OFFICER & KE): $163,000 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To promote professional development and personal growth among african american insurance professionals, while providing opportunities for networking, continuing education, and building mutually beneficial partnerships. Our mission is accomplished via national conferences, seminars, and chapter events.
What it reported doing in 2024
Eleven 3-person student teams representing major universities sponsorships, expanded chapter network and held a sold-out national conference.competed in the naaia national talent development competition. Several of the participating students were offered internships and/or full-time positions by naaia partner companies. All 33 students were mentored and received financial awards. Additionally, the naaia awarded additional scholarships in the amount of 1,000 each under the j.l.tillman scholarship program to eligible students to support higher education.
Operating model
- Revenue model
- Other-operating. 98% of the money available for current operations came from other operating revenue.
- Distribution model
- Direct operator. The filing allocates 99% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
The verdict
SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.
Rating breakdown
- Financial Efficiency: 83
- Transparency & Controls: 68
- Accountability: 68
- Sustainability: 17
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 80.7%; rating input score 81
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 91.7%; rating input score 92; 7th percentile among comparable filings
- Pay-setting controls: 0 of 6 controls in place; rating input score 0
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Missing
- Board or committee approval: Missing
- Foreign activity oversight: Limited
- Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 85.7%; rating input score 86; 17th percentile among comparable filings
- Governance controls: 3 of 8 controls in place; rating input score 43
- Conflict-of-interest policy: Pass
- Whistleblower policy: Fail
- Document-retention policy: Pass
- CEO compensation review process: Limited
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: -38.5%; rating input score 3; 3rd percentile among comparable filings
- Total-asset coverage ratio: 0.21; rating input score 6; 6th percentile among comparable filings
- Liabilities to assets ratio: 0.07; rating input score 66; 66th percentile among comparable filings
- Officer compensation ratio: 5.4%; rating input score 51; 51st percentile among comparable filings
Growth
- Program expense growth: 34.7% per year; rating input score 100; 94th percentile among comparable filings
- Revenue growth: 25.9% per year; rating input score 100; 92nd percentile among comparable filings
- Asset growth: 8.8% per year; rating input score 100; 53rd percentile among comparable filings
Details
- Where the money goes: 100% of revenue deployed · 80.7% of spending went to programs
- Governance: 12 of 14 board members independent · 3 of 8 filing controls reported
- Programs: 3 filed program accomplishments · $2.4M in reported program spending
- Leadership: top reported pay $163K · 16 people listed · 0 of 6 pay-setting controls reported
- Consistency: 25 of 26 current checks pass · 1 finding to review
- Schedules: 5 filed schedules · includes grants and executive pay
- Filing history: 5 filing years from 2019 to 2024
- Contacts: How to reach this organization
- Money network: 1 filed money-flow record
- Related organizations: 1 filed related-organization link
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
- Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Transparency & Controls: Pay-setting controls scored 0/100.
- Moderate — Accountability: Governance controls: 3 of 6 not reported.
- High — Sustainability: Operating margin scored 3/100.
- High — Sustainability: Total-asset coverage ratio scored 6/100.
- Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
- Review — Sustainability: Officer compensation ratio scored 51/100.