National Association for Fixed Annuities

Nonprofit profile at a glance

EIN
541877987
IRS 990 coverage
2010–2025
Forms available
Form 990 2025
Location
Brookfield, WI, USA
Phone
4143329306
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$2,458,113
Expenses
$1,671,761
Assets
$2,624,083
Liabilities
$521,461

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

26 people listed

Executive titles in this filing

  • Charles DiVencenzo Jr (Executive Director)

Highest reported compensation

  • Charles DiVencenzo Jr (Executive Director): $266,449 total reported compensation
  • Pamela Heinrich (Director of Legal Govt Affairs): $180,250 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

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.

What it reported doing in 2025

EDUCATION/PROMOTION - NAFA participates in promoting June as National Annuity Awareness Month by contributing content to AnnuRetirement.com, promotional material in trade publications, solicitation of state Governors for proclamations and holds one of its two annual conferences during June focused on the use of annuities in retirement planning. Monthly webinars are produced to education industry professionals on fixed annuities and fixed indexed annuities. Additionally, whitepapers, toolkits and media responses were developed and were distributed to enhance the understanding of, and compliance with, the use of annuities in retirement portfolios. NAFA works with CapCity Advocates to assist in educating and informing federal regulators, legislators and policymakers about fixed annuities and their role in financial planning increase awareness of NAFA and its mission. NAFA works with other trade associations in activities on both the state and federal level that further our mission and the number of Americans who own a fixed annuity.

Operating model

Revenue model
Earned-program. 99% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 98% 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: 71
  • Transparency & Controls: 68
  • Accountability: 90
  • Sustainability: 59
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 67.4%; rating input score 67
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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; 75th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 32%; rating input score 83; 83rd percentile among comparable filings
  • Total-asset coverage ratio: 1.57; rating input score 50; 50th percentile among comparable filings
  • Liabilities to assets ratio: 0.2; rating input score 35; 35th percentile among comparable filings
  • Officer compensation ratio: 26.7%; rating input score 10; 10th percentile among comparable filings

Growth

  • Program expense growth: 14.5% per year; rating input score 100; 74th percentile among comparable filings
  • Revenue growth: 6.1% per year; rating input score 100; 45th percentile among comparable filings
  • Asset growth: 10.9% per year; rating input score 100; 61st percentile among comparable filings

Details

  • Where the money goes: 67.4% of revenue deployed · 100% of spending went to programs
  • Governance: 107 of 107 board members independent · 6 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $1.7M in reported program spending
  • Leadership: top reported pay $266K · 26 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 29 of 29 current checks pass
  • Schedules: 4 filed schedules · includes grants and executive pay
  • Filing history: 9 filing years from 2010 to 2025
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • 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.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Review — Sustainability: Total-asset coverage ratio scored 50/100.
  • High — Sustainability: Officer compensation ratio scored 10/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 35/100.