2024-08-19T14:19:12-05:00 2024-04-30 410746749 CLIFTONLARSONALLEN LLP 8215 GREENWAY BOULEVARD SUITE 600 MIDDLETON WI 53562 990 2023-05-01 800802201 NACM NORTH CENTRAL NACM 7632534300 600 HIGHWAY 169 SOUTH 1101 ST LOUIS PARK MN 55426 TANYA GUY PRESIDENT AND COO 7632534300 2024-07-31 1 0 KIMBERLY ANDERSON P00188889 6086628600 2024-07-31 2023 2024-08-08 14:25:15Z X TANYA GUY 600 HIGHWAY 169 SOUTH 1101 ST LOUIS PARK MN 55426 1017287 0 1 X WWW.NACMNC.ORG X 2012 MN TO HELP BUSINESS CREDIT PROFESSIONALS AND THEIR COMPANIES MAKE BETTER DECISIONS. 9 9 0 52 0 0 0 0 411981 408653 13467 38120 14814 14497 440262 461270 0 0 0 0 0 0 0 0 0 415317 411943 415317 411943 24945 49327 1052451 954988 273147 261364 779304 693624 PROMOTE THE COMMON BUSINESS INTEREST AND IMPROVE BUSINESS CONDITIONS AS WELL AS TO PROVIDE EDUCATIONAL OPPORTUNITIES FOR COMMERCIAL CREDIT PROFESSIONALS REPRESENTING ORGANIZATIONS EXTENDING COMMERCIAL CREDIT. 0 0 SEMINARS AND MEMBERSHIP MEETINGS:PROVIDE EDUCATION AND SUPPORT SERVICES TO ASSOCIATION MEMBERS RELATED TO COMMERCIAL CREDIT MATTERS. 0 0 0 1 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 0 0 0 0 0 0 0 1 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 1 0 1 1 0 0 1 1 0 0 0 X MARK MERRELL 7632534337 600 HIGHWAY 169 SOUTH 1101 ST LOUIS PARK MN 55426 CRAIG PLUFF CHAIR 1.00 X X 0 0 0 MICHELLE OCHETTI FIRST VICE CHAIR 0.50 X X 0 0 0 KARRIE LYNCH SECOND VICE CHAIR 0.50 X X 0 0 0 KRISTIN CASWELL COUNCILOR 1.00 X X 0 0 0 MIKE BARNIDGE DIRECTOR 0.50 X 0 0 0 JOE FISCHER DIRECTOR 0.50 X 0 0 0 BONNIE HALVORSON DIRECTOR 0.50 X 0 0 0 JENNIFER HIELSBERG DIRECTOR 0.50 X 0 0 0 BENNETT KRENIK NATIONAL BOARD REP 0.50 X 0 0 0 TONI NUERNBERG PRESIDENT AND COO 5.00 40.00 X 0 160667 28603 MARK MERRELL CONTROLLER 2.00 34.00 X 0 80505 16829 KEN SONDAY DIRECTOR - INFORMATION TEC 2.00 40.00 X 0 117600 27532 TANYA GUY VICE PRESIDENT 2.00 40.00 X 0 107306 21785 0 466078 94749 3 0 1 0 FORIUS 600 HIGHWAY 169 S ST LOUIS PARK MN 55426 MEMBER SERVICE FEE 388220 1 MEMBERSHIP DUES 900099 408653 408653 408653 30025 30025 14497 14497 564112 556017 8095 8095 8095 461270 408653 0 52617 388220 4772 18951 411943 93048 82228 474892 508958 347377 391802 -450075 -619404 587209 591404 1052451 954988 273147 261364 273147 261364 X 779304 693624 779304 693624 1052451 954988 X 49327 34322 -169329 X 0 1 X 1 0 0 1 0 0 DUE FROM FORIUS BUSINESS CREDIT RESOURCES, INC. 591404 591404 X 2789269 2720991 2720991 68278 4772 388220 392992 461270 2909271 2890320 2890320 18951 4772 388220 392992 411943 PART X, LINE 2: NACM NORTH CENTRAL IS ORGANIZED AS A NONPROFIT CORPORATION UNDER SECTION 501(C)(6) OF THE INTERNAL REVENUE CODE. THIS SECTION EXEMPTS THE ASSOCIATION FROM TAXES ON INCOME, WITH THE EXCEPTION OF INCOME FROM AN UNRELATED BUSINESS ACTIVITY. THE ASSOCIATION FOLLOWS THE GUIDANCE IN THE INCOME TAX STANDARD REGARDING THE RECOGNITION AND MEASUREMENT OF UNCERTAIN TAX POSITIONS. THE APPLICATION OF THIS STANDARD HAD NO IMPACT ON THE ASSOCIATION'S CONSOLIDATED FINANCIAL STATEMENTS. THE ASSOCIATION FILES AS A TAX-EXEMPT ORGANIZATION AND ITS SUBSIDIARY FILES INCOME TAX RETURNS. WITH REGARD TO TAXABLE INCOME FROM UNRELATED BUSINESS ACTIVITIES, THE ASSET AND LIABILITY APPROACH IS USED TO DETERMINE DEFERRED INCOME TAXES. THE ASSET AND LIABILITY APPROACH REQUIRES RECOGNITION OF DEFERRED TAX LIABILITIES AND ASSETS FOR THE EXPECTED FUTURE CONSEQUENCES OF TEMPORARY DIFFERENCES BETWEEN THE FINANCIAL REPORTING BASIS AND THE TAX BASIS OF ASSETS AND LIABILITIES. A VALUATION ALLOWANCE IS PROVIDED WHEN REALIZATION OF A DEFERRED TAX ASSET IS UNLIKELY. DEFERRED INCOME TAXES RESULT PRIMARILY FROM DIFFERENCES IN THE ACCOUNTING FOR FINANCIAL AND TAX REPORTING PURPOSES FOR DEPRECIATION EXPENSE, PREPAID EXPENSES, ALLOWANCE FOR UNCOLLECTIBLE ACCOUNTS, ACCRUED VACATION, ACCRUED SALARIES AND BONUSES, AND THE UNREALIZED GAIN OR LOSS ON MARKETABLE SECURITIES. THE ASSOCIATION'S INCOME TAX RETURNS ARE SUBJECT TO EXAMINATION BY FEDERAL AND STATE AUTHORITIES IN ACCORDANCE WITH PRESCRIBED STATUTES. PART XI, LINE 2D - OTHER ADJUSTMENTS: FORIUS REVENUE REPORTED ON A SEPARATE RETURN 2,720,991. PART XI, LINE 4B - OTHER ADJUSTMENTS: INTERCOMPANY INCOME ELIMINATED IN CONSOLIDATION 388,220. PART XII, LINE 2D - OTHER ADJUSTMENTS: FORIUS EXPENSES REPORTED ON A SEPARATE RETURN 2,890,320. PART XII, LINE 4B - OTHER ADJUSTMENTS: INTERCOMPANY EXPENSES ELIMINATED IN CONSOLIDATION 388,220. 0 0 0 TONI NUERNBERG PRESIDENT AND COO 0 144700 0 15199 0 768 0 5097 0 23506 0 189270 0 0 PART I, LINE 3 THE FILING ORGANIZATION RELIED ON A RELATED ORGANIZATION TO DETERMINE THE COMPENSATION FOR THE PRESIDENT AND CHIEF OPERATING OFFICER. THE RELATED ORGANIZATION USED THE FOLLOWING PRACTICES FOR DETERMINING COMPENSATION: (1)COMPENSATION COMMITTEE (EXECUTIVE COMMITTEE) (2)WRITTEN EMPLOYMENT CONTRACT (3)APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE CONSISTS OF THE OFFICERS OF THE BOARD (OTHER THAN THE PRESIDENT, TREASURER AND SECRETARY). IT HAS THE AUTHORITY TO ACT BETWEEN MEETINGS OF THE BOARD OF DIRECTORS, AND ALL DECISIONS MUST BE REPORTED TO THE BOARD AT THE NEXT REGULARLY SCHEDULED MEETING. THE PRESIDENT'S PERFORMANCE REVIEW AND COMPENSATION IS THE EXCLUSIVE RESPONSIBILITY OF THE EXECUTIVE COMMITTEE. FORM 990, PART VI, SECTION A, LINE 6 1. CORPORATE MEMBERSHIP; 2. SOCIAL MEMBERSHIP; 3. HONORARY MEMBERSHIP; 4. ALLIED MEMBERSHIP FORM 990, PART VI, SECTION A, LINE 7A CORPORATE MEMBERS EACH HAVE ONE VOTE TO ELECT THE BOARD OF DIRECTORS. NO OTHER MEMBER CATEGORY HAS VOTING RIGHTS. FORM 990, PART VI, SECTION A, LINE 7B AMENDMENTS TO THE ARTICLES OF INCORPORATION MUST BE APPROVED BY A MAJORITY OF MEMBERS WITH VOTING RIGHTS. FORM 990, PART VI, SECTION B, LINE 11B THE PRESIDENT/COO AND CONTROLLER WILL REVIEW FORM 990 AND PROVIDE A FULL COPY TO THE BOARD OF DIRECTORS BEFORE IT IS FILED WITH THE IRS. FORM 990, PART VI, SECTION C, LINE 18 THE ORGANIZATION DOES NOT MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION DOES NOT MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. FORM 990, PART XI, LINE 9: LOSS ON INVESTMENT IN SUBSIDIARY -169,329. FORIUS BUSINESS CREDIT RESOURCES INC 600 HIGHWAY 169 S SUITE 1101 ST LOUIS PARK MN 55426 410132530 PROVIDES PRODUCTS AND SERVICES RELATED TO COMMERCIAL CREDIT INFORMATION MN NACM NORTH CENTRAL C 2720991 781833 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 FORIUS BUSINESS CREDIT RESOURCES INC M 388220 CASH TRANSFERRED