2026-09-02T07:52:40-05:00 2025-12-31 201518594 RFH PLLC 300 WEST VINE STREET STE 800 LEXINGTON KY 405071812 990EZ 2025-01-01 473189715 NASRA EDUCATIONAL FOUNDATION NASR 2026248462 449 LEWIS HARGETT CIRCLE STE 290 LEXINGTON KY 405033590 DANA BILYEU EXECUTIVE DIRECTOR 2026241419 2026-08-31 1 TYLER FALLIN CPA P01633182 8592311800 2025 X X N/A X X 11000 X 11000 11000 27600 39052 66652 -55652 337900 0 282248 X 280484 231384 57416 50864 337900 282248 0 0 337900 282248 X THE MISSION OF NASRA EDUCATIONAL FOUNDATION IS THE IMPROVEMENT OF THE ADMINISTRATION OF PUBLIC EMPLOYEE RETIREMENT SYSTEMS IN THE UNITED STATES. THE IMPROVEMENT OF THE ADMINISTRATION OF PUBLIC EMPLOYEE RETIREMENT SYSTEMS IN THE UNITED STATES. 27600 39052 39052 KERRIE VANDEN BOSCH DIRECTOR 0.50 0 0 0 ERIN LEONARD DIRECTOR 0.50 0 0 0 KAREN CARRAHER DIRECTOR 0.50 0 0 0 DAN ANDERSON DIRECTOR 0.50 0 0 0 BRIAN GUTHRIE DIRECTOR 0.50 0 0 0 X 0 0 0 0 0 0 0 0 0 0 0 0 0 0 KY LORI SLAGLE FINANCE MANAGER 449 LEWIS HARGETT CIRCLE NO 290 LEXINGTON KY 40503 8592761147 0 0 0 0 0 0 0 0 0 1 0 NONE NONE 1 X 26500 11972 1500 11000 50972 26500 11972 1500 11000 50972 50972 50972 1.00000 0.20350 X THE NASRA RESEARCH AND EDUCATION FOUNDATION (NREF) MEETS ALL ASPECTS OF THE TEST TO RETAIN ITS STATUS AS A PUBLIC CHARITY. NREF'S MISSION IS TO ENGAGE IN ACTIVITIES THAT BENEFIT THE PUBLIC THROUGH ANALYSIS, RESEARCH AND POLICY SUPPORT FOR COST-EFFECTIVE MANAGEMENT OF PUBLIC PENSION FUNDS THAT HELP TO DELIVER PUBLIC SERVICE AT A REASONABLE, WELL-MANAGED COST, THROUGH RESEARCH THAT SERVES PUBLIC OFFICIALS, POLICYMAKERS, AND THE GENERAL PUBLIC IN UNDERSTANDING PUBLIC PENSION PLANS AND RETIREMENT SECURITY ISSUES. THIS STATEMENT OUTLINES HOW NREF MEETS THE STANDARDS EXPECTED OF A PUBLIC CHARITY .1. SOURCES OF PUBLIC SUPPORT NREF RECEIVES A SIGNIFICANT PORTION OF ITS FUNDING FROM STATE AND LOCAL GOVERNMENT ENTITIES, THE GENERAL PUBLIC, AND SOME GOVERNMENT SUPPORT THROUGH PROJECT-BASED WORK ACCOMPLISHED BY NREF FOR INDIVIDUAL STATE GOVERNMENTS. NREF'S OVERALL PUBLIC SUPPORT REMAINS ABOVE THE 10% (100%) MINIMUM THRESHOLD. FOR 2025, DONATIONS ARE EXPECTED TO COME ENTIRELY FROM PUBLIC SOURCES, FURTHER STRENGTHENING THE FOUNDATION'S PUBLIC SUPPORT PERCENTAGE AND ENSURING COMPLIANCE WITH PUBLIC CHARITY STATUS REQUIREMENTS.2. CONTINUOUS PROGRAM OF PUBLIC SOLICITATIONNREF MAINTAINS A CONTINUOUS EFFORT TO SOLICIT CONTRIBUTIONS FROM VARIOUS SOURCES, INCLUDING THE PUBLIC AND GOVERNMENT UNITS. IN NOVEMBER 2024, NREF CONDUCTED A SOLICITATION DRIVE TARGETING NASRA'S CORPORATE PREMIUM MEMBERS, PART OF AN ONGOING EFFORT TO SECURE PUBLIC SUPPORT IN COMPLIANCE WITH IRS CODE SECTION 170. THIS SOLICITATION DRIVE UNDERSCORES NREF'S COMMITMENT TO A SUSTAINED AND BONA FIDE FUNDRAISING PROGRAM THAT ALIGNS WITH PUBLIC CHARITY REQUIREMENTS.3. BREADTH AND DIVERSITY OF DONORSTO ENSURE A BROAD AND DIVERSE BASE OF SUPPORT, NREF SOLICITS DONATIONS FROM NASRA ASSOCIATE MEMBERS (PRIVATE CORPORATIONS SERVING THE PUBLIC EMPLOYEE RETIREMENT INDUSTRY), INDIVIDUALS, AND VARIOUS NON-GOVERNMENTAL SOURCES. THIS DIVERSIFIED APPROACH REDUCES RELIANCE ON A LIMITED NUMBER OF SOURCES AND DEMONSTRATES CONTINUOUS AND GROWING BROAD PUBLIC SUPPORT. 4. NATURE OF THE ORGANIZATION'S ACTIVITIES AND PUBLIC BENEFITNREF'S MISSION TO PRODUCE AND SUPPORT HIGH-QUALITY RESEARCH ON PUBLIC PENSION PLANS AND RETIREMENT SECURITY DEMONSTRATES ITS COMMITMENT TO THE PUBLIC GOOD. THE RESEARCH DIRECTLY BENEFITS NASRA, OTHER NONPROFITS, AND GOVERNMENT ENTITIES BY PROVIDING INSIGHTS THAT INFORM PUBLIC POLICY AND RETIREMENT PLANNING FOR MILLIONS OF AMERICAN WORKERS, THUS FULFILLING A CHARITABLE PURPOSE THAT SERVES A BROAD PUBLIC BENEFIT. THE GENERAL PUBLIC ALSO BENEFITS FROM THIS RESEARCH IN THAT GOVERNMENTS CAN RELY ON EVIDENCED-BASED INFORMATION WHEN CONSIDERING BROAD PUBLIC POLICY ON RETIREMENT FUNDING AND SECURITY, NOT ONLY FOR THE BENEFIT OF MILLIONS OF PUBLIC SECTOR EMPLOYEES, BUT AS THE NATION CONTINUES TO CONSIDER HOW BEST TO INSURE RETIREMENT SECURITY FOR ALL AMERICANS.5. COMPOSITION OF THE GOVERNING BOARDNREF'S BOARD IS COMPRISED OF PUBLIC OFFICIALS SERVING IN THEIR OFFICIAL CAPACITIES AS WELL AS PRIVATE SECTOR INDIVIDUALS SELECTED BASED ON THEIR EXPERTISE IN PUBLIC PENSION ADMINISTRATION. THE NREF BOARD COMPOSITION IS UPDATED YEARLY, INVOLVING VARIOUS STATE DIRECTORS AS WELL AS THE EXECUTIVE DIRECTOR OF NASRA WHOSE BACKGROUND INCLUDES EXPERTISE IN LOCAL, STATE, AND FEDERAL RETIREMENT PROGRAMS, AS WELL AS BROAD EXPERTISE IN SOCIAL SECURITY PROGRAMS AND ADMINISTRATION. THIS STRUCTURE ENSURES THAT THE FOUNDATION'S GOVERNANCE REFLECTS THE INTERESTS OF THE COMMUNITY AND ENHANCES PUBLIC ACCOUNTABILITY. NREF'S DIVERSE BOARD COMPOSITION FULLY ALIGNS WITH THE IRS'S REQUIREMENTS FOR A REPRESENTATIVE GOVERNING BODY.6. PUBLIC PARTICIPATION IN PROGRAMS AND ACTIVITIESNREF ENCOURAGES PUBLIC PARTICIPATION PARTICULARLY IN THE POLICY SUPPORT FOR FORUMS DEDICATED TO NATIONAL RETIREMENT SECURITY POLICY, ENSURING THAT ITS RESEARCH AND ACTIVITIES ARE ACCESSIBLE TO A BROAD AUDIENCE. NREF ALSO SUPPORTS THE BROAD AVAILABILITY OF ELECTRONIC ACCESS TO RETIREMENT RESEARCH THROUGH ACCESSIBLE WEBSITES AND PUBLICATIONS. THIS ENGAGEMENT IS DESIGNED TO CREATE REPOSITORIES OF DATA THAT CAN BE USED BY RESEARCH INSTITUTIONS AND THE GENERAL PUBLIC ON BOTH PUBLIC RETIREMENT SYSTEMS AND GUIDING PRINCIPLES FOR RETIREMENT SECURITY.7. PRIOR SUPPORT HISTORYTHE IRS RECOGNIZES THAT NEWER ORGANIZATIONS MAY EXPERIENCE TEMPORARY LIMITATIONS IN MEETING PUBLIC SUPPORT THRESHOLDS. HOWEVER, WITH PROJECTED PUBLIC DONATIONS IN 2025 AND 2026, NREF IS ON TRACK TO STRENGTHEN ITS SUPPORT BASE AND MAINTAIN COMPLIANCE AS A PUBLICLY SUPPORTED CHARITY.8. SPECIAL CIRCUMSTANCESNREF IS A NEW ORGANIZATION WITH A VERY SPECIFIC PUBLIC AUDIENCE AND PUBLIC SUPPORT. THIS TEMPORARY IMPACT ON PUBLIC SUPPORT PERCENTAGES REFLECTS UNIQUE CIRCUMSTANCES ACKNOWLEDGED BY THE IRS. NREF'S ONGOING STRUCTURAL DEVELOPMENT WILL ATTRACT A BROADER BASE OF PUBLIC DONATIONS AND GOVERNMENT SUPPORT IN 2026. THESE EFFORTS ARE DESIGNED TO SOLIDIFY ITS PUBLIC SUPPORT PERCENTAGE, ENSURING THAT IT MEETS THE NECESSARY THRESHOLDS.9. PUBLIC RECOGNITION AND ACCOUNTABILITYNREF IS COMMITTED TO TRANSPARENCY AND ACCOUNTABILITY, WITH PUBLIC RECOGNITION OF ITS RESEARCH CONTRIBUTIONS THROUGH VARIOUS CHANNELS. THE FOUNDATION PROVIDES ANNUAL REPORTING AND MAINTAINS PUBLIC DISCLOSURES TO ENSURE TRANSPARENCY AND PUBLIC TRUST. THESE PRACTICES DEMONSTRATE NREF'S ACCOUNTABILITY TO THE COMMUNITY AND REINFORCE ITS ALIGNMENT WITH THE PUBLIC CHARITY MODEL.IN SUMMARY, NREF FULLY COMPLIES WITH IRS REQUIREMENTS FOR PUBLIC CHARITY STATUS THROUGH A COMBINATION OF SUBSTANTIAL PUBLIC AND GOVERNMENTAL SUPPORT, AN EXPANDING SOLICITATION PROGRAM, AND A REPRESENTATIVE GOVERNANCE STRUCTURE. THIS COMMITMENT ENSURES THAT NREF REMAINS A PUBLICLY SUPPORTED CHARITY, ALLOWING IT TO CONTINUE ITS EDUCATIONAL MISSION AND VALUABLE CONTRIBUTIONS TO THE PUBLIC SECTOR. FORM 990-EZ, PART I, LINE 10 - GRANTS AND SIMILAR AMOUNTS PAID ACTIVITY CLASSIFICATION: GRANTS. GRANTEE NAME: NATIONAL ASSOCIATION OF STATE RETIREMENT GRANTEE NAME: NATIONAL ASSOCIATION OF STATE RETIREMENT. GRANTEE ADDRESS: 449 LEWIS HARGETT CIRCLE, STE 290 LEXINGTON, KY 40503. GRANTEE RELATIONSHIP: RELATED ORGANIZATION. DATE OF GIFT: 06/25/25. AMOUNT GIVEN: 27,600. FORM 990-EZ, PART I, LINE 16 - OTHER EXPENSES DESCRIPTION: NIRS CONTRIBUTION. AMOUNT: 25,000. DESCRIPTION: WEBSITE. AMOUNT: 7,500. DESCRIPTION: AMORTIZATION EXPENSE. AMOUNT: 6,552. TOTAL TO FORM 990-EZ, LINE 16: 39,052. FORM 990-EZ, PART II, LINE 24 - OTHER ASSETS DESCRIPTION: PREPAID EXPENSE. BEG. OF YEAR AMOUNT: 5,000. END OF YEAR AMOUNT: 5,000. DESCRIPTION: WEBSITE ASSET. BEG. OF YEAR AMOUNT: 52,416. END OF YEAR AMOUNT: 45,864. THE ORGANIZATION DID NOT, DURING THE YEAR, RECEIVE ANY FUNDS, DIRECTLY,OR INDIRECTLY, TO PAY PREMIUMS ON A PERSONAL BENEFIT CONTRACT.THE ORGANIZATION, DID NOT, DURING THE YEAR, PAY ANY PREMIUMS, DIRECTLY,OR INDIRECTLY, ON A PERSONAL BENEFIT CONTRACT.