Saturday, November 17, 2012

NOM's 2011 Financials

National Organization for Marriage has made the 2011 IRS filing (form 990) available. I would caution people not to jump to conclusions regarding the significant decrease in contributions. 2011 was an off year with the exception of New York and NOM seems to get large contributions related to their needs. Indeed, in 2011 NOM decreased their net asset deficit by about $400,000. Moreover, the board approved nominal raises for all of the executives and accounts payable at the end of the year were a third less than the prior year. I don't think that NOM was in dire financial straits at the end of 2011.

That's not to say that there aren't some interesting issues. For example, NOM received roughly 76% of its contributions from just two donors identified as individuals. Presumably these are defenders of the faith who perceive this as a religious obligation.

Another interesting item is that NOM was reimbursed expenses at 2.6 times the amount from the prior year. There are no accrued expenses receivable at the end of 2010 so these are funds, $940K, that were disbursed and recouped in 2011.

When I have the time and inclination, I'll do three years of line item comparisons on a spread sheet. I'll also develop a source and application of funds to reconcile "working capital" over three years. I'll post these to scribd with a link and notes here.
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