Legal Newsline

Monday, January 27, 2020

Attorneys general group's records show $71M in assets

By John O'Brien | Feb 25, 2015

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WASHINGTON (Legal Newsline) – Forty-one state attorneys general met this week at the Ritz Carlton in Washington, D.C., for the National Association of Attorneys General’s annual Winter Meeting, part of NAAG’s apparent $1 million-plus budget for such events.

NAAG hosts more than 100 meetings and training events each year, according to its site, including this year’s Summer Meeting at Hilton La Jolla Torrey Pines in San Diego and its Fall Meeting at Charleston Place in South Carolina.

According to NAAG’s most recent available Form 990 filing, it spent more than $1.6 million in conferences, conventions and meetings in 2012 – more than half of its total functional expenses.

The group had more than $71 million in assets by the end of 2012, including more than $62 million in investments. That figure jumped almost $5 million during the year listed.

NAAG also received $10 million in 2012’s $25 billion settlement with the five largest mortgage servicers.

Earlier this month, NAAG received $4.5 million in a multi-state settlement with Standard & Poor’s.

Other meetings being held by NAAG this year include:

-The Presidential Initiative Summitt in Biloxi, Miss.;

-The Chief Deputies Meeting in Austin, Texas;

-Fourteen training seminars between March 5 and June 30; and

-Consumer Protection Meetings in May and November.

NAAG’s stated mission is: “To facilitate interaction among attorneys general as peers and to facilitate the enhanced performance of attorneys general and their staffs.”

According to the 990 form, NAAG has nine employees making between $101,240 and $184,513.

It listed $629,873 in registration income and $117,499 from sponsorships.

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