National Association of State Treasurers

What National Association of State Treasurers does

The National Association of State Treasurers (NAST) is a Washington, DC-based nonprofit professional association founded in 1976 that represents State Treasurers and state finance officials from all 50 states, U.S. commonwealths, territories, and the District of Columbia. NAST operates the State Debt Management Network (SDMN), formed in 1991 as a dedicated network focused on issuers and managers of state debt, collectively overseeing roughly $900 billion in municipal securities.

SDMN delivers its value through five interconnected program areas: (1) a Resource Library covering webinars, advocacy letters, policy updates, and topical guides on tax/IRS, refundings, reference rates, ratings/risk, markets, investor relations, ESG, and the Financial Data Transparency Act; (2) a Webinar Library featuring educational programming on debt management, LIBOR transition, and bond ratings; (3) an Advocacy Center that tracks federal legislation affecting state debt; (4) Education Programs including the Bonds 101/201 webinar series; and (5) a Membership Program granting access to listservs, forums, premium content, and discounted conference rates. The technology foundation is a standard professional association platform — website, webinar infrastructure, and listserv communication — with no disclosed proprietary software, AI, or API surface.

The revenue model is membership dues-based (specific pricing not publicly disclosed), with state-level dues being the gating mechanism for individual employee memberships. Distribution is entirely domestic and direct-via-membership; the organization is governed by an executive board of sitting state treasurers and debt managers, and led professionally by an executive director, policy director, and association director operating from a small (1–10 employee) headquarters at 1201 Pennsylvania Ave NW, Suite 800.

Name

National Association of State Treasurers

Legal name

State Debt Management Network (SDMN), a Network of the National Association of State Treasurers

Website

https://sdmn.org

Company type

Private

Founded year

1991

Operating status

Operating

Headcount range

1–10 employees

Short description

NAST is a Washington, DC-based nonprofit association representing state treasurers across all 50 U.S. states and territories. Its State Debt Management Network provides professional education, policy advocacy, and peer networking for state debt issuers and managers overseeing roughly $900 billion in municipal securities.

Ownership category

akta.pro rank

Product category

Professional Association Services (State Treasury / Public Finance)

SIC

Finance Services (6199)

akta.pro primary industry

Public Debt Management (BPAIAEAC)

akta.pro secondary industries

Private Placements (144A/Reg S/MTN) (FSACABAK), Supranational, Sub-Sovereign & Agency (SSA) Bonds (FSACABAD)

Keywords

• State debt management
• Municipal securities
• Public finance advocacy
• Treasury professional development
• Government debt education

Headquarters

HQ city

Washington

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D

Distribution channels1 record

Marketing channels4 records

Core offering

State Debt Management Network (SDMN), a network of the National Association of State Treasurers, provides professional education, federal policy advocacy, and peer networking for state debt issuers and managers across all 50 U.S. states. Core offerings include a Resource Library, an Advocacy Center tracking federal legislation on municipal bonds, the Bonds 101/201 Education Program webinar series, and a Membership Program providing listservs, forums, premium content, and discounted conference rates.

Product overview

The State Debt Management Network (SDMN) is a professional organization operated as a network of the National Association of State Treasurers. It is not a software product but rather a membership-based professional organization offering a platform of interconnected services: a Resource Library containing webinars, policy updates, and reports on state debt management topics; an Advocacy Center for tracking federal legislation affecting municipal bonds; Education Programs including the Bonds 101/201 series; and Membership Services providing networking, listservs, and conference discounts. The organization focuses on serving public officials from all branches of state government who manage state bonds and municipal securities.

Differentiator

Problem solved

Functional benefit

Products and services

• SDMN Membership Program Professional membership network for state employees involved in state debt issuance and management, providing access to listservs, forums, premium content, discounted conference rates, and policy updates. Membership eligibility requires that the state's dues are current.
• SDMN Education Programs (Bonds 101 and 201)

Named customers1 record

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Eight partnerships are on record, tiered core, major and minor.

• Municipal Securities Rulemaking Board (MSRB)coreStrategic or Co-development PartnerNAST maintains a strategic relationship with MSRB, the self-regulatory organization for the municipal securities market. NAST has long held that the MSRB Board should have at least one State Treasurer. NAST provides input on MSRB strategic goals, rulemaking (including A-3 rulemaking), and EMMA system development. NAST serves as a resource for market data and issuer perspective.
• Government Finance Officers Association (GFOA)coreStrategic or Co-development PartnerNAST participates in the GFOA-led LIBOR Industry Working Group focused on preparing municipal issuers for the end of LIBOR. GFOA first convened the Disclosure Industry Group (DIG) in July 2019, where NAST serves as a member. Joint advocacy on COVID-19 relief including Municipal Liquidity Facility extension and CSLFRF guidance.
• Public Finance Network (PFN)coreStrategic or Co-development PartnerPFN is a coalition of state and local government interests. SDMN and NAST participate in PFN to advocate for municipal bond market issues including advance refunding bonds, bank qualified debt, and direct subsidy bonds. PFN coordinates on legislative advocacy and regulatory comments.
• LIBOR Industry Working GroupmajorStrategic or Co-development PartnerNAST participates in the GFOA-led LIBOR Industry Working Group, which focuses specifically on preparing municipal issuers for the end of LIBOR. The group publishes guidance documents like 'On the Hunt for LIBOR' to help state and local issuers identify potential LIBOR exposure.
• Disclosure Industry Group (DIG)majorStrategic or Co-development PartnerNAST has served on DIG since its formation in July 2019, convened by GFOA to find market-driven solutions to municipal disclosure issues. DIG developed eight considerations for issuer guidance on timely disclosure, particularly relevant during the COVID-19 pandemic.
• National Federation of Municipal Analysts (NFMA)majorStrategic or Co-development PartnerNFMA released a White Paper on Best Practices in Cybersecurity Risk Disclosure for State & Local Governments in Municipal Offerings. SDMN promotes this resource to members on investor relations and risk management topics.
• Securities and Exchange Commission (SEC)coreOthersNAST submitted comments on FDTA proposed rulemaking to the SEC. The FDTA requires SEC to oversee rulemaking for new data standards for MSRB. NAST advocates on behalf of state issuers regarding SEC regulatory requirements.
• American Bankers AssociationminorOthersABA owns CUSIP Global Services and is pushing back against FDTA's proposal to replace CUSIP with Bloomberg's FIGI identifier. NAST joined the Public Finance Network comment letter supporting municipal bond interests in this regulatory matter.

Scale indicators2 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Government Finance Officers Association (GFOA): GFOA is a direct peer — a larger professional association for public finance officials covering state and local government. NAST/SDMN participates in GFOA-led working groups (LIBOR, DIG), making GFOA both a partner and competitor for state-debt-manager mindshare and programming.
• National Association of State Auditors, Comptrollers and Treasurers (NASACT): NASACT serves state treasurers, comptrollers, and auditors and overlaps materially with NAST on state financial officer membership and advocacy. It is the most directly comparable peer organization by member base and mission.
• National Federation of Municipal Analysts (NFMA): NFMA is a partner organization of NAST/SDMN focused on municipal market analysts and disclosure practices. It produces issuer-facing guidance (e.g., cybersecurity disclosure white paper) that SDMN promotes to its members, making it a directly comparable advocacy/education peer in the state-and-municipal space.

Others

• Municipal Securities Rulemaking Board (MSRB): MSRB is the self-regulatory organization for the municipal securities market and a strategic counterpart to NAST/SDMN. It is not a competing membership association but a regulatory peer whose rulemaking directly drives SDMN's advocacy agenda.

Broad incumbents

• American Bankers Association (ABA): ABA is a broad-incumbent trade association for the US banking industry with active involvement in municipal securities (CUSIP ownership) and federal policy advocacy on FDTA, advance refunding, and tax-exemption — making it a frequent counterparty and policy peer to SDMN.
• National Association of Bond Lawyers (NABL): NABL is a broader professional association for bond lawyers and counsel active in municipal bond issuance — a structural adjacent peer serving the same municipal bond ecosystem that SDMN addresses from the issuer side.
• Securities Industry and Financial Markets Association (SIFMA): SIFMA is the broad-incumbent trade association for the securities industry with material municipal securities division activity. It engages with the same SEC, MSRB, and IRS policy levers as SDMN, and is a relevant peer for understanding the broader market context SDMN members operate in.

Regional players

• National Governors Association (NGA): NGA represents governors (who appoint state treasurers) and operates at the federal-state intersection, overlapping with NAST on state-federal policy. It is a comparable US-domestic policy and convening organization rather than a direct competitor for member services.
• Council of State Governments (CSG): CSG is a US-domestic, nonpartisan association of state government officials that overlaps with NAST's state-government member base and convening function. It is comparable as an adjacent state-officer association rather than a direct issuer-focused competitor.
• National Association of Counties (NACo): NACo represents county governments and is a peer member-based association engaging federal policymakers on local government finance — adjacent to SDMN's state-level focus but operating in the same broader state-and-local public-finance ecosystem.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/StateTreasurers

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Funding overview

Funding rounds

Investors

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M&A

Investments

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Frequently asked questions about National Association of State Treasurers