Maine Bankers Association
- Assets
- $2.1m
- Revenue
- $2.6m
- Investments
- $130.5k
- Employees
- 14
- Location
- Westbrook, ME
- Founding
- 07/1943
- Data as of
- 12/2021
- EIN
- 01-0155360
Organization Overview
Maine Bankers Association is located in Westbrook, ME. The organization was established in 1943. According to its NTEE Classification (S21) the organization is classified as: Community Coalitions, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Maine Bankers Association employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Maine Bankers Association is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2021, Maine Bankers Association generated $2.6m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.3%) each year. All expenses for the organization totaled $2.5m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (2.4%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
MAINE BANKERS ASSOCIATION PROVIDES ADVOCACY, EDUCATION, AND RESOURCES TO SAFEGUARD AND ADVANCE THE INTERESTS OF OUR MEMBERS. THE MAINE BANKERS ASSOCIATION HAS SERVED MAINE'S BANKING INDUSTRY SINCE 1893. THE ASSOCIATION OFFERS INDUSTRY REPRESENTATION IN LEGISLATIVE AND REGULATORY MATTERS AT THE STATE AND FEDERAL LEVEL. IT SPONSORS EDUCATIONAL PROGRAMS AND FORUMS FOR BANKS TO EXCHANGE VALUABLE INDUSTRY INFORMATION. THE ASSOCIATION ALSO SPONSORS INSURANCE PROGRAMS, PROVIDES REGULATORY AND COMPLIANCE ASSISTANCE AND FACILITATES MEDIA RELATIONS ON BEHALF OF MEMBER BANKS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MAJOR CONFERENCES - EACH YEAR MAJOR CONFERENCES ARE PRESENTED BY THE ASSOCIATION. EACH CONFERENCE HAS A DISTINCT AUDIENCE. THE ATTENDANCE AND LENGTH MAY VARY. PARTICIPANTS ARE CHARGED A FEE TO OFFSET EXPENSES.
TRAINING PROGRAMS - TRAINING SESSIONS ARE PRESENTED THROUGHOUT THE YEAR FOR ALL MEMBERS. SESSIONS ARE USUALLY ONE DAY AND HAVE A VARYING NUMBER OF PARTICIPANTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christopher W Pinkham Past President | Officer | 36.32 | $266,627 |
Marcia M Ferguson SVP Of Insurance | Officer | 4.35 | $172,524 |
Marc P Owen SVP & Treasurer | Officer | 20.45 | $169,714 |
James J Roche President | Officer | 36.18 | $134,853 |
Kathy M Keneborus VP Of Government Relations | 37.4 | $131,186 | |
Curtis C Simard Chairman | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $50,620 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $50,620 |
| Total Program Service Revenue | $2,540,776 |
| Investment income | $4,743 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,596,139 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $834,514 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $674,287 |
| Pension plan accruals and contributions | $39,865 |
| Other employee benefits | $185,693 |
| Payroll taxes | $90,647 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $44,996 |
| Fees for services: Accounting | $25,708 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $35,607 |
| Advertising and promotion | $3,110 |
| Office expenses | $40,384 |
| Information technology | $99,792 |
| Royalties | $0 |
| Occupancy | $108,729 |
| Travel | $13,670 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $204,746 |
| Interest | $3,550 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $12,630 |
| Insurance | $20,296 |
| All other expenses | $15,353 |
| Total functional expenses | $2,453,577 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $70,017 |
| Savings and temporary cash investments | $1,570,877 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $62,074 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $33,224 |
| Net Land, buildings, and equipment | $43,124 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $130,455 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $227,361 |
| Total assets | $2,137,132 |
| Accounts payable and accrued expenses | $483,390 |
| Grants payable | $0 |
| Deferred revenue | $930,428 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $31,207 |
| Other liabilities | $227,361 |
| Total liabilities | $1,672,386 |
| Net assets without donor restrictions | $464,746 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $2,137,132 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Maine Bankers Association Westbrook, ME | $2,137,132 | $2,596,139 |
Christmas Cove Improvement Assoc Damariscotta, ME | $2,237,438 | $468,534 |
Washington County Council Of Govern Ments Calais, ME | $133,016 | $260,699 |
Hales Location Owners Association Inc Hales Location, NH | $1,064,642 | $524,446 |
National Rural Letter Carriers Association Farmington, ME | $317,899 | $0 |
National Rural Letter Carriers N H State Farmington, NH | $252,923 | $97,815 |
Human Action Foundation Lee, NH | $488,319 | $28,173 |
Gateway Milbridge Milbridge, ME | $914,127 | $249,994 |
Mascoma Valley Preservation Grafton, NH | $556,400 | $314,310 |
Third Place Inc Portland, ME | $71,983 | $0 |
We Heart West W Manchester, NH | $6,953 | $0 |
Casino Free New Hampshire Inc Keene, NH | $234 | $0 |