Baft Inc
- Assets
- $1.3m
- Revenue
- $4.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Washington, DC
- Founding
- 07/2006
- Data as of
- 08/2023
- EIN
- 11-3642835
Organization Overview
Baft Inc is located in Washington, DC. The organization was established in 2006. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Baft Inc 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 08/2023, Baft Inc generated $4.7m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 1.4% each year. All expenses for the organization totaled $3.9m during the year ending 08/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
ASSOCIATION FOR ORGANIZATIONS ACTIVELY ENGAGED IN INTERNATIONAL TRANSACTION BANKING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONFERENCES/WORKSHOPS:PROVIDE THOUGHT LEADERSHIP AND EDUCATIONAL SESSIONS TO THOSE INVOLVED IN TRANSACTION BANKING TO KEEP THEM ABREAST OF THE LATEST ISSUES AND CHALLENGES FACING THE INDUSTRY. APPROXIMATELY 10 CONFERENCES AND WORKSHOPS WERE HELD IN IN-PERSON, VIRTUAL, AND HYBRID FORMATS. IN-PERSON/HYBRID EVENTS WERE OFFERED IN SEVERAL CITIES AND REGIONS ACROSS THE GLOBE, ALLOWING FOR BILATERAL MEETINGS AND NETWORKING AMONG ATTENDEES.
MEMBERSHIPTHE FOLLOWING ITEMS ARE INCLUDED WITH MEMBERSHIP TO ENHANCE CURRENT KNOWLEDGE AND INFORMATION SHARING: - PARTICIPATE IN COUNCILS AND COMMITTEES WHERE MEMBERS SHARE BEST PRACTICES AND SHARE IDEAS, ADDRESS CHALLENGES, DEVELOP AND PARTICIPATE IN WORKING GROUPS- QUARTERLY NEWSLETTER UPDATES - MEMBERSHIP DIRECTORY- PERIODIC WEBINARS ON TOPICS OF INTEREST- ACCESS TO BEST PRACTICE DOCUMENTS, STANDARD TRADE AGREEMENTS, POLICY DOCUMENTS AND COMMENT LETTERS, AND RECORDED WEBINARS
EDUCATION AND TRAININGA VARIETY OF ON-DEMAND ONLINE EDUCATION CERTIFICATE PROGRAMS RELATED TO TRADE FINANCE, TRANSACTION BANKING, AND CASH MANAGEMENT AIMED AT A VARIETY OF PROFILES AND LEVELS OF EXPERTISE WITHIN THE BANKING INDUSTRY AND CORPORATES INVOLVED IN TRANSACTION BANKING ARE OFFERED. ADDITIONAL CUSTOM TRAINING SOLUTIONS (VIRTUAL OR IN-PERSON) ARE OFFERED ON TRANSACTION BANKING-RELATED TOPICS PER REQUEST OF BANKS AND OR PROVIDERS IN THE TRANSACTION BANKING SPACE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tod Burwell President & CEO | OfficerTrustee | 37.5 | $0 |
Suresh Subramanian Chair | OfficerTrustee | 1 | $0 |
Maram Al-Jazireh Past Chair | OfficerTrustee | 1 | $0 |
Nick Smit Vice Chair | OfficerTrustee | 1 | $0 |
Mark Garfield Past Chair Until 05/23 | OfficerTrustee | 1 | $0 |
Michelle Knowles Secretary/treasurer | 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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $4,717,556 |
| Investment income | $0 |
| 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 | $4,717,556 |
| 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. | $437,106 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,127,171 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $348,726 |
| Payroll taxes | $97,876 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,450 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $408,325 |
| Advertising and promotion | $14,340 |
| Office expenses | $60,585 |
| Information technology | $263,018 |
| Royalties | $0 |
| Occupancy | $200,682 |
| Travel | $147,479 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $588,658 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | -$89,753 |
| Total functional expenses | $3,874,664 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $54,375 |
| 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 | $17,632 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,198,222 |
| Total assets | $1,270,229 |
| Accounts payable and accrued expenses | $69,744 |
| Grants payable | $0 |
| Deferred revenue | $739,347 |
| 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 | $0 |
| Other liabilities | $0 |
| Total liabilities | $809,091 |
| Net assets without donor restrictions | $461,138 |
| 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 | $1,270,229 |