New York Bankers Association Inc
- Assets
- $32.9m
- Revenue
- $5.0m
- Investments
- $0.0
- Employees
- 16
- Location
- New York, NY
- Founding
- 06/1987
- Data as of
- 04/2023
- EIN
- 13-1882974
Organization Overview
New York Bankers Association Inc is located in New York, NY. The organization was established in 1987. According to its NTEE Classification (W03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Public & Societal Benefit and related organizations. As of 04/2023, New York Bankers Association Inc employed 16 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New York Bankers Association 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 04/2023, New York Bankers Association Inc generated $5.0m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.4% each year. All expenses for the organization totaled $5.4m during the year ending 04/2023. 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
NEW YORK BANKERS ASSOCIATION REPRESENTS COMMUNITY, REGIONAL AND MONEY CENTER COMMERCIAL BANKS AND THRIFT INSTITUTIONS IN NEW YORK STATE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NYBA'S PRIMARY SERVICE IS TO PROMOTE THE GENERAL WELFARE AND USEFULNESS OF BANKS, TRUST COMPANIES AND BANKING ORGANIZATIONS AND ACTIVITIES CLOSELY RELATED TO BANKING AND FINANCIAL SERVICES AND TO ENCOURAGE THE HIGHEST POSSIBLE BANKING STANDARDS. NYBA IS A TRADE ASSOCIATION OF BANKS AND RELATED FINANCIAL INSTITUTIONS WHICH SHARE COMMON BUSINESS INTERESTS AND COMMON RESPONSIBILITIES TO GOVERNMENT, INDUSTRY AND COMMERCE AND TO CONSUMERS.
NYBA OFFERED OVER 500 TRAINING PROGRAMS THROUGHOUT THE YEAR, AS WELL AS CONFERENCES AND MEETINGS TO SERVE VARIOUS SEGMENTS OF OUR MEMBERSHIP. A WIDE RANGE OF TRAINING PROGRAMS ARE OFFERED THROUGH OUR EDUCATION PARTNERS. CONFERENCES AND MEETINGS ARE DESIGNED IN -HOUSE BY NYBA. THE PROGRAMMING WAS MADE AVAILABLE IN THE CLASSROOM ONLINE VIA AUDIO CONNECTION AND SELF-STUDY. THE LARGER MEETING INCLUDED AN ANNUAL CONVENTION, A CONFERENCE TARGETED TO SPECIFIC INDUSTRY SEGMENTS, SUCH AS RETAIL AND SMALL BUSINESS, TRUST AND INVESTMENT, RISK MANAGEMENT, COMPLIANCE COMMUNITY BANK CEOS, LEADERSHIP DEVELOPMENT, DEI, HUMAN RESOURCES AND LEGISLATIVE ACTIVITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Clare Cusack President & CEO | Officer | 40 | $753,607 |
Karen Armstrong Executive Vice President | Officer | 40 | $301,474 |
Niall O'hegarty General Counsel | Officer | 40 | $275,208 |
Daniel Babb Senior Vice President | Officer | 40 | $235,535 |
Drucilla Mahabir Controller & VP Ms | Officer | 40 | $201,382 |
Marc Tobias Chief Operating Officer | 40 | $182,056 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Shenker Russo Clark Llp State Lobbyist | 4/29/23 | $355,557 |
Withum Smith Brown Accounting | 4/29/23 | $177,532 |
New York It Direct Inc It Equip &Consulting | 4/29/23 | $173,427 |
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 | $4,533,335 |
| Investment income | $485,802 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $7,200 |
| Net Gain/Loss on Asset Sales | $6,595 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,032,932 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,500 |
| 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. | $1,577,560 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $711,668 |
| Pension plan accruals and contributions | $38,089 |
| Other employee benefits | $96,814 |
| Payroll taxes | $66,437 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $70,000 |
| Fees for services: Lobbying | $448,700 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $129,885 |
| Fees for services: Other | $121,294 |
| Advertising and promotion | $48,207 |
| Office expenses | $313,518 |
| Information technology | $4,993 |
| Royalties | $0 |
| Occupancy | $552,820 |
| Travel | $45,075 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $874,450 |
| Interest | $133,938 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $82,548 |
| Insurance | $63,523 |
| All other expenses | $3,254 |
| Total functional expenses | $5,385,273 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $528,364 |
| Savings and temporary cash investments | $459,054 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $429,570 |
| 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 | $134,544 |
| Net Land, buildings, and equipment | $606,291 |
| Investments—publicly traded securities | $25,322,543 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,392,671 |
| Total assets | $32,873,037 |
| Accounts payable and accrued expenses | $669,192 |
| Grants payable | $0 |
| Deferred revenue | $27,237,761 |
| 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 | $2,995,707 |
| Other liabilities | $5,469,791 |
| Total liabilities | $36,372,451 |
| Net assets without donor restrictions | -$26,322,499 |
| Net assets with donor restrictions | $22,823,085 |
| 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 | $32,873,037 |