New York Bankers Association Inc
- Assets
- $29.7m
- Revenue
- $5.8m
- Investments
- $0.0
- Employees
- 15
- Location
- New York, NY
- Founding
- 06/1987
- Data as of
- 04/2022
- 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 04/2022, New York Bankers Association Inc employed 15 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 04/2022, New York Bankers Association Inc generated $5.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.7% each year. All expenses for the organization totaled $4.7m during the year ending 04/2022. 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
2022
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 100 PROFESSIONAL DEVELOPMENT PROGRAMS CONFERENCES AND MEETINGS THROUGHOUT THE YEAR. TRAINING PROGRAMS ARE DESIGNED FOR VARIOUS SEGMENTS OF THE BANKING COMMUNITY AND INCLUDE COURSES ON SUCH TOPICS RANGING FROM REGULATORY COMPLIANCE TO SOCIAL MEDIA MANAGEMENT. THE PROGRAMMING WAS MADE AVAILABLE IN THE CLASSROOM, ONLINE, VIA AUDIO CONNECTION AND SELF-STUDY. THE LARGER MEETINGS INCLUDED AN ANNUAL CONVENTION AND CONFERENCES TARGETED TO SPECIFIC INDUSTRY SEGMENTS, INCLUDING RETAIL AND SMALL BUSINESS, TRUST AND INVESTMENT, CEOS AND LEGISLATIVE ACTIVITY
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Clare Cusack President & CEO | Officer | 40 | $524,808 |
Michael P Smith Former President & CEO | 0 | $400,000 | |
Karen L Armstrong Senior Vice President | Officer | 40 | $269,505 |
Daniel L Babb Senior Vice President | Officer | 40 | $227,988 |
Drucilla Mahabir Accounting And Mis Director | Officer | 40 | $184,332 |
Megan Mcgovern Assistant General Counsel | 40 | $147,183 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Shenker Russo Clark Llp Lobbyist | 4/29/22 | $350,924 |
Withumsmithbrown Pc Accounting | 4/29/22 | $144,962 |
Sullivan Cromwell Tax & Hr Consultant | 4/29/22 | $125,000 |
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 | $4,435,367 |
| Investment income | $469,529 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $7,200 |
| Net Gain/Loss on Asset Sales | $885,078 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,797,174 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,000 |
| 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. | $1,119,126 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $827,150 |
| Pension plan accruals and contributions | $33,147 |
| Other employee benefits | $62,405 |
| Payroll taxes | $52,433 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $70,000 |
| Fees for services: Lobbying | $482,635 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $151,992 |
| Fees for services: Other | $278,681 |
| Advertising and promotion | $8,980 |
| Office expenses | $136,507 |
| Information technology | $11,220 |
| Royalties | $0 |
| Occupancy | $502,709 |
| Travel | $48,249 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $608,338 |
| Interest | $150,470 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $91,225 |
| Insurance | $54,680 |
| All other expenses | $364 |
| Total functional expenses | $4,692,311 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,454,112 |
| Savings and temporary cash investments | $144,659 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $373,997 |
| 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 | $233,451 |
| Net Land, buildings, and equipment | $162,882 |
| Investments—publicly traded securities | $27,130,370 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $174,639 |
| Total assets | $29,674,110 |
| Accounts payable and accrued expenses | $581,720 |
| Grants payable | $0 |
| Deferred revenue | $28,490,802 |
| 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 | $3,401,453 |
| Other liabilities | $214,415 |
| Total liabilities | $32,688,390 |
| Net assets without donor restrictions | -$25,837,365 |
| 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 | $29,674,110 |
Endowment Analysis
| Beg. Balance | $53,972,448 |
| Ending Balance | $53,972,448 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
B Lab Company Berwyn, PA | $11,530,827 | $18,993,326 |
Society Of Cable Telecommunications Engineers Inc Exton, PA | $14,059,235 | $12,351,666 |
Pennsylvania Bankers Association Harrisburg, PA | $5,090,487 | $5,734,321 |
New York Bankers Association Inc New York, NY | $29,674,110 | $5,797,174 |
Pennsylvania Credit Union Association Harrisburg, PA | $17,137,050 | $4,756,465 |
New York Credit Union Association Inc Albany, NY | $26,477,770 | $2,081,668 |
Clearing House Association Llc New York, NY | $10,776,823 | $75,297 |
New England Water Works Association Inc Holliston, MA | $5,317,027 | $2,104,407 |
Cable Telecommunications Association Of New York Inc Albany, NY | $865,674 | $1,225,088 |
Pennsylvania Association Of Community Bankers Harrisburg, PA | $1,289,159 | $1,515,208 |
Northeast Waste Management Officials Association Inc Boston, MA | $482,631 | $1,175,561 |
Vermont Rural Water Association Essex Junction, VT | $644,276 | $1,194,241 |