New Jersey Bankers Association
- Assets
- $4.9m
- Revenue
- $2.9m
- Investments
- $482.2k
- Employees
- 12
- Location
- Cranford, NJ
- Founding
- 06/1942
- Data as of
- 06/2021
- EIN
- 22-1152260
Organization Overview
New Jersey Bankers Association is located in Cranford, NJ. The organization was established in 1942. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2021, New Jersey Bankers Association employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Jersey 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 06/2021, New Jersey Bankers Association generated $2.9m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.8% each year. All expenses for the organization totaled $3.1m during the year ending 06/2021. While expenses have increased by 3.2% per year over the past 6 years. They've been increasing with an increasing level of total revenue. 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
THE NJ BANKERS ASSOCIATION'S PRIMARY MISSION IS TO REPRESENT ITS MEMBERSHIPS' INTERESTS BEFORE STATE AND FEDERAL GOVERNMENT AND REGULATORY AUTHORITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ANNUAL CONVENTION: EDUCATION FOR SENIOR MANAGEMENT IN THE BANKING INDUSTRY AND ANNUAL MEETING TO PROVIDE INFORMATION AND COORDINATE ACTIVITIES AFFECTING MEMBER ASSOCIATIONS.
SENIOR MANAGEMENT CONFERENCE: EDUCATION FOR SENIOR MANAGEMENT IN THE BANKING INDUSTRY.
DIRECTORS & OFFICERS CONFERENCE: EDUCATION FOR SENIOR MANAGEMENT IN THE BANKING INDUSTRY.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cadwalader Wickersham & Taft Legal Services | 6/29/21 | $225,000 |
Williams & Connolly Llp Legal Services | 6/29/21 | $135,426 |
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 | $2,435,736 |
| Investment income | $47,661 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $112,668 |
| Net Rental Income | $39,400 |
| 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 | $2,871,492 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,850 |
| 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. | $1,235,451 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $432,903 |
| Pension plan accruals and contributions | $76,286 |
| Other employee benefits | $65,945 |
| Payroll taxes | $92,921 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $317,096 |
| Fees for services: Accounting | $27,600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $111,227 |
| Information technology | $100,201 |
| Royalties | $0 |
| Occupancy | $142,656 |
| Travel | $19,120 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $256,561 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $41,784 |
| Insurance | $63,683 |
| All other expenses | $21,376 |
| Total functional expenses | $3,066,469 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $680,426 |
| Savings and temporary cash investments | $3,098,720 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $449,887 |
| 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 | $58,231 |
| Net Land, buildings, and equipment | $114,647 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $482,222 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $10,528 |
| Total assets | $4,894,661 |
| Accounts payable and accrued expenses | $123,077 |
| Grants payable | $0 |
| Deferred revenue | $314,954 |
| 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 | $438,031 |
| Net assets without donor restrictions | $4,456,630 |
| 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 | $4,894,661 |
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