Indiana Mortgage Bankers Inc
- Assets
- $139.5k
- Revenue
- $269.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Lawrenceburg, IN
- Founding
- 11/1979
- Data as of
- 05/2022
- EIN
- 23-7345226
Organization Overview
Indiana Mortgage Bankers Inc is located in Lawrenceburg, IN. The organization was established in 1979. According to its NTEE Classification (W60) the organization is classified as: Financial Institutions, under the broad grouping of Public & Societal Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Indiana Mortgage Bankers 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 05/2022, Indiana Mortgage Bankers Inc generated $269.8k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.6% each year. All expenses for the organization totaled $232.1k during the year ending 05/2022. 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
EDUCATION OF MEMBERS:THE ASSOCIATION SERVES APPROXIMATELY 120 MEMBERS, BELONGING TO VARIOUS CHAPTERS ACROSS THE STATE OF INDIANA, WHO BENEFIT FROM THE PROGRAMS PRESENTED BY THE ASSOCIATION. THE ASSOCIATION HOLDS TWO MAIN EVENTS EACH YEAR, A CONVENTION AND A PRODUCTION AND SERVICING CONFERENCE. ALONG WITH SMALLER MONTHLY AND SPECIAL MEETINGS, THESE EVENTS ARE DESIGNED TO EDUCATE AND UPDATE THE MEMBERS AND THE MORTGAGE COMMUNITY, ON VARIOUS TOPICS RELEVANT TO THE RESIDENTIAL MORTGAGE BANKING INDUSTRY. THE ASSOCIATION PROVIDES SERVICES, SUPPORT, AND INFORMATION TO MEMBERS AND PROMOTES SOUND AND ETHICAL BUSINESS PRACTICES CONSISTENT WITH INDUSTRY STANDARDS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
APPROXIMATELY 120 MEMBER COMPANIES BENEFIT FROM THE PROGRAMS PRESENTED BY THE ORGANIZATION FOR THEIR EDUCATION AND MUTUAL GOALS. THE ASSOCIATION NORMALLY HOLDS THREE STATE-WIDE EVENTS EACH YEAR, A CONVENTION, A COMPLIANCE SEMINAR, AND A PRODUCTION MEETING. THE CHAPTERS HOLD SMALLER, SPECIAL MEEINGS DESIGNED TO EDUCATE AND UPDATE THE MEMBERS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alan Thorup Executive Dir. | Trustee | 40 | $71,528 |
Bryan Traylor Past President | Officer | 1 | $0 |
Lynne Tamanini President | Officer | 1 | $0 |
Kristine Clark Director | Trustee | 1 | $0 |
Palak Effinger Director | Trustee | 1 | $0 |
Danielle Conner Director | Trustee | 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 | $269,333 |
| Investment income | $7 |
| 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 | $269,818 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,023 |
| 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. | $71,528 |
| Compensation of current officers, directors, key employees. | $71,528 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $6,007 |
| Fees for services: Accounting | $2,220 |
| Fees for services: Lobbying | $10,108 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $2,811 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $513 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $125,215 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,128 |
| All other expenses | $2,034 |
| Total functional expenses | $232,120 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $103,182 |
| Savings and temporary cash investments | $36,324 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $139,506 |
| Accounts payable and accrued expenses | $2,363 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $2,363 |
| Net assets without donor restrictions | $137,143 |
| 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 | $139,506 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Filene Research Institute Inc Madison, WI | $14,627,615 | $8,184,489 |
American Association Of Individual Investors Chicago, IL | $3,907,493 | $7,934,060 |
Midwestern University Foundation Downers Grove, IL | $61,061,640 | $1,129,249 |
Henry Strong Educational Foundation Po Box Chicago, IL | $14,214,951 | $483,093 |
Indiana Mortgage Bankers Inc Lawrenceburg, IN | $139,506 | $269,818 |
Illinois Ventures For Community Action Springfield, IL | $7,084,723 | $38,041 |
Northwest Wisconsin Business Development Corporation Spooner, WI | $4,387,654 | $89,093 |
Kentucky Financial Services Association Inc Frankfort, KY | $45,097 | $0 |
Beyond Housing Nhs Community Lending Corporation St Louis, MO | $1,585,039 | $74,753 |
Contractor Loan Fund Inc Saint Louis, MO | $0 | $5,146 |
Litchfield Memorial Student Loan Fund Inc Evansville, IN | $692,521 | $48,558 |
Elizabeth Malick Edwards Educational Fund In Tr Creve Coeur, MO | $953,244 | $46,946 |