Illinois Bankers Association
- Assets
- $9.9m
- Revenue
- $5.1m
- Investments
- $0.0
- Employees
- 34
- Location
- Springfield, IL
- Founding
- 07/1985
- Data as of
- 12/2021
- EIN
- 36-3215107
Organization Overview
Illinois Bankers Association is located in Springfield, IL. The organization was established in 1985. 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 12/2021, Illinois Bankers Association employed 34 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Illinois 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 12/2021, Illinois Bankers Association generated $5.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.8% each year. All expenses for the organization totaled $4.5m during the year ending 12/2021. While expenses have increased by 1.1% per year over the past 7 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
MEMBER ORGANIZATION FORMED TO PROMOTE THE BANKING INDUSTRY IN THE STATE OF ILLINOIS THROUGH EDUCATION, PROVIDING PRODUCTS, SERVICES & PUBLICATIONS, AND PROVIDING LEGISLATIVE RELATION SERVICES FOR THE INDUSTRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LEGISLATIVE AND LOBBYING EFFORTS MEANT TO ENHANCE THE STATE AND FEDERAL LAWS TO THE BENEFIT OF THE ILLINOIS FINANCIAL SERVICES INDUSTRY. THE EFFORTS AFFECT EVERY INDUSTRY MEMBER IN THE STATE. IN ADDITION, LEGISLATIVE INFORMATION IS SENT TO THE INDUSTRY THROUGH E-MAILS AND PUBLICATIONS.
PROVIDE THE BANKING INDUSTRY WITH PRODUCTS AND SERVICES THAT HELP IN THEIR BUSINESS DEALINGS. EXAMPLES ARE FRAUD PREVENTION TOOLS BOTH ONLINE AND IN BANK MATERIALS, HOLDING MEMBER NETWORKING EVENTS AND PROVIDING SERVICES SUCH AS ONLINE COMPLIANCE TRAINING.
PROVIDING THE BANKING INDUSTRY WITH VARIOUS PUBLICATIOSN SUCH AS AN ANNUAL DIRECTORY OF THE INDUSTRY MEMBERS, SALARY SURVEYS AND OTHER PUBLICATIONS. A MONTHLY BANKING MAGAZINE IS PRODUCED AS ARE VARIOUS TOOLKITS MEANT TO KEEP THE INDUSTRY COMMUNICATION BETTER.
LEGISLATIVE AND LOBBYING EFFORTS MEANT TO ENHANCE THE STATE AND FEDERAL LAWS TO THE BENEFIT OF THE ILLINOIS FINANCIAL SERVICES INDUSTRY. THE EFFORTS AFFECT EVERY INDUSTRY MEMBER IN THE STATE. IN ADDITION, LEGISLATIVE INFORMATION IS SENT TO THE INDUSTRY THROUGH E-MAILS AND PUBLICATIONS.
PROVIDE THE BANKING INDUSTRY WITH PRODUCTS AND SERVICES THAT HELP IN THEIR BUSINESS DEALINGS. EXAMPLES ARE FRAUD PREVENTION TOOLS BOTH ONLINE AND IN BANK MATERIALS, HOLDING MEMBER NETWORKING EVENTS AND PROVIDING SERVICES SUCH AS ONLINE COMPLIANCE TRAINING.
PROVIDING THE BANKING INDUSTRY WITH VARIOUS PUBLICATIOSN SUCH AS AN ANNUAL DIRECTORY OF THE INDUSTRY MEMBERS, SALARY SURVEYS AND OTHER PUBLICATIONS. A MONTHLY BANKING MAGAZINE IS PRODUCED AS ARE VARIOUS TOOLKITS MEANT TO KEEP THE INDUSTRY COMMUNICATION BETTER.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Randall Hultgren Secretary & CEO | Officer | 0 | $0 |
Carolyn Settanni Associate Counsel | 40 | $0 | |
Ben Jackson Vice President | 40 | $0 | |
Erich Bloxdorf COO | Officer | 40 | $0 |
Carly Berard | 40 | $149,740 | |
Mark Bennett VP Finance | 40 | $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 | $3,602,752 |
| Investment income | $54,870 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $15,218 |
| 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 | $5,094,620 |
| 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. | $857,925 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,942,465 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $388,345 |
| Payroll taxes | $190,411 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $8,828 |
| Fees for services: Accounting | $19,396 |
| Fees for services: Lobbying | $3,560 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $203,125 |
| Advertising and promotion | $18,942 |
| Office expenses | $47,112 |
| Information technology | $174,566 |
| Royalties | $0 |
| Occupancy | $251,114 |
| Travel | $11,626 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $102,751 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $109,216 |
| Insurance | $28,163 |
| All other expenses | $45,076 |
| Total functional expenses | $4,517,744 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,204,568 |
| Savings and temporary cash investments | $1,119,502 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,280,454 |
| 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 | $54,022 |
| Net Land, buildings, and equipment | $199,742 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $12,130 |
| Total assets | $9,870,418 |
| Accounts payable and accrued expenses | $475,352 |
| 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 | $6,588,199 |
| Total liabilities | $7,063,551 |
| Net assets without donor restrictions | $2,306,669 |
| Net assets with donor restrictions | $500,198 |
| 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 | $9,870,418 |
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