Michigan Bankers Association
- Assets
- $6.0m
- Revenue
- $3.2m
- Investments
- $0.0
- Employees
- 14
- Location
- Lansing, MI
- Founding
- 02/1944
- Data as of
- 06/2022
- EIN
- 38-0823040
Organization Overview
Michigan Bankers Association is located in Lansing, MI. The organization was established in 1944. According to its NTEE Classification (W01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Public & Societal Benefit and related organizations. As of 06/2022, Michigan Bankers Association employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Michigan 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 06/2022, Michigan Bankers Association generated $3.2m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.5%) each year. All expenses for the organization totaled $3.2m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (2.3%) per year over the past 7 years. 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
ADVOCATING FOR AND SUPPORTING BANKING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROMOTE A POSITIVE BUSINESS ENVIRONMENT FOR BANKING.
TO DEFINE AND PROMOTE A MODERN, POSITIVE IMAGE OF BANKING.
TO HELP MEMBER BANKS SUCCEED IN A CHANGING BUSINESS ENVIRONMENT.
TO EDUCATE BANKERS FOR THE 21ST CENTURY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
T Rann Paynter President & CEO | OfficerTrustee | 36 | $422,511 |
Patricia Herndon Chief Policy Officer | 45 | $176,409 | |
Matthew D Szubinski Cfo/coo | 45 | $151,174 | |
Stephanie Fisher SVP Education | 45 | $105,079 | |
J Grant Smith Immediate Past Chair | OfficerTrustee | 1 | $0 |
Jerome Schwind Chair-Elect | OfficerTrustee | 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 | $3,150,433 |
| Investment income | $18,118 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $65,000 |
| Net Rental Income | $14,181 |
| Net Gain/Loss on Asset Sales | -$290 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,247,442 |
| 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. | $404,105 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,041,089 |
| Pension plan accruals and contributions | $113,548 |
| Other employee benefits | $147,355 |
| Payroll taxes | $83,978 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $35,329 |
| Fees for services: Accounting | $16,108 |
| Fees for services: Lobbying | $33,805 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $143,505 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $144,326 |
| Travel | $66,924 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $791,721 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $69,673 |
| Insurance | $29,899 |
| All other expenses | $2,883 |
| Total functional expenses | $3,212,127 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,346,289 |
| Savings and temporary cash investments | $2,091,903 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $111,560 |
| 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 | $74,546 |
| Net Land, buildings, and equipment | $1,255,526 |
| Investments—publicly traded securities | $980,924 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $157,351 |
| Total assets | $6,018,099 |
| Accounts payable and accrued expenses | $479,302 |
| Grants payable | $0 |
| Deferred revenue | $1,417,663 |
| 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 | $1,896,965 |
| Net assets without donor restrictions | $0 |
| 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 | $4,121,134 |
| Total liabilities and net assets/fund balances | $6,018,099 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Mackinac Center Midland, MI | $16,839,253 | $15,562,407 |
Michigan Bankers Association Lansing, MI | $6,018,099 | $3,247,442 |
Progress Michigan Lansing, MI | $1,024,353 | $1,598,975 |
635 Members Choice Credit Union Inc Greenville, OH | $29,882,482 | $893,333 |
Citizens Action Coalition Education Fund Inc Indianapolis, IN | $628,553 | $832,760 |
Mission Columbus Institute For Community Initiatives Columbus, OH | $0 | $238,001 |
Bulding Michigans Future Ann Arbor, MI | $4,208 | $0 |
Starting Point Outreach Center Willard, OH | $34,120 | $0 |
Bridging The Gaps Community & Family Development Centers Southgate, MI | $18,500 | $0 |
Naturist Action Committee Inc Oshkosh, WI | $85,313 | $0 |
Milwaukee Works Inc Milwaukee, WI | $53,372 | $0 |
Lift Up Michigan East Lansing, MI | $102,100 | $0 |