Eastpay Inc
- Assets
- $0.0
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 15
- Location
- Richmond, VA
- Founding
- Data as of
- 07/2016
- EIN
- 54-0991483
Organization Overview
Eastpay Inc is located in Richmond, VA. As of 07/2016, Eastpay Inc employed 15 individuals. Eastpay 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 07/2016, Eastpay Inc generated $1.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (21.1%) each year. All expenses for the organization totaled $2.0m during the year ending 07/2016. As we would expect to see with falling revenues, expenses have declined by (15.1%) per year over the past 2 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
2016
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE PAYMENTS EXPERTISE TO OUR MEMBERS THROUGH EDUCATION, PUBLICATIONS, COMPLIANCE, SUPPORT, RISK CONTROL, AND INDUSTRY ADVOCACY THAT SUPPORTS THE GROWTH AND QUALITY OF PAYMENTS WHILE MINIMIZING RISK.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE THE FINANCIAL AND BUSINESS COMMUNITIES PRIMARILY IN VIRGINIA, WEST VIRGINIA, NORTH CAROLINA, AND FLORIDA WITH ELECTRONIC PAYMENTS EDUCATION, PUBLICATIONS, AND COMPLIANCE SUPPORT. WE CONDUCT IN-PERSON SEMINARS, EASTPAY-SPONSORED TELESEMINARS AND WEBINARS, AND TELESEMINARS AND WEBINARS SPONSORED BY OTHER REGIONAL PAYMENTS ASSOCIATIONS. IN ADDITION TO THESE EVENTS, EASTPAY ALSO CONDUCTS AN ANNUAL TWO AND A HALF DAY CONFERENCE. EASTPAY SELLS PUBLICATIONS FOCUSING ON PAYMENTS, SOME OF WHICH ARE DEVELOPED BY THE ASSOCIATION DIRECTLY WHILE OTHERS ARE DEVELOPED BY OTHER ASSOCIATIONS, INCLUDING THE NATIONAL ASSOCIATION. IN KEEPING WITH OUR MEMBERSHIP SERVICES CHARTER, THE EASTPAY STAFF RECEIVES MEMBER CALLS RELATING TO PAYMENTS QUESTIONS BY OUR MEMBERS. IN ORDER TO KEEP THE MEMBERS UP TO DATE ON A VARIETY OF PAYMENT ISSUES, THE MEMBERSHIP ALSO RECEIVES A NUMBER OF COMMUNICATIONS FROM EASTPAY, INCLUDING ISSUES OF OUR ELECTRONIC NETWORK NEWS NEWSLETTER, EDITIONS OF OUR WASHINGTON WATCH REPORT AND 58 EBULLETINS AND TWITTER MESSAGES. ADDITIONALLY, EASTPAY PROVIDES DIRECT SUPPORT TO MEMBERS ON SPECIFIC MEMBER-REQUESTED EDUCATIONAL ENGAGEMENTS WHICH ARE OFFERED TO MEMBERS ON A TIME AND MATERIALS BASIS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tim Thorson Chairperson | OfficerTrustee | $0 | |
Norman K Robinson Retired President & | 40 | $249,990 | |
Laura Steele President An | Officer | $0 | |
Alicia Treadway Vice Chairpe | OfficerTrustee | $0 | |
Art Hilgert Treasurer | OfficerTrustee | $0 | |
Wanda Chambers Secretary | OfficerTrustee | $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 | $1,616,856 |
| Investment income | $8,453 |
| 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 | $1,625,309 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $268,967 |
| Other salaries and wages | $607,361 |
| Pension plan accruals and contributions | $10,643 |
| Other employee benefits | $96,104 |
| Payroll taxes | $58,316 |
| Fees for services: Management | $3,840 |
| Fees for services: Legal | $8,198 |
| Fees for services: Accounting | $16,459 |
| 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 | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $62,140 |
| Travel | $66,543 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $148,215 |
| Interest | $0 |
| Payments to affiliates | $64,851 |
| Depreciation, depletion, and amortization | $13,511 |
| Insurance | $9,918 |
| All other expenses | $119,146 |
| Total functional expenses | $1,973,332 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Unrestricted restricted net Assets | $0 |
| Temporarily restricted net Assets | $0 |
| Permanently restricted net Assets or current funds | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | $0 |