Virginia Association Of Community Banks
- Assets
- $597.6k
- Revenue
- $727.1k
- Investments
- $0.0
- Employees
- 3
- Location
- Richmond, VA
- Founding
- 04/1979
- Data as of
- 12/2023
- EIN
- 54-1094907
Organization Overview
Virginia Association Of Community Banks is located in Richmond, VA. The organization was established in 1979. According to its NTEE Classification (S21) the organization is classified as: Community Coalitions, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Virginia Association Of Community Banks employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Virginia Association Of Community Banks 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 12/2023, Virginia Association Of Community Banks generated $727.1k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 0.1% each year. All expenses for the organization totaled $777.6k during the year ending 12/2023. While expenses have increased by 0.9% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE UNDILUTED ADVOCACY, TARGETED EDUCATION AND QUALITY COLLABORATION FOR VIRGINIA'S COMMUNITY BANKS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
A. ADVOCACY- 52 BANKS AND 43 AFFILIATED COMPANIES WERE MEMBERS IN 2023. THE PROGRAMS PROMOTE INDEPENDENT COMMUNITY BANKING, HELP MEMBERS COMPETE AND OBTAIN OPERATING EFFICIENCY.
B. EDUCATION AND SEMINARS - PROVIDED 8 SEMINARS, 32 VIRTUAL SEMINARS, AND 179 WEBINARS ON AREAS OF BANKING COMPLIANCE, REGULATION AND BANKING OPERATIONS - ATTENDANCE INCLUDED 1,188 TOTAL REPRESENTATIVES OF MEMBER BANKS.
C. ANNUAL MEETING - PROVIDED FOR MEMBERS AND OTHERS ASSOCIATED WITH COMMUNITY BANKS TO LEARN ABOUT NEW PRODUCTS AND IDEAS THROUGH ACTIVITIES - ATTENDANCE 199.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steven C Yeakel President & CEO | OfficerTrustee | 40 | $179,564 |
Jeff W Dick Icba Delegate | OfficerTrustee | 1 | $0 |
Jay A Stafford Immediate Past Chair | OfficerTrustee | 1 | $0 |
Leanne R Emert Director | Trustee | 1 | $0 |
Dabney Tp Gilliam Jr Director | Trustee | 1 | $0 |
James E Hendricks 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 | $22,927 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $22,927 |
| Total Program Service Revenue | $559,559 |
| Investment income | $9,891 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $126,049 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $8,152 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $727,075 |
| 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. | $179,564 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $153,034 |
| Pension plan accruals and contributions | $7,500 |
| Other employee benefits | $22,579 |
| Payroll taxes | $24,763 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $8,582 |
| Fees for services: Accounting | $16,750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $29,126 |
| Advertising and promotion | $0 |
| Office expenses | $20,925 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $53,017 |
| Travel | $11,016 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,267 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,078 |
| Insurance | $4,574 |
| All other expenses | $3,631 |
| Total functional expenses | $777,561 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $458,386 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,140 |
| 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 | $11,738 |
| Net Land, buildings, and equipment | $13,966 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $110,400 |
| Total assets | $597,629 |
| Accounts payable and accrued expenses | $6,502 |
| Grants payable | $0 |
| Deferred revenue | $53,934 |
| 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 | $111,074 |
| Total liabilities | $171,510 |
| Net assets without donor restrictions | $426,119 |
| 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 | $597,629 |