North Carolina Bankers Association
- Assets
- $20.5m
- Revenue
- $4.1m
- Investments
- $7.3m
- Employees
- 13
- Location
- Raleigh, NC
- Founding
- 10/1943
- Data as of
- 12/2021
- EIN
- 56-0340440
Organization Overview
North Carolina Bankers Association is located in Raleigh, NC. The organization was established in 1943. According to its NTEE Classification (W03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2021, North Carolina Bankers Association employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. North Carolina 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, North Carolina Bankers Association generated $4.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.9% each year. All expenses for the organization totaled $2.8m during the year ending 12/2021. While expenses have increased by 1.6% 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
TO OFFER EDUCATION AND SERVICES TO THE FINANCIAL INSTITUTIONS OF NORTH CAROLINA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE NORTH CAROLINA BANKERS ASSOCIATION PARTICIPATED IN GOVERNMENT RELATIONS TO PROMOTE AND PROTECT THE COMMON INTERESTS OF ITS MEMBER BANKS IN NORTH CAROLINA.
THE ASSOCIATION WAS ACTIVE IN EXPANDING THE FINANCIAL LITERACY OF ALL NORTH CAROLINA CITIZENS, ESPECIALLY SCHOOL AGED CHILDREN. THESE ACTIVITIES CONSISTED OF SPONSORING CAMPERS AT CAMP CHALLENGE, A CAMP FOCUSING ON FINANCIAL LITERACY FOR MIDDLE SCHOOL CHILDREN WHO ARE HIGH ACHIEVING AND LOW RESOURCE.
THE NORTH CAROLINA BANKERS ASSOCIATION ALSO HELD OVER 80 DAYS OF MEETINGS THROUGHOUT THE YEAR TO HELP EDUCATE THE BANKING INDUSTRY EMPLOYEES ON CURRENT PROCEDURES AND REGULATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Peter Gwaltney President And CEO | OfficerTrustee | 40 | $595,509 |
Nathan Batts Counsel/svp | Officer | 40 | $186,155 |
Grace Sampson Corporate Secretary/svp | Officer | 40 | $178,539 |
Diane Baldwin Cfo/vp | Officer | 40 | $151,890 |
Blair Jernigan Event Mgmt/vp | Officer | 40 | $146,061 |
Jim Sills Chair | 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 | $1,929,885 |
| Investment income | $260,729 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $72,346 |
| Net Gain/Loss on Asset Sales | $236,447 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,106,914 |
| 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. | $1,161,316 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $307,123 |
| Pension plan accruals and contributions | $27,527 |
| Other employee benefits | $125,008 |
| Payroll taxes | $36,947 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,976 |
| Fees for services: Accounting | $16,928 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $14,961 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $47,659 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $77,259 |
| Travel | $16,759 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $738,377 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $144,879 |
| Insurance | $13,998 |
| All other expenses | $62,154 |
| Total functional expenses | $2,826,474 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $346,254 |
| Savings and temporary cash investments | $2,287,451 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,287 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $3,944,827 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $47,292 |
| Net Land, buildings, and equipment | $1,162,138 |
| Investments—publicly traded securities | $4,124,757 |
| Investments—other securities | $7,324,145 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,247,250 |
| Total assets | $20,486,401 |
| Accounts payable and accrued expenses | $154,622 |
| Grants payable | $0 |
| Deferred revenue | $267,234 |
| 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 | $886 |
| Total liabilities | $422,742 |
| Net assets without donor restrictions | $20,063,659 |
| 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 | $20,486,401 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that North Carolina Bankers Association has recieved totaling $2,500.
| Awarding Organization | Amount |
|---|---|
Union Home Foundation Strongsville, OH PURPOSE: TO SUPPORT CAMP CHALLENGE, A WEEK LONG SUMMER CAMP EXPERIENCE FOR HIGH ACHIEVING, LOW RESOURCE MIDDLE SCHOOL STUDENTS. | $2,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
National Association Of Federal Credit Unions Inc Arlington, VA | $31,185,033 | $18,837,903 |
National Telecommunications Cooperative Association Arlington, VA | $35,978,919 | $14,734,223 |
Nreca International Ltd Arlington, VA | $16,103,141 | $13,958,230 |
Georgia Electric Membership Corporation Tucker, GA | $11,625,229 | $14,888,867 |
Tennessee Electric Co-Op Assn Nashville, TN | $3,724,180 | $7,501,409 |
Telecommunications Industry Association Arlington, VA | $9,432,322 | $8,404,450 |
Tennessee Valley Public Power Assocation Inc Chattanooga, TN | $38,455,755 | $10,938,894 |
National Motor Freight Traffic Association Inc Alexandria, VA | $59,067,846 | $11,675,986 |
Utilities Telecom Council Arlington, VA | $3,126,193 | $5,234,143 |
The National Association Of State Energy Officials Arlington, VA | $3,856,099 | $4,618,696 |
Cyber Threat Alliance Inc Arlington, VA | $1,695,498 | $3,121,516 |
North Carolina Bankers Association Raleigh, NC | $20,486,401 | $4,106,914 |