Florida International Bankers Association Inc Fiba
- Assets
- $2.2m
- Revenue
- $3.4m
- Investments
- $0.0
- Employees
- 9
- Location
- Miami, FL
- Founding
- 04/1981
- Data as of
- 06/2021
- EIN
- 59-1921450
Organization Overview
Florida International Bankers Association Inc Fiba is located in Miami, FL. The organization was established in 1981. 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 06/2021, Florida International Bankers Association Inc Fiba employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Florida International Bankers Association Inc Fiba 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 06/2021, Florida International Bankers Association Inc Fiba generated $3.4m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (10.4%) each year. All expenses for the organization totaled $2.5m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (14.3%) per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
NON-PROFIT TRADE ASSOCIATION FOUNDED PRIMARILY TO SERVICE THE NEES OF BANKS AND FINANCIAL INSTITUTIONS ENGAGED IN INTERNATIONAL BUSINESS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DURING THIS YEAR FIBA HELD CONFERENCES FOR CLAB, AND FELABAN ASAMBLEA. IN ADDITION WE DID MEMBERSHIP OFAC SANCTIONS DISCUSSION ALONG WITH A NUMBER OF WEBINARS IN SEVERAL SUBJECTS. WE ALSO HELD A NUMBER OF COURSES, MAINLY FOR CPAML, AML AND CYBERSECURITY.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Schwartz President & CEO | Officer | 40 | $224,501 |
Juan A Sanz DE Acedo Controller | 1 | $110,400 | |
Michele Fernandez-Daniel Chairperson | OfficerTrustee | 1 | $0 |
Jordi Torras Chair-Elect | OfficerTrustee | 1 | $0 |
Andres Fernandez Vice Chair | OfficerTrustee | 1 | $0 |
Wayne Shah Vice Chair | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Intercontinental Miami Hotel And Events | 6/29/19 | $688,333 |
The Diplomat Beach Resort Hotel And Events | 6/29/19 | $200,000 |
Bsc Realty Services Llc Rental | 6/29/19 | $143,773 |
Affinipay Merchant Account | 6/29/19 | $104,871 |
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 | $3,357,810 |
| Investment income | $0 |
| 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 | $3,357,810 |
| 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. | $229,500 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $479,335 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $135,249 |
| Payroll taxes | $53,821 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,076 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $25,830 |
| Office expenses | $0 |
| Information technology | $73,511 |
| Royalties | $0 |
| Occupancy | $272,863 |
| Travel | $2,960 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $62,662 |
| Insurance | $3,808 |
| All other expenses | $85,477 |
| Total functional expenses | $2,458,935 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,624,955 |
| Savings and temporary cash investments | $100,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $50,714 |
| 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 | $285,931 |
| Net Land, buildings, and equipment | $48,759 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $84,544 |
| Total assets | $2,194,903 |
| Accounts payable and accrued expenses | $266,440 |
| 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 | $288,477 |
| Other liabilities | $436,117 |
| Total liabilities | $991,034 |
| Net assets without donor restrictions | $1,203,869 |
| 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 | $2,194,903 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Florida International Bankers Association Inc Fiba has recieved totaling $21,060.
| Awarding Organization | Amount |
|---|---|
The Miami Foundation Inc Miami, FL PURPOSE: FIBA FELIX H. REYLER MEMORIAL SCHOLARSHIP FUND | $21,060 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
State Chartered Credit Unions In Florida West Palm Beach, FL | $152,179,877 | $3,866,461 |
Florida International Bankers Association Inc Fiba Miami, FL | $2,194,903 | $3,357,810 |
Protect Our Power Inc Orlando, FL | $44,843 | $1,166,585 |
Foundation For Americas Families Inc West Palm Beach, FL | $432,901 | $1,124,400 |
Coupon Information Corp Naples, FL | $1,362,850 | $708,255 |
Circle Of Brotherhood Miami, FL | $645,949 | $1,115,573 |
Textbook & Academic Authors Association Inc St Petersburg, FL | $1,855,184 | $847,167 |
Florida Alliance For Civic Engagement Inc Homestead, FL | $89,205 | $624,550 |
Second Chance Initiative Inc Boca Raton, FL | $193,054 | $383,123 |
Drum Major Institute Inc Atlanta, GA | $143,782 | $325,500 |
Veterans Resource Group Inc Forest Park, GA | $26,769 | $266,566 |
Florida Consumer Action Network Inc St Petersburg, FL | $87,478 | $0 |