Texas Mortgage Bankers Association
- Assets
- $3.4m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 5
- Location
- Austin, TX
- Founding
- 11/1945
- Data as of
- 12/2021
- EIN
- 75-0684612
Organization Overview
Texas Mortgage Bankers Association is located in Austin, TX. The organization was established in 1945. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Texas Mortgage Bankers Association employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Texas Mortgage 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, Texas Mortgage Bankers Association generated $1.6m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.7%) each year. All expenses for the organization totaled $1.4m during the year ending 12/2021. 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 SERVE THE MUTUAL INTERESTS OF ITS MEMBERS IN ORDER TO PRESERVE, ENHANCE AND ADVANCE THE MORTGAGE BANKING AND REAL ESTATE FINANCE BUSINESS IN THE STATE OF TEXAS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ANNUAL CONVENTION PROVIDES MEMBERS AND OTHER ATTENDEES WITH A FORUM FOR SHARING INFORMATION AND IDEAS WITH THEIR PEERS THROUGHOUT THE STATE AND NATIONWIDE. THERE WERE APPROXIMATELY 700 ATTENDEES.
SEMINARS ARE HELD THROUGHOUT THE YEAR TO EDUCATE PARTICIPANTS REGARDING TRENDS AND ISSUES RELEVANT TO THE REAL ESTATE FINANCE INDUSTRY AND KEEPS PERSONNEL AND COMPANIES UP TO DATE ON THE BEST STANDARDS OF PRACTICE FOR BEING IN COMPLIANCE AND FINANCIALLY VIABLE IN A COMPETITIVE MARKETPLACE. THE SEMINARS WERE ATTENDED BY OVER 1,000 PARTICIPANTS DURING THE YEAR.
LEGISLATIVE AND REGULATORY EFFORTS INCLUDE MONITORING THE TEXAS MORTGAGE BANKING INDUSTRY AND POST UPDATES REGARDING KEY DEVELOPMENTS ON THE WEBSITE; ENCOURAGING A BETTER UNDERSTANDING OF STATE AND FEDERAL REGULATIONS AFFECTING TEXAS MORTGAGE LENDING PRACTICES AND COMPLIANCE AMONG ALL MEMBERS OF THE ASSOCIATION.
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 |
|---|---|---|---|
Lisa Vercher Executive Vice President | Officer | 40 | $167,250 |
Dayna Mcelreath President | OfficerTrustee | 1 | $0 |
James Clapp Past President | OfficerTrustee | 1 | $0 |
Troy Garris Associate Rep | OfficerTrustee | 1 | $0 |
Steve Remington Vice President | OfficerTrustee | 1 | $0 |
Matthew Kiker Secretary/treasurer | 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 | $11,950 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,950 |
| Total Program Service Revenue | $1,480,372 |
| Investment income | $44,043 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $84,139 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,620,504 |
| 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. | $186,384 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $173,025 |
| Pension plan accruals and contributions | $6,383 |
| Other employee benefits | $33,699 |
| Payroll taxes | $24,886 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $225,000 |
| Fees for services: Accounting | $17,139 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $18,477 |
| Fees for services: Other | $8,909 |
| Advertising and promotion | $0 |
| Office expenses | $109,823 |
| Information technology | $4,002 |
| Royalties | $0 |
| Occupancy | $61,475 |
| Travel | $366 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $558,432 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,400 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,430,400 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $191,454 |
| Savings and temporary cash investments | $22,216 |
| Pledges and grants receivable | $165 |
| 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 | $133,077 |
| Net Land, buildings, and equipment | $1,597 |
| Investments—publicly traded securities | $3,077,753 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,279 |
| Total assets | $3,430,541 |
| Accounts payable and accrued expenses | $57,689 |
| Grants payable | $0 |
| Deferred revenue | $279,250 |
| 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 | $336,939 |
| Net assets without donor restrictions | $3,002,354 |
| Net assets with donor restrictions | $91,248 |
| 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 | $3,430,541 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Wi-Fi Alliance Austin, TX | $27,634,772 | $19,782,142 |
Greater Houston Partnership Inc Houston, TX | $22,962,720 | $19,728,312 |
Bbb Serving The Heart Of Texas Austin, TX | $13,203,011 | $18,551,696 |
Visit San Antonio San Antonio, TX | $11,429,570 | $19,048,365 |
Clean Gulf Associates Inc New Orleans, LA | $10,070,698 | $12,457,251 |
Meeting Professionals International Dallas, TX | $6,166,822 | $11,031,821 |
Dallas Regional Chamber Dallas, TX | $15,269,996 | $9,505,789 |
Brazos Pilots Association Freeport, TX | $5,263,034 | $10,473,577 |
American Agape Foundation Inc San Antonio, TX | $56,717,465 | $7,832,495 |
Salesmanship Club Of Dallas Dallas, TX | $14,081,869 | $8,485,267 |
United Brotherhood Of Carpenters And Joiners Of America Metairie, LA | $27,400,853 | $8,587,017 |
Texas Oil And Gas Association Inc Austin, TX | $10,912,231 | $6,947,737 |