Utah Bankers Assn
- Assets
- $1.6m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 5
- Location
- Salt Lake City, UT
- Founding
- 04/1964
- Data as of
- 07/2022
- EIN
- 87-0237881
Organization Overview
Utah Bankers Assn is located in Salt Lake City, UT. The organization was established in 1964. 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 07/2022, Utah Bankers Assn employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Utah Bankers Assn 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 07/2022, Utah Bankers Assn generated $1.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.6% each year. All expenses for the organization totaled $1.3m during the year ending 07/2022. While expenses have increased by 2.8% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
UTAH BANKERS ASSOCIATION IS A FINANCIAL SERVICES TRADE ASSOCIATION COMPRISED OF REGIONAL, COMMUNITY, AND INDUSTRIAL BANKS. THE MISSION: TO PROMOTE A FAVORABLE IMAGE AND UNDERSTANDING OF THE BANKING INDUSTRY AND MAINTAIN THE PUBLIC CONFIDENENCE IN THE STRENGTH AND SECURITY OF UTAH'S FIN'L SERVICE INDUSTRY - PROTECT THE INDUSTRY AGAINST LEGISLATION WHICH COULD RESULT IN UNDUE DISADVANTAGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GOVERNMENT RELATIONS: THE 2021/2021 LEGISLATIVE SESSION WAS A VERY SUCCESSFUL SESSION. UTAH WAS FIRST STATE TO SUCCESSFULLY PROTECT BANKS FROM TRANSPORTATION NETWORK COMPANY RISKS. MONITORED OVER 12 PIECES OF LEGISLATION DURING SESSIONS. STRENGTHENED COMMUNICATIONS ON UTAH.BANK WEBSITE PROVIDING RESOURCES RELATIVE TO PANDEMIC. PLANNED AND EXECUTED OVER 10 ANNUAL CONFERENCES AND EVENTS. DESIGNED AND IMPLEMENTED A STAND-ALONE PLATFORM FOR USE IN SOCIETY. PUBLISHED 3 ISSUES OF UTAH BANKER MAGAZINE.
EDUCATION: UBA CONTINUES TO EXPAND THE EXECUTIVE DEVELOPMENT PROGRAM. YEAR LONG PROGRAM PROVIDES INTENSIVE 12 MONTH PROGRAM OF EDUCATION ON A WIDE RANGE OF BANKING TOPICS. UBA HAS ENROLLMENT OF MANY STUDENTS FROM A WIDE RANGE OF BANKS. THE INITIAL REPORTS FROM THE STUDENTS AND BANKS WAS OUTSTANDING. EXECUTED BANKER DAY AT THE STATE LEGISLATURE. ORGANIZED AND HELD THE CREDIT ANALYST DEVELOPMENT FOR SEVERAL BANKERS. MONTHLY EMAIL FLIER "SPOTLIGHT ON TRAINING" - TRAINING COURSES AND WEBINARS. EXECUTED FOUR INTERACTIVE "LEADERSHIP INSIGHTS" AS VIRTUAL CONFERENCES FEATURING BANK CEOS, EACH AVERAGING AROUND 30 PARTICIPANTS. HOSTED WEBINARS ON EFFECTIVE CHANGE MANAGEMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Howard Headlee President | Officer | 40 | $309,611 |
Rebecca Wilkes Vice President | Officer | 40 | $133,983 |
Mark Herman Board Member | Trustee | 0 | $0 |
Dan Kennedy Board Member | Trustee | 0 | $0 |
Spencer White Board Member | Trustee | 0 | $0 |
Drew Yergensen Board Member | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $989,000 |
| 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 | $989,000 |
| Total Program Service Revenue | $262,280 |
| 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 | $1,248,185 |
| 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. | $443,594 |
| Compensation of current officers, directors, key employees. | $221,797 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $259,348 |
| Pension plan accruals and contributions | $40,722 |
| Other employee benefits | $0 |
| Payroll taxes | $43,416 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $17,612 |
| Fees for services: Accounting | $11,140 |
| Fees for services: Lobbying | $91,610 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $88,822 |
| Information technology | $55,759 |
| Royalties | $0 |
| Occupancy | $87,451 |
| Travel | $41,174 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $38,495 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $12,254 |
| Insurance | $43,210 |
| All other expenses | $0 |
| Total functional expenses | $1,274,607 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,392,393 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $140,096 |
| 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 | $29,950 |
| Net Land, buildings, and equipment | $27,132 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,589,571 |
| Accounts payable and accrued expenses | $253,397 |
| Grants payable | $0 |
| Deferred revenue | $235,668 |
| 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 | $489,065 |
| Net assets without donor restrictions | $1,100,506 |
| 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 | $1,589,571 |
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|---|---|---|
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