Washington Bankers Association
- Assets
- $3.9m
- Revenue
- $1.5m
- Investments
- $177.2k
- Employees
- 7
- Location
- Seattle, WA
- Founding
- 07/1937
- Data as of
- 12/2022
- EIN
- 91-0459700
Organization Overview
Washington Bankers Association is located in Seattle, WA. The organization was established in 1937. 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 12/2022, Washington Bankers Association employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Washington 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 12/2022, Washington Bankers Association generated $1.5m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (3.0%) each year. All expenses for the organization totaled $1.3m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (5.6%) per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE WBA IS COMMITTED TO SUPPORTING AND ADVANCING THE BANKING INDUSTRY IN THE NORTHWEST AND BEYOND
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE MEMBER COMPANIES ADVOCACY AT THE STATE LEVEL AS TO ADVANCE THE INTERESTS OF THE BANKING COMMUNITY
PROVIDE MEMBER COMPANIES ACCESS TO EDUCATIONAL PROGRAMS SPECIFIC TO THE BANKING INDUSTRY TO FURTHER THE PROFESSIONAL KNOWLEDGE, DEVELOPMENT, AND AIMS OF EMPLOYEES IN THE BANKING INDUSTRY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Glen Simecek President & CEO | Officer | 40 | $330,632 |
Duncan Taylor Senior Vice President | Officer | 40 | $149,854 |
Jack Heath Director | Trustee | 1 | $0 |
Susan Horton Director | Trustee | 1 | $0 |
Jon Jones Director | Trustee | 1 | $0 |
Joseph Kiley Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Orrick Herrington & Sutcliffe Llp Legal | 12/30/22 | $171,318 |
Trent M House Government Affairs Government Relations Services | 12/30/22 | $120,000 |
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 | $190,036 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $190,036 |
| Total Program Service Revenue | $1,266,603 |
| Investment income | $622 |
| 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 | $1,457,261 |
| 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. | $420,671 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $228,096 |
| Pension plan accruals and contributions | $48,986 |
| Other employee benefits | $37,023 |
| Payroll taxes | $38,288 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $12,686 |
| Fees for services: Accounting | $16,227 |
| Fees for services: Lobbying | $145,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $13,500 |
| Advertising and promotion | $1,042 |
| Office expenses | $23,327 |
| Information technology | $21,703 |
| Royalties | $0 |
| Occupancy | $54,693 |
| Travel | $39,328 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $205,241 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,923 |
| Insurance | $6,109 |
| All other expenses | -$115,269 |
| Total functional expenses | $1,263,195 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $734,288 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $121,186 |
| 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 | $86,761 |
| Net Land, buildings, and equipment | $82,181 |
| Investments—publicly traded securities | $2,713,303 |
| Investments—other securities | $177,241 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,914,960 |
| Accounts payable and accrued expenses | $123,268 |
| Grants payable | $0 |
| Deferred revenue | $378,474 |
| 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 | $501,742 |
| Net assets without donor restrictions | $3,413,218 |
| 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 | $3,914,960 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Gowest Credit Union Association Seatac, WA | $39,651,410 | $14,757,280 |
Oneamerica Seattle, WA | $6,430,572 | $4,275,004 |
Oregon Bankers Association Salem, OR | $6,084,242 | $2,290,377 |
Idaho Dairymens Association Inc Twin Falls, ID | $356,493 | $1,996,423 |
Medical Users Software Exchange Inc Spokane, WA | $3,207,964 | $1,747,769 |
Washington Bankers Association Seattle, WA | $3,914,960 | $1,457,261 |
Washington Soft Drink Association Pac Olympia, WA | $482,518 | $433,654 |
Westside Economic Alliance Tigard, OR | $181,869 | $305,552 |
Friends Of Frog Ferry Portland, OR | $636 | $0 |
Post Growth Institute Ashland, OR | $117,509 | $344,134 |
B Local Pdx Portland, OR | $101,903 | $0 |
Portland Peace Initiative Inc Portland, OR | $2,752 | $0 |
350deschutes Bend, OR | $133,283 | $0 |
Alaska Mobility Coalition Anchorage, AK | $35,575 | $0 |
Public Node Portland, OR | $147,584 | $0 |
Peoples Foundation For Better Opportunities Beaverton, OR | $39,167 | $0 |
Redmond Executive Association Foundation Inc Redmond, OR | $28,606 | $0 |
Sustainable Silverton Silverton, OR | $3,109 | $4,743 |