California Mortgage Bankers Association
- Assets
- $3.7m
- Revenue
- $2.6m
- Investments
- $0.0
- Employees
- 4
- Location
- Roseville, CA
- Founding
- 04/1957
- Data as of
- 10/2023
- EIN
- 94-1701188
Organization Overview
California Mortgage Bankers Association is located in Roseville, CA. The organization was established in 1957. 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 10/2023, California Mortgage Bankers Association employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. California 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 10/2023, California Mortgage Bankers Association generated $2.6m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.6% each year. All expenses for the organization totaled $2.7m during the year ending 10/2023. While expenses have increased by 3.5% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
WE REPRESENT RESIDENTIAL AND COMMERCIAL REAL ESTATE FINANCE INDUSTRY BEFORE ALL GOVERNING BODIES. WE ENCOURAGE AND PROMOTE SOUND BUSINESS PRACTICES AND HONESTY IN MARKETING, ORIGINATION, LENDING, AND SERVICING OF MORTGAGE LOANS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CMBA CONDUCTS EDUCATIONAL SEMINARS AND MEETINGS FOR AND ON BEHALF OF ITS MEMBERS. THE ASSOCIATION'S CONFERENCES AND OTHER EVENTS GIVE PARTICIPANTS A GREAT OPPORTUNITY TO REACH OUT TO OTHERS IN THE INDUSTRY AND MAKE LASTING AND VALUABLE RELATIONSHIPS, BOTH PROFESSIONAL AND PERSONAL. WITH MAJOR ANNUAL CONFERENCES COVERING SECONDARY MARKETING , LOAN SERVICING, AND THE COMMERCIAL/MULTI FAMILY INDUSTRY, ONE DAY CONFERENCES AND WORKSHOPS THROUGHOUT THE YEAR AND THE FUTURE LEADERS PROGRAM, CMBA IS COMMITTED TO PROFESSIONAL DEVELOPMENTS.CMBA MONITORS AND ANALYZES LEGISLATION WHICH MAY AFFECT THE MORTGAGE BANKING INDUSTRY. CMBA SERVES ITS MEMBERSHIP BY REPRESENTING THEIR LEGISLATIVE AND REGULATORY INTERESTS BEFORE THE CALIFORNIA LEGISLATURE, THE GOVERNOR'S OFFICE, THE DEPARTMENT OF BUSINESS OVERSIGHT, THE BUREAU OF REAL ESTATE AND OTHER REGULATORY AGENCIES. CMBA ALSO WORKS CLOSELY WITH THE MORTGAGE BANKERS ASSOCIATION IN WASHINGTON D.C. TO PROVIDE SUPPORT, GUIDANCE AND EXPERTISE ON FEDERAL ISSUES IMPACTING BUSINESS IN CALIFORNIA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Susan Milazzo CEO | Officer | 40 | $290,264 |
Susan Wilfley Finance Manager | 40 | $103,377 | |
Jon Irvine Director | Trustee | 2 | $0 |
Nick Pabarcus Director | Trustee | 2 | $0 |
Laura Martell Director | Trustee | 2 | $0 |
John Hedlund Past Chair | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Kp Public Affairs Legislative Advocacy | 10/30/22 | $242,500 |
Alliance Expo Services Trade Show | 10/30/22 | $148,491 |
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 | $2,593,513 |
| Investment income | $24,626 |
| 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 | $2,627,345 |
| 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. | $345,309 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $243,348 |
| Pension plan accruals and contributions | $27,559 |
| Other employee benefits | $46,206 |
| Payroll taxes | $33,078 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $28,179 |
| Fees for services: Accounting | $52,790 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $56,661 |
| Advertising and promotion | $170,000 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $42,656 |
| Travel | $4,327 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,126,843 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $10,229 |
| Insurance | $7,890 |
| All other expenses | $102,906 |
| Total functional expenses | $2,708,214 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,694,659 |
| Savings and temporary cash investments | $1,164,832 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $120,820 |
| 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 | $494,529 |
| Net Land, buildings, and equipment | $27,040 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $9,924 |
| Other assets | $152,654 |
| Total assets | $3,664,458 |
| Accounts payable and accrued expenses | $187,788 |
| Grants payable | $0 |
| Deferred revenue | $240,447 |
| 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 | $165,719 |
| Total liabilities | $593,954 |
| Net assets without donor restrictions | $3,070,504 |
| 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 | $3,664,458 |