Connecticut Bankers Association

Organization Overview

Connecticut Bankers Association is located in Farmington, CT. The organization was established in 1945. 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 07/2021, Connecticut Bankers Association employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Connecticut 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 07/2021, Connecticut Bankers Association generated $2.1m 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 (4.7%) each year. All expenses for the organization totaled $1.9m during the year ending 07/2021. As we would expect to see with falling revenues, expenses have declined by (5.3%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

THE MISSION OF THE CONNECTICUT BANKERS ASSOCIATION IS TO REPRESENT THE FINANCIAL INSTITUTIONS IN THE STATE OF CONNECTICUT AND TO SERVE AS THE VOICE OF ITS MEMBERS IN MATTERS OF THEIR COMMON INTEREST.

Describe the Organization's Program Activity:

Part 3 - Line 4a

LOBBYING OF LEGISLATORS REGARDING BANKING LAWS, CONVENTIONS, BANK COMPLIANCE SYMPOSIUMS, AND FDIC WORKSHOPS FOR THE BENEFIT OF ITS MEMBERS.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Hinckley Allen & Snyder Llp
Legal Services
$252,492
Gaffney Bennett & Associates Inc
Legislative Services
$120,317
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$7,425
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$14,000
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$21,425
Total Program Service Revenue$1,972,080
Investment income $12,280
Tax Exempt Bond Proceeds $0
Royalties $86,250
Net Rental Income $0
Net Gain/Loss on Asset Sales -$3,623
Net Income from Fundraising Events $401
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $2,135,467

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