Michigan Bankers Association
- Assets
- $7.4m
- Revenue
- $3.4m
- Investments
- $0.0
- Employees
- 13
- Location
- Lansing, MI
- Founding
- 02/1944
- Data as of
- 06/2023
- EIN
- 38-0823040
Organization Overview
Michigan Bankers Association is located in Lansing, MI. The organization was established in 1944. 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 06/2023, Michigan Bankers Association employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Michigan 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 06/2023, Michigan Bankers Association generated $3.4m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.7%) each year. All expenses for the organization totaled $3.2m during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (2.0%) per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
ADVOCATING FOR AND SUPPORTING BANKING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ADVOCATING FOR AND SUPPORTING BANKING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eric Beckhusen Director | Trustee | 1 | $0 |
Matthew Keene Director | Trustee | 1 | $0 |
Jenny Meier Director | Trustee | 1 | $0 |
Gregg Christenson Director | Trustee | 1 | $0 |
Edwin H Eichler Director | Trustee | 1 | $0 |
Kenneth Kelly Director | Trustee | 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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $3,150,471 |
| Investment income | $64,102 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $65,000 |
| Net Rental Income | $120,332 |
| Net Gain/Loss on Asset Sales | $9,922 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,409,827 |
| 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. | $493,584 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,036,250 |
| Pension plan accruals and contributions | $110,780 |
| Other employee benefits | $140,511 |
| Payroll taxes | $92,739 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $34,397 |
| Fees for services: Accounting | $18,229 |
| Fees for services: Lobbying | $39,339 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $3,922 |
| Fees for services: Other | $14,134 |
| Advertising and promotion | $0 |
| Office expenses | $174,259 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $138,148 |
| Travel | $72,290 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $605,211 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $76,186 |
| Insurance | $33,461 |
| All other expenses | $20,587 |
| Total functional expenses | $3,224,431 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,399,211 |
| Savings and temporary cash investments | $1,520,099 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $65,161 |
| 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 | $184,858 |
| Net Land, buildings, and equipment | $1,197,054 |
| Investments—publicly traded securities | $1,026,280 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,971,053 |
| Total assets | $7,363,716 |
| Accounts payable and accrued expenses | $701,368 |
| Grants payable | $0 |
| Deferred revenue | $1,204,011 |
| 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 | $1,133,497 |
| Total liabilities | $3,038,876 |
| Net assets without donor restrictions | $0 |
| 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 | $4,324,840 |
| Total liabilities and net assets/fund balances | $7,363,716 |