Maryland Bankers Association Inc
- Assets
- $2.8m
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 8
- Location
- Annapolis, MD
- Founding
- 11/1989
- Data as of
- 06/2021
- EIN
- 52-1545256
Organization Overview
Maryland Bankers Association Inc is located in Annapolis, MD. The organization was established in 1989. According to its NTEE Classification (W03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Public & Societal Benefit and related organizations. As of 06/2021, Maryland Bankers Association Inc employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Maryland Bankers Association Inc 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 06/2021, Maryland Bankers Association Inc generated $1.7m 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 (4.2%) each year. All expenses for the organization totaled $1.7m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (4.9%) per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE THE STRENGTH AND SUCCESS OF MARYLAND BANKS AND BANKERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE PART IX "STATEMENT OF FUNCTIONAL EXPENSES" TITLES OF PROGRAMS PROVIDED FOR THE BENEFIT OF STATEWIDE MEMBER BANKS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kathleen M Murphy President/ceo/tr. Through 8/28/20 | Officer | 45 | $433,553 |
Cynthia Gentilcore Evp/coo/corporate Secretar | Officer | 40 | $194,158 |
Miriam Lehman SVP Gov Relations & Communications | Officer | 40 | $170,914 |
Kevin B Cashen Chairman-Elect | OfficerTrustee | 2 | $0 |
William J Pasenelli Chairman | OfficerTrustee | 2 | $0 |
Robert E Goetz Jr Past Chairman | OfficerTrustee | 2 | $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 | $1,640,045 |
| Investment income | $9,278 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $24,144 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $52,774 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,743,920 |
| 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. | $676,560 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $176,548 |
| Pension plan accruals and contributions | $29,830 |
| Other employee benefits | $20,722 |
| Payroll taxes | $46,317 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $52,479 |
| Fees for services: Accounting | $27,300 |
| Fees for services: Lobbying | $100,451 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $4,270 |
| Fees for services: Other | $132,753 |
| Advertising and promotion | $1,069 |
| Office expenses | $13,912 |
| Information technology | $47,195 |
| Royalties | $0 |
| Occupancy | $85,569 |
| Travel | $6,585 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $39,892 |
| Interest | $46,718 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $49,330 |
| Insurance | $8,658 |
| All other expenses | $35,221 |
| Total functional expenses | $1,718,110 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $200 |
| Savings and temporary cash investments | $955,796 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $30,044 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $9,103 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $70,999 |
| Net Land, buildings, and equipment | $1,068,889 |
| Investments—publicly traded securities | $571,723 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $111,451 |
| Total assets | $2,818,205 |
| Accounts payable and accrued expenses | $130,975 |
| Grants payable | $0 |
| Deferred revenue | $661,097 |
| 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 | $1,459,853 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $24,350 |
| Total liabilities | $2,276,275 |
| Net assets without donor restrictions | $541,930 |
| 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 | $2,818,205 |
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