Virginia Bankers Association

Organization Overview

Virginia Bankers Association is located in Glen Allen, VA. The organization was established in 1942. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Virginia Bankers Association employed 30 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Virginia 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 12/2021, Virginia Bankers Association generated $2.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.6% each year. All expenses for the organization totaled $1.2m during the year ending 12/2021. While expenses have increased by 1.6% per year over the past 7 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

REPRESENT THE BANKING INDUSTRY AND PROVIDE SERVICES TO MEMBER BANKS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

PROTECTING THE INTERESTS OF COMMERCIAL AND SAVINGS BANKS IN VIRGINIA AND PROVIDING CONTINUING EDUCATION FOR MEMBERS.


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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$1,125,018
Investment income $15,048
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $22,000
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $2,240,117

Grants Recieved

Over the last fiscal year, we have identified 2 grants that Virginia Bankers Association has recieved totaling $5,000.

Awarding OrganizationAmount
Bank Of America Charitable Foundation Inc

Charlotte, NC

PURPOSE: OPERATIONAL SUPPORT

$3,000
Southern Bank Foundation

Mount Olive, NC

PURPOSE: DONATION

$2,000
View Grant Recipient Profile

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