Alabama Bankers Association Inc
- Assets
- $3.5m
- Revenue
- $3.8m
- Investments
- $226.0k
- Employees
- 12
- Location
- Montgomery, AL
- Founding
- 09/1980
- Data as of
- 12/2021
- EIN
- 63-0788044
Organization Overview
Alabama Bankers Association Inc is located in Montgomery, AL. The organization was established in 1980. According to its NTEE Classification (S21) the organization is classified as: Community Coalitions, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Alabama Bankers Association Inc employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Alabama 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 12/2021, Alabama Bankers Association Inc generated $3.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.5% each year. All expenses for the organization totaled $3.7m during the year ending 12/2021. While expenses have increased by 1.4% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE THE PRESERVATION AND CONTINUED DEVELOPMENT OF COMMERCIAL BANKING IN ALABAMA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATIONAL PROGRAMS: BANKING SCHOOL AND SEMINARS FOR THE ENHANCEMENT OF BANKER'S SKILL AND KNOWLEDGE IN COMMERCIAL BANKING
MEMBER SERVICES: CONVENTIONS, MEETINGS, AND OTHER EXPENSES PROMOTING INTEREST IN THE COMMERCIAL BANKING INDUSTRY AND LEGISLATIVE AFFAIRS
PUBLICATIONS: NEWSLETTER AND MAGAZINE PROMOTING COMMERCIAL BANKING AND PROVIDED CONTINUED EDUCATION ON COMMERCIAL BANKING
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Scott Latham President & CEO | Officer | 40 | $533,323 |
Janice Cox Senior Vice-President | 40 | $261,007 | |
Melissa Garrett Vice-President Of Accounti | 35 | $126,277 | |
Mike Ross Vice Chairman | OfficerTrustee | 0.4 | $0 |
Jimmy Stubbs Past Chairman | OfficerTrustee | 1 | $0 |
Steve Smith - Southpoint Bank Chairman | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $31,616 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $18,950 |
| Noncash contributions included in lines 1a–1f | $8,626 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $50,566 |
| Total Program Service Revenue | $3,492,592 |
| Investment income | $3,048 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $31,034 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $100 |
| Net Income from Fundraising Events | -$2,165 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,822,540 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $21,950 |
| Grants and other assistance to domestic individuals. | $4,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $568,288 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $835,129 |
| Pension plan accruals and contributions | $90,053 |
| Other employee benefits | $91,787 |
| Payroll taxes | $76,179 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $18,825 |
| Fees for services: Lobbying | $117,775 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $16,747 |
| Advertising and promotion | $0 |
| Office expenses | $139,399 |
| Information technology | $74,810 |
| Royalties | $0 |
| Occupancy | $209,925 |
| Travel | $29,687 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $980,309 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $103,335 |
| Insurance | $14,604 |
| All other expenses | $8,143 |
| Total functional expenses | $3,659,373 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,181,406 |
| Savings and temporary cash investments | $689,168 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $66,727 |
| 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 | $96,490 |
| Net Land, buildings, and equipment | $245,971 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $226,013 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,505,775 |
| Accounts payable and accrued expenses | $195,208 |
| Grants payable | $0 |
| Deferred revenue | $1,219,130 |
| 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 | $0 |
| Total liabilities | $1,414,338 |
| Net assets without donor restrictions | $2,075,199 |
| Net assets with donor restrictions | $16,238 |
| 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 | $3,505,775 |
Endowment Analysis
| Beg. Balance | $19,238 |
| Net Contributions | $18,950 |
| Grants | $21,950 |
| Ending Balance | $16,238 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Catalyst Miami Inc Miami, FL | $6,303,962 | $5,374,874 |
Alabama Bankers Association Inc Montgomery, AL | $3,505,775 | $3,822,540 |
Georgia Rural Water Association Incorporated Barnesville, GA | $3,435,226 | $4,117,604 |
Florida Association Of Centers For Independent Living Inc Facil Tallahassee, FL | $7,894,913 | $3,870,768 |
Alabama Rural Water Association Montgomery, AL | $2,377,857 | $3,170,318 |
Southern Foundation For Homeless Starkville, MS | $418,045 | $2,462,032 |
Macon-Russell Community Action Agency Incorporated Tuskegee, AL | $785,450 | $2,551,458 |
New Town Macon Inc Macon, GA | $28,447,383 | $5,896,499 |
Faith In Florida Inc Orlando, FL | $1,660,314 | $1,913,731 |
Palm Beach Civic Association Inc Palm Beach, FL | $3,106,965 | $1,972,810 |
Federal Alliance For Safe Homes -Flash Inc Tallahassee, FL | $1,877,404 | $1,813,662 |
Quality Life Center Of Southwest Florida Inc Fort Myers, FL | $3,568,924 | $1,373,755 |