Alabama Bankers Association Inc
- Assets
- $4.2m
- Revenue
- $4.2m
- Investments
- $216.2k
- Employees
- 14
- Location
- Montgomery, AL
- Founding
- 09/1980
- Data as of
- 12/2022
- 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 12/2022, Alabama Bankers Association Inc employed 14 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 12/2022, Alabama Bankers Association Inc generated $4.2m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.3% each year. All expenses for the organization totaled $3.8m during the year ending 12/2022. While expenses have increased by 1.5% per year over the past 6 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
2022
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 |
|---|---|---|---|
Steve Smith - Southpoint Bank Past Chairman | OfficerTrustee | 1 | $0 |
Hope Johnson Chairman | OfficerTrustee | 0.4 | $0 |
Mike Ross Chairman-Elect | OfficerTrustee | 0.4 | $0 |
Chris Carothers Director | Trustee | 0.4 | $0 |
Robert Dumas Director | Trustee | 0.4 | $0 |
Dwight Gamble Treasurer | OfficerTrustee | 0.4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $29,163 |
| Related organizations | $0 |
| Government grants | $190,070 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $8,188 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $219,233 |
| Total Program Service Revenue | $3,605,469 |
| Investment income | $3,149 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $44,956 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$4,593 |
| Net Income from Fundraising Events | -$2,658 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,156,491 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $588,507 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $962,375 |
| Pension plan accruals and contributions | $66,721 |
| Other employee benefits | $105,448 |
| Payroll taxes | $85,525 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $18,442 |
| Fees for services: Accounting | $20,745 |
| Fees for services: Lobbying | $77,801 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $46,907 |
| Advertising and promotion | $0 |
| Office expenses | $158,467 |
| Information technology | $72,156 |
| Royalties | $0 |
| Occupancy | $27,033 |
| Travel | $45,972 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $956,084 |
| Interest | $11,494 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $303,137 |
| Insurance | $14,604 |
| All other expenses | $9,957 |
| Total functional expenses | $3,842,941 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,304,152 |
| Savings and temporary cash investments | $500,059 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $127,206 |
| 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 | $119,545 |
| Net Land, buildings, and equipment | $254,536 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $216,206 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $725,685 |
| Total assets | $4,247,389 |
| Accounts payable and accrued expenses | $59,542 |
| Grants payable | $0 |
| Deferred revenue | $1,025,164 |
| 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 | $767,502 |
| Total liabilities | $1,852,208 |
| Net assets without donor restrictions | $2,378,943 |
| 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 | $4,247,389 |