Payments Leadership Association
- Assets
- $534.9k
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 0
- Location
- Washington, DC
- Founding
- Data as of
- 02/2022
- EIN
- 84-4472218
Organization Overview
Payments Leadership Association is located in Washington, DC. According to its NTEE Classification (S46) the organization is classified as: Boards of Trade, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Payments Leadership 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 02/2022, Payments Leadership Association generated $1.8m in total revenue. This organization has experienced exceptional growth, as over the past 2 years, it has increased revenue by an average of 32.3% each year . All expenses for the organization totaled $1.4m during the year ending 02/2022. While expenses have increased by 36.9% per year over the past 2 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
THE PAYMENTS LEADERSHIP COUNCIL (PLC) BRINGS TOGETHER CHIEF EXECUTIVES OF AMERICA'S PREEMINENT PAYMENTS ORGANIZATIONS TO SHARE THEIR UNIQUE INSIGHTS AND PERSPECTIVES FOR INNOVATIVE, SECURE, AND EFFECTIVE PAYMENTS SOLUTIONS IN A RAPIDLY CHANGING GLOBAL ECONOMY. THE GOAL OF THE ORGANIZATION IS TO EXPAND GLOBAL COMMERCE AND DRIVE INCLUSIVE GROWTH BY ENCOURAGING PUBLIC POLICIES THAT PROTECT CONSUMERS, FOSTER INCLUSION AND PROMOTE INNOVATION AND COMPETITION IN PAYMENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SERVE AS THE ELECTRONIC PAYMENTS INDUSTRY'S VOICE TO ADVANCE THE COMMON BUSINESS INTERESTS OF ITS MEMBERS. SEEK TO EDUCATE THE PUBLIC, GOVERNMENT AND INDUSTRY THROUGH THE PRODUCTION AND DISSEMINATION OF EDUCATIONAL MATERIALS AFFECTING ELECTRONIC PAYMENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alfred Kelly Jr Board Chair | OfficerTrustee | 0.5 | $0 |
Robert Thomson III Secretary | OfficerTrustee | 1.5 | $0 |
Rajeev Date President | OfficerTrustee | 4 | $0 |
Gary Norcross Vice Chair | OfficerTrustee | 0.5 | $0 |
Brett Loper Treasurer | OfficerTrustee | 0.5 | $0 |
Michael Miebach Director | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Fs Vector Llc Consulting | 2/27/22 | $715,000 |
Hamilton Place Strategies Llc Consulting | 2/27/22 | $560,000 |
Mcdermott Will & Emery Llp Legal | 2/27/22 | $124,168 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,750,000 |
| 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 | $1,750,000 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,750,000 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $124,168 |
| Fees for services: Accounting | $10,040 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,275,000 |
| Advertising and promotion | $1,554 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $33,866 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $37 |
| Insurance | $2,717 |
| All other expenses | $0 |
| Total functional expenses | $1,448,322 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $534,411 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $472 |
| Other assets | $0 |
| Total assets | $534,883 |
| Accounts payable and accrued expenses | $6,183 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $6,183 |
| 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 | $50 |
| Retained earnings, endowment, accumulated income, or other funds | $528,650 |
| Total liabilities and net assets/fund balances | $534,883 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
American College Of Trust And Estate Counsel Inc Washington, DC | $7,291,426 | $5,965,924 |
Public Policy Fund Inc Washington, DC | $1,497,724 | $4,785,450 |
Leadership Council On Legal Diversity Inc Richmond, VA | $7,023,795 | $4,176,806 |
Greater Washington Board Of Trade Washington, DC | $1,928,129 | $2,840,463 |
Association Of Clinical Research Organizations Washington, DC | $2,656,292 | $2,241,906 |
Styrene Information And Research Center Inc Towson, MD | $1,447,485 | $1,359,270 |
Payments Leadership Association Washington, DC | $534,883 | $1,750,000 |
Revenue Based Finance Coalition Inc Potomac Falls, VA | $56,846 | $1,351,233 |
Construction Industry Round Table Inc Mc Lean, VA | $1,218,040 | $1,218,712 |
National Homeland Security Association Inc Falls Church, VA | $416,677 | $981,390 |
Maryland Automobile Dealers Association Inc Annapolis, MD | $5,415,430 | $303,685 |
Native American Contractors Association Washington, DC | $646,403 | $725,787 |