Overview
What is Massachusetts Bankers Association Inc?
Massachusetts Bankers Association Inc is a Boston-based nonprofit organization with a mission to represent and advocate for the interests of its member financial institutions and the wider Massachusetts and New England banking industry. By offering quality services, the organization caters to a broad constituency and fulfills its mandate through various initiatives. These include legislative and regulatory efforts, education, media and public relations, consumer education, and support for members to compete effectively in the rapidly evolving financial services sector. With a workforce of 24 employees, the Massachusetts Bankers Association plays a significant role in shaping the banking landscape in the region.
Official website here: www.massbankers.org
What are the reviews and ratings of this charity?
The Massachusetts Bankers Association Inc. is not currently rated by Charity Navigator, primarily due to its status as a non-501(c)(3) organization, which excludes it from the traditional evaluation system. This does not reflect negatively on the organization; rather, it highlights differences in eligibility and assessment criteria applied by Charity Navigator.
Charity Navigator typically assesses organizations based on various beacons, including Accountability & Finance, and requires specific IRS registration. Since Massachusetts Bankers Association Inc. does not fit these criteria, standard indicators such as revenue, expenses, or key personnel salaries are not evaluated. The absence of a rating merely indicates untapped data rather than an organizational inefficiency.
There are no user reviews from GreatNonprofits, so community feedback is unavailable. This lack of qualitative input can make it challenging to gauge public perception and engagement levels. Overall, while concrete metrics and user insights are missing, this lack does not inherently reflect on the nonprofit's effectiveness or impact.
This AI summary has been generated from information found on Charity Navigator.
Is Massachusetts Bankers Association Inc legitimate?
Massachusetts Bankers Association Inc is a legitimate nonprofit organization registered as a 501(c)(6) entity. Massachusetts Bankers Association Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $2,166,311
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,250,767
For more financial information, click here
Official website here: www.massbankers.org
What is the mission statement of Massachusetts Bankers Association Inc?
The Massachusetts Bankers Association (MBA) advocates for and represents the interests of its member institutions and the Massachusetts and New England banking industry at large. By offering quality services, the MBA caters to a diverse constituency. The organization executes its mandate through legislative and regulatory initiatives, educational programs, media and public relations, consumer education, and assistance for members to effectively compete in the rapidly changing financial services sector.
Official website here: www.massbankers.org
Who is the CEO of Massachusetts Bankers Association Inc?
William J Tsoules is the Director of Massachusetts Bankers Association Inc. The CEO's salary of Massachusetts Bankers Association Inc is $735,248 and their total compensation is $903,548.
Official website here: www.massbankers.org
What is the revenue of Massachusetts Bankers Association Inc?
Massachusetts Bankers Association Inc's revenue in 2022 was $16,257,627.
Official website here: www.massbankers.org
Who are the executives of Massachusetts Bankers Association Inc and what are their salaries?
The average compensation at Massachusetts Bankers Association Inc during 2022 was $142,378. There are 24 employees and 20 volunteers at Massachusetts Bankers Association Inc.
Here are 30 key members and their salaries (Massachusetts Bankers Association Inc's CEO's salary is $735,248 and their total compensation is $903,548):
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- Compensation: $735,248
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- Compensation: $321,787
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- Compensation: $165,480
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- Compensation: $210,165
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- Other: $18,185
- Compensation: $154,981
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- Other: $16,481
- Compensation: $168,181
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- Other: $24,240
Official website here: www.massbankers.org
Where can I find the form 990 for Massachusetts Bankers Association Inc?
Massachusetts Bankers Association Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.massbankers.org
Learn more at the official website: www.massbankers.org
Mission Statement of Massachusetts Bankers Association Inc
The Massachusetts Bankers Association, or MBA, is a prominent organization that champions the interests of its member institutions and the Massachusetts and New England banking industry as a whole. Established to advocate on behalf of its constituents, the MBA carries out its mission through a multifaceted approach that includes legislative and regulatory initiatives, education, media relations, consumer education, and assistance for effective competition in the rapidly evolving financial services sector.
In pursuit of this mission, the MBA serves as a powerful voice for its member institutions, advocating on their behalf in the legislative and regulatory spheres. It leverages its influence to shape policies that benefit the banking industry and its clients. In addition, the MBA offers valuable services designed to meet the needs of its diverse membership, providing a platform for networking, knowledge sharing, and professional development.
The MBA's commitment to education is evident through its various initiatives, which include educational programs, seminars, and workshops. These offerings enable members to stay informed about industry trends and regulatory changes, ensuring they remain competitive in their respective markets. Furthermore, the MBA's media and public relations efforts help raise awareness about the critical role of banks in the economy and the crucial services they provide to consumers and businesses.
Through its consumer education programs, the MBA empowers individuals to make informed decisions about their financial lives. By offering educational resources and tools, the organization fosters financial literacy and encourages sound financial practices. Additionally, the MBA provides valuable assistance to its members, helping them navigate the complex regulatory landscape and compete effectively in the industry.
In summary, the Massachusetts Bankers Association is a dynamic and influential organization dedicated to representing the interests of its member institutions and the Massachusetts and New England banking industry. Through its advocacy, education, media relations, consumer education, and assistance efforts, the MBA plays a vital role in promoting the growth and success of its members and the banking industry as a whole.
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Impact
October, 2024
The Massachusetts Bankers Association Inc (MBA) significantly impacts the banking landscape in Massachusetts and New England by advocating for the interests of member institutions and the broader banking industry. Through active legislative and regulatory initiatives, the MBA influences policies that shape the financial sector, ensuring that the voices of local banks are heard in crucial discussions.
The organization is dedicated to education and consumer awareness, providing resources that enhance the knowledge of both banking professionals and the public. This commitment to education helps banking institutions adapt to the rapidly evolving financial services landscape, allowing them to remain competitive and responsive to consumer needs.
Additionally, the MBA plays a vital role in media and public relations, promoting a positive image of the banking industry. By focusing on community improvement, the MBA fosters relationships that benefit local economies and support the financial well-being of individuals and businesses alike.
Overall, the Massachusetts Bankers Association acts as a crucial pillar for the banking community, championing their interests while driving initiatives that strengthen the financial framework within which they operate.
This information is meant to be a general summary of Massachusetts Bankers Association Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $9,744,987
- Program Service Revenue: $3,795,653
- Gross Receipts: $17,961,481
Assets and Liabilities:
- Total Assets: $24,529,155
- Total Liabilities: $3,730,460
- Net Assets: $20,798,695
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SEMINARS
Revenue
$1,359,167
ROYALTY INCOME
Revenue
$759,981
ANNUAL CONVENTION
Revenue
$561,996
SCHOOL INCOME
Revenue
$554,469
ADMINISTRATIVE FEE
Revenue
$499,055
Organization Details
Founding Year
1905
Phone
(617) 523-7595Principal Officer
William J Tsoules
Main Address
ONE WASHINGTON MALL 8TH FLOOR, BOSTON, MA, 021082603
Website
www.massbankers.orgNTEE Category
Code: S41 - Community improvement
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