Overview
What is The New England Automated Clearing House Association?
The New England Automated Clearing House Association is a nonprofit organization situated in Burlington, Massachusetts. Its primary mission is to support and improve electronic transactions by offering products, services, education, and marketing. The association caters to over 395 financial institutions and 71 associate members within the region, serving an extensive 96% of commercial banks and thrifts, and 55% of credit unions in New England. By doing so, it assists its members in originating and receiving Automated Clearing House (ACH) transactions, ultimately enhancing the acceptance, utilization, and quality of electronic transactions.
Is The New England Automated Clearing House Association legitimate?
The New England Automated Clearing House Association is a legitimate nonprofit organization registered as a 501(c)(6) entity. The New England Automated Clearing House Association 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: $760,549
Professional Fundraising Fees: $0
Other Salaries and Wages: $702,790
For more financial information, click here
What is the mission statement of The New England Automated Clearing House Association?
The New England Automated Clearing House Association serves as a nonprofit organization, providing assistance to its members in processing Automated Clearing House (ACH) transactions. Its primary objective is to enhance the acceptance, usage, and quality of electronic transactions through the provision of various products, services, education, and marketing. The association aims to increase the efficiency and reliability of electronic transactions, ultimately benefiting its member financial institutions. As of December 31, 2022, the association's membership included 395 financial institutions and 71 associate members, catering to a significant portion of commercial banks and credit unions in the New England region.
Who is the CEO of The New England Automated Clearing House Association?
Sean Carter is the Director of The New England Automated Clearing House Association. The CEO's salary of The New England Automated Clearing House Association is $276,677 and their total compensation is $332,497.
What is the revenue of The New England Automated Clearing House Association?
The New England Automated Clearing House Association's revenue in 2022 was $3,678,470.
Who are the executives of The New England Automated Clearing House Association and what are their salaries?
The average compensation at The New England Automated Clearing House Association during 2022 was $81,297. There are 18 employees and 81 volunteers at The New England Automated Clearing House Association.
Here are 23 key members and their salaries (The New England Automated Clearing House Association's CEO's salary is $276,677 and their total compensation is $332,497):
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- Compensation: $199,587
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- Other: $40,903
- Compensation: $276,677
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- Other: $55,820
- Compensation: $137,829
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- Compensation: $102,679
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- Compensation: $107,713
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- Other: $14,395
- Compensation: $103,238
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- Other: $21,039
Where can I find the form 990 for The New England Automated Clearing House Association?
The New England Automated Clearing House Association's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of The New England Automated Clearing House Association
The New England Automated Clearing House Association, as a nonprofit organization, is dedicated to aiding its members in the facilitation of Automated Clearing House (ACH) transactions. Its mission is to enhance the acceptance, utilization, and quality of electronic transactions by offering relevant products, services, education, and marketing. By providing these resources, the association aims to increase the efficiency and effectiveness of electronic transactions, benefiting its members considerably. As of December 31, 2022, the association boasts an extensive membership of 395 financial institutions and 71 associate members, serving nearly all commercial banks and thrifts, as well as half of all credit unions in the New England region.
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Impact
October, 2024
The New England Automated Clearing House Association plays a pivotal role in enhancing the efficiency and effectiveness of electronic transactions within the region. By supporting its members in originating and receiving ACH (Automated Clearing House) transactions, the association contributes to the seamless flow of electronic payments across financial institutions.
With a membership that includes 395 financial institutions and 71 associate members, representing 96% of commercial banks and thrifts and 55% of credit unions in New England, the association significantly influences the landscape of electronic payments. It provides essential products and services that foster the adoption and improvement of these transactions, leading to increased reliability and usability.
Additionally, the association focuses on education and marketing to bolster the understanding and acceptance of electronic transaction technologies. This commitment enhances the quality of financial services available to consumers and businesses alike, thereby promoting greater economic efficiency and accessibility in the region. Overall, the New England Automated Clearing House Association is instrumental in advancing electronic transaction practices, ultimately benefiting the entire financial ecosystem in New England.
This information is meant to be a general summary of The New England Automated Clearing House Association. 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: $13,732
- Program Service Revenue: $3,175,463
- Gross Receipts: $3,678,470
Assets and Liabilities:
- Total Assets: $4,748,428
- Total Liabilities: $544,743
- Net Assets: $4,203,685
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
NEACH TRANSACTION FEES
Revenue
$2,515,631
CONFERENCES MEETINGS
Revenue
$446,910
SALES OF PUBLICATIONS
Revenue
$208,653
SHIPPING & HANDLING
Revenue
$4,269
Organization Details
Founding Year
1972
Phone
(781) 321-1011Principal Officer
Sean Carter
Main Address
35 CORPORATE DRIVE 190, BURLINGTON, MA, 018034244
NTEE Category
Code: W60 - Public benefit
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