Overview
What is Iowa Bankers Association?
The Iowa Bankers Association is a nonprofit organization situated in Johnston, Iowa. Its primary goal is to support and enhance the banking sector within the state. This is accomplished through various initiatives, such as providing educational programs, developing financing methods, advocating for safety measures, collaborating with regulatory agencies, disseminating relevant information, promoting banking as a career, and monitoring banking practices. Furthermore, the association encourages community development, fosters relationships with communities, supports uniformity in banking laws, and offers services to banks on a nonprofit basis. Overall, the Iowa Bankers Association aims to improve banking in Iowa by addressing its members' needs and fostering a sense of unity among Iowa banks.
Is Iowa Bankers Association legitimate?
Iowa Bankers Association is a legitimate nonprofit organization registered as a 501(c)(6) entity. Iowa Bankers 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.
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For more financial information, click here
What is the mission statement of Iowa Bankers Association?
The Iowa Bankers Association was established with a mission to improve and promote the overall wellbeing and utility of banking and savings institutions within Iowa. Their objective is to enhance business conditions for Iowa banks and bankers, and they achieve this through various means such as providing continuing education programs, improving financing methods, promoting bank safety, and collaborating with regulatory agencies. The association also aims to disseminate valuable information for the enactment and administration of banking laws, promote banking as a career, and assist in banking services. Moreover, they establish research facilities, encourage community development, and foster good relationships between banks and their communities. The Iowa Bankers Association offers services to banks on a non-profit basis and encourages bankers' participation in association committees to enhance their services.
Who is the CEO of Iowa Bankers Association?
John Sorensen is the Secretary of Iowa Bankers Association.
What is the revenue of Iowa Bankers Association?
Iowa Bankers Association's revenue in 2022 was $2,965,151.
Who are the executives of Iowa Bankers Association and what are their salaries?
Here are 19 key members and their salaries:
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Where can I find the form 990 for Iowa Bankers Association?
Iowa Bankers Association's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Iowa Bankers Association
The Iowa Bankers Association, established with a mission to promote and enhance banking in the state, is dedicated to improving the general welfare and business conditions of banking and thrift institutions in Iowa. The organization aims to achieve this goal by providing continuing education programs, designing and improving financing methods, promoting the safety of banks and their employees, and fostering cooperation with regulatory agencies. It also works to furnish useful information in the enactment and administration of banking laws, and encourages the use of commercial banks and savings institutions as a wise choice.
Furthermore, the Iowa Bankers Association is dedicated to promoting banking as a career and monitoring Iowa bank practices and procedures. It assists banks with preparing new banking developments and encourages banks to participate in community development. The association also strives to establish research facilities, promote relationships of trust and mutual confidence between banks and their communities, and encourage uniformity and interpretation of customs and laws affecting banking institutions. Additionally, it provides services to banks directly or indirectly on a nonprofit basis and encourages participation by Iowa bankers in association committees.
In essence, the Iowa Bankers Association serves as a catalyst for the growth and improvement of banking in Iowa, working to enhance the business conditions for banks and bankers, while also promoting safety, education, and community involvement.
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Impact
October, 2024
The Iowa Bankers Association (IBA) plays a crucial role in strengthening the banking sector in Iowa by promoting the welfare and usefulness of banks and banking institutions throughout the state. Its impact is evident in several key areas:
1. **Education and Training**: IBA offers continuing education programs that equip banking professionals with essential skills and knowledge, ensuring they remain competitive and effective in their roles.
2. **Improving Business Conditions**: By designing and developing innovative financing methods, IBA enhances operational efficiency and overall business conditions for Iowa banks.
3. **Safety and Regulation**: The association promotes the safety of Iowa banks and their employees, while also fostering relationships with Iowa and federal regulatory agencies to ensure compliance and guidance in banking practices.
4. **Community Development**: IBA encourages banks to actively participate in community development initiatives, fostering trust and mutual confidence between banks and the communities they serve.
5. **Promotion of Banking Careers**: The association advocates for banking as a viable career choice, helping to attract new talent to the industry.
6. **Research and Development**: IBA establishes research facilities that aid banks in implementing new developments and innovations in banking services, thus driving the industry forward.
7. **Publications and Advocacy**: Through publishing and distribution of informative materials, IBA promotes the benefits of using commercial banks and savings institutions, encouraging local patronage.
8. **Networking and Collaboration**: By coordinating committees and encouraging participation among Iowa bankers, IBA fosters good fellowship and collaboration, enhancing the overall effectiveness of the banking community.
In summary, the Iowa Bankers Association significantly contributes to the stability, growth, and community involvement of Iowa’s banking sector, ultimately bolstering the financial landscape of the state.
This information is meant to be a general summary of Iowa Bankers 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: $427,862
- Program Service Revenue: $2,537,289
- Gross Receipts: $5,763,466
Assets and Liabilities:
- Total Assets: $14,839,463
- Total Liabilities: $1,989,517
- Net Assets: $12,849,946
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Membership Dues
Revenue
$2,537,120
Issue Advocacy Support
Revenue
$169
Organization Details
Founding Year
1887
Phone
(515) 286-4300Principal Officer
John Sorensen
Main Address
8901 Northpark Drive PO Box 6200, Johnston, IA, 501316200
NTEE Category
Code: S41 - Community improvement
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