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Nonprofiteer
← BAFT INC

Form 990 for tax year 2024

Filed by BAFT INC.

Totals

Total revenue
$5,432,954
Total expenses
$5,036,154
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$5,432,954
Investment income
$0
Other revenue
$0
Total assets, end of year
$3,100,202
Total liabilities, end of year
$1,475,123
Net assets or fund balances, end of year
$1,625,079
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: CONFERENCE/CONVENTION

    total $2,928,897 · related or exempt $1,623,702 · excluded $1,305,195

  • 2b · Program service revenue: MEMBERSHIP DUES

    total $2,443,750 · related or exempt $2,443,750

  • 2c · Program service revenue: OTHER PROGRAMS

    total $60,307 · related or exempt $60,307

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $546,372

  • 7 · Other salaries and wages

    total $1,550,676

  • 8 · Pension plan contributions

    total $196,207

  • 9 · Other employee benefits

    total $175,378

  • 10 · Payroll taxes

    total $132,260

  • 11b · Fees: legal

    total $83,528

  • 11c · Fees: accounting

    total $6,972

  • 11g · Fees: other

    total $635,800

  • 12 · Advertising and promotion

    total $3,135

  • 13 · Office expenses

    total $69,348

  • 14 · Information technology

    total $239,862

  • 16 · Occupancy

    total $44,389

  • 17 · Travel

    total $225,967

  • 19 · Conferences, conventions and meetings

    total $860,170

  • 23 · Insurance

    total $6,694

  • 24a · Other expenses: OVERHEAD

    total $181,134

  • 24b · Other expenses: TRAINING COURSE CONTENT

    total $35,381

  • 24c · Other expenses: TAXES & LICENSES

    total $10,050

  • 24d · Other expenses: MEMBERSHIP DUES

    total $6,100

  • 24e · All other expenses

    total $26,731

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    end of year $1,775,080

  • 4 · Accounts receivable

    beginning of year $18,900 · end of year $7,306

  • 9 · Prepaid expenses and deferred charges

    beginning of year $48,065 · end of year $63,807

  • 15 · Other assets

    beginning of year $2,008,025 · end of year $1,254,009

  • 17 · Accounts payable and accrued expenses

    beginning of year $73,164 · end of year $5,840

  • 19 · Deferred revenue

    beginning of year $773,547 · end of year $1,469,283

  • 27 · Net assets without donor restrictions

    beginning of year $1,228,279 · end of year $1,625,079

Mission and programs · 2024

Mission

SEE SCHEDULE OBAFT IS THE LEADING GLOBAL INDUSTRY ASSOCIATION FOR INTERNATIONAL TRANSACTION BANKING. IT HELPS BRIDGE SOLUTIONS ACROSS FINANCIAL INSTITUTIONS, SERVICE PROVIDERS AND THE REGULATORY COMMUNITY THAT PROMOTE SOUND FINANCIAL PRACTICES ENABLING INNOVATION, EFFICIENCY, AND COMMERCIAL GROWTH.

Activities or mission (Part I)

ASSOCIATION FOR ORGANIZATIONS ACTIVELY ENGAGED IN INTERNATIONAL TRANSACTION BANKING.

  • CONFERENCES/WORKSHOPS:PROVIDE THOUGHT LEADERSHIP AND EDUCATIONAL SESSIONS TO THOSE INVOLVED IN TRANSACTION BANKING TO KEEP THEM ABREAST OF THE LATEST ISSUES AND CHALLENGES FACING THE INDUSTRY. APPROXIMATELY 10 CONFERENCES AND WORKSHOPS WERE HELD IN-PERSON, VIRTUAL, AND HYBRID FORMATS. IN-PERSON/HYBRID EVENTS WERE OFFERED IN SEVERAL CITIES AND REGIONS ACROSS THE GLOBE, ALLOWING FOR BILATERAL MEETINGS AND NETWORKING AMONG ATTENDEES.

  • MEMBERSHIPTHE FOLLOWING ITEMS ARE INCLUDED WITH MEMBERSHIP TO ENHANCE CURRENT KNOWLEDGE AND INFORMATION SHARING: - PARTICIPATE IN COUNCILS AND COMMITTEES WHERE MEMBERS SHARE BEST PRACTICES AND SHARE IDEAS, ADDRESS CHALLENGES, DEVELOP AND PARTICIPATE IN WORKING GROUPS- QUARTERLY NEWSLETTER UPDATES - MEMBERSHIP DIRECTORY- PERIODIC WEBINARS ON TOPICS OF INTEREST- ACCESS TO BEST PRACTICE DOCUMENTS, STANDARD TRADE AGREEMENTS, POLICY DOCUMENTS AND COMMENT LETTERS, AND RECORDED WEBINARS

  • EDUCATION AND TRAININGA VARIETY OF ON-DEMAND ONLINE EDUCATION CERTIFICATE PROGRAMS RELATED TO TRADE FINANCE, TRANSACTION BANKING, AND CASH MANAGEMENT AIMED AT A VARIETY OF PROFILES AND LEVELS OF EXPERTISE WITHIN THE BANKING INDUSTRY AND CORPORATES INVOLVED IN TRANSACTION BANKING ARE OFFERED. ADDITIONAL CUSTOM TRAINING SOLUTIONS (VIRTUAL OR IN-PERSON) ARE OFFERED ON TRANSACTION BANKING-RELATED TOPICS PER REQUEST OF BANKS AND OR PROVIDERS IN THE TRANSACTION BANKING SPACE.

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Tod Burwell

    PRESIDENT & CEO

    Total calculated
    $502,661
    From this org
    $0
    From related orgs
    $442,093
    Other
    $60,568
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $0 + $364,575 related
    Bonus
    $0 + $73,125 related
    Other
    $0 + $4,393 related
    Deferred
    $0 + $41,400 related
    Nontaxable benefits
    $0 + $19,168 related
    Filer's total
    $0 + $502,661 related
  • Suresh Subramanian

    CHAIR UNTIL MAY 2025

    Total calculated
    $0
    Hours/week
    1
  • Nick Smit

    CHAIR FROM MAY 2025

    Total calculated
    $0
    Hours/week
    1
  • Maramal-Jazireh

    PAST CHAIR UNTIL MAY 2025

    Total calculated
    $0
    Hours/week
    1
  • Michelle Knowles

    VICE CHAIR FROM MAY 2025

    Total calculated
    $0
    Hours/week
    1
  • Miriam Ratkovicova

    SECRETARY/TREASURER FROM MAY 2025

    Total calculated
    $0
    Hours/week
    1
  • Alice Azevedo

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Amy Sahm

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Andy Arduini

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Ashutosh Kumar

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Ayaz Kamlani

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Brian Gordon

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Dean Sposito

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Derryn Faure

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Dyanne Carenza

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Eddy Almonte

    BOARD MEMBER UNTIL MAY 2025

    Total calculated
    $0
    Hours/week
    1
  • Esther Galiana

    BOARD MEMBER UNTIL MAY 2025

    Total calculated
    $0
    Hours/week
    1
  • George Lee

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Inna Gogoua

    BOARD MEMBER UNTIL MAY 2025

    Total calculated
    $0
    Hours/week
    1
  • Jean Francois Mazure

    BOARD MEMBER UNTIL MAY 2025

    Total calculated
    $0
    Hours/week
    1
  • Jenni Himberg-Wild

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1
  • John Kinyangi

    BOARD MEMBER UNTIL JULY 2025

    Total calculated
    $0
    Hours/week
    1
  • Julie Patterson

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Mark Doctoroff

    BOARD MEMBER UNTIL MAY 2025

    Total calculated
    $0
    Hours/week
    1
  • Maurice Iskandar

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Mike Kategaris

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Oscar Sanz-Paris

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Paolo Muzzarelli

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Patrick Devilbiss

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Patrik Havander

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Peter Zotos

    BOARD MEMBER UNTIL MAY 2025

    Total calculated
    $0
    Hours/week
    1
  • Priyamvada Singh

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Rana Beydoun

    BOARD MEMBER UNTIL NOVERMBER 2024

    Total calculated
    $0
    Hours/week
    1
  • Ricardo Velazques

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Robert Hostler

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Rogier Van Lammeren

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Sabry Salman

    BOARD MEMBER UNTIL MAY 2025

    Total calculated
    $0
    Hours/week
    1
  • Sriram Muthukrishnan

    BOARD MEMBER UNTIL NOVERMBER 2024

    Total calculated
    $0
    Hours/week
    1
  • Thomas Lickiss

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Karin Petersen Flynn

    CFAO

    Total calculated
    $780,798
    From this org
    $0
    From related orgs
    $656,638
    Other
    $124,160
    Hours/week
    1 + 36.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $529,085 related
    Bonus
    $0 + $108,035 related
    Other
    $0 + $19,518 related
    Deferred
    $0 + $78,217 related
    Nontaxable benefits
    $0 + $45,943 related
    Filer's total
    $0 + $780,798 related
  • Deepa Sinha

    SVP, PAYMENTS AND FINANCIAL CRIME

    Total calculated
    $291,871
    From this org
    $0
    From related orgs
    $250,158
    Other
    $41,713
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $0 + $224,917 related
    Bonus
    $0 + $23,450 related
    Other
    $0 + $1,791 related
    Deferred
    $0 + $30,047 related
    Nontaxable benefits
    $0 + $11,666 related
    Filer's total
    $0 + $291,871 related
  • Nancy Monahan

    SENIOR DIRECTOR, MEMBERSHIP

    Total calculated
    $141,314
    From this org
    $0
    From related orgs
    $126,262
    Other
    $15,052
    Hours/week
    37.5
  • Kathryn Hoch

    SENIOR DIRECTOR, EVENTS & PROGRAMS

    Total calculated
    $157,514
    From this org
    $0
    From related orgs
    $124,861
    Other
    $32,653
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $0 + $112,436 related
    Bonus
    $0 + $10,598 related
    Other
    $0 + $1,827 related
    Deferred
    $0 + $15,514 related
    Nontaxable benefits
    $0 + $17,139 related
    Filer's total
    $0 + $157,514 related
  • Daniel Pinho

    VP, OPERATIONS AND BUSINESS MNGMT

    Total calculated
    $244,868
    From this org
    $0
    From related orgs
    $218,680
    Other
    $26,188
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $0 + $201,947 related
    Bonus
    $0 + $15,039 related
    Other
    $0 + $1,694 related
    Deferred
    $0 + $26,038 related
    Nontaxable benefits
    $0 + $150 related
    Filer's total
    $0 + $244,868 related
  • Arlene Sanchez

    VP, MARKETING AND EVENTS

    Total calculated
    $254,196
    From this org
    $0
    From related orgs
    $210,966
    Other
    $43,230
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $0 + $188,957 related
    Bonus
    $0 + $19,692 related
    Other
    $0 + $2,317 related
    Deferred
    $0 + $25,809 related
    Nontaxable benefits
    $0 + $17,421 related
    Filer's total
    $0 + $254,196 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

PART I, LINE 4B
THE AMERICAN BANKERS ASSOCIATION, A RELATED ORGANIZATION, PROVIDES NON-QUALIFIED RETIREMENT BENEFITS TO THE EXECUTIVE LEADERSHIP DESIGNED AS BENEFIT RESTORATION. KARIN PETERSEN FLYNN PARTICIPATED IN SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN WITH ACCRUED PRESENT VALUE ESTIMATED BENEFITS FOR THE YEAR: $36.817.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • ABA CARD SOLUTIONS INC

    C · BUSINESS SERVICES · DE

Provenance

Return type
form_990
Tax year
2024
Filed
9 July 2026
IRS schema version
2024v5.5
Source object
202601949349300830

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