Form 990 for tax year 2022
Filed by NORTH CAROLINA BANKERS ASSOCIATION FOUNDATION.
Totals
- Total revenue
- $86,476
- Total expenses
- $63,150
- Contributions and grants received
- $38,212
- Grants paid
- $63,150
- Program service revenue
- $0
- Investment income
- $48,264
- Other revenue
- $0
- Total assets, end of year
- $4,857,905
- Total liabilities, end of year
- $0
- Net assets or fund balances, end of year
- $4,857,905
- Program services expenses (Part IX)
- $63,150
- Management and general expenses
- $0
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $63,150
Program services were 100.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
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.
-
1f · All other contributions, gifts and grants
$38,212
-
3 · Investment income
total $48,264 · excluded $48,264
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $33,150 · program services $33,150
-
2 · Grants to domestic individuals
total $30,000 · program services $30,000
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $2,195,963 · end of year $2,049,483
-
2 · Savings and temporary cash investments
beginning of year $1,509,434 · end of year $1,640,061
-
4 · Accounts receivable
beginning of year $4,359 · end of year $7,396
-
9 · Prepaid expenses and deferred charges
end of year $6,000
-
11 · Investments: publicly traded securities
beginning of year $1,374,919 · end of year $1,154,965
-
27 · Net assets without donor restrictions
beginning of year $535,827 · end of year $315,872
-
28 · Net assets with donor restrictions
beginning of year $4,548,848 · end of year $4,542,033
Mission and programs · 2022
Mission
THE CORPORATION'S PRIMARY PURPOSES INCLUDE: (1) MAKING SCHOLARSHIP GRANTS TO QUALIFIED RESIDENTS OF NORTH CAROLINA; (2) MAKING FUNDS AVAILABLE TO ANY PERSON OR ENTITY IN ORDER TO EDUCATE THE PUBLIC REGARDING FINANCIAL LITERACY, BANKING AND FINANCE LAWS, OR CONSUMER PROTECTION; AND (3) DISTRIBUTING FUNDS TO FULL OR PART-TIME BANK EMPLOYEES WITH IMMEDIATE NEEDS WHO LIVE IN AN AREA WHERE A CURRENT OR FUTURE DISASTER HAS BEEN DESIGNATED AND WHO HAVE SUSTAINED SIGNFICANT PROPERTY DAMAGE OR EXPENSES AS A RESULT OF THE DISASTER.
Activities or mission (Part I)
FOCUSED ON AND COMMITTED TO THE PERSONAL, PROFESSIONAL AND FINANCIAL SUCCESS OF NORTH CAROLINA'S NEXT GENERATION.
-
THE FOUNDATION FUNDS CAMP CHALLENGEGE, A CAMP FOR HIGH-ACHIEVING, AT-RISK MIDDLE SCHOOL STUDENTS WITH A HEAVY EMPHASIS ON FINANCIAL LITERACY.
Expenses $33,150 · Grants $33,150
-
THE NC BANKERS ASSOCIATION FOUNDATION AWARDS FINANCIAL STIPENDS FOR COLLEGE TUITION TO THE CHILDREN OF THE EMPLOYEES OF FINANCIAL INSTITUTIONS IN NORTH CAROLINA.
Expenses $30,000 · Grants $30,000
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Peter GwaltneyPETER GWALTNEY
PRESIDENT & CEO
- Total calculated
- $652,754
- From this org
- $0
- From related orgs
- $603,033
- Other
- $49,721
- Hours/week
- 10 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $468,674 related
- Bonus
- $0 + $130,000 related
- Other
- $0 + $4,359 related
- Deferred
- $0 + $33,550 related
- Nontaxable benefits
- $0 + $16,171 related
- Filer's total
- $0 + $652,754 related
-
Mary WillisMARY WILLIS
CHAIR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Jim HansenJIM HANSEN
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Charles FrederickCHARLES FREDERICK
IMMEDIATE PAST CHAIRMAN (TO JUN '22)
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Jim SillsJIM SILLS
IMMEDIATE PAST CHAIRMAN
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
David AllenDAVID ALLEN
DIRECTOR (FROM JUN '22)
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Juan AustinJUAN AUSTIN
DIRECTOR (FROM JUN '22)
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Mike AtkinsonMIKE ATKINSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
David BarksdaleDAVID BARKSDALE
DIRECTOR (FROM JUN '22)
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Kyle ChavisKYLE CHAVIS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Stephen CollieSTEPHEN COLLIE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Lee FiteLEE FITE
DIRECTOR (TO JUN '22)
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Robin HagerROBIN HAGER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Amanda LloydAMANDA LLOYD
DIRECTOR (FROM JUN '22)
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Lance SellersLANCE SELLERS
DIRECTOR (TO JUN '22)
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Brant StandbridgeBRANT STANDBRIDGE
DIRECTOR (TO MAR '22)
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Gregg StraderGREGG STRADER
DIRECTOR (TO JUN '22)
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Caroline TaylorCAROLINE TAYLOR
DIRECTOR (FROM JUN '22)
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Bob WashburnBOB WASHBURN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Ted WhitehurstTED WHITEHURST
DIRECTOR (TO JUN '22)
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Jeff WhittingtonJEFF WHITTINGTON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Lynn JohnsonLYNN JOHNSON
COO/EVP (FROM JUN '22)
- Total calculated
- $208,491
- From this org
- $0
- From related orgs
- $188,744
- Other
- $19,747
- Hours/week
- 10 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $138,677 related
- Bonus
- $0 + $50,000 related
- Other
- $0 + $67 related
- Deferred
- $0 + $11,250 related
- Nontaxable benefits
- $0 + $8,497 related
- Filer's total
- $0 + $208,491 related
-
Stephanie TuckerSTEPHANIE TUCKER
CFO/SVP (FROM FEB '22)
- Total calculated
- $206,420
- From this org
- $0
- From related orgs
- $186,353
- Other
- $20,067
- Hours/week
- 10 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $165,000 related
- Bonus
- $0 + $14,400 related
- Other
- $0 + $6,953 related
- Deferred
- $0 + $18,728 related
- Nontaxable benefits
- $0 + $1,339 related
- Filer's total
- $0 + $206,420 related
-
Grace SampsonGRACE SAMPSON
CORPORATE SECRETARY/SVP
- Total calculated
- $220,518
- From this org
- $0
- From related orgs
- $186,263
- Other
- $34,255
- Hours/week
- 10 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $167,850 related
- Bonus
- $0 + $16,800 related
- Other
- $0 + $1,613 related
- Deferred
- $0 + $19,493 related
- Nontaxable benefits
- $0 + $14,762 related
- Filer's total
- $0 + $220,518 related
-
Nathan BattsNATHAN BATTS
COUNSEL/SVP
- Total calculated
- $240,229
- From this org
- $0
- From related orgs
- $204,038
- Other
- $36,191
- Hours/week
- 10 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $184,962 related
- Bonus
- $0 + $18,500 related
- Other
- $0 + $576 related
- Deferred
- $0 + $21,460 related
- Nontaxable benefits
- $0 + $14,731 related
- Filer's total
- $0 + $240,229 related
-
Blair JerniganBLAIR JERNIGAN
EVENT MGMT/SVP
- Total calculated
- $182,492
- From this org
- $0
- From related orgs
- $149,739
- Other
- $32,753
- Hours/week
- 10 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $134,875 related
- Bonus
- $0 + $14,500 related
- Other
- $0 + $364 related
- Deferred
- $0 + $16,828 related
- Nontaxable benefits
- $0 + $15,925 related
- Filer's total
- $0 + $182,492 related
-
Diane BaldwinDIANE BALDWIN
VICE PRESIDENT, CONTROLLER
- Total calculated
- $138,890
- From this org
- $0
- From related orgs
- $117,007
- Other
- $21,883
- Hours/week
- 10 + 40 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
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
The filer's explanations (Part III)
- PART I, LINE 4B
- PETER GWALTNEY, PRESIDENT, PARTICIPATED IN A SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN WITH RESPECT TO THE ASSOCIATION (A RELATED ORGANIZATION) DURING THE YEAR. THE ASSOCIATION MAKES ANNUAL CONTRIBUTIONS TO A LIFE INSURANCE POLICY WHICH IT OWNS AND IS THE BENEFICIARY OF. IF MR. GWALTNEY REMAINS IN THE SERVICE OF THE ASSOCIATION THROUGH AN AGREED-UPO N RETIREMENT DATE, OWNERSHIP OF THE POLICY, SUBJECT TO A PARTIAL ASSIGNMENT OF THE DEATH BENEFIT TO THE ASSOCIATION (TO PAY BACK POLICY PREMIUMS MADE BY THE ASSOCIATION), WILL BE TRANSFERRED TO MR. GWALTNEY ON THE RETIREMENT DATE.
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
-
$33,150
TO HELP SUSTAIN THE OPERATIONS OF CAMP WEAVER
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.
-
NORTH CAROLINA BANKERS ASSOCIATION
501(C)(6) · TO CARRY OUT GENERAL PURPOSES OF FINANCIAL INSTITUTION OPERATING IN NORTH CA · NC
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.
-
COMMUNITY BANK SERVICES INC
C · CONDUCT ACTIVITIES OFFERED TO THE BANKERS ASSOCIATION · NC
-
CENTRANT COMMUNITY CAPITAL
C · PROVIDE FINANCING FOR LOW AND MODERATE INCOME HOUSING · NC
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 2 November 2023
- IRS schema version
- 2022v5.0
- Source object
- 202343069349301789
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