Form 990 for tax year 2025

Revenue

Part VIII, the statement of revenue.

• 1f · All other contributions, gifts and grants

  $209,485

• 3 · Investment income

  total $176,350 · excluded $176,350

• 7a · Gross sales of assets other than inventory

  securities $90,850

• 7b · Less cost or other basis and sales expenses

  securities $49,459

• 7c · Gain or loss

  securities $41,391

• 7d · Net gain or loss

  total $41,391 · excluded $41,391

• 11a · Other revenue: RETURNED FUNDS

  total $20,652 · excluded $20,652

• 11e · Other revenue, total

  $20,652

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $59,144 · program services $59,144

• 13 · Office expenses

  total $746 · management and general $746

• 17 · Travel

  total $3,022 · program services $3,022

• 24a · Other expenses: SHARED SERVICES

  total $159,250 · program services $159,250

• 24b · Other expenses: HURRICANE AFTERMATH VID

  total $13,800 · program services $13,800

• 24c · Other expenses: BANK FEES

  total $199 · program services $199

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,484,866 · end of year $1,379,695

• 2 · Savings and temporary cash investments

  beginning of year $2,476,993 · end of year $2,567,896

• 4 · Accounts receivable

  beginning of year $59,287 · end of year $24,696

• 11 · Investments: publicly traded securities

  beginning of year $1,471,364 · end of year $1,710,305

• 17 · Accounts payable and accrued expenses

  beginning of year $15,961 · end of year $2,876

• 25 · Other liabilities

  beginning of year $161,544 · end of year $0

• 27 · Net assets without donor restrictions

  beginning of year $2,909,383 · end of year $3,271,000

• 28 · Net assets with donor restrictions

  beginning of year $2,405,622 · end of year $2,408,716

The filer's explanations (Part III)

PART I, LINE 3

THE RELATED ORGANIZATION RELIES ON A COMPENSATION COMMITTEE, THE FORM 990 OF OTHER ORGANIZATIONS, A WRITTEN EMPLOYEMENT CONTRACT AND APPROVAL BY THE BOARD TO ESTABLISH COMPENSATION OF THE CEO.

PART I, LINE 4B

PETER GWALTNEY, PRESIDENT, PARTICIPATED IN A SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN 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-UPON 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.

Related corporations and trusts

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

• COMMUNITY BANK SERVICES INC

  C · FINANCIAL SERVICES · NC

  Directly controlled by NORTH CAROLINA BANKERS ASSOCIATION

• CENTRANT COMMUNITY CAPITAL INC

  C · FINANCIAL SERVICES · NC

  Directly controlled by NORTH CAROLINA BANKERS ASSOCIATION