Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: CONVENTION FEES

  total $1,292,954 · related or exempt $1,292,954

• 2b · Program service revenue: MEMBER DUES

  total $734,901 · related or exempt $734,901

• 2c · Program service revenue: SPONSORSHIPS

  total $315,775 · excluded $315,775

• 3 · Investment income

  total $368,383 · excluded $368,383

• 6a · Gross rents

  real property $97,751

• 6b · Less rental expenses

  real property $25,419

• 6c · Rental income or loss

  real property $72,332

• 6d · Net rental income or loss

  total $72,332 · unrelated business $72,332

• 11d · All other revenue

  total $109,795 · excluded $109,795

• 11e · Other revenue, total

  $109,795

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $5,900

• 5 · Compensation of officers, directors and key employees

  total $1,145,572

• 7 · Other salaries and wages

  total $562,795

• 8 · Pension plan contributions

  total $94,267

• 9 · Other employee benefits

  total $212,112

• 10 · Payroll taxes

  total $107,639

• 11b · Fees: legal

  total $4,798

• 11c · Fees: accounting

  total $53,827

• 11d · Fees: lobbying

  total $218,259

• 11f · Fees: investment management

  total $2,500

• 13 · Office expenses

  total $82,780

• 14 · Information technology

  total $8,018

• 16 · Occupancy

  total $127,195

• 17 · Travel

  total $37,902

• 19 · Conferences, conventions and meetings

  total $1,007,209

• 22 · Depreciation, depletion and amortization

  total $168,668

• 23 · Insurance

  total $17,796

• 24a · Other expenses: DUES & SUBSCRIPTIONS

  total $38,603

• 24b · Other expenses: FUTURE BUSINESS LEADERS

  total $31,070

• 24c · Other expenses: INCOME TAXES

  total $14,959

• 24e · All other expenses

  total $75,866

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $444,732 · end of year $117,830

• 2 · Savings and temporary cash investments

  beginning of year $1,806,544 · end of year $1,596,874

• 4 · Accounts receivable

  beginning of year $49,215 · end of year $24,764

• 7 · Other notes and loans receivable

  beginning of year $3,933,558 · end of year $4,110,297

• 9 · Prepaid expenses and deferred charges

  beginning of year $94,181 · end of year $183,770

• 10a · Land, buildings and equipment: cost or other basis

  $2,992,885

• 10b · Land, buildings and equipment: accumulated depreciation

  $2,015,832

• 10c · Land, buildings and equipment, net

  beginning of year $1,111,220 · end of year $977,053

• 11 · Investments: publicly traded securities

  beginning of year $3,464,895 · end of year $4,001,507

• 12 · Investments: other securities

  beginning of year $7,724,742 · end of year $7,818,209

• 15 · Other assets

  beginning of year $1,475,433 · end of year $1,850,393

• 17 · Accounts payable and accrued expenses

  beginning of year $175,162 · end of year $251,071

• 19 · Deferred revenue

  beginning of year $374,735 · end of year $211,191

• 27 · Net assets without donor restrictions

  beginning of year $19,554,623 · end of year $20,218,435

The filer's explanations (Part III)

PART I, LINE 1A

THE NORTH CAROLINA BANKERS ASSOCIATION PAYS CERTAIN CLUB DUES OF THE PRESIDENT OF THE ORGANIZATION. THESE CLUB MEMBERSHIPS ARE TYPICALLY USED FOR ASSOCIATION BUSINESS PURPOSES ONLY. SHOULD ANY PERSONAL USE OCCUR, THE PRESIDENT WOULD REIMBURSE THE ASSOCIATION FOR THE VALUE OF SUCH USAGE. THE NORTH CAROLINA BANKERS ASSOCIATION ALSO PAYS THE TRAVEL EXPENSES FOR THE PRESIDENT AND COMPANION ON VISITS TO FUTURE CONVENTION AND MEETING VENUES. THERE IS TYPICALLY A BUSINESS PURPOSE FOR COMPANION TRAVEL.

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 BANKER SERVICES INC

  C · FINANCIAL SERVICES · NC · 100% owned · share of income $2,015,897 · share of assets $1,991,388 · controlled entity

  Directly controlled by NORTH CAROLINA BANKERS ASSOCIATION

• CENTRANT COMMUNITY CAPITAL

  C · FINANCIAL SERVICES · NC · 100% owned · share of income $2,445,059 · share of assets $6,404,775 · controlled entity

  Directly controlled by NORTH CAROLINA BANKERS ASSOCIATION