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Nonprofiteer
← BAFT INC

Form 990 for tax year 2022

Filed by BAFT INC.

Totals

Total revenue
$4,717,556
Total expenses
$3,874,664
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$4,717,556
Investment income
$0
Other revenue
$0
Total assets, end of year
$1,270,229
Total liabilities, end of year
$809,091
Net assets or fund balances, end of year
$461,138
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: MEMBERSHIP DUES

    total $2,394,464 · related or exempt $2,394,464

  • 2b · Program service revenue: CONFERENCE/CONVENTION

    total $2,278,192 · related or exempt $1,287,526 · excluded $990,666

  • 2c · Program service revenue: OTHER PROGRAMS

    total $44,900 · related or exempt $44,900

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $437,106

  • 7 · Other salaries and wages

    total $1,127,171

  • 9 · Other employee benefits

    total $348,726

  • 10 · Payroll taxes

    total $97,876

  • 11c · Fees: accounting

    total $6,450

  • 11g · Fees: other

    total $408,325

  • 12 · Advertising and promotion

    total $14,340

  • 13 · Office expenses

    total $60,585

  • 14 · Information technology

    total $263,018

  • 16 · Occupancy

    total $200,682

  • 17 · Travel

    total $147,479

  • 19 · Conferences, conventions and meetings

    total $588,658

  • 24a · Other expenses: OVERHEAD

    total $209,133

  • 24b · Other expenses: TRAINING COURSE CONTENT

    total $49,318

  • 24c · Other expenses: MEMBERSHIP DUES

    total $5,550

  • 24e · All other expenses

    total -$89,753

Balance sheet

Part X, book values.

  • 4 · Accounts receivable

    beginning of year $122,015 · end of year $54,375

  • 9 · Prepaid expenses and deferred charges

    beginning of year $39,685 · end of year $17,632

  • 15 · Other assets

    beginning of year $39,975 · end of year $1,198,222

  • 17 · Accounts payable and accrued expenses

    beginning of year $64,952 · end of year $69,744

  • 19 · Deferred revenue

    beginning of year $317,187 · end of year $739,347

  • 25 · Other liabilities

    beginning of year $201,290 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year -$381,754 · end of year $461,138

Mission and programs · 2022

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 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 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • TOD BURWELL

    PRESIDENT & CEO

    Total calculated
    $437,106
    From this org
    $0
    From related orgs
    $384,979
    Other
    $52,127
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $0 + $334,867 related
    Bonus
    $0 + $43,000 related
    Other
    $0 + $7,112 related
    Deferred
    $0 + $36,600 related
    Nontaxable benefits
    $0 + $15,527 related
    Filer's total
    $0 + $437,106 related

  • SURESH SUBRAMANIAN

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • MARAM AL-JAZIREH

    PAST CHAIR

    Total calculated
    $0
    Hours/week
    1

  • NICK SMIT

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • MARK GARFIELD

    PAST CHAIR UNTIL 05/23

    Total calculated
    $0
    Hours/week
    1

  • MICHELLE KNOWLES

    SECRETARY/TREASURER

    Total calculated
    $0
    Hours/week
    1

  • AARON ZYNCZAK

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • AMY SAHM

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • ANJALI SHAH

    BOARD MEMBER FROM 05/23

    Total calculated
    $0
    Hours/week
    1

  • AYAZ KAMLANI

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • BRIAN GORDON

    BOARD MEMBER FROM 05/23

    Total calculated
    $0
    Hours/week
    1

  • DARRYL HENDRICKS

    BOARD MEMBER FROM 05/23

    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

    Total calculated
    $0
    Hours/week
    1

  • GEORGE LEE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • JEAN FRANCOIS MAZURE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • JOHN KINYANGI

    BOARD MEMBER FROM 05/23

    Total calculated
    $0
    Hours/week
    1

  • JULIE PATTERSON

    BOARD MEMBER FROM 05/23

    Total calculated
    $0
    Hours/week
    1

  • KARIN WALCHSHOFER

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • MARK DOCTOROFF

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • MAURICE ISKANDAR

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • MIRIAM RATKOVICOVA

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • PATRIK HAVANDER

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • PETER ZOTOS

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • RANA BEYDOUN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • ROBERT HOSTLER

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • ROBERT MANCINI

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • SABRY SALMAN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • SRIRAM MUTHIKRISHNAN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • STEVE LOTITO

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • RUSSELL BROWN

    BOARD MEMBER UNTIL 05/23

    Total calculated
    $0
    Hours/week
    1

  • ANDREAS MELETIOUS

    BOARD MEMBER UNTIL 03/23

    Total calculated
    $0
    Hours/week
    1

  • TARIK MUZZAFAR

    BOARD MEMBER UNTIL 05/23

    Total calculated
    $0
    Hours/week
    1

  • KARIN PETERSEN FLYNN

    CHIEF FINANCIAL OFFICER

    Total calculated
    $751,774
    From this org
    $0
    From related orgs
    $648,376
    Other
    $103,398
    Hours/week
    1 + 36.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $488,625 related
    Bonus
    $0 + $148,000 related
    Other
    $0 + $11,751 related
    Deferred
    $0 + $77,148 related
    Nontaxable benefits
    $0 + $26,250 related
    Filer's total
    $0 + $751,774 related

  • DESHAWN HAYNES

    VP, OPERATIONS & BUSINESS TO 01/23

    Total calculated
    $182,481
    From this org
    $0
    From related orgs
    $162,060
    Other
    $20,421
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $0 + $150,764 related
    Bonus
    $0 + $10,200 related
    Other
    $0 + $1,096 related
    Deferred
    $0 + $19,478 related
    Nontaxable benefits
    $0 + $943 related
    Filer's total
    $0 + $182,481 related

  • ARLENE SANCHEZ

    VP MARKETING AND EVENTS

    Total calculated
    $205,729
    From this org
    $0
    From related orgs
    $174,842
    Other
    $30,887
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $0 + $163,992 related
    Bonus
    $0 + $10,850 related
    Other
    $0
    Deferred
    $0 + $21,262 related
    Nontaxable benefits
    $0 + $9,625 related
    Filer's total
    $0 + $205,729 related

  • SCOTT STEVENSON

    SVP, TRADE

    Total calculated
    $281,466
    From this org
    $0
    From related orgs
    $252,036
    Other
    $29,430
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $0 + $236,305 related
    Bonus
    $0 + $7,500 related
    Other
    $0 + $8,231 related
    Deferred
    $0 + $29,257 related
    Nontaxable benefits
    $0 + $173 related
    Filer's total
    $0 + $281,466 related

  • DEEPA SINHA

    VP, PAYMENTS AND FINANCIAL CRIME

    Total calculated
    $188,436
    From this org
    $0
    From related orgs
    $163,327
    Other
    $25,109
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $0 + $157,227 related
    Bonus
    $0 + $6,100 related
    Other
    $0
    Deferred
    $0 + $17,627 related
    Nontaxable benefits
    $0 + $7,482 related
    Filer's total
    $0 + $188,436 related

  • DIANA RODRIGUEZ

    VP, INTERNATIONAL POLICY TO 10/22

    Total calculated
    $153,437
    From this org
    $0
    From related orgs
    $125,185
    Other
    $28,252
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $0 + $116,605 related
    Bonus
    $0
    Other
    $0 + $8,580 related
    Deferred
    $0 + $15,378 related
    Nontaxable benefits
    $0 + $12,874 related
    Filer's total
    $0 + $153,437 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: $40,548.

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.

Provenance

Return type
form_990
Tax year
2022
Filed
12 July 2024
IRS schema version
2022v5.0
Source object
202441949349301019

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