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← NORTH CAROLINA BANKERS ASSOCIATION

Form 990 for tax year 2024

Filed by NORTH CAROLINA BANKERS ASSOCIATION.

Totals

Total revenue
$2,805,999
Total expenses
$3,750,856
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$2,176,064
Investment income
$535,623
Other revenue
$94,312
Total assets, end of year
$20,910,022
Total liabilities, end of year
$345,982
Net assets or fund balances, end of year
$20,564,040
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: CONVENTION FEES

    total $1,140,462 · related or exempt $1,140,462

  • 2b · Program service revenue: MEMBER DUES

    total $742,602 · related or exempt $742,602

  • 2c · Program service revenue: SPONSORSHIPS

    total $293,000 · related or exempt $293,000

  • 3 · Investment income

    total $335,659 · excluded $335,659

  • 6a · Gross rents

    real property $108,750

  • 6b · Less rental expenses

    real property $31,192

  • 6c · Rental income or loss

    real property $77,558

  • 6d · Net rental income or loss

    total $77,558 · unrelated business $77,558

  • 7a · Gross sales of assets other than inventory

    securities $318,854 · other assets $73,421

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

    securities $140,890 · other assets $51,421

  • 7c · Gain or loss

    securities $177,964 · other assets $22,000

  • 7d · Net gain or loss

    total $199,964 · excluded $199,964

  • 11a · Other revenue: MISCELLANEOUS REVENUE

    total $16,754 · related or exempt $16,754

  • 11e · Other revenue, total

    $16,754

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $1,712,067

  • 7 · Other salaries and wages

    total $35,528

  • 8 · Pension plan contributions

    total $44,426

  • 9 · Other employee benefits

    total $196,688

  • 10 · Payroll taxes

    total $98,186

  • 11b · Fees: legal

    total $16,587

  • 11c · Fees: accounting

    total $84,205

  • 11d · Fees: lobbying

    total $148,506

  • 11f · Fees: investment management

    total $4,991

  • 11g · Fees: other

    total $154,167

  • 13 · Office expenses

    total $25,532

  • 16 · Occupancy

    total $57,353

  • 17 · Travel

    total $28,975

  • 19 · Conferences, conventions and meetings

    total $738,857

  • 22 · Depreciation, depletion and amortization

    total $99,012

  • 23 · Insurance

    total $170,686

  • 24a · Other expenses: PROJECT EXPENSE

    total $21,227

  • 24b · Other expenses: INCOME TAXES

    total $17,991

  • 24c · Other expenses: DUES AND SUBSCRIPTIONS

    total $17,061

  • 24e · All other expenses

    total $78,811

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $117,830 · end of year $413,655

  • 2 · Savings and temporary cash investments

    beginning of year $1,596,874 · end of year $776,280

  • 4 · Accounts receivable

    beginning of year $24,764 · end of year $28,489

  • 7 · Other notes and loans receivable

    beginning of year $4,110,297 · end of year $4,196,773

  • 9 · Prepaid expenses and deferred charges

    beginning of year $183,770 · end of year $112,319

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

    $3,021,087

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

    $2,144,434

  • 10c · Land, buildings and equipment, net

    beginning of year $977,053 · end of year $876,653

  • 11 · Investments: publicly traded securities

    beginning of year $4,001,507 · end of year $4,414,090

  • 12 · Investments: other securities

    beginning of year $7,818,209 · end of year $7,911,047

  • 15 · Other assets

    beginning of year $1,850,393 · end of year $2,180,716

  • 17 · Accounts payable and accrued expenses

    beginning of year $251,071 · end of year $200,091

  • 19 · Deferred revenue

    beginning of year $211,191 · end of year $145,891

  • 27 · Net assets without donor restrictions

    beginning of year $20,218,435 · end of year $20,564,040

Mission and programs · 2024

Mission

THE MISSION OF THE NCBA IS TO CARRY OUT THE GENERAL PURPOSE OF FINANCIAL INSTITUTIONS OPERATING IN NORTH CAROLINA, SUCH AS ACTING AS AN EFFECTIVE LEGISLATIVE LIAISON, PROVIDING CONTINUING EDUCATION TO MEMBERS AND ACCESS TO PRODUCTS, SERVICES AND PUBLICATIONS.

Activities or mission (Part I)

TO OFFER EDUCATION AND SERVICES TO THE FINANCIAL INSTITUTIONS OF NORTH CAROLINA.

  • THE NORTH CAROLINA BANKERS ASSOCIATION PARTICIPATED IN GOVERNMENT RELATIONS TO PROMOTE AND PROTECT THE COMMON INTERESTS OF ITS MEMBER BANKS IN NORTH CAROLINA.

  • THE ASSOCIATION WAS ACTIVE IN EXPANDING THE FINANCIAL LITERACY OF ALL NORTH CAROLINA CITIZEN, ESPECIALLY SCHOOL AGED CHILDREN.

  • THE NORTH CAROLINA BANKERS ASSOCIATION ALSO HELD OVER 80 DAYS OF MEETINGS THROUGHOUT THE YEAR TO HELP EDUCATE THE BANKING INDUSTRY EMPLOYEES ON CURRENT PROCEDURES AND REGULATIONS.

As filed on the 2024 return.

Listed in Part VII

  • PETER GWALTNEY

    PRESIDENT & CEO

    Total calculated
    $672,986
    From this org
    $615,000
    From related orgs
    $0
    Other
    $57,986
    Hours/week
    40 + 10 related

    Schedule J breakdown matched by us

    Base
    $500,000
    Bonus
    $115,000
    Other
    $0
    Deferred
    $42,125
    Nontaxable benefits
    $15,861
    Filer's total
    $672,986

  • BOB WASHBURN

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • JIM MARSHALL

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • JIM HANSEN

    IMMEDIATE PAST CHAIR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • DAVID ALLEN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • JUAN AUSTIN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • DAVID BARKSDALE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • AMANDA LLOYD

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • JIM ROSE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • CHRIS BELL

    BOARD MEMBER (BEGAN AUG. 2024)

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • DREW COVERT

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • RANDY ADCOCK

    BOARD MEMBER (BEGAN JUNE 2024)

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • BILL BUNN

    BOARD MEMBER (BEGAN JUNE 2024)

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • KEITH EPSTEIN

    BOARD MEMBER (BEGAN JUNE 2024)

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • HUNTER WESTBROOK

    BOARD MEMBER (BEGAN JUNE 2024)

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • FELICIA WOODARD

    BOARD MEMBER (BEGAN JUNE 2024)

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • MIKE ATKINSON

    BOARD MEMBER (THRU JUNE 2024)

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • ROBIN HAGER

    BOARD MEMBER (THRU JUNE 2024)

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • CAROLINE TAYLOR

    BOARD MEMBER (THRU FEB. 2024)

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • DAVID WEAVER

    BOARD MEMBER (THRU JUNE 2024)

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • JEFF WHITTINGTON

    BOARD MEMBER (THRU JUNE 2024)

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • LYNN JOHNSON

    COO

    Total calculated
    $376,090
    From this org
    $324,450
    From related orgs
    $0
    Other
    $51,640
    Hours/week
    40 + 10 related

    Schedule J breakdown matched by us

    Base
    $270,375
    Bonus
    $54,075
    Other
    $0
    Deferred
    $35,690
    Nontaxable benefits
    $15,950
    Filer's total
    $376,090

  • MARK HOLMES

    CFO

    Total calculated
    $187,237
    From this org
    $169,786
    From related orgs
    $0
    Other
    $17,451
    Hours/week
    40 + 10 related

    Schedule J breakdown matched by us

    Base
    $150,000
    Bonus
    $15,000
    Other
    $4,786
    Deferred
    $17,451
    Nontaxable benefits
    $0
    Filer's total
    $187,237

  • NATHAN BATTS

    COUNSEL/SVP

    Total calculated
    $277,674
    From this org
    $240,807
    From related orgs
    $0
    Other
    $36,867
    Hours/week
    40 + 10 related

    Schedule J breakdown matched by us

    Base
    $220,799
    Bonus
    $20,008
    Other
    $0
    Deferred
    $23,000
    Nontaxable benefits
    $13,867
    Filer's total
    $277,674

  • SUZANNE BROOKS

    CONTROLLER

    Total calculated
    $198,081
    From this org
    $165,000
    From related orgs
    $0
    Other
    $33,081
    Hours/week
    40 + 10 related

    Schedule J breakdown matched by us

    Base
    $150,000
    Bonus
    $15,000
    Other
    $0
    Deferred
    $18,044
    Nontaxable benefits
    $15,037
    Filer's total
    $198,081

  • MICHELLE SUTTON

    CORPORATE SECRETARY/ACCT. SPECIALIST

    Total calculated
    $119,048
    From this org
    $102,341
    From related orgs
    $0
    Other
    $16,707
    Hours/week
    40 + 10 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

  • 1a · Travel for companions
  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Form 990 of other organizations
  • 3 · Written employment contract
  • 3 · Approval by the board or compensation committee
  • 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 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 AND 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 THE 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.

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.

  • COMMUNITY BANK SERVICES INC

    C · FINANCIAL SERVICES · NC · 100% owned · share of income $2,164,331 · share of assets $2,291,085 · controlled entity

    Directly controlled by NORTH CAROLINA BANKERS ASSOCIATION

  • CENTRANT COMMUNITY CAPITAL

    C · FINANCIAL SERVICES · NC · 100% owned · share of income $2,044,136 · share of assets $6,583,069 · controlled entity

    Directly controlled by NORTH CAROLINA BANKERS ASSOCIATION

Provenance

Return type
form_990
Tax year
2024
Filed
12 November 2025
IRS schema version
2024v5.2
Source object
202523189349304492

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