2024-08-13T09:26:37-05:00 2023-09-30 410746749 CLIFTONLARSONALLEN LLP 901 N GLEBE ROAD SUITE 200 ARLINGTON VA 22203 990 2022-10-01 361505650 MORTGAGE BANKERS ASSOCIATION MORT 2025572700 1919 M STREET NW 5TH FL WASHINGTON DC 20036 LISA HAYNES CFO & CDIO 2025572700 2024-08-12 1 1 ROBERT WILLIAMS P01345960 5712279500 2024-08-12 2022 2024-08-08 14:25:15Z ROBERT D BROEKSMIT 1919 M STREET NW 5TH FL WASHINGTON DC 20036 107311419 0 X WWW.MBA.ORG X 1914 IL MBA'S PRINCIPAL ACTIVITIES ARE INDUSTRY, EDUCATION, RESEARCH, AND ADVOCACY. 39 39 186 2000 836308 0 110032 68631 69300588 63652927 3239789 4301190 595130 620735 73245539 68643483 553387 510600 0 0 36189311 37474225 0 0 0 25128807 26548929 61871505 64533754 11374034 4109729 142430652 167149281 39624157 54562124 102806495 112587157 X THE MORTGAGE BANKERS ASSOCIATION (MBA) IS THE NATIONAL ASSOCIATION REPRESENTING THE REAL ESTATE FINANCE INDUSTRY, AN INDUSTRY THAT EMPLOYS MORE THAN 280,000 PEOPLE IN VIRTUALLY EVERY COMMUNITY IN THE COUNTRY. HEADQUARTERED IN WASHINGTON, D.C., MBA INVESTS IN COMMUNITIES 0 0 MEETINGSMBA'S FISCAL YEAR 2023, ENDING SEPTEMBER 30, 2023, SAW MORE THAN 14,178 INDIVIDUAL ATTENDEES AT 13 CONFERENCES AND MEETINGS THAT PROVIDED ATTENDEES WITH TIMELY INFORMATION ABOUT THE ECONOMY, BUSINESS TRENDS, TECHNOLOGICAL INNOVATION AND LEGISLATIVE AND REGULATORY CHANGES AND PROSPECTS. MBA CONDUCTED A TREMENDOUSLY SUCCESSFUL ANNUAL CONVENTION IN OCTOBER 2022 WITH 4,226 ATTENDEES. THE CREF/MULTIFAMILY HOUSING CONVENTION & EXPO WAS HELD IN FEBRUARY 2023 IN SAN DIEGO WITH 2,679 ATTENDEES. SPONSORSHIPS FOR FY2023 SAW SOME OF THEIR STRONGEST NUMBERS IN HISTORY AT 300 FOR THE YEAR AND BOTH SALES WERE STRONG AS VENDORS LOOKED TO INVEST AFTER BEING DORMANT FOR SO LONG DURING THE PANDEMIC. 333 COMPANIES INVESTED IN EXHIBITING THEIR PRODUCTS AND SERVICES WITH MBA THROUGHOUT THE YEAR AND THAT WAS AN EXTREMELY STRONG SHOWING. IN ADDITION TO THE TWO LARGE CONVENTIONS EXPECTED FROM A MAJOR ASSOCIATION MENTIONED ABOVE, MBA USUALLY HOSTS 3 ADDITIONAL LARGE CONFERENCES AND EXPOS EACH YEAR (SERVICING SOLUTIONS CONFERENCE AND EXPO, TECHNOLOGY, AND SECONDARY AND CAPITAL MARKETS CONFERENCE AND EXPO) AS WELL AS 9 MORE FINELY FOCUSED SPECIALIZED INTEREST CONFERENCES, HELP PARTICIPANTS GAIN KNOWLEDGE AND INFORMATION IN SUCH AREAS AS LEGAL ISSUES AND REGULATORY COMPLIANCE, COMMERCIAL SERVICING, AND ACCOUNTING AND FINANCIAL MANAGEMENT. IT APPEARED WE HAVE LESS MEETINGS, BUT THIS WAS THE FIRST YEAR WE COMBINED REGULATORY COMPLIANCE AND RISK MANAGEMENT TOGETHER IN SEPTEMBER. IN TERMS OF PROGRAMMING, WE ISSUED 600 CERTIFICATES FOR CONTINUING LEGAL EDUCATION CREDIT (CLE), 160 FOR CPE CREDITS THROUGH NASBA (NATIONAL ASSOCIATION OF STATE BOARDS OF ACCOUNTANCY) AND OTHER CONTINUING EDUCATION CREDITS RELATED TO OUR PROGRAMS. IT IS WORTH MENTIONING THAT WE HAD OVER 317 SESSIONS WITH 920 SPEAKERS.EVEN WITH THE FISCALLY ROBUST ANNUAL CONVENTION AND STRONG SALES, ESPECIALLY AT THE START OF THE FISCAL YEAR, OUR MEMBERS FACED CHALLENGES AND STRONG HEADWINDS AS THE YEAR CONTINUED, AS RATES BEGAN TO RISE AND SIMULTANEOUSLY THE TECH INDUSTRY BEGAN TO FALTER (AS INDICATED BY THE FALTERING SILICON VALLEY BANKS AND SHUTTERING TECH COMPANIES). BY THE TIME OUR TECHNOLOGY SOLUTIONS CONFERENCE TOOK PLACE IN THE SPRING, THE BUDGET ENDED OFF BY $1.3 M NET. THIS CHANGED THE COURSE OF OUR DEPARTMENT, EASILY EXCEEDING OUR NET BUDGET FOR FY23 BY $500,000. INSTEAD, WITH THE PERFECT STORM IN THE REAL ESTATE FINANCE TECH SECTOR, WE MISSED OUR NET FY23 GOAL BY OVER $700,000. THIS HAD LED US TO SUSPEND OUR TECHNOLOGY SOLUTIONS CONFERENCE GIVEN THAT ICE AND OTHERS WERE ENCROACHING INTO THE TECHNOLOGY SPACE. OUR MEMBERS MAY BE BETTER SERVED IF WE WEAVED TECHNOLOGICAL CONTENT THROUGHOUT ALL APPROPRIATE CONFERENCES SO EVERY MEMBER COULD TAKE ADVANTAGE OF OUR TECHNOLOGY SESSIONS. MEMBERSHIP MBA'S MEMBERSHIP INCLUDES BUSINESSES FROM ALL SEGMENTS OF THE REAL ESTATE FINANCE INDUSTRY. WE ENDED 2023 WITH MORE THAN 2,225 TOTAL MEMBERS. EDUCATIONMBA EDUCATION PROVIDED TRAINING AND DEVELOPMENT TO OVER 40,000 REAL ESTATE PROFESSIONALS REPRESENTING SINGLE-FAMILY AND COMMERCIAL/MULTIFAMILY LENDING DURING THE FISCAL YEAR ENDING SEPTEMBER 30, 2023. TRAINING IS PROVIDED THROUGH A MIX OF DELIVERY FORMATS INCLUDING CLASSROOM-BASED COURSES, INSTRUCTOR-GUIDED ONLINE COURSES, CERTIFICATION AND DESIGNATION PROGRAMS, WEBINARS, AND WEB-BASED SELF-STUDY COURSES. ACROSS MBA EDUCATION'S LIVE PROGRAMMING AND SELF-PACED OFFERINGS, THE DEPARTMENT OFFERS NEARLY 450 TRAINING PROGRAMS COVERING ALL FACETS OF THE INDUSTRY. DURING THE YEAR, MBA EDUCATION LAUNCHED MORTGAGE BANKING BOUND, A NEW COLLEGE CERTIFICATION PROGRAM AIMED AT EDUCATING AND ATTRACTING NEW RESIDENTIAL MORTGAGE PROFESSIONALS TO THE INDUSTRY. OUR 3-COURSE FLAGSHIP PROGRAM, THE SCHOOL OF MORTGAGE BANKING, COMBINED TO TRAIN NEARLY 1,200 STUDENTS. SUCCESSFUL COMPLETION OF THE THREE COURSES RESULTS IN STUDENTS BEING AWARDED THE ACCREDITED MORTGAGE PROFESSIONAL (AMP) CERTIFICATION. MBA EDUCATION'S CERTIFICATION AND DESIGNATION PROGRAMS CONTINUED TO BE A SIGNIFICANT BENEFIT TO INDUSTRY PROFESSIONALS. DURING THE FISCAL YEAR, OVER 1,300 INDIVIDUALS ENROLLED IN ONE OF MBA EDUCATION'S SEVEN CERTIFICATION AND DESIGNATION PROGRAMS. MBA'S HIGHEST DESIGNATION, THE CERTIFIED MORTGAGE BANKER (CMB), CELEBRATED ITS 50TH ANNIVERSARY WITH CLOSE TO 60 INDUSTRY PROFESSIONALS ACHIEVING THE PRESTIGIOUS CERTIFICATION. 0 0 1 1 0 0 0 0 0 1 0 0 1 1 0 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 1 158 0 1 186 1 1 1 0 0 0 1 1 0 1 0 X 39 39 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X LISA J HAYNES 2025572835 1919 M STREET NW 5TH FLOOR WASHINGTON DC 20036 MARK JONES CHAIR-ELECT 7.00 0.00 X X 3670 0 0 KRISTY FERCHO IMMEDIATE PAST CHAIR 1.00 0.00 X X 6892 0 0 MATTHEW G ROCCO SR CHAIR 4.00 0.00 X X 12566 0 0 LAURA ESCOBAR VICE-CHAIR 4.00 0.00 X X 1623 0 0 SUSAN T STEWART IMMEDIATE PAST CHAIR 1.00 0.00 X X 0 0 0 DAVID BRICKMAN BOARD MEMBER 0.50 0.00 X 0 0 0 PATRICK CAREY BOARD MEMBER 0.50 0.00 X 0 0 0 CHRISTINE R CHANDLER BOARD MEMBER 0.50 0.00 X 0 0 0 JEFF FRIEDMAN BOARD MEMBER 0.50 0.00 X 0 0 0 ERIC GATES BOARD MEMBER 0.50 0.00 X 0 0 0 JACK GAY BOARD MEMBER 0.50 0.00 X 0 0 0 CHRISTOPHER M GEORGE BOARD MEMBER 0.50 0.00 X 0 0 0 NIMA GHAMSARI BOARD MEMBER 0.50 0.00 X 0 0 0 ROHIT GUPTA BOARD MEMBER 0.50 0.00 X 0 0 0 BRIAN HANSON BOARD MEMBER 0.50 0.00 X 0 0 0 JOHN HEDLUND BOARD MEMBER 0.50 0.00 X 0 0 0 TAWN KELLEY BOARD MEMBER 0.50 0.00 X 0 0 0 OWEN V LEE BOARD MEMBER 0.50 0.00 X 0 0 0 WILLIAM LOWMAN BOARD MEMBER 0.50 0.00 X 0 0 0 SONYA LUECHAUER BOARD MEMBER 0.50 0.00 X 0 0 0 GENE LUGAT BOARD MEMBER 0.50 0.00 X 0 0 0 JEFFREY MAJEWSKI BOARD MEMBER 0.50 0.00 X 0 0 0 MARY ANN MCGARRY BOARD MEMBER 0.50 0.00 X 0 0 0 GREG MICHAUD BOARD MEMBER 0.50 0.00 X 0 0 0 STANLEY C MIDDLEMAN BOARD MEMBER 0.50 0.00 X 0 0 0 J DAVID MOTLEY BOARD MEMBER 0.50 0.00 X 0 0 0 PETER NORDEN BOARD MEMBER 0.50 0.00 X 0 0 0 WILLIAM NEWMAN BOARD MEMBER 0.50 0.00 X 0 0 0 MARK O'DONOVAN BOARD MEMBER 0.50 0.00 X 0 0 0 EDDY PEREZ BOARD MEMBER 0.50 0.00 X 0 0 0 KURT PFOTENHAUER BOARD MEMBER 0.50 0.00 X 0 0 0 STEVEN PLAISANCE BOARD MEMBER 0.50 0.00 X 0 0 0 CHRISTINE C RHEA BOARD MEMBER 0.50 0.00 X 0 0 0 DAVID SPECTOR BOARD MEMBER 0.50 0.00 X 0 0 0 DEBRA W STILL BOARD MEMBER 0.50 0.00 X 0 0 0 MICHAEL S TANNER BOARD MEMBER 0.50 0.00 X 0 0 0 JOE TYRRELL BOARD MEMBER 0.50 0.00 X 0 0 0 JIM WEHMANN BOARD MEMBER 0.50 0.00 X 0 0 0 JEFF WEIDELL BOARD MEMBER 0.50 0.00 X 0 0 0 THOMAS L WIND BOARD MEMBER 0.50 0.00 X 0 0 0 ROBERT D BROEKSMIT PRESIDENT & CEO 34.70 0.30 X 2039610 0 314059 MICHAEL W BRIGGS SVP & GENERAL COUNSEL 32.70 2.30 X 389428 0 43832 LISA J HAYNES SVP, CFO & CHIEF DIV. & INCLUSION OFFICER 32.70 2.30 X 414292 0 56810 MARCIA M DAVIES CHIEF OPERATING OFFICER 34.70 0.30 X 980257 0 53438 GORDON R MILLS SVP, RES. POLICY & MEMBER ENGAGEMENT 35.00 0.00 X 658649 0 59366 WILLIAM P KILLMER SVP, LEGISLATIVE & POLITICAL AFFAIRS 35.00 0.00 X 613770 0 54187 MICHAEL P FLOOD SVP, CREF & MULTIFAMILY 35.00 0.00 X 493957 0 62246 MICHAEL C FRATANONI CHIEF ECON./SVP OF RESR. & IND. TECH 33.00 2.00 X 468058 0 59957 PETER J GRACE CIO/SVP, STRATEGY & MEMBER SERVICES 35.00 0.00 X 452856 0 59366 STEPHEN O'CONNOR SVP, AFFORDABLE HOUSING INITIATIVES 35.00 0.00 X 432040 0 59366 JEFFREY SCHUMMER VP, EDUCATION 35.00 0.00 X 245442 0 50758 ELAINE HOWARD VP, MEETINGS 35.00 0.00 X 327491 0 62216 JOHN MECHEM VP, PUBLIC AFFAIRS 35.00 0.00 X 303316 0 63537 JAMES WOODWELL VP, COMMERCIAL REAL ESTATE RES. 35.00 0.00 X 324368 0 41078 TAMARA KING VP OF STRATEGIC INDUSTRY ENGAGEMENT 35.00 0.00 X 291398 0 45321 8459683 0 1085537 111 0 1 0 CREATIVE ARTISTS AGENCY 2000 AVENUE OF THE STARS LOS ANGELES CA 90067 PROVIDES TALENT AND LITERARY AGENCY SERV 475000 STRATMOR GROUP LLC PO BOX 19436 BOULDER CO 80308 DATA DRIVEN MORTGAGE ADVISORY 327464 KEEN TECHNOLOGIES GROUP LLC 6909 CORNERSTONE CT WARRENTON VA 20187 CUSTOM TAILORED TECHNOLOGY SOLUTIONS 203498 DAVIS CARTER SCOTT LTD 8614 WESTWOOD CENTER DR SUITE 80 TYSONS VA 22182 ARCHITECTURE, INTERIOR ARCHITECTURE, AND 158416 THORN RUN PARTNERS 100 M STREET SE SUITE 750 WASHINGTON DC 20003 LOBBYING SERVICES 157500 11 68631 68631 MEMBERSHIP DUES 900099 26694375 26694375 CONFERENCES AND PROGRAMS 900099 25962158 25962158 EDUCATION AND PROGRAMS 900099 5534454 5534454 OTHER PROGRAM SERVICES 900099 3801815 3706094 95721 PERIODICALS AND PUBLICATIONS 541800 1660125 919538 740587 63652927 3026595 3026595 620735 620735 39942531 38667936 1274595 1274595 1274595 68643483 62816619 836308 4921925 510600 7515543 23873437 1186881 3122590 1775774 112101 92474 559986 355674 1846813 280270 2725461 2445810 48616 1633359 1635689 9538368 1254020 444061 PRINTING & PRODUCTION 1168807 STAFF PROCUREMENT & TRA 885814 SUBSCRIPTIONS & PUBLICA 436077 1085529 64533754 40694875 21698834 526789 2011742 3737792 4070150 12705464 6546130 3279769 6159334 93135844 118501959 1055583 14707262 142430652 167149281 6935522 7000017 30141176 26632668 2547459 20929439 39624157 54562124 X 102669504 112455509 136991 131648 102806495 112587157 142430652 167149281 4109729 5670933 0 X 0 1 X 1 0 MORTGAGE BANKERS ASSOCIATION PAC 1919 M STREET NW 5TH FLR WASHINGTON DC 20036 526144335 997326 0 0 1 26694375 2507866 -2957960 -450094 1334719 -1784813 PART I-A LINE 1 MBA'S POLITICAL ACTIVITY FOR THE YEAR ENDED 9/30/23 CONSISTED OF ACTIVITIES CONDUCTED SOLELY THROUGH ITS CONNECTED PAC, THE MORTGAGE BANKERS ASSOCIATION PAC (MORPAC) 7138247 2358242 4780005 5105027 3725698 1379329 462190 462190 0 6159334 OTHER ASSETS 848268 457 PLAN ASSET 375240 RIGHT OF USE OPERATING ASSET 13260048 ROU FINANCING ASSET 223706 14707262 DUE TO AFFILIATES 148465 457 PLAN LIABLITY 375240 LEASE LIABILITY - OPERATING 20179197 LEASE LIABILITY - FINANCING 226537 20929439 0 ADMIN AWARDS LLC 2118 WALL ST STE 800 GARLAND TX 75041 464701370 S-CORP 14500 0 N/A N/A CONTRIBUTION/SPONSORSHIP BISHOP JOHN T WALKER SCHOOL FOR BOYS 1801 MISSISSIPPI AVE SE WASHINGTON DC 20020 530196608 501(C)(3) 20000 0 N/A N/A FULL YEAR STUDENT SPONSOR CARE FUND FOUNDATION 12495 SILVER CREEK RD DRIPPINGS SPGS TX 78620 843116679 501(C)(3) 6000 0 N/A N/A DONATION/SPONSORSHIP CONGRESSIONAL SPORTS FOR CHARITY PO BOX 1987 ALEXANDRIA VA 22313 812118591 501(C)(3) 10000 0 N/A N/A SPONSOR CONGRESSIONAL BASEBALL CONSUMER FEDERATION OF AMERICA 1601 I ST NW STE 200 WASHINGTON DC 20006 520880625 501(C)(3) 6000 0 N/A N/A FINANCIAL SERVICES CONF SPONSORSHIP HBCU BUSINESS DEANS ROUNDTABLE PO BOX 6873 COLUMBUS GA 31917 721491905 501(C)(3) 15000 0 N/A N/A HBCU BUSINESS DEANS ROUNDTABLE HOMEFREE-USA INC 6200 BALTIMORE AVE RIVERDALE MD 20737 521885132 501(C)(3) 53700 0 N/A N/A GENERAL SUPPORT/SPONSORSHIP HOMEOWNERSHIP COUNCIL OF AMERICA 712 H ST NE UNIT 725 WASHINGTON DC 20002 870798977 501(C)(3) 10000 0 N/A N/A GENERAL SUPPORT JOHNS HOPKINS UNIVERSITY MEDICINE 6225 SMITH AVENUE SUITE 100-B BALTIMORE MD 21209 520595110 501(C)(3) 25000 0 N/A N/A DONATION LENDERS ONE 12747 OLIVE BLVD STE 300 ST LOUIS MO 63141 431916565 COOP 12500 0 N/A N/A ANNUAL SPONSORSHIP MBA OPENS DOORS FOUNDATION 1919 M ST NW 5TH FL WASHINGTON DC 20036 320355086 501(C)(3) 76975 0 N/A N/A DONATIONS AND MBA STAFF MATCHING GIFTS NATIONAL ASSOCIATION OF MINORITY MORTGAGE BANKERS OF AMERICA INC PO BOX 7246 ATLANTA GA 30357 814649521 501(C)(3) 15000 0 N/A N/A SPONSOR ANNUAL DIAMOND PARTNER NATIONAL ASSOCIATION OF REAL ESTATE BROKERS 9831 GREENBELT RD STE 309 LANHAM MD 20706 366125210 501(C)(3) 25000 0 N/A N/A DIVERSITY FUNDING AND SPONSORSHIP NATIONAL COMMUNITY REINVESTMENT COALITION 727 15TH ST NW STE 900 WASHINGTON DC 20005 521766126 501(C)(3) 10000 0 N/A N/A CONFERENCE SPONSORSHIP NATIONAL FAIR HOUSING ALLIANCE 1101 VERMONT AVE NW STE 710 WASHINGTON DC 20005 521676364 501(C)(3) 10000 0 N/A N/A ANNIVERSARY CAMPAIGN SPONSOR NATIONAL HOUSING CONFERENCE INC 1900 M ST NW STE 200 WASHINGTON DC 20035 530208180 501(C)(3) 25000 0 N/A N/A MEMBERSHIP & SPONSORSHIP NF FORWARD INC 1074 WOODWARD AVENUE DETROIT MI 48226 821672519 501(C)(3) 7500 0 N/A N/A DONATION THE AFFORDABLE HOUSING ALLIANCE OF CENTRAL OHIO 360 SOUTH THIRD STREET COLUMBUS OH 43215 133039601 501(C)(3) 20000 0 N/A N/A SPONSORSHIP/SUSTAINING ADVISOR THE RELATIVES 2219 FREEDOM DRIVE CHARLOTTE NC 28208 561082022 501(C)(3) 10000 0 N/A N/A DONATION THE WOMEN'S CENTER 8230 OLD COURTHOUSE ROAD STE 500 VIENNA VA 22182 237423496 501(C)(3) 5500 0 N/A N/A GALA SPONSORSHIP URBAN INSTITUTE 2100 M ST NW WASHINGTON DC 20037 520880375 501(C)(3) 10000 0 N/A N/A MEMBERSHIP CONTRIBUTION WOLF TRAP FOUNDATION 1645 TRAP RD VIENNA VA 22182 237011544 501(C)(3) 6000 0 N/A N/A DONATION 20 2 X X X X 1 1 X X X 0 0 0 ROBERT D BROEKSMIT PRESIDENT & CEO 1246374 0 770414 0 22822 0 275925 0 38134 0 2353669 0 0 0 MARCIA M DAVIES CHIEF OPERATING OFFICER 630693 0 325500 0 24064 0 25925 0 27513 0 1033695 0 0 0 GORDON R MILLS SVP, RES. POLICY & MEMBER ENGAGEMENT 534585 0 100000 0 24064 0 25925 0 33441 0 718015 0 0 0 WILLIAM P KILLMER SVP, LEGISLATIVE & POLITICAL AFFAIRS 514706 0 75000 0 24064 0 25925 0 28262 0 667957 0 0 0 MICHAEL P FLOOD SVP, CREF & MULTIFAMILY 397347 0 85000 0 11610 0 25925 0 36321 0 556203 0 0 0 MICHAEL C FRATANONI CHIEF ECON./SVP OF RESR. & IND. TECH 376316 0 70000 0 21742 0 25850 0 34107 0 528015 0 0 0 PETER J GRACE CIO/SVP, STRATEGY & MEMBER SERVICES 410114 0 21000 0 21742 0 25925 0 33441 0 512222 0 0 0 STEPHEN O'CONNOR SVP, AFFORDABLE HOUSING INITIATIVES 358976 0 50000 0 23064 0 25925 0 33441 0 491406 0 0 0 LISA J HAYNES SVP, CFO & CHIEF DIV. & INCLUSION OF 336373 0 55000 0 22919 0 25925 0 30885 0 471102 0 0 0 MICHAEL W BRIGGS SVP & GENERAL COUNSEL 345864 0 40000 0 3564 0 25925 0 17907 0 433260 0 0 0 ELAINE HOWARD VP, MEETINGS 298790 0 25000 0 3701 0 25925 0 36291 0 389707 0 0 0 JOHN MECHEM VP, PUBLIC AFFAIRS 284074 0 18000 0 1242 0 25303 0 38234 0 366853 0 0 0 JAMES WOODWELL VP, COMMERCIAL REAL ESTATE RES. 301058 0 20988 0 2322 0 25691 0 15387 0 365446 0 0 0 TAMARA KING VP OF STRATEGIC INDUSTRY ENGAGEMENT 269156 0 21000 0 1242 0 23078 0 22243 0 336719 0 0 0 JEFFREY SCHUMMER VP, EDUCATION 116807 0 121636 0 6999 0 25925 0 24833 0 296200 0 0 0 PART I, LINE 1A INFORMATION ABOUT THE LISTED BENEFITS IS AS FOLLOWS. FIRST CLASS OR CHARTER TRAVEL: 3 OFFICERS, KEY EMPLOYEES, AND DIRECTORS RECEIVED THE BENEFIT. TRAVEL FOR COMPANIONS: 3 OFFICERS, KEY EMPLOYEES, AND DIRECTORS RECEIVED THE BENEFIT. GROSS UP PAYMENTS: 1 BOARD OF DIRECTOR RECEIVED THE BENEFIT. SOCIAL CLUB DUES: 1 OFFICER RECEIVED THE BENEFIT. THESE BENEFITS WERE NOT TREATED AS TAXABLE COMPENSATION TO THE LISTED PERSONS, EXCEPT FOR BOARD MEMBER'S COMPANION TRAVEL. FORM 990, PART VI, SECTION A, LINE 1A MBA HAS AN EXECUTIVE COMMITTEE THAT IS EMPOWERED TO ACT ON BEHALF OF THE FULL BOARD OF DIRECTORS BETWEEN MEETINGS. THE COMMITTEE DOES NOT HAVE THE AUTHORITY TO ADOPT OFFICIAL POSITIONS ON PUBLIC POLICY MATTERS (UNLESS EXPLICITLY PROVIDED THAT POWER); APPROVE THE ANNUAL BUDGET; DETERMINE MEMBER DUES; APPOINT OR REMOVE THE PRESIDENT AND CEO; FILL BOARD AND EXECUTIVE COMMITTEE VACANCIES; ADOPT BYLAWS AMENDMENTS; APPROVE ORGANIZATIONAL CONSOLIDATION OR MERGER; OR ELIMINATE A STANDING COMMITTEE. THE EXECUTIVE COMMITTEE IS COMPOSED OF THE ELECTED OFFICERS AND THE CHAIRS OF COMBOG AND RESBOG, AS WELL AS THE PRESIDENT AND CEO OF THE ASSOCIATION SERVICING EX OFFICIO AS NONVOTING MEMBER. FORM 990, PART VI, SECTION A, LINE 6 MBA IS A NONPROFIT MEMBERSHIP CORPORATION. IT HAS THE FOLLOWING CLASSES OF MEMBERSHIP: (A) REGULAR MEMBERS - FINANCIAL INSTITUTIONS AND OTHER ENTITIES THAT ARE REGULARLY IN THE BUSINESS OF ORIGINATING, SERVICING, OR INVESTING IN MORTGAGE LOANS OR OTHERWISE SHARE IN THE RISK OF MORTGAGE LOAN PERFORMANCE, SUCH AS MORTGAGE INSURERS AND TITLE INSURANCE UNDERWRITERS, SHALL BE CONSIDERED REGULAR MEMBERS. (B) ASSOCIATE MEMBERS - BUSINESS ORGANIZATIONS, FINANCIAL INSTITUTIONS, AND INDIVIDUALS THAT REGULARLY PROVIDE SERVICE OR PRODUCTS FOR BUSINESS ORGANIZATIONS OR FINANCIAL INSTITUTIONS ELIGIBLE TO BE REGULAR MEMBERS SHALL BE CONSIDERED ASSOCIATE MEMBERS. (C) ALLIANCE MEMBER - THE BOARD OF DIRECTORS NAMES AS THE SOLE ALLIANCE MEMBER THE MORTGAGE ACTION ALLIANCE, INC., AN AFFILIATE ORGANIZATION THAT OPERATES TO PROMOTE THE COMMON BUSINESS INTERESTS OF THE RESIDENTIAL AND COMMERCIAL REAL ESTATE FINANCE INDUSTRIES THROUGH GRASSROOTS ADVOCACY ACTIVITIES. (D) HONORARY MEMBERS - INDIVIDUALS WHO HAVE SERVED ALL OR PART OF TWO TERMS AS A MEMBER OF ONE OF THE BOARD OF GOVERNORS, OR WHO HAVE SERVED AS AN OFFICER FOR TWO YEARS, AND WHO HAVE RETIRED FROM ACTIVE BUSINESS SHALL BE CONSIDERED HONORARY MEMBERS. (E) STUDENT MEMBERS - INDIVIDUALS (I) WHO, PRIOR TO EMPLOYMENT IN THE REAL ESTATE FINANCE INDUSTRY, ARE VALIDLY ENROLLED IN A COMMUNITY OR OTHER TWO-YEAR COLLEGE OR OTHER POST-SECONDARY EDUCATIONAL INSTITUTION ("EDUCATIONAL INSTITUTION") AND ALSO VALIDLY ENROLLED IN THE ASSOCIATION'S CURRENT CAREER EDUCATION COURSE, OR OTHER COMPARABLE INSTRUCTIONAL COURSE PROVIDED BY THE ASSOCIATION, OR (II) WHO, PRIOR TO EMPLOYMENT IN THE REAL ESTATE FINANCE INDUSTRY, ARE VALIDLY ENROLLED IN ANY EDUCATIONAL INSTITUTIONAL AFTER COMPLETING THE ASSOCIATION'S CURRENT CAREER EDUCATION COURSE, OR OTHER COMPARABLE INSTRUCTIONAL COURSE PROVIDED BY THE ASSOCIATION. FORM 990, PART VI, SECTION A, LINE 7A UNDER THE ASSOCIATION'S BYLAWS, ONLY REGULAR MEMBERS AND THE ALLIANCE MEMBER MAY ELECT OFFICERS AND THE AT-LARGE MEMBERS OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7B REGULAR MEMBERS ARE REQUIRED TO APPROVE A PLAN OF MERGER THAT CALLS FOR THE ASSOCIATION TO MERGE INTO ANOTHER ASSOCIATION OR OTHER ENTITY, OR A PLAN OF MERGER THAT CALLS FOR THE ASSOCIATION TO ABSORB ANOTHER ASSOCIATION OR OTHER ENTITY, AND THE MERGER WOULD RESULT IN (I) A NAME CHANGE FOR THE ASSOCIATION, (II) THE CREATION OF A NEW MEMBERSHIP CLASS, (III) THE ELIMINATION OF A MEMBERSHIP CLASS, OR (IV) A SUBSTANTIAL CHANGE TO THE THEN CURRENT GOVERNANCE SYSTEM. IN ADDITION, REGULAR MEMBERS ARE REQUIRED TO APPROVE A PLAN FOR CONSOLIDATION WHEREBY THE ASSOCIATION WOULD COMBINE WITH ONE OR MORE ASSOCIATIONS TO CREATE A NEW ASSOCIATION AND CEASE TO EXIST AS AN INDEPENDENT ENTITY. FORM 990, PART VI, SECTION B, LINE 11B FIVE INDEPENDENT MEMBERS OF THE AUDIT COMMITTEE, WHICH IS A BOARD-LEVEL COMMITTEE, RECEIVED A COPY OF THE FORM 990 BEFORE ITS FILING. FORM 990, PART VI, SECTION B, LINE 12C IT IS MBA'S POLICY THAT NO COVERED PARTY PARTICIPATE IN THE EVALUATION OR APPROVAL BY MBA OF ANY CONTRACTUAL ARRANGEMENT TO WHICH MBA MAY BECOME A PARTY IF THE COVERED PARTY'S PARTICIPATION WOULD CREATE AN ACTUAL OR POTENTIAL CONFLICT OF INTEREST. MBA'S CONFLICTS POLICY WILL BE CONTINOUSLY MONITORED BY THE BOARD OF DIRECTORS ON AN ONGOING BASIS FOR COMPLIANCE WITH THE POLICY AND REQUIRES ANNUAL DISCLOSURE TO THE MBA GENERAL COUNSEL AND SECRETARY OF "CONFLICTS OF INTEREST" DEFINED AS A SITUATION IN WHICH A COVERED PARTY WOULD PARTICIPATE IN THE EVALUATION OR APPROVAL BY MBA OF ANY CONTRACTUAL ARRANGEMENT TO WHICH MBA MAY BECOME A PARTY, IF SUCH INDIVIDUAL, OR SUCH INDIVIDUAL'S EMPLOYER, WOULD OBTAIN MORE THAN AN INSIGNIFICANT FINANCIAL BENEFIT, EITHER DIRECTLY OR INDIRECTLY. "COVERED PARTY" MEANS A MEMBER OF THE MBA BOARD OF DIRECTORS OR A MEMBER OF THE BOARD COMMITTEE OR BOARD TASK FORCE THAT MAY BOTH (I) RECOMMEND ENTERING INTO CONTRACTS AND (II) PLAY A ROLE IN VENDOR REVIEW AND SELECTION. MOREOVER, COVERED PARTIES ARE SUPPOSED TO UPDATE THEIR DISCLOSURES AS CIRCUMSTANCES WARRANT AND PROVIDE THEM TO THE MBA GENERAL COUNSEL AND SECRETARY. THE DISINTERESTED MEMBERS OF THE EXECUTIVE COMMITTEE OF THE MBA BOARD OF DIRECTORS SHALL DETERMINE WHETHER A CONFLICT OF INTEREST EXISTS OR BEHAVIOR IN CONFLICT WITH THIS POLICY HAS OCCURRED, AND WHAT SUBSEQUENT ACTION IS APPROPRIATE (IF ANY) AND ITS DECISION WILL BE FINAL, EXCEPT AS FOLLOWS. THE EXECUTIVE COMMITTEE SHALL INFORM THE FULL BOARD OF DIRECTORS OF ANY DISAGREEMENT BETWEEN THE EXECUTIVE COMMITTEE AND THE DISCLOSING DIRECTOR AS TO ITS DETERMINATION THAT A CONFLICT OF INTEREST, OR BEHAVIOR IN CONFLICT OF THE POLICY, EXISTS AND ANY RECOMMENDED ACTION. THE BOARD SHALL RETAIN THE RIGHT TO MODIFY OR REVERSE THE EXECUTIVE COMMITTEE'S DETERMINATIONS IN THIS CONTEXT. THE CONFLICTS OF INTEREST POLICY ALSO ADDRESSES CONFIDENTIALITY. FORM 990, PART VI, SECTION B, LINE 15 PROCESS FOR PRESIDENT AND CEO 1. REVIEW AND APPROVAL. THE COMPENSATION COMMITTEE, ON BEHALF OF THE BOARD, WILL REVIEW AND APPROVE THE COMPENSATION OF MBA'S CHIEF EMPLOYED EXECUTIVE, THE PRESIDENT, PROVIDED THAT INDIVIDUALS WITH CONFLICTS OF INTEREST WITH RESPECT TO THE COMPENSATION ARRANGEMENT AT ISSUE ARE NOT INVOLVED IN THIS REVIEW AND APPROVAL. 'COMPENSATION' MEANS INITIAL SALARY, SPECIAL BENEFITS NOT GENERALLY AVAILABLE TO MBA STAFF, SALARY INCREASES AND BONUSES. 2. USE OF DATA AS TO COMPARABLE COMPENSATION. THE COMPENSATION COMMITTEE WILL REVIEW AND SET THE COMPENSATION OF THE PRESIDENT USING AS REFERENCES POINTS: (I) COMPENSATION OF ANY PREDECESSOR PRESIDENT, AND (II) READILY AVAILABLE PUBLIC DATA AS TO COMPARABLE COMPENSATION FOR SIMILARLY QUALIFIED PERSONS IN FUNCTIONALLY COMPARABLE POSITIONS AT SIMILARLY SITUATED ORGANIZATIONS (FORMAL BENCHMARKING STUDIES BY OUTSIDE COMPENSATION CONSULTANTS NEED NOT BE COMMISSIONED ANNUALLY BUT MAY BE SOUGHT PERIODICALLY). 3. ASSESSMENT OR PERFORMANCE. THE COMPENSATION COMMITTEE WILL TAKE INTO ACCOUNT: (I) THE LEVEL OF ATTAINMENT OF MBA'S GOALS AND OBJECTIVES OVER THE REVIEW PERIOD, (II) THE NATURE OF THE PARTICULAR EXTERNAL AND INTERNAL CHALLENGES FACING MBA OVER THE REVIEW PERIOD, AND (III) SUCH OTHER CONSIDERATIONS AS MAY BE APPLICABLE UNDER THE PREVAILING CIRCUMSTANCES. 4. CONTEMPORANEOUS DOCUMENTATION AND RECORDKEEPING. THERE IS CONTEMPORANEOUS DOCUMENTATION AND RECORDKEEPING WITH RESPECT TO THE DECISIONS REGARDING THE COMPENSATION ARRANGEMENT. 5. A COMPENSATION CONSULTANT IS HIRED TO ADVISE IN THIS PROCESS. PROCESS FOR SPECIFIED KEY EMPLOYEES 1. REVIEW AND APPROVAL. THE PRESIDENT WILL SUBMIT RECOMMENDATIONS TO THE COMPENSATION COMMITTEE FOR REVIEW AND APPROVAL OF THE TOTAL COMPENSATION OF THE FOLLOWING SPECIFIED KEY EMPLOYEES, AS DEFINED IN THE INTERNAL REVENUE SERVICE'S FORM 990 INSTRUCTIONS: -- THE CHIEF FINANCIAL OFFICER -- THE SECRETARY, AS APPROVED BY THE BOARD OF DIRECTORS -- ALL SENIOR VICE PRESIDENTS PROVIDED THAT INDIVIDUALS WITH CONFLICTS OF INTEREST WITH RESPECT TO THE COMPENSATION ARRANGEMENT AT ISSUE ARE NOT INVOLVED IN THIS REVIEW AND APPROVAL. 'COMPENSATION' MEANS INITIAL SALARY, SPECIAL BENEFITS NOT GENERALLY AVAILABLE TO MBA STAFF, SALARY INCREASES AND BONUSES. 2. USE OF DATA AS TO COMPARABLE COMPENSATION. THE COMPENSATION COMMITTEE WILL REVIEW AND SET THE COMPENSATION OF THE SPECIFIED KEY EMPLOYEES, BASED ON THE RECOMMENDATIONS OF THE PRESIDENT, WHO WILL USE AS REFERENCES POINTS: (I)READILY AVAILABLE PUBLIC OR OTHER DATA AS TO COMPARABLE COMPENSATION FOR SIMILARLY QUALIFIED PERSONS IN FUNCTIONALLY COMPARABLE POSITIONS AT SIMILARLY SITUATED ORGANIZATIONS (MBA NEED NOT OBTAIN FORMAL BENCHMARKING STUDIES FROM OUTSIDE COMPENSATION CONSULTANTS ANNUALLY BUT THESE MAY BE SOUGHT PERIODICALLY); AND (II) THE SALARY AND LENGTH OF SERVICE OF THE PREVIOUS INCUMBENT. 3. ASSESSMENT OF PERFORMANCE. THE COMPENSATION COMMITTEE WILL REVIEW OF SPECIFIED KEY EMPLOYEES THE PRESIDENT'S ASSESSMENT OF -- (I) THE LEVEL OF ATTAINMENT OF MBA'S GOALS AND OBJECTIVES OVER THE REVIEW PERIOD; (II) THE LEVEL OF ATTAINMENT OF A SPECIFIED KEY EMPLOYEE'S INDIVIDUAL GOALS AND OBJECTIVES OVER THE REVIEW PERIOD; (III) THE NATURE OF THE PARTICULAR EXTERNAL AND INTERNAL CHALLENGES FACING MBA OVER THE REVIEW PERIOD; AND (IV) OTHER, DOCUMENTED CONSIDERATIONS THAT MAY BE APPLICABLE UNDER THE PREVAILING CIRCUMSTANCES. 4. CONTEMPORANEOUS DOCUMENTATION AND RECORDKEEPING. THERE IS CONTEMPORANEOUS DOCUMENTATION AND RECORDKEEPING WITH RESPECT TO DECISIONS REGARDING THE COMPENSATION ARRANGEMENTS. 5. A COMPENSATION CONSULTANT IS HIRED TO ADVISE IN THIS PROCESS. PROCESS FOR REMAINING EMPLOYEES 1. THE PRESIDENT IS AUTHORIZED AND DIRECTED TO: (A) IMPLEMENT MBA'S PRESENT EMPLOYEE POSITION CLASSIFICATION SYSTEM THAT IDENTIFIES FUNCTIONALLY COMPARABLE POSITIONS ACROSS GROUPS, AND (B) ADMINISTER A COMPENSATION PLAN BASED ON: (I) SUCH CLASSIFICATION SYSTEM, (II) REASONABLY AVAILABLE CURRENT COMPENSATION DATA FROM SIMILARLY SITUATED ASSOCIATIONS, (III) MBA'S GOALS AND OBJECTIVES, AND (IV) SUCH OTHER CRITERIA OR CONSIDERATIONS THAT MAY BE APPLICABLE UNDER THE PREVAILING CIRCUMSTANCES. 2. THE PRESIDENT IS FURTHER AUTHORIZED TO REVISIT THE EMPLOYEE CLASSIFICATION SYSTEM AS WELL AS TO ENGAGE COMPENSATION CONSULTANTS, FROM TIME TO TIME, TO HELP ASSURE THAT THE EMPLOYEE CLASSIFICATION SYSTEM AND THE COMPENSATION DATA AND PLAN REMAIN RELEVANT TO THE ACHIEVEMENT OF MBA'S OVERALL GOALS AND OBJECTIVES. 3. UNDER EXCEPTIONAL CIRCUMSTANCES THAT MUST BE DOCUMENTED AND REPORTED TO THE COMPENSATION COMMITTEE, THE PRESIDENT IS AUTHORIZED TO OFFER SIGNING OR RETENTION BONUSES AND OTHER FORMS OF COMPENSATION TO EMPLOYEES IN ORDER TO HELP ASSURE THE SMOOTH OPERATION OF MBA AND/OR THE ACHIEVEMENT OF SIGNIFICANT MBA GOALS AND OBJECTIVES. FORM 990, PART VI, SECTION C, LINE 19 CHARTER, BYLAWS AND CONFLICTS OF INTEREST POLICY ARE PROVIDED UPON REQUEST. FINANCIAL INFORMATION IS PROVIDED THROUGH THE FORM 990 UPON REQUEST. FINANCIAL STATEMENTS ARE PROVIDED TO THE BOARD OF DIRECTORS AND ARE NOT MADE AVAILABLE PUBLICLY. 1331 L STREET LLC 1919 M STREET NW 5TH FL WASHINGTON DC 20036 331210397 HELD MBA HEADQUARTERS OFFICE BUILDING DE 0 0 MORTGAGE BANKERS ASSOCIATION MBA FIRST LLC 1919 M STREET NW 5TH FL WASHINGTON DC 20036 PROVIDES SVCS TO ORGANIZATIONS IN THE REAL ESTATE FINANCE INDUSTRY DC 0 0 MORTGAGE BANKERS ASSOCIATION MBA OPENS DOORS FOUNDATION 1919 M STREET NW 5TH FL WASHINGTON DC 20036 320355086 RENTAL & MORTGAGE ASSISTANCE TO FAMILIES WITH CRITICALLY ILL CHILDREN DE 501(C)(3) LINE 7 MORTGAGE BANKERS ASSOCIATION 1 MORTGAGE BANKERS ASSOCIATION POLITICAL ACTION COMMITTEE 1919 M STREET NW 5TH FL WASHINGTON DC 20036 526144335 POLITICAL ACTION COMMITTEE DC 527 MORTGAGE BANKERS ASSOCIATION 1 MORTGAGE ACTION ALLIANCE INC 1919 M STREET NW 5TH FL WASHINGTON DC 20036 271893100 SUPPORT COMMON BUSINESS INTERESTS OF REAL ESTATE FINANCE INDUSTRY DE 501(C)(6) MORTGAGE BANKERS ASSOCIATION 1 MORTGAGE INDUSTRY STANDARDS MAINTENANCE ORGANIZATION INC 1919 M STREET NW 5TH FL WASHINGTON DC 20036 510502943 DEVELOPING, PROMOTING AND MAINTAINING VOLUNTARY ELECTRONIC COMMERCE STDS DE 501(C)(6) MORTGAGE BANKERS ASSOCIATION 1 RESEARCH INSTITUTE FOR HOUSING AMERICA 1919 M STREET NW 5TH FL WASHINGTON DC 20036 366109824 FURTHERING RESEARCH IN THE FIELD OF MORTGAGE BANKING AND REAL ESTATE FINANCE IL 501(C)(3) LINE 12A TYPE I MORTGAGE BANKERS ASSOCIATION 1 0 1 1 0 0 0 0 0 0 0 0 1 0 1 1 1 1 0 1 MBA OPENS DOORS FOUNDATION B 76975 CASH-BOOK VALUE MBA OPENS DOORS FOUNDATION O 639137 CASH-BOOK VALUE MBA OPENS DOORS FOUNDATION P 312679 CASH-BOOK VALUE MISMO INC P 742921 CASH-BOOK VALUE MISMO INC Q 200528 CASH-BOOK VALUE MISMO INC L 2232881 CASH-BOOK VALUE RESEARCH INSTITUTE FOR HOUSING AMERICA C 100000 CASH-BOOK VALUE RESEARCH INSTITUTE FOR HOUSING AMERICA O 48775 CASH-BOOK VALUE RESEARCH INSTITUTE FOR HOUSING AMERICA Q 5328 CASH-BOOK VALUE