2021-01-11T13:28:53-06:00 2020-04-30 WITHUM SMITH BROWN PC 506 CARNEGIE CENTER STE 400 PRINCETON NJ 085406243 990 2019-05-01 131882974 NEW YORK BANKERS ASSOCIATION INC % DRUCILLA MAHABIR NEWY 2122971669 99 PARK AVE FL 4 NEW YORK NY 100161502 DRUCILLA MAHABIR CONTROLLER 2122971669 2021-01-07 true MICHAEL D YARROW P00337781 6095201188 2019 2022-09-23 18:48:47Z DRUCILLA MAHABIR 99 PARK AVE FL 4 NEW YORK NY 100161502 28132116 false X WWW.NYBA.COM X 1894 NY NEW YORK BANKERS ASSOCIATION REPRESENTS COMMUNITY, REGIONAL AND MONEY CENTER COMMERCIAL BANKS AND THRIFT INSTITUTIONS IN NEW YORK STATE. 35 35 16 561 7500 5915 0 0 3397816 4788982 4760540 1793303 7500 7500 8165856 6589785 7000 9000 0 0 3460873 3395441 0 0 0 2969262 2831440 6437135 6235881 1728721 353904 30855272 29703700 6461965 36832544 24393307 -7128844 X SEE SCHEDULE O. false false NYBA'S PRIMARY SERVICE IS TO PROMOTE THE GENERAL WELFARE AND USEFULNESS OF BANKS, TRUST COMPANIES AND BANKING ORGANIZATIONS AND ACTIVITIES CLOSELY RELATED TO BANKING AND FINANCIAL SERVICES AND TO ENCOURAGE THE HIGHEST POSSIBLE BANKING STANDARDS. NYBA IS A TRADE ASSOCIATION OF BANKS AND RELATED FINANCIAL INSTITUTIONS WHICH SHARE COMMON BUSINESS INTERESTS AND COMMON RESPONSIBILITIES TO GOVERNMENT, INDUSTRY AND COMMERCE AND TO CONSUMERS. NYBA OFFERED OVER 100 PROFESSIONAL DEVELOPMENT PROGRAMS, CONFERENCES AND MEETINGS THROUGHOUT THE YEAR. TRAINING PROGRAMS ARE DESIGNED FOR VARIOUS SEGMENTS OF THE BANKING COMMUNITY AND INCLUDE CLASSES ON SUCH TOPICS AS AGRIBUSINESS, TRUSTS AND ESTATES, CREDIT, COMPLIANCE AND SECURITY. THE PROGRAMMING WAS MADE AVAILABLE IN THE CLASSROOM, ONLINE, VIA AUDIO CONNECTION AND SELF-STUDY. THE LARGER MEETINGS INCLUDED AN ANNUAL CONVENTION, AND CONFERENCES TARGETED TO SPECIFIC INDUSTRY SEGMENTS, INCLUDING RETAIL AND SMALL BUSINESS, TRUST AND INVESTMENT, CEOS AND HUMAN RESOURCES, AND TECHNOLOGY PROFESSIONALS. false false false true false false false false false true false false false true true false true false false false false false false false false false false false true false false false false false false false false false false false true true true false true 14 0 true 16 true true true false false false false false true false X 35 35 false false true false true true true true true false false true true true true true true true true false X DRUCILLA MAHABIR 2122971661 99 PARK AVE 4TH FLOOR NEW YORK NY 100161502 X Michael P Smith President & CEO 40.0 0.0 X 1608534 0 74222 Clare Cusack GENERAL COUNSEL & SECRETARY 40.0 0.0 X 341153 0 24990 KAREN L ARMSTRONG SENIOR VICE PRESIDENT 40.0 0.0 X 266547 0 24329 DANIEL L BABB SENIOR VICE PRESIDENT 40.0 0.0 X 240324 0 23222 KIMBERLEY MENDELSOHN SENIOR VICE PRESIDENT 40.0 0.0 X 195612 0 26163 DRUCILLA MAHABIR CONTROLLER & VICE PRES. MIS 40.0 0.0 X 185782 0 20950 KONSTANTINOS KANANIS VP INS AND MEMBER SERVICES 40.0 0.0 X 142483 0 10990 MEGAN McGOVERN ASSISTANT GENERAL COUNSEL 40.0 0.0 X 129620 0 18687 DOROTHY HYNES DIRECTOR PROFIT SOLUTIONS 40.0 0.0 X 112956 0 16838 BARBARA LEBOFF EXECUTIVE ASSISTANT 40.0 0.0 X 106653 0 16460 Gregory B Braca Chair 2.0 0.0 X X 0 0 0 Thelma B Ferguson Vice Chair 2.0 0.0 X X 0 0 0 Martin K Birmingham Treasurer 2.0 0.0 X X 0 0 0 Donald E Gibson Immediate Past Chair 2.0 0.0 X X 0 0 0 Jeffrey H Barker Past Chair 2.0 0.0 X 0 0 0 John R Buran Past Chair 2.0 0.0 X 0 0 0 Gail E Cohen Past Chair 2.0 0.0 X 0 0 0 Martin A Dietrich Past Chair 2.0 0.0 X 0 0 0 Joseph R Ficalora Past Chair 2.0 0.0 X 0 0 0 Kevin M O'Connor Past Chair 2.0 0.0 X 0 0 0 Stephen S Romaine Past Chair 2.0 0.0 X 0 0 0 Thomas W Schneider Past Chair 2.0 0.0 X 0 0 0 Charles V Wait Past Chair 2.0 0.0 X 0 0 0 Brian E Hickey Government Relations Chair 2.0 0.0 X 0 0 0 Thomas J Murphy Govt Relations Vice Chair 2.0 0.0 X 0 0 0 Gerard F Joyce Jr Trust Division CHAIR 2.0 0.0 X 0 0 0 Brian A Howard Trust Division Vice Chair 2.0 0.0 X 0 0 0 Tami M Gunsch RetaIl Chair 2.0 0.0 X 0 0 0 Steven G Santino Retail Vice Chair 2.0 0.0 X 0 0 0 Thomas L Amell Education Committee Chair 2.0 0.0 X 0 0 0 Cheryl D Bowers Education Committee Vice Chair 2.0 0.0 X 0 0 0 Thomas E Ganey Profit Solutions Chair 2.0 0.0 X 0 0 0 Derrik R Wynkoop Asset Class II Representative 2.0 0.0 X 0 0 0 John M Tolomer Asset Class III Representative 2.0 0.0 X 0 0 0 Michael J Gilfeather Asset Class IV Representative 2.0 0.0 X 0 0 0 Mark E Tryniski Asset Class V Representative 2.0 0.0 X 0 0 0 Stephen R Rayo Asset Class VII Representative 2.0 0.0 X 0 0 0 Frank H Hamlin III Group Chair 1,2 2.0 0.0 X 0 0 0 Michael J Pollock Group Chair 3,4 2.0 0.0 X 0 0 0 Anders M Tomson Group Chair 5 2.0 0.0 X 0 0 0 Michael J Quinn Group Chair 6 2.0 0.0 X 0 0 0 Christopher Becker Group Chair 7 2.0 0.0 X 0 0 0 Howard P Milstein Group Chair 8 2.0 0.0 X 0 0 0 Michael J Horodyski AT Large-Director 2.0 0.0 X 0 0 0 Ira D Robbins AT Large-Director 2.0 0.0 X 0 0 0 KATHRYN M MALONEY Trust Div. Chair(Thru 9/28/19) 2.0 0.0 X 0 0 0 STEPHEN F GOBEL GROUP CHAIR (THRU 2/14/20) 2.0 0.0 X 0 0 0 3329664 0 256851 10 false true false Shenker Russo Clark LLP 121 State Street 4th Floor ALBANY NY 12207 LOBBYIST 303877 WithumSmithBrown PC 506 Carnegie Center Suite 400 PRINCETON NJ 08540 Accounting 163423 ERNST YOUNG PO BOX 640382 PITTSBURGH PA 15264 CONSULTING SVCS. 108475 3 0 BANK MEMBERSHIP DUES 813910 3432821 SERVICE MEMBER AND ASSOCIATE MEMBER FEES 813910 195728 EDUCATIONAL MEMBERSHIP FEES 813910 1160433 4788982 520890 520890 0 0 7500 7500 0 7500 7500 22814744 21542331 1272413 1272413 1272413 0 0 0 0 0 0 0 0 0 0 6589785 7500 1793303 9000 0 0 0 2839488 0 401736 31548 56987 65682 0 0 117382 473475 0 137731 0 25829 211490 3136 0 552849 43217 0 808559 189872 0 90298 49063 EXCISE TAX 126430 UBTI TAX 2109 6235881 X 302915 1340752 143907 144302 0 0 421172 385371 0 0 0 0 0 0 0 0 102431 170384 1507417 1215900 368415 291517 28825337 26977701 0 0 0 0 735 0 690360 393673 30855272 29703700 896115 708026 0 0 673430 31611997 0 0 0 0 0 0 0 0 4400000 4163895 492420 348626 6461965 36832544 X -29579141 -29951929 53972448 22823085 24393307 -7128844 30855272 29703700 X 353904 -694691 -31181364 X false true X true false false false true 3072236 1371727 11101 1382828 1536118 -153290 PART III-B, LINE 1 TOTAL DUES, ASSESSMENTS AND SIMILAR AMOUNTS FROM MEMBERS INCLUDES $1,769,849 OF DUES EQUIVALENTS FROM MEMBER BANKS. 826247 629440 196807 681170 586460 94710 291517 0 DEFERRED RENT 326022 DEFERRED COMPENSATION 22604 348626 X PART X, LINE 2 - FIN 48 DISCLOSURE The Association operates as a domestic not-for-profit corporation. The Association meets the requirements of Section 501(c)(6) of the Internal Revenue Code and, accordingly, is tax exempt. The subsidiaries owned by the Association, Circuit Agency, Inc. and New York Bankers Service Corporation, are for profit entities and are subject to federal, state and local taxes. The Association follows the accounting guidance dealing with accounting for income taxes, in reporting deferred income taxes. This accounting pronouncement requires a company to recognize deferred tax liabilities and assets for expected future income tax consequences of events that have been recognized in the Associations financial statements. Under this method, deferred tax assets and liabilities are determined based on temporary differences between the financial statement carrying amounts and the tax basis of assets and liabilities using the enacted tax rates in effect in the years in which the temporary differences are expected to reverse. At April 30, 2020 and 2019, there were no significant deferred income tax items. The Association follows the accounting guidance dealing with uncertain tax positions. The Association has no unrecognized tax benefits at April 30, 2020 and 2019. The Association files tax returns in the U.S. federal jurisdiction. The Association has no income tax related penalties or interest for the periods reported in these financial statements. X true true X X X X X false true false Michael P Smith President & CEO 1300871 0 300000 0 7663 0 14000 0 60222 0 1682756 0 0 0 Clare Cusack GENERAL COUNSEL & SECRETARY 305523 0 35000 0 630 0 14000 0 10990 0 366143 0 0 0 KAREN L ARMSTRONG SENIOR VICE PRESIDENT 240581 0 25000 0 966 0 13339 0 10990 0 290876 0 0 0 DANIEL L BABB SENIOR VICE PRESIDENT 218518 0 20000 0 1806 0 12232 0 10990 0 263546 0 0 0 DRUCILLA MAHABIR CONTROLLER & VICE PRES. MIS 158976 0 25000 0 1806 0 9495 0 11455 0 206732 0 0 0 KONSTANTINOS KANANIS VP INS AND MEMBER SERVICES 130677 0 10000 0 1806 0 0 0 10990 0 153473 0 0 0 KIMBERLEY MENDELSOHN SENIOR VICE PRESIDENT 175844 0 18500 1268 10175 0 15988 0 221775 0 0 0 AVERAGE HOURS PER WEEK BY FULL TIME PERSONNEL Full time salaried staff have been listed at an average 40 hour work week. However, based on work demands (including legislative imperatives, scheduling of major meetings and educational programs, reporting and other business and legal requirements) it is not uncommon for personnel to work more than 60 hours per week. PARTICIPATION IN NON-QUALIFIED RETIREMENT PLAN MICHAEL SMITH, CEO, RECEIVED $199,000 UNDER THE ASSOCIATION'S SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN. THIS AMOUNT IS INCLUDED IN THE TOTAL REPORTABLE COMPENSATION OF $1,608,534. PART III, LINE 1 TO PROMOTE THE GENERAL WELFARE AND USEFULNESS OF BANKS, TRUST COMPANIES AND BANKING ORGANIZATIONS AND ACTIVITIES CLOSELY RELATED TO BANKING AND FINANCIAL SERVICES AND TO ENCOURAGE THE HIGHEST POSSIBLE BANKING STANDARDS; TO PROVIDE A PROGRAM OF EDUCATION AND TRAINING OF BANKERS; TO CONDUCT RESEARCH AND REPORT UPON MATTERS OF GENERAL INTEREST TO BANKERS AND THE BANKING INDUSTRY; TO CONDUCT APPROPRIATE PUBLIC INFORMATION PROGRAMS; TO ADVOCATE AND PROMOTE BY PROPER MEANS THE ENACTMENT OF LEGISLATION AND THE PROMULGATION OF REGULATIONS FOSTERING ALIKE THE INTERESTS OF THE PUBLIC AND OF THE BANKING INDUSTRY; AND GENERALLY TO ACT AS A TRADE ASSOCIATION OF BANKS AND RELATED FINANCIAL INSTITUTIONS WHICH SHARE COMMON BUSINESS INTERESTS AND COMMON RESPONSIBILITIES TO GOVERNMENT, INDUSTRY AND COMMERCE AND TO CONSUMERS. PART IV - QUESTION 10 Upon further review of temporarily restricted funds, they were discovered to be member dues that are paid in advance with restrictions rather than temporarily restricted gifts and therefore the disclosure on Schedule D Part V is not required. PART VI-SECTION A- 6 & 7 MEMBERS THE ASSOCIATION IS MADE UP OF APPROXIMATELY 127 REGULAR MEMBERS. REGULAR MEMBERS ARE ANY FINANCIAL HOLDING COMPANY, BANK HOLDING COMPANY OR SAVINGS AND LOAN ASSOCIATION THAT CONTROLS ONE OR MORE BANKS OR THRIFT INSTITUTIONS, AS WELL AS ANY BANKS OR THRIFT INSTITUTIONS OWNED BY SUCH HOLDING COMPANIES AND ANY UNAFFILIATED BANK OR THRIFT INSTITUTION WITHIN THE STATE OF NEW YORK. THE ASSOCIATION ALSO HAS SERVICE MEMBERS AND FINANCIAL SERVICES INDUSTRY MEMBERS. THE BOARD IS COMPRISED OF REPRESENTATIVES FROM THE ASSOCIATION'S REGULAR MEMBERS; SUCH REPRESENTATIVES MUST BE WITHIN THE MOST SENIOR RANKS (USUALLY THE CEO) OF THE MEMBER'S OWN OFFICERS. EACH REGULAR MEMBER ON THE BOARD GETS ONE VOTE. A NOMINATING COMMITTEE OF THE BOARD APPROVES FOR CONSIDERATION BY THE ENTIRE REGULAR MEMBERSHIP, A SLATE OF OFFICERS ON AN ANNUAL BASIS. WHEN BANKS OR OTHER ENTITIES WISH TO BECOME ASSOCIATION MEMBERS, THEY COMPLETE AN APPLICATION PROCESS, AND THEN ARE PRESENTED TO THE ASSOCIATION BOARD FOR APPROVAL. THE FOLLOWING POSITIONS COMPRISE THE BOARD'S MAKEUP: CHAIR, VICE CHAIR, TREASURER, ONE IMMEDIATE PAST CHAIR, NINE PAST CHAIRS, CHAIR OF THE GOVERNMENT RELATIONS COUNCIL, VICE CHAIR OF THE GOVERNMENT RELATIONS COUNCIL, CHAIR OF THE RETAIL BANKING DIVISION, VICE CHAIR OF THE RETAIL BANKING DIVISION, CHAIR OF THE TRUST DIVISION, VICE CHAIR OF THE TRUST DIVISION, CHAIR OF THE PROFIT SOLUTIONS DIVISION, CHAIR OF THE EDUCATION COMMITTEE, VICE CHAIR OF THE EDUCATION COMMITTEE, ONE REPRESENTATIVE OF EACH OF THE ASSOCIATION'S SEVEN ASSET CLASSES, HOWEVER IN 2019-2020 THERE WERE NO REPRESENTATIVES FOR ASSET CLASS I AND VI, ONE REPRESENTATIVE OF EACH OF THE ASSOCIATION'S SIX REGIONAL GROUPS AND TWO AT-LARGE DIRECTORS. THE PRESIDENT OF THE ASSOCIATION IS AN EX-OFFICIO, NON-VOTING MEMBER OF THE BOARD OF DIRECTORS. THE ASSOCIATIONS GENERAL COUNSEL IS THE CORPORATE SECRETARY OF THE BOARD. PART VI-SECTION B-11 REVIEW OF FORM 990 BY GOVERNING BODY PRIOR TO FILING, THIS 990 WAS PREPARED AND REVIEWED BY THE ASSOCIATIONS CONTROLLER AND ITS OUTSIDE ACCOUNTANT. IT WAS ALSO REVIEWED BY THE ASSOCIATION'S GENERAL COUNSEL, AS WELL AS ITS PRESIDENT AND CEO AND THE EXECUTIVE COMMITTEE, WHICH IS CHAIRED BY THE ASSOCIATION CHAIRMAN. AT THE ASSOCIATION'S NOVEMBER 17, 2020 BOARD MEETING, ALL VOTING MEMBERS OF THE BOARD OF DIRECTORS WERE PROVIDED ACCESS TO A COPY OF THE ASSOCIATION'S COMPLETE AND FINAL FORM 990 (INCLUDING ALL SCHEDULES) WHICH WAS AVAILABLE FOR REVIEW PRIOR TO FILING. PART VI-SECTION B-12 CONFLICT OF INTEREST POLICY THE ASSOCIATION HAS A WRITTEN CONFLICT OF INTEREST POLICY IN PLACE FOR ALL EMPLOYEES AND BOARD MEMBERS. ALL TRANSACTIONS RELATIVE TO GENERAL BUSINESS OPERATIONS OF THE ASSOCIATION ARE ROUTINELY SCRUTINIZED BY SENIOR MANAGEMENT FOR CONFLICTS OF INTEREST WITH MEMBERS. ALL POTENTIAL CONFLICTS OF INTEREST RELATIVE TO THE FINANCIAL INTERESTS OF THE ASSOCIATION (SUCH AS WITH RESPECT TO THE MANAGEMENT OF ITS FUNDS) ARE ALSO ROUTINELY SCRUTINIZED BY THE EXECUTIVE COMMITTEE OF THE BOARD. AFTER THE OFFICERS AND EXECUTIVE COMMITTEE CONCLUDE THEIR DUE DILIGENCE ON THESE MATTERS, BOARD RATIFICATION OF THE RELATIONSHIP IS REQUIRED. BOARD MEMBERS AND EMPLOYEES ARE REQUIRED TO ASSERT THEIR FAMILIARITY WITH AND ADHERENCE TO THE POLICY ON AN ANNUAL BASIS. PART VI-SECTION B-15 DETERMINATION OF COMPENSATION FROM TIME TO TIME A COMPENSATION STUDY IS PERFORMED BY OUTSIDE CONSULTANTS ON THE CEO, AND OTHER SELECT KEY EMPLOYEES. THE COMPENSATION COMMITTEE USES THE FORMAL STUDY AS THE BASIS FOR THE CEO COMPENSATION AND OTHER SELECT OFFICERS AND KEY EMPLOYEES OF THE ASSOCIATION. THE CEO HAS AN EMPLOYMENT CONTRACT AND THE COMMITTEE REVIEWS THIS WHEN DETERMINING ANNUAL INCREASES AND BONUSES. PART VI-SECTION C-19 AVAILABILITY OF GOVERNING DOCUMENTS THE ASSOCIATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. PART VI-SECTION A-4 CHANGES TO BYLAWS THE FOLLOWING CHANGES TO THE ORGANIZATION'S BYLAWS WERE ENACTED DURING THE CURRENT FISCAL YEAR: 1. Creation of an Audit Committee 2. Provide flexibility for the appointment of At Large members 3. Provide flexibility for Trust and Retail Division elections and appointments process 4. Update of practices to allow for further voluntary contribution to NCF 5. Provide more flexibility for determination of Asset Classes PART VI-SECTION A-7 GOVERNING BODY AND MANAGEMENT THE ASSOCIATION'S MEMBERS HAVE VOTING POWERS FOR NEW MEMBERS, AS WELL AS CERTAIN DIRECTIVES OF THE ASSOCIATION. PART VII- RELATED ORGANIZATION COMPENSATION NEW YORK BANKERS ASSOCATIONS, INC. ACTS AS THE COMMON PAYMASTER FOR THE ASSOCIATION AS WELL AS OTHER RELATED ORGANIZATIONS. COMPENSATION AND BENEFITS AS NOTED, ARE ALLOCATED TO OTHER RELATED ORGANIZATIONS AS FOLLOWS: EMPLOYEE COMPENSATION BENEFITS MICHAEL P SMITH 63,092 15,773 DANIEL L BABB 253,280 63,320 DRUCILLA MAHABIR 79,522 19,880 KONSTANTINOS KANANIS 139,802 34,951 DOROTHY R HYNES 116,443 29,111 CLARE CUSACK 18,044 4,511 PART XI, LINE 9 - OTHER CHANGES IN NET ASSETS: DUE TO THE ASSOCIATION'S ADOPTION OF ASC 606 (REVENUE FROM CONTRACTS WITH CUSTOMERS) AS OF MAY 1, 2018, THE ASSOCIATION RECOGNIZED AN OPENING BALANCE ADJUSTMENT TO NET ASSETS OF $(31,181,364). 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