2019-11-06T07:44:02-06:00 2018-12-31 042689883 WOLF & COMPANY PC 99 HIGH STREET 21ST FLOOR BOSTON MA 02110 990 2018-01-01 041589780 MASSACHUSETTS BANKERS ASSOCIATION INC MASS 6175237595 ONE WASHINGTON MALL 8TH FLOOR BOSTON MA 021082603 FRANCESCA BERTOLINO SVP/CFO 6175237595 2019-11-05 1 HARRY A KALAJIAN JR CPA P00464296 6174399700 199.167.121.238 2019-11-06 07:29:24 ES P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 3035F85F9C36F92B25132AD5EF9C80758CB5F135 2018 2020-01-14 16:20:31Z FRANCESCA G BERTOLINO ONE WASHINGTON MALL 8TH FLOOR BOSTON MA 021082603 7469887 0 X WWW.MASSBANKERS.ORG X 1905 MA THE MBA WILL REPRESENT AND PROMOTE THE INTERESTS OF ITS MEMBER INSTITUTIONS AND THOSE OF THE MASSACHUSETTS AND NEW ENGLAND BANKING INDUSTRY OVERALL. 20 20 23 20 161626 148473 2580493 2599266 3980255 3857821 645979 -126222 20617 14758 7227344 6345623 0 0 0 0 3462470 2849618 0 0 0 3148121 3016373 6610591 5865991 616753 479632 10993838 11568622 3141677 2845750 7852161 8722872 X THE MASSACHUSETTS BANKERS ASSOCIATION REPRESENTS AND PROMOTES THE INTERESTS OF ITS MEMBER INSTITUTIONS AND THOSE OF THE MASSACHUSETTS AND NEW ENGLAND BANKING INDUSTRY OVERALL, AS WELL AS OFFERS QUALITY SERVICES THAT MEET THE NEEDS OF ITS BROAD-BASED CONSTITUENCY. THE MASSACHUSETTS BANKERS ASSOCIATION CARRIES OUT ITS MANDATE THROUGH LEGISLATIVE AND REGULATORY INITIATIVES, EDUCATION, MEDIA AND PUBLIC RELATIONS, CONSUMER EDUCATION, AND ASSISTS ITS MEMBERS TO COMPETE EFFECTIVELY IN A RAPIDLY EVOLVING FINANCIAL-SERVICES INDUSTRY. 0 0 THE MASSACHUSETTS BANKERS ASSOCIATION REPRESENTS AND PROMOTES THE INTERESTS OF ITS MEMBER INSTITUTIONS AND THOSE OF THE MASSACHUSETTS AND NEW ENGLAND BANKING INDUSTRY OVERALL, AS WELL AS OFFERS QUALITY SERVICES THAT MEET THE NEEDS OF ITS BROAD-BASED CONSTITUENCY. THE MASSACHUSETTS BANKERS ASSOCIATION CARRIES OUT ITS MANDATE THROUGH LEGISLATIVE AND REGULATORY INITIATIVES, EDUCATION, MEDIA AND PUBLIC RELATIONS, CONSUMER EDUCATION, AND ASSISTS ITS MEMBERS TO COMPETE EFFECTIVELY IN A RAPIDLY EVOLVING FINANCIAL-SERVICES INDUSTRY. 0 0 0 1 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 0 0 1 1 1 0 1 38 0 1 23 1 1 1 0 0 0 0 0 0 0 X 20 20 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X FRANCESCA BERTOLINO 6175237595 ONE WASHINGTON MALL 8TH FL BOSTON MA 021082603 KEVIN M TIERNEY DIRECTOR 1.00 X 0 0 0 DONNA L BOULANGER DIRECTOR 1.00 X 0 0 0 PETER G BROWN DIRECTOR 1.00 X 0 0 0 DONALD P GILL VICE CHAIRMAN 1.00 X X 0 0 0 CHARLES P O'BRIEN IMMEDIATE PAST CHAIRMAN 1.00 X X 0 0 0 MARK A CRANDALL DIRECTOR 1.00 X 0 0 0 STEVEN E LOWELL DIRECTOR 1.00 X 0 0 0 THOMAS L MORTIMER DIRECTOR 1.00 X 0 0 0 JONATHAN W PIERCE DIRECTOR 1.00 X 0 0 0 PATRICK J MURRAY JR TREASURER 1.00 X X 0 0 0 WILLIAM M PARENT CHAIRMAN 1.00 X X 0 0 0 SUSHIL K TULI DIRECTOR 1.00 X 0 0 0 MARK R O'CONNELL DIRECTOR 1.00 X 0 0 0 SANDRA J PATTIE DIRECTOR 1.00 X 0 0 0 PATRICK J SULLIVAN DIRECTOR 1.00 X 0 0 0 JOHN R WISEMAN DIRECTOR 1.00 X 0 0 0 MARK R HARANAS DIRECTOR 1.00 X 0 0 0 ROBERT J FRASER DIRECTOR 1.00 X 0 0 0 MICHAEL MCAULIFFE DIRECTOR 1.00 X 0 0 0 GIRARD R SARGENT DIRECTOR 1.00 X 0 0 0 DANIEL J FORTE PRESIDENT & CEO 40.00 X 700585 0 41285 JON KARL SKARIN CLERK EVP LEGISTLATIVE & REGULATORY POLICY 40.00 X 320858 0 43547 KEVIN F KILEY OF COUNSEL 40.00 X 238602 0 16500 FRANCESCA G BERTOLINO SVP/CFO 40.00 X 179455 0 19400 BEN CRAIGIE DIR OF COMPLIANCE & TRAINI 40.00 X 134790 0 24775 TANYA M DUNCAN SVP CORPORATE POLICY 40.00 X 209322 0 29843 SCOTT GORMAN GIT ADMINISTRATION 40.00 X 136383 0 16775 1919995 0 192125 11 0 1 0 BABSON EXECUTIVE CONFERENCE CENTER ONE EXECUTIVE EDUCATION CIRCLE BABSON PARK MA 02457 BANKER CLASSES 377132 1 2599266 2599266 SEMINARS 900099 1573719 1573719 ANNUAL CONVENTION 900099 761175 761175 SCHOOL INCOME 900099 599117 599117 ADMINISTRATIVE FEE 900003 419492 337086 82406 ROYALTY INCOME 900099 359240 359240 145078 65858 79220 3857821 172936 172936 825106 1124264 -299158 -299158 -299158 MISC REVENUE 900099 14758 14758 14758 6345623 3710953 161626 -126222 1021443 1567871 -137655 254270 143689 96000 37829 43543 39965 118031 345516 36212 1912215 75456 41884 GOVERNMENT/MEMBER RELAT 65403 TAXES 49635 BENEFIT ADMIN FEES 28745 COST OF PUBLICATIONS & 26296 99643 5865991 1091332 999995 1185462 1097369 24300 78749 115056 1601495 2521558 791264 603967 183170 187297 6306382 6085724 404005 359365 118943 202258 10993838 11568622 720000 738260 1152009 874608 1269668 1232882 3141677 2845750 X 7650033 8530934 202128 191938 7852161 8722872 10993838 11568622 X 479632 140943 250136 X X 0 1 X 1 0 0 0 1 2599266 293898 293898 470467 -176569 SCHEDULE C, PART I-A, LINE 1 - LOBBYING THE ASSOCIATION HIRES LEGISLATIVE COUNSEL TO ASSIST ON CERTAIN REGULATORY AND LEGISLATIVE ISSUES ON BEHALF OF MEMBERS AT THE STATE LEVEL. 41442 41442 0 640415 466595 173820 109407 95930 13477 187297 ACCRUED PENSION & SERP LIABILITY 1232882 1232882 X PART X, LINE 2: THE ASSOCIATION IS AN ORGANIZATION AS CONTEMPLATED BY IRC SECTION 501(C)(6) AND IS GENERALLY EXEMPT FROM INCOME TAXES UNDER IRC SECTION 501(A). THE ASSOCIATION'S FOR-PROFIT SUBSIDIARIES ARE SUBJECT TO FEDERAL AND STATE INCOME TAXATION. THE PROVISION FOR INCOME TAXES FOR THE ASSOCIATION'S FOR-PROFIT SUBSIDIARIES FOR THE YEARS ENDED DECEMBER 31, 2018 AND 2017, WHICH IS INCLUDED IN GENERAL AND ADMINISTRATIVE EXPENSES, IS COMPRISED OF THE FOLLOWING AMOUNTS: CURRENT: 2018 2017 FEDERAL $ 57,776 $ 92,011 STATE 29,206 29,814 TOTAL PROVISION FOR INCOME TAXES $86,982 $ 121,825 INCLUDED IN THE PROVISION FOR INCOME TAXES WAS $44,138 AND $7,268 IN UBIT FOR THE YEARS-ENDED DECEMBER 31, 2018 AND 2017, RESPECTIVELY. TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN THE COURSE OF PREPARING THE ASSOCIATION'S AND ITS FOR-PROFIT SUBSIDIARIES TAX RETURNS ARE REQUIRED TO BE EVALUATED TO DETERMINE WHETHER THE TAX POSITIONS ARE "MORE-LIKELY-THAN-NOT" OF BEING SUSTAINED BY THE APPLICABLE TAX AUTHORITY. TAX POSITIONS NOT DEEMED TO MEET A MORE-LIKELY-THAN-NOT THRESHOLD WOULD BE RECORDED AS A TAX EXPENSE IN THE CURRENT YEAR. THERE WERE NO UNCERTAIN TAX POSITIONS THAT REQUIRE ACCRUAL OR DISCLOSURE TO THE CONSOLIDATED FINANCIAL STATEMENTS AS OF DECEMBER 31, 2018 AND 2017. ALL TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AND STATE TAX AUTHORITIES AND ARE CURRENTLY OPEN TO AUDIT UNDER THE APPLICABLE STATUTES OF LIMITATION BY THE INTERNAL REVENUE SERVICE AND VARIOUS STATES FOR THE YEARS ENDED DECEMBER 31, 2015 THROUGH 2018. X X 1 1 X X X X X 0 0 0 DANIEL J FORTE PRESIDENT & CEO 504300 0 185000 0 11285 0 16500 0 24785 0 741870 0 0 0 JON KARL SKARIN CLERK EVP LEGISTLATIVE & REGULATORY POLICY 275000 0 45000 0 858 0 16500 0 27047 0 364405 0 0 0 KEVIN F KILEY OF COUNSEL 150000 0 72000 0 16602 0 16500 0 0 0 255102 0 0 0 FRANCESCA G BERTOLINO SVP/CFO 158381 0 17700 0 3374 0 10565 0 8835 0 198855 0 0 0 BEN CRAIGIE DIR OF COMPLIANCE & TRAINI 116466 0 18000 0 324 0 8068 0 16707 0 159565 0 0 0 TANYA M DUNCAN SVP CORPORATE POLICY 185000 0 22000 0 2322 0 11585 0 18258 0 239165 0 0 0 SCOTT GORMAN GIT ADMINISTRATION 123188 0 10661 0 2534 0 0 0 16775 0 153158 0 0 0 PART I, LINE 1A TRAVEL FOR COMPANIONS - SPOUSES ARE ALLOWED TO TRAVEL WITH SENIOR STAFF ON OCCASION FOR BUSINESS PURPOSES. SEE PART V 0 0 SCHEDULE L, PART IV - BUSINESS TRANSACTIONS THE MASSACHUSETTS BANKERS ASSOCIATION IS THE BANKING TRADE ORGANIZATIONREPRESENTING FINANCIAL INSTUTUTIONS IN MASSACHUSETTS AND OTHER NEWENGLAND STATES. MEMBERS OF ITS BOARD OF DIRECTORS ARE PRESIDENTS ANDSENIORS POLICY-LEVEL OFFICERS OF MEMBER FINANCIAL INSTITUTIONS; SEVERALOF WHOM SERVE ON THE BOARD'S OF DIRECTORS OF OTHER BANK INDUSTRYRELATED ORGANIZATIONS AS PART OF THEIR COMMITMENT TO THE FINANCIALINDUSTRY. FORM 990, PART VI, SECTION A, LINE 6 MASSACHUSETTS BANKERS ASSOCIATION IS A TRADE ASSOCIATION WHOSE MEMBERS CONSIST OF COMMERCIAL, SAVINGS & COOPERATIVE BANKS AS WELL AS SAVINGS & LOAN ASSOCIATIONS, INCLUDING COMMUNITY, REGIONAL AND NATIONAL BANKS. IT HAS ASSOCIATE MEMBERS WHO ARE PROVIDERS OF GOODS AND SERVICES TO THE BANKING INDUSTRY. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS VOTE FOR THE ASSOCIATION'S OFFICERS AND BOARD OF DIRECTORS AT THE ANNUAL MEETING. MEMBERS ALSO VOTE ON ALL BUSINESS PRESENTED AT THE MEETING. FORM 990, PART VI, SECTION A, LINE 7B THE MEMBERS VOTE FOR THE ASSOCIATION'S OFFICERS AND BOARD OF DIRECTORS AT THE ANNUAL MEETING. MEMBERS ALSO VOTE ON ALL BUSINESS PRESENTED AT THE MEETING. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY THE ASSOCIATION'S AUDITING FIRM AND REVIEWED BY ASSOCIATION STAFF, MANAGEMENT AND AUDIT COMMITTEE. THE FORM 990 WILL BE DISTRIBUTED TO THE AUDIT COMMITTEE FOR REVIEW PRIOR TO FILING WITH THE IRS. ALL FINANCIAL STATEMENTS INCLUDING TAX FILINGS ARE REVIEWED BY THE AUDIT COMMITTEE AND THE BOARD ANNUALLY. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS REVIEWED AND APPROVED ANNUALLY BY THE BOARD AND MONITORED/ENFORCED AS OUTLINED BY THE POLICY SHOULD ISSUES ARISE. FORM 990, PART VI, SECTION B, LINE 15 THE ASSOCIATION HAS A WRITTEN POLICY WHICH REQUIRES REVIEW AND APPROVAL OF ALL OFFICER COMPENSATION BY THE EXECUTIVE COMPENSATION COMMITTEE, AS WELL AS FULL BOARD OF DIRECTORS' APPROVAL OF THE PRESIDENT'S AND EXECUTIVE VICE PRESIDENTS' COMPENSATION. A VARIETY OF RESOURCES INCLUDING THIRD PARTY CONSULTANT ASSISTANCE AND SALARY DATA ARE UTILIZED. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS FILED WITH THE SECRETARY OF STATE AND ARE AVAILABLE TO THE GENERAL PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: FAS 158 PENSION COSTS 360,971. UNREALIZED GAIN/(LOSSES) IN SERP ASSETS -110,835. FORM 990, PART XII, LINE 2C: REVIEW OF FINANCIAL STATEMENTS THE ASSOCIATION'S AUDIT COMMITTEE CONSISTING OF BOARD MEMBERS, AS WELL AS THE FULL BOARD OF DIRECTORS, REVIEWS AND APPROVES THE AUDITED FINANCIAL STATEMENTS. MBA CHARITABLE FOUNDATION INC ONE WASHINGTON MALL 8TH FLOOR BOSTON MA 02108 043325424 PROVIDE GRANT MA 501(C)(3) PF MBA 1 MBA SCHOLARSHIP FOUNDATION ONE WASHINGTON MALL 8TH FLOOR BOSTON MA 02108 043460557 PROVIDE GRANT MA 501(C)(3) PF MBA 1 MBA SERVICE CORPORATION ONE WASHINGTON MALL 8TH FLOOR BOSTON MA 021082603 043226018 ADMINISTRATIVE MA MBA C 270940 1.00000 0 MASSACHUSETTS FINANCIAL SERVICES INS ONE WASHINGTON MALL 8TH FLOOR BOSTON MA 021082603 042680895 INSURANCE MA MBA SVC CORP C 1393406 2113533 1.00000 0 NEW ENGLAND FINANCIAL SERVICES INS ONE WASHINGTON MALL 8TH FLOOR BOSTON MA 021082603 061031959 INSURANCE MA MBA SVC CORP C 185093 457895 1.00000 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 NEW ENGLAND FINANCIAL SERVICES INS AGENCY A 9191 FMV MASSACHUSETTS FIN SERVICES INS AGENCY A 73215 FMV NEW ENGLAND FINANCIAL SERVICES INS AGENCY Q 72837 ACTUAL EXP MASSACHUSETTS FIN SERVICES INS AGENCY Q 264251 ACTUAL EXP