2025-12-03T13:38:34-05:00 2025-04-30 WITHUMSMITHBROWN PC 506 CARNEGIE CENTER STE 400 PRINCETON NJ 085406243 990 2024-05-01 131882974 NEW YORK BANKERS ASSOCIATION INC % DRUCILLA MAHABIR NEWY 2122971661 99 PARK AVENUE SUITE 1700 NEW YORK NY 10016 DRUCILLA MAHABIR CONTROLLER 2122971661 2025-12-01 true true RICHARD RUVELSON P00234075 6095201188 2024 2025-03-06 01:10:19Z DRUCILLA MAHABIR 99 PARK AVENUE SUITE 1700 NEW YORK NY 10016 20286642 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. 26 26 13 492 6750 5192 0 0 4712085 4493132 1191386 2387691 7200 6750 5910671 6887573 2420 1750 0 0 2383564 2439357 0 0 0 2919203 2857079 5305187 5298186 605484 1589387 33778757 33588542 34477172 32358492 -698415 1230050 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 500 TRAINING PROGRAMS THROUGHOUT THE YEAR, AS WELL AS CONFERENCES AND MEETINGS TO SERVE VARIOUS SEGMENTS OF OUR MEMBERSHIP. A WIDE RANGE OF TRAINING PROGRAMS ARE OFFERED THROUGH OUR EDUCATION PARTNERS. CONFERENCES AND MEETINGS ARE DESIGNED IN-HOUSE BY NYBA. THE PROGRAMMING WAS MADE AVAILABLE IN THE CLASSROOM ONLINE VIA AUDIO CONNECTION AND SELF-STUDY. THE LARGER MEETING INCLUDED AN ANNUAL CONVENTION, A CONFERENCE TARGETED TO SPECIFIC INDUSTRY SEGMENTS, SUCH AS RETAIL AND SMALL BUSINESS, TRUST AND INVESTMENT, RISK MANAGEMENT, COMPLIANCE COMMUNITY BANK CEOS, LEADERSHIP DEVELOPMENT, DEI, HUMAN RESOURCES AND LEGISLATIVE ACTIVITY. false false false true false false false false false true false false true 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 17 0 true 13 true true true false false false false false false false X 26 26 false false false false true true true true true false false true true true true true true true true false X DRUCILLA MAHABIR 2122971661 99 PARK AVENUE SUITE 1700 NEW YORK NY 10016 X Clare M Cusack President & CEO 40.0 0.0 X 751527 0 45688 KAREN ARMSTRONG EXECUTIVE VICE PRESIDENT 40.0 0.0 X 313490 0 15584 NIALL O'HEGARTY GENERAL COUNSEL 40.0 0.0 X 308914 0 0 DRUCILLA MAHABIR CONTROLLER & VP MIS 40.0 0.0 X 209678 0 26311 BRENT WEITZBERG VICE PRESIDENT, GOVERNMENT REL 40.0 0.0 X 150287 0 26022 KONSTANTINOS KANANIS VICE PRESIDENT 40.0 0.0 X 144264 0 22513 BARBARA LEBOFF PROJECT COORDINATOR 40.0 0.0 X 121803 0 5860 JILL CAMPBELL CHIEF OF STAFF 40.0 0.0 X 106618 0 18399 Martin K Birmingham Chair 2.0 0.0 X X 0 0 0 Thomas L Amell Vice Chair 2.0 0.0 X X 0 0 0 Christopher Becker Treasurer & Invest Fund Chair 2.0 0.0 X X 0 0 0 Michael J Gilfeather Immediate Past Chair 2.0 0.0 X X 0 0 0 John R Buran Past Chair 2.0 0.0 X 0 0 0 Donald E Gibson Past Chair 2.0 0.0 X 0 0 0 Stephen S Romaine Past Chair 2.0 0.0 X 0 0 0 Charles V Wait Past Chair 2.0 0.0 X 0 0 0 Anders M Tomson Government Relations Chair 2.0 0.0 X 0 0 0 Derrik R Wynkoop Govt Relation Vice Chair 2.0 0.0 X 0 0 0 Sam Guerrieri Trust Division Chair 2.0 0.0 X 0 0 0 Ruth H Mahoney Trust Division Vice Chair 2.0 0.0 X 0 0 0 Michael Bingold Retail Division Chair 2.0 0.0 X 0 0 0 Jesse A Tomczak Retail Division Vice Chair 2.0 0.0 X 0 0 0 Cheryl D Bowers Education Division Chair 2.0 0.0 X 0 0 0 Thomas E Ganey Profit Solutions Div Chair 2.0 0.0 X 0 0 0 Michael J Horodyski Asset Class II Representative 2.0 0.0 X 0 0 0 William C Calderara Asset Class IV Representative 2.0 0.0 X 0 0 0 Richard J McCarthy Jr Asset Class VI Representative 2.0 0.0 X 0 0 0 Marc J Perez Asset Class VII Representative 2.0 0.0 X 0 0 0 Frank H Hamlin III Western Region 2.0 0.0 X 0 0 0 Mark R Lavarnway Southern Tier & Central Region 2.0 0.0 X 0 0 0 Michael J Quinn Hudson Valley/Westchester Reg 2.0 0.0 X 0 0 0 Howard P Milstein New York City Region 2.0 0.0 X 0 0 0 Ira D Robbins At-Large Director 2.0 0.0 X 0 0 0 Andrew Kresse Member 2.0 0.0 X 0 0 0 Thelma B Ferguson Past Chair (thru 4/14/2025) 2.0 0.0 X 0 0 0 Martin A Dietrich Past Chair (thru 4/14/2025) 2.0 0.0 X 0 0 0 Christopher C Giamo At-Large Dir (thru 12/4/2024) 2.0 0.0 X 0 0 0 2106581 0 160377 8 false true false Shenker Russo Clark LLP 121 State Street 4th Floor ALBANY NY 12207 STATE LOBBYIST 296204 WITHUMSMITHBROWN PC 506 CARNEGIE CENTER SUITE 400 PRINCETON NJ 08540 ACCOUNTING 136141 Vault Consulting LLC 8401 Greensboro Drive Suite 500 MCLEAN VA 22102 Fractional CFO 132634 3 0 BANK MEMBERSHIP DUES 813910 3377592 3377592 EDUCATIONAL MEMBERSHIP FEES 813910 984540 984540 SERVICE MEMBER AND ASSOCIATE MEMBER FEES 813910 131000 131000 4493132 621915 621915 0 0 6750 6750 0 6750 6750 15164845 13399069 1765776 1765776 1765776 0 0 0 0 0 0 0 0 0 0 6887573 4493132 6750 2387691 1750 0 0 0 1422952 0 813625 46981 60426 95373 0 0 70000 427200 0 141912 242682 72695 175846 51473 0 578850 53745 0 739345 98384 0 135259 67730 UBI TAX 1958 5298186 X 665922 449307 472255 483720 0 0 162910 147329 0 0 0 0 0 0 0 0 221150 141171 1132795 587065 636143 545730 26681522 27313429 0 0 0 0 0 0 4938855 4507856 33778757 33588542 541914 782077 0 0 25699177 24587063 0 0 0 0 0 0 0 0 2573017 2131717 5663064 4857635 34477172 32358492 X -23521500 -21593035 22823085 22823085 -698415 1230050 33778757 33588542 1589387 339078 X false true X true false false false true 1896810 1476306 256896 1733202 948405 784797 PART III-B, LINE 1 TOTAL DUES, ASSESSMENTS AND SIMILAR AMOUNTS FROM MEMBERS INCLUDES $1,643,620 OF DUES EQUIVALENTS FROM MEMBER BANKS. 1132795 587065 545730 545730 RIGHT OF USE ASSET 4280324 INVESTMENTS IN SUBSIDIARIES 155035 ACCRUED INTEREST RECEIVABLE 72497 4507856 0 DEFERRED RENT 4857635 4857635 X PART X, LINE 2 - FIN 48 DISCLOSURE New York Bankers Association, Inc. operates as a domestic not-for-profit corporation. New York Bankers Association, Inc. meets the requirements of Section 501(c)(6) of the Internal Revenue Code and, accordingly, is tax exempt. The subsidiaries owned by the New York Bankers Association, Inc., 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 Association's consolidated financial statements. Under this method, deferred tax assets and liabilities are determined based on temporary differences between the consolidated 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, 2025 and 2024, 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, 2025 and 2024. 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 consolidated financial statements. X X X X X false true false Clare M Cusack President & CEO 560280 0 178281 0 12966 0 17250 0 28438 0 797215 0 0 0 KAREN ARMSTRONG EXECUTIVE VICE PRESIDENT 291684 0 20000 0 1806 0 15584 0 0 0 329074 0 0 0 NIALL O'HEGARTY GENERAL COUNSEL 268500 0 40000 0 414 0 0 0 0 0 308914 0 0 0 DRUCILLA MAHABIR CONTROLLER & VP MIS 197678 0 12000 0 0 0 10484 0 15827 0 235989 0 0 0 KONSTANTINOS KANANIS VICE PRESIDENT 141492 0 0 0 2772 0 7075 0 15438 0 166777 0 0 0 BRENT WEITZBERG VICE PRESIDENT, GOVERNMENT REL 137855 0 12000 0 432 0 4496 0 21526 0 176309 0 0 0 SCHEDULE J, PART I, LINE 4B CLARE CUSACK, CEO, PARTICIPATES IN THE ASSOCIATION'S EXECUTIVE DEFERRED COMPENSATION PLAN (CODE SECTION 457F PLAN) EFFECTIVE JANUARY 1, 2021 AND THE ASSOCIATION MADE A CONTRIBUTION TO THE PLAN FOR CLARE OF $123,898 FOR THE FISCAL YEAR 2024 TO 2025. 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 VI - SECTION A-6 MEMBERS THE ASSOCIATION IS MADE UP OF APPROXIMATELY 102 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. 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 VI-SECTION B-11 REVIEW OF FORM 990 BY GOVERNING BODY PRIOR TO FILING, THIS 990 WAS PREPARED AND REVIEWED BY THE ASSOCIATION'S 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 5, 2025 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 VII, Section A, Column B 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. 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 NAME COMPENSATION ------------- ------------ NIALL O'HEGARTY $150,150 DRUCILLA MAHABIR $149,770 KONSTANTINOS KANANIS $141,492 CLARE CUSACK $113,568 JILL CAMPBELL $ 13,500 NY STATE BANKERS RETIREMENT SYSTEM 99 PARK AVE SUITE 1700 NEW YORK NY 10016 131882974 PENSION TRUST NY 401(A) N/A NA false NYBA POLITICAL ACTION COMMITTEE (STATE) 99 PARK AVE SUITE 1700 NEW YORK NY 10016 134127770 PAC NY 527 N/A NYBA true NYBA POLITICAL ACTION COMMITTEE (FED) 99 PARK AVE SUITE 1700 NEW YORK NY 10016 131882974 PAC NY 527 N/A NYBA true NEW YORK BANKERS COMMUNITY PAC 99 PARK AVE SUITE 1700 NEW YORK NY 10016 131882974 PAC NY 527 N/A NYBA true CIRCUIT AGENCY INC 99 PARK AVE SUITE 1700 NEW YORK NY 10016 133419085 INSURANCE SVC NY NYBA C CORP -1432 37711 1.00000 true NEW YORK BANKERS SERVICE CORPORATION INC 99 PARK AVE SUITE 1700 NEW YORK NY 10016 133691959 MRKT PROD & S NY NYBA C CORP 8664 253780 1.00000 true true false false false false false false false false false false false false true true false true false false NYS BANKERS GROUP CREDITORS TRUST N 141519 FMV NYS BANKERS GROUP CREDITORS TRUST O 313750 FMV NYS BANKERS GROUP EMPLOYEE TRUST O 42500 FMV NEW YORK BANKERS RETIREMENT SYSTEM O 115000 FMV NEW YORK BANKERS SERVICE CORPORATION INC O 306250 FMV