2017-07-11T10:49:44-07:00 2016-08-31 990 2015-09-01 521001304 AMERICAN BANKERS ASSOCIATION AMER 2026635054 1120 Connecticut Ave NW Washington DC 20036 Robert Eady Chief Financial Officer 2026635054 2017-07-12 2015 2021-01-29 14:40:06Z ROB S NICHOLS 1120 CONNECTICUT AVE NW WASHINGTON DC 20036 138236253 0 X www.aba.com X 1875 DC THE AMERICAN BANKERS ASSOCIATION IS A BUSINESS LEAGUE THAT PURSUES ADVOCACY, PROVIDES EDUCATION, PRODUCTS AND SOLUTIONS TO ITS MEMBERSHIP AND THE FINANCIAL SERVICES INDUSTRY GENERALLY. 27 25 392 1200 1548568 0 0 0 73611485 77021098 6221080 3704023 22942233 24212206 102774798 104937327 107500 21100 0 0 58463952 63668659 0 0 0 35729234 36724174 94300686 100413933 8474112 4523394 167782781 183255967 149599871 177294111 18182910 5961856 The ABA's mission is to be a member-focused organization that provides advocacy, education, business solutions, and forums for an exchange of views and information that assists our members in providing financial services to their communities in compliance with the complex and challenging regulatory and statutory environment that governs their operations. 0 0 Convention, conferences, schools and remote learning opportunities: The financial services industry is a highly regulated industry that requires constant education on the changing rules including new or enhanced regulation, supervision and oversight. ABA offers opportunities for gaining insight and greater understanding through in-person meetings, onsite schools and at-the-desk offerings including telephone briefings, webinars and internet classes. Publications, products and services: The ABA offers books, toolkits, several magazines, e-bulletins, and a variety of products and services in an effort to educate and facilitate the continued compliance and competitiveness of the industry it serves. Membership Relations and Communications: ABA outreaches to its membership through a number of communication tools including daily email news, weekly summaries, its website, and briefings on the changing advocacy and regulatory issues. These efforts facilitate the development of ABA's policy positions and provide the membership and others with the background and tools for further use in their local communities. 0 0 0 0 0 0 0 1 0 0 0 0 0 1 0 0 1 1 1 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 1 0 1 382 0 1 392 1 1 1 0 0 0 1 1 0 X 27 25 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 1 1 X Barry Epstein 2026635054 1120 Connecticut Ave NW Washington DC 20036 A Scott Anderson Board Member 1 0 X 0 0 0 Howard T Boyle II Board Member 1 0 X 0 0 0 Rheo A Brouillard Board Member 1 0 X 0 0 0 Deborah A Cole Board Member 1 0 X 0 0 0 Luther Deaton Jr Board Member 1 0 X 0 0 0 Charles N Funk Board Member 1 0 X 0 0 0 Paul G Greig Board Member 1 0 X 0 0 0 George W Hermann Board Member 1 0 X 0 0 0 John A Klebba Board Member 1 0 X 0 0 0 Manolo Sanchez Board Member 1 0 X 0 0 0 Thomas H Shaffer Board Member 1 0 X 0 0 0 Frank Sorrentino Board Member 1 0 X 0 0 0 Jeffrey M Szyperski Board Member 1 0 X 0 0 0 Julieann M Thurlow Board Member 1 0 X 0 0 0 Gregg L Vandaveer Board Member 1 0 X 0 0 0 Edward L Willingham IV Board Member 1 0 X 0 0 0 Paul V Woolway Board Member 1 0 X 0 0 0 John A Ikard Chair, Nominating Committee 1 0 X 0 0 0 Paul G Willson Chair, Government Relations Council 1 0 X 0 0 0 Thomas M Petro Vice Chair, Government Relations Council 1 0 X 0 0 0 Steve Turkiewicz ABA/State Association Alliance 1 0 X 0 0 0 R Daniel Blanton Chairman 1 0 X X 0 0 0 Dorothy A Savarese Chairman Elect 1 0 X X 0 0 0 Kenneth L Burgess Jr Vice Chairman 1 0 X X 0 0 0 G William Beale Treasurer 1 0 X X 0 0 0 Rob Nichols President and CEO ( Started 1/4/16) 37.25 0.25 X X 638420 0 148934 Frank A Keating II President and CEO (Retired 12/31/15) 37.25 0.25 X X 2902612 0 114867 Robert G Eady Chief Financial Officer 35 2.5 X 573392 0 122786 Jeffrey Owen Chief Operating Officer 37.5 0 X 1278948 0 894238 Wayne Abernathy Executive Vice President 37.5 0 X 754222 0 155401 James G Edrington Executive Vice President 37.5 0 X 451154 0 140435 Robert Schmermund Executive Vice President 37.5 0 X 398513 0 57791 Christine Walika Executive Vice President 37.5 0 X 352016 0 317760 Robert R Davis Executive Vice President 37.5 0 X 545642 0 56341 James Chessen Chief Economist 37.5 0 X 573088 0 192908 Dawn Causey General Counsel 37.5 0 X 543965 0 165012 Kenneth Clayton Executive Vice President 37.5 0 X 450219 0 138724 James Ballentine Executive Vice President 37.5 0 X 418421 0 279328 Edward L Yingling Former President and CEO 0 0 X 1612063 0 0 11492675 0 2784525 168 1 1 1 The Glover Park Group 1025 F Street NW 9th Floor Washington DC 20004 Consulting 3762757 Russell Reynolds Associates PO BOX 6427 NEW YORK NY 10249 Consulting 534312 The Podesta Group 1001 G Street NW Ste 1000 Washington DC 20001 Consulting 422814 Freeman PO BOX 650036 DALLAS TX 75265 Consulting 313324 Morrison & Foerster PO BOX 742335 LOS ANGELES CA 90074 Consulting 296245 31 0 MEMBERSHIP DUES 813910 38896762 38896762 0 0 CONFERENCE AND CONVENTION 813910 12538489 7725834 419000 4393655 DUES & FEES ARRANGEMENTS 813910 4986891 4969691 0 17200 SCHOOL & IN-BANK TRAINING 813910 13937854 13916746 0 21108 PUBLICATIONS & SUBSCRIPTIONS 813910 923205 543775 188426 191004 5737897 5562041 175856 0 77021098 1527685 0 0 1527685 0 0 0 0 23066760 0 765286 22301474 0 0 35210517 0 33034179 0 2176338 0 2176338 0 0 2176338 1410193 264747 1145446 1145446 0 0 0 104937327 72760295 1548568 30628464 X 21100 9880614 35456739 12194043 3393964 2743299 307535 52178 1587526 393439 11554992 881638 2645420 1481697 692124 6650442 4086071 6070086 1707596 769807 DC FRANCHISE TAX 1003 OVERHEAD ALLOCATED TO SUBSIDIARIES -4976639 PRINTING AND PUBLICATIONS 1326985 SPONSORSHIP, MEMBERSHIP AND DUES 532986 959288 100413933 0 0 0 8792677 8032297 5286176 5156083 120532 85195 2479311 2707408 20748545 13281253 8222886 7467292 113577695 129236661 29303504 30571031 167782781 183255967 7333943 9012615 41977469 39607732 100288459 128673764 149599871 177294111 X 18182910 5961856 0 0 0 0 18182910 5961856 167782781 183255967 X 4523394 4469396 0 0 0 -21213844 X 0 1 X 1 0 0 0 1 39960351 6832621 -137740 6694881 6793260 -98379 0 Schedule C, Part III-B, Line 1 For lobby reporting we include an additional $1,063,589 of Service Memberships which is included in Dues & fees arrangements of Part VIII, Line 2c, in addition to the $38,896,762 in regular membership dues. 0 0 0 0 0 0 0 0 10995747 6501989 4493758 0 4384808 3540254 844554 0 5367990 3239010 2128980 7467292 Receivables from related organization 4182919 Life Insurance Policies 25443719 Courseware Development 737978 Security Deposit 57800 Cash Advances 52171 Metrocheck 21444 Miscellaneous Assets 75000 30571031 776 Accrued Pension Liability 114519523 Deferred Rent and Lease Incentives 9210885 Deferred Compensation 4500082 Payables to related organization 442498 128673764 X 109671470 4469396 0 0 0 4469396 105202074 0 -264747 -264747 104937327 122238039 0 0 0 21824106 21824106 100413933 0 0 0 100413933 Schedule D, Part X, Line 2 Note 1. Nature Of Activities And Significant Accounting Policies: Income Taxes American Bankers Association is classified for tax purposes as tax-exempt "business league" under Section 501(c)(6) of the Internal Revenue Code (IRC). Therefore, no provision for income taxes has been provided for this entity in the accompanying consolidated financial statements, except for that resulting from the Association's unrelated business income. UBIT expense was $1,003 for the year ended August 31,2016. Management evaluated the Association's tax positions and concluded that the Association has taken no uncertain tax positions that require adjustment to the consolidated financial statements to comply with the provisions of this guidance. Generally, the Association is no longer subject to income tax examinations by the U.S. federal, state, or local tax authorities for years before 2013. Schedule D, Part XI, Line 4b Cost of Goods Sold $264,747 reported on Form 990 Part VIII, Line 10b. Schedule D, Part XII, Line 2d Cost of Goods Sold $264,747 reported on Form 990 Part VIII, Line 10b. Pension & Post-retirement Medical Related Changes Other than Net Periodic Pension Cost due to changes in actuarial assumptions and unrealized gain on pension and post-retirement medical trust fund investments $21,559,359. Total for Line 2d: $264,747 + $21,559,359 = $21,824,106 1 National Multiple Sclerosis Society 5150 W Goldleaf Circle Suite 400 Los Angeles CA 90056 951727656 501(C)(3) 8300 0 N/A N/A WALK MS 2016 Atlantic Legal Foundation 2039 Palmer Avenue Suite 104 Larchmont NY 10538 232022920 501(C)(3) 7800 0 N/A N/A 2016 Annual Award Dinner 2 0 Schedule I, Part I, Line 2 ABA maintains records to substantiate the amount of the charitable contributions as shown on Part II. The recipients are Section 501(c)(3) entity and are thus eligible for charitable contributions. X X X X X 1 1 X X X X 1 1 0 Frank A Keating II President and CEO (Retired 12/31/15) 1447547 0 425000 0 1030065 0 97150 0 17717 0 3017479 0 0 0 Rob Nichols President and CEO ( Started 1/4/16) 559634 0 75000 0 3786 0 141450 0 7484 0 787354 0 0 0 Robert G Eady Chief Financial Officer 409962 0 50000 0 113430 0 101608 0 21178 0 696178 0 0 0 Jeffrey Owen Chief Operating Officer 568569 0 691475 0 18904 0 864400 0 29838 0 2173186 0 0 0 Wayne Abernathy Executive Vice President 533954 0 81000 0 139268 0 124118 0 31283 0 909623 0 0 0 James G Edrington Executive Vice President 316671 0 57600 0 76883 0 111317 0 29118 0 591589 0 0 0 Robert Schmermund Executive Vice President 316730 0 64000 0 17783 0 34437 0 23354 0 456304 0 0 0 Christine Walika Executive Vice President 294253 0 54000 0 3763 0 289600 0 28160 0 669776 0 0 0 James Chessen Chief Economist 330667 0 57200 0 185221 0 161236 0 31672 0 765996 0 0 0 Robert R Davis Executive Vice President 442804 0 67000 0 35838 0 27821 0 28520 0 601983 0 0 0 Dawn Causey General Counsel 371631 0 144507 0 27827 0 135632 0 29380 0 708977 0 0 0 Kenneth Clayton Executive Vice President 297483 0 131377 0 21359 0 108700 0 30024 0 588943 0 0 0 James Ballentine Executive Vice President 351328 0 64000 0 3093 0 252600 0 26728 0 697749 0 0 0 Edward L Yingling Former President and CEO 0 0 0 0 1612063 0 0 0 0 0 1612063 0 0 0 Schedule J, Part I, Line 1a First-class travel & Travel for companions: Certain officers of the organization (five in total) are allowed to fly first class and may bring a companion at their discretion. Part I, Line 1a - Tax indemnification and gross-up payments: Certain members of Executive leadership involved in SERPs (described in 4b below) have vested but unpaid amounts included in compensation. A gross up of 12.25% of the taxable amount is paid to the executive. Part I, Line 1a - Social club dues: Social club dues are provided for business use only. Part I, Line 1a - Personal Services: Financial planning with tax preparation is provided to the President & CEO, Frank A. Keating II and is taxable income included in his reported compensation. He is also provided with a driver. While most is business related, any personal amount ( e.g. commuting) is included in his compensation. Schedule J, Part I, Line 4 The Association provides non-qualified retirement benefits to the executive leadership designed as benefit restoration for the qualified Defined Benefit and Defined Contribution Plans sponsored by the Association. The following officers, key employees, and highest compensated employees participated in a nonqualified Supplemental Employee Retirement Plan and/or a Supplemental Life Insurance Plan with accrued present value estimated benefits for the year: Frank A. Keating II $73,300 Rob Nichols $117,600 Robert G. Eady $23,008 Jeffrey Owen $812,500 Wayne Abernathy $44,860 James Edrington $29,117 Robert Schmermund $10,587 Christine Walika $151,100 Kenneth Clayton $10,200 Jim Chessen $44,636 Dawn Causey $36,332 Robert R. Davis $3,971 James Ballentine $170,900. Form 990, Part VI, Section A, Line 6 The American Bankers Association (ABA) is a 501(c)(6) nonprofit business league incorporated in the District of Columbia. Its membership is composed of national banks, state-chartered banks, savings banks, savings and loan associations, trust companies, and other banking entities situated within the United States and its dependencies, that have filed an application for Federal Deposit Insurance Corporation insurance of accounts ("Regular Members"). Form 990, Part VI, Section A, Line 7a Members of the ABA annually elect the organization's Officers and Board of Directors, which acts as the Association's governing body. Form 990, Part VI, Section A, Line 7b In addition to the annual elections, members vote on major corporate actions such as a merger or acquisition and in the event of a possible dissolution. Form 990, Part VI, Section B, Line 11b ABA's management, which includes certified public accountants, prepared the return and then conducted several internal reviews of the completed Form 990. A copy of the Form 990 including all required schedules was provided to the Audit Committee of the ABA in electronic form prior to its filing with the IRS. Per ABA Board adopted policy, the Audit Committee was delegated the responsibility for reviewing the tax return in advance of its filing. The Audit Committee reports to the Association's governing body and is comprised of Board of Director members. Form 990, Part VI, Section B, Line 12c ABA monitors and enforces its Conflicts of Interest Policy by, at least annually, having each officer, member of the Board of Directors, and all employees attest by signature that they have read, understand, and are in compliance with the policy. On an annual basis, the Board is provided a copy of the policy, offered an opportunity to discuss its requirements, and have any questions answered. Staff attends the meetings of the board in order to monitor compliance with the requirements and that the minutes of the meetings fairly represent the discussions of the Board. Form 990, Part VI, Section B, Line 15 ABA's Compensation Committee, comprised of Board of Director members, is responsible for reviewing the compensation of the Association's CEO, its other officers and its key employees and makes the final compensation recommendation to the Board of Directors, which has final approval. The process used by the Compensation Committee is made in conjunction with an outside independent consulting firm that conducted a comprehensive compensation study for the Association. The methodology used included the following: * Utilizing salary surveys, including those from Mercer, Watson Wyatt, PRM Consulting, Quatt Associates and ASAE, jobs were benchmarked to comparable positions. * The outside compensation consulting firm reviewed applicable market data and the benchmarked position information and developed a market-based pay structure. * Additional factors considered were position requirements, organizational impact, and job complexity. * Minutes are kept of the compensation committee's deliberations and decisions regarding compensation arrangements. Form 990, Part VI, Section C, Line 19 ABA does not make its governing documents, conflict of interest policy, or its financial statements available to the public. The organization's Form 990 is available for public inspection upon request. Form 990, Part IX, Line 11g Other Fees for services exceeds 10% of line 25: Consultant Expenses $6,838,244 Other Outside Services $4,716,748 Total $11,554,992 Form 990, Part XI, Line 9 Other changes in net assets or fund balances: Pension & Postretirement Medical Related Changes Other than Net Periodic Pension Cost $(21,559,359). Net Assets $345,515 transferred from terminated related organization, American Bankers Insurance Association FEIN: 52-2062833. Total Other changes in net assets $(21,213,844). 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