2025-07-09T16:44:56-05:00 2024-08-31 410746749 CLIFTONLARSONALLEN LLP 901 N GLEBE ROAD SUITE 200 ARLINGTON VA 22203 990 2023-09-01 113642835 BAFT INC BAFT 2026635054 1333 NEW HAMPSHIRE AVE NW WASHINGTON DC 20036 KARIN PETERSEN FLYNN CFAO 2026635054 2025-07-09 1 0 AMY CHAPMAN P00843460 5712279500 2025-07-08 2023 2025-03-06 01:10:19Z TOD BURWELL 1333 NEW HAMPSHIRE AVE NW WASHINGTON DC 20036 5038933 0 X WWW.BAFT.ORG X 2002 DE ASSOCIATION FOR ORGANIZATIONS ACTIVELY ENGAGED IN INTERNATIONAL TRANSACTION BANKING. 28 27 0 1200 0 0 0 0 4717556 5038933 0 0 0 0 4717556 5038933 0 0 0 0 2010879 2172644 0 0 0 1863785 2099148 3874664 4271792 842892 767141 1270229 2074990 809091 846711 461138 1228279 X SEE SCHEDULE OBAFT IS THE LEADING GLOBAL INDUSTRY ASSOCIATION FOR INTERNATIONAL TRANSACTION BANKING. IT HELPS BRIDGE SOLUTIONS ACROSS FINANCIAL INSTITUTIONS, SERVICE PROVIDERS AND THE REGULATORY COMMUNITY THAT PROMOTE SOUND FINANCIAL PRACTICES ENABLING INNOVATION, EFFICIENCY, AND COMMERCIAL GROWTH. 0 0 CONFERENCES/WORKSHOPS:PROVIDE THOUGHT LEADERSHIP AND EDUCATIONAL SESSIONS TO THOSE INVOLVED IN TRANSACTION BANKING TO KEEP THEM ABREAST OF THE LATEST ISSUES AND CHALLENGES FACING THE INDUSTRY. APPROXIMATELY 10 CONFERENCES AND WORKSHOPS WERE HELD IN-PERSON, VIRTUAL, AND HYBRID FORMATS. IN-PERSON/HYBRID EVENTS WERE OFFERED IN SEVERAL CITIES AND REGIONS ACROSS THE GLOBE, ALLOWING FOR BILATERAL MEETINGS AND NETWORKING AMONG ATTENDEES. MEMBERSHIPTHE FOLLOWING ITEMS ARE INCLUDED WITH MEMBERSHIP TO ENHANCE CURRENT KNOWLEDGE AND INFORMATION SHARING: - PARTICIPATE IN COUNCILS AND COMMITTEES WHERE MEMBERS SHARE BEST PRACTICES AND SHARE IDEAS, ADDRESS CHALLENGES, DEVELOP AND PARTICIPATE IN WORKING GROUPS- QUARTERLY NEWSLETTER UPDATES - MEMBERSHIP DIRECTORY- PERIODIC WEBINARS ON TOPICS OF INTEREST- ACCESS TO BEST PRACTICE DOCUMENTS, STANDARD TRADE AGREEMENTS, POLICY DOCUMENTS AND COMMENT LETTERS, AND RECORDED WEBINARS EDUCATION AND TRAININGA VARIETY OF ON-DEMAND ONLINE EDUCATION CERTIFICATE PROGRAMS RELATED TO TRADE FINANCE, TRANSACTION BANKING, AND CASH MANAGEMENT AIMED AT A VARIETY OF PROFILES AND LEVELS OF EXPERTISE WITHIN THE BANKING INDUSTRY AND CORPORATES INVOLVED IN TRANSACTION BANKING ARE OFFERED. ADDITIONAL CUSTOM TRAINING SOLUTIONS (VIRTUAL OR IN-PERSON) ARE OFFERED ON TRANSACTION BANKING-RELATED TOPICS PER REQUEST OF BANKS AND OR PROVIDERS IN THE TRANSACTION BANKING SPACE. 0 0 0 1 0 0 0 0 0 0 0 0 1 0 1 0 1 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 0 0 0 0 0 0 0 1 1 0 0 0 X 28 27 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X CRYSTAL REDDING 2026635384 1333 NEW HAMPSHIRE AVENUE NW WASHINGTON DC 20036 TOD BURWELL PRESIDENT & CEO 37.50 0.00 X X 0 409108 61969 SURESH SUBRAMANIAN CHAIR 1.00 0.00 X X 0 0 0 MARAM AL-JAZIREH PAST CHAIR 1.00 0.00 X X 0 0 0 NICK SMIT VICE CHAIR 1.00 0.00 X X 0 0 0 MICHELLE KNOWLES SECRETARY/TREASURER 1.00 0.00 X X 0 0 0 AARON ZYNCZAK BOARD MEMBER UNTIL 5/2024 1.00 0.00 X 0 0 0 AMY SAHM BOARD MEMBER 1.00 0.00 X 0 0 0 ANDY ARDUINI BOARD MEMBER 1.00 0.00 X 0 0 0 ANJALI SHAH BOARD MEMBER UNTIL 5/2024 1.00 0.00 X 0 0 0 AYAZ KAMLANI BOARD MEMBER 1.00 0.00 X 0 0 0 BRIAN GORDON BOARD MEMBER 1.00 0.00 X 0 0 0 DARRYL HENDRICKS BOARD MEMBER UNTIL 5/2024 1.00 0.00 X 0 0 0 DEAN SPOSITO BOARD MEMBER 1.00 0.00 X 0 0 0 DERRYN FAURE BOARD MEMBER 1.00 0.00 X 0 0 0 DYANNE CARENZA BOARD MEMBER 1.00 0.00 X 0 0 0 EDDY ALMONTE BOARD MEMBER 1.00 0.00 X 0 0 0 ESTHER GALIANA BOARD MEMBER 1.00 0.00 X 0 0 0 GEORGE LEE BOARD MEMBER 1.00 0.00 X 0 0 0 INNA GOGOUA BOARD MEMBER 1.00 0.00 X 0 0 0 JEAN FRANCOIS MAZURE BOARD MEMBER 1.00 0.00 X 0 0 0 JOHN KINYANGI BOARD MEMBER 1.00 0.00 X 0 0 0 JULIE PATTERSON BOARD MEMBER 1.00 0.00 X 0 0 0 KARIN WALCHSHOFER BOARD MEMBER UNTIL 5/2024 1.00 0.00 X 0 0 0 MARK DOCTOROFF BOARD MEMBER 1.00 0.00 X 0 0 0 MAURICE ISKANDAR BOARD MEMBER 1.00 0.00 X 0 0 0 MIRIAM RATKOVICOVA BOARD MEMBER 1.00 0.00 X 0 0 0 PATRIK HAVANDER BOARD MEMBER 1.00 0.00 X 0 0 0 PETER ZOTOS BOARD MEMBER 1.00 0.00 X 0 0 0 RANA BEYDOUN BOARD MEMBER 1.00 0.00 X 0 0 0 ROBERT HOSTLER BOARD MEMBER 1.00 0.00 X 0 0 0 SABRY SALMAN BOARD MEMBER 1.00 0.00 X 0 0 0 SRIRAM MUTHUKRISHNAN BOARD MEMBER 1.00 0.00 X 0 0 0 KARIN PETERSEN FLYNN CFAO 1.00 36.50 X 0 629792 119748 NANCY MONAHAN SENIOR DIRECTOR, MEMBERSHIP 37.50 0.00 X 0 121412 11014 ARLENE SANCHEZ VP MARKETING AND EVENTS 37.50 0.00 X 0 189900 39134 SCOTT STEVENSON SVP, TRADE 37.50 0.00 X 0 251722 29254 DEEPA SINHA VP, PAYMENTS AND FINANCIAL CRIME 37.50 0.00 X 0 232383 39258 KATHRYN HOCH SENIOR DIRECTOR, EVENTS & PROGRAMS 37.50 0.00 X 0 118996 31316 0 1953313 331693 0 0 1 0 0 CONFERENCE/CONVENTION 813910 2572580 1474530 1098050 MEMBERSHIP DUES 813910 2417426 2417426 OTHER PROGRAMS 813910 48927 48927 5038933 5038933 3940883 0 1098050 X 521225 1258634 146057 144010 102718 8652 6634 520343 14257 67502 271593 39904 172808 788882 OVERHEAD 175628 TRAINING COURSE CONTENT 27179 MEMBERSHIP DUES 5800 -34 4271792 54375 18900 17632 48065 1198222 2008025 1270229 2074990 69744 73164 739347 773547 809091 846711 X 461138 1228279 461138 1228279 1270229 2074990 767141 0 X 0 1 X 1 0 0 1 1 2417426 -391745 -391745 -391745 0 COURSE CONTENT 63010 INTERCOMPANY RECEIVABLE 1945015 2008025 X PART X, LINE 2: 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 THE 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 2021. NORTH AMERICA 0 0 PROGRAM SERVICES COUNCIL MEETINGS & WORKING GROUPS 604914 MIDDLE EAST AND NORTH AFRICA 0 0 PROGRAM SERVICES COUNCIL MEETINGS & WORKING GROUPS 133168 EUROPE 0 2 PROGRAM SERVICES MEMBERSHIP 157038 EAST ASIA AND THE PACIFIC 0 1 PROGRAM SERVICES MEMBERSHIP 32495 0 3 0 0 0 3 927615 0 927615 0 0 0 0 0 1 0 1 0 KARIN PETERSEN FLYNN CFAO 0 515592 0 103880 0 10320 0 75209 0 44539 0 749540 0 0 TOD BURWELL PRESIDENT & CEO 0 350250 0 0 0 58858 0 39600 0 22369 0 471077 0 0 SCOTT STEVENSON SVP, TRADE 0 242829 0 0 0 8893 0 29140 0 114 0 280976 0 0 DEEPA SINHA VP, PAYMENTS AND FINANCIAL CRIME 0 214186 0 16106 0 2091 0 27874 0 11384 0 271641 0 0 ARLENE SANCHEZ VP MARKETING AND EVENTS 0 171965 0 18317 0 -382 0 23124 0 16010 0 229034 0 0 KATHRYN HOCH SENIOR DIRECTOR, EVENTS & PROGRAMS 0 110900 0 10061 0 -1965 0 14763 0 16553 0 150312 0 0 PART I, LINE 4B THE AMERICAN BANKERS ASSOCIATION, A RELATED ORGANIZATION, PROVIDES NON-QUALIFIED RETIREMENT BENEFITS TO THE EXECUTIVE LEADERSHIP DESIGNED AS BENEFIT RESTORATION. KARIN PETERSEN FLYNN PARTICIPATED IN SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN WITH ACCRUED PRESENT VALUE ESTIMATED BENEFITS FOR THE YEAR: $35,609. FORM 990, PART VI, SECTION A, LINE 1A A) EXECUTIVE COMMITTEE - THE BOARD OF DIRECTORS DELEGATES TO THE EXECUTIVE COMMITTEE RESPONSIBILITY FOR MANAGEMENT OF THE ASSOCIATION WHEN THE BOARD IS NOT IN SESSION, CONSISTENT WITH ANY POLICIES ESTABLISHED BY THE BOARD. THE EXECUTIVE COMMITTEE CONSISTS OF THE OFFICERS AND FOUR DIRECTORS WHO ARE SENIOR EXECUTIVE REPRESENTATIVES OF BANK OR FINANCIAL INSTITUTION MEMBERS AND ONE SOLUTION PROVIDER MEMBER APPOINTED BY THE CHAIR, SUBJECT TO APPROVAL OF THE BOARD AND ABA. THE SAME NOTICE, QUORUM, AND VOTING PROVISIONS FOR THE BOARD SHALL APPLY TO THE EXECUTIVE COMMITTEE. B) MEMBERSHIP COMMITTEE IS AUTHORIZED TO DRAFT MEMBERSHIP POLICY (APPROVED BY THE BOARD), MAKE INTERPRETATIONS ON HOW TO APPLY THE POLICIES, AND TO APPROVE NEW MEMBERS, IN CONJUNCTION WITH THE EXECUTIVE COMMITTEE. C) NOMINATING COMMITTEE IS AUTHORIZED TO EXECUTE THE ELECTION OF OFFICERS AND DIRECTORS EACH YEAR. THE SLATE OF CANDIDATES NOMINATED BY MEMBERS IS DISCUSSED AMONGST THE NOMINATING COMMITTEE, WHICH RECOMMENDS TO THE BOARD AND THEN ULTIMATELY TO THE FULL MEMBERSHIP, THE SLATE OF OFFICERS AND DIRECTORS. FORM 990, PART VI, SECTION A, LINE 6 THE MEMBERSHIP OF BAFT REPRESENTS A BROAD RANGE OF INTERNATIONALLY ACTIVE FINANCIAL INSTITUTIONS AND COMPANIES THAT PROVIDE IMPORTANT SERVICES THROUGH THE GLOBAL FINANCIAL COMMUNITY. FORM 990, PART VI, SECTION A, LINE 7A REGULAR MEMBERS OF BAFT ANNUALLY ELECT THE ORGANIZATION'S OFFICERS AND BOARD OF DIRECTORS, WHICH ACTS AS THE ASSOCIATION'S GOVERNING BODY. THE CHIEF EXECUTIVE OFFICER ALSO SERVES AS A VOTING MEMBER OF THE BOARD OF DIRECTORS AND EXECUTIVE COMMITTEE. SELECTION OF THE CEO IS BY MAJORITY VOTE OF THE BOARD OF DIRECTORS WITH THE APPROVAL VOTE OF THE ABA. FORM 990, PART VI, SECTION A, LINE 7B IN ADDITION TO THE ANNUAL ELECTIONS, THE REGULAR MEMBERS VOTE ON MAJOR CORPORATE ACTIONS AS REQUIRED BY THE MEMBERSHIP AND AMENDMENTS TO THE BYLAWS. FORM 990, PART VI, SECTION B, LINE 11B THE CFAO OF THE AMERICAN BANKERS ASSOCIATION SERVES AS THE APPOINTED CFO OF THE BAFT INC. ABA'S MANAGEMENT, WHICH INCLUDES CERTIFIED PUBLIC ACCOUNTANTS, CONDUCTED SEVERAL INTERNAL REVIEWS OF THE COMPLETED FORM 990 WHICH WAS PREPARED BY AN OUTSIDE ACCOUNTING FIRM. FORM 990, PART VI, SECTION B, LINE 12C BAFT MONITORS AND ENFORCES ITS CONFLICTS OF INTEREST POLICY BY, AT LEAST ANNUALLY, HAVING EACH OFFICER, MEMBER OF THE BOARD OF DIRECTORS, AND KEY 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 BAFT HAS NO EMPLOYEES. THE CEO SHOWN ON PART VII SECTION A, IS AN EMPLOYEE OF THE RELATED ORGANIZATION, THE AMERICAN BANKERS ASSOCIATION(ABA). ABA'S COMPENSATION COMMITTEE, COMPRISED OF BOARD OF DIRECTOR MEMBERS, IS RESPONSIBLE FOR REVIEWING THE COMPENSATION OF THE BAFT'S CEO 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. ASIDE FROM THE CEO AND THE CFAO, BOTH OF WHOM ARE ABA EMPLOYEES, NO OTHER OFFICERS ARE COMPENSATED AND NO DIRECTORS ARE COMPENSATED. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2023. FORM 990, PART VI, SECTION C, LINE 19 BAFT DOES NOT MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, OR ITS FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. THE ORGANIZATION'S FORM 990 IS AVAILABLE FOR PUBLIC INSPECTION UPON REQUEST. FORM 990, PART IX, LINE 11G CONSULTANTS 493,348. OUTSIDE SERVICES 26,995. AMERICAN BANKERS ASSOCIATION 1333 NEW HAMPSHIRE AVE NW WASHINGTON DC 20036 521001304 BANKING MEMBERSHIP DC 501(C)(6) 0 ABA COMMUNITY ENGAGEMENT FOUNDATION 1333 NEW HAMPSHIRE AVE NW WASHINGTON DC 20036 830397856 EDUCATION DC 501(C)(3) LINE 12A, I AMERICAN BANKERS ASSOCIATION 0 ABA SECURITIES ASSOCIATION 1333 NEW HAMPSHIRE AVE NW WASHINGTON DC 20036 521935145 ADVOCACY DE 501(C)(6) AMERICAN BANKERS ASSOCIATION 0 INTERNATIONAL MONETARY CONFERENCE 1333 NEW HAMPSHIRE AVE NW WASHINGTON DC 20036 237244320 INTERNATIONAL BANKING MEMBERSHIP ORGANIZATION DC 501(C)(6) AMERICAN BANKERS ASSOCIATION 0 ABA STONIER SCHOLARSHIP INC 1333 NEW HAMPSHIRE AVE NW WASHINGTON DC 20036 833857091 EDUCATIONAL ACTIVITIES DC 501(C)(3) LINE 12A, I AMERICAN BANKERS ASSOCIATION 0 ABA CARD SOLUTIONS INC 1333 NEW HAMPSHIRE AVE NW WASHINGTON DC 20036 363515025 BUSINESS SERVICES DE C 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 0