2025-11-14T10:18:15-06:00 2024-12-31 882730877 CHERRY BEKAERT ADVISORY LLC 3800 GLENWOOD AVE SUITE 200 RALEIGH NC 27612 990 2024-01-01 560340440 NORTH CAROLINA BANKERS ASSOCIATION NORT 9197817979 3601 HAWORTH DRIVE RALEIGH NC 27609 SUZANNE BROOKS CFO 9197817979 2025-11-12 1 1 BREE-ANN WEIDNER P01319397 9197821040 2024 2025-03-06 01:10:19Z SUZANNE BROOKS 3601 HAWORTH DRIVE RALEIGH NC 27609 3029502 0 X HTTPS://NCBANKERS.ORG X 1897 NC TO OFFER EDUCATION AND SERVICES TO THE FINANCIAL INSTITUTIONS OF NORTH CAROLINA. 16 15 13 20 77558 73182 0 0 2343630 2176064 368383 535623 182127 94312 2894140 2805999 5900 0 0 0 2122385 2086895 0 0 0 1889450 1663961 4017735 3750856 -1123595 -944857 20680697 20910022 462262 345982 20218435 20564040 THE MISSION OF THE NCBA IS TO CARRY OUT THE GENERAL PURPOSE OF FINANCIAL INSTITUTIONS OPERATING IN NORTH CAROLINA, SUCH AS ACTING AS AN EFFECTIVE LEGISLATIVE LIAISON, PROVIDING CONTINUING EDUCATION TO MEMBERS AND ACCESS TO PRODUCTS, SERVICES AND PUBLICATIONS. 0 0 THE NORTH CAROLINA BANKERS ASSOCIATION PARTICIPATED IN GOVERNMENT RELATIONS TO PROMOTE AND PROTECT THE COMMON INTERESTS OF ITS MEMBER BANKS IN NORTH CAROLINA. THE ASSOCIATION WAS ACTIVE IN EXPANDING THE FINANCIAL LITERACY OF ALL NORTH CAROLINA CITIZEN, ESPECIALLY SCHOOL AGED CHILDREN. THE NORTH CAROLINA BANKERS ASSOCIATION ALSO HELD OVER 80 DAYS OF MEETINGS THROUGHOUT THE YEAR TO HELP EDUCATE THE BANKING INDUSTRY EMPLOYEES ON CURRENT PROCEDURES AND REGULATIONS. 0 0 0 1 0 0 0 0 0 1 1 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 27 0 1 13 1 1 1 0 0 0 1 1 0 0 0 X 16 15 0 0 1 0 1 1 0 1 1 0 0 0 1 1 1 1 1 1 1 0 NC X SUZANNE BROOKS 9197817979 3601 HAWORTH DRIVE RALEIGH NC 27609 PETER GWALTNEY PRESIDENT & CEO 40.00 10.00 X X 615000 0 57986 BOB WASHBURN CHAIRMAN 1.00 1.00 X X 0 0 0 JIM MARSHALL VICE CHAIRMAN 1.00 1.00 X X 0 0 0 JIM HANSEN IMMEDIATE PAST CHAIR 1.00 1.00 X 0 0 0 DAVID ALLEN BOARD MEMBER 1.00 1.00 X 0 0 0 JUAN AUSTIN BOARD MEMBER 1.00 1.00 X 0 0 0 DAVID BARKSDALE BOARD MEMBER 1.00 1.00 X 0 0 0 AMANDA LLOYD BOARD MEMBER 1.00 1.00 X 0 0 0 JIM ROSE BOARD MEMBER 1.00 1.00 X 0 0 0 CHRIS BELL BOARD MEMBER (BEGAN AUG. 2024) 1.00 1.00 X 0 0 0 DREW COVERT BOARD MEMBER 1.00 1.00 X 0 0 0 RANDY ADCOCK BOARD MEMBER (BEGAN JUNE 2024) 1.00 1.00 X 0 0 0 BILL BUNN BOARD MEMBER (BEGAN JUNE 2024) 1.00 1.00 X 0 0 0 KEITH EPSTEIN BOARD MEMBER (BEGAN JUNE 2024) 1.00 1.00 X 0 0 0 HUNTER WESTBROOK BOARD MEMBER (BEGAN JUNE 2024) 1.00 1.00 X 0 0 0 FELICIA WOODARD BOARD MEMBER (BEGAN JUNE 2024) 1.00 1.00 X 0 0 0 MIKE ATKINSON BOARD MEMBER (THRU JUNE 2024) 1.00 1.00 X 0 0 0 ROBIN HAGER BOARD MEMBER (THRU JUNE 2024) 1.00 1.00 X 0 0 0 CAROLINE TAYLOR BOARD MEMBER (THRU FEB. 2024) 1.00 1.00 X 0 0 0 DAVID WEAVER BOARD MEMBER (THRU JUNE 2024) 1.00 1.00 X 0 0 0 JEFF WHITTINGTON BOARD MEMBER (THRU JUNE 2024) 1.00 1.00 X 0 0 0 LYNN JOHNSON COO 40.00 10.00 X 324450 0 51640 MARK HOLMES CFO 40.00 10.00 X 169786 0 17451 NATHAN BATTS COUNSEL/SVP 40.00 10.00 X 240807 0 36867 SUZANNE BROOKS CONTROLLER 40.00 10.00 X 165000 0 33081 MICHELLE SUTTON CORPORATE SECRETARY/ACCT. SPECIALIST 40.00 10.00 X 102341 0 16707 1617384 0 213732 6 0 1 0 0 CONVENTION FEES 541900 1140462 1140462 MEMBER DUES 541900 742602 742602 SPONSORSHIPS 541900 293000 293000 2176064 335659 335659 108750 31192 77558 77558 77558 318854 73421 140890 51421 177964 22000 199964 199964 MISCELLANEOUS REVENUE 900099 16754 16754 16754 2805999 2192818 77558 535623 1712067 35528 44426 196688 98186 16587 84205 148506 4991 154167 25532 57353 28975 738857 99012 170686 PROJECT EXPENSE 21227 INCOME TAXES 17991 DUES AND SUBSCRIPTIONS 17061 78811 3750856 117830 413655 1596874 776280 24764 28489 4110297 4196773 183770 112319 3021087 2144434 977053 876653 4001507 4414090 7818209 7911047 1850393 2180716 20680697 20910022 251071 200091 211191 145891 462262 345982 X 20218435 20564040 20218435 20564040 20680697 20910022 X -944857 75314 1215148 X 0 1 X 1 0 0 0 1 567102 148506 148506 498086 -349580 113413 113413 2322234 1792479 529755 502644 286489 216155 82796 65466 17330 876653 CENTRANT 5875585 C COMMUNITY BANK SERVICES INC 1824052 C CANAPI VENTURES FUND 211410 C 7911047 KEY EMPLOYEE LIFE INSURANCE 1579752 RECEIVABLE FROM AFFILIATES 600964 2180716 X PART X, LINE 2: NCBA IS EXEMPT FROM FEDERAL INCOME TAXES UNDER INTERNAL REVENUE CODE ("IRC") SECTION 501(C)(6) AND IS ALSO EXEMPT FROM STATE INCOME TAXES. NBCA PAYS STATE AND FEDERAL TAXES, NET OF APPLICABLE CREDITS, ON UNRELATED BUSINESS INCOME. MANAGEMENT HAS CONCLUDED THAT THE ASSOCIATION HAS PROPERLY MAINTAINED THEIR EXEMPT STATUS AND THERE ARE NO UNCERTAIN TAX POSITIONS HELD AS OF DECEMBER 31, 2024. THE ASSOCIATION DID NOT RECOGNIZE ANY INTEREST OR PENALTIES RELATED TO INCOME TAX DURING THE YEAR ENDED DECEMBER 31, 2024. THE ASSOCIATION DID NOT HAVE AN ACCRUAL FOR UNCERTAIN TAX POSITIONS AS DEDUCTIONS TAKEN AND BENEFITS ACCRUED ARE BASED ON WIDELY UNDERSTOOD ADMINISTRATIVE PRACTICES AND PROCEDURES AND ARE BASED ON CLEAR AND UNAMBIGUOUS TAX LAW. X X 1 1 X X X X 0 1 0 PETER GWALTNEY PRESIDENT & CEO 500000 0 115000 0 0 0 42125 0 15861 0 672986 0 0 0 LYNN JOHNSON COO 270375 0 54075 0 0 0 35690 0 15950 0 376090 0 0 0 NATHAN BATTS COUNSEL/SVP 220799 0 20008 0 0 0 23000 0 13867 0 277674 0 0 0 SUZANNE BROOKS CONTROLLER 150000 0 15000 0 0 0 18044 0 15037 0 198081 0 0 0 MARK HOLMES CFO 150000 0 15000 0 4786 0 17451 0 0 0 187237 0 0 0 PART I, LINE 1A THE NORTH CAROLINA BANKERS ASSOCIATION PAYS CERTAIN CLUB DUES OF THE PRESIDENT OF THE ORGANIZATION. THESE CLUB MEMBERSHIPS ARE TYPICALLY USED FOR ASSOCIATION BUSINESS PURPOSES ONLY. SHOULD AND PERSONAL USE OCCUR, THE PRESIDENT WOULD REIMBURSE THE ASSOCIATION FOR THE VALUE OF SUCH USAGE. THE NORTH CAROLINA BANKERS ASSOCIATION ALSO PAYS THE TRAVEL EXPENSES FOR THE PRESIDENT AND COMPANION ON VISITS TO FUTURE CONVENTION AND MEETING VENUES. THERE IS TYPICALLY A BUSINESS PURPOSE FOR THE COMPANION TRAVEL. PART I, LINE 4B PETER GWALTNEY, PRESIDENT, PARTICIPATED IN A SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN DURING THE YEAR. THE ASSOCIATION MAKES ANNUAL CONTRIBUTIONS TO A LIFE INSURANCE POLICY WHICH IT OWNS AND IS THE BENEFICIARY OF. IF MR. GWALTNEY REMAINS IN THE SERVICE OF THE ASSOCIATION THROUGH AN AGREED-UPON RETIREMENT DATE, OWNERSHIP OF THE POLICY, SUBJECT TO A PARTIAL ASSIGNMENT OF THE DEATH BENEFIT TO THE ASSOCIATION (TO PAY BACK POLICY PREMIUMS MADE BY THE ASSOCIATION), WILL BE TRANSFERRED TO MR. GWALTNEY ON THE RETIREMENT DATE. FORM 990, PART VI, SECTION A, LINE 4 TRANSITION PERIOD REMOVED FROM BYLAWS. FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION IS AN ASSOCIATION IN WHICH THE MEMBERS OF THE ASSOCIATION ARE BANKS. FORM 990, PART VI, SECTION A, LINE 7A THE ORGANIZATION'S MEMBERS HAVE VOTING RIGHTS THAT INCLUDE THE ELECTION OF ONE OR MORE MEMBERS OF THE ORGANIZATION'S GOVERNING BODY. THE MEMBERS APPOINT DIRECTORS IN A MANNER SET FORTH IN THE ORGANIZATION'S BYLAWS. FORM 990, PART VI, SECTION B, LINE 11B THE CFO WILL REVIEW WITH EXECUTIVE MANAGEMENT AND THEN WILL REVIEW WITH THE EXECUTIVE BOARD COMMITTEE. FORM 990, PART VI, SECTION B, LINE 12C EMPLOYEES ARE REQUIRED TO SIGN AND RETURN ACKNOWLEDGMENT FORM ATTESTING THAT THEY WILL COMPLY WITH THE ORGANIZATION'S ETHICS POLICY AND PROVIDE NOTICE OF ANY ACTUAL OR POTENTIAL CONFLICTS OF INTEREST. AS SET FORTH IN THE POLICY, THE AUDIT COMMITTEE REVIEWS ALL FORMS AND CONFLICT INFORMATION ON AN ONGOING BASIS. IN THE EVENT OF A CONFLICT THAT PERSON RECUSES THEMSELVES FROM ALL DISCUSSIONS AND VOTE. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE OF THE NCBA ACTS AS THE COMPENSATION COMMITTEE FOR THE BOARD OF DIRECTORS. THE EXECUTIVE COMMITTEE IS PROVIDED OTHER STATE BANKING ASSOCIATIONS' FORM 990 WITH COMPARABLE POSITIONS TO REVIEW. THE COMMITTEE EVALUATES BASED ON PERFORMANCE AND ACHIEVEMENTS. ALL DISCUSSIONS ARE DOCUMENTED IN THE MEETING MINUTES. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION PERMITS INSPECTION OF THESE DOCUMENTS AT ITS OFFICE. FORM 990, PART XI, LINE 9: EQUITY EARNINGS OF INVESTMENTS 1,240,785. PROVISIONS FOR LOAN LOSSES -25,637. NORTH CAROLINA BANKERS ASSOCIATION FOUNDATION 3601 HAWORTH DRIVE RALEIGH NC 27609 561391773 PROVIDE FUNDS FOR EDUCATIONAL SERVICES SCHOLARSHIP GRANTS NC 501(C)(3) LINE 7 NORTH CAROLINA BANKERS ASSOCIATION 1 COMMUNITY BANK SERVICES INC 3601 HAWORTH DRIVE RALEIGH NC 27609 561268430 FINANCIAL SERVICES NC NORTH CAROLINA BANKERS ASSOCIATION C 2164331 2291085 1.00000 1 CENTRANT COMMUNITY CAPITAL 3601 HAWORTH DRIVE RALEIGH NC 27609 561721140 FINANCIAL SERVICES NC NORTH CAROLINA BANKERS ASSOCIATION C 2044136 6583069 1.00000 1 1 0 0 0 0 1 0 0 0 0 0 0 0 1 1 0 1 0 0 COMMUNITY BANK SERVICES A 36250 FMV CENTRANT COMMUNITY CAPITAL A 72500 FMV COMMUNITY BANK SERVICES O 258908 FMV CENTRANT COMMUNITY CAPITAL O 160242 FMV COMMUNITY BANK SERVICES F 780000 FMV CENTRANT COMMUNITY CAPITAL F 330000 FMV NORTH CAROLINA BANKERS ASSOCIATION FOUNDATION O 161807 FMV