Nonprofit · EIN 04-1589780
MASSACHUSETTS BANKERS ASSOCIATION INC
Tax-exempt · BOSTON, MA 02109
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $7,142,188 | $7,227,783 | -$85,595 | $27,713,732 | $3,108,844 | $24,604,888 |
| December 31, 2023 | 990 | $7,749,904 | $7,004,460 | $745,444 | $26,717,304 | $3,791,580 | $22,925,724 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $3,044,651
- of which government grants
- $169,500
- Membership dues
- $2,875,151
- Program service revenue
- $3,381,228
- Investment income
- $693,256
- Net gain from sales of assets
- $231,178
- Other revenue
- $23,053
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $1,943,318
- Other salaries and wages
- $1,186,521
- Salaries, compensation and benefits (total)
- $3,665,737
- Professional fundraising fees
- $0
- Legal fees
- $90,810
- Accounting fees
- $64,830
- Occupancy
- $409,145
- Travel
- $61,434
- Depreciation
- $125,407
Balance sheet and other
- Total assets, start of year
- $26,717,304
- Total assets, end of year
- $27,713,732
- Total liabilities, end of year
- $3,108,844
- Net assets, end of year
- $24,604,888
- Land, buildings and equipment
- $595,835
- Publicly traded securities
- $16,277,304
- Net assets without donor restrictions
- $24,496,793
- Net assets with donor restrictions
- $108,095
- Gross unrelated business income
- $61,314
- Gross receipts
- $18,091,810
- Employees
- 20
- Volunteers
- 20
- Year formed
- 1905
- State of legal domicile
- MA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| KATHLEEN MURPHY | PRESIDENT/CEO/DIRECTOR Trustee or director, Officer | 40 | $811,926 | $170,700 |
| TANYA M DUNCAN | EVP, REVENUE AND STRATEGY Key employee | 40 | $373,367 | $31,151 |
| BRAD S PAPALARDO | CLERK/SVP GOV'T AFFAIRS & GENERAL COUNSEL Officer | 40 | $287,175 | $36,343 |
| WILLIAM TSOULES | SVP & CFO Key employee | 40 | $245,692 | $33,888 |
| BENJAMIN CRAIGIE | SVP, PROFESSIONAL DEVELOPMENT GROUP Key employee | 40 | $225,159 | $33,059 |
| ANNIE COLDSTREAM | VP OF MEMBER ENGAGEMENT & HR Highest-paid employee | 40 | $194,288 | $28,946 |
| MEGHAN MCCARTHY | VP, PROFESSIONAL DEVELOPMENT Highest-paid employee | 40 | $171,074 | $18,622 |
| NICOLE ALMEIDA | SVP & CHIEF OF STAFF, MEDIA RELATIONS & INQUIRIES Highest-paid employee | 40 | $172,799 | $10,528 |
| LAWRENCE LIUZZO | VP OF GOVERNMENT AFFAIRS & INDUSTRY RELATIONS Highest-paid employee | 40 | $154,124 | $15,952 |
| CHAD POOK | VP OF ADMINISTRATION GROUP INS. TRUST Highest-paid employee | 40 | $151,856 | $8,758 |
| MATTHEW S SOSIK | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ROBERT J FRASER | CHAIR/DIRECTOR Trustee or director, Officer | 1 | $0 | $0 |
| MEG D MCISAAC | IMMEDIATE PAST CHAIR Trustee or director | 1 | $0 | $0 |
| MARTIN F CONNORS | VICE CHAIR/DIRECTOR Trustee or director, Officer | 1 | $0 | $0 |
| RICHARD SPENCER | DIRECTOR Trustee or director | 1 | $0 | $0 |
21 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| ELIZABETH J OLIVER | DIRECTOR Trustee or director | 1 | $0 |
| THOMAS W SENECAL | DIRECTOR Trustee or director | 1 | $0 |
| KEVIN KELLY | DIRECTOR Trustee or director | 1 | $0 |
| PATRICK B THORPE | DIRECTOR Trustee or director | 1 | $0 |
| MATT BURKE | DIRECTOR Trustee or director | 1 | $0 |
| LISA MURRAY | DIRECTOR Trustee or director | 1 | $0 |
| ANNE TANGEN | TREASURER/DIRECTOR Trustee or director, Officer | 1 | $0 |
| MARY MCGOVERN | DIRECTOR Trustee or director | 1 | $0 |
| JEFFREY A WORTH | DIRECTOR Trustee or director | 1 | $0 |
| JAMES M DUNPHY | DIRECTOR Trustee or director | 1 | $0 |
| HAROLD M HORVAT | DIRECTOR Trustee or director | 1 | $0 |
| DENIS A SHEAHAN | DIRECTOR Trustee or director | 1 | $0 |
| WAYNE PATENAUDE | DIRECTOR (ENDED 4/2024) Trustee or director | 1 | $0 |
| KATHLEEN C MARCUM | DIRECTOR (ENDED 4/2024) Trustee or director | 1 | $0 |
| ROSEMARY PICARD | DIRECTOR Trustee or director | 1 | $0 |
| PING YIN CHAI | DIRECTOR Trustee or director | 1 | $0 |
| MICHAEL R O'CONNELL | IMMEDIATE PAST CHAIR (ENDED 4/2024) Trustee or director | 1 | $0 |
| SHINMA SAMEER | DIRECTOR (ENDED 4/2024) Trustee or director | 1 | $0 |
| KEVIN M TIERNEY SR | DIRECTOR (ENDED 4/2024) Trustee or director | 1 | $0 |
| MICHAEL G MCAULIFFE | DIRECTOR (ENDED 4/2024) Trustee or director | 1 | $0 |
| MARIANNE SMITH | DIRECTOR Trustee or director | 1 | $0 |
990 for the year ended December 31, 2023: 28 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| KATHLEEN MURPHY | PRESIDENT/CEO/DIRECTOR Officer | 40 | $778,866 | $169,800 |
| TANYA M DUNCAN | EVP, REVENUE AND STRATEGY Key employee | 40 | $348,524 | $38,456 |
| BRAD S PAPALARDO | CLERK/SVP GOV'T AFFAIRS & COUNSEL Key employee | 40 | $265,388 | $33,364 |
| WILLIAM TSOULES | SVP & CFO, DIRECTOR Key employee | 40 | $229,264 | $31,600 |
| BENJAMIN CRAIGIE | SVP, PROFESSIONAL DEVELOPMENT GROUP Key employee | 40 | $208,389 | $30,409 |
| ANNIE COLDSTREAM | VP OF MEMBER ENGAGEMENT AND HUMAN RESOURCES Highest-paid employee | 40 | $175,470 | $28,725 |
| JON KARL SKARIN | EVP, LEGISLATIVE & REGULA Former | 40 | $203,333 | $0 |
| MEGHAN MCCARTHY | VP, PROFESSIONAL DEVELOPME Highest-paid employee | 40 | $162,566 | $17,224 |
| MATTHEW S SOSIK | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ROBERT J FRASER | VICE CHAIR/DIRECTOR Trustee or director, Officer | 1 | $0 | $0 |
| PING YIN CHAI | TREASURER/DIRECTOR Trustee or director, Officer | 1 | $0 | $0 |
| MEG D MCISAAC | CHAIR/DIRECTOR Trustee or director, Officer | 1 | $0 | $0 |
| MARTIN F CONNORS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| RICHARD SPENCER | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ELIZABETH J OLIVER | DIRECTOR Trustee or director | 1 | $0 | $0 |
| THOMAS W SENECAL | DIRECTOR Trustee or director | 1 | $0 | $0 |
| SHIMNA SAMEER | DIRECTOR Trustee or director | 1 | $0 | $0 |
| PATRICK B THORPE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MICHAEL G MCAULIFFE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| LISA MURRAY | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ANNE TANGEN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| KATHLEEN C MARCUM | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JEFFREY A WORTH | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JAMES M DUNPHY | DIRECTOR Trustee or director | 1 | $0 | $0 |
| HAROLD M HORVAT | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DENIS A SHEAHAN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MARK R O'CONNELL | IMMEDIATE PAST CHAIR Trustee or director | 1 | $0 | $0 |
| WAYNE PATENAUDE | DIRECTOR Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 200 STATE ST STE 701, BOSTON, MA 02109-2655
- In care of
- % FRANCESCA BERTOLINO
- Principal officer (990 for 2024)
- JOSEPH T COLAGIOVANNI, 200 STATE STREET SUITE 701, BOSTON, MA 02109
- Signed the 990
- JOSEPH T COLAGIOVANNI, SVP/CFO
- Phone
- (617) 523-7595
- Website
- WWW.MASSBANKERS.ORG
- Return prepared by
- WOLF & COMPANY PC
Mission
THE MASSACHUSETTS BANKERS ASSOCIATION WAS FOUNDED IN 1905 WITH A GUIDING PRINCIPLE TO PROMOTE BANKING WITHIN THE COMMONWEALTH. A KEY PART OF THAT MISSION IS TO PROVIDE OUR MEMBERS, THE PUBLIC AND MEDIA WITH UP-TO-DATE INFORMATION RELATING TO THE ASSOCIATION AND THE BANKING INDUSTRY. PLEASE EXPLORE OUR RESOURCES TO LEARN MORE ABOUT THE ASSOCIATION, USE OUR RESOURCES AND LEARN HOW YOU CAN HELP PROMOTE THIS CRITICAL INDUSTRY.OUR MISSION IS TO BE THE PREMIER PARTNER AND TRUSTED RESOURCE FOR OUR MEMBERS THROUGHOUT MASSACHUSETTS AND ACROSS NEW ENGLAND. WE WILL ACCOMPLISH OUR MISSION THROUGH A PROACTIVE FOCUS ON EXCEPTIONAL SOLUTIONS, ADVOCACY AND THOUGHT LEADERSHIP FOR THE BANKING INDUSTRY.MASSACHUSETTS BANKERS ASSOCIATION IS THE UNITED VOICE PROPELLING OUR MEMBERS' SUCCESS IN A DYNAMIC INDUSTRY AND RAPIDLY CHANGING WORLD.
Program accomplishments
- SEE SCHEDULE O.THE MASSACHUSETTS BANKERS ASSOCIATION WAS FOUNDED IN 1905 WITH A GUIDING PRINCIPLE TO PROMOTE BANKING WITHIN THE COMMONWEALTH. A KEY PART OF THAT MISSION IS TO PROVIDE OUR MEMBERS, THE PUBLIC AND MEDIA WITH UP-TO-DATE INFORMATION RELATING TO THE ASSOCIATION AND THE BANKING INDUSTRY. PLEASE EXPLORE OUR RESOURCES TO LEARN MORE ABOUT THE ASSOCIATION, USE OUR RESOURCES AND LEARN HOW YOU CAN HELP PROMOTE THIS CRITICAL INDUSTRY.OUR MISSION IS TO BE THE PREMIER PARTNER AND TRUSTED RESOURCE FOR OUR MEMBERS THROUGHOUT MASSACHUSETTS AND ACROSS NEW ENGLAND. WE WILL ACCOMPLISH OUR MISSION THROUGH A PROACTIVE FOCUS ON EXCEPTIONAL SOLUTIONS, ADVOCACY AND THOUGHT LEADERSHIP FOR THE BANKING INDUSTRY.MASSACHUSETTS BANKERS ASSOCIATION IS THE UNITED VOICE PROPELLING OUR MEMBERS' SUCCESS IN A DYNAMIC INDUSTRY AND RAPIDLY CHANGING WORLD.
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 04-1589780
- Tax-exempt status
- 501(c)(6): Business league or chamber of commerce
- Donations deductible
- No
- Exempt since
- 1954
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $27,713,732
- Income (IRS master file)
- $18,091,810
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $7,142,188 | $7,227,783 | $27,713,732 | XML |
| 990 | December 2023 | $7,749,904 | $7,004,460 | $26,717,304 | XML |
| 990 | December 2022 | $16,257,627 | $6,818,675 | $24,529,155 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 04-1589780).
Questions about MASSACHUSETTS BANKERS ASSOCIATION INC
- What is the EIN of MASSACHUSETTS BANKERS ASSOCIATION INC?
- The employer identification number (EIN) of MASSACHUSETTS BANKERS ASSOCIATION INC is 04-1589780.
- Is MASSACHUSETTS BANKERS ASSOCIATION INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(6) since 1954.
- Are donations to MASSACHUSETTS BANKERS ASSOCIATION INC tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does MASSACHUSETTS BANKERS ASSOCIATION INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of MASSACHUSETTS BANKERS ASSOCIATION INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did MASSACHUSETTS BANKERS ASSOCIATION INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of MASSACHUSETTS BANKERS ASSOCIATION INC?
- The 990 for the year ended December 31, 2024 names JOSEPH T COLAGIOVANNI.
- Who are the officers and directors of MASSACHUSETTS BANKERS ASSOCIATION INC?
- The 990 for the year ended December 31, 2024 lists 36 people; 10 received compensation from the organization, the highest $811,926 (KATHLEEN MURPHY, PRESIDENT/CEO/DIRECTOR).
- How much revenue does MASSACHUSETTS BANKERS ASSOCIATION INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $7,142,188, expenses of $7,227,783 and total assets of $27,713,732 at year end.
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