MASSACHUSETTS BANKERS ASSOCIATION INC (EIN 041589780) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1905

Legal Domicile

Principal Officer

JOSEPH T COLAGIOVANNI

Phone

6175237595

Tax Period

2024-01-01 to 2024-12-31

MASSACHUSETTS BANKERS ASSOCIATION INC, founded in 1905, is a community nonprofit that reported $7.1M in total revenue in fiscal year 2024. Revenue decreased 8% compared to the prior year. Net assets of $24.6M represent 41 months of operating reserves.

Mission

THE MASSACHUSETTS BANKERS ASSOCIATION'S 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.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $3,044,651

Program Service Revenue $3,381,228

Investment Income $693,256

Other Revenue $23,053

TOTAL REVENUE $7,142,188

Expense Breakdown

Grants Paid $0

Salaries & Benefits $3,665,737

Fundraising Expenses $0

Other Expenses $3,562,046

TOTAL EXPENSES $7,227,783

Year-over-Year Comparison

	2024	2023	Change
Revenue	$7,142,188	$7,749,904	-0.1%
Expenses	$7,227,783	$7,004,460	+0.0%
Net Income	$-85,595	$745,444	-1.1%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$1,306,144

Total Directors

$982,626

Key Employees

$942,316

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MATTHEW S SOSIK	DIRECTOR	1.00	Director	$0	$0	$0
KATHLEEN MURPHY	PRESIDENT/CEO/DIRECTOR	40.00	Officer Director	$811,926	$170,700	$982,626
ROBERT J FRASER	CHAIR/DIRECTOR	1.00	Officer Director	$0	$0	$0
MEG D MCISAAC	IMMEDIATE PAST CHAIR	1.00	Director	$0	$0	$0
MARTIN F CONNORS	VICE CHAIR/DIRECTOR	1.00	Officer Director	$0	$0	$0
RICHARD SPENCER	DIRECTOR	1.00	Director	$0	$0	$0
ELIZABETH J OLIVER	DIRECTOR	1.00	Director	$0	$0	$0
THOMAS W SENECAL	DIRECTOR	1.00	Director	$0	$0	$0
KEVIN KELLY	DIRECTOR	1.00	Director	$0	$0	$0
PATRICK B THORPE	DIRECTOR	1.00	Director	$0	$0	$0
MATT BURKE	DIRECTOR	1.00	Director	$0	$0	$0
LISA MURRAY	DIRECTOR	1.00	Director	$0	$0	$0
ANNE TANGEN	TREASURER/DIRECTOR	1.00	Officer Director	$0	$0	$0
MARY MCGOVERN	DIRECTOR	1.00	Director	$0	$0	$0
JEFFREY A WORTH	DIRECTOR	1.00	Director	$0	$0	$0
JAMES M DUNPHY	DIRECTOR	1.00	Director	$0	$0	$0
HAROLD M HORVAT	DIRECTOR	1.00	Director	$0	$0	$0
DENIS A SHEAHAN	DIRECTOR	1.00	Director	$0	$0	$0
WAYNE PATENAUDE	DIRECTOR (ENDED 4/2024)	1.00	Director	$0	$0	$0
KATHLEEN C MARCUM	DIRECTOR (ENDED 4/2024)	1.00	Director	$0	$0	$0
ROSEMARY PICARD	DIRECTOR	1.00	Director	$0	$0	$0
PING YIN CHAI	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL R O'CONNELL	IMMEDIATE PAST CHAIR (ENDED 4/2024)	1.00	Director	$0	$0	$0
SHINMA SAMEER	DIRECTOR (ENDED 4/2024)	1.00	Director	$0	$0	$0
KEVIN M TIERNEY SR	DIRECTOR (ENDED 4/2024)	1.00	Director	$0	$0	$0
MICHAEL G MCAULIFFE	DIRECTOR (ENDED 4/2024)	1.00	Director	$0	$0	$0
MARIANNE SMITH	DIRECTOR	1.00	Director	$0	$0	$0
BRAD S PAPALARDO	CLERK/SVP GOV'T AFFAIRS & GENERAL COUNSEL	40.00	Officer	$287,175	$36,343	$323,518
BENJAMIN CRAIGIE	SVP, PROFESSIONAL DEVELOPMENT GROUP	40.00	Key Emp	$225,159	$33,059	$258,218
TANYA M DUNCAN	EVP, REVENUE AND STRATEGY	40.00	Key Emp	$373,367	$31,151	$404,518
WILLIAM TSOULES	SVP & CFO	40.00	Key Emp	$245,692	$33,888	$279,580
ANNIE COLDSTREAM	VP OF MEMBER ENGAGEMENT & HR	40.00	Highest	$194,288	$28,946	$223,234
MEGHAN MCCARTHY	VP, PROFESSIONAL DEVELOPMENT	40.00	Highest	$171,074	$18,622	$189,696
NICOLE ALMEIDA	SVP & CHIEF OF STAFF, MEDIA RELATIONS & INQUIRIES	40.00	Highest	$172,799	$10,528	$183,327
CHAD POOK	VP OF ADMINISTRATION GROUP INS. TRUST	40.00	Highest	$151,856	$8,758	$160,614
LAWRENCE LIUZZO	VP OF GOVERNMENT AFFAIRS & INDUSTRY RELATIONS	40.00	Highest	$154,124	$15,952	$170,076

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$7,142,188	$7,227,783	$27,713,732	$-85,595
2023	$7,749,904	$7,004,460	$26,717,304	$745,444
2022	$16,257,627	$6,818,675	$24,529,155	$9,438,952
2022	$16,257,627	$6,818,675	$24,529,155	$9,438,952
2021	$6,144,783	$5,358,359	$14,284,129	$786,424
2020	$5,363,741	$4,802,072	$14,371,850	$561,669
2019	$7,961,153	$6,649,257	$13,836,803	$1,311,896
2018	$6,345,623	$5,865,991	$11,568,622	$479,632

MASSACHUSETTS BANKERS ASSOCIATION INC