MORTGAGE BANKERS ASSOCIATION OF THE CAROLINAS INC

EIN: 237109184 Community Improvement

MEMPHIS, TN

Total Revenue
$146,567
Total Expenses
$262,519
Total Assets
$489,821
Net Assets
$487,123
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1955
Legal Domicile
NC
Principal Officer
ANGELA FULTON
Phone
9013216731
Tax Period
2023-11-01 to 2024-10-31

MORTGAGE BANKERS ASSOCIATION OF THE CAROLINAS INC, founded in 1955, is a small nonprofit in the Community Improvement sector that reported $147K in total revenue in fiscal year 2023. Expenses of $263K exceeded revenue, resulting in a 79% operating deficit.

Mission

UNITE AS AN ORGANIZATION OF MORTGAGE PROFESSIONALS, CREATE VALUE FOR THE MEMBERSHIP THROUGH EDUCATION, LEGISLATIVE REPRESENTATION AND CUMMUNICATIONS, WHILE PROMOTING THE HIGHEST VALUE OF ETHICAL STANDARDS.

Program Service Accomplishments

Program 1

THE EDUCATIONAL ADVANCEMENT OF PERSONS ENGAGED IN THE MORTGAGE BUSINESS. TO IMPROVE THE INDUSTRY AND TO PROMOTE GOODWILL THROUGH CONVENTIONS, SEMINARS, NEWSLETTERS, AND A MEMBERS' DIRECTORY.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $136,625
Investment Income $9,942
Other Revenue $0
TOTAL REVENUE $146,567

Expense Breakdown

Grants Paid $0
Salaries & Benefits $82,277
Fundraising Expenses $0
Other Expenses $180,242
TOTAL EXPENSES $262,519

Year-over-Year Comparison

2023 2022 Change
Revenue $146,567 $145,128 +0.0%
Expenses $262,519 $184,284 +0.4%
Net Income $-115,952 $-39,156 +2.0%
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

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Liquidity & Cash Position

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Governance

Voting Members
14
Independent Members
N/A
Employees
1
Volunteers
N/A

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
6
$75,000
Total Directors
15
$75,000
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
AMY CONGDON PRESIDENT 1.50
Officer Director
$0 $0 $0
ANGELA FULTON PRESIDENT EL 1.50
Officer Director
$0 $0 $0
BRUCE BUCKLESS VICE PRESIDE 1.50
Officer Director
$0 $0 $0
ROBIN WEYRENS EXECUTIVE DI 50.00
Officer Director
$75,000 $0 $75,000
JONATHAN BICKETT TREASURER 1.50
Officer Director
$0 $0 $0
AMBER HOOTS SECRETARY 1.50
Officer Director
$0 $0 $0
DAWN HOOPER DIRECTOR-NC 0.40
Director
$0 $0 $0
DAVID MILSAPS DIRECTOR-NC 0.40
Director
$0 $0 $0
CLINT COWELL DIRECTOR-NC 0.40
Director
$0 $0 $0
ED BROWN DIRECTOR-SC 0.40
Director
$0 $0 $0
PETER INSABELLA DIRECTOR-SC 0.40
Director
$0 $0 $0
RICK SPIEHS DIRECTOR-SC 0.40
Director
$0 $0 $0
WILLIAM JACKSON PRESIDENTS C 0.40
Director
$0 $0 $0
BRYAN PARKER NC LEGISLATI 0.40
Director
$0 $0 $0
GEORGE CAMISA PRESIDENTS C 0.40
Director
$0 $0 $0
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 $146,567 $262,519 $489,821 $-115,952
2023 $145,128 $184,284 $605,244 $-39,156
2022 $212,528 $229,576 $658,059 $-17,048
2021 $196,867 $190,717 $672,817 $6,150
2020 $80,477 $120,415 $653,129 $-39,938
2019 $212,666 $258,149 $694,173 $-45,483
2018 $182,537 $139,033 $739,130 $43,504
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