Civic Intelligence

Connecticut Community Bankers Association

990 • Fiscal year 2023 • EIN 22-3050651

Jul 01, 2022 to Jun 30, 2023 • Filed on May 07, 2024

Organization Profilewww.ctcba.com
co Milford Bank 33 Broad StreetMilford, CT 06460

(203) 783-5700

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

73rd percentile

0.10x

Higher debt load relative to assets than 73% of similar nonprofits.

2023 filings • 501(c)6 • <$500k nonprofits • Source year 2023

Liabilities / Revenue

80th percentile

0.16x

Higher debt load relative to revenue than 80% of similar nonprofits.

2023 filings • 501(c)6 • <$500k nonprofits • Source year 2023

Net Margin

35th percentile

-5.6%

Higher net margin than 35% of similar nonprofits.

2023 filings • 501(c)6 • <$500k nonprofits • Source year 2023

Top Officer Pay

73rd percentile

$0

Higher top officer pay than 73% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2023 filings • 501(c)6 • <$500k nonprofits • Source year 2023

Asset Growth

59th percentile

5.0%

Faster asset growth than 59% of similar nonprofits.

2023 filings • 501(c)6 • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

19th percentile

-16%

Faster revenue growth than 19% of similar nonprofits.

2023 filings • 501(c)6 • <$500k nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets73rd percentile

Assets

Up

$437,381

Up $21,010 (+5.0%) from 2022

Net Assets

Down

$393,824

Down $15,521 (-3.8%) from 2022

Liabilities

Up

$43,557

Up $36,531 (+520%) from 2022

Revenue And Expenses
Liabilities / Revenue80th percentileNet Margin35th percentile

Revenue

Down

$276,503

Down $52,864 (-16%) from 2022

Expenses

Up

$292,024

Up $45,690 (+19%) from 2022

Net Income

Down

-$15,521

Down $98,554 (-119%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth59th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$600K$400K$200K$0Assets 2012: $100,880Liabilities 2012: $0Net Assets 2012: $100,8802012Assets 2013: $63,494Liabilities 2013: $0Net Assets 2013: $63,4942013Assets 2014: $153,507Liabilities 2014: $0Net Assets 2014: $153,5072014Assets 2015: $258,963Liabilities 2015: $0Net Assets 2015: $258,9632015Assets 2016: $318,396Liabilities 2016: $0Net Assets 2016: $318,3962016Assets 2017: $356,980Liabilities 2017: $0Net Assets 2017: $356,9802017Assets 2018: $338,748Liabilities 2018: $0Net Assets 2018: $338,7482018Assets 2019: $357,376Liabilities 2019: $0Net Assets 2019: $357,3762019Assets 2020: $344,672Liabilities 2020: $0Net Assets 2020: $344,6722020Assets 2021: $326,312Liabilities 2021: $0Net Assets 2021: $326,3122021Assets 2022: $416,371Liabilities 2022: $7,026Net Assets 2022: $409,3452022Assets 2023: $437,381Liabilities 2023: $43,557Net Assets 2023: $393,8242023Assets 2024: $305,232Liabilities 2024: $47,876Net Assets 2024: $257,3562024

Highlighted filing

2023

Assets$437,381
Liabilities$43,557
Net Assets$393,824
Open 2023 Filing

Operations Trend

Revenue Growth19th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$600K$400K$200K$0-$200KRevenue 2012: $291,002Expenses 2012: $287,312Net Income 2012: $3,6902012Revenue 2013: $315,581Expenses 2013: $352,967Net Income 2013: -$37,3862013Revenue 2014: $332,687Expenses 2014: $242,674Net Income 2014: $90,0132014Revenue 2015: $344,034Expenses 2015: $238,578Net Income 2015: $105,4562015Revenue 2016: $350,826Expenses 2016: $291,393Net Income 2016: $59,4332016Revenue 2017: $323,218Expenses 2017: $284,634Net Income 2017: $38,5842017Revenue 2018: $323,410Expenses 2018: $341,642Net Income 2018: -$18,2322018Revenue 2019: $307,258Expenses 2019: $288,630Net Income 2019: $18,6282019Revenue 2020: $131,743Expenses 2020: $144,447Net Income 2020: -$12,7042020Revenue 2021: $17,713Expenses 2021: $36,073Net Income 2021: -$18,3602021Revenue 2022: $329,367Expenses 2022: $246,334Net Income 2022: $83,0332022Revenue 2023: $276,503Expenses 2023: $292,024Net Income 2023: -$15,5212023Revenue 2024: $272,005Expenses 2024: $408,473Net Income 2024: -$136,4682024

Highlighted filing

2023

Revenue$276,503
Expenses$292,024
Net Income-$15,521
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
May 7, 2024
Return Version
2022v5.0
Gross Receipts
$276,503
Mission and Program Overview

Mission

The Connecticut Community Bankers Association (CCBA) is committed to encouraging the continuous improvement of safe and sound business principles and practices for its members to help them better serve the families and small businesses in their communities.

To provide a forum in which bankers can develop and exchange ideas and experience.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$238,638$240,551▲ $1,913
Cash and Non-Interest-Bearing Accounts$177,733$196,830▲ $19,097
Total Assets$416,371$437,381▲ $21,010
Liabilities
Accounts Payable and Accrued Expenses$7,026$43,557▲ $36,531
Total Liabilities$7,026$43,557▲ $36,531
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$409,345$393,824▼ $15,521
Total Net Assets Fund Balance$409,345$393,824▼ $15,521
Total Liabilities and Net Assets / Fund Balance$416,371$437,381▲ $21,010
Compensation and Service Providers
Top Officer Pay73rd percentile

Board Members and Trustees

NameTitle
Susan ShieldsPresident
Timothy P GeelanVice President
David RotatoriDirector
Diane ArnoldDirector
Ken WeinsteinDirector
Nick CaplansonDirector
Richard J Cantele JrDirector
Stephen L LewisDirector
Tony JoyceDirector
Steve ReillyDirector (part yaer)
Lesa VanottiSecretary
Martin MorgadoTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$274,589
Investment Income
$1,914
Other Revenue
$0
Change in Net Assets
$-15,521
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$292,024
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Conferences and Meetings---$249,724
Fees for Services Other---$35,000
Information Technology---$3,889
Insurance---$2,767
Office Expenses---$598
Interest---$46
Total Functional Expenses$0$0$0$292,024
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
In-house lobbying only
Yes
Subject to proxy tax
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, line 6

“Membership in Connecticut Community Bankers Association is open to all financial institutions in the State of Connecticut having total assets of $5 billion or less, as of the prior year end, upon a letter requesting membership, payment of dues, and acceptance by the Executive Committee. Non-financial institutions may be admitted as nonvoting members of the Association.”

Form 990, Part VI, Section A, line 7A

“All voting members of Connecticut Community Bankers Association are eligible to vote for the directors at the organization's annual meeting.”

Form 990, Part VI, Section B, line 11B

“The Form 990 is prepared by an outside independent accounting firm and provided to the full Board for review before it is filed with the IRS.”

Form 990, Part VI, Section C, line 19

“The organization makes its governing documents available upon request.”

Filing and Contact Details

Filer

Filer Name
Connecticut Community
EIN
22-3050651
Phone
2037835700
Address
co Milford Bank 33 Broad Street, Milford, CT 06460

Signing Officer

Name
Susan L Shields
Title
President
Phone
2037835700
Signed
2024-05-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Susan L Shields
Formed
1993
Legal Domicile
Ct
Voting Board Members
11
Independent Board Members
11
Employees
0
Volunteers
12

Preparer

Firm
Baker Newman & Noyes
Address
133 FEDERAL STREET SUITE 902, BOSTON, MA 02110
Preparer
Connor Smart
Phone
6175563900
Supplemental Narrative

Additional Explanations

Form 990, Part IX, line 11G

“Professional and contracted services 35,000.”

Raw XML Appendix329 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/BooksInCareOfDetail/BusinessName/BusinessNameLine1Txt0Martin Morgado Treasurer
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IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt0c/o Milford Bank 33 Broad Street
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IRS990/Form990PartVIISectionAGrp/TitleTxt2Director
IRS990/Form990PartVIISectionAGrp/TitleTxt3Director
IRS990/Form990PartVIISectionAGrp/TitleTxt4Director
IRS990/Form990PartVIISectionAGrp/TitleTxt5Director (part yaer)
IRS990/Form990PartVIISectionAGrp/TitleTxt6Director
IRS990/Form990PartVIISectionAGrp/TitleTxt7Director
IRS990/Form990PartVIISectionAGrp/TitleTxt8President
IRS990/Form990PartVIISectionAGrp/TitleTxt9Vice President
IRS990/Form990PartVIISectionAGrp/TitleTxt10Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt11Secretary
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IRS990/MissionDesc0The Connecticut Community Bankers Association (CCBA) is committed to encouraging the continuous improvement of safe and sound business principles and practices for its members to help them better serve the families and small businesses in their communities.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Membership in Connecticut Community Bankers Association is open to all financial institutions in the State of Connecticut having total assets of $5 billion or less, as of the prior year end, upon a letter requesting membership, payment of dues, and acceptance by the Executive Committee. Non-financial institutions may be admitted as nonvoting members of the Association.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1All voting members of Connecticut Community Bankers Association are eligible to vote for the directors at the organization's annual meeting.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The Form 990 is prepared by an outside independent accounting firm and provided to the full Board for review before it is filed with the IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The organization makes its governing documents available upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Professional and contracted services 35,000.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section A, line 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part IX, line 11g
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0437381
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0c/o Milford Bank 33 Broad Street
IRS990/USAddress/CityNm0Milford
IRS990/USAddress/StateAbbreviationCd0CT
IRS990/USAddress/ZIPCd006460
IRS990/VotingMembersGoverningBodyCnt011
IRS990/VotingMembersIndependentCnt011
IRS990/WebsiteAddressTxt0www.ctcba.com
IRS990/WhistleblowerPolicyInd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0Susan L Shields
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/PhoneNum02037835700
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-05-07
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Connecticut Community
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0Bankers Association
ReturnHeader/Filer/BusinessNameControlTxt0CONN
ReturnHeader/Filer/EIN0223050651
ReturnHeader/Filer/PhoneNum02037835700
ReturnHeader/Filer/USAddress/AddressLine1Txt0co Milford Bank 33 Broad Street
ReturnHeader/Filer/USAddress/CityNm0Milford
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CT
ReturnHeader/Filer/USAddress/ZIPCd006460
ReturnHeader/IRSResponsiblePrtyInfoCurrInd00
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0010494526
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BAKER NEWMAN & NOYES
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0133 FEDERAL STREET SUITE 902
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0BOSTON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd002110
ReturnHeader/PreparerPersonGrp/PhoneNum06175563900
ReturnHeader/PreparerPersonGrp/PreparationDt02024-05-07
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Connor Smart
ReturnHeader/ReturnTs02024-05-09T07:08:46-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0Susan
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0Shields
ReturnHeader/TaxPeriodBeginDt02022-07-01
ReturnHeader/TaxPeriodEndDt02023-06-30
ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$437,381
Liabilities
$43,557
Net assets
$393,824
Revenue
$276,503
Expenses
$292,024
Net income
-$15,521
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.05$0.48$2.57$2.72$4.08$1.36
2023Detailed filing. Detailed filing data is available for this year.$4.37$0.44$3.94$2.77$2.92$0.16
2022Detailed filing. Detailed filing data is available for this year.$4.16$0.07$4.09$3.29$2.46$0.83
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.26$0.00$3.26$0.18$0.36$0.18
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.45$0.00$3.45$1.32$1.44$0.13
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.57$0.00$3.57$3.07$2.89$0.19
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.39$0.00$3.39$3.23$3.42$0.18
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.57$0.00$3.57$3.23$2.85$0.39
2016Detailed filing. Detailed filing data is available for this year.$3.18$0.00$3.18$3.51$2.91$0.59
2015Summary only. Only limited summary data is available for this year.$2.59$0.00$2.59$3.44$2.39$1.05
2014Summary only. Only limited summary data is available for this year.$1.54$0.00$1.54$3.33$2.43$0.90
2013Summary only. Only limited summary data is available for this year.$0.63$0.00$0.63$3.16$3.53$0.37
2012Summary only. Only limited summary data is available for this year.$1.01$0.00$1.01$2.91$2.87$0.04