Civic Intelligence

Tsbs Inc.

990 • Fiscal year 2022 • EIN 72-0019332

Jul 01, 2021 to Jun 30, 2022 • Filed on Mar 03, 2023

Organization Profilegsblsu.org

View Organization Page

4273 Highland RoadBaton Rouge, LA 70808

(225) 766-8595

Siviq Scores

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

Liabilities / Assets

19th percentile

0.01x

Higher debt load relative to assets than 19% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Liabilities / Revenue

19th percentile

0.03x

Higher debt load relative to revenue than 19% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Net Margin

71st percentile

21%

Higher net margin than 71% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Top Officer Pay

84th percentile

$253,631

Higher top officer pay than 84% of similar nonprofits.

Top officer pay equals 9.2% of source-year revenue.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Asset Growth

4th percentile

-25%

Faster asset growth than 4% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Revenue Growth

97th percentile

265%

Faster revenue growth than 97% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets19th percentile

Assets

Down

$7,766,024

Down $2,633,314 (-25%) from 2021

Net Assets

Down

$7,690,309

Down $2,488,325 (-24%) from 2021

Liabilities

Down

$75,715

Down $144,989 (-66%) from 2021

Revenue And Expenses
Liabilities / Revenue19th percentileNet Margin71st percentile

Revenue

Up

$2,757,747

Up $2,001,220 (+265%) from 2021

Expenses

Up

$2,190,243

Up $451,695 (+26%) from 2021

Net Income

Up

$567,504

Up $1,549,525 (+158%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth4th percentile

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

$15M$10M$5.0M$0Assets 2011: $8,992,826Liabilities 2011: $1,134,169Net Assets 2011: $7,858,6572011Assets 2012: $8,795,055Liabilities 2012: $809,346Net Assets 2012: $7,985,7092012Assets 2013: $9,852,172Liabilities 2013: $841,634Net Assets 2013: $9,010,5382013Assets 2014: $11,471,295Liabilities 2014: $764,085Net Assets 2014: $10,707,2102014Assets 2015: $11,772,677Liabilities 2015: $754,687Net Assets 2015: $11,017,9902015Assets 2016: $11,465,520Liabilities 2016: $691,298Net Assets 2016: $10,774,2222016Assets 2017: $12,503,341Liabilities 2017: $651,798Net Assets 2017: $11,851,5432017Assets 2018: $13,428,102Liabilities 2018: $603,478Net Assets 2018: $12,824,6242018Assets 2019: $13,592,654Liabilities 2019: $75,915Net Assets 2019: $13,516,7392019Assets 2020: $11,277,075Liabilities 2020: $114,027Net Assets 2020: $11,163,0482020Assets 2021: $10,399,338Liabilities 2021: $220,704Net Assets 2021: $10,178,6342021Assets 2022: $7,766,024Liabilities 2022: $75,715Net Assets 2022: $7,690,3092022Assets 2023: $6,627,545Liabilities 2023: $61,975Net Assets 2023: $6,565,5702023Assets 2024: $6,193,102Liabilities 2024: $38,567Net Assets 2024: $6,154,5352024Assets 2025: $6,605,189Liabilities 2025: $32,597Net Assets 2025: $6,572,5922025

Highlighted filing

2022

Assets$7,766,024
Liabilities$75,715
Net Assets$7,690,309
Open 2022 Filing

Operations Trend

Revenue Growth97th percentile

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

$4.0M$2.0M$0-$2.0MExpenses 2011: $1,900,5032011Revenue 2012: $2,191,173Expenses 2012: $1,851,153Net Income 2012: $340,0202012Expenses 2013: $1,967,8332013Revenue 2014: $2,977,591Expenses 2014: $2,055,864Net Income 2014: $921,7272014Revenue 2015: $3,093,303Expenses 2015: $2,097,451Net Income 2015: $995,8522015Revenue 2016: $2,500,953Expenses 2016: $2,157,502Net Income 2016: $343,4512016Revenue 2017: $2,622,928Expenses 2017: $2,092,951Net Income 2017: $529,9772017Revenue 2018: $3,662,134Expenses 2018: $2,157,913Net Income 2018: $1,504,2212018Revenue 2019: $2,710,938Expenses 2019: $2,507,035Net Income 2019: $203,9032019Revenue 2020: $1,933,880Expenses 2020: $1,414,965Net Income 2020: $518,9152020Revenue 2021: $756,527Expenses 2021: $1,738,548Net Income 2021: -$982,0212021Revenue 2022: $2,757,747Expenses 2022: $2,190,243Net Income 2022: $567,5042022Revenue 2023: $2,456,850Expenses 2023: $2,167,630Net Income 2023: $289,2202023Revenue 2024: $2,453,515Expenses 2024: $2,368,212Net Income 2024: $85,3032024Revenue 2025: $2,917,097Expenses 2025: $2,578,534Net Income 2025: $338,5632025

Highlighted filing

2022

Revenue$2,757,747
Expenses$2,190,243
Net Income$567,504
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Mar 3, 2023
Return Version
2021v4.1
Gross Receipts
$4,750,672
Mission and Program Overview

Mission

Tsbs is an educational institution for the banking industry providing classroom training to banking industry personnel in a wide variety of financial related matters.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$8,273,285$5,747,600▼ $2,525,685
Land, Buildings, and Equipment, Net$1,530,722$1,674,703▲ $143,981
Investments Other Securities$533,141$0▼ $533,141
Cash and Non-Interest-Bearing Accounts$60,210$341,739▲ $281,529
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Program Related-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$10,399,338$7,766,024▼ $2,633,314
Other Assets Total$1,980$1,982▲ $2
Liabilities
Other Liabilities$126,759--
Deferred Revenue$93,945$75,715▼ $18,230
Total Liabilities$220,704$75,715▼ $144,989
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$10,178,634$7,690,309▼ $2,488,325
Total Net Assets Fund Balance$10,178,634$7,690,309▼ $2,488,325
Total Liabilities and Net Assets / Fund Balance$10,399,338$7,766,024▼ $2,633,314

Asset Categories

AssetBook ValueDepreciationBasis
Land$956,000-$956,000
Buildings$711,365$174,635$886,000
Other Land Buildings$7,338$105,333$112,671
Equipment-$10,372$10,372
Compensation and Service Providers
Top Officer Pay84th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
John NaughtonExecutive DirectorFT$215,725$37,906$253,631

Board Members and Trustees

NameTitle
Colin BarrettChairman
Fred GreenChairman
Scott E LathamChairman
Joseph D HudginsPresident
Michael AllenPresident
Stephen DavidPresident

Highest Paid Contractors

ContractorServicesLocationCompensation
Michael HighfieldConsulting119 TUFORD ROAD, Starkville, MS 39759$128,865
Don WoodlandConsulting7770 Willow Grove, Baton Rouge, LA 70810$122,108
Revenue and Support

Revenue Composition

Contributions and Grants
$126,759
Program Service Revenue
$2,053,087
Investment Income
$575,501
Other Revenue
$2,400
All Other Contributions
$126,759
Change in Net Assets
$567,504

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,590,813
Revenue Not Reported on Financial Statements
$166,934
Revenue Not Reported on Form 990
$-1,152,584
Other Revenue Adjustments
$126,760
Total Revenue per Audited Statements
$1,438,229
Total Revenue per Form 990
$2,757,747
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,410,789
Salaries, Compensation, and Employee Benefits$779,454
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages-$356,435-$356,435
Current Officers, Directors, Trustees, and Key Employees$288,526--$288,526
Travel$104,450--$104,450
Office Expenses-$81,109-$81,109
Other Employee Benefits-$67,890-$67,890
Other Expenses$59,311--$59,311
Fees for Service Investment Mgmnt Fees-$41,174-$41,174
Payroll Taxes-$40,138-$40,138
Occupancy-$38,799-$38,799
All Other Expenses$35,533--$35,533
Insurance-$30,278-$30,278
Information Technology$30,065--$30,065
Pension Plan Contributions-$26,465-$26,465
Depreciation Depletion-$20,950-$20,950
Fees for Services Accounting-$17,225-$17,225
Advertising$8,507--$8,507
Fees for Services Legal-$5,149-$5,149
Total Functional Expenses$1,464,631$725,612$0$2,190,243

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$2,190,243
Expenses per Audited Statements$2,077,594
Total Expenses per Audited Statements$2,077,594
Expenses Not Reported on Financial Statements$112,649
Other Expense Adjustments$72,475
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
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
Yes
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

“A certified public accounting firm is retained to prepare the annual irs form 990. The cpa firm provides a copy of the completed form to the executive committee of the board of directors for their review and approval. A copy of the irs 990 tax return was provided to the executive director for his review, approval and signature.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“As clearly indicated in the executive board and full board meeting minutes, all financial reporting is provided to all parties. The irs form 990 will also be made available upon request to the executive director. Any public request to view these documents along with the irs form 1023 and the tax exempt determination letter from the irs will also be made available upon request.”

Part VI Line 15B

“The executive committee performs the following actions 1. Board members, not having a conflict of interest, approve the executive directors, annual salary, 2. The board conducts an internal survey of the compensation paid to other executive directors, more than 3, of similiar banking training organizations around the united states, 3. The executive committee adequately and concurrently documents that the executive director compensation package is within the range of such comparable data. 4. The compensation package is approved in advance of the compensation earned. 5. The executive committee has adopted the provisions of treasury regulation section 53 .4958-6 c 1 iii. The conflict of interest policy precludes any executive committee members who have a financial interest in the compensation transaction, whether directly or indirectly through a family or business relation with a party to the transaction, from voting on the approval of the transaction. 6. The executive committee members not having a conflict of interest will review the salaries of at least 3 different persons with positions similar to the exec. Directors, at comparable schools to ensure that the executive directors aggregate compensation package is not more than the executive directors peers. 7. The documentation includes the following a. The terms of the compensation package and the date it was approved, b. The members of the executive committee who were present during the debate on the compensation package and those who voted on its approval, c. The comparable data relied upon by the executive committee and the means by which the executive committee obtained the data and the recusal of any members of the executive committee who may have had a conflict of interest. D. The exec. Committee must prepare this documentation before the later of 60 days after the vote or the next meeting of the executive committee.”

Part VI, Line 12C

“Board of directors meet bi-annually to address policy issues, cirriculum changes, teacher evaluations and new hires, investment policy review and policy decisions, advertising efforts, etc. During these meetings any issues impacting conflict of interest, prohibitive transactions will be addressed by the full board of directors and acted upon .”

Part VI, Line 6

“Tsbs, inc. Is comprised of the participating state banker associations that participate in the organization.”

Part VI, Line 7A

“The board of trustees elect the officers for the upcoming year at the annual fall meeting. The nominating committee places individuals in nomination for approval by the entire board of trustees. The board of trustees consists of representatives from the participating bankers associations. The board of trustees also elect those individuals who will serve on the executive committee.”

Part VII, Section A

“TAX SOFTWARE HAS LIMITATIONS ON TITLE/POSITION FOR OFFICER'S. WE ARE USING SCHEDULE O TO PROVIDE THE ACTUAL TITLES TO THESE OFFICERS. PRESIDENT - Mr. J. Michael Mike Allen, PAST PRESIDENT-Mr. Joseph D. Jody Hudgins, PAST CHAIRMAN-Mr. Scott E. Latham, CHAIRMAN-Mr. Colin Barrett, PRESIDENT ELECT - Steven David, CHAIRMAN ELECT - Fred Green. THIS GROUP OF OFFICERS REPRESENT THE EXECUTIVE BOARD.”

Filing and Contact Details

Filer

Filer Name
Tsbs Inc
EIN
72-0019332
Phone
2257668595
Address
4273 HIGHLAND ROAD, BATON ROUGE, LA 70808

Signing Officer

Name
John Naughton
Title
Executive Director
Signed
2023-03-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
John Naughton
Formed
1981
Legal Domicile
La
Voting Board Members
7
Independent Board Members
6
Employees
12
Volunteers
6

Preparer

Firm
Ted Soileau CPA LLC
Address
429 GOVERNMENT ST FL 2, BATON ROUGE, LA 70802
Preparer
Ted A Soileau
Phone
2257667910
Supplemental Narrative

Additional Explanations

Other Changes In Net Assets Or Fund Balances - Other Decreases

“Transfer of funds to the woodland foundation = -$1975720”

Form 990, Part XI, Line 9

“Trasfer of funds were made to the woodland foundation, a tax exempt, 501c3 entity, fid 83-4057982.”

Financial Statement Notes

Part X : FIN48 Footnote

“ACCOUNTING FOR THE UNCERTAINTY OF TAX POSITIONS CAN IMPACT THE FINANCIAL STATEMENTS. EVEN THOUGH THE SCHOOL IS EXEMPT FROM INCOME TAXES, THE SCHOOL MUST STILL CONSIDER WHETHER ITS EXEMPT INCOME AND OTHER ACTIVITIES OF THE SCHOOL MIGHT BE DETERMINED TO BE UNRELATED BUSINESS INCOME, AND WHETHER THE SCHOOL HAS PROPERLY MAINTAINED ITS TAX EXEMPT STATUS. FASB ASC 740 FINANCIAL INTERPRETATION NO. 48 I.E. FIN 48, PUBLISHED BY THE FINANCIAL ACCOUNTING STANDARDS BOARD, ADDRESSES THE ISSUE OF ACCOUNTING FOR THE UNCERTAINTY OF MATERIAL TAX POSITIONS IMPACTING THE FINANCIAL STATEMENTS. THE OFFICERS HAVE ADOPTED THE PROVISIONS OF FASB ASC 740 EFFECTIVE JUNE 30, 2019. THE ACCOUNTING FOR ALL MATERIAL POSITIONS TAKEN, OR EXPECTED TO BE TAKEN, ON ANY INCOME TAX RETURN IS GOVERNED BY FASB ASC 740. INCOME TAX RETURNS INCLUDE THOSE POSITIONS THAT WERE FILED OR THAT SHOULD HAVE BEEN FILED WITH FEDERAL TAXING AUTHORITIES. IT IS THE OFFICERS POLICY TO ASSESS ALL MATERIAL POSITIONS TAKEN ON ANY FEDERAL INCOME TAX RETURN. THE OFFICERS WILL REQUIRE ITS LEGAL AND TAX COUNSEL TO COMMUNICATE TO THEM ALL SUCH UNCERTAIN TAX POSITIONS IN ORDER TO EVALUATE THE IMPACT OF THE TAX POSITION AND THE REPORTING AND DISCLOSURE REQUIRED. THE REQUIREMENT WILL APPLY TO NOT ONLY THE CURRENT REPORTING YEAR BUT ALSO TO ALL PRIOR OPEN REPORTING YEARS THAT COULD STILL BE SUBJECT TO EXAMINATION BY A TAXING AUTHORITY. THE OFFICERS HAS DETERMINED THAT ANY MATERIAL UNCERTAIN TAX POSITIONS THAT ARE PRESENTED TO THE BOARD OF TRUSTEES WILL BE RECOGNIZED AND MEASURED USING A MORE-LIKELY-THAN-NOT, MLTN THRESHOLD. THE MLTN THRESHOLD MEANS THAT l. A BENEFIT RELATED TO AN UNCERTAIN TAX POSITION MAY NOT BE RECOGNIZED IN THE FINANCIAL STATEMENTS UNLESS IT IS MLTN THAT THE POSITION WILL BE SUSTAINED BASED ON ITS TECHNICAL MERITS, AND 2. THERE MUST BE MORE THAN A 50 LIKELIHOOD THAT THE POSITION WOULD BE SUSTAINED IF CHALLENGED AND CONSIDERED BY THE HIGHEST COURT IN THE RELEVANT JURISDICTION. MEASUREMENT OF ANY UNCERTAIN TAX POSITION WILL REQUIRE CALCULATING THE CUMULATIVE PROBABILITY OF AN OUTCOME EITHER FOR OR AGAINST THE TAX POSITION. THE TAX BENEFIT OF A QUALIFYING POSITION IS THE LARGEST AMOUNT OF TAX BENEFIT THAT IS MORE THAN 50 PERCENT LIKELY TO BE REALIZED UPON ULTIMATE SETTLEMENT WITH A TAXING AUTHORITY THAT HAS FULL KNOWLEDGE OF ALL RELEVANT INFORMATION. INITIAL RECOGNITION OF AN UNCERTAIN TAX POSITION WILL REQUIRE CONTINUED REASSESSMENT OF THE TAX POSITION ON AN ANNUAL BASIS. AS OF EACH YEAR-END, ANY UNRESOLVED UNCERTAIN TAX POSITIONS MUST BE REASSESSED, AND THE OFFICERS MUST DETERMINE WHETHER l. THE FACTORS UNDERLYING THE SUSTAINABILITY ASSERTIONS HAVE CHANGED AND, 2. THE AMOUNT OF THE RECOGNIZED TAX BENEFIT IS STILL APPROPRIATE. DEVELOPMENTS SUCH AS CASE LAW, CHANGES IN TAX LAW, NEW RULINGS OR REGULATIONS ISSUED BY TAXING AUTHORITIES, COULD AFFECT WHETHER A TAX POSITION SHOULD BE RECOGNIZED OR THE AMOUNT THAT SHOULD BE REPORTED. THE SCHOOL WILL BE REQUIRED TO ACCRUE INTEREST AND PENALTIES THAT, UNDER PRESENT TAX LAW, THE SCHOOL WOULD INCUR IF THE UNCERTAIN TAX POSITION ULTIMATELY WERE NOT SUSTAINED. FOR THE YEAR ENDING JUNE 30, 2022, NO UNCERTAIN TAX POSITIONS WERE DETERMINED TO EXIST.”

Part XI, Line 4B: Other revenue amounts included on 990 but not included in F/S

“SBA PPP LOAN $126760”

Part XII, Line 4B: Other revenue amounts included on 990 but not included in F/S

“Other investment cost $72475”

Raw XML AppendixShowing 400 of 526 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/MissionDesc0TSBS IS AN EDUCATIONAL INSTITUTION FOR THE BANKING INDUSTRY PROVIDING CLASSROOM TRAINING TO BANKING INDUSTRY PERSONNEL IN A WIDE VARIETY OF FINANCIAL RELATED MATTERS.
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0ACCOUNTING FOR THE UNCERTAINTY OF TAX POSITIONS CAN IMPACT THE FINANCIAL STATEMENTS. EVEN THOUGH THE SCHOOL IS EXEMPT FROM INCOME TAXES, THE SCHOOL MUST STILL CONSIDER WHETHER ITS EXEMPT INCOME AND OTHER ACTIVITIES OF THE SCHOOL MIGHT BE DETERMINED TO BE UNRELATED BUSINESS INCOME, AND WHETHER THE SCHOOL HAS PROPERLY MAINTAINED ITS TAX EXEMPT STATUS. FASB ASC 740 FINANCIAL INTERPRETATION NO. 48 I.E. FIN 48, PUBLISHED BY THE FINANCIAL ACCOUNTING STANDARDS BOARD, ADDRESSES THE ISSUE OF ACCOUNTING FOR THE UNCERTAINTY OF MATERIAL TAX POSITIONS IMPACTING THE FINANCIAL STATEMENTS. THE OFFICERS HAVE ADOPTED THE PROVISIONS OF FASB ASC 740 EFFECTIVE JUNE 30, 2019. THE ACCOUNTING FOR ALL MATERIAL POSITIONS TAKEN, OR EXPECTED TO BE TAKEN, ON ANY INCOME TAX RETURN IS GOVERNED BY FASB ASC 740. INCOME TAX RETURNS INCLUDE THOSE POSITIONS THAT WERE FILED OR THAT SHOULD HAVE BEEN FILED WITH FEDERAL TAXING AUTHORITIES. IT IS THE OFFICERS POLICY TO ASSESS ALL MATERIAL POSITIONS TAKEN ON ANY FEDERAL INCOME TAX RETURN. THE OFFICERS WILL REQUIRE ITS LEGAL AND TAX COUNSEL TO COMMUNICATE TO THEM ALL SUCH UNCERTAIN TAX POSITIONS IN ORDER TO EVALUATE THE IMPACT OF THE TAX POSITION AND THE REPORTING AND DISCLOSURE REQUIRED. THE REQUIREMENT WILL APPLY TO NOT ONLY THE CURRENT REPORTING YEAR BUT ALSO TO ALL PRIOR OPEN REPORTING YEARS THAT COULD STILL BE SUBJECT TO EXAMINATION BY A TAXING AUTHORITY. THE OFFICERS HAS DETERMINED THAT ANY MATERIAL UNCERTAIN TAX POSITIONS THAT ARE PRESENTED TO THE BOARD OF TRUSTEES WILL BE RECOGNIZED AND MEASURED USING A MORE-LIKELY-THAN-NOT, MLTN THRESHOLD. THE MLTN THRESHOLD MEANS THAT l. A BENEFIT RELATED TO AN UNCERTAIN TAX POSITION MAY NOT BE RECOGNIZED IN THE FINANCIAL STATEMENTS UNLESS IT IS MLTN THAT THE POSITION WILL BE SUSTAINED BASED ON ITS TECHNICAL MERITS, AND 2. THERE MUST BE MORE THAN A 50 LIKELIHOOD THAT THE POSITION WOULD BE SUSTAINED IF CHALLENGED AND CONSIDERED BY THE HIGHEST COURT IN THE RELEVANT JURISDICTION. MEASUREMENT OF ANY UNCERTAIN TAX POSITION WILL REQUIRE CALCULATING THE CUMULATIVE PROBABILITY OF AN OUTCOME EITHER FOR OR AGAINST THE TAX POSITION. THE TAX BENEFIT OF A QUALIFYING POSITION IS THE LARGEST AMOUNT OF TAX BENEFIT THAT IS MORE THAN 50 PERCENT LIKELY TO BE REALIZED UPON ULTIMATE SETTLEMENT WITH A TAXING AUTHORITY THAT HAS FULL KNOWLEDGE OF ALL RELEVANT INFORMATION. INITIAL RECOGNITION OF AN UNCERTAIN TAX POSITION WILL REQUIRE CONTINUED REASSESSMENT OF THE TAX POSITION ON AN ANNUAL BASIS. AS OF EACH YEAR-END, ANY UNRESOLVED UNCERTAIN TAX POSITIONS MUST BE REASSESSED, AND THE OFFICERS MUST DETERMINE WHETHER l. THE FACTORS UNDERLYING THE SUSTAINABILITY ASSERTIONS HAVE CHANGED AND, 2. THE AMOUNT OF THE RECOGNIZED TAX BENEFIT IS STILL APPROPRIATE. DEVELOPMENTS SUCH AS CASE LAW, CHANGES IN TAX LAW, NEW RULINGS OR REGULATIONS ISSUED BY TAXING AUTHORITIES, COULD AFFECT WHETHER A TAX POSITION SHOULD BE RECOGNIZED OR THE AMOUNT THAT SHOULD BE REPORTED. THE SCHOOL WILL BE REQUIRED TO ACCRUE INTEREST AND PENALTIES THAT, UNDER PRESENT TAX LAW, THE SCHOOL WOULD INCUR IF THE UNCERTAIN TAX POSITION ULTIMATELY WERE NOT SUSTAINED. FOR THE YEAR ENDING JUNE 30, 2022, NO UNCERTAIN TAX POSITIONS WERE DETERMINED TO EXIST.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1SBA PPP LOAN $126760
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2OTHER INVESTMENT COST $72475
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Part XI, Line 4b: Other revenue amounts included on 990 but not included in F/S
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2Part XII, Line 4b: Other revenue amounts included on 990 but not included in F/S
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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0ORGANIZATION DOES NOT ADVERTISE BY MEDIA OR NEWSPAPER BUT RATHER RELIES ON ITS ONGOING RELATIONSHIP WITH THE FINANCIAL INSTITUTIONS IT SERVES. THE ORGANIZATION'S WEBSITE IS THE MAIN MEDIA SOURCE FOR INFORMING THE PUBLIC OF THE ORGANIZATION'S COURSES AND INSTRUCTORS AND IT IS WITHIN THIS WEBSITE THAT THE ORGANIZATION'S NONDISCRIMINATORY POLICY IS DISCLOSED.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1NO TRACKING OF RACE OF ANY STUDENT/FACULTY/STAFF IS PERFORMED. RACIALLY, NON-DISCRIMINATORY POLICIES ARE IN PLACE. NO FUNDRAISING ACTIVITIES ARE USED.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule E, Line 3 - Racially Nondiscriminatory Policy Publicized
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1Schedule E, Line 4 - Explanation of Records and Materials Not Maintained
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc2Schedule E, Line 5 - Explanation of Organization Discrimination by Race
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A CERTIFIED PUBLIC ACCOUNTING FIRM IS RETAINED TO PREPARE THE ANNUAL IRS FORM 990. THE CPA FIRM PROVIDES A COPY OF THE COMPLETED FORM TO THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS FOR THEIR REVIEW AND APPROVAL. A COPY OF THE IRS 990 TAX RETURN WAS PROVIDED TO THE EXECUTIVE DIRECTOR FOR HIS REVIEW, APPROVAL AND SIGNATURE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1AS CLEARLY INDICATED IN THE EXECUTIVE BOARD AND FULL BOARD MEETING MINUTES, ALL FINANCIAL REPORTING IS PROVIDED TO ALL PARTIES. THE IRS FORM 990 WILL ALSO BE MADE AVAILABLE UPON REQUEST TO THE EXECUTIVE DIRECTOR. ANY PUBLIC REQUEST TO VIEW THESE DOCUMENTS ALONG WITH THE IRS FORM 1023 AND THE TAX EXEMPT DETERMINATION LETTER FROM THE IRS WILL ALSO BE MADE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2TRANSFER OF FUNDS TO THE WOODLAND FOUNDATION = -$1975720
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3TRASFER OF FUNDS WERE MADE TO THE WOODLAND FOUNDATION, A TAX EXEMPT, 501C3 ENTITY, FID 83-4057982.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE EXECUTIVE COMMITTEE PERFORMS THE FOLLOWING ACTIONS 1. BOARD MEMBERS, NOT HAVING A CONFLICT OF INTEREST, APPROVE THE EXECUTIVE DIRECTORS, ANNUAL SALARY, 2. THE BOARD CONDUCTS AN INTERNAL SURVEY OF THE COMPENSATION PAID TO OTHER EXECUTIVE DIRECTORS, MORE THAN 3, OF SIMILIAR BANKING TRAINING ORGANIZATIONS AROUND THE UNITED STATES, 3. THE EXECUTIVE COMMITTEE ADEQUATELY AND CONCURRENTLY DOCUMENTS THAT THE EXECUTIVE DIRECTOR COMPENSATION PACKAGE IS WITHIN THE RANGE OF SUCH COMPARABLE DATA. 4. THE COMPENSATION PACKAGE IS APPROVED IN ADVANCE OF THE COMPENSATION EARNED. 5. THE EXECUTIVE COMMITTEE HAS ADOPTED THE PROVISIONS OF TREASURY REGULATION SECTION 53 .4958-6 C 1 III. THE CONFLICT OF INTEREST POLICY PRECLUDES ANY EXECUTIVE COMMITTEE MEMBERS WHO HAVE A FINANCIAL INTEREST IN THE COMPENSATION TRANSACTION, WHETHER DIRECTLY OR INDIRECTLY THROUGH A FAMILY OR BUSINESS RELATION WITH A PARTY TO THE TRANSACTION, FROM VOTING ON THE APPROVAL OF THE TRANSACTION. 6. THE EXECUTIVE COMMITTEE MEMBERS NOT HAVING A CONFLICT OF INTEREST WILL REVIEW THE SALARIES OF AT LEAST 3 DIFFERENT PERSONS WITH POSITIONS SIMILAR TO THE EXEC. DIRECTORS, AT COMPARABLE SCHOOLS TO ENSURE THAT THE EXECUTIVE DIRECTORS AGGREGATE COMPENSATION PACKAGE IS NOT MORE THAN THE EXECUTIVE DIRECTORS PEERS. 7. THE DOCUMENTATION INCLUDES THE FOLLOWING A. THE TERMS OF THE COMPENSATION PACKAGE AND THE DATE IT WAS APPROVED, B. THE MEMBERS OF THE EXECUTIVE COMMITTEE WHO WERE PRESENT DURING THE DEBATE ON THE COMPENSATION PACKAGE AND THOSE WHO VOTED ON ITS APPROVAL, C. THE COMPARABLE DATA RELIED UPON BY THE EXECUTIVE COMMITTEE AND THE MEANS BY WHICH THE EXECUTIVE COMMITTEE OBTAINED THE DATA AND THE RECUSAL OF ANY MEMBERS OF THE EXECUTIVE COMMITTEE WHO MAY HAVE HAD A CONFLICT OF INTEREST. D. THE EXEC. COMMITTEE MUST PREPARE THIS DOCUMENTATION BEFORE THE LATER OF 60 DAYS AFTER THE VOTE OR THE NEXT MEETING OF THE EXECUTIVE COMMITTEE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5BOARD OF DIRECTORS MEET BI-ANNUALLY TO ADDRESS POLICY ISSUES, CIRRICULUM CHANGES, TEACHER EVALUATIONS AND NEW HIRES, INVESTMENT POLICY REVIEW AND POLICY DECISIONS, ADVERTISING EFFORTS, ETC. DURING THESE MEETINGS ANY ISSUES IMPACTING CONFLICT OF INTEREST, PROHIBITIVE TRANSACTIONS WILL BE ADDRESSED BY THE FULL BOARD OF DIRECTORS AND ACTED UPON .
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6TSBS, INC. IS COMPRISED OF THE PARTICIPATING STATE BANKER ASSOCIATIONS THAT PARTICIPATE IN THE ORGANIZATION.

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$7,766,024
Liabilities
$75,715
Net assets
$7,690,309
Revenue
$2,757,747
Expenses
$2,190,243
Net income
$567,504
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$6.61$0.03$6.57$2.92$2.58$0.34
2024Detailed filing. Detailed filing data is available for this year.$6.19$0.04$6.15$2.45$2.37$0.09
2023Detailed filing. Detailed filing data is available for this year.$6.63$0.06$6.57$2.46$2.17$0.29
2022Detailed filing. Detailed filing data is available for this year.$7.77$0.08$7.69$2.76$2.19$0.57
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.4$0.22$10.2$0.76$1.74$0.98
2020Detailed filing. Detailed filing data is available for this year.$11.3$0.11$11.2$1.93$1.41$0.52
2019Detailed filing. Detailed filing data is available for this year.$13.6$0.08$13.5$2.71$2.51$0.20
2018Detailed filing. Detailed filing data is available for this year.$13.4$0.60$12.8$3.66$2.16$1.50
2017Detailed filing. Detailed filing data is available for this year.$12.5$0.65$11.9$2.62$2.09$0.53
2016Detailed filing. Detailed filing data is available for this year.$11.5$0.69$10.8$2.50$2.16$0.34
2015Detailed filing. Detailed filing data is available for this year.$11.8$0.75$11.0$3.09$2.10$1.00
2014Detailed filing. Detailed filing data is available for this year.$11.5$0.76$10.7$2.98$2.06$0.92
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.85$0.84$9.01$1.97
2012Summary only. Only limited summary data is available for this year.$8.80$0.81$7.99$2.19$1.85$0.34
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.99$1.13$7.86$1.90