Liabilities / Assets
17th percentile
Higher debt load relative to assets than 17% of similar nonprofits.
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
0.01x
Liabilities / Revenue
16th percentile
Higher debt load relative to revenue than 16% of similar nonprofits.
Net Margin
48th percentile
Higher net margin than 48% of similar nonprofits.
Top Officer Pay
88th percentile
Higher top officer pay than 88% of similar nonprofits.
Top officer pay equals 12.1% of source-year revenue.
Asset Growth
15th percentile
Faster asset growth than 15% of similar nonprofits.
Revenue Growth
33rd percentile
Faster revenue growth than 33% of similar nonprofits.
Balance Sheet
Assets
Down$6,193,102
Down $434,443 (-6.6%) from 2023
Net Assets
Down$6,154,535
Down $411,035 (-6.3%) from 2023
Liabilities
Down$38,567
Down $23,408 (-38%) from 2023
Revenue And Expenses
Revenue
Down$2,453,515
Down $3,335 (-0.1%) from 2023
Expenses
Up$2,368,212
Up $200,582 (+9.3%) from 2023
Net Income
Down$85,303
Down $203,917 (-71%) from 2023
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Sep 1, 2023 to Aug 31, 2024
- Signed
- Jan 27, 2025
- Return Version
- 2023v6.0
- Gross Receipts
- $4,207,423
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
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Investments in Publicly Traded Securities | $3,993,036 | $3,674,413 | ▼ $318,623 |
| Land, Buildings, and Equipment, Net | $1,654,812 | $1,651,079 | ▼ $3,733 |
| Cash and Non-Interest-Bearing Accounts | $542,530 | $527,025 | ▼ $15,505 |
| Investments Other Securities | $434,687 | $338,102 | ▼ $96,585 |
| Prepaid Expenses and Deferred Charges | $500 | $500 | → $0 |
| 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 | - |
| Total Assets | $6,627,545 | $6,193,102 | ▼ $434,443 |
| Other Assets Total | $1,980 | $1,983 | ▲ $3 |
| Liabilities | |||
| Deferred Revenue | $61,975 | $31,650 | ▼ $30,325 |
| Accounts Payable and Accrued Expenses | - | $6,917 | - |
| Total Liabilities | $61,975 | $38,567 | ▼ $23,408 |
| Net Assets / Fund Balance | |||
| Net Assets Without Donor Restrictions | $6,565,570 | $6,154,535 | ▼ $411,035 |
| Total Net Assets Fund Balance | $6,565,570 | $6,154,535 | ▼ $411,035 |
| Total Liabilities and Net Assets / Fund Balance | $6,627,545 | $6,193,102 | ▼ $434,443 |
Asset Categories
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Land | $956,000 | - | $956,000 |
| Buildings | $676,529 | $209,471 | $886,000 |
| Other Land Buildings | $18,550 | $123,615 | $142,165 |
| Equipment | - | $10,372 | $10,372 |
Compensation and Service Providers
Employees
| Name | Title | Full / Part Time | Base | Other | Total |
|---|---|---|---|---|---|
| John Naughton | Executive Director | FT | $249,625 | $48,419 | $298,044 |
| Stephen David | President | PT | $17,500 | - | $17,500 |
| Michael Allen | President | PT | $15,000 | - | $15,000 |
| Joseph D Hudgins | President | PT | $12,500 | - | $12,500 |
Board Members and Trustees
| Name | Title |
|---|---|
| Colin Barrett | Chairman |
| Fred Green | Chairman |
| Scott E Latham | Chairman |
Highest Paid Contractors
| Contractor | Services | Location | Compensation |
|---|---|---|---|
| Michael Highfield | Consulting | 119 TUXFORD ROAD, Starkville, MS 39759 | $135,921 |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $0
- Program Service Revenue
- $2,336,508
- Investment Income
- $114,807
- Other Revenue
- $2,200
- Change in Net Assets
- $85,303
Audited Revenue Reconciliation
- Revenue per Audited Statements
- $2,431,131
- Revenue Not Reported on Financial Statements
- $22,384
- Revenue Not Reported on Form 990
- $378,389
- Total Revenue per Audited Statements
- $2,809,520
- Total Revenue per Form 990
- $2,453,515
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Other Expenses | $1,393,004 |
| Salaries, Compensation, and Employee Benefits | $975,208 |
| Grants and Similar Amounts Paid | $0 |
| Professional Fundraising Fees | $0 |
| Total Fundraising Expense | $0 |
Functional Expense Allocation
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Other Salaries and Wages | - | $430,660 | - | $430,660 |
| Current Officers, Directors, Trustees, and Key Employees | $368,111 | - | - | $368,111 |
| Travel | $196,338 | - | - | $196,338 |
| Office Expenses | - | $105,446 | - | $105,446 |
| Other Employee Benefits | - | $101,801 | - | $101,801 |
| Other Expenses | $77,072 | - | - | $77,072 |
| Fees for Services Other | - | $46,250 | - | $46,250 |
| Payroll Taxes | - | $45,814 | - | $45,814 |
| All Other Expenses | $34,874 | - | - | $34,874 |
| Occupancy | - | $31,054 | - | $31,054 |
| Pension Plan Contributions | - | $28,822 | - | $28,822 |
| Advertising | $28,670 | - | - | $28,670 |
| Depreciation Depletion | - | $22,856 | - | $22,856 |
| Fees for Service Investment Mgmnt Fees | - | $22,384 | - | $22,384 |
| Fees for Services Accounting | - | $19,913 | - | $19,913 |
| Information Technology | $16,429 | - | - | $16,429 |
| Insurance | - | $8,454 | - | $8,454 |
| Fees for Services Legal | - | $4,763 | - | $4,763 |
| Total Functional Expenses | $1,499,995 | $868,217 | $0 | $2,368,212 |
Audited Expense Reconciliation
| Line Item | Amount |
|---|---|
| Total Expenses per Form 990 | $2,368,212 |
| Expenses per Audited Statements | $2,273,353 |
| Total Expenses per Audited Statements | $2,273,353 |
| Expenses Not Reported on Financial Statements | $94,859 |
| Other Expense Adjustments | $72,475 |
Fundraising, Events, and Gaming
- Fundraising activities
- No
- Gaming activities
- No
- Professional fundraiser used
- No
Fundraising and Gaming Totals
| Line Item | Amount |
|---|---|
| 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 Item | Beginning | End | Change |
|---|---|---|---|
| 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, Section B, Line 11B
“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, Section C, Line 19
“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
- 2025-01-27
- Discuss with paid preparer
- Yes
Organization Details
- Principal Officer
- John Naughton
- Formed
- 1981
- Legal Domicile
- La
- Voting Board Members
- 6
- Independent Board Members
- 3
- Employees
- 16
- 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
Form 990, Part XI, Line 9
“= -$947202”
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 AUGUST 31, 2024, NO UNCERTAIN TAX POSITIONS WERE DETERMINED TO EXIST.”
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 505 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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|---|---|---|
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| IRS990/AccountsPayableAccrExpnssGrp/EOYAmt | 0 | 6917 |
| IRS990/AccountsReceivableGrp/EOYAmt | 0 | 0 |
| IRS990/ActivitiesConductedPrtshpInd | 0 | false |
| IRS990/ActivityOrMissionDesc | 0 | TSBS IS AN EDUCATIONAL INSTITUTION FOR THE BANKING INDUSTRY PROVIDING CLASSROOM TRAINING TO BANKING INDUSTRY PERSONNEL IN A WIDE VARIETY OF FINANCIAL RELATED MATTERS. |
| IRS990/AdvertisingGrp/ProgramServicesAmt | 0 | 28670 |
| IRS990/AdvertisingGrp/TotalAmt | 0 | 28670 |
| IRS990/AllOtherExpensesGrp/ProgramServicesAmt | 0 | 34874 |
| IRS990/AllOtherExpensesGrp/TotalAmt | 0 | 34874 |
| IRS990/AnnualDisclosureCoveredPrsnInd | 0 | false |
| IRS990/AuditCommitteeInd | 0 | true |
| IRS990/BackupWthldComplianceInd | 0 | true |
| IRS990/BenefitsToMembersGrp/TotalAmt | 0 | 0 |
| IRS990/BooksInCareOfDetail/PersonNm | 0 | JOHN NAUGHTON |
| IRS990/BooksInCareOfDetail/PhoneNum | 0 | 2257668595 |
| IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt | 0 | 4273 HIGHLAND ROAD |
| IRS990/BooksInCareOfDetail/USAddress/CityNm | 0 | BATON ROUGE |
| IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd | 0 | LA |
| IRS990/BooksInCareOfDetail/USAddress/ZIPCd | 0 | 70808 |
| IRS990/BusinessRlnWith35CtrlEntInd | 0 | false |
| IRS990/BusinessRlnWithFamMemInd | 0 | false |
| IRS990/BusinessRlnWithOrgMemInd | 0 | false |
| IRS990/CashNonInterestBearingGrp/BOYAmt | 0 | 542530 |
| IRS990/CashNonInterestBearingGrp/EOYAmt | 0 | 527025 |
| IRS990/ChangeToOrgDocumentsInd | 0 | false |
| IRS990/CntrctRcvdGreaterThan100KCnt | 0 | 1 |
| IRS990/CollectionsOfArtInd | 0 | false |
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| IRS990/DescribedInSection501c3Ind | 0 | true |
| IRS990/DisregardedEntityInd | 0 | false |
| IRS990/DocumentRetentionPolicyInd | 0 | true |
| IRS990/DonorAdvisedFundInd | 0 | false |
| IRS990/DonorRstrOrQuasiEndowmentsInd | 0 | false |
| IRS990/ElectionOfBoardMembersInd | 0 | true |
| IRS990/EmployeeCnt | 0 | 16 |
| IRS990/EmploymentTaxReturnsFiledInd | 0 | true |
| IRS990/EngagedInExcessBenefitTransInd | 0 | false |
| IRS990/ExpenseAmt | 0 | 1499995 |
| IRS990/FamilyOrBusinessRlnInd | 0 | false |
| IRS990/FederalGrantAuditRequiredInd | 0 | false |
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| IRS990/FeesForServicesAccountingGrp/TotalAmt | 0 | 19913 |
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| IRS990/FeesForServicesLegalGrp/TotalAmt | 0 | 4763 |
| IRS990/FeesForServicesLobbyingGrp/TotalAmt | 0 | 0 |
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| IRS990/ForeignActivitiesInd | 0 | false |
| IRS990/ForeignFinancialAccountInd | 0 | false |
| IRS990/ForeignGrantsGrp/TotalAmt | 0 | 0 |
| IRS990/ForeignOfficeInd | 0 | false |
| IRS990/Form1098CFiledInd | 0 | false |
| IRS990/Form8282FiledCnt | 0 | 0 |
| IRS990/Form8282PropertyDisposedOfInd | 0 | false |
| IRS990/Form8899Filedind | 0 | false |
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| IRS990/Form990PartVIISectionAGrp/OfficerInd | 1 | X |
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| IRS990/Form990PartVIISectionAGrp/OfficerInd | 5 | X |
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| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 6 | 0 |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 0 | JOHN NAUGHTON |
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| IRS990/Form990PartVIISectionAGrp/PersonNm | 2 | Michael Allen |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 3 | Joseph D Hudgins |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 4 | Scott E Latham |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 5 | Colin Barrett |
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| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 0 | 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 AUGUST 31, 2024, NO UNCERTAIN TAX POSITIONS WERE DETERMINED TO EXIST. |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 1 | OTHER INVESTMENT COST $72475 |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | Part X : FIN48 Footnote |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | Part XII, Line 4b: Other revenue amounts included on 990 but not included in F/S |
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| IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt | 0 | ORGANIZATION 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/ExplanationTxt | 1 | NO TRACKING OF RACE OF ANY STUDENT/FACULTY/STAFF IS PERFORMED. RACIALLY, NON-DISCRIMINATORY POLICIES ARE IN PLACE. NO FUNDRAISING ACTIVITIES ARE USED. |
| IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | Schedule E, Line 3 - Racially Nondiscriminatory Policy Publicized |
| IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | Schedule E, Line 4 - Explanation of Records and Materials Not Maintained |
| IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | Schedule E, Line 5 - Explanation of Organization Discrimination by Race |
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| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | 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. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | 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. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | = -$947202 |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 3 | 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. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 4 | 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 . |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 5 | TSBS, INC. IS COMPRISED OF THE PARTICIPATING STATE BANKER ASSOCIATIONS THAT PARTICIPATE IN THE ORGANIZATION. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 6 | 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. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 7 | 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. |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | Form 990, Part VI, Section B, Line 11b |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | Form 990, Part VI, Section C, Line 19 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | Form 990, Part XI, Line 9 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 3 | PART VI LINE 15B |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 4 | PART VI, LINE 12C |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 5 | PART VI, LINE 6 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 6 | PART VI, LINE 7A |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 7 | PART VII, SECTION A |
| IRS990ScheduleR/AssetExchangeInd | 0 | false |
| IRS990ScheduleR/AssetPurchaseFromOtherOrgInd | 0 | false |
| IRS990ScheduleR/AssetSaleToOtherOrgInd | 0 | false |
| IRS990ScheduleR/DivRelatedOrganizationInd | 0 | false |
Document Assets
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Filings
Displayed year
2024 • Form 990Detailed filing. Detailed filing data is available for this year.
- Assets
- $6,193,102
- Liabilities
- $38,567
- Net assets
- $6,154,535
- Revenue
- $2,453,515
- Expenses
- $2,368,212
- Net income
- $85,303