Civic Intelligence

Swift Us National Group

EIN 90-0897610 • 501(c)6 • Jersey City, NJ

Profile

The swift us national group (susa) represents the interests of the us members of the society for worldwide interbank financial telecommunication (swift). Swift promotes the common business interest of banks, securities institutions, corporations and others in the united states engaged in the transmission and routing of secure, confidential, financial messages. Swift communicates and interacts with other national and international organizations with respect to standards for financial messaging and transaction technology. Susa will promote the common business interests of banks, securities institutions, corporations and others in the united states engaged in the transmission and routing of secure, confidential financial messages.

575 Washington Blvd 17th FloorJersey City, NJ 07310

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

25th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)6 • $500k-$1M nonprofits • Source year 2023

Liabilities / Revenue

26th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)6 • $500k-$1M nonprofits • Source year 2023

Net Margin

7th percentile

-24%

Higher net margin than 7% of similar nonprofits.

501(c)6 • $500k-$1M nonprofits • Source year 2023

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

26th percentile

-5.0%

Faster asset growth than 26% of similar nonprofits.

501(c)6 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Revenue Growth

18th percentile

-7.4%

Faster revenue growth than 18% of similar nonprofits.

501(c)6 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Assets

Down

$679,533

Down $35,550 (-5.0%) from 2022

Liabilities

Flat

$0

Flat from 2022

Net Assets

Down

$679,533

Down $35,550 (-5.0%) from 2022

Revenue

Down

$146,683

Down $11,665 (-7.4%) from 2022

Expenses

Up

$182,233

Up $50,185 (+38%) from 2022

Net Income

Down

-$35,550

Down $61,850 (-235%) from 2022

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$800K$600K$400K$200K$0Assets 2013: $747,465Liabilities 2013: $0Net Assets 2013: $747,4652013Assets 2014: $786,544Liabilities 2014: $0Net Assets 2014: $786,5442014Assets 2015: $745,353Liabilities 2015: $0Net Assets 2015: $745,3532015Assets 2016: $714,343Liabilities 2016: $0Net Assets 2016: $714,3432016Assets 2017: $694,614Liabilities 2017: $0Net Assets 2017: $694,6142017Assets 2018: $683,074Liabilities 2018: $0Net Assets 2018: $683,0742018Assets 2019: $653,949Liabilities 2019: $0Net Assets 2019: $653,9492019Assets 2020: $672,396Liabilities 2020: $0Net Assets 2020: $672,3962020Assets 2021: $688,783Liabilities 2021: $0Net Assets 2021: $688,7832021Assets 2022: $715,083Liabilities 2022: $0Net Assets 2022: $715,0832022Assets 2023: $679,533Liabilities 2023: $0Net Assets 2023: $679,5332023

Highlighted filing

2023

Assets$679,533
Liabilities$0
Net Assets$679,533

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$300K$200K$100K$0-$100KRevenue 2013: $221,099Expenses 2013: $182,724Net Income 2013: $38,3752013Revenue 2014: $238,158Expenses 2014: $199,079Net Income 2014: $39,0792014Revenue 2015: $143,486Expenses 2015: $184,677Net Income 2015: -$41,1912015Revenue 2016: $151,611Expenses 2016: $182,621Net Income 2016: -$31,0102016Revenue 2017: $159,685Expenses 2017: $179,414Net Income 2017: -$19,7292017Revenue 2018: $177,977Expenses 2018: $189,517Net Income 2018: -$11,5402018Revenue 2019: $171,583Expenses 2019: $200,708Net Income 2019: -$29,1252019Revenue 2020: $156,575Expenses 2020: $138,128Net Income 2020: $18,4472020Revenue 2021: $150,736Expenses 2021: $134,349Net Income 2021: $16,3872021Revenue 2022: $158,348Expenses 2022: $132,048Net Income 2022: $26,3002022Revenue 2023: $146,683Expenses 2023: $182,233Net Income 2023: -$35,5502023

Highlighted filing

2023

Revenue$146,683
Expenses$182,233
Net Income-$35,550

Filings

Latest Detailed Filing

The latest 2023 filing currently has summary financial data only. Showing the latest detailed filing from 2022 below.

Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Jul 28, 2023
Return Version
2022v5.0
Gross Receipts
$158,348
Mission and Program Overview

Mission

The swift us national group (susa) represents the interests of the us members of the society for worldwide interbank financial telecommunication (swift). Swift promotes the common business interest of banks, securities institutions, corporations and others in the united states engaged in the transmission and routing of secure, confidential, financial messages. Swift communicates and interacts with other national and international organizations with respect to standards for financial messaging and transaction technology. Susa will promote the common business interests of banks, securities institutions, corporations and others in the united states engaged in the transmission and routing of secure, confidential financial messages.

Society for worldwide interbank financial telecommunication (swift) provides a network that enables financial institutions to send and receive information about financial transactions in a secure, standardized and reliable environment.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$407,515$407,665▲ $150
Cash and Non-Interest-Bearing Accounts$281,268$307,418▲ $26,150
Total Assets$688,783$715,083▲ $26,300
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$688,783$715,083▲ $26,300
Total Net Assets Fund Balance$688,783$715,083▲ $26,300
Total Liabilities and Net Assets / Fund Balance$688,783$715,083▲ $26,300
Compensation and Service Providers

Board Members and Trustees

NameTitle
David KretzChair/direct
Adam TowersDirector
Arthur AmbroseDirector
Charles J LebrunDirector
Emma LoftusDirector
Greg MurrayDirector
Holly BaillargeonDirector
Isabel SchmidtDirector
John HunterDirector
Lisa RossiDirector
Sara KrantzDirector
Stephanie WatsonDirector
Yawar ShahDirector
Kumar NarayanIncoming CHA
Raghu SrinivasanSecretary/di
Roy DeciccoUser Group C
Revenue and Support

Revenue Composition

Contributions and Grants
$158,198
Program Service Revenue
$0
Investment Income
$150
Other Revenue
$0
Change in Net Assets
$26,300

Audited Revenue Reconciliation

Revenue per Audited Statements
$158,348
Total Revenue per Audited Statements
$158,348
Total Revenue per Form 990
$158,348
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$132,048
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
Fees for Services Management---$93,610
Fees for Services Legal---$18,525
Fees for Services Accounting---$14,500
Advertising---$5,000
Office Expenses---$413
Total Functional Expenses$0$0$0$132,048

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$132,048
Total Expenses per Audited Statements$132,048
Total Expenses per Form 990$132,048
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
Annual disclosure for covered persons
No
Audit committee
No
Backup withholding compliance
No
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 3

As of january 1, 2017, the group has engaged jjm & pm ltd. To provide day- to-day management and administrative services to the group, as specified from time to time by the swift steering committee, necessary to the operation of swift. Dtsj, inc., who previously provided the day-to-day management and administrative services, has been retained by the group to provide periodic management and administrative services, as specified from time to time by the swift steering committee, necessary to the operation of swift.

Form 990, Page 6, Part VI, Line 6

The organization has members. The organization's bylaws provide that the members shall have the right to vote for or on any matter under the bylaws, including but not limited to, the right to vote for the election of a director or directors, or on the disposition of all or substantially all of the assets, or on a dissolution, or on any changes to the article of incorporation or the bylaws.

Form 990, Page 6, Part VI, Line 7A

The board of directors establish the policies governing the conduct of elections. At the quarterly meetings a majority of the voting members present and voting shall elect such number of directors as necessary to fill vacancies of directors whose terms expire as of such meeting.

Form 990, Page 6, Part VI, Line 11B

Electronic draft copies are sent to the usng steering committee chair of the organization for dissemination to the steering committee with written instructions to review and approve the form in accordance with irs regulations. Written comments and questions by the board, if any, are sent to the accountant for responses. Otherwise, the form is voted on and approved at the subsequent steering committee meeting.

Form 990, Page 6, Part VI, Line 19

Any member of the general public may, upon written request, inspect copies of: association governing documents financial statements form 990

Filing and Contact Details

Filer

Filer Name
Swift US National Group
EIN
90-0897610
Phone
2125520945
Address
575 WASHINGTON BLVD 17TH FLOOR, JERSEY CITY, NJ 07310

Signing Officer

Name
Kumar Narayan
Title
Incoming Chair
Phone
2125520945
Signed
2023-07-28
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kumar Narayan
Formed
2012
Legal Domicile
Dc
Voting Board Members
13
Independent Board Members
13
Employees
0

Preparer

Firm
Baratz & Associates Pa
Address
4B EVES DR STE 100, MARLTON, NJ 08053
Preparer
Steven M Green CPA
Phone
8569855688
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

The swift us national group (susa) represents the interests of the us members of the society for worldwide interbank financial telecommunication (swift). Swift promotes the common business interest of banks, securities institutions, corporations and others in the united states engaged in the transmission and routing of secure, confidential, financial messages. Swift communicates and interacts with other national and international organizations with respect to standards for financial messaging and transaction technology. Susa will promote the common business interests of banks, securities institutions, corporations and others in the united states engaged in the transmission and routing of secure, confidential financial messages.

Form 990, Page 2, Part III, Line 4A

The organization, through membership in swift, (i) promotes the common business interests of banks, securities institutions, corporations and others in the united states engaged in the transmission and routing of secure, confidential financial messages; (ii) to represent and advance the interests of the corporation and its members to and within the governance structure of the society for worldwide interbank financial telecommunication (swift); (iii) to communicate and interact with other national and international organizations with respect to standards for financial messaging and transaction technology; (iv) through improvement and standardization of financial messaging and transaction technology, to lower the cost of and reduce the risk associated with financial transactions, thereby facilitating business operations in general.

Financial Statement Notes

Schedule D, Page 3, Part X

Fasb asc 740-10-65-1 requires financial statement recognition of the impact of a tax position, if that position is more than likely than not to be sustained on examination, based on the technical merits of the position. The benefit is calculated as the largest amount that is more than 50 percent likely to be realized upon resolution of the benefit. The organization has evaluated its tax positions and believes all could be sustained upon examination. With few exceptions, the organization is no longer subject to income tax examinations by federal authorities for years before 2019.

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IRS990/MissionDesc0THE SWIFT US NATIONAL GROUP (SUSA) REPRESENTS THE INTERESTS OF THE US MEMBERS OF THE SOCIETY FOR WORLDWIDE INTERBANK FINANCIAL TELECOMMUNICATION (SWIFT). SWIFT PROMOTES THE COMMON BUSINESS INTEREST OF BANKS, SECURITIES INSTITUTIONS, CORPORATIONS AND OTHERS IN THE UNITED STATES ENGAGED IN THE TRANSMISSION AND ROUTING OF SECURE, CONFIDENTIAL, FINANCIAL MESSAGES. SWIFT COMMUNICATES AND INTERACTS WITH OTHER NATIONAL AND INTERNATIONAL ORGANIZATIONS WITH RESPECT TO STANDARDS FOR FINANCIAL MESSAGING AND TRANSACTION TECHNOLOGY. SUSA WILL PROMOTE THE COMMON BUSINESS INTERESTS OF BANKS, SECURITIES INSTITUTIONS, CORPORATIONS AND OTHERS IN THE UNITED STATES ENGAGED IN THE TRANSMISSION AND ROUTING OF SECURE, CONFIDENTIAL FINANCIAL MESSAGES.
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0FASB ASC 740-10-65-1 REQUIRES FINANCIAL STATEMENT RECOGNITION OF THE IMPACT OF A TAX POSITION, IF THAT POSITION IS MORE THAN LIKELY THAN NOT TO BE SUSTAINED ON EXAMINATION, BASED ON THE TECHNICAL MERITS OF THE POSITION. THE BENEFIT IS CALCULATED AS THE LARGEST AMOUNT THAT IS MORE THAN 50 PERCENT LIKELY TO BE REALIZED UPON RESOLUTION OF THE BENEFIT. THE ORGANIZATION HAS EVALUATED ITS TAX POSITIONS AND BELIEVES ALL COULD BE SUSTAINED UPON EXAMINATION. WITH FEW EXCEPTIONS, THE ORGANIZATION IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY FEDERAL AUTHORITIES FOR YEARS BEFORE 2019.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE SWIFT US NATIONAL GROUP (SUSA) REPRESENTS THE INTERESTS OF THE US MEMBERS OF THE SOCIETY FOR WORLDWIDE INTERBANK FINANCIAL TELECOMMUNICATION (SWIFT). SWIFT PROMOTES THE COMMON BUSINESS INTEREST OF BANKS, SECURITIES INSTITUTIONS, CORPORATIONS AND OTHERS IN THE UNITED STATES ENGAGED IN THE TRANSMISSION AND ROUTING OF SECURE, CONFIDENTIAL, FINANCIAL MESSAGES. SWIFT COMMUNICATES AND INTERACTS WITH OTHER NATIONAL AND INTERNATIONAL ORGANIZATIONS WITH RESPECT TO STANDARDS FOR FINANCIAL MESSAGING AND TRANSACTION TECHNOLOGY. SUSA WILL PROMOTE THE COMMON BUSINESS INTERESTS OF BANKS, SECURITIES INSTITUTIONS, CORPORATIONS AND OTHERS IN THE UNITED STATES ENGAGED IN THE TRANSMISSION AND ROUTING OF SECURE, CONFIDENTIAL FINANCIAL MESSAGES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION, THROUGH MEMBERSHIP IN SWIFT, (I) PROMOTES THE COMMON BUSINESS INTERESTS OF BANKS, SECURITIES INSTITUTIONS, CORPORATIONS AND OTHERS IN THE UNITED STATES ENGAGED IN THE TRANSMISSION AND ROUTING OF SECURE, CONFIDENTIAL FINANCIAL MESSAGES; (II) TO REPRESENT AND ADVANCE THE INTERESTS OF THE CORPORATION AND ITS MEMBERS TO AND WITHIN THE GOVERNANCE STRUCTURE OF THE SOCIETY FOR WORLDWIDE INTERBANK FINANCIAL TELECOMMUNICATION (SWIFT); (III) TO COMMUNICATE AND INTERACT WITH OTHER NATIONAL AND INTERNATIONAL ORGANIZATIONS WITH RESPECT TO STANDARDS FOR FINANCIAL MESSAGING AND TRANSACTION TECHNOLOGY; (IV) THROUGH IMPROVEMENT AND STANDARDIZATION OF FINANCIAL MESSAGING AND TRANSACTION TECHNOLOGY, TO LOWER THE COST OF AND REDUCE THE RISK ASSOCIATED WITH FINANCIAL TRANSACTIONS, THEREBY FACILITATING BUSINESS OPERATIONS IN GENERAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2AS OF JANUARY 1, 2017, THE GROUP HAS ENGAGED JJM & PM LTD. TO PROVIDE DAY- TO-DAY MANAGEMENT AND ADMINISTRATIVE SERVICES TO THE GROUP, AS SPECIFIED FROM TIME TO TIME BY THE SWIFT STEERING COMMITTEE, NECESSARY TO THE OPERATION OF SWIFT. DTSJ, INC., WHO PREVIOUSLY PROVIDED THE DAY-TO-DAY MANAGEMENT AND ADMINISTRATIVE SERVICES, HAS BEEN RETAINED BY THE GROUP TO PROVIDE PERIODIC MANAGEMENT AND ADMINISTRATIVE SERVICES, AS SPECIFIED FROM TIME TO TIME BY THE SWIFT STEERING COMMITTEE, NECESSARY TO THE OPERATION OF SWIFT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION HAS MEMBERS. THE ORGANIZATION'S BYLAWS PROVIDE THAT THE MEMBERS SHALL HAVE THE RIGHT TO VOTE FOR OR ON ANY MATTER UNDER THE BYLAWS, INCLUDING BUT NOT LIMITED TO, THE RIGHT TO VOTE FOR THE ELECTION OF A DIRECTOR OR DIRECTORS, OR ON THE DISPOSITION OF ALL OR SUBSTANTIALLY ALL OF THE ASSETS, OR ON A DISSOLUTION, OR ON ANY CHANGES TO THE ARTICLE OF INCORPORATION OR THE BYLAWS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE BOARD OF DIRECTORS ESTABLISH THE POLICIES GOVERNING THE CONDUCT OF ELECTIONS. AT THE QUARTERLY MEETINGS A MAJORITY OF THE VOTING MEMBERS PRESENT AND VOTING SHALL ELECT SUCH NUMBER OF DIRECTORS AS NECESSARY TO FILL VACANCIES OF DIRECTORS WHOSE TERMS EXPIRE AS OF SUCH MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5ELECTRONIC DRAFT COPIES ARE SENT TO THE USNG STEERING COMMITTEE CHAIR OF THE ORGANIZATION FOR DISSEMINATION TO THE STEERING COMMITTEE WITH WRITTEN INSTRUCTIONS TO REVIEW AND APPROVE THE FORM IN ACCORDANCE WITH IRS REGULATIONS. WRITTEN COMMENTS AND QUESTIONS BY THE BOARD, IF ANY, ARE SENT TO THE ACCOUNTANT FOR RESPONSES. OTHERWISE, THE FORM IS VOTED ON AND APPROVED AT THE SUBSEQUENT STEERING COMMITTEE MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6ANY MEMBER OF THE GENERAL PUBLIC MAY, UPON WRITTEN REQUEST, INSPECT COPIES OF: ASSOCIATION GOVERNING DOCUMENTS FINANCIAL STATEMENTS FORM 990
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 19
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ReturnHeader/ReturnTs02023-09-07T12:03:42-04:00
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ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

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