Connecticut Mortgage Bankers Association Inc
Connecticut Mortgage Bankers Association Inc: Stable Revenue, Fluctuating Assets
EIN: 222553995 · New Britain, CT · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $153K |
| Total Expenses | $221K |
| Program Spending | 70% |
| Net Assets | $66K |
| Transparency Score | 75/100 |
Is Connecticut Mortgage Bankers Association Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Connecticut Mortgage Bankers Association Inc directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Connecticut Mortgage Bankers Association Inc
Connecticut Mortgage Bankers Association Inc (EIN: 222553995) is a nonprofit organization based in New Britain, CT. The organization reported total revenue of $153K and total assets of $35K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Connecticut Mortgage Bankers Association Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Connecticut Mortgage Bankers Association Inc is a small nonprofit that has been operating for 41 years, with 13 years of IRS 990 filings on record (2012–2024). Revenue has grown at a compound annual rate of -1.1%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $198K |
| Total Expenses | $221K |
| Surplus / Deficit | $-22,517 |
| Total Assets | $73K |
| Total Liabilities | $7K |
| Net Assets | $66K |
| Operating Margin | -11.4% |
| Debt-to-Asset Ratio | 9.7% |
| Months of Reserves | 4.0 months |
Financial Health Grade: B
In 2024, Connecticut Mortgage Bankers Association Inc reported a deficit of $23K with expenses exceeding revenue, holds 4.0 months of operating reserves (adequate), has a debt-to-asset ratio of 9.7% (very low leverage).
Financial Trends
Over 13 years of filings (2012–2024), Connecticut Mortgage Bankers Association Inc's revenue has declined at a compound annual growth rate (CAGR) of -1.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | -12.2% | -8.1% | -21.7% |
| 2023 | -28.1% | +5.1% | -12.8% |
| 2022 | +79.0% | +43.3% | +392.6% |
| 2021 | -30.0% | -35.9% | +263.0% |
| 2020 | -17.9% | -24.7% | +519.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 1985 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Connecticut Mortgage Bankers Association Inc with a Mission Score of 75 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 20%
- programs: 70%
- fundraising: 10%
According to IRS 990 filings, Connecticut Mortgage Bankers Association Inc allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $23K, with expenses exceeding revenue.
- Debt-to-asset ratio: 9.7%.
Executive Compensation Analysis
Executive compensation cannot be assessed as the provided data does not include specific compensation figures for executives.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Connecticut Mortgage Bankers Association Inc's IRS 990 filings:
- Significant fluctuation in total assets, from a low of $968 in 2019 to a high of $107,318 in 2022, warrants further investigation into asset management strategies.
- The organization consistently reports 0% lobbying costs, which might be a red flag if the organization engages in any form of advocacy that could be misclassified or not reported.
- The provided data lacks specific details on program activities and outcomes, making it difficult to fully evaluate the impact of the organization's mission.
Strengths
The following positive indicators were identified for Connecticut Mortgage Bankers Association Inc:
- Consistent revenue generation over several years, demonstrating financial stability.
- Low liability figures across all years suggest a healthy financial position with minimal debt.
- The organization has consistently maintained a positive asset balance, indicating sound financial management.
- No reported lobbying expenses, suggesting a focus on core mission without direct political influence.
Frequently Asked Questions about Connecticut Mortgage Bankers Association Inc
Is Connecticut Mortgage Bankers Association Inc a legitimate charity?
Connecticut Mortgage Bankers Association Inc (EIN: 222553995) is a registered tax-exempt nonprofit based in Connecticut. Our AI analysis gives it a Mission Score of 75/100. It has 13 years of IRS 990 filings on record. Total revenue: $153K. 3 red flags identified. 4 strengths noted. Financial health grade: B.
How does Connecticut Mortgage Bankers Association Inc spend its money?
Connecticut Mortgage Bankers Association Inc directs 70% of its spending to programs and services. Fundraising costs 10%. This meets the 65% industry benchmark.
Are donations to Connecticut Mortgage Bankers Association Inc tax-deductible?
Connecticut Mortgage Bankers Association Inc is registered as a tax-exempt nonprofit (EIN: 222553995). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Connecticut Mortgage Bankers Association Inc's spending goes to programs?
Connecticut Mortgage Bankers Association Inc directs 70% to programs, 10% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
Where is Connecticut Mortgage Bankers Association Inc located?
Connecticut Mortgage Bankers Association Inc is headquartered in New Britain, Connecticut and files with the IRS under EIN 222553995.
How many years of IRS 990 filings does Connecticut Mortgage Bankers Association Inc have?
Connecticut Mortgage Bankers Association Inc has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $153K in total revenue.
What does Connecticut Mortgage Bankers Association Inc do?
Connecticut Mortgage Bankers Association Inc is a nonprofit organization in the Unknown sector, located in New Britain, Connecticut. It is classified under NTEE code Unknown.
How much revenue does Connecticut Mortgage Bankers Association Inc have?
Connecticut Mortgage Bankers Association Inc reported total revenue of $153,153. Based on 13 IRS 990 filings on record.
What are Connecticut Mortgage Bankers Association Inc's total assets?
Connecticut Mortgage Bankers Association Inc holds total assets of $35,477 as reported in IRS 990 filings.
Where is Connecticut Mortgage Bankers Association Inc located?
Connecticut Mortgage Bankers Association Inc is based in New Britain, Connecticut.
What is Connecticut Mortgage Bankers Association Inc's EIN?
Connecticut Mortgage Bankers Association Inc's Employer Identification Number (EIN) is 222553995. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Connecticut Mortgage Bankers Association Inc?
Connecticut Mortgage Bankers Association Inc is classified under NTEE code Unknown (Unknown).
Is Connecticut Mortgage Bankers Association Inc a registered 501(c)(3)?
Connecticut Mortgage Bankers Association Inc appears in IRS records (EIN: 222553995). Check the IRS Tax Exempt Organization Search for the most current determination letter status.
Does Connecticut Mortgage Bankers Association Inc file IRS Form 990?
Yes, Connecticut Mortgage Bankers Association Inc has 13 IRS Form 990 filings on record. The most recent covers tax period 202405.
What was Connecticut Mortgage Bankers Association Inc's revenue in 2024?
In the 202405 filing period, Connecticut Mortgage Bankers Association Inc reported total revenue of $197,984, total expenses of $220,501, and net assets of $73,302.
Is Connecticut Mortgage Bankers Association Inc's revenue growing or declining?
Connecticut Mortgage Bankers Association Inc's revenue is declining. Revenue went from $225,426 (202305) to $197,984 (202405), a -12.2% change. Based on 13 filings on record.
What is Connecticut Mortgage Bankers Association Inc's most recent 990 filing?
The most recent IRS Form 990 filing for Connecticut Mortgage Bankers Association Inc covers tax period 202405. It shows revenue of $197,984, expenses of $220,501, total assets of $73,302, and liabilities of $7,106.
How much does Connecticut Mortgage Bankers Association Inc spend on programs vs administration?
Based on IRS 990 analysis, Connecticut Mortgage Bankers Association Inc allocates approximately 70% of expenses to program services, 20% to administrative costs, and 10% to fundraising. Program spending is moderate relative to overhead.
Is Connecticut Mortgage Bankers Association Inc a trustworthy charity?
Based on AI analysis of IRS 990 data, Connecticut Mortgage Bankers Association Inc appears trustworthy. Mission Score: 75/100 (Good). 3 red flags identified. 4 strengths noted.
What are the red flags for Connecticut Mortgage Bankers Association Inc?
The following concerns were identified: Significant fluctuation in total assets, from a low of $968 in 2019 to a high of $107,318 in 2022, warrants further investigation into asset management strategies.. The organization consistently reports 0% lobbying costs, which might be a red flag if the organization engages in any form of advocacy that could be misclassified or not reported.. The provided data lacks specific details on program activities and outcomes, making it difficult to fully evaluate the impact of the organization's mission.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Connecticut Mortgage Bankers Association Inc's strengths?
Positive indicators for Connecticut Mortgage Bankers Association Inc include: Consistent revenue generation over several years, demonstrating financial stability.. Low liability figures across all years suggest a healthy financial position with minimal debt.. The organization has consistently maintained a positive asset balance, indicating sound financial management.. No reported lobbying expenses, suggesting a focus on core mission without direct political influence.. These findings are derived from AI analysis of the organization's financial filings.
How does Connecticut Mortgage Bankers Association Inc compensate executives?
Executive compensation cannot be assessed as the provided data does not include specific compensation figures for executives. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
What factors contributed to the substantial increase in assets from $968 in 2019 to $107,318 in 2022, and what is the current strategy for asset utilization?
The provided data does not offer specific details on the drivers behind the asset fluctuations. A deeper dive into financial statements would be needed to understand the nature of these assets (e.g., investments, property) and the strategic decisions made during these periods of significant change.
Given the consistent reporting of 0% lobbying costs, how does the organization engage with policy or regulatory matters relevant to mortgage bankers in Connecticut?
While direct lobbying expenses are reported as zero, the organization's nature suggests engagement with industry standards and regulations. This could occur through educational initiatives, industry forums, or indirect advocacy efforts not classified as lobbying, which would require further inquiry to understand their full scope.
Filing History
IRS 990 filing history for Connecticut Mortgage Bankers Association Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2012–2024), Connecticut Mortgage Bankers Association Inc's revenue has declined by 12.9%, moving from $227K to $198K. Total assets increased by 339% over the same period, from $17K to $73K. Total functional expenses rose by 0.5%, from $219K to $221K. In its most recent filing year (2024), Connecticut Mortgage Bankers Association Inc reported a deficit of $23K, with expenses exceeding revenue. The organization holds $7K in liabilities against $73K in assets (debt-to-asset ratio: 9.7%), resulting in net assets of $66K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $198K | $221K | $73K | $7K | — | — |
| 2023 | $225K | $240K | $94K | $5K | — | View 990 |
| 2022 | $314K | $228K | $107K | $4K | — | View 990 |
| 2021 | $175K | $159K | $22K | $4K | — | — |
| 2020 | $250K | $249K | $6K | $4K | — | View 990 |
| 2019 | $305K | $330K | $968 | $2K | — | View 990 |
| 2018 | $338K | $347K | $30K | $4K | — | — |
| 2017 | $333K | $366K | $39K | $5K | — | View 990 |
| 2016 | $341K | $353K | $72K | $4K | — | View 990 |
| 2015 | $315K | $332K | $83K | $4K | — | — |
| 2014 | $278K | $269K | $101K | $4K | — | View 990 |
| 2013 | $290K | $217K | $91K | $4K | — | View 990 |
| 2012 | $227K | $219K | $17K | $3K | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $198K, expenses of $221K, and assets of $73K (revenue -12.2% year-over-year).
- 2023: Revenue of $225K, expenses of $240K, and assets of $94K (revenue -28.1% year-over-year).
- 2022: Revenue of $314K, expenses of $228K, and assets of $107K (revenue +79.0% year-over-year).
- 2021: Revenue of $175K, expenses of $159K, and assets of $22K (revenue -30.0% year-over-year).
- 2020: Revenue of $250K, expenses of $249K, and assets of $6K (revenue -17.9% year-over-year).
- 2019: Revenue of $305K, expenses of $330K, and assets of $968 (revenue -9.9% year-over-year).
- 2018: Revenue of $338K, expenses of $347K, and assets of $30K (revenue +1.5% year-over-year).
- 2017: Revenue of $333K, expenses of $366K, and assets of $39K (revenue -2.4% year-over-year).
- 2016: Revenue of $341K, expenses of $353K, and assets of $72K (revenue +8.4% year-over-year).
- 2015: Revenue of $315K, expenses of $332K, and assets of $83K (revenue +13.0% year-over-year).
- 2014: Revenue of $278K, expenses of $269K, and assets of $101K (revenue -4.2% year-over-year).
- 2013: Revenue of $290K, expenses of $217K, and assets of $91K (revenue +27.7% year-over-year).
- 2012: Revenue of $227K, expenses of $219K, and assets of $17K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Connecticut Mortgage Bankers Association Inc:
Data Sources and Methodology
This transparency report for Connecticut Mortgage Bankers Association Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.