The Massachusetts Bankers Association (MBA) is a business league and trade association representing the banking industry in Massachusetts. Founded in 1905, the organization serves as the unified voice for its member banks and advocates for consumers, businesses, and bankers throughout the Commonwealth of Massachusetts and across New England.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$2.7M
+5.5% YoY
Annual Giving
$199K
-5.7% YoY
Grant Count
69
+35.3% YoY
Avg Grant Size
$3K
-30.3% YoY
Under IRS private-foundation payout rules, Massachusetts Bankers Association reported a distributable amount of $126K for 2024 — the minimum it must pay out in qualifying distributions.
Mission & Focus Areas
The MBA's guiding principle is to promote banking within the commonwealth. The organization's mission is to be the premier partner and trusted resource for members throughout Massachusetts and across New England, accomplishing this through a proactive focus on exceptional solutions, advocacy, and thought leadership for the banking industry.
The association provides members, the public, and media with up-to-date information relating to the association and the banking industry.
Grantmaking
The Charitable Foundation is a private foundation focused on grantmaking in Education, Philanthropy, Voluntarism & Grantmaking, and Human Services, primarily in Massachusetts, Rhode Island, and New York.
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Geographic Focus
Where this funder awards grants
The Massachusetts Bankers Association Charitable Foundation primarily funds organizations in Massachusetts, Rhode Island, and New York. The Scholarship Foundation focuses on Massachusetts, Connecticut, and Rhode Island.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
Massachusetts Bankers Association (Main Organization)
As of December 2023:
- Total assets: $26,717,304
- Total revenues: $7,749,904
- Total expenses: $7,004,460
- Number of employees: 22
Revenue Breakdown (2023):
- Total grants and contributions: $2,708,574
- Program services: $3,799,279
Massachusetts Bankers Association Group Insurance Trust
As of December 2023:
- Total assets: $5,054,551
- Total revenues: $169,616
- Total expenses: $200,529
- Program services revenue: $99,350
- Investment income and dividends: $70,266
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $2,663,523 | $2,524,742 | $2,531,284 |
| Revenue | $188,757 | $189,749 | $285,666 |
| Expenses | $319,183 | $335,155 | $297,734 |
| Qualifying Distributions | $315,683 | $334,761 | $296,234 |
| Net Investment Income | $118,863 | $118,655 | $49,505 |
| Distributable Amount | $126,109 | $122,856 | $127,375 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
Grant Size Distribution
250 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Just a Start ($5,000), Junior Achievement of Southern Mass ($5,000), Junior Achievement of Greater Boston ($5,000).
| Recipient | Purpose | Amount |
|---|---|---|
| VOLUNTEERS IN PUBLIC SCHOOL OF WESTFIELD INC WESTFIELD, MA | EXEMPT PURPOSE | $1,000 |
| FRIENDS OF THE JACOB EDWARDS LIBRARY SOUTHBRIDGE, MA | EXEMPT PURPOSE | $2,000 |
| JUST A START CAMBRIDGE, MA | EXEMPT PURPOSE | $5,000 |
| JUNIOR ACHIEVEMENT OF SOUTHERN MASS NEW BEDFORD, MA | EXEMPT PURPOSE | $5,000 |
| JUNIOR ACHIEVEMENT OF GREATER BOSTON BOSTON, MA | EXEMPT PURPOSE | $5,000 |
| INTERISE BOSTON, MA | EXEMPT PURPOSE | $2,000 |
| INQUILINOS BORICUAS EN ACCION INC BOSTON, MA | EXEMPT PURPOSE | $1,000 |
| HOUSING CORPORATION OF ARLINGTON ARLINGTON, MA | EXEMPT PURPOSE | $5,000 |
| HEALTH MINISTRY INC HYANNIS, MA | EXEMPT PURPOSE | $2,000 |
| GIRL'S INCORPORATED OF TAUNTON TAUNTON, MA | EXEMPT PURPOSE | $5,000 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| BRAD PAPALARDO | CLERK | 1 | — |
| KEVIN M TIERNEY SR | DIRECTOR | 1 | — |
| LISA R MURRAY | DIRECTOR | 1 | — |
| DENNIS SHEEHAN | DIRECTOR | 1 | — |
| JAMES M DUNPHY | DIRECTOR | 1 | — |
| ROBERT FRAZER | CHAIRPERSON/DIRECTOR | 1 | — |
| KATHLEEN MURPHY | PRESIDENT | 1 | — |
| WILLIAM J TSOULES | SR. VP/TREASURER | 1 | — |
Recent News & Activity
Recent developments and announcements
The Massachusetts Bankers Association Charitable Foundation has been active in community grantmaking, with recent announcements of grant distributions including:
Massachusetts Bankers Association Honors MVES with $5,000 Community GrantA $5,000 community grant award to MVES
Massachusetts Bankers Association Honors MVES with $5,000 Community GrantCommunity grants totaling $112,500 in one distribution period
Mass. Bankers Association Gives $112,500 In Community GrantsCommunity grants totaling $128,000 in another distribution period
Mass. Bankers Association Gives $112,500 In Community GrantsThe foundation continues to support nonprofit organizations focused on human services, education, and community development across its service region.
MBA Charitable Foundation Awards $128K In Community GrantsSubject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What does Massachusetts Bankers Association fund?
The MBA's guiding principle is to promote banking within the commonwealth. The organization's mission is to be the premier partner and trusted resource for members throughout Massachusetts and across New England, accomplishing this through a proactive focus on exceptional solutions, advocacy, and thought leadership for the banking industry. The association provides members, the public, and media with up-to-date information relating to the association and the banking industry.
How do I apply for a grant from Massachusetts Bankers Association?
The Charitable Foundation is a private foundation focused on grantmaking in Education, Philanthropy, Voluntarism & Grantmaking, and Human Services, primarily in Massachusetts, Rhode Island, and New York. **Financial Profile:** • Total assets: $2,663,573 • Total giving: $199,200 (most recent filing) • Typical award range: $100–$49,500 **Recent Grant Activity:** The foundation made 51 grants in its most recent filing, including: • REACH Beyond Domestic Violence: $5,000 • Hawaii Community Foundati…
Where does Massachusetts Bankers Association make grants?
The Massachusetts Bankers Association Charitable Foundation primarily funds organizations in Massachusetts, Rhode Island, and New York. The Scholarship Foundation focuses on Massachusetts, Connecticut, and Rhode Island.
What size grants does Massachusetts Bankers Association award?
In 2024, Massachusetts Bankers Association awarded 69 grants totaling $199K — an average of about $3K per grant, based on its IRS Form 990 filings.
How much is Massachusetts Bankers Association required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Massachusetts Bankers Association reported a distributable amount of $126K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Massachusetts Bankers Association's EIN?
Massachusetts Bankers Association's EIN (Employer Identification Number) is 04-3325424. IRS Form 990 filing data is available on this page for 2020–2024.
Explore Open Grants
Browse active grant opportunities in Massachusetts Bankers Association's focus areas in our free grants database
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Data last updated June 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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