Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: Insurance Premiums fro

  total $3,545,877 · related or exempt $3,545,877

• 3 · Investment income

  total $36,566 · unrelated business $36,566

Functional expenses

Part IX, the statement of functional expenses.

• 4 · Benefits paid to or for members

  total $1,958,638

• 7 · Other salaries and wages

  total $286,896

• 8 · Pension plan contributions

  total $20,170

• 9 · Other employee benefits

  total $48,649

• 10 · Payroll taxes

  total $19,281

• 11c · Fees: accounting

  total $36,000

• 11g · Fees: other

  total $389

• 12 · Advertising and promotion

  total $115

• 13 · Office expenses

  total $787

• 14 · Information technology

  total $47,100

• 16 · Occupancy

  total $26,887

• 19 · Conferences, conventions and meetings

  total $633

• 22 · Depreciation, depletion and amortization

  total $2,313

• 23 · Insurance

  total $4,939

• 24a · Other expenses: Insurance Premiums

  total $1,217,032

• 24b · Other expenses: Dental ASO Fee

  total $129,557

• 24c · Other expenses: Dues & Subscriptions

  total $218

• 24e · All other expenses

  total $1,465

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $570,024 · end of year $453,062

• 2 · Savings and temporary cash investments

  beginning of year $1,261,398 · end of year $1,086,347

• 4 · Accounts receivable

  beginning of year $16,508 · end of year $7,446

• 10a · Land, buildings and equipment: cost or other basis

  $24,795

• 10b · Land, buildings and equipment: accumulated depreciation

  $24,795

• 10c · Land, buildings and equipment, net

  beginning of year $0 · end of year $0

• 17 · Accounts payable and accrued expenses

  beginning of year $27,723 · end of year $20,454

• 25 · Other liabilities

  beginning of year $190,340 · end of year $140,726

• 29 · Capital stock, trust principal or current funds

  beginning of year $0 · end of year $0

• 30 · Paid-in or capital surplus, or land, building or equipment fund

  beginning of year $0 · end of year $0

• 31 · Retained earnings, endowment or other funds

  beginning of year $1,629,867 · end of year $1,385,675

The filer's explanations (Part III)

Form 990, Schedule J, Line 3:

The officer compensation is paid by a related organization, Minnesota Bankers Association. The Trust relies on that organization to use some of the methods identified in Line 3 of Schedule J.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

• Adrian State Bank Adrian

• American State Bank Grygla

• Arlington State Bank Arlington

• B2 Bank Mountain Iron

• Bank of Maple Plain Maple Plain

• BANKWEST Rockford

• Border Bank Greenbush

• Citizens Bank Minnesota New Ulm

• Citizens National Bank Park Rapids

• Citizens State Bank of Roseau Roseau

• Citizens State Bank of Waverly Inc Waverly

• Citizens State Bank NYANYA

• Community Bank Owatonna Owatonna

• Community First Bank Menahga

• CornerStone State Bank Le Sueur

• Crown Bank Edina

• Currie State Bank Currie

• Deerwood Bank Deerwood

• Drake Bank St Paul

• Eagle Bank Glenwood

• Eagle Rock Bank Rochester

• Eagle Rock Bank Rochester

• Eitzen State Bank Caledonia

• Elysian Bank Elysian

• F&M Community Bank NA Preston

• Farmers & Merchants State Bank Alpha

• Farmers & Merchants State Bank Appleton

• Farmers & Merchants State Bank New York Mills

• Farmers & Merchants State Bank Pierz

• Farmers & Merchants State Bank Springfield

• Farmers & Merchants State Bank Springfield

• Farmers State Bank of Trimont Trimont

• Farmers State Bank of Underwood Underwood

• Farmers State Bank Hoffman

• First Bank Blue Earth Blue Earth

• First Financial Bank in Winnebago Winnebago

• First Independent Bank Russell

• First National Agency Fosston

• First National Bank Minnesota Saint Peter

• First National Bank North Walker

• First National Bank North Walker

• First National Bank Bemidji

• First National Bank Cokato

• First National Bank Coleraine

• First National Bank Fairfax

• First National Bank Le Center

• First National Bank McIntosh

• First National Bank Milaca

• First National Bank Moose Lake

• First National Bank Proctor

• First National Financial Services Elk River

• First Security Bank Byron

• First Southeast Bank Harmony

• First State Bank of Wyoming Wyoming

• First State Bank Bigfork

• First State Bank Fountain

• First State Bank Le Center

• FM Bank Granite Falls

• Franklin State Bank Franklin

• Freeport State Bank Freeport

• Frost State Bank Frost

• Global Innovations Bank Kiester

• Grand Timber Bank McGregor

• Heritage Bank Willmar

• Home Federal Savings BankRochester

• Home State BankWillmar

• HomeTown Bank Redwood Falls

• Integrity Bank Plus Wabasso

• Janesville State Bank Elysian

• Keen Bank Waseca

• Lake Central Bank Annandale

• Lake Country Community Bank Morristown

• Lake Elmo Bank Lake Elmo

• Lake Region Bank New London

• Lakeview Bank Lakeville

• Marshall County State Bank Newfolden

• Midwest Bank Detroit Lakes

• Minnesota Bankers Association Eden Prairie

• Minnesota Business Finance Corp Saint Cloud

• Minnesota First Credit & Savings Rochester

• Minnesota National Agency Sauk Centre

• Minnesota National Bank Sauk Centre

• MinnStar Bank NA Lake Crystal

• Northern State Bank Gonvick

• Northern State Bank Thief River Falls

• Northview Bank Finlayson

• Odin State Bank Odin

• Peoples State Bank of Wells Wells

• Peoples State Bank Plainview

• Perennial Bank Darwin

• Pine River State Bank Pine River

• Pioneer Bank Saint James

• Premier Bank Maplewood

• Prime Security Bank Karlstad

• PrinsBank Prinsburg

• Produce State Bank Hollandale

• Profinium Inc Fairmont

• Reliance Bank Faribault

• Root River State Bank Chatfield

• Saint Clair State Bank Saint Clair

• Security Bank & Trust Company Glencoe

• Security Bank Minnesota Albert Lea

• Security Bank USA Bemidji

• Security State Bank of Aitkin Aitkin

• Security State Bank of Marine Marine On St Croix

• Security State Bank Hibbing

• Security State Bank Kenyon

• Security State Bank Oklee

• Security State Bank Wanamingo

• Security State Bank Wanamingo

• Security State Bank Warroad

• Sentry Bank Saint Joseph

• Sentry Bank Saint Joseph

• State Bank of Bellingham Bellingham

• State Bank of Chandler Chandler

• State Bank of New Richland New Richland

• State Bank of Taunton Taunton

• State Bank of Taunton Taunton

• Sterling State Bank Austin

• Sunrise Banks Saint Paul

• The State Bank of Faribault Faribault

• Triumph State Bank Trimont

• UMACHABrooklyn Park

• United Community Bank Perham

• United Farmers State Bank Adams

• United Minnesota Bank New London

• United Prairie Bank Mountain Lake

• Valley Premier Bank Hawley

• Vantage Bank Kent

• Vergas State Bank Vergas

• Vermillion State Bank Vermillion

• Wadena State Bank Wadena

• Wanda State Bank Wanda

• Welcome State Bank Welcome

• Worthington Federal Savings Bank Worthington