Totals
- Total revenue
- $3,782,286
- Total expenses
- $4,025,177
- Contributions and grants received
- $0
- Grants paid
- $10,000
- Program service revenue
- $3,418,137
- Investment income
- $131,493
- Other revenue
- $232,656
- Total assets, end of year
- $8,013,518
- Total liabilities, end of year
- $526,336
- Net assets or fund balances, end of year
- $7,487,182
- Program services expenses (Part IX)
- not reported
- Management and general expenses
- not reported
- Fundraising expenses
- not reported
- Program service expenses (Part III)
- not reported
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
2a · Program service revenue: Membership Dues
total $1,968,876 · related or exempt $1,968,876
-
2b · Program service revenue: Registration Revenue
total $1,256,730 · related or exempt $1,256,730
-
2c · Program service revenue: Special Project Revenu
total $168,589 · related or exempt $168,589
-
2f · All other program service revenue
total $23,942 · related or exempt $23,942
-
3 · Investment income
total $149,278 · excluded $149,278
-
5 · Royalties
total $24,899 · excluded $24,899
-
6a · Gross rents
real property $325,359
-
6b · Less rental expenses
real property $117,602
-
6c · Rental income or loss
real property $207,757
-
6d · Net rental income or loss
total $207,757 · excluded $207,757
-
7a · Gross sales of assets other than inventory
securities $8,409
-
7b · Less cost or other basis and sales expenses
securities $0 · other assets $26,194
-
7c · Gain or loss
securities $8,409 · other assets -$26,194
-
7d · Net gain or loss
total -$17,785 · excluded -$17,785
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $10,000
-
5 · Compensation of officers, directors and key employees
total $836,665
-
7 · Other salaries and wages
total $1,016,104
-
8 · Pension plan contributions
total $71,140
-
9 · Other employee benefits
total $67,356
-
10 · Payroll taxes
total $111,289
-
11b · Fees: legal
total $300,109
-
11c · Fees: accounting
total $34,100
-
11g · Fees: other
total $77,626
-
12 · Advertising and promotion
total $7,563
-
13 · Office expenses
total $152,260
-
14 · Information technology
total $58,949
-
16 · Occupancy
total $275,048
-
17 · Travel
total $64,860
-
19 · Conferences, conventions and meetings
total $318,654
-
22 · Depreciation, depletion and amortization
total $96,678
-
23 · Insurance
total $29,470
-
24a · Other expenses: Food and Beverage
total $383,426
-
24b · Other expenses: Misc. Program Expenses
total $100,923
-
24c · Other expenses: Dues and Subscription
total $12,957
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $176,818 · end of year $147,843
-
2 · Savings and temporary cash investments
beginning of year $4,181,370 · end of year $3,992,266
-
4 · Accounts receivable
beginning of year $352,852 · end of year $235,717
-
9 · Prepaid expenses and deferred charges
beginning of year $125,359 · end of year $131,184
-
10a · Land, buildings and equipment: cost or other basis
$3,624,227
-
10b · Land, buildings and equipment: accumulated depreciation
$1,953,001
-
10c · Land, buildings and equipment, net
beginning of year $1,604,051 · end of year $1,671,226
-
11 · Investments: publicly traded securities
beginning of year $611,869 · end of year $509,409
-
13 · Investments: program-related
beginning of year $1,106,786 · end of year $1,325,873
-
17 · Accounts payable and accrued expenses
beginning of year $409,822 · end of year $298,277
-
19 · Deferred revenue
beginning of year $238,297 · end of year $228,059
-
27 · Net assets without donor restrictions
beginning of year $7,450,674 · end of year $7,426,870
-
28 · Net assets with donor restrictions
beginning of year $60,312 · end of year $60,312
Mission and programs · 2023
Mission
Our mission is to provide quality products and services to our members and to ensure that they receive excellent value for their membership.
Activities or mission (Part I)
MBA promotes the general welfare and best interests of Minnesota banks.
-
Through MBA's general and educational funds, the association provides a variety of services to its member banks located in Minnesota, including educational programs offered through its banking schools and a variety of supportin gproducts, materials, and assistance to its members. MBA's education programs assist bankers at all levels in developing professional and techincal skills, from entry level programs to bank management programs. Education programs are offered in a variety of formats from half-day to week-long intensive schools, classrooms, online and webinars. MBA offes programs in bank compliance, general banking, human resources, bank security, operations, agricultural lending, commercial lending, retail lending and marketing. MBA produces seven manuals on different subject matters in banking: safe deposit, record retention, deposit accounts procedures, real estate lending, consumer lending, commercial lending and agricultural lending. In addition, MBA produces an annual compensation survey. MBA promotes advocacy with the elected leaders through programs that facilitates meetings of bankers and elected federal and state leaders.
As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Joseph Witt
President/CEO
- Total calculated
- $509,865
- From this org
- $442,753
- From related orgs
- $0
- Other
- $67,112
- Hours/week
- 29.9 + 10.1 related
Schedule J breakdown matched by us
- Base
- $367,369
- Bonus
- $75,384
- Other
- $0
- Deferred
- $22,500
- Nontaxable benefits
- $44,612
- Filer's total
- $509,865
-
Doug Tate
Chair
- Total calculated
- $0
- Hours/week
- 3 + 1 related
-
Andy Schornack
Vice Chair/Treasurer
- Total calculated
- $0
- Hours/week
- 3 + 1 related
-
Rich Hoban
Immediate Past Chair
- Total calculated
- $0
- Hours/week
- 3 + 1 related
-
Ralph Pace
Director
- Total calculated
- $0
- Hours/week
- 3 + 1 related
-
Greg Evans
Director
- Total calculated
- $0
- Hours/week
- 3 + 1 related
-
John Ohlin
Director
- Total calculated
- $0
- Hours/week
- 3 + 1 related
-
Troy Rosenbrook
Director
- Total calculated
- $0
- Hours/week
- 3 + 1 related
-
Erin Procko
Director
- Total calculated
- $0
- Hours/week
- 3 + 1 related
-
Jim Boerjan
Director
- Total calculated
- $0
- Hours/week
- 3 + 1 related
-
Josh Johnson
Director
- Total calculated
- $0
- Hours/week
- 3 + 1 related
-
Brian Matzke
Director
- Total calculated
- $0
- Hours/week
- 3 + 1 related
-
Tess Rice
General Counsel
- Total calculated
- $274,902
- From this org
- $235,554
- From related orgs
- $0
- Other
- $39,348
- Hours/week
- 38 + 2 related
Schedule J breakdown matched by us
- Base
- $221,925
- Bonus
- $13,629
- Other
- $0
- Deferred
- $17,490
- Nontaxable benefits
- $21,959
- Filer's total
- $275,003
-
Jay Tamborino
IT Consultant
- Total calculated
- $240,753
- From this org
- $213,968
- From related orgs
- $0
- Other
- $26,785
- Hours/week
- 2 + 38 related
Schedule J breakdown matched by us
- Base
- $171,913
- Bonus
- $42,055
- Other
- $0
- Deferred
- $16,065
- Nontaxable benefits
- $10,821
- Filer's total
- $240,854
-
Diane Brower
HR Director
- Total calculated
- $169,099
- From this org
- $135,914
- From related orgs
- $0
- Other
- $33,185
- Hours/week
- 34.7 + 5.3 related
Schedule J breakdown matched by us
- Base
- $125,915
- Bonus
- $9,999
- Other
- $0
- Deferred
- $10,804
- Nontaxable benefits
- $22,481
- Filer's total
- $169,199
-
Carla Bush
Director of Education
- Total calculated
- $164,092
- From this org
- $152,194
- From related orgs
- $0
- Other
- $11,898
- Hours/week
- 39 + 1 related
Schedule J breakdown matched by us
- Base
- $141,885
- Bonus
- $10,309
- Other
- $0
- Deferred
- $11,400
- Nontaxable benefits
- $598
- Filer's total
- $164,192
-
Tom Boswell-Healey
Compliance Consultant
- Total calculated
- $151,149
- From this org
- $140,870
- From related orgs
- $0
- Other
- $10,279
- Hours/week
- 5.6 + 34.4 related
Schedule J breakdown matched by us
- Base
- $134,979
- Bonus
- $5,891
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $10,380
- Filer's total
- $151,250
-
Therese Kuvaas
Senior GR Manager
- Total calculated
- $148,761
- From this org
- $126,927
- From related orgs
- $0
- Other
- $21,834
- Hours/week
- 39 + 1 related
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 1a · Travel for companions
- 1b · Written policy on the line-1a expenses
- 2 · Substantiation required before reimbursing expenses
- 3 · Compensation committee
- 3 · Independent compensation consultant
- 3 · Compensation survey or study
- 3 · Approval by the board or compensation committee
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
The filer's explanations (Part III)
- Part I, Line 1a
- Travel for companions is provided to management and board members. This benefit is treated as taxable compensation to the person.
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
No itemized grants to organizations on this return.
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
-
Minnesota Bankers Association Employee Benefit Trust
501(c)(9) · Veba providing insurance benefits for members · MN · controlled entity
Directly controlled by Minnesota Bankers Association
Taxable family on this return
Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.
Disregarded entities
Part I: entities that legally are the filer and file no return of their own.
-
Bankers Building LLC
Leasing · MN · income $327,309 · assets $1,751,180
Directly controlled by Minnesota Bankers Association
Related partnerships
Part III: related organizations taxable as a partnership, with the filer's share.
-
Midwest Bankers Insurance Services LLC
N/A · Business Services · MN · 50% owned · share of income $191,999 · share of assets $1,356,321 · general or managing partner
Related corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
MBA Insurance Services Inc
C · Business Services · MN · 100% owned · share of income $1,062,788 · share of assets $1,465,758 · controlled entity
Directly controlled by Minnesota Bankers Association
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 4 April 2025
- IRS schema version
- 2023v6.0
- Source object
- 202531009349301253
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