Independent Community Bankers Of America
- Assets
- $291.4m
- Revenue
- $44.9m
- Investments
- $106.6m
- Employees
- 203
- Location
- Sauk Centre, MN
- Founding
- 05/1944
- Data as of
- 12/2023
- EIN
- 41-0327400
Organization Overview
Independent Community Bankers Of America is located in Sauk Centre, MN. The organization was established in 1944. According to its NTEE Classification (W03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2023, Independent Community Bankers Of America employed 203 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Independent Community Bankers Of America is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2023, Independent Community Bankers Of America generated $44.9m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 1.0% each year. All expenses for the organization totaled $52.1m during the year ending 12/2023. While expenses have increased by 3.0% per year over the past 9 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Independent Community Bankers Of America has awarded 35 individual grants totaling $1,238,168. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
CREATE AND PROMOTE AN ENVIRONMENT WHERE COMMUNITY BANKS FLOURISH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PUBLICATIONS-ICBA'S MANY PUBLICATIONS INFORM MEMBERS ABOUT THE TRENDS AND ISSUES AFFECTING THE COMMUNITY BANKING INDUSTRY, INCLUDING AWARD WINNING INDEPENDENT BANKER MAGAZINE AND ICBA NEWSWATCH TODAY. EDUCATION-ICBA PROVIDES COMMUNITY BANKERS WITH EDUCATION TO MEET THEIR TECHNOLOGY, OPERATIONS, AND COMPLIANCE NEEDS. ICBA OFFERS SUPERIOR SEMINARS, PRODUCTS, AND ONLINE TRAINING THAT BRINGS TOP INDUSTRY KNOWLEDGE TO MEMBERS. ALL COURSES ARE REVIEWED AND APPROVED BY A COMMITTEE OF COMMUNITY BANKERS BEFORE THEY BECOME AVAILABLE.CONTINUED ON SCHEDULE O. ICBA LIVE-ICBA'S ANNUAL CONVENTION IS THE LARGEST EDUCATIONAL GATHERING OF COMMUNITY BANKERS. THE EDUCATIONAL OPPORTUNITIES AT THIS NATIONAL EVENT KEEP BANKERS UP TO DATE ON THE LATEST TRENDS AND INNOVATIONS IMPACTING THEIR BANK.BANK DIRECTOR PROGRAM-ICBA'S BANK DIRECTOR PROGRAM OFFERS DIRECTORS ESSENTIAL INFORMATION, IN-DEPTH EDUCATIONAL PROGRAMS AND CONVENIENCE. OVER 5,000 PARTICIPANTS NETWORK WITH OTHER COMMUNITY BANK DIRECTORS FROM ACROSS THE COUNTRY TO KEEP "COMMUNITY" IN THEIR COMMUNITY BANKS.MARKETING RESOURCES-ICBA OFFERS MARKETING RESOURCE PROGRAMS DESIGNED TO HELP MEMBERS FIND COST-EFFECTIVE AND TIME-SAVING WAYS TO PROMOTE THEIR BANKS.CONSUMER EDUCATION AND RESOURCES-ICBA HAS FORMED ALLIANCES WITH VARIOUS ORGANIZATIONS TO PROVIDE EDUCATION AND RESOURCES FOR MEMBERS AND THEIR COMMUNITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rebeca Romero Rainey President/ceo | OfficerTrustee | 40 | $1,926,267 |
Brad Bolton Immediate Past Chairman | OfficerTrustee | 1 | $25,631 |
Robert Fisher Past Chairman | Trustee | 1 | $17,591 |
Lucas White Chairman-Elect | Trustee | 1 | $31,802 |
Derek Williams Chairman | OfficerTrustee | 1 | $30,253 |
Preston Kennedy Past Chairman Until March 2023 | Trustee | 1 | $13,876 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Hilton Hawaiian Village Waikki Beach Res Hotel/event Space | 12/30/23 | $1,401,521 |
Tilt Creative Production Llc Marketing/rebranding Consulting | 12/30/23 | $1,016,473 |
Tr Rupli & Associates Inc Government Relations Consulting | 12/30/23 | $849,920 |
Mni Targeted Media Inc Marketing/media Consulting | 12/30/23 | $881,440 |
Park Hyatt Aviara Resort Hotel/event Space | 12/30/23 | $602,270 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $32,803,719 |
| Investment income | $3,847,042 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $11,060,561 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$3,505,802 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $44,907,972 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $303,436 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $6,394,388 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $264,869 |
| Other salaries and wages | $15,172,745 |
| Pension plan accruals and contributions | $909,142 |
| Other employee benefits | $2,577,127 |
| Payroll taxes | $1,499,393 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $431,072 |
| Fees for services: Accounting | $89,920 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $304,305 |
| Fees for services: Other | $7,858,885 |
| Advertising and promotion | $2,150,984 |
| Office expenses | $771,120 |
| Information technology | $990,136 |
| Royalties | $0 |
| Occupancy | $1,156,728 |
| Travel | $2,770,670 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,866,914 |
| Interest | $230,858 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $316,928 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $52,062,910 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,371,565 |
| Savings and temporary cash investments | $15,418,574 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $11,186,068 |
| Loans from Officers, Directors, or Controlling Persons | $11,176,488 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $3,496,890 |
| Net Land, buildings, and equipment | $1,378,836 |
| Investments—publicly traded securities | $130,174,436 |
| Investments—other securities | $106,624,836 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,571,303 |
| Total assets | $291,398,996 |
| Accounts payable and accrued expenses | $4,855,143 |
| Grants payable | $0 |
| Deferred revenue | $20,700,705 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $863,590 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $7,781,008 |
| Total liabilities | $34,200,446 |
| Net assets without donor restrictions | $257,198,550 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $291,398,996 |
Grants Awarded
Over the last fiscal year, Independent Community Bankers Of America has awarded $144,551 in support to 10 organizations.
| Grant Recipient | Amount |
|---|---|
TECHNOLOGY ASSOCIATION OF GEORGIA INC PURPOSE: THIS ORGANIZATION SUPPORTS BUSINESSES THAT DEVELOP PRODUCTS AND TECHNOLOGIES THAT FURTHER THE MISSION OF ICBA AND ITS SUPPORT OF COMMUNITY BANKS. | $5,312 |
HEART OF THE DELTA FOUNDATION PURPOSE: CHARITABLE DONATION TO SUPPORT COMMUNITY BANKERS AFFECTED BY TORNADO. | $10,000 |
COMMUNITY BANKERS ASSOCIATION OF GEORGIA PURPOSE: TO SUPPORT AN ASSOCIATION WHOSE PURPOSE IS TO SUPPORT COMMUNITY BANKS IN GEORGIA. | $20,000 |
VIRGINIA ASSOCIATION OF COMMUNITY BANKS PURPOSE: TO SUPPORT AN ASSOCIATION WHOSE PURPOSE IS TO SUPPORT COMMUNITY BANKS IN VIRGINIA. | $50,000 |
COMMUNITY BANKERS ASSOCIATION OF ILLINOIS PURPOSE: TO SUPPORT AN ASSOCIATION WHOSE PURPOSE IS TO SUPPORT COMMUNITY BANKS IN ILLINOIS. | $6,000 |
HAWAII BANKERS ASSOCIATION PURPOSE: CHARITABLE DONATION TO SUPPORT COMMUNITY BANKERS AFFECTED BY MAUI WILDFIRES. | $17,885 |