Minnesota Bankers Association

Organization Overview

Minnesota Bankers Association is located in Eden Prairie, MN. The organization was established in 1979. 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 06/2022, Minnesota Bankers Association employed 24 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Minnesota Bankers Association 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 06/2022, Minnesota Bankers Association generated $3.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.2% each year. All expenses for the organization totaled $3.5m during the year ending 06/2022. While expenses have increased by 2.7% per year over the past 7 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

THE MINNESOTA BANKERS ASSOCIATION PROMOTES THE GENERAL WELFARE AND BEST INTERESTS OF BANKS AND BANKERS IN MINNESOTA THROUGH ADVOCACY, EDUCATION, REGULATORY COMPLIANCE GUIDANCE, GROUP INSURANCE, AND COMMUNICATION ACTIVITIES.

Describe the Organization's Program Activity:

Part 3 - Line 4a

MBA'S EDUCATION PROGRAMS ASSIST BANKERS AT ALL LEVELS IN DEVELOPING PROFESSIONAL AND TECHNICAL 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, CLASSROOM, ONLINE, AND WEBINARS. WE OFFER 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, RECORDS 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 ELECTED LEADERS THROUGH PROGRAMS THAT FACILITATE MEETINGS OF BANKERS AND ELECTED FEDERAL AND STATE LEADERS.


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Board, Officers & Key Employees

Name (title)Compensation
Joseph Witt
President/ceo
$389,405
Tess Rice
General Counsel
$215,954
Jay Tamborino
It Consultant
$169,255
Carla Bush
Director Of Education
$136,555
Tom Boswell-Healey
Compliance Consultant
$125,796
Diane Brower
Hr Director
$117,048

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$3,267,012
Investment income $46,034
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $85,013
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $3,421,584

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