Independent Community Bankers Of Minnesota
- Assets
- $2.1m
- Revenue
- $1.9m
- Investments
- $676.2k
- Employees
- 12
- Location
- Bloomington, MN
- Founding
- 03/1963
- Data as of
- 12/2023
- EIN
- 41-6037469
Organization Overview
Independent Community Bankers Of Minnesota, operating under the name BankIn Minnesota, is located in Bloomington, MN. The organization was established in 1963. According to its NTEE Classification (W01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2023, BankIn Minnesota employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. BankIn Minnesota 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, BankIn Minnesota generated $1.9m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 3.0% each year. All expenses for the organization totaled $1.9m during the year ending 12/2023. While expenses have increased by 3.4% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTES AND EDUCATES COMMUNITY BANK MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONVENTION - THE CONVENTION PROVIDES AN OPPORTUNITY TO PROVIDE EDUCATIONAL NETWORKING OPPORTUNITIES FOR OUR MEMBERS. IT IS ALSO THE ANNUAL MEETING OF MEMBERSHIP.
ADVOCACY - ICBM IS THE ONLY BANKING ASSOCIATION IN THE STATE THAT OFFERS EXCLUSIVE STATE CAPITAL REPRESENTATION FOR INDEPENDENT COMMUNITY BANKING.ICBM'S GOVERNMENT RELATIONS DEPARTMENT STAYS ABREAST OF THE MOST RECENT STATE AND FEDERAL LEGISLATION AFFECTING MINNESOTA'S INDEPENDENT COMMUNITY BANKERS. ICBM TAKES AN ACTIVE ROLE IN LOBBYING ON BEHALF OF OUR MEMBERS AT THE STATE AND NATIONAL LEVEL. ICBM ORGANIZES OPPORTUNITIES FOR OUR MEMBERS TO BE IN DIRECT CONTACT WITH MEMBERS OF CONGRESS THROUGH SPECIAL MEETINGS AND EVENTS LIKE ICBM'S ANNUAL DAY AT THE CAPITOL.
EDUCATION - ICBM PROVIDES EDUCATION FOR OUR MEMBERS USING MULTIPLE DELIVERY CHANNELS INCLUDING FACE TO FACE, WEB ENABLED, AND SELF-PACED AND INSTRUCTOR LED ONLINE. WE SERVED OVER 4,000 BANKERS WITH OVER 150 EDUCATION OFFERINGS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Amundson President/ceo | Officer | 48 | $219,321 |
Kevin Christians Executive VP Icbm Insurance/cbfs | 0 | $0 | |
Curt Smallbrock VP Icbm Insurance/cbfs | 0 | $0 | |
Nicki Wareham VP Dir. Of Operations | 48 | $101,381 | |
Peter Nelson Chair Elect/chair | OfficerTrustee | 2 | $0 |
Mark Toombs Chair/past Chair | OfficerTrustee | 2 | $0 |
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 | $1,690,342 |
| Investment income | $2,595 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $125,764 |
| Net Rental Income | $0 |
| 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 | $1,918,103 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $244,047 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $326,155 |
| Pension plan accruals and contributions | $17,554 |
| Other employee benefits | $34,984 |
| Payroll taxes | $54,777 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $86,068 |
| Fees for services: Lobbying | $50,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $119,003 |
| Advertising and promotion | $49,677 |
| Office expenses | $83,942 |
| Information technology | $90,169 |
| Royalties | $0 |
| Occupancy | $105,134 |
| Travel | $23,027 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $544,392 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $23,923 |
| Insurance | $0 |
| All other expenses | $1,385 |
| Total functional expenses | $1,869,379 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $749,666 |
| Savings and temporary cash investments | $338,986 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $135,909 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $25,793 |
| Net Land, buildings, and equipment | $42,339 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $676,178 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $141,306 |
| Total assets | $2,110,177 |
| Accounts payable and accrued expenses | $29,976 |
| Grants payable | $0 |
| Deferred revenue | $93,995 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| 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 | $0 |
| Total liabilities | $123,971 |
| Net assets without donor restrictions | $1,986,206 |
| 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 | $2,110,177 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Star Choice Credit Union Bloomington, MN | $0 | $660,286 |
Iowa Bankers Association Johnston, IA | $15,760,422 | $3,115,872 |
Independent Community Bankers Of Minnesota Bloomington, MN | $2,110,177 | $1,918,103 |
North Dakota League Of Cities Bismarck, ND | $1,120,923 | $858,699 |
Textbook & Academic Authors Association Inc Cochrane, WI | $2,788,649 | $639,521 |
The Landing Mn Inc Rochester, MN | $2,851,350 | $1,251,891 |
Iowans For Tax Releif West Des Moines, IA | $8,555,101 | $215,967 |
Change The Outcome Chanhassen, MN | $339,101 | $633,270 |
Thumbs Up High 5k Elk River, MN | $331,529 | $464,144 |
Revitalizemn Saint Paul, MN | $20,420 | $0 |
Empty Bowls Cook County Grand Marais, MN | $58,862 | $58,653 |
Irg Action Fund Inc Delafield, WI | $174,615 | $203,009 |
North Star Liberty Alliance Savage, MN | $57,622 | $0 |
Naturist Action Committee Inc Oshkosh, WI | $85,313 | $0 |
Milwaukee Works Inc Milwaukee, WI | $32,680 | $0 |
Iowans For Progress & Prosperity Lake Mills, IA | $593 | $0 |