Nonprofit · EIN 41-1329720
MINNESOTA BANKERS ASSOCIATION
Tax-exempt · EDEN PRAIRIE, MN 55344
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $4,074,305 | $3,833,601 | $240,704 | $8,575,557 | $608,660 | $7,966,897 |
| June 30, 2024 | 990 | $3,782,286 | $4,025,177 | -$242,891 | $8,013,518 | $526,336 | $7,487,182 |
| June 30, 2023 | 990 | $3,555,499 | $3,764,445 | -$208,946 | $8,159,105 | $648,119 | $7,510,986 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $3,639,776
- Investment income
- $216,981
- Royalties
- $18,911
- Net rental income
- $198,637
- Net gain from sales of assets
- $24,836
- Other revenue
- $217,548
Expenses
- Grants and similar amounts paid
- $60,000
- Compensation of officers, directors and key employees
- $829,378
- Other salaries and wages
- $918,017
- Salaries, compensation and benefits (total)
- $2,052,782
- Professional fundraising fees
- $0
- Legal fees
- $90,259
- Accounting fees
- $33,885
- Occupancy
- $278,719
- Travel
- $71,502
- Depreciation
- $92,803
Balance sheet and other
- Total assets, start of year
- $8,013,518
- Total assets, end of year
- $8,575,557
- Total liabilities, end of year
- $608,660
- Net assets, end of year
- $7,966,897
- Land, buildings and equipment
- $1,640,273
- Publicly traded securities
- $429,191
- Net assets without donor restrictions
- $7,906,585
- Net assets with donor restrictions
- $60,312
- Gross receipts
- $4,201,290
- Employees
- 23
- Volunteers
- 500
- Year formed
- 1889
- State of legal domicile
- MN
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Joseph Witt | President/CEO Trustee or director, Officer | 29.9 | $463,345 | $73,313 |
| Tess Rice | General Counsel Key employee | 38 | $243,597 | $37,205 |
| Jay Tamborino | IT Consultant Highest-paid employee | 2 | $217,817 | $30,154 |
| Diane Brower | HR Director Highest-paid employee | 34.7 | $146,711 | $32,613 |
| Carla Bush | Director of Education Highest-paid employee | 39 | $160,973 | $9,608 |
| Tom Boswell-Healey | Compliance Consultant Highest-paid employee | 5.6 | $145,201 | $13,239 |
| Therese Kuvaas | Senior GR Manager Highest-paid employee | 39 | $130,365 | $25,469 |
| Andy Schormack | Chair Trustee or director, Officer | 3 | $0 | $0 |
| Chris Ryan | Vice Chair/Treasurer Trustee or director, Officer | 3 | $0 | $0 |
| Doug Tate | Immediate Past Chair Trustee or director, Officer | 3 | $0 | $0 |
| Kevin Valois | Director Trustee or director | 3 | $0 | $0 |
| Greg Evans | Director Trustee or director | 3 | $0 | $0 |
| John Ohlin | Director Trustee or director | 3 | $0 | $0 |
| Katie Wahlquist | Director Trustee or director | 3 | $0 | $0 |
| Anna Dosen | Director Trustee or director | 3 | $0 | $0 |
3 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Jim Boerjan | Director Trustee or director | 3 | $0 |
| Josh Johnson | Director Trustee or director | 3 | $0 |
| Brian Matzke | Director Trustee or director | 3 | $0 |
990 for the year ended June 30, 2024: 18 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Joseph Witt | President/CEO Trustee or director, Officer | 29.9 | $442,753 | $67,112 |
| Tess Rice | General Counsel Key employee | 38 | $235,554 | $39,348 |
| Jay Tamborino | IT Consultant Highest-paid employee | 2 | $213,968 | $26,785 |
| Diane Brower | HR Director Highest-paid employee | 34.7 | $135,914 | $33,185 |
| Carla Bush | Director of Education Highest-paid employee | 39 | $152,194 | $11,898 |
| Tom Boswell-Healey | Compliance Consultant Highest-paid employee | 5.6 | $140,870 | $10,279 |
| Therese Kuvaas | Senior GR Manager Highest-paid employee | 39 | $126,927 | $21,834 |
| Doug Tate | Chair Trustee or director, Officer | 3 | $0 | $0 |
| Andy Schornack | Vice Chair/Treasurer Trustee or director, Officer | 3 | $0 | $0 |
| Rich Hoban | Immediate Past Chair Trustee or director, Officer | 3 | $0 | $0 |
| Ralph Pace | Director Trustee or director | 3 | $0 | $0 |
| Greg Evans | Director Trustee or director | 3 | $0 | $0 |
| John Ohlin | Director Trustee or director | 3 | $0 | $0 |
| Troy Rosenbrook | Director Trustee or director | 3 | $0 | $0 |
| Erin Procko | Director Trustee or director | 3 | $0 | $0 |
| Jim Boerjan | Director Trustee or director | 3 | $0 | $0 |
| Josh Johnson | Director Trustee or director | 3 | $0 | $0 |
| Brian Matzke | Director Trustee or director | 3 | $0 | $0 |
990 for the year ended June 30, 2023: 17 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Joseph Witt | President/CEO Trustee or director, Officer | 29.9 | $418,552 | $64,322 |
| Tess Rice | General Counsel Key employee | 38 | $225,109 | $40,606 |
| Jay Tamborino | IT Consultant Highest-paid employee | 2 | $221,040 | $27,330 |
| Diane Brower | HR Director Highest-paid employee | 34.7 | $130,585 | $30,788 |
| Carla Bush | Director of Education Highest-paid employee | 39 | $145,075 | $10,512 |
| Tom Boswell-Healey | Compliance Consultant Highest-paid employee | 5.6 | $130,623 | $10,279 |
| Kenneth Johnson | Immediate Past Chair Trustee or director, Officer | 3 | $0 | $0 |
| Doug Tate | Vice Chair/Treasurer Trustee or director, Officer | 3 | $0 | $0 |
| Rich Hoban | Chair Trustee or director, Officer | 3 | $0 | $0 |
| Ralph Pace | Director Trustee or director | 3 | $0 | $0 |
| Adam Dittrich | Director Trustee or director | 3 | $0 | $0 |
| Greg Evans | Director Trustee or director | 3 | $0 | $0 |
| John Ohlin | Director Trustee or director | 3 | $0 | $0 |
| Troy Rosenbrook | Director Trustee or director | 3 | $0 | $0 |
| Erin Procko | Director Trustee or director | 3 | $0 | $0 |
| Jim Boerjan | Director Trustee or director | 3 | $0 | $0 |
| Susan Black | Director Trustee or director | 3 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 8050 WASHINGTON AVENUE, EDEN PRAIRIE, MN 55344-4554
- Principal officer (990 for 2024)
- Joseph Witt, 8050 Washington Ave S Suite 150, Eden Prairie, MN 55344
- Signed the 990
- Joseph Witt, President
- Phone
- (952) 835-3900
- Website
- www.minnbankers.com
- Return prepared by
- Eide Bailly LLP
Mission
Our mission is to provide quality products and services to our members and to ensure that they receive excellent value for their membership.
Program accomplishments
- 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.
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 41-1329720
- Tax-exempt status
- 501(c)(6): Business league or chamber of commerce
- Donations deductible
- No
- Exempt since
- 1979
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $8,575,557
- Income (IRS master file)
- $4,201,290
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $4,074,305 | $3,833,601 | $8,575,557 | XML |
| 990 | June 2024 | $3,782,286 | $4,025,177 | $8,013,518 | XML |
| 990 | June 2023 | $3,555,499 | $3,764,445 | $8,159,105 | XML |
| 990 | June 2022 | – | – | – | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 2019 | – | – | – | IRS |
| 990 | June 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 41-1329720).
Questions about MINNESOTA BANKERS ASSOCIATION
- What is the EIN of MINNESOTA BANKERS ASSOCIATION?
- The employer identification number (EIN) of MINNESOTA BANKERS ASSOCIATION is 41-1329720.
- Is MINNESOTA BANKERS ASSOCIATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(6) since 1979.
- Are donations to MINNESOTA BANKERS ASSOCIATION tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does MINNESOTA BANKERS ASSOCIATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of MINNESOTA BANKERS ASSOCIATION due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did MINNESOTA BANKERS ASSOCIATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of MINNESOTA BANKERS ASSOCIATION?
- The 990 for the year ended June 30, 2025 names Joseph Witt.
- Who are the officers and directors of MINNESOTA BANKERS ASSOCIATION?
- The 990 for the year ended June 30, 2025 lists 18 people; 7 received compensation from the organization, the highest $463,345 (Joseph Witt, President/CEO).
- How much revenue does MINNESOTA BANKERS ASSOCIATION have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $4,074,305, expenses of $3,833,601 and total assets of $8,575,557 at year end.
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