Nonprofit · EIN 41-6037469
INDEPENDENT COMMUNITY BANKERS OF MINNESOTA
Tax-exempt · BLOOMINGTON, MN 55425
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $1,847,968 | $1,830,255 | $17,713 | $2,337,219 | $154,598 | $2,182,621 |
| December 31, 2024 | 990 | $2,128,706 | $1,950,003 | $178,703 | $2,368,615 | $203,706 | $2,164,909 |
| December 31, 2023 | 990 | $1,918,103 | $1,869,379 | $48,724 | $2,110,177 | $123,971 | $1,986,206 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $4,976
- Program service revenue
- $1,661,063
- Investment income
- $38,698
- Royalties
- $143,231
- Other revenue
- $143,231
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $256,813
- Other salaries and wages
- $352,497
- Salaries, compensation and benefits (total)
- $731,481
- Professional fundraising fees
- $0
- Accounting fees
- $76,600
- Occupancy
- $101,540
- Travel
- $18,869
- Depreciation
- $23,459
Balance sheet and other
- Total assets, start of year
- $2,368,615
- Total assets, end of year
- $2,337,219
- Total liabilities, end of year
- $154,598
- Net assets, end of year
- $2,182,621
- Land, buildings and equipment
- $6,201
- Net assets without donor restrictions
- $2,182,621
- Gross receipts
- $1,847,968
- Employees
- 13
- Volunteers
- 50
- Year formed
- 1962
- 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 December 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| Kevin Christians | Executive VP CBFS Highest-paid employee | 0 | $0 | $156,925 | $6,841 |
| Curt Smallbrock | VP CBFS Highest-paid employee | 0 | $0 | $137,486 | $5,499 |
| Jim Amundson | President & CEO (thru July) Officer | 48 | $127,732 | $0 | $14,767 |
| Patricia Coles | SVP Dir. of Member Engagement Highest-paid employee | 48 | $107,834 | $0 | $18,726 |
| Nicki Wareham | SVP Director of Operations Highest-paid employee | 48 | $102,993 | $0 | $20,884 |
| Karina Wiatros | VP Dir. of Marketing & Communications Highest-paid employee | 48 | $105,624 | $0 | $14,947 |
| Greg RaymoChair ElectChair | Interim Pres. & CEO (July-Oct) Trustee or director, Officer | 48 | $57,190 | $0 | $0 |
| Richard JonesTreasVice Chair | President & CEO (as of Oct) Trustee or director, Officer | 48 | $57,030 | $0 | $0 |
| Tiffany Baer Paine | Chair/Past Chair Trustee or director, Officer | 2 | $0 | $0 | $0 |
| Bill LaVigne | Vice Chair/Chair Elect Trustee or director, Officer | 2 | $0 | $0 | $0 |
| Mike Bresnahan | Treasurer/Vice Chair Trustee or director, Officer | 2 | $0 | $0 | $0 |
| Randy Dorn | Treasurer/Director Trustee or director, Officer | 2 | $0 | $0 | $0 |
| Gary Timm | Director Trustee or director | 2 | $0 | $0 | $0 |
| Jacob Jenniges | Director Trustee or director | 2 | $0 | $0 | $0 |
| Michael Bilski | Director Trustee or director | 2 | $0 | $0 | $0 |
9 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Anita Drentlaw | Director Trustee or director | 2 | $0 |
| Mark Finstad | Director Trustee or director | 2 | $0 |
| Noah Wilcox | Director Trustee or director | 2 | $0 |
| Bernie Gaytko | Director Trustee or director | 2 | $0 |
| Terri Barrett | Director Trustee or director | 2 | $0 |
| Jerry Reiter | Director Trustee or director | 2 | $0 |
| Chad Forkrud | Director Trustee or director | 2 | $0 |
| McKinzie Hopkins | Director Trustee or director | 2 | $0 |
| Jason Winters | Director (as of Aug) Trustee or director | 2 | $0 |
990 for the year ended December 31, 2024: 24 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| James Amundson | President/CEO Officer | 48 | $316,320 | $0 | $45,056 |
| Kevin Christians | Executive VP CBFS Highest-paid employee | 0 | $0 | $160,529 | $6,975 |
| Curt Smallbrock | VP CBFS Highest-paid employee | 0 | $0 | $124,190 | $16,685 |
| Patricia Coles | SVP Dir. of Member Engagement Highest-paid employee | 48 | $101,808 | $0 | $30,859 |
| Karina Wiatros | VP Dir. of Marketing & Communications Highest-paid employee | 0 | $100,068 | $0 | $9,400 |
| Tiffany Baer Paine | Chair Elect/Chair Trustee or director, Officer | 2 | $0 | $0 | $0 |
| Peter Nelson | Chair/Past Chair Trustee or director, Officer | 2 | $0 | $0 | $0 |
| Mark Toombs | Past Chair (To 8/2024) Trustee or director, Officer | 2 | $0 | $0 | $0 |
| Greg Raymo | Vice Chair/Chair Elect Trustee or director, Officer | 2 | $0 | $0 | $0 |
| Bill LaVinge | Treasurer/Vice Chair Trustee or director, Officer | 2 | $0 | $0 | $0 |
| Richard Jones | Director/Treasurer Trustee or director, Officer | 2 | $0 | $0 | $0 |
| Gary Timm | Director Trustee or director | 2 | $0 | $0 | $0 |
| Mike Bresnahan | Director Trustee or director | 2 | $0 | $0 | $0 |
| Jacob Jenniges | Director Trustee or director | 2 | $0 | $0 | $0 |
| Michael Bilski | Director Trustee or director | 2 | $0 | $0 | $0 |
| Anita Drentlaw | Director Trustee or director | 2 | $0 | $0 | $0 |
| Randy Dorn | Director Trustee or director | 2 | $0 | $0 | $0 |
| Mark Finstad | Director Trustee or director | 2 | $0 | $0 | $0 |
| Noah Wilcox | Director Trustee or director | 2 | $0 | $0 | $0 |
| Bernie Gaytko | Director Trustee or director | 2 | $0 | $0 | $0 |
| Terri Barrett | Director Trustee or director | 2 | $0 | $0 | $0 |
| McKinzie Hopkins | Director Trustee or director | 2 | $0 | $0 | $0 |
| Jerry Reiter | Director Trustee or director | 2 | $0 | $0 | $0 |
| Chad Forkrud | Director Trustee or director | 2 | $0 | $0 | $0 |
990 for the year ended December 31, 2023: 20 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| James Amundson | President/CEO Officer | 48 | $219,321 | $0 | $40,337 |
| Kevin Christians | Executive VP ICBM Insurance/CBFS Highest-paid employee | 0 | $0 | $136,945 | $6,004 |
| Curt Smallbrock | VP ICBM Insurance/CBFS Highest-paid employee | 0 | $0 | $115,540 | $4,622 |
| Nicki Wareham | VP Dir. of Operations Highest-paid employee | 48 | $101,381 | $0 | $18,033 |
| Peter Nelson | Chair Elect/Chair Trustee or director, Officer | 2 | $0 | $0 | $0 |
| Mark Toombs | Chair/Past Chair Trustee or director, Officer | 2 | $0 | $0 | $0 |
| Anita Vogel-Drantlaw | Past Chair (To 6/30/23) Trustee or director, Officer | 2 | $0 | $0 | $0 |
| Tiffany Baer Paine | Vice Chair/Chair Elect Trustee or director, Officer | 2 | $0 | $0 | $0 |
| Greg Raymo | Treasurer/Vice Chair Trustee or director, Officer | 2 | $0 | $0 | $0 |
| Bill LaVinge | Director/Treasurer Trustee or director, Officer | 2 | $0 | $0 | $0 |
| Gary Timm | Director Trustee or director | 2 | $0 | $0 | $0 |
| Mike Bresnahan | Director Trustee or director | 2 | $0 | $0 | $0 |
| Jacob Jenniges | Director Trustee or director | 2 | $0 | $0 | $0 |
| Michael Bilski | Director Trustee or director | 2 | $0 | $0 | $0 |
| Harry Wahlquist | Director Trustee or director | 2 | $0 | $0 | $0 |
| Randy Dorn | Director Trustee or director | 2 | $0 | $0 | $0 |
| Mark Finstad | Director Trustee or director | 2 | $0 | $0 | $0 |
| Noah Wilcox | Director Trustee or director | 2 | $0 | $0 | $0 |
| Richard Jones | Director Trustee or director | 2 | $0 | $0 | $0 |
| Bernie Gaytko | Director Trustee or director | 2 | $0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 7900 INTERNATIONAL DR STE 685, BLOOMINGTON, MN 55425-2456
- Principal officer (990 for 2025)
- Richard Jones, 7900 International Dr Ste 685, Bloomington, MN 55425
- Signed the 990
- Richard Jones, President & CEO
- Phone
- (651) 789-3981
- Website
- www.minnesota.bank
- Return prepared by
- Eide Bailly LLP
Mission
To provide members with the resources and advocacy they need to remain independent, effectively compete in the financial industry, grow their banks, and positively impact the economy in their local communities.
Program accomplishments
- Convention - The convention provides educational and networking opportunities for members and serves as the organization's annual membership meeting. The convention was held in 2025 and is scheduled to be held again in 2026.
- Advocacy - ICBM is the only banking association in the state that provides exclusive statelevel representation for Minnesota's independent community banks. Through its government relations department, ICBM closely monitors state and federal legislation impacting independent community bankers. The organization takes an active role in advocacy and lobbying efforts at both the state and national levels. In addition, ICBM facilitates direct engagement between members and legislators through meetings and events, including ICBM's annual Day at the Capitol.
- Education ICBM delivers education to members through a variety of formats, including inperson, virtual, instructorled, and selfpaced online programs. ICBM served more than 4,000 bankers through over 150 educational offerings.
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 December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | 990 on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 41-6037469
- Tax-exempt status
- 501(c)(6): Business league or chamber of commerce
- Donations deductible
- No
- Exempt since
- 1963
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $2,337,219
- Income (IRS master file)
- $1,847,968
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $1,847,968 | $1,830,255 | $2,337,219 | IRS |
| 990 | December 2024 | $2,128,706 | $1,950,003 | $2,368,615 | IRS |
| 990 | December 2023 | $1,918,103 | $1,869,379 | $2,110,177 | XML |
| 990 | December 2022 | $1,923,476 | $1,840,082 | $2,066,253 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 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 41-6037469).
Questions about INDEPENDENT COMMUNITY BANKERS OF MINNESOTA
- What is the EIN of INDEPENDENT COMMUNITY BANKERS OF MINNESOTA?
- The employer identification number (EIN) of INDEPENDENT COMMUNITY BANKERS OF MINNESOTA is 41-6037469.
- Is INDEPENDENT COMMUNITY BANKERS OF MINNESOTA tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(6) since 1963.
- Are donations to INDEPENDENT COMMUNITY BANKERS OF MINNESOTA tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does INDEPENDENT COMMUNITY BANKERS OF MINNESOTA 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 INDEPENDENT COMMUNITY BANKERS OF MINNESOTA due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did INDEPENDENT COMMUNITY BANKERS OF MINNESOTA last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2025.
- Who is the principal officer of INDEPENDENT COMMUNITY BANKERS OF MINNESOTA?
- The 990 for the year ended December 31, 2025 names Richard Jones.
- Who are the officers and directors of INDEPENDENT COMMUNITY BANKERS OF MINNESOTA?
- The 990 for the year ended December 31, 2025 lists 24 people; 6 received compensation from the organization.
- How much revenue does INDEPENDENT COMMUNITY BANKERS OF MINNESOTA have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $1,847,968, expenses of $1,830,255 and total assets of $2,337,219 at year end.
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