Minnesota Bankers Association
Nonprofit profile at a glance
- EIN
- 411329720
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024
- Location
- Eden Prairie, MN, USA
- Phone
- 9528353900
- Rating confidence
- Limited
Reported finances
- Revenue
- $4,074,305
- Expenses
- $3,833,601
- Assets
- $8,575,557
- Liabilities
- $608,660
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
18 people listed
Executive titles in this filing
- Joseph Witt (President/CEO)
Highest reported compensation
- Joseph Witt (President/CEO): $536,658 total reported compensation
- Tess Rice (General Counsel): $280,802 total reported compensation
- Jay Tamborino (IT Consultant): $247,971 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Our mission is to provide quality products and services to our members and to ensure that they receive excellent value for their membership.
What it reported doing in 2024
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.
Operating model
- Revenue model
- Other-operating. 94% of the money available for current operations came from other operating revenue.
- Distribution model
- Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.
The verdict
- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.
Rating breakdown
- Financial Efficiency: NotEnoughData
- Transparency & Controls: 78
- Accountability: 86
- Sustainability: 52
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: Limited
- Program expense ratio: Limited
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 81.8%; rating input score 82; 0th percentile among comparable filings
- Pay-setting controls: 4 of 6 controls in place; rating input score 67
- Compensation committee: Pass
- Independent consultant: Pass
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: 83.3%; rating input score 83; 23rd percentile among comparable filings
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 91.7%; rating input score 92; 22nd percentile among comparable filings
- Governance controls: 7 of 9 controls in place; rating input score 78
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Fail
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 5.9%; rating input score 53; 53rd percentile among comparable filings
- Total-asset coverage ratio: 2.24; rating input score 65; 65th percentile among comparable filings
- Liabilities to assets ratio: 0.07; rating input score 65; 65th percentile among comparable filings
- Officer compensation ratio: 45.1%; rating input score 2; 2nd percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 1.6% per year; rating input score 100; 18th percentile among comparable filings
- Asset growth: 2% per year; rating input score 100; 19th percentile among comparable filings
Details
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Governance: 11 of 12 board members independent · 7 of 9 filing controls reported
- Programs: 1 filed program accomplishment
- Leadership: top reported pay $537K · 18 people listed · 4 of 6 pay-setting controls reported
- Consistency: 12 of 14 current checks pass · 2 findings to review
- Schedules: 6 filed schedules · includes grants and executive pay
- Filing history: 14 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 8 filed money-flow records
- Related organizations: 4 filed related-organization links
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
- Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- Review — Accountability: Governance controls: 2 of 9 not reported.
- Review — Sustainability: Operating margin scored 53/100.
- Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
- Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
- High — Sustainability: Officer compensation ratio scored 2/100.