Minnesota Bankers Association (EIN 411329720) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1889

Legal Domicile

Principal Officer

Joseph Witt

Phone

9528353900

Tax Period

2024-07-01 to 2025-06-30

Minnesota Bankers Association, founded in 1889, is a community nonprofit that reported $4.1M in total revenue in fiscal year 2024. Expenses of $3.8M left a modest 6% surplus.

Mission

MBA promotes the general welfare and best interests of Minnesota banks.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $3,639,776

Investment Income $216,981

Other Revenue $217,548

TOTAL REVENUE $4,074,305

Expense Breakdown

Grants Paid $60,000

Salaries & Benefits $2,052,782

Fundraising Expenses $0

Other Expenses $1,720,819

TOTAL EXPENSES $3,833,601

Year-over-Year Comparison

	2024	2023	Change
Revenue	$4,074,305	$3,782,286	+0.1%
Expenses	$3,833,601	$4,025,177	0.0%
Net Income	$240,704	$-242,891	-2.0%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

500

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$536,658

Total Directors

$536,658

Key Employees

$280,802

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Joseph Witt	President/CEO	29.90	Officer Director	$463,345	$73,313	$536,658
Andy Schormack	Chair	3.00	Officer Director	$0	$0	$0
Chris Ryan	Vice Chair/Treasurer	3.00	Officer Director	$0	$0	$0
Doug Tate	Immediate Past Chair	3.00	Officer Director	$0	$0	$0
Kevin Valois	Director	3.00	Director	$0	$0	$0
Greg Evans	Director	3.00	Director	$0	$0	$0
John Ohlin	Director	3.00	Director	$0	$0	$0
Katie Wahlquist	Director	3.00	Director	$0	$0	$0
Anna Dosen	Director	3.00	Director	$0	$0	$0
Jim Boerjan	Director	3.00	Director	$0	$0	$0
Josh Johnson	Director	3.00	Director	$0	$0	$0
Brian Matzke	Director	3.00	Director	$0	$0	$0
Tess Rice	General Counsel	38.00	Key Emp	$243,597	$37,205	$280,802
Jay Tamborino	IT Consultant	2.00	Highest	$217,817	$30,154	$247,971
Diane Brower	HR Director	34.70	Highest	$146,711	$32,613	$179,324
Carla Bush	Director of Education	39.00	Highest	$160,973	$9,608	$170,581
Tom Boswell-Healey	Compliance Consultant	5.60	Highest	$145,201	$13,239	$158,440
Therese Kuvaas	Senior GR Manager	39.00	Highest	$130,365	$25,469	$155,834

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$4,074,305	$3,833,601	$8,575,557	$240,704
2024	$3,782,286	$4,025,177	$8,013,518	$-242,891
2023	$3,555,499	$3,764,445	$8,159,105	$-208,946
2022	$3,421,584	$3,504,389	$8,043,309	$-82,805
2021	$2,926,312	$3,039,280	$8,242,900	$-112,968
2020	$3,108,826	$2,917,408	$7,771,410	$191,418
2019	$3,272,156	$3,276,374	$7,452,348	$-4,218

Minnesota Bankers Association