Independent Community Bankers of M… - Form 990 Financial Data

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

1962

Legal Domicile

Principal Officer

James Amundson

Phone

6517893981

Tax Period

2023-01-01 to 2023-12-31

Independent Community Bankers of Minnesota, founded in 1962, is a community nonprofit that reported $1.9M in total revenue in fiscal year 2023.

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 Service Accomplishments

Program 1

Convention - The convention provides an opportunity to provide educational networking opportunities for our members. It is also the annual meeting of membership.

Program 2

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.

Program 3

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...

🔒

Trantor Score

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

Sign in to view Trantor Score and financial metrics

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

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $1,690,342

Investment Income $2,595

Other Revenue $225,166

TOTAL REVENUE $1,918,103

Expense Breakdown

Grants Paid $0

Salaries & Benefits $677,517

Fundraising Expenses $0

Other Expenses $1,191,862

TOTAL EXPENSES $1,869,379

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,918,103	$1,923,476	0.0%
Expenses	$1,869,379	$1,840,082	+0.0%
Net Income	$48,724	$83,394	-0.4%

Key Indicators

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

🔒

Financial Health Indicators

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

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

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

Governance

Voting Members

Independent Members

Employees

Volunteers

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

$259,658

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
James Amundson	President/CEO	48.00	Officer	$219,321	$40,337	$259,658
Kevin Christians	Executive VP ICBM Insurance/CBFS	0.00	Highest	$0	$6,004	$142,949
Curt Smallbrock	VP ICBM Insurance/CBFS	0.00	Highest	$0	$4,622	$120,162
Nicki Wareham	VP Dir. of Operations	48.00	Highest	$101,381	$18,033	$119,414
Peter Nelson	Chair Elect/Chair	2.00	Officer Director	$0	$0	$0
Mark Toombs	Chair/Past Chair	2.00	Officer Director	$0	$0	$0
Anita Vogel-Drantlaw	Past Chair (To 6/30/23)	2.00	Officer Director	$0	$0	$0
Tiffany Baer Paine	Vice Chair/Chair Elect	2.00	Officer Director	$0	$0	$0
Greg Raymo	Treasurer/Vice Chair	2.00	Officer Director	$0	$0	$0
Bill LaVinge	Director/Treasurer	2.00	Officer Director	$0	$0	$0
Gary Timm	Director	2.00	Director	$0	$0	$0
Mike Bresnahan	Director	2.00	Director	$0	$0	$0
Jacob Jenniges	Director	2.00	Director	$0	$0	$0
Michael Bilski	Director	2.00	Director	$0	$0	$0
Harry Wahlquist	Director	2.00	Director	$0	$0	$0
Randy Dorn	Director	2.00	Director	$0	$0	$0
Mark Finstad	Director	2.00	Director	$0	$0	$0
Noah Wilcox	Director	2.00	Director	$0	$0	$0
Richard Jones	Director	2.00	Director	$0	$0	$0
Bernie Gaytko	Director	2.00	Director	$0	$0	$0

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	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$1,918,103	$1,869,379	$2,110,177	$48,724
2022	$1,923,476	$1,840,082	$2,066,253	$83,394
2021	$2,583,601	$2,345,682	$3,288,805	$237,919
2020	$1,707,907	$1,605,920	$2,617,140	$101,987
2019	$1,610,495	$1,635,634	$1,725,949	$-25,139
2018	$1,371,535	$1,448,062	$2,120,634	$-76,527

Independent Community Bankers of Minnesota