2024-11-14T09:13:40-06:00 2023-12-31 410746749 CLIFTONLARSONALLEN LLP 220 S 6TH STREET SUITE 300 MINNEAPOLIS MN 55402 990 2023-01-01 410327400 INDEPENDENT COMMUNITY BANKERS OF AMERICA INDE 3203526546 518 LINCOLN ROAD SAUK CENTRE MN 56378 ALEX GALEANO SEVP/CFO 3203526546 2024-11-14 1 1 ANN NEIL P01817922 6123764500 2024-11-12 2023 2024-10-15 13:58:12Z REBECA ROMERO RAINEY 518 LINCOLN ROAD SAUK CENTRE MN 56378 77630374 0 X WWW.ICBA.ORG X 1930 MN CREATE AND PROMOTE AN ENVIRONMENT WHERE COMMUNITY BANKS FLOURISH. 20 19 203 264 1874398 815439 0 0 31646787 32803719 3578089 341240 11003223 11763013 46228099 44907972 506205 303436 0 0 24835956 26817664 0 0 0 16363653 24941810 41705814 52062910 4522285 -7154938 279726377 291398996 30004298 34200446 249722079 257198550 X CREATE AND PROMOTE AN ENVIRONMENT WHERE COMMUNITY BANKS FLOURISH. 0 0 PUBLICATIONS-ICBA'S MANY PUBLICATIONS INFORM MEMBERS ABOUT THE TRENDS AND ISSUES AFFECTING THE COMMUNITY BANKING INDUSTRY, INCLUDING AWARD WINNING INDEPENDENT BANKER MAGAZINE AND ICBA NEWSWATCH TODAY. EDUCATION-ICBA PROVIDES COMMUNITY BANKERS WITH EDUCATION TO MEET THEIR TECHNOLOGY, OPERATIONS, AND COMPLIANCE NEEDS. ICBA OFFERS SUPERIOR SEMINARS, PRODUCTS, AND ONLINE TRAINING THAT BRINGS TOP INDUSTRY KNOWLEDGE TO MEMBERS. ALL COURSES ARE REVIEWED AND APPROVED BY A COMMITTEE OF COMMUNITY BANKERS BEFORE THEY BECOME AVAILABLE.CONTINUED ON SCHEDULE O. ICBA LIVE-ICBA'S ANNUAL CONVENTION IS THE LARGEST EDUCATIONAL GATHERING OF COMMUNITY BANKERS. THE EDUCATIONAL OPPORTUNITIES AT THIS NATIONAL EVENT KEEP BANKERS UP TO DATE ON THE LATEST TRENDS AND INNOVATIONS IMPACTING THEIR BANK.BANK DIRECTOR PROGRAM-ICBA'S BANK DIRECTOR PROGRAM OFFERS DIRECTORS ESSENTIAL INFORMATION, IN-DEPTH EDUCATIONAL PROGRAMS AND CONVENIENCE. OVER 5,000 PARTICIPANTS NETWORK WITH OTHER COMMUNITY BANK DIRECTORS FROM ACROSS THE COUNTRY TO KEEP "COMMUNITY" IN THEIR COMMUNITY BANKS.MARKETING RESOURCES-ICBA OFFERS MARKETING RESOURCE PROGRAMS DESIGNED TO HELP MEMBERS FIND COST-EFFECTIVE AND TIME-SAVING WAYS TO PROMOTE THEIR BANKS.CONSUMER EDUCATION AND RESOURCES-ICBA HAS FORMED ALLIANCES WITH VARIOUS ORGANIZATIONS TO PROVIDE EDUCATION AND RESOURCES FOR MEMBERS AND THEIR COMMUNITIES. 0 0 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 1 90 0 203 1 1 1 1 TK 0 0 1 1 0 1 0 X 20 19 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 1 1 CA X SHERRY JEAN LARSON 3203526546 518 LINCOLN ROAD SAUK CENTRE MN 56378 REBECA ROMERO RAINEY PRESIDENT/CEO 40.00 5.00 X X 1926267 0 44818 BRAD BOLTON IMMEDIATE PAST CHAIRMAN 1.00 0.00 X X 25631 0 0 ROBERT FISHER PAST CHAIRMAN 1.00 0.00 X 17591 0 0 LUCAS WHITE CHAIRMAN-ELECT 1.00 0.00 X 31802 0 0 DEREK WILLIAMS CHAIRMAN 1.00 0.00 X X 30253 0 0 PRESTON KENNEDY PAST CHAIRMAN UNTIL MARCH 2023 1.00 0.00 X 13876 0 0 JACK HARTINGS DIRECTOR 1.00 0.00 X 14864 0 0 SARAH GETZLAFF TREASURER 1.00 0.00 X X 8831 0 0 TIM AIKEN SECRETARY UNTIL MARCH 2023 1.00 0.00 X X 7604 0 0 MARK HESSER DIRECTOR UNTIL MARCH 2023 1.00 0.00 X 1068 0 0 SCOTT HEITKAMP PAST CHAIRMAN UNTIL MARCH 2023 1.00 0.00 X 3878 0 0 DOUG OUELLETTE DIRECTOR UNTIL MARCH 2023 1.00 0.00 X 3028 0 0 ALICE FRAZIER DIRECTOR 1.00 0.00 X 5563 0 0 KATHY UNDERWOOD DIRECTOR UNTIL MARCH 2023 1.00 0.00 X 2936 0 0 MICHAEL J BURKE JR DIRECTOR 1.00 0.00 X 0 0 0 NOAH WILCOX PAST CHAIRMAN 1.00 0.00 X 12502 0 0 QUENTIN LEIGHTY DIRECTOR 1.00 0.00 X 1649 0 0 BRENDA FOSTER DIRECTOR 1.00 0.00 X 0 0 0 THOMAS BATES JR DIRECTOR 1.00 0.00 X 2040 0 0 JILL SUNG DIRECTOR 1.00 0.00 X 0 0 0 SHON MYERS DIRECTOR 1.00 0.00 X 0 0 0 JACK HOPKINS VICE CHAIRMAN 1.00 0.00 X X 34479 0 0 JAMES SILLS III SECRETARY 1.00 0.00 X X 7286 0 0 JOHN 'JV' EVANS III DIRECTOR 1.00 0.00 X 1269 0 0 ANITA DRENTLAW DIRECTOR 1.00 0.00 X 3262 0 0 VERLIN BARKER DIRECTOR 1.00 0.00 X 3408 0 0 TERRY JORDE SEVP/CHIEF OF STAFF UNTIL MAY 2023 43.00 2.00 X 890806 0 80791 ALEX GALEANO SEVP/CHIEF FINANCE & ADMIN 25.00 20.00 X 492117 0 44818 KEVIN TWEDDLE SEVP COMMUNITY BANK SOLUTIONS 25.00 20.00 X 529990 0 44818 PRABHASH SHRESTHA GEVP CHIEF DIGITAL STRATEGY 40.00 5.00 X 392867 0 44818 LINDSAY LANORE SEVP CHIEF LEARNING & EXP OFFICER 45.00 0.00 X 352995 0 47868 ROBERT BIRGFELD EVP CHIEF MARKETING OFFICER 45.00 0.00 X 315217 0 43700 VALERIE UTSEY EVP CHIEF PEOPLE OFFICER 45.00 0.00 X 327381 0 46371 ANNE BALCER SEVP CHIEF GOV RELAT & PUBLIC 45.00 0.00 X 536695 0 44231 PAUL MERSKI GEVP CONGRESSIONAL RELATIONS 40.00 0.00 X 414771 0 117331 CHARLES POTTS EVP CHIEF INNOVATION OFFICER 40.00 0.00 X 311750 0 43389 LILLIANE THOMAS EVP REGULATORY POLICY 40.00 0.00 X 306023 0 65216 CHRISTOPHER COLE EVP SENIOR REGULATORY COUNSEL 40.00 0.00 X 280515 0 235804 WALTER HAYNIE SVP MORTGAGE FINANCE POLICY 40.00 0.00 X 266773 0 83086 CAMDEN FINE FORMER PRESIDENT/CEO 0.00 0.00 X 131649 0 0 KAREN THOMAS FORMER SEVP GOV RELAT & PUBLIC 0.00 0.00 X 133220 0 0 7841856 0 987059 84 1 1 0 HILTON HAWAIIAN VILLAGE WAIKKI BEACH RES PO BOX 844236 DALLAS TX 75284 HOTEL/EVENT SPACE 1401521 TILT CREATIVE PRODUCTION LLC 23 S 13TH STREET SUITE 301 RICHMOND VA 23219 MARKETING/REBRANDING CONSULTING 1016473 MNI TARGETED MEDIA INC PO BOX 21916 NEW YORK NY 10087 MARKETING/MEDIA CONSULTING 881440 TR RUPLI & ASSOCIATES INC 6627 HOLLAND STREET MCLEAN VA 22102 GOVERNMENT RELATIONS CONSULTING 849920 PARK HYATT AVIARA RESORT LOCKBOX 202912 DALLAS TX 75320 HOTEL/EVENT SPACE 602270 34 MEMBERSHIP DUES 900099 21308419 21308419 CONVENTIONS/SEMINARS 900099 10651222 10647759 3463 ADVERTISING/MARKETING ROYALTIES 541800 844078 844078 32803719 3847042 -3978 3851020 11060561 682246 10378315 29205000 11600 32722356 46 -3517356 11554 -3505802 -3505802 MISCELLANEOUS REVENUE 900099 353863 353863 ISN SERVICE CONTRACT 541900 348589 348589 702452 44907972 32310041 1874398 10723533 X 303436 6394388 264869 15172745 909142 2577127 1499393 431072 89920 304305 7858885 2150984 771120 990136 1156728 2770670 5866914 230858 316928 OTHER EXPENSES 1154543 SUBSCRIPTIONS 361972 TAXES 348807 SPORTING EVENTS 137968 52062910 4946901 7371565 15030718 15418574 6619225 11186068 11176488 11176488 3193630 3496890 12027535 10648699 861166 1378836 126279000 130174436 107142847 106624836 4476402 4571303 279726377 291398996 2740533 4855143 20913751 20700705 810618 863590 5539396 7781008 30004298 34200446 X 249722079 257198550 249722079 257198550 279726377 291398996 X -7154938 17902073 -3270664 X 0 1 X 1 0 0 0 1 20271254 6284785 -1902481 4382304 6567886 -2185582 PART I-A, LINE 1: ICBA WORKS IN WASHINGTON TO PROTECT THE INTERESTS OF COMMUNITY BANKS BY MONITORING AND INFLUENCING NUMEROUS FEDERAL ACTIVITIES AFFECTING COMMUNITY BANKS AND CUSTOMERS. THERE'S A BROAD REACH WITH LAWMAKERS, REGULATORS, AND POLICY-SETTING BOARDS AND WORKING WITH THESE BODIES ENSURES THAT THE NEEDS OF THE COMMUNITY BANKERS ARE HEARD AND MET. 0 1 X 26100 26100 686111 685295 816 4580426 3882910 697516 6704746 6080494 624252 30152 30152 1378836 8893066 C SUBSIDIARY INVESTMENTS 90557778 F PRIVATE EQUITY 7173992 C 106624836 LEASE LIABILITY 4545583 INTERCOMPANY PAYABLE 3166375 INCOME TAX PAYABLE 69050 7781008 X 61837001 17902073 17902073 43934928 304305 668739 973044 44907972 49173172 0 49173172 304305 2585433 2889738 52062910 PART IV, LINE 2B: THE ESCROW ACCOUNT LIABILITY IS RELATED THE ORGANIZATION'S 457(B) DEFERRED COMPENSATION PLAN. PART X, LINE 2: THE ASSOCIATION IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER SECTION 501(C)(6) OF THE INTERNAL REVENUE CODE (IRC), WITH THE EXCEPTION OF CERTAIN UNRELATED BUSINESS INCOME, WHICH IS SUBJECT TO TAX. UNDER THE CURRENT PROVISIONS OF IRC SECTION 512(B), UNRELATED BUSINESS TAXABLE INCOME, PAYMENTS RECEIVED FROM CONTROLLED SUBSIDIARIES ARE SUBJECT TO UNRELATED BUSINESS INCOME TAX ONLY TO THE EXTENT THEY ARE IN EXCESS OF THE FAIR MARKET VALUE OF THE PAYMENT. MANAGEMENT HAS CONDUCTED A 482 TRANSFER PRICING STUDY AND AS A RESULT OF THAT STUDY DETERMINED THAT THE ROYALTIES DO NOT EXCEED FAIR MARKET VALUE AND ARE THEREFORE, NOT SUBJECT TO UNRELATED BUSINESS INCOME TAX. FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ACCOUNTING STANDARDS CODIFICATION (ASC) 740, INCOME TAXES, PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THE ASSOCIATION'S MANAGEMENT HAS EVALUATED THE IMPACT OF THIS GUIDANCE TO ITS FINANCIAL STATEMENTS. THE ASSOCIATION'S INCOME TAX RETURNS ARE SUBJECT TO EXAMINATION BY TAXING AUTHORITIES, GENERALLY FOR A PERIOD OF THREE YEARS FROM THE DATE THE RETURNS ARE FILED. THE ASSOCIATION'S POLICY IS TO CLASSIFY INCOME TAX RELATED INTEREST AND PENALTIES IN INTEREST EXPENSE AND OTHER EXPENSES, RESPECTIVELY. PART XI, LINE 4B - OTHER ADJUSTMENTS: ICBA VENTURES, LLC REVENUES 1,150. ISN CONTRACT REVENUE 348,589. OTHER ADJUSTMENTS 319,000. PART XII, LINE 4B - OTHER ADJUSTMENTS: ICBA VENTURES, LLC EXPENSES 1,917,844. ISN CONTRACT REVENUE 348,589. OTHER ADJUSTMENTS 319,000. 1 TECHNOLOGY ASSOCIATION OF GEORGIA INC 4400 N POINT PKWY STE 155 ALPHARETTA GA 30022 582421006 501(C)(6) 5312 0 N/A N/A THIS ORGANIZATION SUPPORTS BUSINESSES THAT DEVELOP PRODUCTS AND TECHNOLOGIES THAT FURTHER THE MISSION OF ICBA AND ITS SUPPORT OF COMMUNITY BANKS. HEART OF THE DELTA FOUNDATION 111 MAGNOLIA STREET BELZONI MS 39038 311739673 501(C)(3) 10000 0 N/A N/A CHARITABLE DONATION TO SUPPORT COMMUNITY BANKERS AFFECTED BY TORNADO. VIRGINIA ASSOCIATION OF COMMUNITY BANKS 7204 GLEN FOREST DRIVE 101 RICHMOND VA 23226 541094907 501(C)(6) 50000 0 N/A N/A TO SUPPORT AN ASSOCIATION WHOSE PURPOSE IS TO SUPPORT COMMUNITY BANKS IN VIRGINIA. HAWAII BANKERS ASSOCIATION 1000 BISHOP STREET SUITE 301B HONOLULU HI 96813 990163894 501(C)(6) 17885 0 N/A N/A CHARITABLE DONATION TO SUPPORT COMMUNITY BANKERS AFFECTED BY MAUI WILDFIRES. COMMUNITY BANKERS ASSOCIATION OF GEORGIA 1640 POWERS FERRY RD SE MARIETTA GA 30067 237044028 501(C)(6) 20000 0 N/A N/A TO SUPPORT AN ASSOCIATION WHOSE PURPOSE IS TO SUPPORT COMMUNITY BANKS IN GEORGIA. COMMUNITY BANKERS ASSOCIATION OF ILLINOIS 901 COMMUNITY DRIVE SPRINGFIELD IL 62703 370990447 501(C)(6) 6000 0 N/A N/A TO SUPPORT AN ASSOCIATION WHOSE PURPOSE IS TO SUPPORT COMMUNITY BANKS IN ILLINOIS. BANK DIRECTOR INC 201 SUMMIT VIEW DR SUITE 250 BRENTWOOD TN 37027 N/A 8750 0 N/A N/A THIS ORGANIZATION SUPPORTS BOARD OF DIRECTORS AND EXECUTIVES OF COMMUNITY BANKS. GW FINANCIAL 281 MAIN ST READING MA 01867 N/A 9389 0 N/A N/A THIS ORGANIZATION SUPPORTS EXECUTIVES OF COMMUNITY BANKS. UNIVERSITY OF MISSISSIPPI FOUNDATION 406 UNIVERSITY AVENUE OXFORD MS 38655 237310293 501(C)(3) 7215 0 N/A N/A TO SUPPORT BANKING & FINANCE AT THE UNIVERSITY OF MISSISSIPPI. COMMUNITY DEVELOPMENT BANKERS ASSOCIATION 1204 15TH STREET NW SUITE 200 WASHINGTON DC 20005 731688515 501(C)(3) 10000 0 N/A N/A THIS ORGANIZATION SUPPORTS COMMUNITY BANKS. 3 7 PART I, LINE 2: ICBA DOES NOT MONITOR THE USE OF THE ASSISTANCE (CHARITABLE CONTRIBUTION). X X X X 1 1 X X X X X X 0 1 0 REBECA ROMERO RAINEY PRESIDENT/CEO 1625000 0 277500 0 23767 0 19800 0 25018 0 1971085 0 0 0 TERRY JORDE SEVP/CHIEF OF STAFF UNTIL MAY 2023 592165 0 61200 0 237441 0 64800 0 15991 0 971597 0 0 0 ANNE BALCER SEVP CHIEF GOV RELAT & PUBLIC 515000 0 15625 0 6070 0 19800 0 24431 0 580926 0 0 0 KEVIN TWEDDLE SEVP COMMUNITY BANK SOLUTIONS 478950 0 37200 0 13840 0 19800 0 25018 0 574808 0 0 0 ALEX GALEANO SEVP/CHIEF FINANCE & ADMIN 444565 0 40463 0 7089 0 19800 0 25018 0 536935 0 0 0 PAUL MERSKI GEVP CONGRESSIONAL RELATIONS 392360 0 17954 0 4457 0 91800 0 25531 0 532102 0 0 0 CHRISTOPHER COLE EVP SENIOR REGULATORY COUNSEL 259620 0 9398 0 11497 0 223261 0 12543 0 516319 0 0 0 PRABHASH SHRESTHA GEVP CHIEF DIGITAL STRATEGY 360500 0 28000 0 4367 0 19800 0 25018 0 437685 0 0 0 LINDSAY LANORE SEVP CHIEF LEARNING & EXP OFFICER 325333 0 24400 0 3262 0 19800 0 28068 0 400863 0 0 0 VALERIE UTSEY EVP CHIEF PEOPLE OFFICER 297752 0 22800 0 6829 0 19353 0 27018 0 373752 0 0 0 LILLIANE THOMAS EVP REGULATORY POLICY 291147 0 12150 0 2726 0 40198 0 25018 0 371239 0 0 0 ROBERT BIRGFELD EVP CHIEF MARKETING OFFICER 293550 0 17813 0 3854 0 18682 0 25018 0 358917 0 0 0 CHARLES POTTS EVP CHIEF INNOVATION OFFICER 283250 0 22925 0 5575 0 18371 0 25018 0 355139 0 0 0 WALTER HAYNIE SVP MORTGAGE FINANCE POLICY 250022 0 8229 0 8522 0 55678 0 27408 0 349859 0 0 0 KAREN THOMAS FORMER SEVP GOV RELAT & PUBLIC 0 0 0 0 133220 0 0 0 0 0 133220 0 0 0 CAMDEN FINE FORMER PRESIDENT/CEO 0 0 0 0 131649 0 0 0 0 0 131649 0 0 0 PART I, LINE 1A FIRST-CLASS TRAVEL: FIRST-CLASS TRAVEL IS ALLOWED FOR CERTAIN EXCEPTIONS DEPENDING ON TRAVEL TIME. TRAVEL FOR COMPANIONS: COMPANION TRAVEL REIMBURSEMENT IS PROVIDED TO BOARD MEMBERS AND SENIOR STAFF AS THEY ATTEND CERTAIN MEETINGS AND EVENTS OF THE ORGANIZATION. THE AMOUNT FOR THE COMPANION TRAVEL IS GROSSED-UP AND INCLUDED IN APPROPRIATE TAX FORMS. HEALTH/SOCIAL CLUB DUES: ICBA PAYS FOR THE DUES TO THE UNIVERSITY CLUB OF WASHINGTON DC FOR CERTAIN SENIOR STAFF. ITEMS THAT ARE PERSONAL IN NATURE ARE REPORTED AS TAXABLE WAGES. PART I, LINE 4B CAMDEN FINE AND TERRY JORDE PARTICIPATED IN A SPLIT-DOLLAR LIFE INSURANCE PLAN. SCHEDULE J, PART II, COLUMN C: ICBA MAINTAINS A MULTIEMPLOYER DEFINED BENEFIT PLAN WHICH WAS FROZEN ON 1/1/2012. FOR ELIGIBLE EMPLOYEES, IN ACCORDANCE WITH IRS GUIDELINES, THE INCREASE OR DECREASE IN THE ACTUARIAL VALUE OF AN EMPLOYEES ACCOUNT ARE REFLECTED IN SCHEDULE J, COLUMN C- RETIREMENT AND OTHER DEFERRED COMPENSATION. CAMDEN FINE FORMER PRESIDENT AND CEO 2015 SPLIT DOLLAR INSURANCE PREMIUM X 635000 610298 0 1 1 CAMDEN FINE FORMER PRESIDENT AND CEO 2009 SPLIT DOLLAR INSURANCE PREMIUM X 635000 635000 0 1 1 CAMDEN FINE FORMER PRESIDENT AND CEO 2010 SPLIT DOLLAR INSURANCE PREMIUM X 635000 635000 0 1 1 CAMDEN FINE FORMER PRESIDENT AND CEO 2011 SPLIT DOLLAR INSURANCE PREMIUM X 635000 635000 0 1 1 CAMDEN FINE FORMER PRESIDENT AND CEO 2012 SPLIT DOLLAR INSURANCE PREMIUM X 1860000 1860000 0 1 1 PATRICIA HOPKINS FORMER SR. EVP/ CFO 2015 SPLIT DOLLAR INSURANCE PREMIUM X 1821190 1821190 0 1 1 TERRY JORDE SR. EVP, CHIEF OF STAFF UNTIL MAY 2023 2017 SPLIT DOLLAR INSURANCE PREMIUM X 830000 830000 0 1 1 TERRY JORDE SR. EVP, CHIEF OF STAFF UNTIL MAY 2023 2018 SPLIT DOLLAR INSURANCE PREMIUM X 830000 830000 0 1 1 TERRY JORDE SR. EVP, CHIEF OF STAFF UNTIL MAY 2023 2019 SPLIT DOLLAR INSURANCE PREMIUM X 830000 830000 0 1 1 TERRY JORDE SR. EVP, CHIEF OF STAFF UNTIL MAY 2023 2020 SPLIT DOLLAR INSURANCE PREMIUM X 830000 830000 0 1 1 TERRY JORDE SR. EVP, CHIEF OF STAFF UNTIL MAY 2023 2021 SPLIT DOLLAR INSURANCE PREMIUM X 830000 830000 0 1 1 TERRY JORDE SR. EVP, CHIEF OF STAFF UNTIL MAY 2023 2022 SPLIT DOLLAR INSURANCE PREMIUM X 830000 830000 0 1 1 11176488 FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE SHALL BE COMPOSED OF THE CHAIRMAN, CHAIRMAN-ELECT, VICE CHAIRMAN, PRESIDENT, SECRETARY, TREASURER, CHAIRMAN OF ICBA CONSOLIDATED HOLDINGS, ICBA CORPORATE SECRETARY AND THE PAST TWO CHAIRMEN. THE EXECUTIVE COMMITTEE SHALL HAVE AND EXERCISE ALL POWERS AND AUTHORITY OF THE BOARD OF DIRECTORS WHEN THE BOARD OF DIRECTORS IS NOT IN SESSION EXCEPT FOR POWERS EXPRESSLY RESERVED TO THE BOARD OF DIRECTORS. THE EXECUTIVE COMMITTEE SHALL APPOINT THE PRESIDENT OF THE ASSOCIATION AND SHALL FILL ANY VACANCY IN THAT OFFICE. THE EXECUTIVE COMMITTEE SHALL TAKE ALL REQUIRED AND NECESSARY ACTIONS ON BEHALF OF THE ASSOCIATION WITH RESPECT TO THE ASSOCIATION'S RIGHTS, DUTIES AND OBLIGATIONS WITH ANY ICBA RELATED ENTITY OR THIRD PARTY. FORM 990, PART VI, SECTION A, LINE 6 MEMBERSHIP IN THE ASSOCIATION IS EITHER "ACTIVE OR "HONORARY". ACTIVE MEMBERS ARE A COMMUNITY BANK OR OTHER COMMUNITY FINANCIAL INSTITUTION WHICH SUPPORTS AND ADHERES TO THE PRINCIPLES AND PURPOSES OF THIS ASSOCIATION. HONORARY MEMBER MAY BE CONFERRED ON ANY INDIVIDUALS OR ORGANIZATION BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7A THE CHAIRMAN-ELECT, VICE CHAIRMAN, SECRETARY AND TREASURER SHALL BE ELECTED ANNUALLY BY THE BOARD OF DIRECTORS AT THE BOARD OF DIRECTORS MEETING HELD IN CONJUNCTION WITH THE GENERAL CONVENTION. TO BE ELIGIBLE FOR ELECTION, CANDIDATES MUST BE EXECUTIVE OFFICERS OF AN ACTIVE MEMBER OR THE PARENT OF AN ACTIVE MEMBER. THE NOMINATING COMMITTEE SHALL EACH YEAR REVIEW ELIGIBLE CANDIDATES AND PROPOSE TO THE BOARD OF DIRECTORS ONE QUALIFIED NOMINEE FOR EACH ELECTIVE OFFICE. FORM 990, PART VI, SECTION A, LINE 7B THE EXECUTIVE COMMITTEE SELECTS THE TIME AND PLACE FOR THE GENERAL CONVENTION OF THE ASSOCIATION. THE EXECUTIVE COMMITTEE IS VESTED WITH THE MANAGEMENT OF THE ASSOCIATION BETWEEN GENERAL CONVENTIONS. ITS SOVEREIGNTY IS SECOND ONLY TO THAT OF THE GENERAL CONVENTIONS. IT SHALL HAVE THE POWER TO FILL ANY VACANCIES THAT MAY OCCUR IN ANY OF THE OFFICES OF THE ASSOCIATION AND IN THE MEMBERSHIP OF THE COMMITTEE. IT SHALL PROVIDE THE RULES AND REGULATIONS FOR THE CONDUCT OF THE ASSOCIATION'S AFFAIRS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY ICBA'S EXTERNAL TAX ADVISORS AND IS INTERNALLY REVIEWED BY ICBA'S MANAGEMENT, WHICH INCLUDES CERTIFIED PUBLIC ACCOUNTANTS, PRIOR TO FILING WITH THE IRS. THE RETURN IS REVIEWED BY THE CONTROLLER, CFO AND CEO. A COPY OF THE FORM 990, INCLUDING ALL REQUIRED SCHEDULES, IS PROVIDED TO MEMBERS OF THE GOVERNING BODY PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY COVERS ALL INTERESTED PERSONS, INCLUDING OFFICERS AND DIRECTORS. THE BOARD REVIEWS CONFLICTS AND DETERMINES IF CONFLICTS EXIST. IF A CONFLICT OF INTEREST IS DETERMINED TO EXIST AND IT HAS NOT BEEN DISCLOSED, THE BOARD, EXECUTIVE COMMITTEE, OR OTHER COMMITTEE SHALL TAKE APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION. PROCEEDINGS RESULTING FROM CONFLICTS OF INTEREST ARE DOCUMENTED IN THE APPROPRIATE BOARD'S OR COMMITTEE'S MEETING MINUTES. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION AND BENEFITS FOR THE CEO ARE SET BY THE COMPENSATION COMMITTEE THAT REVIEWS THE SALARY AND BENEFITS TO ENSURE THAT THEY ARE COMPETITIVE AND APPROVES ALL INCREASES AND OTHER CHANGES. ICBA PERIODICALLY ENGAGES AN INDEPENDENT CONSULTANT TO CONDUCT A COMPENSATION STUDY OF ALL ASSOCIATION POSITIONS, INCLUDING EXECUTIVE STAFF. THIS STUDY INCLUDES A COMPREHENSIVE MARKET ANALYSIS OF DATA FROM SEVERAL SOURCES TO ENSURE THAT THE COMPENSATION LEVELS ARE COMPETITIVE WITH THE EXTERNAL MARKET. THE MOST RECENT STUDY WAS CONDUCTED IN 2023. THE EXECUTIVE COMMITTEE APPROVES COMPENSATION RECOMMENDATIONS FOR ALL OFFICERS AND KEY EMPLOYEES ANNUALLY. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, FINANCIAL STATEMENTS AND CONFLICT OF INTEREST POLICY ARE NOT AVAILABLE TO THE PUBLIC, HOWEVER, THEY ARE MADE AVAILABLE TO THE MEMBERS OF THE BOARD OF DIRECTORS AND STAFF OF ICBA. FORM 990, PART IX, LINE 11G PROFESSIONAL CONSULTING 7,733,984. BENEFITS CONSULTING 124,901. FORM 990, PART XI, LINE 9: EQUITY IN EARNINGS OF SUBSIDIARY -3,864,019. OTHER CHANGES IN NET ASSETS 593,355. ICBA VENTURES LLC 518 LINCOLN ROAD SAUK CENTRE MN 56378 934129020 OPPORTUNITY FUND INVESTMENTS DE 1150 2050066 INDEPENDENT COMMUNITY BANKERS OF AMERICA ICBA FOUNDATION 1615 L STREET NW SUITE 900 WASHINGTON DC 20036 832846448 DISASTER RELIEF DC 501(C)(3) LINE 12A, I INDEPENDENT COMMUNITY BANKERS OF AMERICA 1 INDEPENDENT COMMUNITY BANKERS OF AMERICA PAC 1615 L STREET NW SUITE 900 WASHINGTON DC 20036 930882483 POLITICAL ACTION COMMITTEE DC 527 N/A INDEPENDENT COMMUNITY BANKERS OF AMERICA 1 ICBA SERVICES NETWORK 1615 L STREET NW SUITE 900 WASHINGTON DC 20036 541444840 HOLDING COMPANY DE ICBA CONSOLIDATED HOLDINGS INC C 4474444 86154681 1.00000 1 ICBA SECURITIES CORPORATION 775 RIDGE LAKE BLVD SUITE 175 MEMPHIS TN 38120 061253210 SECURITIES BROKER DE ICBA SERVICES NETWORK INC C 1740842 1078595 1.00000 1 ICBA BANCARD INC DBA ICBA PAYMENTS 1615 L STREET NW SUITE 900 WASHINGTON DC 20036 521439424 SERVICES DE ICBA SERVICES NETWORK INC C 71556156 158822413 1.00000 1 TCM BANK NA 3501 E FRONTAGE RD STE 200 TAMPA FL 33607 593476606 BANKING FL ICBA BANCARD INC C 78588954 346017938 1.00000 1 ICBA CONSOLIDATED HOLDINGS INC 1615 L STREET NW SUITE 900 WASHINGTON DC 20036 274374508 HOLDING COMPANY DE INDEPENDENT COMMUNITY BANKERS OF AMERICA C 33239 99671009 1.00000 1 USI ALLIANCE INC 8700 TRAIL LAKE DRIVE W SUITE 140 MEMPHIS TN 38125 621632904 SERVICES TN ICBA CONSOLIDATED HOLDINGS INC C 2887415 5207886 1.00000 1 SENIOR HOUSING CRIME PREVENTION INVESTMENT 8700 TRAIL LAKE DRIVE W SUITE 140 MEMPHIS TN 38125 621838616 SERVICES TN ICBA CONSOLIDATED HOLDINGS INC C 4765398 4361864 1.00000 1 ICBA REINSURANCE COMPANY LTD 1615 L STREET NW SUITE 900 WASHINGTON DC 20036 980196531 SERVICES AZ ICBA SERVICES NETWORK INC C 1028000 7077389 1.00000 1 ICBA WELLSERVE 1615 L STREET NW SUITE 900 WASHINGTON DC 20036 882382288 MANAGEMENT SERVICES DE ICBA SERVICES NETWORK INC C 3295313 1.00000 1 1 0 0 0 0 1 0 0 0 1 0 0 0 1 1 1 1 0 0 ICBA SERVICES NETWORK INC Q 4884564 ACTUAL AMOUNT INCURRED ICBA SERVICES NETWORK INC N 803060 ACTUAL AMOUNT INCURRED ICBA SERVICES NETWORK INC O 3612868 ACTUAL AMOUNT INCURRED ICBA BANCARD INC DBA ICBA PAYMENTS Q 5686249 ACTUAL AMOUNT INCURRED ICBA BANCARD INC DBA ICBA PAYMENTS A 2151760 ACTUAL AMOUNT INCURRED ICBA BANCARD INC DBA ICBA PAYMENTS N 88876 ACTUAL AMOUNT INCURRED ICBA BANCARD INC DBA ICBA PAYMENTS J 435970 ACTUAL AMOUNT INCURRED ICBA SECURITIES CORPORATION Q 1057921 ACTUAL AMOUNT INCURRED ICBA SECURITIES CORPORATION A 114002 ACTUAL AMOUNT INCURRED USI ALLIANCE INC Q 1806521 ACTUAL AMOUNT INCURRED TCM BANK NA Q 8150182 ACTUAL AMOUNT INCURRED TCM BANK NA A 2931476 ACTUAL AMOUNT INCURRED ICBA CONSOLIDATED HOLDINGS INC F 2750000 ACTUAL AMOUNT INCURRED