2025-04-10T12:40:39-05:00 2024-06-30 450250958 Eide Bailly LLP 800 Nicollet Mall Ste 1300 Minneapolis MN 554027033 990 2023-07-01 411767627 Minnesota Bankers Association Employee Benefits Trust MINN 9528353900 8050 Washington Ave South 150 Eden Prairie MN 55344 Joseph Witt President/CEO 9528353900 2025-04-04 1 1 Deb Nelson CPA P01264758 6122536500 2025-04-02 2023 2025-03-06 01:10:19Z Joseph Witt 8050 Washington Ave South 150 Eden Prairie MN 55344 3582443 0 X N/A X 1986 MN Provides group insurance benefits for employees of member banks of Minnesota Bankers Assoc. 8 0 0 0 36566 0 0 0 3427607 3545877 12173 36566 0 0 3439780 3582443 0 0 1853276 1958638 362474 374996 0 0 0 1439688 1467435 3655438 3801069 -215658 -218626 1847930 1546855 218063 161180 1629867 1385675 MBA EBT provides insurance products to over 5,400 employees of banks throughout Minnesota. 0 0 The MBA Life Plan provides basic and optional life insurance to 3,518 employees of Minnesota banks.The MBA Disability Plan provides long-term and short-term disability insurance to 2,934 employees of Minnesota banks.The MBA Dental Plan provides dental insurance to 2,499 employees of Minnesota banks. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 X 8 0 0 0 0 0 1 1 0 1 0 0 0 0 1 1 1 1 1 0 0 0 X Joseph Witt 9528353900 8050 Washington Ave S Ste 150 Eden Prairie MN 55344 X Andy Schornack Trustee 1.00 39.00 X 0 0 0 Douglas Tate Trustee 1.00 39.00 X 0 0 0 Rich Hoban Trustee 1.00 39.00 X 0 0 0 Greg Evans Trustee 1.00 39.00 X 0 0 0 Brian Matzke Trustee 1.00 39.00 X 0 0 0 Troy Rosenbrook Trustee 1.00 39.00 X 0 0 0 Erin Procko Trustee 1.00 39.00 X 0 0 0 John Ohlin Trustee 1.00 39.00 X 0 0 0 Josh Johnson Trustee 1.00 39.00 X 0 0 0 Ralph Pace Trustee 1.00 39.00 X 0 0 0 Jim Boerjan Trustee 1.00 39.00 X 0 0 0 Joe Witt MBA President/CEO 3.70 36.30 X 0 442753 67112 0 442753 67112 0 0 1 0 0 Insurance Premiums fro 524298 3545877 3545877 3545877 36566 36566 3582443 3545877 36566 0 1958638 286896 20170 48649 19281 36000 389 115 787 47100 26887 633 2313 4939 Insurance Premiums 1217032 Dental ASO Fee 129557 Dues & Subscriptions 218 1465 3801069 570024 453062 1261398 1086347 16508 7446 24795 24795 0 0 1847930 1546855 27723 20454 190340 140726 218063 161180 X 0 0 0 0 1629867 1385675 1629867 1385675 1847930 1546855 -218626 -25566 0 X X 0 0 0 24795 24795 0 0 Unearned Insurance Premiums 3861 Claims Reported and Payable 104223 Other Liabilities 32642 140726 0 0 0 Joe Witt MBA President/CEO 0 367369 0 75384 0 0 0 22500 0 44612 0 509865 0 0 Form 990, Schedule J, Line 3: The officer compensation is paid by a related organization, Minnesota Bankers Association. The Trust relies on that organization to use some of the methods identified in Line 3 of Schedule J. Form 990, Part VI, Section A, line 6 The organization is a VEBA under 501(c)(9) of the Internal Revenue Code. Each employee of an Employer shall become a member in the Trust upon satisfying the eligibility and participation requirements set forth in the instrument which established the Plan. The Employer includes Minnesota Bankers Association, Minnesota Bankers Association Employee Benefits Trust, and any member of MBA which has adopted the Plan for its eligible employees and their beneficiaries, and any sucessors to MBA or its members. Form 990, Part VI, Section A, line 7a Minnesota Bankers Association (MBA) appoints the trustees. An annual election occurs at the MBA annual meeting to elect the new MBA Vice Chair/Treasurer who also serves as a MBA EBT Trustee. Form 990, Part VI, Section A, line 8b The Trust has no committee with authority to act on behalf of the governing body. Form 990, Part VI, Section B, line 11b The Form 990 is reviewed by MBA's President/CEO prior to filing. Form 990, Part VI, Section B, line 12c Annually, the trustees are required to sign a disclosure acknowledging that they have received and read the conflict of interest policy. Any potential conflicts should be brought forward to the President/CEO. Form 990, Part VI, Section C, line 19 The organization makes its governing documents, conflict of interest policy, and financial statements available upon request. Form 990, Part VI, Line 1b: The Board of Trustees consists of employees of the contributing employers, and as such, the Trustees are compensated by the contributing employers for the services they provide as employees of their respective employer. Due to this, the Trustees are not considered independent for tax reporting purposes. Form 990, Part VII: The Board of Trustees are employees of contributing employers or the sponsoring employer organization, and those organizations are considered related organizations under the definitions for Form 990, Schedule R. For the related organizations that are for-profit entities, they are not owned or controlled, directly or indirectly, by the organization or one or more related tax-exempt organizations, and do not provide management services for a fee to the organization. As such, under the volunteer exception compensation paid by those related organizations is omitted. Form 990, Part XII, Line 2b: The Trust does not have an audit, but the three plans that roll up into the Trust, and make up the total activity of the Trust, do have a separate audit by an independent accountant. Minnesota Bankers Association 8050 Washington Avenue South Eden Prairie MN 55344 411329720 Promoting general welfare and interest of banking industry. 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