Overview
What is Minnesota Bankers Association Employee Benefits Trust?
The Minnesota Bankers Association Employee Benefits Trust (MBA EBT) is a voluntary employees' benefits association (VEBA) based in Eden Prairie, Minnesota. With a location at 8050 Washington Ave South 150, MBA EBT offers group insurance benefits for the employees of member banks in Minnesota. The benefits provided by MBA EBT include dental, life, and disability insurance, catering to a substantial workforce of over 5,400 employees across various banks in the state. The trust aims to enhance the welfare and security of these employees through its insurance products, ensuring comprehensive coverage and peace of mind.
Is Minnesota Bankers Association Employee Benefits Trust legitimate?
Minnesota Bankers Association Employee Benefits Trust is a legitimate nonprofit organization registered as a 501(c)(9) entity. Minnesota Bankers Association Employee Benefits Trust submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $36,001
Professional Fundraising Fees: $0
Other Salaries and Wages: $234,101
For more financial information, click here
What is the mission statement of Minnesota Bankers Association Employee Benefits Trust?
The Minnesota Bankers Association Employee Benefits Trust (MBA EBT) serves as a Voluntary Employees' Beneficiary Association (VEBA), offering group insurance benefits to the employees of member banks. Their primary activity involves providing insurance products such as dental, life, and disability coverage. The MBA EBT currently caters to over 5,400 employees across various banks in Minnesota. More specifically, the MBA Life Plan offers basic and optional life insurance to 3,612 employees, the MBA Disability Plan provides long-term and short-term disability insurance to 3,526 employees, and the MBA Dental Plan offers dental insurance to 2,368 employees. Essentially, the MBA EBT aims to secure insurance benefits for bank employees, ensuring their well-being and peace of mind.
Who is the CEO of Minnesota Bankers Association Employee Benefits Trust?
Joseph Witt is the Chair of Minnesota Bankers Association Employee Benefits Trust. The CEO's salary of Minnesota Bankers Association Employee Benefits Trust is $0 and their total compensation is $449,976.
What is the revenue of Minnesota Bankers Association Employee Benefits Trust?
Minnesota Bankers Association Employee Benefits Trust's revenue in 2022 was $3,479,882.
Who are the executives of Minnesota Bankers Association Employee Benefits Trust and what are their salaries?
There 7 volunteers at Minnesota Bankers Association Employee Benefits Trust.
Here are 14 key members and their salaries (Minnesota Bankers Association Employee Benefits Trust's CEO's salary is $0 and their total compensation is $449,976):
- Compensation: $0
- Related: $0
- Other: $0
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- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
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- Other: $0
- Compensation: $0
- Related: $389,405
- Other: $60,571
- Compensation: $0
- Related: $215,954
- Other: $37,223
- Compensation: $0
- Related: $169,255
- Other: $13,722
- Compensation: $0
- Related: $117,048
- Other: $29,601
- Compensation: $0
- Related: $136,555
- Other: $7,168
- Compensation: $0
- Related: $125,796
- Other: $9,326
Where can I find the form 990 for Minnesota Bankers Association Employee Benefits Trust?
Minnesota Bankers Association Employee Benefits Trust's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Minnesota Bankers Association Employee Benefits Trust
Minnesota Bankers Association Employee Benefits Trust (MBA EBT) serves as a Voluntary Employees' Beneficiary Association (VEBA), offering group insurance benefits to the employees of member banks within Minnesota. The organization's mission is to provide essential insurance products, including dental, life, and disability coverage, to over 5,400 employees across the state.
Specifically, the MBA EBT offers various insurance plans, such as the MBA Life Plan, MBA Disability Plan, and the MBA Dental Plan. The MBA Life Plan caters to 3,612 bank employees by offering both basic and optional life insurance coverage. Meanwhile, the MBA Disability Plan provides long-term and short-term disability insurance to 3,526 employees, ensuring financial security in the event of illness or injury. Lastly, the MBA Dental Plan offers dental insurance to 2,368 bank employees, ensuring they maintain good oral health. By offering these comprehensive insurance plans, MBA EBT aims to support the well-being and financial security of bank employees and their families.
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Impact
October, 2024
Minnesota Bankers Association Employee Benefits Trust (MBA EBT) significantly enhances the financial security and well-being of employees working in the banking sector across Minnesota. By providing a range of group insurance benefits—including dental, life, and disability coverage—MBA EBT supports the health and peace of mind of over 5,400 employees from member banks.
The MBA Life Plan alone extends basic and optional life insurance to 3,612 employees, ensuring that their families are protected in the event of unforeseen circumstances. Similarly, the MBA Disability Plan covers 3,526 employees with both long-term and short-term disability insurance, providing crucial income protection during periods when they cannot work due to illness or injury. The organization also offers dental insurance to 2,368 employees through the MBA Dental Plan, promoting both dental health and accessibility to necessary treatments.
Overall, the impact of MBA EBT is a robust enhancement of employee benefits, fostering a more secure and supportive workplace environment for banking professionals throughout Minnesota.
This information is meant to be a general summary of Minnesota Bankers Association Employee Benefits Trust. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $5,414
- Program Service Revenue: $3,474,468
- Gross Receipts: $3,479,882
Assets and Liabilities:
- Total Assets: $1,999,600
- Total Liabilities: $154,075
- Net Assets: $1,845,525
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INSURANCE PREMIUMS
Revenue
$3,474,468
Organization Details
Founding Year
1986
Phone
(952) 835-3900Principal Officer
Joseph Witt
Main Address
8050 WASHINGTON AVE SOUTH 150, EDEN PRAIRIE, MN, 55344
NTEE Category
Code: Y40 - Mutual benefit
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