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Compensation 990 is an independent service that uses public IRS Form 990 filings as its source data. We clean and standardize this information, but the original filings may contain errors or omissions. Years on this site refer to the organization’s fiscal year end date on the filing.

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Employees Minnesota Business Finance Corporation Michael Stearns

Michael Stearns

Highest compensated employee

Vice President Business DE at Minnesota Business Finance Corporation

Fiscal year ended September 30, 2024. Published on January 25, 2026.

$176,981
2024

Total compensation

Michael Stearns has been listed as an employee of Minnesota Business Finance Corporation in Form 990 filings since fiscal year 2019. Total compensation for Michael Stearns has increased by 29.2% from 2019 to 2024.

Annual compensation details

$176,981
-2.8%
Vice President Business DE
2024
$138k
40 hrs/wk
$40k
--
$182,124
+8%
Vice President Business DE
2023
$144k
40 hrs/wk
$39k
--
$168,637
+10%
Vice President Business DE
2022
$134k
40 hrs/wk
$35k
--
$153,262
+8.8%
Vice President Business DE
2021
$125k
40 hrs/wk
$29k
--
$140,903
+2.9%
Vice President Business DE
2020
$115k
40 hrs/wk
$27k
--
$136,970
Vice President Business DE
2019
$109k
40 hrs/wk
$29k
--

Total compensation by year

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Revisions to this profile

January 25, 2026:
2024 Minnesota Business Finance Corporation 990 published
January 25, 2026:
2023 Minnesota Business Finance Corporation 990 published
January 25, 2026:
2022 Minnesota Business Finance Corporation 990 published

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2024

Other employees at Minnesota Business Finance Corporation

Thomas Saehr
Former President and Ceo/Boa
$380,146
$351,007 No related comp$29,139
Nadene Kruize
President and Chief Executive Officer
$303,728
$259,407 No related comp$44,321
Joseph Kammermeier
Vice President Business DE
$192,298
$158,090 No related comp$34,208
Terry Stein
Vice President Business DE
$185,231
$149,591 No related comp$35,640
Jennifer Fitzpatrick
Vice President LOAN Portf
$144,291
$113,322 No related comp$30,969
Sarah Borgman
Chief Credit Officer
$126,006
$101,919 No related comp$24,087
Maurice Durheim
Chair
$7,200
$7,200 No related compNo other comp
Bob Palmquist
Treasurer
$4,800
$4,800 No related compNo other comp
Carol Anderson
Vice Chair
$4,800
$4,800 No related compNo other comp

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