2019 IBAO ANNUAL REPORT 2019'S BEEN A PRODUCTIVE AND EFFECTIVE YEAR FOR THE IBAO. WE DELIVERED ON OUR THREE-YEAR STRATEGIC PLAN IN THE STRONGEST FINANCIAL POSITION IN OUR HISTORY, AND WE REMAIN FOCUSED ON INCREASING MEMBERSHIP VALUE AS WE ENTER OUR 100TH YEAR. -Jeff Gatcke, IBAO President 13