Topline Federal Credit Union
- Assets
- $801.3m
- Revenue
- $42.9m
- Investments
- $0.0
- Employees
- 144
- Location
- Maple Grove, MN
- Founding
- Data as of
- 12/2023
- EIN
- 41-0415960
Organization Overview
Topline Federal Credit Union is located in Maple Grove, MN. According to its NTEE Classification (W61) the organization is classified as: Credit Unions, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2023, Topline Federal Credit Union employed 144 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Topline Federal Credit Union is a 501(c)(14) and as such, is described as a "State Chartered Credit Union, Mutual Reserve Fund" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
DEDICATED TO BUILDING LIFE-LONG RELATIONSHIPS TO HELP YOU REACH AND MANAGE YOUR PERSONAL FINANCIAL GOALS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEMBERS HELPING MEMBERS IN A COMMUNITY-BASED, NOT-FOR-PROFIT ORGANIZATION, WITH THE GOAL OF BECOMING OUR MEMBERS PRIMARY FINANCIAL INSTITUTION
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul Jacobson Chair | OfficerTrustee | 1 | $0 |
Joan Molenaar Vice Chair | OfficerTrustee | 1 | $0 |
Bill Hnath Treasurer | OfficerTrustee | 1 | $0 |
John Jacobs Secretary | OfficerTrustee | 1 | $0 |
Pam Stegora Axberg Director | Trustee | 1 | $0 |
Kelly Breit Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
La Macchia Group Building Construction | 12/30/23 | $4,459,813 |
Nusource Financial Cash Handler Purchaes And Maintenance | 12/30/23 | $628,127 |
Fiserv Data Processing Hardware & Software | 12/30/23 | $596,315 |
Alkami Technology Data Processing Hardware & Software | 12/30/23 | $556,694 |
Convergint Technologies Llc Systems Integration | 12/30/23 | $187,474 |
View All Vendors
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $40,907,024 |
| Investment income | $1,455,997 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $42,876,775 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $7,714,729 |
| Compensation of current officers, directors, key employees. | $820,857 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $9,901,308 |
| Pension plan accruals and contributions | $400,374 |
| Other employee benefits | $1,069,237 |
| Payroll taxes | $734,122 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $117,849 |
| Fees for services: Accounting | $153,348 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,885,405 |
| Advertising and promotion | $917,152 |
| Office expenses | $2,268,234 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,019,537 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $378,426 |
| Interest | $2,602,030 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $927,985 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $35,743,645 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,125,822 |
| Savings and temporary cash investments | $13,625,547 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $23,092 |
| Loans from Officers, Directors, or Controlling Persons | $5,391,025 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $699,287,890 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,164,325 |
| Net Land, buildings, and equipment | $13,080,831 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $35,541,881 |
| Intangible assets | $792,469 |
| Other assets | $25,291,066 |
| Total assets | $801,323,948 |
| Accounts payable and accrued expenses | $25,389,850 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $59,169,790 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $647,957,694 |
| Total liabilities | $732,517,334 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $68,806,614 |
| Total liabilities and net assets/fund balances | $801,323,948 |