Northern States Power-St Paul Credit Union
- Assets
- $42.7m
- Revenue
- $2.0m
- Investments
- $0.0
- Employees
- 9
- Location
- Maplewood, MN
- Founding
- 09/1944
- Data as of
- 12/2023
- EIN
- 41-0448160
Organization Overview
Northern States Power-St Paul Credit Union is located in Maplewood, MN. The organization was established in 1944. 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, Northern States Power-St Paul Credit Union employed 9 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Northern States Power-St Paul Credit Union is a 501(c)(14) and as such, is described as a "State Chartered Credit Union, Mutual Reserve Fund" by the IRS.
For the year ending 12/2023, Northern States Power-St Paul Credit Union generated $2.0m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.9% each year. All expenses for the organization totaled $2.2m during the year ending 12/2023. While expenses have increased by 3.7% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO EARN OUR MEMBERS' TRUST WITH PERSONALIZED SERVICE AND INTEGRITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CREDIT UNION HAS VARIOUS TYPES OF DEPOSIT ACCOUNTS AVAILABLE FOR OUR MEMBERS. WE OPENED 73 NEW DEPOSIT ACCOUNTS IN 2023. AS OF 12/31/23 WE HAD 2,890 MEMBERS.
THE CREDIT UNION HAS SEVERAL TYPES OF LOAN PROGRAMS AVAILABLE FOR OUR MEMBERS. WE FUNDED 28,112 NEW LOANS DURING 2023. AS OF 12/31/23 WE HAD 114,346 OUTSTANDING LOANS RECEIVABLE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charlie Yenni President/ce | Officer | 50 | $117,618 |
Todd Riebe Treasurer | OfficerTrustee | 1.5 | $2,020 |
Alex Autio Director | Trustee | 0.75 | $893 |
Darren Karnes Director | Trustee | 0.4 | $492 |
Jenny Borgerson Ries Secretary | OfficerTrustee | 0.4 | $465 |
Christine Mcginnis Director | Trustee | 0.3 | $428 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sharetec Core Processor | 12/30/23 | $137,079 |
Fiserv Inc Card Processing | 12/30/23 | $123,857 |
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 | $1,827,256 |
| Investment income | $200,400 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $5,485 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $9,351 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,042,492 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,625 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $122,650 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $369,074 |
| Pension plan accruals and contributions | $58,948 |
| Other employee benefits | $75,124 |
| Payroll taxes | $37,324 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,924 |
| Fees for services: Accounting | $6,065 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $105,143 |
| Advertising and promotion | $58,721 |
| Office expenses | $294,049 |
| Information technology | $137,079 |
| Royalties | $0 |
| Occupancy | $101,575 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,550 |
| Interest | $12,235 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $110,782 |
| Insurance | $14,413 |
| All other expenses | $0 |
| Total functional expenses | $2,159,122 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $144,459 |
| Savings and temporary cash investments | $5,069,369 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $244,179 |
| Loans from Officers, Directors, or Controlling Persons | $1,753,139 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $23,194,651 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $278,574 |
| Net Land, buildings, and equipment | $942,050 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $10,151,140 |
| Intangible assets | $418,404 |
| Other assets | $472,713 |
| Total assets | $42,668,678 |
| Accounts payable and accrued expenses | $912,830 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $34,434,345 |
| Total liabilities | $35,347,175 |
| 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 | $7,321,503 |
| Total liabilities and net assets/fund balances | $42,668,678 |