Blaze Credit Union
- Assets
- $2.1b
- Revenue
- $89.5m
- Investments
- $246.0m
- Employees
- 488
- Location
- Falcon Heights, MN
- Founding
- 09/1944
- Data as of
- 12/2022
- EIN
- 41-0585825
Organization Overview
Blaze Credit Union is located in Falcon Heights, MN. The organization was established in 1944. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Blaze Credit Union employed 488 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Blaze 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 12/2022, Blaze Credit Union generated $89.5m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 12.4% each year . All expenses for the organization totaled $73.4m during the year ending 12/2022. While expenses have increased by 11.1% 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.
Since 2020, Blaze Credit Union has awarded 40 individual grants totaling $578,259. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO IMPROVE THE FINANCIAL WELL BEING OF OUR MEMBER-OWNERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING SAVINGS DEPOSIT SERVICES, CHECKING ACCOUNTS, ORIGINATING NEW LOANS, AND SERVICING THE LOAN PORTFOLIO FOR MEMBERS.
DIVIDENDS PAID TO MEMBERS ON 316,346 DEPOSIT ACCOUNTS HELD BY 154,549 MEMBERS TOTALING $5,748,687.
RECORDING MEMBER ACCOUNT ACTIVITY AND PROVIDING MEMBERS ACCESS TO THEIR ACCOUNTS VIA HOME BANKING, ATM NETWORKS, AND IN PERSON AT THE CU OFFICE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dan Stoltz CEO | OfficerTrustee | 40 | $1,384,767 |
Tom Heinzen Chair | OfficerTrustee | 1 | $0 |
Lynn Kothe Vice Chair | OfficerTrustee | 1 | $0 |
Bob Oehrlein Secretary/treasurer | OfficerTrustee | 1 | $0 |
Lee Brucker Director | Trustee | 1 | $0 |
Carl Anderson Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Greiner Construction Construction-buildings | 12/30/22 | $9,277,994 |
Alkami Technology Inc Data Processing Products And Testing | 12/30/22 | $1,623,471 |
Media Bridge Advertising | 12/30/22 | $1,272,190 |
Case And Associates Cash Machines Products And Services | 12/30/22 | $830,087 |
Jack Henry And Associates Inc Computer Systems Software/hardware And M | 12/30/22 | $1,158,714 |
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 | $84,256,860 |
| Investment income | $4,516,026 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $714,543 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $89,487,429 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $229,310 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $5,748,687 |
| Compensation of current officers, directors, key employees. | $5,137,909 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $19,369,786 |
| Pension plan accruals and contributions | $3,557,349 |
| Other employee benefits | $2,044,472 |
| Payroll taxes | $1,969,989 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $235,560 |
| Fees for services: Accounting | $332,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $9,879,849 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $3,460,659 |
| Travel | $411,889 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $126,508 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,542,695 |
| Insurance | $1,647 |
| All other expenses | $1,271,541 |
| Total functional expenses | $73,419,128 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $19,479,269 |
| Savings and temporary cash investments | $24,310,332 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,827,973 |
| Loans from Officers, Directors, or Controlling Persons | $9,162,524 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,524,594,323 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $2,180,865 |
| Net Land, buildings, and equipment | $71,166,227 |
| Investments—publicly traded securities | $169,933,647 |
| Investments—other securities | $246,038,789 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $50,328,692 |
| Total assets | $2,119,022,641 |
| Accounts payable and accrued expenses | $18,856,605 |
| 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 | $1,949,976,389 |
| Total liabilities | $1,968,832,994 |
| 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 | $150,189,647 |
| Total liabilities and net assets/fund balances | $2,119,022,641 |
Grants Awarded
Over the last fiscal year, Blaze Credit Union has awarded $184,310 in support to 14 organizations.
| Grant Recipient | Amount |
|---|---|
BESTPREP PURPOSE: EVENT SPONSORSHIPS | $6,100 |
COMO FRIENDS PURPOSE: DONATION | $31,200 |
HIGHLAND FRIENDSHIP CLUB PURPOSE: EVENT SPONSORSHIP/DONATION | $6,500 |
THE FRIENDS OF THE ST PAUL LIBRARY PURPOSE: EVENT SPONSORSHIP/DONATION | $16,000 |
HUNGER RELATED EVENTS PURPOSE: EVENT SPONSORSHIP | $6,000 |
OPPORTUNITY PARTNERS PURPOSE: EVENT SPONSORSHIP/DONATION | $6,000 |