Pipefitters-Steamfitters Credit Union is located in Woodbury, 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 12/2021, Pipefitters-Steamfitters Credit Union employed 8 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Pipefitters-Steamfitters 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 12/2021, Pipefitters-Steamfitters Credit Union generated $1.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.8% each year. All expenses for the organization totaled $1.6m during the year ending 12/2021. While expenses have increased by 7.0% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE FINANCIAL SERVICES FOR MEMBERS AND THEIR FAMILIES OF UNION LOCAL 455
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CREDIT UNION PROVIDES FINANCIAL SERVICES TO ITS CLOSED FIELD OF MEMBERSHIP: THE MEMBERS OF LOCAL 455 PIPEFITTERS STEAMFITTERS, AND THEIR FAMILY MEMBERS
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Jennifer Davis President/ceo | Officer | 40 | $118,218 |
Adam Hoen Board Chairman | OfficerTrustee | 2 | $863 |
Ryan Vail Board Member | Trustee | 2 | $650 |
Curtis Johnson Vice Chairman | OfficerTrustee | 2 | $600 |
Mark Slagle Secretary | OfficerTrustee | 0.5 | $0 |
Patrick Moore Board Member | Trustee | 2 | $0 |
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 | $1,401,223 |
Investment income | $208,687 |
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 | $1,752,251 |
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 | $78,422 |
Compensation of current officers, directors, key employees. | $154,384 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $376,949 |
Pension plan accruals and contributions | $10,714 |
Other employee benefits | $98,791 |
Payroll taxes | $40,079 |
Fees for services: Management | $0 |
Fees for services: Legal | $6,037 |
Fees for services: Accounting | $22,829 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $0 |
Advertising and promotion | $3,257 |
Office expenses | $168,989 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $83,967 |
Travel | $24,663 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $82,611 |
Insurance | $0 |
All other expenses | $17,956 |
Total functional expenses | $1,649,330 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $260,604 |
Savings and temporary cash investments | $20,827,799 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $0 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $22,053,643 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $16,535 |
Net Land, buildings, and equipment | $209,186 |
Investments—publicly traded securities | $0 |
Investments—other securities | $1,984,000 |
Investments—program-related | $6,075,500 |
Intangible assets | $0 |
Other assets | $1,831,845 |
Total assets | $53,259,112 |
Accounts payable and accrued expenses | $328,223 |
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 | $47,948,888 |
Total liabilities | $48,277,111 |
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 | $4,982,001 |
Total liabilities and net assets/fund balances | $53,259,112 |
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