First Pace Credit Union
- Assets
- $11.0m
- Revenue
- $388.1k
- Investments
- $2.8m
- Employees
- 3
- Location
- West St Paul, MN
- Founding
- 09/1944
- Data as of
- 12/2022
- EIN
- 41-0874898
Organization Overview
First Pace Credit Union is located in West St Paul, MN. The organization was established in 1944. According to its NTEE Classification (G54) the organization is classified as: Epilepsy, under the broad grouping of Voluntary Health Associations & Medical Disciplines and related organizations. As of 12/2022, First Pace Credit Union employed 3 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. First Pace 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, First Pace Credit Union generated $388.1k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.3% each year. All expenses for the organization totaled $399.2k during the year ending 12/2022. While expenses have increased by 1.4% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE SAVINGS, LOANS AND OTHER FINANCIAL SERVICES TO MEMBERS AT TERMS GENERALLY BETTER THAN AVAILABLE IN THE MARKETPLACE AND WITH A "SERVICE-BASED EMPHASIS" THAT RECOGNIZES THE MEMBERS AS "OWNERS."
Describe the Organization's Program Activity:
Part 3 - Line 4a
MULTIPLE PRODUCTS OFFERED TO HELP THE MEMBER, WITH REASONABLE TERMS AND COMPETITIVE RATES.
OFFER FREE CHECKING ACCOUNTS WITH A FREE VISA DEBIT CARD TO HELP MEMBERS BECOME FINANCIALLY RESPONSIBLE. ALSO FREE ONLINE/MOBILE BANKING WITH BILL PAY, REMOTE DEPOSIT, PERSON TO PERSON AND ACCOUNT TO ACCOUNT TRANSFERS BETWEEN FINANCIAL INSTITUTIONS. ALSO HAVE FREE ONLINE STATEMENTS. ALL SERVICES OFFERED FOR FREE, TO EMPOWER THE MEMBER WITH TOOLS FOR GOOD MONEY MANAGEMENT.
COMPETITIVE DIVIDENDS PAID ON APPROXIMATELY 1395 SHARE SAVINGS ACCOUNTS, MONEY MARKET ACCOUNTS, CLUB ACCOUNTS AND TERM SHARE CERTIFICATES, TO HELP OUR 1004 MEMBERS SAVE FOR THE FUTURE. FREE ONLINE AND MOBILE BANKING AND ELECTRONIC STATEMENTS FOR THE MEMBERS TO HELP MONITOR THEIR FINANCES.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jennifer Tiedman President | Officer | 33 | $65,188 |
Brian Ecker Chair | Trustee | 0.5 | $0 |
Mike Popek Board Member | Trustee | 0.5 | $0 |
Quinton Vorhies Treasurer | Trustee | 0.5 | $0 |
Dan Gerten Vice Chair | Trustee | 0.5 | $0 |
Ray Kobler Secretary | Trustee | 0.5 | $0 |
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 | $336,699 |
| Investment income | $51,402 |
| 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 | $388,101 |
| 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 | $19,467 |
| Compensation of current officers, directors, key employees. | $74,641 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $75,124 |
| Pension plan accruals and contributions | $5,426 |
| Other employee benefits | $11,491 |
| Payroll taxes | $12,109 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $5,063 |
| Office expenses | $107,062 |
| Information technology | $39,457 |
| Royalties | $0 |
| Occupancy | $20,687 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $12,377 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $643 |
| Insurance | $11,734 |
| All other expenses | $0 |
| Total functional expenses | $399,196 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $19,819 |
| Savings and temporary cash investments | $66,420 |
| 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 | $5,733,828 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $13,473 |
| Net Land, buildings, and equipment | $129 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $2,848,000 |
| Investments—program-related | $2,097,890 |
| Intangible assets | $0 |
| Other assets | $223,096 |
| Total assets | $11,002,655 |
| Accounts payable and accrued expenses | $13,979 |
| 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 | $9,093,748 |
| Total liabilities | $9,107,727 |
| 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 | $1,894,928 |
| Total liabilities and net assets/fund balances | $11,002,655 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Volunteers Of America Inc Eden Prairie, MN | $9,099,953 | $36,157,650 |
Volunteers Of America Inc Eden Prairie, MN | $4,063,127 | $8,985,752 |
Epilepsy Foundation Of Minnesota Inc St Paul, MN | $4,704,963 | $1,869,642 |
First Pace Credit Union West St Paul, MN | $11,002,655 | $388,101 |
Epilepsy Foundation Of Wisconsin Inc Stevens Point, WI | $167,277 | $202,970 |
Epilepsy Foundation Of Western Wisconsin Inc Eau Claire, WI | $13,302 | $0 |
Epilepsy Families Southeast Wisconsin Inc Milwaukee, WI | $202,195 | $0 |
Road Runners Club Of America Menasha, WI | $12,116 | $20,977 |