Upper Midwest Automated Clearing House Association Inc

Organization Overview

Upper Midwest Automated Clearing House Association Inc, operating under the name Umacha, is located in Brooklyn Park, MN. The organization was established in 1980. According to its NTEE Classification (L99) the organization is classified as: Housing & Shelter N.E.C., under the broad grouping of Housing & Shelter and related organizations. As of 12/2021, Umacha employed 16 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Umacha is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.

For the year ending 12/2021, Umacha generated $2.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.2% each year. All expenses for the organization totaled $2.2m during the year ending 12/2021. While expenses have increased by 2.1% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

SUPPORT MEMBERS AND STAKEHOLDERS USING ELECTRONIC PAYMENTS THROUGH EDUCATION, COMPLIANCE, AND OTHER.

Describe the Organization's Program Activity:

Part 3 - Line 4a

UMACHA PROVIDES EDUCATIONAL WORKSHOPS, WEBINARS, SYMPOSIUMS, AND CONFERENCES TO MEMBERS AND OTHER STAKEHOLDERS ON ELECTRONIC PAYMENTS WITH A FOCUS ON THE ACH NETWORK. THE FACE-TO-FACE SESSIONS ARE PRIMARILY IN THE 9TH FEDERAL RESERVE DISTRICT, WHILE THE WEBINARS ARE OPEN TO ANY BUSINESS INTERESTED IN THE SUBJECT MATTER.THE ORGANIZATION PARTICIPATED IN 147 CONFERENCES, SEMINARS AND WEBINARS DURING 2021.


UMACHA OFFERS PUBLICATIONS AND EDUCATIONAL MATERIALS TO ASSIST MEMBER AND NON-MEMBER ORGANIZATIONS IN THE AREAS OF ACH AND ELECTRONIC PAYMENTS.THE ORGANIZATION SOLD A TOTAL OF 4,637 PUBLICATIONS DURING 2021.


UMACHA PERFORMS AUDITS OF COMPLIANCE WITH THE ACH RULES AND RISK ASSESSMENTS IN THE AREAS OF ACH AND REMOTE DEPOSIT CAPTURE TO ASSIST OUR MEMBERS WHEN IT COMES TO COMPLIANCE WITH BOTH CURRENT RULES AND BANKING REGULATIONS.THE ORGANIZATION WAS INVOLVED IN 224 AUDITS AND 75 RISK ASSESSMENTS DURING 2021.


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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$2,198,053
Investment income $5,227
Tax Exempt Bond Proceeds $0
Royalties $9,418
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 $2,212,998

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