Credit Union Association Of The Dakotas
- Assets
- $3.7m
- Revenue
- $1.2m
- Investments
- $894.3k
- Employees
- 0
- Location
- Bismarck, ND
- Founding
- Data as of
- 12/2021
- EIN
- 20-4608169
Organization Overview
Credit Union Association Of The Dakotas, operating under the name Dakota Credit Union Association, is located in Bismarck, ND. Dakota Credit Union Association 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, Dakota Credit Union Association generated $1.2m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.1%) each year. All expenses for the organization totaled $1.1m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (1.8%) per year over the past 7 years. 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
THE ASSOCIATION WORKS TO PROMOTE MEMBER CREDIT UNIONS AS BEING SAFE AND SOUND INSTITUTIONS FOR INSURED DEPOSITS, RESPONSIBLE LENDING, AND THE BEST PLACE FOR CONSUMERS TO RECEIVE FINANCIAL SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE SERVICES TO MEMBER CREDIT UNIONS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeff Olson President/ CEO | Officer | 32 | $147,375 |
Karla Clark Cfo/ VP Of Operations | Officer | 20 | $44,088 |
Sean Rinkenberger Second Vice Chair | OfficerTrustee | 1 | $0 |
Lacy Terwee Secretary/ Treasurer | OfficerTrustee | 1 | $0 |
Jarrod Reisner Chair | OfficerTrustee | 1 | $0 |
Melanie Stillwell First Vice Chair | OfficerTrustee | 1 | $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 | $1,168,392 |
| Investment income | $20,588 |
| 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 | $1,188,980 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,362 |
| 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. | $219,982 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $329,405 |
| Pension plan accruals and contributions | $16,844 |
| Other employee benefits | $59,097 |
| Payroll taxes | $51,800 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $250 |
| Fees for services: Accounting | $10,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $27,167 |
| Office expenses | $31,710 |
| Information technology | $21,001 |
| Royalties | $0 |
| Occupancy | $29,001 |
| Travel | $24,446 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $146,153 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $36,132 |
| Insurance | $17,184 |
| All other expenses | $0 |
| Total functional expenses | $1,132,377 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,933,778 |
| Savings and temporary cash investments | $835,128 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $10,398 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $41,951 |
| Net Land, buildings, and equipment | $33,351 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $894,299 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,748,905 |
| Accounts payable and accrued expenses | $100,366 |
| Grants payable | $0 |
| Deferred revenue | $49,061 |
| 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 | $0 |
| Total liabilities | $149,427 |
| Net assets without donor restrictions | $3,575,780 |
| Net assets with donor restrictions | $23,698 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $3,748,905 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Credit Union Association Of The Dakotas has recieved totaling $82,833.
| Awarding Organization | Amount |
|---|---|
National Credit Union Foundation Inc Madison, WI PURPOSE: DAKOTAS DESIGNATED FUND | $82,833 |
Endowment Analysis
| Beg. Balance | $23,863 |
| Earnings | $85 |
| Other Expense | $250 |
| Ending Balance | $23,698 |
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|---|---|---|
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Dow Rummel Village Sioux Falls, SD | $76,421,386 | $18,523,416 |
Nebraska Student Loan Program Inc Lincoln, NE | $230,624,169 | $45,453,979 |
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United Electric Co-Op Inc Heyburn, ID | $23,389,299 | $19,882,483 |
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St Francis Medical Center Breckenridge, MN | $127,422,671 | $26,046,876 |
Family Healthcare Center Fargo, ND | $19,243,943 | $21,017,567 |
Wayzata Bay Senior Housing Inc Roseville, MN | $167,500,836 | $19,706,381 |
Tri-County Communications Cooperative Inc Strum, WI | $52,913,250 | $19,988,134 |
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