Duluth Fire Department Credit Union
- Assets
- $6.5m
- Revenue
- $172.5k
- Investments
- $0.0
- Employees
- 5
- Location
- Duluth, MN
- Founding
- 09/1944
- Data as of
- 12/2021
- EIN
- 41-0226128
Organization Overview
Duluth Fire Department Credit Union is located in Duluth, MN. The organization was established in 1944. According to its NTEE Classification (M24) the organization is classified as: Fire Prevention, under the broad grouping of Public Safety, Disaster Preparedness & Relief and related organizations. As of 12/2021, Duluth Fire Department Credit Union employed 5 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Duluth Fire Department 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, Duluth Fire Department Credit Union generated $172.5k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 4.9% each year. All expenses for the organization totaled $139.1k during the year ending 12/2021. While expenses have increased by 3.8% per year over the past 6 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
CREDIT UNION - SAVINGS AND VEHICLE LOANS
Describe the Organization's Program Activity:
Part 3 - Line 4a
SALARY EXPENSE - THE CREDIT UNION EMPLOYEES SERVE OUR MEMBERS WELL.
DIVIDEND EXPENSE - THE CREDIT UNION HAS COMPETITIVE RATES ON DEPOSITS FOR MEMBERS.
BOND & INSURANCE - NECESSARY FOR THE CREDIT UNION TO OPERATE.
FUNCTIONAL EXPENSES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tim J Aune Manager | Officer | 30 | $21,990 |
Chad Cooke President | OfficerTrustee | 0 | $0 |
Richard Grondahl Vice President | OfficerTrustee | 0 | $0 |
Carla Gamradt Director | Trustee | 0 | $0 |
Katie Sandstrom Director | Trustee | 0 | $0 |
Sandra Mccomb Director | Trustee | 0 | $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 | $111,240 |
| Investment income | $61,222 |
| 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 | $172,462 |
| 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 | $39,962 |
| Compensation of current officers, directors, key employees. | $21,990 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $37,525 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $4,879 |
| 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 | $903 |
| Office expenses | $6,072 |
| Information technology | $2,921 |
| Royalties | $0 |
| Occupancy | $162 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,350 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $5,564 |
| All other expenses | $0 |
| Total functional expenses | $139,139 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,972,395 |
| Savings and temporary cash investments | $2,025,706 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $90,248 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,327,476 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $45,372 |
| Total assets | $6,461,197 |
| Accounts payable and accrued expenses | $5,333,954 |
| 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 | $188,888 |
| Total liabilities | $5,522,842 |
| 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 | $938,355 |
| Total liabilities and net assets/fund balances | $6,461,197 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Bloomington Fire Dept Relief Assoc Bloomington, MN | $232,958,122 | $17,691,264 |
Spring Lake Park Fire Dept Inc Spring Lake Park, MN | $1,043,343 | $3,348,790 |
Maple Grove Firemens Relief Association Maple Grove, MN | $20,091,151 | $3,472,743 |
Lake Johanna Volunteer Fire Department Shoreview, MN | $5,386,544 | $3,059,264 |
Sun Prairie Fire & Rescue Company Sun Prairie, WI | $322,315 | $2,382,259 |
Eden Prairie Fire Fighters Relief Association Eden Prairie, MN | $26,356,144 | $1,042,441 |
Elk River Fire & Ambulance Service Elk River, MN | $1,085,031 | $2,381,867 |
Dover Firemans Relief Association Dover, MN | $766,350 | $1,633,588 |
Mckenzie County Ambulance Service Watford City, ND | $4,725,113 | $1,535,302 |
Eagan Volunteer Firemans Relief Association Eagan, MN | $11,232,705 | $384,512 |
Tess Corners Volunteer Fire Dept Muskego, WI | $2,146,961 | $1,520,539 |
Andover Firefighters Relief Association Andover, MN | $4,006,740 | $315,386 |