Pipefitters-Steamfitters Credit Union
- Assets
- $53.3m
- Revenue
- $1.8m
- Investments
- $2.0m
- Employees
- 8
- Location
- Woodbury, MN
- Founding
- 09/1944
- Data as of
- 12/2021
- EIN
- 41-0843373
Organization Overview
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
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Board, Officers & Key Employees
| 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 |
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 | $1,401,223 |
| 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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