Upper Midwest Automated Clearing House Association Inc
- Assets
- $1.8m
- Revenue
- $2.2m
- Investments
- $0.0
- Employees
- 16
- Location
- Brooklyn Park, MN
- Founding
- 08/1980
- Data as of
- 12/2021
- EIN
- 41-1380160
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.
Form
990
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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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Angi Farren President/ceo | Officer | 40 | $194,983 |
Jennifer Miller Senior Director Of Service | 40 | $157,907 | |
Danyell Pozorski Senior Director Of Operations & Membership | 40 | $110,079 | |
Chris Germann Vice Chair | OfficerTrustee | 2 | $0 |
Dennis Feterl Board Chair | OfficerTrustee | 2 | $0 |
Vikram Israni Treasurer | OfficerTrustee | 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 | $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 |
| 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 | $0 |
| Compensation of current officers, directors, key employees. | $250,331 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $978,444 |
| Pension plan accruals and contributions | $72,870 |
| Other employee benefits | $128,929 |
| Payroll taxes | $87,808 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $41,013 |
| 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 | $10,297 |
| Office expenses | $134,479 |
| Information technology | $62,010 |
| Royalties | $0 |
| Occupancy | $87,525 |
| Travel | $3,756 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $122,672 |
| Interest | $750 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $33,055 |
| Insurance | $16,490 |
| All other expenses | $11,023 |
| Total functional expenses | $2,218,325 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $208,380 |
| Savings and temporary cash investments | $1,365,670 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $101,833 |
| 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 | $45,660 |
| Net Land, buildings, and equipment | $57,938 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,779,481 |
| Accounts payable and accrued expenses | $26,745 |
| Grants payable | $0 |
| Deferred revenue | $29,196 |
| 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 | $21,259 |
| Other liabilities | $0 |
| Total liabilities | $77,200 |
| Net assets without donor restrictions | $1,702,281 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $1,779,481 |
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