Civic Intelligence

Madison Fire Department Credit Union

EIN 39-6050254 • 501(c)14 • Madison, WI

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Profile

Per our by-layws, we encourage thrift amoung our members, to create a source of credit at a fair and reasonable cost, and to provide an opportunity for each of our members to improve their respective economic and social conditions.

1437 Monroe StreetMadison, WI 53711

mfdcu.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

31st percentile

0.80x

Higher debt load relative to assets than 31% of similar nonprofits.

501(c)14 • $5M-$10M nonprofits • Source year 2025

Liabilities / Revenue

55th percentile

15.67x

Higher debt load relative to revenue than 55% of similar nonprofits.

501(c)14 • $5M-$10M nonprofits • Source year 2025

Net Margin

90th percentile

22%

Higher net margin than 90% of similar nonprofits.

501(c)14 • $5M-$10M nonprofits • Source year 2025

Top Officer Pay

40th percentile

$51,737

Higher top officer pay than 40% of similar nonprofits.

Top officer pay equals 19.0% of source-year revenue.

501(c)14 • $5M-$10M nonprofits • Source year 2025

Asset Growth

81st percentile

4.0%

Faster asset growth than 81% of similar nonprofits.

501(c)14 • $5M-$10M nonprofits • Annualized from 2024 to 2025

Revenue Growth

59th percentile

8.9%

Faster revenue growth than 59% of similar nonprofits.

501(c)14 • $5M-$10M nonprofits • Annualized from 2024 to 2025

Balance Sheet
Liabilities / Assets31st percentile

Assets

Up

$5,118,229

Up $27,006 (+0.5%) from 2023

Liabilities

Down

$4,125,159

Down $30,042 (-0.7%) from 2023

Net Assets

Up

$993,070

Up $57,048 (+6.1%) from 2023

Operations
Liabilities / Revenue55th percentileNet Margin90th percentile

Revenue

Up

$250,233

Up $34,745 (+16%) from 2023

Expenses

Up

$193,185

Up $41,497 (+27%) from 2023

Net Income

Down

$57,048

Down $6,752 (-11%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth81st percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$6.0M$4.0M$2.0M$0Assets 2010: $3,413,680Liabilities 2010: $2,842,454Net Assets 2010: $571,2262010Assets 2011: $3,577,554Liabilities 2011: $2,997,019Net Assets 2011: $580,5352011Assets 2012: $3,751,840Liabilities 2012: $3,164,798Net Assets 2012: $587,0422012Assets 2013: $3,544,240Liabilities 2013: $2,958,610Net Assets 2013: $585,6302013Assets 2014: $3,500,047Liabilities 2014: $2,920,468Net Assets 2014: $579,5792014Assets 2015: $3,695,535Liabilities 2015: $3,111,635Net Assets 2015: $583,9002015Assets 2016: $3,327,261Liabilities 2016: $2,726,734Net Assets 2016: $600,5272016Assets 2017: $3,398,979Liabilities 2017: $2,763,577Net Assets 2017: $635,4022017Assets 2018: $3,391,943Liabilities 2018: $2,707,123Net Assets 2018: $684,8202018Assets 2019: $3,916,782Liabilities 2019: $3,193,659Net Assets 2019: $723,1232019Assets 2020: $4,239,314Liabilities 2020: $3,467,200Net Assets 2020: $772,1142020Assets 2021: $4,858,169Liabilities 2021: $4,040,659Net Assets 2021: $817,5102021Assets 2022: $4,920,106Liabilities 2022: $4,047,884Net Assets 2022: $872,2222022Assets 2023: $5,091,223Liabilities 2023: $4,155,201Net Assets 2023: $936,0222023Assets 2024: $5,118,229Liabilities 2024: $4,125,159Net Assets 2024: $993,0702024

Highlighted filing

2024

Assets$5,118,229
Liabilities$4,125,159
Net Assets$993,070
Open 2024 Filing

Operations Trend

Revenue Growth59th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$300K$200K$100K$0-$100KExpenses 2010: $141,1732010Expenses 2011: $126,3532011Revenue 2012: $122,359Expenses 2012: $115,852Net Income 2012: $6,5072012Revenue 2013: $110,343Expenses 2013: $111,755Net Income 2013: -$1,4122013Revenue 2014: $109,960Expenses 2014: $116,011Net Income 2014: -$6,0512014Revenue 2015: $108,156Expenses 2015: $103,835Net Income 2015: $4,3212015Revenue 2016: $108,985Expenses 2016: $92,358Net Income 2016: $16,6272016Revenue 2017: $122,993Expenses 2017: $88,118Net Income 2017: $34,8752017Revenue 2018: $140,315Expenses 2018: $90,897Net Income 2018: $49,4182018Revenue 2019: $161,138Expenses 2019: $122,835Net Income 2019: $38,3032019Revenue 2020: $165,409Expenses 2020: $116,418Net Income 2020: $48,9912020Revenue 2021: $155,760Expenses 2021: $110,364Net Income 2021: $45,3962021Revenue 2022: $161,832Expenses 2022: $107,120Net Income 2022: $54,7122022Revenue 2023: $215,488Expenses 2023: $151,688Net Income 2023: $63,8002023Revenue 2024: $250,233Expenses 2024: $193,185Net Income 2024: $57,0482024

Highlighted filing

2024

Revenue$250,233
Expenses$193,185
Net Income$57,048
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$5,118,229
Liabilities
$4,125,159
Net assets
$993,070
Revenue
$250,233
Expenses
$193,185
Net income
$57,048
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$5.12$4.13$0.99$0.25$0.19$0.06
2023Detailed filing. Detailed filing data is available for this year.$5.09$4.16$0.94$0.22$0.15$0.06
2022Detailed filing. Detailed filing data is available for this year.$4.92$4.05$0.87$0.16$0.11$0.05
2021Detailed filing. Detailed filing data is available for this year.$4.86$4.04$0.82$0.16$0.11$0.05
2020Detailed filing. Detailed filing data is available for this year.$4.24$3.47$0.77$0.17$0.12$0.05
2019Detailed filing. Detailed filing data is available for this year.$3.92$3.19$0.72$0.16$0.12$0.04
2018Detailed filing. Detailed filing data is available for this year.$3.39$2.71$0.68$0.14$0.09$0.05
2017Detailed filing. Detailed filing data is available for this year.$3.40$2.76$0.64$0.12$0.09$0.03
2016Detailed filing. Detailed filing data is available for this year.$3.33$2.73$0.60$0.11$0.09$0.02
2015Detailed filing. Detailed filing data is available for this year.$3.70$3.11$0.58$0.11$0.10$0.00
2014Detailed filing. Detailed filing data is available for this year.$3.50$2.92$0.58$0.11$0.12$0.01
2013Detailed filing. Detailed filing data is available for this year.$3.54$2.96$0.59$0.11$0.11$0.00
2012Summary only. Only limited summary data is available for this year.$3.75$3.16$0.59$0.12$0.12$0.01
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.58$3.00$0.58$0.13
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.41$2.84$0.57$0.14
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Apr 8, 2025
Return Version
2024v5.0
Gross Receipts
$250,233
Mission and Program Overview

Mission

We are committed to providing its members sound and dependable financial service, an environment where members can interact with mutual trust, respect and dignity by creating a sense of pride and ownership. The credit union will provide loans in a prudent, sound and discreet manner in accordance with the written policy. All members will receive a fair and competitive return on their investments, while we maintain the financial stability of the credit union.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$4,491,780$3,981,699▼ $510,081
Savings and Temporary Cash Investments$518,092$1,053,146▲ $535,054
Rtn Earn Endowment Incm Other Fnds$936,022$993,070▲ $57,048
Investments Program Related$36,901$38,184▲ $1,283
Prepaid Expenses and Deferred Charges$3,404$3,447▲ $43
Land, Buildings, and Equipment, Net$673$337▼ $336
Total Assets$5,091,223$5,118,229▲ $27,006
Other Assets Total$40,373$41,416▲ $1,043
Liabilities
Other Liabilities$4,141,605$4,115,190▼ $26,415
Accounts Payable and Accrued Expenses$13,596$9,969▼ $3,627
Total Liabilities$4,155,201$4,125,159▼ $30,042
Net Assets / Fund Balance
Total Net Assets Fund Balance$936,022$993,070▲ $57,048
Total Liabilities and Net Assets / Fund Balance$5,091,223$5,118,229▲ $27,006

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$337$56,358$56,695
Compensation and Service Providers
Top Officer Pay40th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Stephen KriegerPresidentPT$46,546$3,724$50,270

Board Members and Trustees

NameTitle
Lawrence GrabChairman
Phillip RuscettiVice Chair
Kevin SheryDirector
Nathan FrankeSecretary
Joseph SeifertTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$228,855
Investment Income
$20,732
Other Revenue
$646
Change in Net Assets
$57,048
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$130,298
Salaries, Compensation, and Employee Benefits$62,887
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees---$46,546
Information Technology---$13,304
Office Expenses---$11,969
Other Salaries and Wages---$7,781
Insurance---$4,624
Pension Plan Contributions---$4,346
Fees for Services Accounting---$4,283
Payroll Taxes---$4,214
Conferences and Meetings---$850
Advertising---$490
Depreciation Depletion---$336
Fees for Services Legal---$75
Other Expenses---$-622
Total Functional Expenses$0$0$0$193,185
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Member Shares & Deposits$4,115,190
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 6

“The organization has members. To be a member one must have a share (savings) account at the credit union.”

Form 990, Page 6, Part VI, Line 7A

“The board of directors is elected by the credit union members. Each member has one vote.”

Form 990, Page 6, Part VI, Line 7B

“A member vote is required for decisions which are beyond the authority of the board of directors. Items which require a membership vote are outlined and specified in our bylaws. Each member has one vote.”

Form 990, Page 6, Part VI, Line 11B

“Management provides necessary data to independent cpa who completes the return. Management reviews the return for accuracy, and then authorizes the cpa to e-file the approved return. Management reviews the return with the directors at their next board meeting.”

Form 990, Page 6, Part VI, Line 12C

“Board members annually signs code of conduct document stating they have no conflicts of interest.”

Form 990, Page 6, Part VI, Line 15A

“The board of directors determines and approves the compensation for the president. This is noted in the board minutes.”

Form 990, Page 6, Part VI, Line 19

“Governing documents, conflict of interest policy, and financial statements are available to members upon request.”

Filing and Contact Details

Filer

Filer Name
Madison Fire Department Credit
EIN
39-6050254
Phone
6082664952
Address
1437 MONROE STREET, MADISON, WI 53711

Signing Officer

Name
Stephen Krieger
Title
President
Phone
6082664952
Signed
2025-04-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Stephen Krieger
Formed
1931
Legal Domicile
Wi
Voting Board Members
5
Independent Board Members
5
Employees
2
Volunteers
5

Preparer

Firm
Brent Wookey CPA
Address
PO BOX 1512, LA CROSSE, WI 54602-1512
Preparer
Brent Wookey CPA
Phone
6087920843
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“We are committed to providing its members sound and dependable financial service, an environment where members can interact with mutual trust, respect and dignity by creating a sense of pride and ownership. The credit union will provide loans in a prudent, sound and discreet manner in accordance with the written policy. All members will receive a fair and competitive return on their investments, while we maintain the financial stability of the credit union.”

Raw XML Appendix312 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/ReportLandBuildingEquipmentInd0true
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IRS990/ReportOtherLiabilitiesInd0true
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IRS990/RoyaltiesRevenueGrp/ExclusionAmt0646
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt0646
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt0936022
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0993070
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IRS990ScheduleD/EquipmentGrp/BookValueAmt0337
IRS990ScheduleD/EquipmentGrp/DepreciationAmt056358
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt056695
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt04115190
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0MEMBER SHARES & DEPOSITS
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0337
IRS990ScheduleD/TotalLiabilityAmt04115190
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0WE ARE COMMITTED TO PROVIDING ITS MEMBERS SOUND AND DEPENDABLE FINANCIAL SERVICE, AN ENVIRONMENT WHERE MEMBERS CAN INTERACT WITH MUTUAL TRUST, RESPECT AND DIGNITY BY CREATING A SENSE OF PRIDE AND OWNERSHIP. THE CREDIT UNION WILL PROVIDE LOANS IN A PRUDENT, SOUND AND DISCREET MANNER IN ACCORDANCE WITH THE WRITTEN POLICY. ALL MEMBERS WILL RECEIVE A FAIR AND COMPETITIVE RETURN ON THEIR INVESTMENTS, WHILE WE MAINTAIN THE FINANCIAL STABILITY OF THE CREDIT UNION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION HAS MEMBERS. TO BE A MEMBER ONE MUST HAVE A SHARE (SAVINGS) ACCOUNT AT THE CREDIT UNION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD OF DIRECTORS IS ELECTED BY THE CREDIT UNION MEMBERS. EACH MEMBER HAS ONE VOTE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3A MEMBER VOTE IS REQUIRED FOR DECISIONS WHICH ARE BEYOND THE AUTHORITY OF THE BOARD OF DIRECTORS. ITEMS WHICH REQUIRE A MEMBERSHIP VOTE ARE OUTLINED AND SPECIFIED IN OUR BYLAWS. EACH MEMBER HAS ONE VOTE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4MANAGEMENT PROVIDES NECESSARY DATA TO INDEPENDENT CPA WHO COMPLETES THE RETURN. MANAGEMENT REVIEWS THE RETURN FOR ACCURACY, AND THEN AUTHORIZES THE CPA TO E-FILE THE APPROVED RETURN. MANAGEMENT REVIEWS THE RETURN WITH THE DIRECTORS AT THEIR NEXT BOARD MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5BOARD MEMBERS ANNUALLY SIGNS CODE OF CONDUCT DOCUMENT STATING THEY HAVE NO CONFLICTS OF INTEREST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE BOARD OF DIRECTORS DETERMINES AND APPROVES THE COMPENSATION FOR THE PRESIDENT. THIS IS NOTED IN THE BOARD MINUTES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO MEMBERS UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/TerminateOperationsInd0false
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IRS990/TotalGrossUBIAmt00
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IRS990/TotalLiabilitiesEOYAmt04125159
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IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0993070
IRS990/TotalOtherCompensationAmt03724
IRS990/TotalProgramServiceRevenueAmt0228855
IRS990/TotalReportableCompFromOrgAmt046546
IRS990/TotalRevenueGrp/ExclusionAmt021378
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0228855
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0250233
IRS990/TotalVolunteersCnt05
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt05091223
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IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01437 MONROE ST
IRS990/USAddress/CityNm0MADISON
IRS990/USAddress/StateAbbreviationCd0WI
IRS990/USAddress/ZIPCd053711
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IRS990/WebsiteAddressTxt0MFDCU.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0STEPHEN KRIEGER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum06082664952
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-04-08
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MADISON FIRE DEPARTMENT CREDIT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0UNION
ReturnHeader/Filer/BusinessNameControlTxt0MADI
ReturnHeader/Filer/EIN0396050254
ReturnHeader/Filer/PhoneNum06082664952
ReturnHeader/Filer/USAddress/AddressLine1Txt01437 MONROE STREET
ReturnHeader/Filer/USAddress/CityNm0MADISON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0WI
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0461065712
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BRENT WOOKEY CPA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 1512
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0LA CROSSE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0WI
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0546021512
ReturnHeader/PreparerPersonGrp/PhoneNum06087920843
ReturnHeader/PreparerPersonGrp/PreparationDt02025-04-17
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0BRENT WOOKEY CPA
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02025-04-17T15:22:09-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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