Civic Intelligence

Red Wing Credit Union

990 • Fiscal year 2011 • EIN 41-0793629

Jan 01, 2011 to Dec 31, 2011 • Filed on Oct 10, 2012

Organization ProfileWWW.REDWINGCU.COM

View Organization Page

3303 North Service Drive55066
Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

60th percentile

0.90x

Higher debt load relative to assets than 60% of similar nonprofits.

2011 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2011

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on this filing.

Source year 2011

Net Margin

Score unavailable

No value available

Net margin requires both revenue and expenses on this filing.

Source year 2011

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2011

Asset Growth

53rd percentile

5.0%

Faster asset growth than 53% of similar nonprofits.

2011 filings • 501(c)14 • $50M-$100M nonprofits • Annualized from 2010 to 2011

Revenue Growth

Score unavailable

No value available

No valid filing value is available for this score.

Balance Sheet
Liabilities / Assets60th percentile

Assets

Up

$70,389,815

Up $3,368,154 (+5.0%) from 2010

Net Assets

Up

$6,861,757

Up $448,778 (+7.0%) from 2010

Liabilities

Up

$63,528,058

Up $2,919,376 (+4.8%) from 2010

Revenue And Expenses
Liabilities / RevenueScore unavailableNet MarginScore unavailable

Revenue

-

No earlier filing loaded for comparison.

Expenses

Down

$2,253,907

Down $555,022 (-20%) from 2010

Net Income

-

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth53rd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$200M$150M$100M$50M$0Assets 2010: $67,021,661Liabilities 2010: $60,608,682Net Assets 2010: $6,412,9792010Assets 2011: $70,389,815Liabilities 2011: $63,528,058Net Assets 2011: $6,861,7572011Assets 2012: $72,706,771Liabilities 2012: $65,418,715Net Assets 2012: $7,288,0562012Assets 2013: $75,799,710Liabilities 2013: $68,119,535Net Assets 2013: $7,680,1752013Assets 2014: $79,748,511Liabilities 2014: $71,336,595Net Assets 2014: $8,411,9162014Assets 2015: $88,174,834Liabilities 2015: $79,172,574Net Assets 2015: $9,002,2602015Assets 2016: $92,692,754Liabilities 2016: $83,347,778Net Assets 2016: $9,344,9762016Assets 2017: $99,758,496Liabilities 2017: $89,369,704Net Assets 2017: $10,388,7922017Assets 2018: $103,195,228Liabilities 2018: $91,757,440Net Assets 2018: $11,437,7882018Assets 2019: $111,744,170Liabilities 2019: $98,448,539Net Assets 2019: $13,295,6312019Assets 2020: $136,549,819Liabilities 2020: $121,882,478Net Assets 2020: $14,667,3412020Assets 2021: $161,603,708Liabilities 2021: $145,767,519Net Assets 2021: $15,836,1892021Assets 2022: $168,614,210Liabilities 2022: $155,967,684Net Assets 2022: $12,646,5262022Assets 2023: $171,110,209Liabilities 2023: $155,371,877Net Assets 2023: $15,738,3322023Assets 2024: $189,609,527Liabilities 2024: $171,831,569Net Assets 2024: $17,777,9582024

Highlighted filing

2011

Assets$70,389,815
Liabilities$63,528,058
Net Assets$6,861,757
Open 2011 Filing

Operations Trend

Revenue GrowthScore unavailable

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$10M$5.0M$0Expenses 2010: $2,808,9292010Expenses 2011: $2,253,9072011Expenses 2012: $2,145,2742012Revenue 2013: $2,590,560Expenses 2013: $2,138,306Net Income 2013: $452,2542013Revenue 2014: $2,857,075Expenses 2014: $2,255,413Net Income 2014: $601,6622014Revenue 2015: $3,007,118Expenses 2015: $2,400,744Net Income 2015: $606,3742015Revenue 2016: $3,456,468Expenses 2016: $2,628,553Net Income 2016: $827,9152016Revenue 2017: $3,845,911Expenses 2017: $2,930,788Net Income 2017: $915,1232017Revenue 2018: $4,425,477Expenses 2018: $3,130,066Net Income 2018: $1,295,4112018Revenue 2019: $5,016,069Expenses 2019: $3,689,183Net Income 2019: $1,326,8862019Revenue 2020: $5,317,724Expenses 2020: $4,104,954Net Income 2020: $1,212,7702020Revenue 2021: $6,055,194Expenses 2021: $4,259,917Net Income 2021: $1,795,2772021Revenue 2022: $6,740,657Expenses 2022: $4,406,546Net Income 2022: $2,334,1112022Revenue 2023: $7,704,785Expenses 2023: $5,888,288Net Income 2023: $1,816,4972023Revenue 2024: $9,499,093Expenses 2024: $7,428,928Net Income 2024: $2,070,1652024

Highlighted filing

2011

Revenue-
Expenses$2,253,907
Net Income-
Open 2011 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2011 to Dec 31, 2011
Signed
Oct 10, 2012
Return Version
2011v1.2
Gross Receipts
$2,675,685
Mission and Program Overview

Mission

To provide lending, savings, and other financial services to its qualifying members at terms generally better than available in the marketplace and with a "service-based emphasis" that recognizes the members' status as "owner".

Major Activities

Activity 2
The red wing credit union offers savings deposit rates that are gnerally higher than our local competition. We offer both regular and ira certificates of deposit.
Activity 3
The red wing credit union offers various checking accounts that are very competitively priced in our local market. All our fees are lower than the competition. In general, we offer better products at a better price.
Filing and Contact Details

Filer

EIN
41-0793629
Raw XML Appendix372 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/Activity2/Description0THE RED WING CREDIT UNION OFFERS SAVINGS DEPOSIT RATES THAT ARE GNERALLY HIGHER THAN OUR LOCAL COMPETITION. WE OFFER BOTH REGULAR AND IRA CERTIFICATES OF DEPOSIT.
IRS990/Activity3/Description0THE RED WING CREDIT UNION OFFERS VARIOUS CHECKING ACCOUNTS THAT ARE VERY COMPETITIVELY PRICED IN OUR LOCAL MARKET. ALL OUR FEES ARE LOWER THAN THE COMPETITION. IN GENERAL, WE OFFER BETTER PRODUCTS AT A BETTER PRICE.
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IRS990ScheduleD/Form990ScheduleDPartXIV/Explanation0AS ALLOWED BY STATE REGULATORY AUTHORITIES, THE AUDIT IS DONE AS OF MARCH 31. THE REPORTING PERIOD FOR THE AUDIT, THEREFORE, DOES NOT MATCH THE REPORTING PERIOD FOR THE 990. PER FOOTNOTE 1 IN THE CREDIT UNION'S MARCH 31,2011 AUDITED FINANCIAL STATEMENTS, THE CREDIT UNION IS EXEMPT, UNDER IRC SECTION 501(C)(14), FROM FEDERAL AND STATE INCOME TAXES. CERTAIN PRODUCTS AND SERVICES PROVIDED BY SELECT STATE CHARTERED CREDIT UNIONS HAVE BEEN DEEMED BY THE INTERNAL REVENUE SERVICE, IN TECHNICAL ADVICE MEMORANDUMS RELEASED IN 2007, TO BE UNRELATED TO THE SPECIFIC ENTITY'S EXEMPT PURPOSE. AS PRESENTED IN THE TECHNICAL ADVICE MEMORANDUMS THE NET TAXABLE INCOME FROM THESE PRODUCTS AND SERVICES WOULD BE SUBJECT TO INCOME TAXES. CREDIT UNIONS HAVE LITIGATED AGAINST THE IRS POSITIONS NOTED IN THE TAMS AND HAVE BEEN SUCCESSFUL IN HAVING COURTS DECLARE IN 2009 AND 2010 THAT REVENUE FROM INSURANCE PRODUCTS SOLD TO MEMBERS, HELPING THEM PROTECT THEIR FINANCIAL WELLBEING, QUALIFIES AS EXEMPT PURPOSE INCOME, CONTRARY TO THE IRS POSITION IN THE TAMS. THE CREDIT UNION HAS FILED TAX RETURNS IN RECENT YEARS FOR POTENTIAL TAXABLE ACTIVITIES AND HAS A MINOR LOSS CARRYFORWARD AVAILABLE FOR FUTURE YEARS. THE TAXING AUTHORITIES HAVE THE ABILITY TO ASSESS TAXES, PENALTIES AND INTEREST FOR ANY YEARS FOR WHICH NO TAX RETURN IS FILED. IN THE OPINION OF MANAGEMENT, ANY LIABILITY RESULTING FROM TAXING AUTHORITIES IMPOSING INCOME TAXES ON THE NET TAXABLE INCOME FROM ACTIVITIES POTENTIALLY DEEMED TO BE UNRELATED TO THE CREDIT UNION'S EXEMPT PURPOSE IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON THE CREDIT UNION'S FINANCIAL POSITION OR RESULTS OF OPERATIONS. THE CREDIT UNION ADOPTED THE INCOME TAX STANDARD FOR UNCERTAIN TAX POSITIONS ON APRIL 1, 2009. AS A RESULT OF THE IMPLEMENTATION, THE CREDIT UNION EVALUATED ITS TAX POSITIONS AND DETERMINED NO UNCERTAIN TAX POSITIONS EXIST AS OF MARCH 31, 2011 AND 2010. THE CREDIT UNION'S 2007 THROUGH 2010 TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES.
IRS990ScheduleD/Form990ScheduleDPartXIV/Identifier0DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48:
IRS990ScheduleD/Form990ScheduleDPartXIV/ReturnReference0PART X:
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IRS990ScheduleD/InvestmentsProgramRelated/Description0OTHER ASSETS IN CORPORATE CREDIT UNIONS
IRS990ScheduleD/InvestmentsProgramRelated/Description1AVAILABLE FOR SALE SECURITIES
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IRS990ScheduleO/GeneralExplanation/Explanation0A MEMBER OF THE RED WING CREDIT UNION MUST LIVE IN OR DO BUSINESS, ATTEND SCHOOL OR CHURCH IN GOODHUE COUNTY, MINNESOTA, USA. THEY MUST OPEN A SHARE ACCOUNT FOR AT LEAST $25.00. THIS ENTITLES THEM TO ONE VOTE AT THE CREDIT UNION'S ANNUAL BUSINESS MEETING. MEMBERS ARE ENTITLED TO BE PAID DIVIDENDS ON THEIR SAVINGS AT A RATE DETERMINED BY THE BOARD OF DIRECTORS EACH MONTH AT THEIR REGULAR BOARD OF DIRECTORS MEETING. RED WING CREDIT UNION HAS ONE CLASS OF MEMBERSHIP.
IRS990ScheduleO/GeneralExplanation/Explanation1DIRECTORS ARE ELECTED FOR THREE YEAR TERMS BY THE MEMBERSHIP AT THE CREDIT UNION'S ANNUAL BUSINESS MEETING WHICH IS ANNOUNCED IN ADVANCE IN THE CREDIT UNION'S NEWSLETTER AS WELL AS POSTED AT THE CREDIT UNION OFFICE AND ON ITS WEB PAGE.
IRS990ScheduleO/GeneralExplanation/Explanation2PRIOR TO BEING FILED WITH THE IRS, FORM 990 AND RELATED SCHEDULES ARE REVIEWED BY THE BOARD OF DIRECTORS AT A BOARD MEETING.
IRS990ScheduleO/GeneralExplanation/Explanation3BOARD MEMBERS AND OFFICERS ANNUALLY COMPLETE A SURVEY RELATED TO LOANS, BUSINESS RELATIONSHIPS, AND FAMILY MEMBERS THAT COULD OR DO CREATE A CONFLICT OF INTEREST. IF THERE WERE A CONFLICT OF INTEREST, THE CONFLICTED BOARD MEMBER OR OFFICER WOULD BE EXCLUDED FROM DISCUSSIONS AND VOTES RELATED TO THE CONFLICT.
IRS990ScheduleO/GeneralExplanation/Explanation4THE PROCESS USED TO SET THE CEO'S ANNUAL SALARY IS BASED ON A COMBINATION OF COMPARISON TO COMPARABLE SIZED CREDIT UNIONS THROUGH THE USE OF CUNA'S ANNUAL COMPENSATION SURVEY AND THE CURENT YEAR PERFORMANCE EVALUATION. THE PROCESS IS PERFORMED BY THE PERSONNEL COMMITTEE AND PRESENTED TO THE FULL BOARD FOR APPROVAL. THIS PROCESS IS COMPLETED AT THE REORGANIZATIONAL MEETING IN MARCH. THIS PROCESS WAS MOST RECENTLY COMPLETED IN 2011.
IRS990ScheduleO/GeneralExplanation/Explanation5FINANCIAL STATEMENTS ARE AVAILABLE AT THE OFFICE UPON REQUEST AND ARE DISTRIBUTED TO MEMBERS AT THE ANNUAL MEETING.
IRS990ScheduleO/GeneralExplanation/Explanation6NCUA ADJUSTMENT 27,000. TOTAL TO FORM 990, PART XI, LINE 5: 27,000.
IRS990ScheduleO/GeneralExplanation/Explanation7AS ALLOWED BY STATE REGULATORY AUTHORITIES, THE AUDIT IS DONE AS OF MARCH 31. THE REPORTING PERIOD FOR THE AUDIT, THEREFORE, DOES NOT MATCH THE REPORTING PERIOD FOR THE 990.
IRS990ScheduleO/GeneralExplanation/Explanation8THE SUPERVISORY COMMITTEE OVERSEES THE AUDIT AND THE SELECTION OF AN INDEPENDENT ACCOUNTANT.
IRS990ScheduleO/GeneralExplanation/Identifier0CHANGES IN NET ASSETS OR FUND BALANCES:
IRS990ScheduleO/GeneralExplanation/ReturnReference0FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/GeneralExplanation/ReturnReference1FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/GeneralExplanation/ReturnReference2FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/GeneralExplanation/ReturnReference3FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/GeneralExplanation/ReturnReference4FORM 990, PART VI, SECTION B, LINE 15A
IRS990ScheduleO/GeneralExplanation/ReturnReference5FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/GeneralExplanation/ReturnReference6FORM 990, PART XI, LINE 5:
IRS990ScheduleO/GeneralExplanation/ReturnReference7FORM 990, PART XII, LINE 2A AND 2B:
IRS990ScheduleO/GeneralExplanation/ReturnReference8FORM 990, PART XII, LINE 2C:
IRS990/ScheduleORequired01
IRS990/School00
IRS990/SignificantChange00
IRS990/SignificantNewProgramServices00
IRS990/StateLegalDomicile0MN
IRS990/SubjectToProxyTax00
IRS990/TaxablePartyNotification00
IRS990/TaxExemptBonds00
IRS990/Terminated00
IRS990/TermOrPermanentEndowments00
IRS990/TheBooksAreInCareOf/AddressUS/AddressLine103303 NORTH SERVICE DRIVE
IRS990/TheBooksAreInCareOf/AddressUS/City0RED WING
IRS990/TheBooksAreInCareOf/AddressUS/State0MN
IRS990/TheBooksAreInCareOf/AddressUS/ZIPCode055066
IRS990/TheBooksAreInCareOf/NamePerson0LINDA DIETZ
IRS990/TheBooksAreInCareOf/TelephoneNumber06513887133
IRS990/TotalAssets/BOY067021661
IRS990/TotalAssetsBOY067021661
IRS990/TotalAssets/EOY070389815
IRS990/TotalAssetsEOY070389815
IRS990/TotalCompGT150K00
IRS990/TotalExpensesCurrentYear02253907
IRS990/TotalExpensesPriorYear02808929
IRS990/TotalFunctionalExpenses/Total02253907
IRS990/TotalFundrsngExpCurrentYear00
IRS990/TotalGrossUBI02114
IRS990/TotalLiabilities/BOY060608682
IRS990/TotalLiabilitiesBOY060608682
IRS990/TotalLiabilities/EOY063528058
IRS990/TotalLiabilitiesEOY063528058
IRS990/TotalLiabNetAssetsFundBalances/BOY067021661
IRS990/TotalLiabNetAssetsFundBalances/EOY070389815
IRS990/TotalNbrEmployees018
IRS990/TotalNbrVolunteers010
IRS990/TotalNetAssetsFundBalances/BOY06412979
IRS990/TotalNetAssetsFundBalances/EOY06861757
IRS990/TotalOtherCompensation017740
IRS990/TotalProfFundrsngExpCY00
IRS990/TotalProfFundrsngExpPriorYear00
IRS990/TotalProgramServiceRevenue02299589
IRS990/TotalReportableCompFrmRltdOrgs00
IRS990/TotalReportableCompFromOrg0103539
IRS990/TotalRevenueCurrentYear02675685
IRS990/TotalRevenue/ExclusionAmount0376096
IRS990/TotalRevenuePriorYear02725457
IRS990/TotalRevenue/RelatedOrExemptFunctionIncome02297475
IRS990/TotalRevenue/TotalRevenueColumn02675685
IRS990/TotalRevenue/UnrelatedBusinessRevenue02114
IRS990/TransactionRelatedEntity00
IRS990/TypeOfOrganizationOther0X
IRS990/TypeOfOrgOtherDescription0CU
IRS990/UnrelatedBusinessIncome01
IRS990/UponRequest0X
IRS990/WebSite0WWW.REDWINGCU.COM
IRS990/WhistleblowerPolicy00
IRS990/YearFormation01954
ReturnHeader/BuildTS02016-02-24 21:20:13Z
ReturnHeader/Filer/EIN0410793629
ReturnHeader/Filer/Name/BusinessNameLine10RED WING CREDIT UNION
ReturnHeader/Filer/NameControl0REDW
ReturnHeader/Filer/Phone06513887133
ReturnHeader/Filer/USAddress/AddressLine103303 NORTH SERVICE DRIVE
ReturnHeader/Filer/USAddress/City0RED WING
ReturnHeader/Filer/USAddress/State0MN
ReturnHeader/Filer/USAddress/ZIPCode055066
ReturnHeader/Officer/AuthorizeThirdParty01
ReturnHeader/Officer/DateSigned02012-10-10
ReturnHeader/Officer/Name0AARON S DEJONG
ReturnHeader/Officer/Phone06513887133
ReturnHeader/Officer/Title0PRESIDENT
ReturnHeader/PreparerFirm/EIN0410746749
ReturnHeader/PreparerFirm/PreparerFirmBusinessName/BusinessNameLine10CLIFTONLARSONALLEN LLP
ReturnHeader/PreparerFirm/PreparerFirmUSAddress/AddressLine10PO BOX 217
ReturnHeader/PreparerFirm/PreparerFirmUSAddress/City0AUSTIN
ReturnHeader/PreparerFirm/PreparerFirmUSAddress/State0MN
ReturnHeader/PreparerFirm/PreparerFirmUSAddress/ZIPCode055912
ReturnHeader/Preparer/Name0RICHARD J GABRIELSON
ReturnHeader/Preparer/Phone05074347000
ReturnHeader/ReturnType0990
ReturnHeader/TaxPeriodBeginDate02011-01-01
ReturnHeader/TaxPeriodEndDate02011-12-31
ReturnHeader/TaxYear02011
ReturnHeader/Timestamp02012-10-19T13:17:59-05:00

Document Assets

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Filings

Displayed year

2011 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$70,389,815
Liabilities
$63,528,058
Net assets
$6,861,757
Revenue
-
Expenses
$2,253,907
Net income
-
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$190$172$17.8$9.50$7.43$2.07
2023Detailed filing. Detailed filing data is available for this year.$171$155$15.7$7.70$5.89$1.82
2022Detailed filing. Detailed filing data is available for this year.$169$156$12.6$6.74$4.41$2.33
2021Detailed filing. Detailed filing data is available for this year.$162$146$15.8$6.06$4.26$1.80
2020Detailed filing. Detailed filing data is available for this year.$137$122$14.7$5.32$4.10$1.21
2019Detailed filing. Detailed filing data is available for this year.$112$98.4$13.3$5.02$3.69$1.33
2018Detailed filing. Detailed filing data is available for this year.$103$91.8$11.4$4.43$3.13$1.30
2017Detailed filing. Detailed filing data is available for this year.$99.8$89.4$10.4$3.85$2.93$0.92
2016Detailed filing. Detailed filing data is available for this year.$92.7$83.3$9.34$3.46$2.63$0.83
2015Detailed filing. Detailed filing data is available for this year.$88.2$79.2$9.00$3.01$2.40$0.61
2014Detailed filing. Detailed filing data is available for this year.$79.7$71.3$8.41$2.86$2.26$0.60
2013Detailed filing. Detailed filing data is available for this year.$75.8$68.1$7.68$2.59$2.14$0.45
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$72.7$65.4$7.29$2.15
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$70.4$63.5$6.86$2.25
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$67.0$60.6$6.41$2.81