Civic Intelligence

Soo Select Credit Union

990 • Fiscal year 2016 • EIN 41-0824078

Jan 01, 2016 to Dec 31, 2016 • Filed on May 08, 2017

Organization ProfileWWW.SOOSELECTCU.VIRTUALCU.NET
1100 Van Rooy DriveThief River Falls, MN 56701

(218) 681-2303

Siviq Scores

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

Liabilities / Assets

56th percentile

0.87x

Higher debt load relative to assets than 56% of similar nonprofits.

2016 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2016

Liabilities / Revenue

37th percentile

17.99x

Higher debt load relative to revenue than 37% of similar nonprofits.

2016 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2016

Net Margin

73rd percentile

12%

Higher net margin than 73% of similar nonprofits.

2016 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2016

Top Officer Pay

91st percentile

$111,413

Higher top officer pay than 91% of similar nonprofits.

Top officer pay equals 17.1% of source-year revenue.

2016 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2016

Asset Growth

5th percentile

-6.3%

Faster asset growth than 5% of similar nonprofits.

2016 filings • 501(c)14 • $10M-$25M nonprofits • Annualized from 2015 to 2016

Revenue Growth

8th percentile

-6.3%

Faster revenue growth than 8% of similar nonprofits.

2016 filings • 501(c)14 • $10M-$25M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets56th percentile

Assets

Down

$13,431,894

Down $901,483 (-6.3%) from 2015

Net Assets

Up

$1,698,141

Up $77,580 (+4.8%) from 2015

Liabilities

Down

$11,733,753

Down $979,063 (-7.7%) from 2015

Revenue And Expenses
Liabilities / Revenue37th percentileNet Margin73rd percentile

Revenue

Down

$652,331

Down $43,616 (-6.3%) from 2015

Expenses

Up

$574,751

Up $23,874 (+4.3%) from 2015

Net Income

Down

$77,580

Down $67,490 (-47%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth5th percentile

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

$20M$15M$10M$5.0M$0Assets 2010: $14,127,423Liabilities 2010: $12,961,844Net Assets 2010: $1,165,5792010Assets 2011: $14,143,222Liabilities 2011: $12,982,949Net Assets 2011: $1,160,2732011Assets 2012: $14,841,378Liabilities 2012: $13,623,035Net Assets 2012: $1,218,3432012Assets 2013: $15,020,790Liabilities 2013: $13,691,148Net Assets 2013: $1,329,6422013Assets 2014: $14,608,775Liabilities 2014: $13,133,284Net Assets 2014: $1,475,4912014Assets 2015: $14,333,377Liabilities 2015: $12,712,816Net Assets 2015: $1,620,5612015Assets 2016: $13,431,894Liabilities 2016: $11,733,753Net Assets 2016: $1,698,1412016Assets 2017: $14,973,294Liabilities 2017: $13,066,779Net Assets 2017: $1,906,5152017Assets 2018: $0Liabilities 2018: $0Net Assets 2018: $02018

Highlighted filing

2016

Assets$13,431,894
Liabilities$11,733,753
Net Assets$1,698,141
Open 2016 Filing

Operations Trend

Revenue Growth8th percentile

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

$1.0M$500K$0-$500KExpenses 2010: $721,5672010Expenses 2011: $677,7292011Revenue 2012: $605,071Expenses 2012: $547,001Net Income 2012: $58,0702012Revenue 2013: $620,370Expenses 2013: $509,071Net Income 2013: $111,2992013Revenue 2014: $648,934Expenses 2014: $503,085Net Income 2014: $145,8492014Revenue 2015: $695,947Expenses 2015: $550,877Net Income 2015: $145,0702015Revenue 2016: $652,331Expenses 2016: $574,751Net Income 2016: $77,5802016Revenue 2017: $632,795Expenses 2017: $606,987Net Income 2017: $25,8082017Revenue 2018: $550,320Expenses 2018: $693,334Net Income 2018: -$143,0142018

Highlighted filing

2016

Revenue$652,331
Expenses$574,751
Net Income$77,580
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
May 8, 2017
Return Version
2016v3.0
Gross Receipts
$652,331
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 "owners".

To provide lending, savings, and other financial services to its qualifying members at terms generally better than available in the marketplace.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$7,221,445$6,529,921▼ $691,524
Savings and Temporary Cash Investments$3,874,452$3,156,778▼ $717,674
Investments Program Related$2,197,989$2,547,598▲ $349,609
Rtn Earn Endowment Incm Other Fnds$1,620,561$1,698,141▲ $77,580
Land, Buildings, and Equipment, Net$480,640$478,014▼ $2,626
Cash and Non-Interest-Bearing Accounts$252,717$199,770▼ $52,947
Prepaid Expenses and Deferred Charges$42,885$47,630▲ $4,745
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$14,333,377$13,431,894▼ $901,483
Other Assets Total$263,249$472,183▲ $208,934
Liabilities
Other Liabilities$12,693,101$11,710,080▼ $983,021
Accounts Payable and Accrued Expenses$19,715$23,673▲ $3,958
Total Liabilities$12,712,816$11,733,753▼ $979,063
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,620,561$1,698,141▲ $77,580
Total Liabilities and Net Assets / Fund Balance$14,333,377$13,431,894▼ $901,483

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$349,925$138,525$488,450
Equipment$26,264$298,708$324,972
Land$101,825-$101,825
Other Land Buildings$0$36,682$36,682
Investment Program Related Org$20,000--
Compensation and Service Providers
Top Officer Pay91st percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Joyce KalbakdalenPresident/CEOFT$100,481$10,932$111,413
Dana JenkinsDirector-$288-$288
Bruce BjorgaardVice President-$240-$240
Robert WoldPresident-$240-$240
Ronnie SkalletSecretary-$240-$240
David PaulsonDirector-$120-$120
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$599,142
Investment Income
$53,189
Other Revenue
$0
Change in Net Assets
$77,580
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$338,271
Other Expenses$211,435
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$171,778
Office Expenses---$151,331
Current Officers, Directors, Trustees, and Key Employees---$112,541
Benefits to Members---$25,045
Payroll Taxes---$21,448
Occupancy---$20,232
Depreciation Depletion---$20,188
Other Employee Benefits---$19,313
Pension Plan Contributions---$13,191
Fees for Services Other---$10,700
Travel---$5,688
Other Expenses---$2,171
All Other Expenses---$-25,000
Total Functional Expenses$0$0$0$574,751
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
Share Accounts$11,710,080
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 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
Yes
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, Part VI, Section A, Line 6

“The credit union has one class of members. Membership is open to employees of cp railroad, merit care nw hospital, merit care se clinic, digi-key, townsend pricing, arctic cat, jim dagg insurance, st john lutheran church and school. Membership is also open to blood relatives of members.”

Form 990, Part VI, Section A, Line 7A

“Members elect the board of directors.”

Form 990, Part VI, Section A, Line 7B

“Member approval is required to amend the certificate of organization and by-laws.”

Form 990, Part VI, Section B, Line 11B

“The completed form 990 is reviewed by the board of directors prior to submission to the irs.”

Form 990, Part VI, Section B, Line 12C

“Each board member and all staff of the credit union must complete a code of conduct affirmation form annually. The supervisory committee is responsible for follow-up on any suspicious activity evidenced from review of affirmation forms. The committee will report to the board of directors any findings that might compromise the integrity of the credit union or be in violation of the code of conduct policy.”

Form 990, Part VI, Section B, Line 15

“The board of directors review the salary of the ceo and approves raises. This process was completed in 2016”

Form 990, Part VI, Section C, Line 19

“Governing documents and financial statements are available upon request.”

Filing and Contact Details

Filer

Filer Name
Soo Select Credit Union
EIN
41-0824078
Phone
2186812303
Address
1100 VAN ROOY DRIVE, THIEF RIVER FALLS, MN 56701

Signing Officer

Name
Joyce Kalbakdalen
Title
President/CEO
Phone
2186812303
Signed
2017-05-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Joyce Kalbakdalen
Formed
1953
Legal Domicile
Mn
Voting Board Members
5
Independent Board Members
5
Employees
6
Volunteers
8

Preparer

Firm
Cliftonlarsonallen Llp
Address
PO BOX 217, AUSTIN, MN 55912
Preparer
Sherri Wessels
Phone
5074347000
Raw XML Appendix346 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.

Path#Value
IRS990/AccountantCompileOrReviewInd00
IRS990/AccountsPayableAccrExpnssGrp/BOYAmt019715
IRS990/AccountsPayableAccrExpnssGrp/EOYAmt023673
IRS990/ActivitiesConductedPrtshpInd00
IRS990/ActivityOrMissionDesc0TO PROVIDE LENDING, SAVINGS, AND OTHER FINANCIAL SERVICES TO ITS QUALIFYING MEMBERS AT TERMS GENERALLY BETTER THAN AVAILABLE IN THE MARKETPLACE.
IRS990/AllOtherExpensesGrp/TotalAmt0-25000
IRS990/AnnualDisclosureCoveredPrsnInd01
IRS990/BackupWthldComplianceInd01
IRS990/BenefitsToMembersGrp/TotalAmt025045
IRS990/BooksInCareOfDetail/PersonNm0JOYCE KALBAKDALEN
IRS990/BooksInCareOfDetail/PhoneNum02186812303
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt01100 VAN ROOY DRIVE
IRS990/BooksInCareOfDetail/USAddress/CityNm0THIEF RIVER FALLS
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0MN
IRS990/BooksInCareOfDetail/USAddress/ZIPCd056701
IRS990/BusinessRlnWithFamMemInd00
IRS990/BusinessRlnWithOfficerEntInd00
IRS990/BusinessRlnWithOrgMemInd00
IRS990/CapStkTrPrinCurrentFundsGrp/BOYAmt00
IRS990/CapStkTrPrinCurrentFundsGrp/EOYAmt00
IRS990/CashNonInterestBearingGrp/BOYAmt0252717
IRS990/CashNonInterestBearingGrp/EOYAmt0199770
IRS990/ChangeToOrgDocumentsInd00
IRS990/CntrctRcvdGreaterThan100KCnt00
IRS990/CollectionsOfArtInd00
IRS990/CompCurrentOfcrDirectorsGrp/TotalAmt0112541
IRS990/CompensationFromOtherSrcsInd00
IRS990/CompensationProcessCEOInd01
IRS990/CompensationProcessOtherInd01
IRS990/ConflictOfInterestPolicyInd01
IRS990/ConservationEasementsInd00
IRS990/ConsolidatedAuditFinclStmtInd00
IRS990/CreditCounselingInd00
IRS990/CYBenefitsPaidToMembersAmt025045
IRS990/CYContributionsGrantsAmt00
IRS990/CYGrantsAndSimilarPaidAmt00
IRS990/CYInvestmentIncomeAmt053189
IRS990/CYOtherExpensesAmt0211435
IRS990/CYOtherRevenueAmt00
IRS990/CYProgramServiceRevenueAmt0599142
IRS990/CYRevenuesLessExpensesAmt077580
IRS990/CYSalariesCompEmpBnftPaidAmt0338271
IRS990/CYTotalExpensesAmt0574751
IRS990/CYTotalFundraisingExpenseAmt00
IRS990/CYTotalProfFndrsngExpnsAmt00
IRS990/CYTotalRevenueAmt0652331
IRS990/DecisionsSubjectToApprovaInd01
IRS990/DeductibleArtContributionInd00
IRS990/DeductibleNonCashContriInd00
IRS990/DelegationOfMgmtDutiesInd00
IRS990/DepreciationDepletionGrp/TotalAmt020188
IRS990/Desc0DIVIDENDS AND INTEREST ON MEMBERS SAVINGS ACCOUNTS AND CD'S PAID TO 2,537 MEMBERS.
IRS990/DescribedInSection501c3Ind00
IRS990/DisregardedEntityInd00
IRS990/DocumentRetentionPolicyInd01
IRS990/DonorAdvisedFundInd00
IRS990/ElectionOfBoardMembersInd01
IRS990/EmployeeCnt06
IRS990/EmploymentTaxReturnsFiledInd01
IRS990/FamilyOrBusinessRlnInd00
IRS990/FederalGrantAuditRequiredInd00
IRS990/FeesForServicesOtherGrp/TotalAmt010700
IRS990/ForeignActivitiesInd00
IRS990/ForeignFinancialAccountInd00
IRS990/ForeignOfficeInd00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt01.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt11.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt21.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt31.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt41.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt550.00
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd0X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd1X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd2X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd3X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd4X
IRS990/Form990PartVIISectionAGrp/OfficerInd0X
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt00
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt10
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt30
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt40
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt510932
IRS990/Form990PartVIISectionAGrp/PersonNm0ROBERT WOLD
IRS990/Form990PartVIISectionAGrp/PersonNm1DANA JENKINS
IRS990/Form990PartVIISectionAGrp/PersonNm2RONNIE SKALLET
IRS990/Form990PartVIISectionAGrp/PersonNm3DAVID PAULSON
IRS990/Form990PartVIISectionAGrp/PersonNm4BRUCE BJORGAARD
IRS990/Form990PartVIISectionAGrp/PersonNm5JOYCE KALBAKDALEN
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt0240
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt1288
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt2240
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt3120
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt4240
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt5100481
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt50
IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt1DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt2SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt5PRESIDENT/CEO
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/Form990TFiledInd01
IRS990/FormationYr01953
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedInd00
IRS990/FundraisingActivitiesInd00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt05
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt0652331
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd00
IRS990/IndependentAuditFinclStmtInd00
IRS990/IndependentVotingMemberCnt05
IRS990/IndivRcvdGreaterThan100KCnt01
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InvestmentIncomeGrp/ExclusionAmt053189
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt053189
IRS990/InvestmentInJointVentureInd00
IRS990/InvestmentsProgramRelatedGrp/BOYAmt02197989
IRS990/InvestmentsProgramRelatedGrp/EOYAmt02547598
IRS990/IRPDocumentCnt0253
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt0473915
IRS990/LandBldgEquipBasisNetGrp/BOYAmt0480640
IRS990/LandBldgEquipBasisNetGrp/EOYAmt0478014
IRS990/LandBldgEquipCostOrOtherBssAmt0951929
IRS990/LegalDomicileStateCd0MN
IRS990/LoanOutstandingInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd01
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0TO 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 "OWNERS".
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt01620561
IRS990/NetAssetsOrFundBalancesEOYAmt01698141
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/TotalAmt020232
IRS990/OfficeExpensesGrp/TotalAmt0151331
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt0263249
IRS990/OtherAssetsTotalGrp/EOYAmt0472183
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/TotalAmt019313
IRS990/OtherExpensesGrp/Desc0LOAN SERVICING EXPENSE
IRS990/OtherExpensesGrp/Desc1MISCELLANEOUS OPERATING
IRS990/OtherExpensesGrp/Desc2OPERATING FEES
IRS990/OtherExpensesGrp/Desc3EDUCATION AND PROMOTION
IRS990/OtherExpensesGrp/TotalAmt013068
IRS990/OtherExpensesGrp/TotalAmt19057
IRS990/OtherExpensesGrp/TotalAmt24000
IRS990/OtherExpensesGrp/TotalAmt32171
IRS990/OtherLiabilitiesGrp/BOYAmt012693101
IRS990/OtherLiabilitiesGrp/EOYAmt011710080
IRS990/OtherOrganizationDsc0CU
IRS990/OtherSalariesAndWagesGrp/TotalAmt0171778
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt07221445
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt06529921
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/TotalAmt021448
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt00
IRS990/PensionPlanContributionsGrp/TotalAmt013191
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt042885
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt047630
IRS990/PrincipalOfficerNm0JOYCE KALBAKDALEN
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/BusinessCd1900099
IRS990/ProgramServiceRevenueGrp/BusinessCd2522100
IRS990/ProgramServiceRevenueGrp/Desc0LOAN INTEREST
IRS990/ProgramServiceRevenueGrp/Desc1OTHER OPERATING INCOME
IRS990/ProgramServiceRevenueGrp/Desc2FEES & SERVICE CHARGES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0431839
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt184855
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt280918
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0431839
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt186013
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt281290
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt01158
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt1372
IRS990/ProgSrvcAccomActy2Grp/Desc0LIFE SAVINGS INSURANCE WHICH PROVIDES LIFE INSURANCE PROTECTION TO MEMBERS BASED ON THE BALANCE IN THEIR SHARE ACCOUNT.
IRS990/ProgSrvcAccomActy3Grp/Desc0ANNUAL MEETING OF MEMBERS AT WHICH THE CREDIT UNION OFFICERS REPORT TO THE MEMBERS ON THE OPERATION OF THE CREDIT UNION. THE MEMBERS ELECT THE BOARD OF DIRECTORS AND COMMITTEE MEMBERS. OVER 100 MEMBERS ATTENDED.
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt031789
IRS990/PYContributionsGrantsAmt00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt052047
IRS990/PYOtherExpensesAmt0213084
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt0643900
IRS990/PYRevenuesLessExpensesAmt0145070
IRS990/PYSalariesCompEmpBnftPaidAmt0306004
IRS990/PYTotalExpensesAmt0550877
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0695947
IRS990/ReconcilationRevenueExpnssAmt077580
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd01
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt01620561
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt01698141
IRS990/SavingsAndTempCashInvstGrp/BOYAmt03874452
IRS990/SavingsAndTempCashInvstGrp/EOYAmt03156778
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt0349925
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0138525
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0488450
IRS990ScheduleD/EquipmentGrp/BookValueAmt026264
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0298708
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0324972
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt02527598
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt120000
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0OTHER ASSETS IN CORP CREDIT UNIONS
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc1PAID-IN CAPITAL
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd0C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd1C
IRS990ScheduleD/LandGrp/BookValueAmt0101825
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0101825
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt036682
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt036682
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt011710080
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0SHARE ACCOUNTS
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0478014
IRS990ScheduleD/TotalBookValueProgramRltdAmt02547598
IRS990ScheduleD/TotalLiabilityAmt011710080
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE CREDIT UNION HAS ONE CLASS OF MEMBERS. MEMBERSHIP IS OPEN TO EMPLOYEES OF CP RAILROAD, MERIT CARE NW HOSPITAL, MERIT CARE SE CLINIC, DIGI-KEY, TOWNSEND PRICING, ARCTIC CAT, JIM DAGG INSURANCE, ST JOHN LUTHERAN CHURCH AND SCHOOL. MEMBERSHIP IS ALSO OPEN TO BLOOD RELATIVES OF MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1MEMBERS ELECT THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2MEMBER APPROVAL IS REQUIRED TO AMEND THE CERTIFICATE OF ORGANIZATION AND BY-LAWS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE COMPLETED FORM 990 IS REVIEWED BY THE BOARD OF DIRECTORS PRIOR TO SUBMISSION TO THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4EACH BOARD MEMBER AND ALL STAFF OF THE CREDIT UNION MUST COMPLETE A CODE OF CONDUCT AFFIRMATION FORM ANNUALLY. THE SUPERVISORY COMMITTEE IS RESPONSIBLE FOR FOLLOW-UP ON ANY SUSPICIOUS ACTIVITY EVIDENCED FROM REVIEW OF AFFIRMATION FORMS. THE COMMITTEE WILL REPORT TO THE BOARD OF DIRECTORS ANY FINDINGS THAT MIGHT COMPROMISE THE INTEGRITY OF THE CREDIT UNION OR BE IN VIOLATION OF THE CODE OF CONDUCT POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE BOARD OF DIRECTORS REVIEW THE SALARY OF THE CEO AND APPROVES RAISES. THIS PROCESS WAS COMPLETED IN 2016
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt014333377
IRS990/TotalAssetsEOYAmt013431894
IRS990/TotalAssetsGrp/BOYAmt014333377
IRS990/TotalAssetsGrp/EOYAmt013431894
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt06
IRS990/TotalFunctionalExpensesGrp/TotalAmt0574751
IRS990/TotalGrossUBIAmt01530
IRS990/TotalLiabilitiesBOYAmt012712816
IRS990/TotalLiabilitiesEOYAmt011733753
IRS990/TotalLiabilitiesGrp/BOYAmt012712816
IRS990/TotalLiabilitiesGrp/EOYAmt011733753
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01620561
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01698141
IRS990/TotalOtherCompensationAmt010932
IRS990/TotalProgramServiceRevenueAmt0599142
IRS990/TotalReportableCompFromOrgAmt0101609
IRS990/TotalRevenueGrp/ExclusionAmt053189
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0597612
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0652331
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt01530
IRS990/TotalVolunteersCnt08
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt014333377
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt013431894
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/TotalAmt05688
IRS990/TypeOfOrganizationOtherInd0X
IRS990/UnrelatedBusIncmOverLimitInd01
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01100 VAN ROOY DRIVE
IRS990/USAddress/CityNm0THIEF RIVER FALLS
IRS990/USAddress/StateAbbreviationCd0MN
IRS990/USAddress/ZIPCd056701
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0WWW.SOOSELECTCU.VIRTUALCU.NET
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0JOYCE KALBAKDALEN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT/CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum02186812303
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-05-08
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SOO SELECT CREDIT UNION
ReturnHeader/Filer/BusinessNameControlTxt0SOOS
ReturnHeader/Filer/EIN0410824078
ReturnHeader/Filer/PhoneNum02186812303
ReturnHeader/Filer/USAddress/AddressLine1Txt01100 VAN ROOY DRIVE
ReturnHeader/Filer/USAddress/CityNm0THIEF RIVER FALLS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MN
ReturnHeader/Filer/USAddress/ZIPCd056701
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId07F2D99A8FA41054BDE5C18CF2CEF42D8541F15FD
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId049FF17CAA3AD5322734E871A13C803864389E663
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt067.137.57.251
ReturnHeader/FilingSecurityInformation/IPDt02017-05-08
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm009:01:28
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0410746749
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CLIFTONLARSONALLEN LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 217
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0AUSTIN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd055912
ReturnHeader/PreparerPersonGrp/PhoneNum05074347000
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0SHERRI WESSELS
ReturnHeader/ReturnTs02017-05-11T14:50:35-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-01-01
ReturnHeader/TaxPeriodEndDt02016-12-31
ReturnHeader/TaxYr02016

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$13,431,894
Liabilities
$11,733,753
Net assets
$1,698,141
Revenue
$652,331
Expenses
$574,751
Net income
$77,580
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2018Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.55$0.69$0.14
2017Detailed filing. Detailed filing data is available for this year.$15.0$13.1$1.91$0.63$0.61$0.03
2016Detailed filing. Detailed filing data is available for this year.$13.4$11.7$1.70$0.65$0.57$0.08
2015Detailed filing. Detailed filing data is available for this year.$14.3$12.7$1.62$0.70$0.55$0.15
2014Detailed filing. Detailed filing data is available for this year.$14.6$13.1$1.48$0.65$0.50$0.15
2013Detailed filing. Detailed filing data is available for this year.$15.0$13.7$1.33$0.62$0.51$0.11
2012Summary only. Only limited summary data is available for this year.$14.8$13.6$1.22$0.61$0.55$0.06
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$14.1$13.0$1.16$0.68
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$14.1$13.0$1.17$0.72