Civic Intelligence

Ae Goetze Employees Credit Union

EIN 41-0858832 • 501(c)14 • Lake City, MN

Profile

AE Goetze Employees Credit Union in Lake City, Minnesota provides loans to its members at affordable rates. We offer investments to our members in the form of savings accounts, certificates of deposit and simple IRA accounts.

201 N 8th StreetLake City, MN 55041
Siviq Scores

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

Liabilities / Assets

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on the latest valid filing.

Source year 2021

Liabilities / Revenue

96th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)14 • <$500k nonprofits • Source year 2021

Net Margin

54th percentile

-59%

Higher net margin than 54% of similar nonprofits.

501(c)14 • <$500k nonprofits • Source year 2021

Top Officer Pay

68th percentile

$43,239

Higher top officer pay than 68% of similar nonprofits.

Top officer pay equals 46.4% of source-year revenue.

501(c)14 • <$500k nonprofits • Source year 2021

Asset Growth

95th percentile

-100%

Faster asset growth than 95% of similar nonprofits.

501(c)14 • <$500k nonprofits • Annualized from 2020 to 2021

Revenue Growth

42nd percentile

-56%

Faster revenue growth than 42% of similar nonprofits.

501(c)14 • <$500k nonprofits • Annualized from 2020 to 2021

Assets

Down

$0

Down $4,813,782 (-100%) from 2020

Liabilities

Down

$0

Down $4,428,238 (-100%) from 2020

Net Assets

Down

$0

Down $385,544 (-100%) from 2020

Revenue

Down

$93,271

Down $116,956 (-56%) from 2020

Expenses

Down

$148,678

Down $93,186 (-39%) from 2020

Net Income

Down

-$55,407

Down $23,770 (-75%) from 2020

Trend Graphs

Balance Sheet Trend

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

$6.0M$4.0M$2.0M$0Assets 2011: $3,909,622Liabilities 2011: $3,489,579Net Assets 2011: $420,0422011Assets 2012: $4,600,407Liabilities 2012: $4,600,407Net Assets 2012: $02012Assets 2013: $4,561,723Liabilities 2013: $4,114,051Net Assets 2013: $447,6712013Assets 2014: $4,653,369Liabilities 2014: $4,187,092Net Assets 2014: $466,2772014Assets 2015: $4,719,597Liabilities 2015: $4,227,174Net Assets 2015: $492,4232015Assets 2016: $4,432,440Liabilities 2016: $3,969,391Net Assets 2016: $463,0482016Assets 2017: $4,262,935Liabilities 2017: $3,853,050Net Assets 2017: $409,8842017Assets 2018: $4,622,448Liabilities 2018: $4,207,805Net Assets 2018: $414,6422018Assets 2019: $4,291,861Liabilities 2019: $3,874,680Net Assets 2019: $417,1812019Assets 2020: $4,813,782Liabilities 2020: $4,428,238Net Assets 2020: $385,5442020Assets 2021: $0Liabilities 2021: $0Net Assets 2021: $02021

Highlighted filing

2021

Assets$0
Liabilities$0
Net Assets$0

Operations Trend

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

$400K$200K$0-$200K-$400KRevenue 2011: $269,608Expenses 2011: $250,244Net Income 2011: $19,3642011Revenue 2012: $274,201Expenses 2012: $262,095Net Income 2012: $12,1062012Revenue 2013: $291,222Expenses 2013: $275,700Net Income 2013: $15,5222013Revenue 2014: $296,513Expenses 2014: $277,907Net Income 2014: $18,6062014Revenue 2015: $310,176Expenses 2015: $284,030Net Income 2015: $26,1462015Revenue 2016: $277,225Expenses 2016: $306,599Net Income 2016: -$29,3742016Revenue 2017: $250,928Expenses 2017: $304,091Net Income 2017: -$53,1632017Revenue 2018: $20,384Expenses 2018: $229,053Net Income 2018: -$208,6692018Revenue 2019: $231,603Expenses 2019: $229,065Net Income 2019: $2,5382019Revenue 2020: $210,227Expenses 2020: $241,864Net Income 2020: -$31,6372020Revenue 2021: $93,271Expenses 2021: $148,678Net Income 2021: -$55,4072021

Highlighted filing

2021

Revenue$93,271
Expenses$148,678
Net Income-$55,407

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Jul 31, 2021
Signed
Mar 31, 2022
Return Version
2021v4.0
Gross Receipts
$93,271
Mission and Program Overview

Mission

AE Goetze Employees Credit Union in Lake City, Minnesota provides loans to its members at affordable rates. We offer investments to our members in the form of savings accounts, certificates of deposit and simple IRA accounts.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$2,603,732$0▼ $2,603,732
Savings and Temporary Cash Investments$1,916,860$0▼ $1,916,860
Rtn Earn Endowment Incm Other Fnds$385,544$0▼ $385,544
Cash and Non-Interest-Bearing Accounts$148,287$0▼ $148,287
Land, Buildings, and Equipment, Net$67,695--
Prepaid Expenses and Deferred Charges$26,005--
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$4,813,782$0▼ $4,813,782
Other Assets Total$51,203$0▼ $51,203
Liabilities
Other Liabilities$4,427,039--
Accounts Payable and Accrued Expenses$1,199$0▼ $1,199
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$4,428,238$0▼ $4,428,238
Net Assets / Fund Balance
Total Net Assets Fund Balance$385,544$0▼ $385,544
Total Liabilities and Net Assets / Fund Balance$4,813,782$0▼ $4,813,782
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
John RutzCEO/ManagerFT$43,239$43,239

Board Members and Trustees

NameTitle
Frank SchneiderDirector
John FuchsDirector
Monte HurlburtDirector
Rebecca KleesDirector
Troy AdamsDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$86,377
Investment Income
$6,894
Other Revenue
$0
Change in Net Assets
$-55,407
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$94,028
Other Expenses$45,486
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---$43,239
Other Salaries and Wages---$40,204
Other Expenses---$12,676
Other Employee Benefits---$10,585
Depreciation Depletion---$10,342
Benefits to Members---$9,164
Office Expenses---$7,550
Occupancy---$6,506
Travel---$294
Interest---$-90
Total Functional Expenses$0$0$0$148,678
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Audit committee
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
No
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 organization has only members.

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

There are five members on the Board of Directors. Each is elected for a three year term by the general membership at the annual meeting. Only members of the credit union can vote for directors.

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

Major decisions or changes in the by-laws are presented to members for voting.

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

The Form 990 is offered to members who request one, and or any monthly or yearly forms. Everything is open for viewing or duplication.

Form 990, Part VI, Section B, Line 15

CEO Manager compensation is reviewed and set annually by the Board of Directors.

Form 990, Part VI, Section C, Line 19

Corporate documents are available upon request.

Filing and Contact Details

Filer

Filer Name
Ae Goetze Employees Credit Union
EIN
41-0858832
Phone
6513455210
Address
201 N 8th Street, Lake City, MN 55041

Signing Officer

Name
Mike Rosek
Title
CEO/First Alliance Credit Union
Phone
5072880330
Signed
2022-03-31

Organization Details

Formed
1962
Legal Domicile
Mn
Voting Board Members
5
Independent Board Members
5
Employees
2
Volunteers
5
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

AE Goetze Employees Credit Union merged with First Alliance Credit Union on 07/01/21. See Schedule N and supporting documentation.

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IRS990/ProgramServiceRevenueGrp/BusinessCd0522130
IRS990/ProgramServiceRevenueGrp/Desc0Program Revenue
IRS990/ProgramServiceRevenueGrp/ExclusionAmt00
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt086377
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt086377
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/ProgSrvcAccomActy2Grp/Desc0Investment Income
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt06894
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt023385
IRS990/PYContributionsGrantsAmt00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt020683
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt062087
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt0189544
IRS990/PYRevenuesLessExpensesAmt0-31637
IRS990/PYSalariesCompEmpBnftPaidAmt0156392
IRS990/PYTotalExpensesAmt0241864
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0210227
IRS990/RcvblFromDisqualifiedPrsnGrp/BOYAmt00
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/BOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-55407
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/RentalIncomeOrLossGrp/PersonalAmt00
IRS990/RentalIncomeOrLossGrp/RealAmt00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt086377
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/ExclusionAmt00
IRS990/RoyaltiesRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/RoyaltiesRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt0385544
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt01916860
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990/ScheduleBRequiredInd00
IRS990/ScheduleJRequiredInd00
IRS990ScheduleN/AssetsDistributedInd01
IRS990ScheduleN/AttorneyGeneralNotifiedInd01
IRS990ScheduleN/BondsOutstandingInd00
IRS990ScheduleN/DirectorOfSuccessorInd00
IRS990ScheduleN/EmployeeOfSuccessorInd00
IRS990ScheduleN/LiabilitiesPaidInd01
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc0Net Loans
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc1Cash
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc2Investments
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc3Fixed Assets
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc4Other Assets
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/BusinessName/BusinessNameLine1Txt0First Alliance Credit Union
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/BusinessName/BusinessNameLine1Txt1First Alliance Credit Union
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/BusinessName/BusinessNameLine1Txt2First Alliance Credit Union
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/BusinessName/BusinessNameLine1Txt3First Alliance Credit Union
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/BusinessName/BusinessNameLine1Txt4First Alliance Credit Union
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt02021-07-01
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt12021-07-01
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt22021-07-01
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt32021-07-01
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt42021-07-01
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/EIN0410429399
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/EIN1410429399
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/EIN2410429399
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/EIN3410429399
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/EIN4410429399
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/FairMarketValueOfAssetAmt02743146
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/FairMarketValueOfAssetAmt11791461
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/FairMarketValueOfAssetAmt2579726
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/FairMarketValueOfAssetAmt363900
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/FairMarketValueOfAssetAmt455330
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/IRCSectionTxt0501(c)(14)
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/IRCSectionTxt1501(c)(14)
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/IRCSectionTxt2501(c)(14)
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/IRCSectionTxt3501(c)(14)
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/IRCSectionTxt4501(c)(14)
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/MethodOfFMVDeterminationTxt0Net Present Value
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/MethodOfFMVDeterminationTxt1Book Value
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/MethodOfFMVDeterminationTxt2Comparable
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/MethodOfFMVDeterminationTxt3Book Value
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/MethodOfFMVDeterminationTxt4Book Value
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/AddressLine1Txt0300 N Main Street
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/AddressLine1Txt1300 N Main Street
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/AddressLine1Txt2300 N Main Street
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/AddressLine1Txt3300 N Main Street
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/AddressLine1Txt4300 N Main Street
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/CityNm0Stewartville
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/CityNm1Stewartville
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/CityNm2Stewartville
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/CityNm3Stewartville
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/CityNm4Stewartville
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/StateAbbreviationCd0MN
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/StateAbbreviationCd1MN
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/StateAbbreviationCd2MN
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/StateAbbreviationCd3MN
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/StateAbbreviationCd4MN
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/ZIPCd055976
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/ZIPCd155976
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/ZIPCd255976
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/ZIPCd355976
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/ZIPCd455976
IRS990ScheduleN/OwnerOfSuccessorInd00
IRS990ScheduleN/ReceiveCompensationInd00
IRS990ScheduleN/RequiredToNotifyAGInd01
IRS990ScheduleN/SupplementalInformationDetail/ExplanationTxt0AE Goetze Employees Credit Union merged with First Alliance Credit Union on 07/01/21. See attached supporting documentation.
IRS990ScheduleN/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule N, Part I, Line 1
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The organization has only members.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1There are five members on the Board of Directors. Each is elected for a three year term by the general membership at the annual meeting. Only members of the credit union can vote for directors.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Major decisions or changes in the by-laws are presented to members for voting.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The Form 990 is offered to members who request one, and or any monthly or yearly forms. Everything is open for viewing or duplication.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4CEO Manager compensation is reviewed and set annually by the Board of Directors.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Corporate documents are available upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6AE Goetze Employees Credit Union merged with First Alliance Credit Union on 07/01/21. See Schedule N and supporting documentation.
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

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