Civic Intelligence

First Pace Credit Union

990 • Fiscal year 2014 • EIN 41-0874898

Jan 01, 2014 to Dec 31, 2014 • Filed on May 06, 2015

Organization Profilewww.firstpacecu.com

View Organization Page

161 Marie Avenue EastWest St Paul, MN 55118

(651) 451-8495

Siviq Scores

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

Liabilities / Assets

23rd percentile

0.80x

Higher debt load relative to assets than 23% of similar nonprofits.

2014 filings • 501(c)14 • $5M-$10M nonprofits • Source year 2014

Liabilities / Revenue

46th percentile

19.37x

Higher debt load relative to revenue than 46% of similar nonprofits.

2014 filings • 501(c)14 • $5M-$10M nonprofits • Source year 2014

Net Margin

90th percentile

21%

Higher net margin than 90% of similar nonprofits.

2014 filings • 501(c)14 • $5M-$10M nonprofits • Source year 2014

Top Officer Pay

57th percentile

$53,396

Higher top officer pay than 57% of similar nonprofits.

Top officer pay equals 15.0% of source-year revenue.

2014 filings • 501(c)14 • $5M-$10M nonprofits • Source year 2014

Asset Growth

94th percentile

8.3%

Faster asset growth than 94% of similar nonprofits.

2014 filings • 501(c)14 • $5M-$10M nonprofits • Annualized from 2013 to 2014

Revenue Growth

81st percentile

3.9%

Faster revenue growth than 81% of similar nonprofits.

2014 filings • 501(c)14 • $5M-$10M nonprofits • Annualized from 2013 to 2014

Balance Sheet
Liabilities / Assets23rd percentile

Assets

Up

$8,578,698

Up $660,008 (+8.3%) from 2013

Net Assets

Up

$1,695,389

Up $73,065 (+4.5%) from 2013

Liabilities

Up

$6,883,309

Up $586,943 (+9.3%) from 2013

Revenue And Expenses
Liabilities / Revenue46th percentileNet Margin90th percentile

Revenue

Up

$355,271

Up $13,434 (+3.9%) from 2013

Expenses

Down

$282,203

Down $15,871 (-5.3%) from 2013

Net Income

Up

$73,068

Up $29,305 (+67%) from 2013

Historical Trend

Balance Sheet Trend

Asset Growth94th percentile

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

$15M$10M$5.0M$0Assets 2010: $7,029,208Liabilities 2010: $5,533,597Net Assets 2010: $1,495,6112010Assets 2011: $7,371,889Liabilities 2011: $5,841,197Net Assets 2011: $1,530,6922011Assets 2012: $7,754,700Liabilities 2012: $6,176,125Net Assets 2012: $1,578,5752012Assets 2013: $7,918,690Liabilities 2013: $6,296,366Net Assets 2013: $1,622,3242013Assets 2014: $8,578,698Liabilities 2014: $6,883,309Net Assets 2014: $1,695,3892014Assets 2015: $9,036,568Liabilities 2015: $7,308,337Net Assets 2015: $1,728,2312015Assets 2016: $8,761,101Liabilities 2016: $7,041,387Net Assets 2016: $1,719,7142016Assets 2017: $8,887,980Liabilities 2017: $7,154,694Net Assets 2017: $1,733,2862017Assets 2018: $8,796,683Liabilities 2018: $7,028,271Net Assets 2018: $1,768,4122018Assets 2019: $8,694,234Liabilities 2019: $6,878,095Net Assets 2019: $1,816,1392019Assets 2020: $9,551,599Liabilities 2020: $7,702,838Net Assets 2020: $1,848,7612020Assets 2021: $10,659,155Liabilities 2021: $8,753,132Net Assets 2021: $1,906,0232021Assets 2022: $11,002,655Liabilities 2022: $9,107,727Net Assets 2022: $1,894,9282022Assets 2023: $9,529,737Liabilities 2023: $7,714,278Net Assets 2023: $1,815,4592023Assets 2024: $9,183,725Liabilities 2024: $7,422,413Net Assets 2024: $1,761,3122024

Highlighted filing

2014

Assets$8,578,698
Liabilities$6,883,309
Net Assets$1,695,389
Open 2014 Filing

Operations Trend

Revenue Growth81st percentile

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

$600K$400K$200K$0-$200KExpenses 2010: $397,2022010Expenses 2011: $339,6542011Expenses 2012: $309,7572012Revenue 2013: $341,837Expenses 2013: $298,074Net Income 2013: $43,7632013Revenue 2014: $355,271Expenses 2014: $282,203Net Income 2014: $73,0682014Revenue 2015: $358,360Expenses 2015: $325,508Net Income 2015: $32,8522015Revenue 2016: $353,894Expenses 2016: $362,403Net Income 2016: -$8,5092016Revenue 2017: $337,549Expenses 2017: $324,011Net Income 2017: $13,5382017Revenue 2018: $381,554Expenses 2018: $346,428Net Income 2018: $35,1262018Revenue 2019: $403,572Expenses 2019: $355,845Net Income 2019: $47,7272019Revenue 2020: $402,201Expenses 2020: $369,579Net Income 2020: $32,6222020Revenue 2021: $418,215Expenses 2021: $360,953Net Income 2021: $57,2622021Revenue 2022: $388,101Expenses 2022: $399,196Net Income 2022: -$11,0952022Revenue 2023: $398,551Expenses 2023: $478,020Net Income 2023: -$79,4692023Revenue 2024: $436,331Expenses 2024: $490,478Net Income 2024: -$54,1472024

Highlighted filing

2014

Revenue$355,271
Expenses$282,203
Net Income$73,068
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
May 6, 2015
Return Version
2014v5.0
Gross Receipts
$355,271
Mission and Program Overview

Mission

Provide savings, loans and other financial services to members at terms generally better than available in the marketplace and with a "service-based emphasis" that recognizes the members as "owners."

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$4,864,810$5,525,144▲ $660,334
Investments Other Securities$2,432,614$2,237,008▼ $195,606
Rtn Earn Endowment Incm Other Fnds$1,622,324$1,695,389▲ $73,065
Savings and Temporary Cash Investments$210,621$337,903▲ $127,282
Investments Program Related$258,617$326,600▲ $67,983
Prepaid Expenses and Deferred Charges$37,540$20,885▼ $16,655
Cash and Non-Interest-Bearing Accounts$17,041$19,276▲ $2,235
Land, Buildings, and Equipment, Net-$13,668-
Receivables From Officers Etc$0$0→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$7,918,690$8,578,698▲ $660,008
Other Assets Total$97,447$98,214▲ $767
Liabilities
Other Liabilities$6,251,627$6,865,772▲ $614,145
Accounts Payable and Accrued Expenses$44,739$17,537▼ $27,202
Total Liabilities$6,296,366$6,883,309▲ $586,943
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,622,324$1,695,389▲ $73,065
Total Liabilities and Net Assets / Fund Balance$7,918,690$8,578,698▲ $660,008

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$13,668$5,988$19,656
Buildings$0$0$0
Other Land Buildings$0$0$0
Land$0-$0
Leasehold Improvements$0$0$0
Other Securities$100,000--
Compensation and Service Providers
Top Officer Pay57th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Jennifer TiedmanPresidentPT$50,853$2,543$53,396

Board Members and Trustees

NameTitle
Gary MartinezChairperson
Doug KrechVice-Chairperson
Quinton VorhiesDirector
Deborah SpiessSecretary
Jack JohnsonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$316,067
Investment Income
$39,204
Other Revenue
$0
Change in Net Assets
$73,068
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$134,434
Salaries, Compensation, and Employee Benefits$124,639
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Office Expenses---$61,103
Other Salaries and Wages---$59,601
Current Officers, Directors, Trustees, and Key Employees---$53,673
Benefits to Members---$23,130
Information Technology---$22,146
Occupancy---$19,846
Advertising---$10,044
Conferences and Meetings---$9,819
Insurance---$9,768
Payroll Taxes---$8,853
Depreciation Depletion---$5,988
Other Expenses---$2,905
Pension Plan Contributions---$2,512
Total Functional Expenses$0$0$0$282,203
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Regular Shares$5,587,091
Term Share Certificates$966,457
Share Drafts$312,224
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
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

“Comprised of USW Union Members and their immediate family members of approximately 1254 member owners, each having equal rights in ownership. The credit union has one class of members.”

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

“Current Member owners of FIRST PACE Credit Union are each allowed one vote to elect the members of the Board of Directors.”

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

“Changes to the bylaws must be approved by the member owners after they have been approved by the Board of Directors and the regulatory agency. Approval occurs when at least 50% of the member owners vote to approve when a quorum is met.”

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

“Form 990 is reviewed by the Supervisory Committee”

Form 990, Part VI, Section B, Line 15

“The Presidents salary is based on comparable sized credit unions through use of CUNA's annual compensation survey results. The process is done by the salary review committee, made up of the Board of Directors, and was approved at their meeting November 24, 2014.”

Form 990, Part VI, Section C, Line 19

“Financial statements are posted in the lobby or they can be reviewed by appointment at the credit union office.”

Filing and Contact Details

Filer

Filer Name
FIRST PACE Credit Union
EIN
41-0874898
Phone
6514518495
Address
161 Marie Avenue East, West St Paul, MN 55118

Signing Officer

Name
Jennifer Tiedman
Title
President
Phone
6514518495
Signed
2015-05-06

Organization Details

Principal Officer
Jennifer Tiedman
Formed
1963
Legal Domicile
Mn
Voting Board Members
5
Independent Board Members
5
Employees
3
Volunteers
8
Raw XML Appendix380 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
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IRS990/ProgSrvcAccomActy2Grp/Desc0Free checking accounts with a free VISA Debit Card to help members become financially responsible. Also free online banking, electronic bill pay and online statements to empower the member with tools for good money management.
IRS990/ProgSrvcAccomActy3Grp/Desc0Competitive dividends paid on approximately 1450 share savings accounts, club accounts and term share certificates, to help our 1254 members save for the future. Free online banking and online statements for the members to help monitor their finances.
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IRS990/SavingsAndTempCashInvstGrp/EOYAmt0337903
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt00
IRS990ScheduleD/BuildingsGrp/DepreciationAmt00
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/EquipmentGrp/BookValueAmt013668
IRS990ScheduleD/EquipmentGrp/DepreciationAmt05988
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt019656
IRS990ScheduleD/LandGrp/BookValueAmt00
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0312224
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt15587091
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt2966457
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Share Drafts
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Regular Shares
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2Term Share Certificates
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt02008
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt12135000
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt2100000
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Securities AFS
IRS990ScheduleD/OtherSecuritiesGrp/Desc1Securities held to Maturity
IRS990ScheduleD/OtherSecuritiesGrp/Desc2US Gov't Bond
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0C
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd1C
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd2C
IRS990ScheduleD/TotalBookValueLandBuildingsAmt013668
IRS990ScheduleD/TotalBookValueSecuritiesAmt02237008
IRS990ScheduleD/TotalLiabilityAmt06865772
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Comprised of USW Union Members and their immediate family members of approximately 1254 member owners, each having equal rights in ownership. The credit union has one class of members.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Current Member owners of FIRST PACE Credit Union are each allowed one vote to elect the members of the Board of Directors.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Changes to the bylaws must be approved by the member owners after they have been approved by the Board of Directors and the regulatory agency. Approval occurs when at least 50% of the member owners vote to approve when a quorum is met.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Form 990 is reviewed by the Supervisory Committee
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The Presidents salary is based on comparable sized credit unions through use of CUNA's annual compensation survey results. The process is done by the salary review committee, made up of the Board of Directors, and was approved at their meeting November 24, 2014.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Financial statements are posted in the lobby or they can be reviewed by appointment at the credit union office.
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 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Section C, Line 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt07918690
IRS990/TotalAssetsEOYAmt08578698
IRS990/TotalAssetsGrp/BOYAmt07918690
IRS990/TotalAssetsGrp/EOYAmt08578698
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0282203
IRS990/TotalGrossUBIAmt02266
IRS990/TotalLiabilitiesBOYAmt06296366
IRS990/TotalLiabilitiesEOYAmt06883309
IRS990/TotalLiabilitiesGrp/BOYAmt06296366
IRS990/TotalLiabilitiesGrp/EOYAmt06883309
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01622324
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01695389
IRS990/TotalOtherCompensationAmt02543
IRS990/TotalOtherProgSrvcExpenseAmt00
IRS990/TotalOtherProgSrvcGrantAmt00
IRS990/TotalOtherProgSrvcRevenueAmt00
IRS990/TotalOthProgramServiceRevGrp/ExclusionAmt00
IRS990/TotalOthProgramServiceRevGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalOthProgramServiceRevGrp/TotalRevenueColumnAmt00
IRS990/TotalOthProgramServiceRevGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalProgramServiceExpensesAmt00
IRS990/TotalProgramServiceRevenueAmt0316067
IRS990/TotalReportableCompFromOrgAmt050853
IRS990/TotalRevenueGrp/ExclusionAmt039204
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0313801
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0355271
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt02266
IRS990/TotalVolunteersCnt08
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt07918690
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt08578698
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd01
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0161 MARIE AVE E
IRS990/USAddress/CityNm0WEST SAINT PAUL
IRS990/USAddress/StateAbbreviationCd0MN
IRS990/USAddress/ZIPCd055118
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0www.firstpacecu.com
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02016-02-25 16:41:14Z
ReturnHeader/BusinessOfficerGrp/PersonNm0Jennifer Tiedman
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/PhoneNum06514518495
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-05-06
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FIRST PACE Credit Union
ReturnHeader/Filer/BusinessNameControlTxt0FIRS
ReturnHeader/Filer/EIN0410874898
ReturnHeader/Filer/PhoneNum06514518495
ReturnHeader/Filer/USAddress/AddressLine1Txt0161 Marie Avenue East
ReturnHeader/Filer/USAddress/CityNm0West St Paul
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MN
ReturnHeader/Filer/USAddress/ZIPCd055118
ReturnHeader/ReturnTs02015-05-06T17:34:39-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02014-01-01
ReturnHeader/TaxPeriodEndDt02014-12-31
ReturnHeader/TaxYr02014

Document Assets

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Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$8,578,698
Liabilities
$6,883,309
Net assets
$1,695,389
Revenue
$355,271
Expenses
$282,203
Net income
$73,068
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.18$7.42$1.76$0.44$0.49$0.05
2023Detailed filing. Detailed filing data is available for this year.$9.53$7.71$1.82$0.40$0.48$0.08
2022Detailed filing. Detailed filing data is available for this year.$11.0$9.11$1.89$0.39$0.40$0.01
2021Detailed filing. Detailed filing data is available for this year.$10.7$8.75$1.91$0.42$0.36$0.06
2020Detailed filing. Detailed filing data is available for this year.$9.55$7.70$1.85$0.40$0.37$0.03
2019Detailed filing. Detailed filing data is available for this year.$8.69$6.88$1.82$0.40$0.36$0.05
2018Detailed filing. Detailed filing data is available for this year.$8.80$7.03$1.77$0.38$0.35$0.04
2017Detailed filing. Detailed filing data is available for this year.$8.89$7.15$1.73$0.34$0.32$0.01
2016Detailed filing. Detailed filing data is available for this year.$8.76$7.04$1.72$0.35$0.36$0.01
2015Detailed filing. Detailed filing data is available for this year.$9.04$7.31$1.73$0.36$0.33$0.03
2014Detailed filing. Detailed filing data is available for this year.$8.58$6.88$1.70$0.36$0.28$0.07
2013Detailed filing. Detailed filing data is available for this year.$7.92$6.30$1.62$0.34$0.30$0.04
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.75$6.18$1.58$0.31
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.37$5.84$1.53$0.34
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.03$5.53$1.50$0.40