Civic Intelligence

First Pace Credit Union

990 • Fiscal year 2019 • EIN 41-0874898

Jan 01, 2019 to Dec 31, 2019 • Filed on May 14, 2020

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

26th percentile

0.79x

Higher debt load relative to assets than 26% of similar nonprofits.

2019 filings • 501(c)14 • $5M-$10M nonprofits • Source year 2019

Liabilities / Revenue

45th percentile

17.04x

Higher debt load relative to revenue than 45% of similar nonprofits.

2019 filings • 501(c)14 • $5M-$10M nonprofits • Source year 2019

Net Margin

58th percentile

12%

Higher net margin than 58% of similar nonprofits.

2019 filings • 501(c)14 • $5M-$10M nonprofits • Source year 2019

Top Officer Pay

66th percentile

$61,596

Higher top officer pay than 66% of similar nonprofits.

Top officer pay equals 15.3% of source-year revenue.

2019 filings • 501(c)14 • $5M-$10M nonprofits • Source year 2019

Asset Growth

45th percentile

-1.2%

Faster asset growth than 45% of similar nonprofits.

2019 filings • 501(c)14 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Revenue Growth

55th percentile

5.8%

Faster revenue growth than 55% of similar nonprofits.

2019 filings • 501(c)14 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Assets

Down

$8,694,234

Down $102,449 (-1.2%) from 2018

Net Assets

Up

$1,816,139

Up $47,727 (+2.7%) from 2018

Liabilities

Down

$6,878,095

Down $150,176 (-2.1%) from 2018

Revenue

Up

$403,572

Up $22,018 (+5.8%) from 2018

Expenses

Up

$355,845

Up $9,417 (+2.7%) from 2018

Net Income

Up

$47,727

Up $12,601 (+36%) from 2018

Historical Trend

Balance Sheet Trend

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

2019

Assets$8,694,234
Liabilities$6,878,095
Net Assets$1,816,139

Operations Trend

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

2019

Revenue$403,572
Expenses$355,845
Net Income$47,727
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
May 14, 2020
Return Version
2019v5.0
Gross Receipts
$403,572
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$6,269,433$6,963,733▲ $694,300
Rtn Earn Endowment Incm Other Fnds$1,768,412$1,816,139▲ $47,727
Investments Other Securities$2,118,994$948,000▼ $1,170,994
Investments Program Related$118,872$352,690▲ $233,818
Savings and Temporary Cash Investments$35,158$196,723▲ $161,565
Cash and Non-Interest-Bearing Accounts$20,870$22,022▲ $1,152
Land, Buildings, and Equipment, Net$21,892$14,250▼ $7,642
Prepaid Expenses and Deferred Charges$13,812$6,042▼ $7,770
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$8,796,683$8,694,234▼ $102,449
Other Assets Total$197,652$190,774▼ $6,878
Liabilities
Other Liabilities$7,013,789$6,856,475▼ $157,314
Accounts Payable and Accrued Expenses$14,482$21,620▲ $7,138
Total Liabilities$7,028,271$6,878,095▼ $150,176
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,768,412$1,816,139▲ $47,727
Total Liabilities and Net Assets / Fund Balance$8,796,683$8,694,234▼ $102,449

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$0$0$0
Other Land Buildings$0$0$0
Land$0-$0
Equipment$14,250$14,305$0
Leasehold Improvements$0$0$0
Other Securities$948,000--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Jennifer TiedmanPresidentPT$58,663$2,933$61,596

Board Members and Trustees

NameTitle
Kevin HoeschenChair
Brian EckerVice-Chair
Dan GertenBoard Member
Deborah SpiessSecretary
Quinton VorhiesTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$365,237
Investment Income
$38,335
Other Revenue
$0
Change in Net Assets
$47,727
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$176,317
Salaries, Compensation, and Employee Benefits$147,629
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$65,888
Current Officers, Directors, Trustees, and Key Employees---$63,001
Office Expenses---$61,295
Benefits to Members---$31,899
Information Technology---$31,065
Occupancy---$19,909
Depreciation Depletion---$11,859
Insurance---$11,661
Conferences and Meetings---$10,713
Payroll Taxes---$10,036
Advertising---$7,535
Other Employee Benefits---$5,248
Pension Plan Contributions---$3,456
Travel---$2,636
Interest---$956
Other Expenses---$75
Total Functional Expenses$0$0$0$355,845
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
Regular Shares$5,424,475
Term Share Certificates$1,019,521
Share Drafts$412,479
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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

Comprised of USW Union members and their family members of approximately 1061 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

Review of Form 990 is done 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 December 10, 2018.

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
2020-05-14

Organization Details

Principal Officer
Jennifer Tiedman
Formed
1963
Legal Domicile
Mn
Voting Board Members
5
Independent Board Members
5
Employees
4
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 2

Implemented online/mobile services of bill pay, P2P (person to person) and A2A (account to account at FI's).

Raw XML Appendix383 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/Desc0Offer free checking accounts with a free VISA Debit Card to help members become financially responsible. Also free online/mobile banking with bill pay, remote deposit, Person to Person and Account to Account transfers between financial institutions. Also have free online statements. All services offered for free to empower the member with tools for good money management.
IRS990/ProgSrvcAccomActy3Grp/Desc0Competitive dividends paid on approximately 1235 share savings accounts, money market accounts, club accounts and term share certificates, to help our 1061 members save for the future. Free online and mobile banking and electronic statements for the members to help monitor their finances.
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IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt01768412
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt01816139
IRS990/SavingsAndTempCashInvstGrp/BOYAmt035158
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0196723
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt00
IRS990ScheduleD/BuildingsGrp/DepreciationAmt00
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/EquipmentGrp/BookValueAmt014250
IRS990ScheduleD/EquipmentGrp/DepreciationAmt014305
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt028555
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt00
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/Amt05424475
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1412479
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt21019521
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Regular Shares
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Share Drafts
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2Term Share Certificates
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt0948000
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Securities - Held to Maturity
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0C
IRS990ScheduleD/TotalBookValueLandBuildingsAmt014250
IRS990ScheduleD/TotalBookValueSecuritiesAmt0948000
IRS990ScheduleD/TotalLiabilityAmt06856475
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Implemented online/mobile services of bill pay, P2P (person to person) and A2A (account to account at FI's).
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Comprised of USW Union members and their family members of approximately 1061 member owners, each having equal rights in ownership. The credit union has one class of members.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Current member owners of FIRST PACE Credit Union are each allowed one vote to elect the members of the Board of Directors.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Changes 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/ExplanationTxt4Review of Form 990 is done by the Supervisory Committee.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5The 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 December 10, 2018.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Financial Statements are posted in the lobby or they can be reviewed by appointment at the credit union office.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part III, Line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section A, Line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section A, Line 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section A, Line 7b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section B, Line 11b
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/SignificantNewProgramSrvcInd01
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt08796683
IRS990/TotalAssetsEOYAmt08694234
IRS990/TotalAssetsGrp/BOYAmt08796683
IRS990/TotalAssetsGrp/EOYAmt08694234
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt04
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0355845
IRS990/TotalGrossUBIAmt02193
IRS990/TotalLiabilitiesBOYAmt07028271
IRS990/TotalLiabilitiesEOYAmt06878095
IRS990/TotalLiabilitiesGrp/BOYAmt07028271
IRS990/TotalLiabilitiesGrp/EOYAmt06878095
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01768412
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01816139
IRS990/TotalOtherCompensationAmt02933
IRS990/TotalOtherProgSrvcExpenseAmt00
IRS990/TotalOtherProgSrvcGrantAmt00
IRS990/TotalOtherProgSrvcRevenueAmt00
IRS990/TotalOthProgramServiceRevGrp/ExclusionAmt00
IRS990/TotalOthProgramServiceRevGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalOthProgramServiceRevGrp/TotalRevenueColumnAmt00
IRS990/TotalOthProgramServiceRevGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalProgramServiceExpensesAmt00
IRS990/TotalProgramServiceRevenueAmt0365237
IRS990/TotalReportableCompFromOrgAmt058663
IRS990/TotalRevenueGrp/ExclusionAmt038335
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0363044
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0403572
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt02193
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt08796683
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt08694234
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/TotalAmt02636
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd01
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0161 Marie Avenue East
IRS990/USAddress/CityNm0West St Paul
IRS990/USAddress/StateAbbreviationCd0MN
IRS990/USAddress/ZIPCd055118
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0www.firstpacecu.com
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02021-04-22 16:20:28Z
ReturnHeader/BusinessOfficerGrp/PersonNm0Jennifer Tiedman
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/PhoneNum06514518495
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-05-14
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/FilingSecurityInformation/IPAddress/IPv4AddressTxt067.40.164.149
ReturnHeader/ReturnTs02020-05-14T13:47:10-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-01-01
ReturnHeader/TaxPeriodEndDt02019-12-31
ReturnHeader/TaxYr02019

Document Assets

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Filings

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