Civic Intelligence

First Pace Credit Union

990 • Fiscal year 2018 • EIN 41-0874898

Jan 01, 2018 to Dec 31, 2018 • Filed on Apr 24, 2019

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

27th percentile

0.80x

Higher debt load relative to assets than 27% of similar nonprofits.

2018 filings • 501(c)14 • $5M-$10M nonprofits • Source year 2018

Liabilities / Revenue

57th percentile

18.42x

Higher debt load relative to revenue than 57% of similar nonprofits.

2018 filings • 501(c)14 • $5M-$10M nonprofits • Source year 2018

Net Margin

54th percentile

9.2%

Higher net margin than 54% of similar nonprofits.

2018 filings • 501(c)14 • $5M-$10M nonprofits • Source year 2018

Top Officer Pay

62nd percentile

$60,669

Higher top officer pay than 62% of similar nonprofits.

Top officer pay equals 15.9% of source-year revenue.

2018 filings • 501(c)14 • $5M-$10M nonprofits • Source year 2018

Asset Growth

48th percentile

-1.0%

Faster asset growth than 48% of similar nonprofits.

2018 filings • 501(c)14 • $5M-$10M nonprofits • Annualized from 2017 to 2018

Revenue Growth

79th percentile

13%

Faster revenue growth than 79% of similar nonprofits.

2018 filings • 501(c)14 • $5M-$10M nonprofits • Annualized from 2017 to 2018

Assets

Down

$8,796,683

Down $91,297 (-1.0%) from 2017

Net Assets

Up

$1,768,412

Up $35,126 (+2.0%) from 2017

Liabilities

Down

$7,028,271

Down $126,423 (-1.8%) from 2017

Revenue

Up

$381,554

Up $44,005 (+13%) from 2017

Expenses

Up

$346,428

Up $22,417 (+6.9%) from 2017

Net Income

Up

$35,126

Up $21,588 (+159%) from 2017

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

2018

Assets$8,796,683
Liabilities$7,028,271
Net Assets$1,768,412

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

2018

Revenue$381,554
Expenses$346,428
Net Income$35,126
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Apr 24, 2019
Return Version
2018v3.0
Gross Receipts
$381,554
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$5,495,270$6,269,433▲ $774,163
Investments Other Securities$2,324,205$2,118,994▼ $205,211
Rtn Earn Endowment Incm Other Fnds$1,733,286$1,768,412▲ $35,126
Investments Program Related$628,707$118,872▼ $509,835
Savings and Temporary Cash Investments$190,624$35,158▼ $155,466
Land, Buildings, and Equipment, Net$8,531$21,892▲ $13,361
Cash and Non-Interest-Bearing Accounts$24,522$20,870▼ $3,652
Prepaid Expenses and Deferred Charges$20,976$13,812▼ $7,164
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$8,887,980$8,796,683▼ $91,297
Other Assets Total$195,145$197,652▲ $2,507
Liabilities
Other Liabilities$7,138,683$7,013,789▼ $124,894
Accounts Payable and Accrued Expenses$16,011$14,482▼ $1,529
Total Liabilities$7,154,694$7,028,271▼ $126,423
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,733,286$1,768,412▲ $35,126
Total Liabilities and Net Assets / Fund Balance$8,887,980$8,796,683▼ $91,297

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$21,892$17,890$39,782
Buildings$0$0$0
Other Land Buildings$0$0$0
Land$0-$0
Leasehold Improvements$0$0$0
Other Securities$100,000--
Closely Held Equity Interests$0--
Financial Derivatives$0--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Jennifer TiedmanPresidentPT$57,780$2,889$60,669

Board Members and Trustees

NameTitle
Doug KrechChairperson
Kevin HoeschenVice-Chairperson
Brian EckerDirector
Deborah SpiessSecretary
Dan GertenTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$326,052
Investment Income
$55,502
Other Revenue
$0
Change in Net Assets
$35,126
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$177,986
Salaries, Compensation, and Employee Benefits$146,613
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$66,307
Office Expenses---$62,730
Current Officers, Directors, Trustees, and Key Employees---$62,034
Information Technology---$29,713
Benefits to Members---$21,829
Occupancy---$20,053
Insurance---$11,578
Payroll Taxes---$9,977
Advertising---$9,591
Depreciation Depletion---$8,702
Conferences and Meetings---$7,408
Other Employee Benefits---$4,810
Pension Plan Contributions---$3,485
Travel---$1,573
Interest---$90
Other Expenses---$-1,458
Total Functional Expenses$0$0$0$346,428
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 Share$5,742,291
Term Share Certificates$883,024
Share Drafts$388,474
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 family members of approximately 1096 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

The 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
2019-04-24

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 Appendix392 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/Form990PartVIISectionAGrp/PersonNm4Brian Ecker
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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 banking, mobile banking with remote deposit, electronic bill pay and online statements to empower the member with tools for good money management.
IRS990/ProgSrvcAccomActy3Grp/Desc0Competitive dividends paid on approximately 1277 share savings accounts, money market accounts, club accounts and term share certificates, to help our 1096 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/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/RoyaltiesRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt01733286
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt01768412
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0190624
IRS990/SavingsAndTempCashInvstGrp/EOYAmt035158
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt00
IRS990ScheduleD/BuildingsGrp/DepreciationAmt00
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/CloselyHeldEquityInterestsGrp/BookValueAmt00
IRS990ScheduleD/EquipmentGrp/BookValueAmt021892
IRS990ScheduleD/EquipmentGrp/DepreciationAmt017890
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt039782
IRS990ScheduleD/FinancialDerivativesGrp/BookValueAmt00
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/Amt05742291
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1388474
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt2883024
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Regular Share
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Share Drafts
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2Term Share Certificates
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt02018994
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt1100000
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Securities-Held To Maturity
IRS990ScheduleD/OtherSecuritiesGrp/Desc1US Gov't Bond
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0C
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd1C
IRS990ScheduleD/TotalBookValueLandBuildingsAmt021892
IRS990ScheduleD/TotalBookValueSecuritiesAmt02118994
IRS990ScheduleD/TotalLiabilityAmt07013789
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Comprised of USW Union members and their family members of approximately 1096 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/ExplanationTxt3The review of Form 990 is done 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 December 10, 2018.
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/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt08887980
IRS990/TotalAssetsEOYAmt08796683
IRS990/TotalAssetsGrp/BOYAmt08887980
IRS990/TotalAssetsGrp/EOYAmt08796683
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0346428
IRS990/TotalGrossUBIAmt02106
IRS990/TotalLiabilitiesBOYAmt07154694
IRS990/TotalLiabilitiesEOYAmt07028271
IRS990/TotalLiabilitiesGrp/BOYAmt07154694
IRS990/TotalLiabilitiesGrp/EOYAmt07028271
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01733286
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01768412
IRS990/TotalOtherCompensationAmt02889
IRS990/TotalOtherProgSrvcExpenseAmt00
IRS990/TotalOtherProgSrvcGrantAmt00
IRS990/TotalOtherProgSrvcRevenueAmt00
IRS990/TotalOthProgramServiceRevGrp/ExclusionAmt00
IRS990/TotalOthProgramServiceRevGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalOthProgramServiceRevGrp/TotalRevenueColumnAmt00
IRS990/TotalOthProgramServiceRevGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalProgramServiceExpensesAmt00
IRS990/TotalProgramServiceRevenueAmt0326052
IRS990/TotalReportableCompFromOrgAmt057780
IRS990/TotalRevenueGrp/ExclusionAmt055502
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0323946
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0381554
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt02106
IRS990/TotalVolunteersCnt08
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt08887980
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt08796683
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/TotalAmt01573
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd01
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0161 Marie Ave E
IRS990/USAddress/CityNm0West St Paul
IRS990/USAddress/StateAbbreviationCd0MN
IRS990/USAddress/ZIPCd055118
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0www.firstpacecu.com
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/PersonNm0Jennifer Tiedman
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/PhoneNum06514518495
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-04-24
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/ReturnTs02019-04-30T14:47:05-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-01-01
ReturnHeader/TaxPeriodEndDt02018-12-31
ReturnHeader/TaxYr02018

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