Civic Intelligence

Danfoss Employees Credit Union

990 • Fiscal year 2013 • EIN 41-6036331

Jan 01, 2013 to Dec 31, 2013 • Filed on Mar 24, 2014

Organization ProfileWWW.EATONCU.COM

View Organization Page

14900 Technology Drive55344

(952) 937-7175

Siviq Scores

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

Liabilities / Assets

83rd percentile

0.90x

Higher debt load relative to assets than 83% of similar nonprofits.

2013 filings • 501(c)14 • $1M-$5M nonprofits • Source year 2013

Liabilities / Revenue

26th percentile

11.70x

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

2013 filings • 501(c)14 • $1M-$5M nonprofits • Source year 2013

Net Margin

64th percentile

5.9%

Higher net margin than 64% of similar nonprofits.

2013 filings • 501(c)14 • $1M-$5M nonprofits • Source year 2013

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2013

Asset Growth

52nd percentile

0.2%

Faster asset growth than 52% of similar nonprofits.

2013 filings • 501(c)14 • $1M-$5M nonprofits • Annualized from 2012 to 2013

Revenue Growth

34th percentile

-2.0%

Faster revenue growth than 34% of similar nonprofits.

2013 filings • $1M-$5M nonprofits • Annualized from 2012 to 2013

Balance Sheet
Liabilities / Assets83rd percentile

Assets

Up

$2,673,943

Up $6,254 (+0.2%) from 2012

Net Assets

Up

$274,361

Up $12,042 (+4.6%) from 2012

Liabilities

Down

$2,399,582

Down $5,788 (-0.2%) from 2012

Revenue And Expenses
Liabilities / Revenue26th percentileNet Margin64th percentile

Revenue

Down

$205,097

Down $4,287 (-2.0%) from 2012

Expenses

Down

$193,055

Down $7,983 (-4.0%) from 2012

Net Income

Up

$12,042

Up $3,696 (+44%) from 2012

Historical Trend

Balance Sheet Trend

Asset Growth52nd percentile

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2010: $2,314,783Liabilities 2010: $2,047,218Net Assets 2010: $267,5652010Assets 2011: $2,640,614Liabilities 2011: $2,386,641Net Assets 2011: $253,9732011Assets 2012: $2,667,689Liabilities 2012: $2,405,370Net Assets 2012: $262,3192012Assets 2013: $2,673,943Liabilities 2013: $2,399,582Net Assets 2013: $274,3612013Assets 2014: $2,875,480Liabilities 2014: $2,593,801Net Assets 2014: $281,6792014Assets 2015: $2,887,583Liabilities 2015: $2,621,621Net Assets 2015: $265,9622015Assets 2016: $2,442,712Liabilities 2016: $2,156,265Net Assets 2016: $286,4472016Assets 2017: $2,636,253Liabilities 2017: $2,341,232Net Assets 2017: $295,0212017Assets 2018: $2,476,913Liabilities 2018: $2,171,989Net Assets 2018: $304,9242018Assets 2019: $2,614,023Liabilities 2019: $2,328,954Net Assets 2019: $285,0692019Assets 2020: $2,569,943Liabilities 2020: $2,305,465Net Assets 2020: $264,4782020Assets 2021: $3,017,621Liabilities 2021: $2,753,077Net Assets 2021: $264,5442021Assets 2022: $3,492,218Liabilities 2022: $3,220,950Net Assets 2022: $271,2682022Assets 2023: $2,818,371Liabilities 2023: $2,541,602Net Assets 2023: $276,7692023Assets 2024: $2,366,162Liabilities 2024: $2,084,807Net Assets 2024: $281,3552024

Highlighted filing

2013

Assets$2,673,943
Liabilities$2,399,582
Net Assets$274,361
Open 2013 Filing

Operations Trend

Revenue Growth34th percentile

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

$300K$200K$100K$0-$100KExpenses 2010: $205,0382010Revenue 2011: $191,917Expenses 2011: $203,694Net Income 2011: -$11,7772011Revenue 2012: $209,384Expenses 2012: $201,038Net Income 2012: $8,3462012Revenue 2013: $205,097Expenses 2013: $193,055Net Income 2013: $12,0422013Revenue 2014: $214,260Expenses 2014: $206,943Net Income 2014: $7,3172014Revenue 2015: $235,513Expenses 2015: $251,230Net Income 2015: -$15,7172015Revenue 2016: $194,309Expenses 2016: $173,824Net Income 2016: $20,4852016Revenue 2017: $170,104Expenses 2017: $161,530Net Income 2017: $8,5742017Revenue 2018: $176,919Expenses 2018: $167,016Net Income 2018: $9,9032018Revenue 2019: $167,370Expenses 2019: $187,225Net Income 2019: -$19,8552019Revenue 2020: $144,871Expenses 2020: $165,462Net Income 2020: -$20,5912020Revenue 2021: $138,612Expenses 2021: $138,546Net Income 2021: $662021Revenue 2022: $150,110Expenses 2022: $143,386Net Income 2022: $6,7242022Revenue 2023: $197,883Expenses 2023: $192,382Net Income 2023: $5,5012023Revenue 2024: $194,373Expenses 2024: $189,787Net Income 2024: $4,5862024

Highlighted filing

2013

Revenue$205,097
Expenses$193,055
Net Income$12,042
Open 2013 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2013 to Dec 31, 2013
Signed
Mar 24, 2014
Return Version
2013v3.1
Gross Receipts
$205,097
Mission and Program Overview

Mission

Meet our members' needs by providing service with a personal touch, cultivating close relationships, offering financial guidance, and safeguarding our members' assets.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$2,088,343$1,866,147▼ $222,196
Savings and Temporary Cash Investments$430,978$612,429▲ $181,451
Rtn Earn Endowment Incm Other Fnds$262,319$274,361▲ $12,042
Cash and Non-Interest-Bearing Accounts$93,485$127,524▲ $34,039
Land, Buildings, and Equipment, Net$5,082$19,195▲ $14,113
Investments Program Related$17,984$17,984→ $0
Prepaid Expenses and Deferred Charges$1,832$565▼ $1,267
Total Assets$2,667,689$2,673,943▲ $6,254
Other Assets Total$29,985$30,099▲ $114
Liabilities
Other Liabilities$2,400,571$2,390,709▼ $9,862
Accounts Payable and Accrued Expenses$4,799$8,873▲ $4,074
Total Liabilities$2,405,370$2,399,582▼ $5,788
Net Assets / Fund Balance
Total Net Assets Fund Balance$262,319$274,361▲ $12,042
Total Liabilities and Net Assets / Fund Balance$2,667,689$2,673,943▲ $6,254

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$16,451$106,577$123,028
Leasehold Improvements$2,744$11,775$14,519
Compensation and Service Providers
Top Officer PayScore unavailable

Employees

NameTitleFull / Part TimeBaseOtherTotal
Theresa BlageoPresidentFT$59,275$7,518$66,793
David RohdeSecretary/msPT$11,295-$11,295

Board Members and Trustees

NameTitle
Steve ZumbuschChairman
Ann Healy-allenVice Chair
David LundquistDirector
Lon StutlebergTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$202,746
Investment Income
$2,038
Other Revenue
$313
Change in Net Assets
$12,042
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$107,289
Salaries, Compensation, and Employee Benefits$85,766
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---$70,570
Office Expenses---$66,684
Information Technology---$16,676
Insurance---$6,368
Payroll Taxes---$6,103
Depreciation Depletion---$5,926
Fees for Services Accounting---$5,803
Pension Plan Contributions---$5,285
Other Employee Benefits---$2,233
Other Salaries and Wages---$1,575
Fees for Services Other---$1,202
Advertising---$319
Interest---$56
Other Expenses---$-4,102
Total Functional Expenses$0$0$0$193,055
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
Members Shares and Deposits$2,390,709
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
Yes
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, Page 6, Part VI, Line 6

“The organization has members. To be a member, you must have a share (savings) account at the credit union.”

Form 990, Page 6, Part VI, Line 7A

“The board of directors is elected by the credit union members. Each member has one vote.”

Form 990, Page 6, Part VI, Line 7B

“A member vote is required for decisions which are beyond the authority of the board of directors. Items which require a membership vote are outlined and specified in our bylaws. Each member has one vote.”

Form 990, Page 6, Part VI, Line 11B

“Management provides necessary data to independent cpa who prepares the return. Management reviews the return for correctness, and then authorizes cpa to e-file the approved return. Management reviews the return with the board at the next board meeting.”

Form 990, Page 6, Part VI, Line 15A

“The board of directors reviews and approves the salaries each year. This is documented in the board minutes.”

Form 990, Page 6, Part VI, Line 15B

“The board of directors reviews and approves the salaries each year. This is documented in the board minutes.”

Form 990, Page 6, Part VI, Line 19

“Financial statements are posted in lobby. Other items available upon request.”

Filing and Contact Details

Filer

EIN
41-6036331
Phone
9529377175

Signing Officer

Name
Theresa Blageo
Title
President
Phone
9529377175
Signed
2014-03-24

Organization Details

Principal Officer
Theresa Blageo
Formed
1949
Legal Domicile
Mn
Voting Board Members
5
Independent Board Members
4
Employees
2

Preparer

Preparer
Brent Wookey CPA
Raw XML Appendix309 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.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION HAS MEMBERS. TO BE A MEMBER, YOU MUST HAVE A SHARE (SAVINGS) ACCOUNT AT THE CREDIT UNION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD OF DIRECTORS IS ELECTED BY THE CREDIT UNION MEMBERS. EACH MEMBER HAS ONE VOTE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2A MEMBER VOTE IS REQUIRED FOR DECISIONS WHICH ARE BEYOND THE AUTHORITY OF THE BOARD OF DIRECTORS. ITEMS WHICH REQUIRE A MEMBERSHIP VOTE ARE OUTLINED AND SPECIFIED IN OUR BYLAWS. EACH MEMBER HAS ONE VOTE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3MANAGEMENT PROVIDES NECESSARY DATA TO INDEPENDENT CPA WHO PREPARES THE RETURN. MANAGEMENT REVIEWS THE RETURN FOR CORRECTNESS, AND THEN AUTHORIZES CPA TO E-FILE THE APPROVED RETURN. MANAGEMENT REVIEWS THE RETURN WITH THE BOARD AT THE NEXT BOARD MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE BOARD OF DIRECTORS REVIEWS AND APPROVES THE SALARIES EACH YEAR. THIS IS DOCUMENTED IN THE BOARD MINUTES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE BOARD OF DIRECTORS REVIEWS AND APPROVES THE SALARIES EACH YEAR. THIS IS DOCUMENTED IN THE BOARD MINUTES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6FINANCIAL STATEMENTS ARE POSTED IN LOBBY. OTHER ITEMS AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt02667689
IRS990/TotalAssetsEOYAmt02673943
IRS990/TotalAssetsGrp/BOYAmt02667689
IRS990/TotalAssetsGrp/EOYAmt02673943
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0193055
IRS990/TotalGrossUBIAmt01338
IRS990/TotalLiabilitiesBOYAmt02405370
IRS990/TotalLiabilitiesEOYAmt02399582
IRS990/TotalLiabilitiesGrp/BOYAmt02405370
IRS990/TotalLiabilitiesGrp/EOYAmt02399582
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0262319
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0274361
IRS990/TotalOtherCompensationAmt07518
IRS990/TotalProgramServiceRevenueAmt0202746
IRS990/TotalReportableCompFromOrgAmt070570
IRS990/TotalRevenueGrp/ExclusionAmt02351
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0201408
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0205097
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt01338
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02667689
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02673943
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0true
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1014900 TECHNOLOGY DRIVE
IRS990/USAddress/City0EDEN PRAIRIE
IRS990/USAddress/State0MN
IRS990/USAddress/ZIPCode055344
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0WWW.EATONCU.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02015-11-30 17:44:51Z
ReturnHeader/BusinessOfficerGrp/PersonNm0THERESA BLAGEO
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum09529377175
ReturnHeader/BusinessOfficerGrp/SignatureDt02014-03-24
ReturnHeader/Filer/BusinessName/BusinessNameLine10EATON EMPLOYEES CREDIT UNION
ReturnHeader/Filer/BusinessNameControlTxt0EATO
ReturnHeader/Filer/EIN0416036331
ReturnHeader/Filer/PhoneNum09529377175
ReturnHeader/Filer/USAddress/AddressLine1014900 TECHNOLOGY DRIVE
ReturnHeader/Filer/USAddress/City0EDEN PRAIRIE
ReturnHeader/Filer/USAddress/State0MN
ReturnHeader/Filer/USAddress/ZIPCode055344
ReturnHeader/PreparerPersonGrp/PreparationDt02014-03-31
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0BRENT WOOKEY CPA
ReturnHeader/ReturnTs02014-03-31T15:03:24-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02013-01-01
ReturnHeader/TaxPeriodEndDt02013-12-31
ReturnHeader/TaxYr02013

Document Assets

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Filings

Displayed year

2013 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,673,943
Liabilities
$2,399,582
Net assets
$274,361
Revenue
$205,097
Expenses
$193,055
Net income
$12,042
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.37$2.08$0.28$0.19$0.19$0.00
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.82$2.54$0.28$0.20$0.19$0.01
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.49$3.22$0.27$0.15$0.14$0.01
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.02$2.75$0.26$0.14$0.14$0.00
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.57$2.31$0.26$0.14$0.17$0.02
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.61$2.33$0.29$0.17$0.19$0.02
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.48$2.17$0.30$0.18$0.17$0.01
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.64$2.34$0.30$0.17$0.16$0.01
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.44$2.16$0.29$0.19$0.17$0.02
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.89$2.62$0.27$0.24$0.25$0.02
2014Detailed filing. Detailed filing data is available for this year.$2.88$2.59$0.28$0.21$0.21$0.01
2013Detailed filing. Detailed filing data is available for this year.$2.67$2.40$0.27$0.21$0.19$0.01
2012Summary only. Only limited summary data is available for this year.$2.67$2.41$0.26$0.21$0.20$0.01
2011Summary only. Only limited summary data is available for this year.$2.64$2.39$0.25$0.19$0.20$0.01
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.31$2.05$0.27$0.21
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2013 filings • 501(c)14 • $1M-$5M nonprofits