Civic Intelligence

Danfoss Employees Credit Union

990 • Fiscal year 2016 • EIN 41-6036331

Jan 01, 2016 to Dec 31, 2016 • Filed on Oct 31, 2017

Organization ProfileWWW.EATONCU.COM

View Organization Page

14900 Technology DriveEden Prairie, MN 55344

(952) 937-7175

Siviq Scores

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

Liabilities / Assets

77th percentile

0.88x

Higher debt load relative to assets than 77% of similar nonprofits.

2016 filings • 501(c)14 • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

21st percentile

11.10x

Higher debt load relative to revenue than 21% of similar nonprofits.

2016 filings • 501(c)14 • $1M-$5M nonprofits • Source year 2016

Net Margin

73rd percentile

11%

Higher net margin than 73% of similar nonprofits.

2016 filings • 501(c)14 • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

60th percentile

$36,140

Higher top officer pay than 60% of similar nonprofits.

Top officer pay equals 18.6% of source-year revenue.

2016 filings • 501(c)14 • $1M-$5M nonprofits • Source year 2016

Asset Growth

6th percentile

-15%

Faster asset growth than 6% of similar nonprofits.

2016 filings • 501(c)14 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

5th percentile

-17%

Faster revenue growth than 5% of similar nonprofits.

2016 filings • 501(c)14 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets77th percentile

Assets

Down

$2,442,712

Down $444,871 (-15%) from 2015

Net Assets

Up

$286,447

Up $20,485 (+7.7%) from 2015

Liabilities

Down

$2,156,265

Down $465,356 (-18%) from 2015

Revenue And Expenses
Liabilities / Revenue21st percentileNet Margin73rd percentile

Revenue

Down

$194,309

Down $41,204 (-17%) from 2015

Expenses

Down

$173,824

Down $77,406 (-31%) from 2015

Net Income

Up

$20,485

Up $36,202 (+230%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth6th 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

2016

Assets$2,442,712
Liabilities$2,156,265
Net Assets$286,447
Open 2016 Filing

Operations Trend

Revenue Growth5th 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

2016

Revenue$194,309
Expenses$173,824
Net Income$20,485
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Oct 31, 2017
Return Version
2016v3.0
Gross Receipts
$194,309
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$2,050,297$1,894,601▼ $155,696
Savings and Temporary Cash Investments$691,799$343,592▼ $348,207
Rtn Earn Endowment Incm Other Fnds$265,962$286,447▲ $20,485
Cash and Non-Interest-Bearing Accounts$84,079$143,818▲ $59,739
Investments Program Related$12,000$12,000→ $0
Land, Buildings, and Equipment, Net$10,958$6,245▼ $4,713
Prepaid Expenses and Deferred Charges$1,103$1,176▲ $73
Total Assets$2,887,583$2,442,712▼ $444,871
Other Assets Total$37,347$41,280▲ $3,933
Liabilities
Other Liabilities$2,614,142$2,137,077▼ $477,065
Accounts Payable and Accrued Expenses$7,479$19,188▲ $11,709
Total Liabilities$2,621,621$2,156,265▼ $465,356
Net Assets / Fund Balance
Total Net Assets Fund Balance$265,962$286,447▲ $20,485
Total Liabilities and Net Assets / Fund Balance$2,887,583$2,442,712▼ $444,871

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$6,245$15,833$22,078
Leasehold Improvements-$14,519$14,519
Compensation and Service Providers
Top Officer Pay60th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Laura CunninghamPresident/ceFT$36,140-$36,140
Theresa BlageoPres-partialFT$8,365$2,081$10,446
David RohdeSecretary /PT$9,480-$9,480

Board Members and Trustees

NameTitle
Steve ZumbuschChairman
Lon StutlebergVice Chair
David LundquistDirector
Ann Healy-allenTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$191,467
Investment Income
$1,998
Other Revenue
$844
Change in Net Assets
$20,485
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$113,445
Salaries, Compensation, and Employee Benefits$60,379
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Office Expenses---$76,503
Current Officers, Directors, Trustees, and Key Employees---$53,985
Insurance---$6,760
Information Technology---$5,471
Other Expenses---$5,000
Depreciation Depletion---$4,600
Fees for Services Other---$4,500
Payroll Taxes---$4,313
Conferences and Meetings---$3,439
Fees for Services Accounting---$1,811
Other Employee Benefits---$1,581
Pension Plan Contributions---$500
Interest---$39
Total Functional Expenses$0$0$0$173,824
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$2,137,077
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
Yes
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, one 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 preparer who completes the return. Management reviews the return for accuracy, and then authorizes preparer to e-file the approved return. Management reviews the return with the directors at the next board meeting.”

Form 990, Page 6, Part VI, Line 12C

“Confliect of interest policy and issues are reviewed at board meetings.”

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 19

“Governing documents and financial statements are available to members upon request.”

Filing and Contact Details

Filer

Filer Name
Eaton Employees Credit Union
EIN
41-6036331
Phone
9529377175
Address
14900 TECHNOLOGY DRIVE, EDEN PRAIRIE, MN 55344

Signing Officer

Name
Laura Cunningham
Title
President/CEO
Phone
9529377175
Signed
2017-10-31

Organization Details

Principal Officer
Laura Cunningham
Formed
1949
Legal Domicile
Mn
Voting Board Members
5
Independent Board Members
4
Employees
2

Preparer

Preparer
Peter Rasmussen
Raw XML Appendix320 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, ONE 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 PREPARER WHO COMPLETES THE RETURN. MANAGEMENT REVIEWS THE RETURN FOR ACCURACY, AND THEN AUTHORIZES PREPARER TO E-FILE THE APPROVED RETURN. MANAGEMENT REVIEWS THE RETURN WITH THE DIRECTORS AT THE NEXT BOARD MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4CONFLIECT OF INTEREST POLICY AND ISSUES ARE REVIEWED AT BOARD MEETINGS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE BOARD OF DIRECTORS REVIEWS AND APPROVES THE SALARIES EACH YEAR. THIS IS DOCUMENTED IN THE BOARD MINUTES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE TO MEMBERS 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 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 15A
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/TotalAssetsBOYAmt02887583
IRS990/TotalAssetsEOYAmt02442712
IRS990/TotalAssetsGrp/BOYAmt02887583
IRS990/TotalAssetsGrp/EOYAmt02442712
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0173824
IRS990/TotalGrossUBIAmt01380
IRS990/TotalLiabilitiesBOYAmt02621621
IRS990/TotalLiabilitiesEOYAmt02156265
IRS990/TotalLiabilitiesGrp/BOYAmt02621621
IRS990/TotalLiabilitiesGrp/EOYAmt02156265
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0265962
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0286447
IRS990/TotalOtherCompensationAmt02081
IRS990/TotalProgramServiceRevenueAmt0191467
IRS990/TotalReportableCompFromOrgAmt053985
IRS990/TotalRevenueGrp/ExclusionAmt02842
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0190087
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0194309
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt01380
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02887583
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02442712
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0true
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt014900 TECHNOLOGY DRIVE
IRS990/USAddress/CityNm0EDEN PRAIRIE
IRS990/USAddress/StateAbbreviationCd0MN
IRS990/USAddress/ZIPCd055344
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0WWW.EATONCU.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/PersonNm0LAURA CUNNINGHAM
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT/CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum09529377175
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-10-31
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0EATON EMPLOYEES CREDIT UNION
ReturnHeader/Filer/BusinessNameControlTxt0EATO
ReturnHeader/Filer/EIN0416036331
ReturnHeader/Filer/PhoneNum09529377175
ReturnHeader/Filer/USAddress/AddressLine1Txt014900 TECHNOLOGY DRIVE
ReturnHeader/Filer/USAddress/CityNm0EDEN PRAIRIE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MN
ReturnHeader/Filer/USAddress/ZIPCd055344
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId04C5A70F7A5FDA4811252E2883A9E531D3168B42F
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId09BC338CFDC890234D28751759F3912E6BC56CABB
ReturnHeader/PreparerPersonGrp/PreparationDt02017-11-02
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0PETER RASMUSSEN
ReturnHeader/ReturnTs02017-11-02T15:26:17-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-01-01
ReturnHeader/TaxPeriodEndDt02016-12-31
ReturnHeader/TaxYr02016

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,442,712
Liabilities
$2,156,265
Net assets
$286,447
Revenue
$194,309
Expenses
$173,824
Net income
$20,485
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
2016Detailed filing. Detailed filing data is available for this year.$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