Civic Intelligence

Danfoss Employees Credit Union

990 • Fiscal year 2020 • EIN 41-6036331

Jan 01, 2020 to Dec 31, 2020 • Filed on Oct 29, 2021

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

85th percentile

0.90x

Higher debt load relative to assets than 85% of similar nonprofits.

2020 filings • 501(c)14 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

38th percentile

15.91x

Higher debt load relative to revenue than 38% of similar nonprofits.

2020 filings • 501(c)14 • $1M-$5M nonprofits • Source year 2020

Net Margin

20th percentile

-14%

Higher net margin than 20% of similar nonprofits.

2020 filings • 501(c)14 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

88th percentile

$60,060

Higher top officer pay than 88% of similar nonprofits.

Top officer pay equals 41.5% of source-year revenue.

2020 filings • 501(c)14 • $1M-$5M nonprofits • Source year 2020

Asset Growth

16th percentile

-1.7%

Faster asset growth than 16% of similar nonprofits.

2020 filings • 501(c)14 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

29th percentile

-13%

Faster revenue growth than 29% of similar nonprofits.

2020 filings • 501(c)14 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets85th percentile

Assets

Down

$2,569,943

Down $44,080 (-1.7%) from 2019

Net Assets

Down

$264,478

Down $20,591 (-7.2%) from 2019

Liabilities

Down

$2,305,465

Down $23,489 (-1.0%) from 2019

Revenue And Expenses
Liabilities / Revenue38th percentileNet Margin20th percentile

Revenue

Down

$144,871

Down $22,499 (-13%) from 2019

Expenses

Down

$165,462

Down $21,763 (-12%) from 2019

Net Income

Down

-$20,591

Down $736 (-3.7%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth16th 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

2020

Assets$2,569,943
Liabilities$2,305,465
Net Assets$264,478
Open 2020 Filing

Operations Trend

Revenue Growth29th 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

2020

Revenue$144,871
Expenses$165,462
Net Income-$20,591
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Oct 29, 2021
Return Version
2020v4.0
Gross Receipts
$149,371
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$1,915,267$1,468,482▼ $446,785
Savings and Temporary Cash Investments$467,059$1,035,581▲ $568,522
Rtn Earn Endowment Incm Other Fnds$285,069$264,478▼ $20,591
Cash and Non-Interest-Bearing Accounts$186,325$46,971▼ $139,354
Investments Program Related$24,500$24,500→ $0
Prepaid Expenses and Deferred Charges$1,060$1,114▲ $54
Total Assets$2,614,023$2,569,943▼ $44,080
Other Assets Total$19,812$-6,705▼ $26,517
Liabilities
Other Liabilities$2,312,120$2,288,116▼ $24,004
Accounts Payable and Accrued Expenses$16,834$17,349▲ $515
Total Liabilities$2,328,954$2,305,465▼ $23,489
Net Assets / Fund Balance
Total Net Assets Fund Balance$285,069$264,478▼ $20,591
Total Liabilities and Net Assets / Fund Balance$2,614,023$2,569,943▼ $44,080
Compensation and Service Providers
Top Officer Pay88th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Ann Healey-allenPresident/ceFT$60,060$60,060

Board Members and Trustees

NameTitle
Steve ZumbuschChairman
Brad HimleVice Chair
David LundquistDirector
Peter LauerSecretary
Jennifer HuffmanTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$6,055
Program Service Revenue
$133,455
Investment Income
$5,044
Other Revenue
$317
All Other Contributions
$6,055
Change in Net Assets
$-20,591
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$100,631
Salaries, Compensation, and Employee Benefits$64,831
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---$60,060
Office Expenses---$54,523
Fees for Services Accounting---$7,034
Insurance---$6,823
Information Technology---$5,632
Payroll Taxes---$4,771
Other Expenses---$3,519
Conferences and Meetings---$1,100
Total Functional Expenses$0$0$0$165,462
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$2,288,116
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
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
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 cpa who completes the return. Management reviews the return for accuracy, and then authorizes cpa to e-file the approved return.”

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

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

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

“The board of directors reviews and approves the compensation for the president/ceo annually.”

Form 990, Page 6, Part VI, Line 19

“Governing documents, conflict of interest policy, 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
Ann Healey-allen
Title
President/CEO
Phone
9529377175
Signed
2021-10-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ann Healey-allen
Formed
1949
Legal Domicile
Mn
Voting Board Members
5
Independent Board Members
5
Employees
1
Volunteers
9

Preparer

Firm
Brent Wookey CPA
Address
PO BOX 1512, LA CROSSE, WI 54602-1512
Preparer
Brent Wookey CPA
Phone
6087920843
Raw XML Appendix313 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 CPA WHO COMPLETES THE RETURN. MANAGEMENT REVIEWS THE RETURN FOR ACCURACY, AND THEN AUTHORIZES CPA TO E-FILE THE APPROVED RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4CONFLIECT OF INTEREST POLICY AND POTENTIAL ISSUES ARE REVIEWED AT BOARD MEETINGS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE BOARD OF DIRECTORS REVIEWS AND APPROVES THE COMPENSATION FOR THE PRESIDENT/CEO ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO MEMBERS UPON REQUEST.
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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
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IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt02614023
IRS990/TotalAssetsEOYAmt02569943
IRS990/TotalAssetsGrp/BOYAmt02614023
IRS990/TotalAssetsGrp/EOYAmt02569943
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt06055
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0165462
IRS990/TotalGrossUBIAmt0144
IRS990/TotalLiabilitiesBOYAmt02328954
IRS990/TotalLiabilitiesEOYAmt02305465
IRS990/TotalLiabilitiesGrp/BOYAmt02328954
IRS990/TotalLiabilitiesGrp/EOYAmt02305465
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0285069
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0264478
IRS990/TotalProgramServiceRevenueAmt0133455
IRS990/TotalReportableCompFromOrgAmt060060
IRS990/TotalRevenueGrp/ExclusionAmt02856
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0135816
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0144871
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt0144
IRS990/TotalVolunteersCnt09
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02614023
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02569943
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01400 TECHNOLOGY DRIVE
IRS990/USAddress/CityNm0EDEN PRAIRIE
IRS990/USAddress/StateAbbreviationCd0MN
IRS990/USAddress/ZIPCd055344
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0WWW.EATONCU.COM
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0ANN HEALEY-ALLEN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT/CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum09529377175
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-10-29
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/PreparerFirmGrp/PreparerFirmEIN0461605712
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BRENT WOOKEY CPA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 1512
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0LA CROSSE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0WI
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0546021512
ReturnHeader/PreparerPersonGrp/PhoneNum06087920843
ReturnHeader/PreparerPersonGrp/PreparationDt02021-11-01
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0BRENT WOOKEY CPA
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02021-11-01T11:05:35-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0ANN
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0HEALEY-ALLEN
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,569,943
Liabilities
$2,305,465
Net assets
$264,478
Revenue
$144,871
Expenses
$165,462
Net income
-$20,591
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
2020Detailed filing. Detailed filing data is available for this year.$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