Civic Intelligence

Des Moines Water Works Credit Union

EIN 42-0723237 • 501(c)14 • Des Moines, IA

Profile

The organization operates for the primary purpose of promoting thrift, providing credit at reasonable rates, and providing other services to its members.

2201 George Flagg ParkwayDes Moines, IA 50321-1190

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on the latest valid filing.

Source year 2022

Liabilities / Revenue

96th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)14 • <$500k nonprofits • Source year 2022

Net Margin

12th percentile

-475%

Higher net margin than 12% of similar nonprofits.

501(c)14 • <$500k nonprofits • Source year 2022

Top Officer Pay

39th percentile

$10,659

Higher top officer pay than 39% of similar nonprofits.

Top officer pay equals 79.9% of source-year revenue.

501(c)14 • <$500k nonprofits • Source year 2022

Asset Growth

95th percentile

-100%

Faster asset growth than 95% of similar nonprofits.

501(c)14 • <$500k nonprofits • Annualized from 2021 to 2022

Revenue Growth

27th percentile

-72%

Faster revenue growth than 27% of similar nonprofits.

501(c)14 • <$500k nonprofits • Annualized from 2021 to 2022

Assets

Down

$0

Down $1,219,871 (-100%) from 2021

Liabilities

Down

$0

Down $1,032,626 (-100%) from 2021

Net Assets

Down

$0

Down $187,245 (-100%) from 2021

Revenue

Down

$13,345

Down $34,051 (-72%) from 2021

Expenses

Up

$76,706

Up $27,452 (+56%) from 2021

Net Income

Down

-$63,361

Down $61,503 (-3310%) from 2021

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$2.0M$1.5M$1.0M$500K$0Assets 2013: $1,605,203Liabilities 2013: $1,429,703Net Assets 2013: $175,5002013Assets 2014: $1,588,380Liabilities 2014: $1,411,895Net Assets 2014: $176,4852014Assets 2015: $1,576,013Liabilities 2015: $1,395,267Net Assets 2015: $180,7462015Assets 2016: $1,539,852Liabilities 2016: $1,355,968Net Assets 2016: $183,8842016Assets 2017: $1,491,342Liabilities 2017: $1,310,536Net Assets 2017: $180,8062017Assets 2018: $1,415,475Liabilities 2018: $1,231,518Net Assets 2018: $183,9572018Assets 2019: $1,478,752Liabilities 2019: $1,289,760Net Assets 2019: $188,9922019Assets 2020: $1,495,050Liabilities 2020: $1,305,947Net Assets 2020: $189,1032020Assets 2021: $1,219,871Liabilities 2021: $1,032,626Net Assets 2021: $187,2452021Assets 2022: $0Liabilities 2022: $0Net Assets 2022: $02022

Highlighted filing

2022

Assets$0
Liabilities$0
Net Assets$0

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$100K$50K$0-$50K-$100KRevenue 2013: $63,729Expenses 2013: $62,803Net Income 2013: $9262013Revenue 2014: $59,306Expenses 2014: $58,320Net Income 2014: $9862014Revenue 2015: $61,038Expenses 2015: $58,977Net Income 2015: $2,0612015Revenue 2016: $60,346Expenses 2016: $57,208Net Income 2016: $3,1382016Revenue 2017: $55,154Expenses 2017: $58,232Net Income 2017: -$3,0782017Revenue 2018: $62,105Expenses 2018: $58,953Net Income 2018: $3,1522018Revenue 2019: $63,531Expenses 2019: $58,496Net Income 2019: $5,0352019Revenue 2020: $56,071Expenses 2020: $55,960Net Income 2020: $1112020Revenue 2021: $47,396Expenses 2021: $49,254Net Income 2021: -$1,8582021Revenue 2022: $13,345Expenses 2022: $76,706Net Income 2022: -$63,3612022

Highlighted filing

2022

Revenue$13,345
Expenses$76,706
Net Income-$63,361

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to May 2, 2022
Signed
Aug 9, 2022
Return Version
2021v4.2
Gross Receipts
$13,345
Mission and Program Overview

Mission

The organization operates for the primary purpose of promoting thrift, providing credit at reasonable rates, and providing other services to its members.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$808,963$0▼ $808,963
Savings and Temporary Cash Investments$219,506$0▼ $219,506
Investments Program Related$177,411$0▼ $177,411
Rtn Earn Endowment Incm Other Fnds$130,277$0▼ $130,277
Pd in Cap Srpls Land Bldg Eqp Fund$56,968$0▼ $56,968
Land, Buildings, and Equipment, Net$3,739$0▼ $3,739
Prepaid Expenses and Deferred Charges$2,364$0▼ $2,364
Cash and Non-Interest-Bearing Accounts-$0-
Accounts Receivable-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments in Publicly Traded Securities-$0-
Cap Stk Tr Prin Current Funds$0$0→ $0
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$1,219,871$0▼ $1,219,871
Other Assets Total$7,888$0▼ $7,888
Liabilities
Other Liabilities$1,031,431$0▼ $1,031,431
Accounts Payable and Accrued Expenses$1,195$0▼ $1,195
Total Liabilities$1,032,626$0▼ $1,032,626
Net Assets / Fund Balance
Total Net Assets Fund Balance$187,245$0▼ $187,245
Total Liabilities and Net Assets / Fund Balance$1,219,871$0▼ $1,219,871
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Norma ThompsonManagerPT$9,719$940$10,659

Board Members and Trustees

NameTitle
Dawn HinnenkampChairperson
Jo BrouwerVice Chairperson
Matt SmithBoard Member
Michelle WatsonBoard Member
Robert WrightBoard Member
Jim AndersonActing CEO
August HinnenkampAudit Committee
Charlene HarperAudit Committee
Dave HowardCFO
Donna HeckmanSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$13,205
Investment Income
$139
Other Revenue
$1
Change in Net Assets
$-63,361
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$65,261
Salaries, Compensation, and Employee Benefits$11,445
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$10,659--$10,659
Office Expenses$8,989--$8,989
Insurance$1,240--$1,240
Payroll Taxes$786--$786
Other Expenses$219--$219
All Other Expenses$25--$25
Interest$-42--$-42
Total Functional Expenses$76,706$0$0$76,706
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

The chariperson is married to a member of board of directors who is also on the audit committee.

Form 990, Part VI, Section A, Line 6

The organization is a credit union with members.

Form 990, Part VI, Section A, Line 7A

Members elect the board members at the annual meeting held the last monday of march.

Form 990, Part VI, Section B, Line 11B

The form 990 is reviewed and signed by the manger. The board of directors do not review the return prior to the manager signing it.

Form 990, Part VI, Section B, Line 12C

The conflict of interest policy is monitored by the audit committee.

Form 990, Part VI, Section C, Line 19

Financial statements are posted in the office. All other documents are in policy book. All members have access to the policy books.

Form 990, Part VII, Column A, Line 11

Des moines water works credit union merged with des moines metro credit union in may 2022. Jim anderson, the current ceo of des moines metro is the acting ceo for des moines water works credit union.

Filing and Contact Details

Filer

Filer Name
Des Moines Water Works Credit Union
EIN
42-0723237
Phone
5152821908
Address
2201 GEORGE FLAGG PARKWAY, DES MOINES, IA 50321-1190

Signing Officer

Name
Jim Anderson
Title
Acting CEO
Phone
5152821908
Signed
2022-08-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jim Anderson
Formed
1933
Legal Domicile
Ia
Voting Board Members
9
Independent Board Members
9
Employees
1
Volunteers
0

Preparer

Firm
Gardiner Company Pc
Address
10555 NEW YORK AVENUE SUITE 200, DES MOINES, IA 50322
Preparer
Dennis Gardiner CPA
Phone
5152701446
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Retained earnings - transfered due to merger -123,884.

Raw XML AppendixShowing 400 of 427 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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IRS990/ScheduleBRequiredInd00
IRS990/ScheduleJRequiredInd00
IRS990ScheduleN/AssetsDistributedInd00
IRS990ScheduleN/AttorneyGeneralNotifiedInd00
IRS990ScheduleN/BondsOutstandingInd00
IRS990ScheduleN/DirectorOfSuccessorInd00
IRS990ScheduleN/EmployeeOfSuccessorInd00
IRS990ScheduleN/LiabilitiesPaidInd00
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc0SAVINGS AND TEMPORARY CASH INVESTMENTS
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc1NOTES AND LOANS RECIEVABLE
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc2INVESTMENTS-PROGRAM RELATED
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc3OTHER ASSETS
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/BusinessName/BusinessNameLine1Txt0DES MOINES METRO CREDIT UNION
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/BusinessName/BusinessNameLine1Txt1DES MOINES METRO CREDIT UNION
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/BusinessName/BusinessNameLine1Txt2DES MOINES METRO CREDIT UNION
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/BusinessName/BusinessNameLine1Txt3DES MOINES METRO CREDIT UNION
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt02022-05-02
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt12022-05-02
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt22022-05-02
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt32022-05-02
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/EIN0420214646
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/EIN1420214646
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/EIN2420214646
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/EIN3420214646
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/FairMarketValueOfAssetAmt0187745
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/FairMarketValueOfAssetAmt1681761
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/FairMarketValueOfAssetAmt2177511
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/FairMarketValueOfAssetAmt37367
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/IRCSectionTxt05019(C)(14)
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/IRCSectionTxt15019(C)(14)
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/IRCSectionTxt25019(C)(14)
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/IRCSectionTxt35019(C)(14)
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/MethodOfFMVDeterminationTxt0MERGER - BOOK BASIS TRANSFERED TO SUCCESSOR
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/MethodOfFMVDeterminationTxt1MERGER - BOOK BASIS TRANSFERED TO SUCCESSOR
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/MethodOfFMVDeterminationTxt2MERGER - BOOK BASIS TRANSFERED TO SUCCESSOR
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/MethodOfFMVDeterminationTxt3MERGER - BOOK BASIS TRANSFERED TO SUCCESSOR
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/AddressLine1Txt0100 UNIVERSITY AVENUE
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/AddressLine1Txt1100 UNIVERSITY AVENUE
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/AddressLine1Txt2100 UNIVERSITY AVENUE
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/AddressLine1Txt3100 UNIVERSITY AVENUE
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/CityNm0DES MOINES
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/CityNm1DES MOINES
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/CityNm2DES MOINES
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/CityNm3DES MOINES
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/StateAbbreviationCd0IA
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/StateAbbreviationCd1IA
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/StateAbbreviationCd2IA
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/StateAbbreviationCd3IA
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/ZIPCd050314
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/ZIPCd150314
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/ZIPCd250314
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/ZIPCd350314
IRS990ScheduleN/OwnerOfSuccessorInd00
IRS990ScheduleN/ReceiveCompensationInd00
IRS990ScheduleN/RequiredToNotifyAGInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE CHARIPERSON IS MARRIED TO A MEMBER OF BOARD OF DIRECTORS WHO IS ALSO ON THE AUDIT COMMITTEE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION IS A CREDIT UNION WITH MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2MEMBERS ELECT THE BOARD MEMBERS AT THE ANNUAL MEETING HELD THE LAST MONDAY OF MARCH.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE FORM 990 IS REVIEWED AND SIGNED BY THE MANGER. THE BOARD OF DIRECTORS DO NOT REVIEW THE RETURN PRIOR TO THE MANAGER SIGNING IT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE CONFLICT OF INTEREST POLICY IS MONITORED BY THE AUDIT COMMITTEE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5FINANCIAL STATEMENTS ARE POSTED IN THE OFFICE. ALL OTHER DOCUMENTS ARE IN POLICY BOOK. ALL MEMBERS HAVE ACCESS TO THE POLICY BOOKS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6DES MOINES WATER WORKS CREDIT UNION MERGED WITH DES MOINES METRO CREDIT UNION IN MAY 2022. JIM ANDERSON, THE CURRENT CEO OF DES MOINES METRO IS THE ACTING CEO FOR DES MOINES WATER WORKS CREDIT UNION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7RETAINED EARNINGS - TRANSFERED DUE TO MERGER -123,884.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, 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 B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART VII, COLUMN A, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART XI, LINE 9:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd01
IRS990/TotalAssetsBOYAmt01219871
IRS990/TotalAssetsEOYAmt00
IRS990/TotalAssetsGrp/BOYAmt01219871
IRS990/TotalAssetsGrp/EOYAmt00
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt076706
IRS990/TotalFunctionalExpensesGrp/TotalAmt076706
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01032626
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt01032626
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0187245
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt00
IRS990/TotalOtherCompensationAmt0940
IRS990/TotalProgramServiceExpensesAmt076706
IRS990/TotalProgramServiceRevenueAmt013205
IRS990/TotalReportableCompFromOrgAmt09719
IRS990/TotalRevenueGrp/ExclusionAmt0139
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt013206
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt013345
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01219871
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt00
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt02201 GEORGE FLAGG PARKWAY
IRS990/USAddress/CityNm0DES MOINES
IRS990/USAddress/StateAbbreviationCd0IA
IRS990/USAddress/ZIPCd0503211190
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01

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