Civic Intelligence

1 St Gateway Credit Union

990 • Fiscal year 2023 • EIN 42-0802440

Jan 01, 2023 to Dec 31, 2023 • Filed on May 07, 2024

Organization ProfileWWW.1STGATEWAY.ORG

View Organization Page

PO Box 110Camanche, IA 52730

(563) 543-4121

Siviq Scores

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

Liabilities / Assets

21st percentile

0.86x

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

2023 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2023

Liabilities / Revenue

27th percentile

14.57x

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

2023 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2023

Net Margin

49th percentile

13%

Higher net margin than 49% of similar nonprofits.

2023 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2023

Top Officer Pay

73rd percentile

$285,470

Higher top officer pay than 73% of similar nonprofits.

Top officer pay equals 3.0% of source-year revenue.

2023 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2023

Asset Growth

14th percentile

-5.0%

Faster asset growth than 14% of similar nonprofits.

2023 filings • 501(c)14 • $100M-$250M nonprofits • Annualized from 2022 to 2023

Revenue Growth

11th percentile

9.3%

Faster revenue growth than 11% of similar nonprofits.

2023 filings • 501(c)14 • $100M-$250M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets21st percentile

Assets

Down

$159,056,358

Down $8,285,578 (-5.0%) from 2022

Net Assets

Up

$21,977,408

Up $1,244,999 (+6.0%) from 2022

Liabilities

Down

$137,078,950

Down $9,530,577 (-6.5%) from 2022

Revenue And Expenses
Liabilities / Revenue27th percentileNet Margin49th percentile

Revenue

Up

$9,405,272

Up $798,349 (+9.3%) from 2022

Expenses

Up

$8,160,273

Up $643,350 (+8.6%) from 2022

Net Income

Up

$1,244,999

Up $154,999 (+14%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth14th percentile

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

$200M$150M$100M$50M$0Assets 2010: $75,818,338Liabilities 2010: $69,195,403Net Assets 2010: $6,622,9352010Assets 2012: $85,378,301Liabilities 2012: $77,033,057Net Assets 2012: $8,345,2442012Assets 2013: $90,542,443Liabilities 2013: $81,122,199Net Assets 2013: $9,420,2442013Assets 2014: $105,905,806Liabilities 2014: $95,425,562Net Assets 2014: $10,480,2442014Assets 2015: $124,655,099Liabilities 2015: $112,267,692Net Assets 2015: $12,387,4072015Assets 2016: $132,957,545Liabilities 2016: $119,090,138Net Assets 2016: $13,867,4072016Assets 2017: $137,543,638Liabilities 2017: $122,291,229Net Assets 2017: $15,252,4092017Assets 2018: $147,772,817Liabilities 2018: $131,225,408Net Assets 2018: $16,547,4092018Assets 2019: $161,079,395Liabilities 2019: $143,526,986Net Assets 2019: $17,552,4092019Assets 2020: $178,043,092Liabilities 2020: $159,385,683Net Assets 2020: $18,657,4092020Assets 2021: $176,575,582Liabilities 2021: $156,933,173Net Assets 2021: $19,642,4092021Assets 2022: $167,341,936Liabilities 2022: $146,609,527Net Assets 2022: $20,732,4092022Assets 2023: $159,056,358Liabilities 2023: $137,078,950Net Assets 2023: $21,977,4082023Assets 2024: $164,181,923Liabilities 2024: $141,354,514Net Assets 2024: $22,827,4092024

Highlighted filing

2023

Assets$159,056,358
Liabilities$137,078,950
Net Assets$21,977,408
Open 2023 Filing

Operations Trend

Revenue Growth11th percentile

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

$15M$10M$5.0M$0Expenses 2010: $3,827,0552010Expenses 2012: $4,030,2192012Revenue 2013: $5,119,482Expenses 2013: $4,044,482Net Income 2013: $1,075,0002013Revenue 2014: $5,823,827Expenses 2014: $4,763,827Net Income 2014: $1,060,0002014Revenue 2015: $6,785,336Expenses 2015: $5,505,338Net Income 2015: $1,279,9982015Revenue 2016: $7,081,084Expenses 2016: $5,601,084Net Income 2016: $1,480,0002016Revenue 2017: $7,317,059Expenses 2017: $5,932,057Net Income 2017: $1,385,0022017Revenue 2018: $7,952,305Expenses 2018: $6,657,305Net Income 2018: $1,295,0002018Revenue 2019: $8,664,766Expenses 2019: $7,659,766Net Income 2019: $1,005,0002019Revenue 2020: $8,497,512Expenses 2020: $7,392,512Net Income 2020: $1,105,0002020Revenue 2021: $8,014,799Expenses 2021: $7,029,799Net Income 2021: $985,0002021Revenue 2022: $8,606,923Expenses 2022: $7,516,923Net Income 2022: $1,090,0002022Revenue 2023: $9,405,272Expenses 2023: $8,160,273Net Income 2023: $1,244,9992023Revenue 2024: $10,262,592Expenses 2024: $9,412,592Net Income 2024: $850,0002024

Highlighted filing

2023

Revenue$9,405,272
Expenses$8,160,273
Net Income$1,244,999
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
May 7, 2024
Return Version
2023v5.0
Gross Receipts
$9,405,272
Mission and Program Overview

Mission

Non-profit financial working to help consumers invest and borrow at the best rates and terms.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$131,625,380$132,882,793▲ $1,257,413
Cash and Non-Interest-Bearing Accounts$6,930,082$12,096,003▲ $5,165,921
Rtn Earn Endowment Incm Other Fnds$10,688,094$11,933,093▲ $1,244,999
Pd in Cap Srpls Land Bldg Eqp Fund$8,939,315$8,939,315→ $0
Savings and Temporary Cash Investments$22,266,318$8,407,384▼ $13,858,934
Land, Buildings, and Equipment, Net$3,230,186$3,104,471▼ $125,715
Cap Stk Tr Prin Current Funds$1,105,000$1,105,000→ $0
Prepaid Expenses and Deferred Charges$374,836$238,739▼ $136,097
Receivables From Officers Etc$251,615$219,480▼ $32,135
Accounts Receivable$179,899$-344,047▼ $523,946
Total Assets$167,341,936$159,056,358▼ $8,285,578
Other Assets Total$2,483,620$2,451,535▼ $32,085
Liabilities
Other Liabilities$140,371,693$133,230,335▼ $7,141,358
Mortgage Notes Payable Secured by Investment Property$4,300,000$3,000,000▼ $1,300,000
Accounts Payable and Accrued Expenses$1,937,834$848,615▼ $1,089,219
Total Liabilities$146,609,527$137,078,950▼ $9,530,577
Net Assets / Fund Balance
Total Net Assets Fund Balance$20,732,409$21,977,408▲ $1,244,999
Total Liabilities and Net Assets / Fund Balance$167,341,936$159,056,358▼ $8,285,578

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,719,306$2,227,671$3,946,977
Equipment$924,136$745,840$1,669,976
Land$461,029-$461,029
Compensation and Service Providers
Top Officer Pay73rd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Patrick J DrennenCEOFT$285,470$285,470
Angela DruryCOOFT$149,973$149,973
Jenna PaysenCFOFT$98,545$98,545

Board Members and Trustees

NameTitle
Ann EisenmanBoard
Brian JohnsonBoard
Gary HainesBoard
Kerry KennedyBoard
Lanny ReedBoard
Marilyn RasmussenBoard
Rosann RaymondBoard
Steve CundiffBoard
Steve ZuidemaBoard
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$7,090,664
Investment Income
$933,274
Other Revenue
$1,381,334
Change in Net Assets
$1,244,999

Audited Revenue Reconciliation

Revenue per Audited Statements
$9,405,272
Total Revenue per Audited Statements
$9,405,272
Total Revenue per Form 990
$9,405,272
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$4,969,048
Salaries, Compensation, and Employee Benefits$3,191,225
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$2,012,599
Interest---$1,733,361
Occupancy---$875,662
Current Officers, Directors, Trustees, and Key Employees---$533,988
Office Expenses---$297,332
Other Employee Benefits---$294,993
Depreciation Depletion---$209,992
Payroll Taxes---$192,263
Other Expenses---$161,683
Pension Plan Contributions---$157,382
All Other Expenses---$139,058
Advertising---$107,634
Insurance---$82,659
Travel---$48,842
Fees for Services Accounting---$33,000
Payments to Affiliates---$31,218
Information Technology---$14,491
Conferences and Meetings---$8,000
Fees for Services Legal---$4,852
Total Functional Expenses$0$0$0$8,160,273

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$8,160,273
Total Expenses per Audited Statements$8,160,273
Total Expenses per Form 990$8,160,273
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 Officers, Directors, Trustees, and Key Employees$251,615$219,480▼ $32,135
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Shares$133,230,335
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
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

“1st gateway credit union has an audit committee which is compromised of 3 board members and the coo. The committee solicits the cpa for the opinion audit and the audit chair signs the contract to perform the audit. No changes in processes from prior years. Please note: audited financial statements were issued for the year ending august 31, 2020. The financial information recorded on form 990 was based on unaudited financial statements for the tax year ending december 31, 2020.”

Form 990, Page 6, Part VI, Line 6

“1st gateway is supported by its members.”

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

“Credit union members are allowed to elect individuals to sit on the organization's board of directors.”

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

“A copy of form 990 was provided to the organization's governing body before it was filed. Both the board and management reviews the return.”

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

“The conflict of interest policy is reviewed annually and management is responsible for monitoring.”

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

“1st gateway credit union has an outside firm (compease) that they utilize to determine appropriate wage scales. Surveys are based on demographics and asset size.”

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

“1st gateway credit union has an outside firm (compease) that they utilize ot determine appropriate wage scales. Surveys are based on demographics and asset size.”

Form 990, Page 6, Part VI, Line 19

“Financial statements are posted in the lobby. Other governing documents are available upon request.”

Filing and Contact Details

Filer

Filer Name
1st Gateway Credit Union
EIN
42-0802440
Phone
5635434121
Address
PO BOX 110, CAMANCHE, IA 52730

Signing Officer

Name
Patrick J Drennen
Title
CEO
Phone
5632434121
Signed
2024-05-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Patrick J Drennen
Formed
1953
Legal Domicile
Ia
Voting Board Members
9
Independent Board Members
9
Employees
57

Preparer

Firm
Anderson Larkin & Co Pc
Address
221 N WAPELLO, OTTUMWA, IA 52501
Preparer
Kenneth E Crosser
Phone
6416845489
Raw XML AppendixShowing 400 of 417 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
IRS990/AccountantCompileOrReviewInd0false
IRS990/AccountsPayableAccrExpnssGrp/BOYAmt01937834
IRS990/AccountsPayableAccrExpnssGrp/EOYAmt0848615
IRS990/AccountsReceivableGrp/BOYAmt0179899
IRS990/AccountsReceivableGrp/EOYAmt0-344047
IRS990/ActivitiesConductedPrtshpInd0false
IRS990/ActivityOrMissionDesc0NON-PROFIT FINANCIAL WORKING TO HELP CONSUMERS INVEST AND BORROW AT THE BEST RATES AND TERMS.
IRS990/AdvertisingGrp/TotalAmt0107634
IRS990/AllOtherExpensesGrp/TotalAmt0139058
IRS990/AnnualDisclosureCoveredPrsnInd0true
IRS990/AuditCommitteeInd0true
IRS990/BackupWthldComplianceInd0true
IRS990/BooksInCareOfDetail/PersonNm0JENNA PAYSEN
IRS990/BooksInCareOfDetail/PhoneNum05632434121
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt0PO BOX 110
IRS990/BooksInCareOfDetail/USAddress/CityNm0CAMANCHE
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0IA
IRS990/BooksInCareOfDetail/USAddress/ZIPCd052730
IRS990/BusinessRlnWith35CtrlEntInd0false
IRS990/BusinessRlnWithFamMemInd0false
IRS990/BusinessRlnWithOrgMemInd0false
IRS990/CapStkTrPrinCurrentFundsGrp/BOYAmt01105000
IRS990/CapStkTrPrinCurrentFundsGrp/EOYAmt01105000
IRS990/CashNonInterestBearingGrp/BOYAmt06930082
IRS990/CashNonInterestBearingGrp/EOYAmt012096003
IRS990/ChangeToOrgDocumentsInd0false
IRS990/CollectionsOfArtInd0false
IRS990/CompCurrentOfcrDirectorsGrp/TotalAmt0533988
IRS990/CompensationFromOtherSrcsInd0false
IRS990/CompensationProcessCEOInd0true
IRS990/CompensationProcessOtherInd0true
IRS990/ConferencesMeetingsGrp/TotalAmt08000
IRS990/ConflictOfInterestPolicyInd0true
IRS990/ConservationEasementsInd0false
IRS990/ConsolidatedAuditFinclStmtInd0false
IRS990/CreditCounselingInd0false
IRS990/CYBenefitsPaidToMembersAmt00
IRS990/CYContributionsGrantsAmt00
IRS990/CYGrantsAndSimilarPaidAmt00
IRS990/CYInvestmentIncomeAmt0933274
IRS990/CYOtherExpensesAmt04969048
IRS990/CYOtherRevenueAmt01381334
IRS990/CYProgramServiceRevenueAmt07090664
IRS990/CYRevenuesLessExpensesAmt01244999
IRS990/CYSalariesCompEmpBnftPaidAmt03191225
IRS990/CYTotalExpensesAmt08160273
IRS990/CYTotalFundraisingExpenseAmt00
IRS990/CYTotalProfFndrsngExpnsAmt00
IRS990/CYTotalRevenueAmt09405272
IRS990/DecisionsSubjectToApprovaInd0false
IRS990/DeductibleArtContributionInd0false
IRS990/DeductibleNonCashContriInd0false
IRS990/DelegationOfMgmtDutiesInd0false
IRS990/DepreciationDepletionGrp/TotalAmt0209992
IRS990/Desc01ST GATEWAY CREDIT UNION ATTEMPTS TO DIFFERENTIATE ITSELF FROM OTHER FINANCIAL ORGANIZATIONS BY EXCELLING AS A "RELATIONSHIP/LOYALTY BUILDER." THE ORGANIZATION'S GOAL IS TO BUILD MUTUALLY BENEFICIAL MEMBER RELATIONSHIPS THAT PROVIDE SUPERIOR OVERAL SOLUTION TO EACH INDIVIDUAL FINANCIAL SERVICES NEEDS.
IRS990/DescribedInSection501c3Ind0false
IRS990/DisregardedEntityInd0false
IRS990/DocumentRetentionPolicyInd0true
IRS990/DonorAdvisedFundInd0false
IRS990/DonorRstrOrQuasiEndowmentsInd0false
IRS990/ElectionOfBoardMembersInd0true
IRS990/EmployeeCnt057
IRS990/EmploymentTaxReturnsFiledInd0true
IRS990/ExpenseAmt08160273
IRS990/FamilyOrBusinessRlnInd0false
IRS990/FederalGrantAuditRequiredInd0false
IRS990/FeesForServicesAccountingGrp/TotalAmt033000
IRS990/FeesForServicesLegalGrp/TotalAmt04852
IRS990/ForeignActivitiesInd0false
IRS990/ForeignFinancialAccountInd0false
IRS990/ForeignOfficeInd0false
IRS990/Form8282PropertyDisposedOfInd0false
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt040.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt140.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt240.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt30.70
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt40.70
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt50.70
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt60.70
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt70.70
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt80.70
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt90.70
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt100.70
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt110.70
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd0X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd1X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd2X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd3X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd4X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd5X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd6X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd7X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd8X
IRS990/Form990PartVIISectionAGrp/OfficerInd0X
IRS990/Form990PartVIISectionAGrp/OfficerInd1X
IRS990/Form990PartVIISectionAGrp/OfficerInd2X
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt00
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt10
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt30
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt40
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt50
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt60
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt70
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt80
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt90
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt100
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt110
IRS990/Form990PartVIISectionAGrp/PersonNm0PATRICK J DRENNEN
IRS990/Form990PartVIISectionAGrp/PersonNm1ANGELA DRURY
IRS990/Form990PartVIISectionAGrp/PersonNm2JENNA PAYSEN
IRS990/Form990PartVIISectionAGrp/PersonNm3STEVE CUNDIFF
IRS990/Form990PartVIISectionAGrp/PersonNm4ANN EISENMAN
IRS990/Form990PartVIISectionAGrp/PersonNm5GARY HAINES
IRS990/Form990PartVIISectionAGrp/PersonNm6BRIAN JOHNSON
IRS990/Form990PartVIISectionAGrp/PersonNm7KERRY KENNEDY
IRS990/Form990PartVIISectionAGrp/PersonNm8MARILYN RASMUSSEN
IRS990/Form990PartVIISectionAGrp/PersonNm9ROSANN RAYMOND
IRS990/Form990PartVIISectionAGrp/PersonNm10LANNY REED
IRS990/Form990PartVIISectionAGrp/PersonNm11STEVE ZUIDEMA
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt0285470
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt1149973
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt298545
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt110
IRS990/Form990PartVIISectionAGrp/TitleTxt0CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt1COO
IRS990/Form990PartVIISectionAGrp/TitleTxt2CFO
IRS990/Form990PartVIISectionAGrp/TitleTxt3BOARD
IRS990/Form990PartVIISectionAGrp/TitleTxt4BOARD
IRS990/Form990PartVIISectionAGrp/TitleTxt5BOARD
IRS990/Form990PartVIISectionAGrp/TitleTxt6BOARD
IRS990/Form990PartVIISectionAGrp/TitleTxt7BOARD
IRS990/Form990PartVIISectionAGrp/TitleTxt8BOARD
IRS990/Form990PartVIISectionAGrp/TitleTxt9BOARD
IRS990/Form990PartVIISectionAGrp/TitleTxt10BOARD
IRS990/Form990PartVIISectionAGrp/TitleTxt11BOARD
IRS990/Form990ProvidedToGvrnBodyInd0true
IRS990/FormationYr01953
IRS990/FormerOfcrEmployeesListedInd0false
IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd0X
IRS990/FSAuditedInd0true
IRS990/FundraisingActivitiesInd0false
IRS990/GamingActivitiesInd0false
IRS990/GoverningBodyVotingMembersCnt09
IRS990/GrantsToIndividualsInd0false
IRS990/GrantsToOrganizationsInd0false
IRS990/GrantToRelatedPersonInd0false
IRS990/GrossReceiptsAmt09405272
IRS990/GroupReturnForAffiliatesInd0false
IRS990/IncludeFIN48FootnoteInd0false
IRS990/IndependentAuditFinclStmtInd0true
IRS990/IndependentVotingMemberCnt09
IRS990/IndivRcvdGreaterThan100KCnt02
IRS990/IndoorTanningServicesInd0false
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InformationTechnologyGrp/TotalAmt014491
IRS990/InsuranceGrp/TotalAmt082659
IRS990/InterestGrp/TotalAmt01733361
IRS990/InvestmentIncomeGrp/RelatedOrExemptFuncIncomeAmt0933274
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0933274
IRS990/InvestmentInJointVentureInd0false
IRS990/IRPDocumentCnt03968
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt02973511
IRS990/LandBldgEquipBasisNetGrp/BOYAmt03230186
IRS990/LandBldgEquipBasisNetGrp/EOYAmt03104471
IRS990/LandBldgEquipCostOrOtherBssAmt06077982
IRS990/LegalDomicileStateCd0IA
IRS990/LoanOutstandingInd0true
IRS990/LocalChaptersInd0true
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0true
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0NON-PROFIT FINANCIAL WORKING TO HELP CONSUMERS INVEST AND BORROW AT THE BEST RATES AND TERMS.
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt04300000
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt03000000
IRS990/NetAssetsOrFundBalancesBOYAmt020732409
IRS990/NetAssetsOrFundBalancesEOYAmt021977408
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/TotalAmt0875662
IRS990/OfficeExpensesGrp/TotalAmt0297332
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt02483620
IRS990/OtherAssetsTotalGrp/EOYAmt02451535
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0294993
IRS990/OtherExpensesGrp/Desc0OTHER OUTSIDE SERVICES
IRS990/OtherExpensesGrp/Desc1LOAN SERVICING EXPENSE
IRS990/OtherExpensesGrp/Desc2LOAN LOSS & RESERVES
IRS990/OtherExpensesGrp/Desc3MISCELLANEOUS EXPENSE
IRS990/OtherExpensesGrp/TotalAmt0469059
IRS990/OtherExpensesGrp/TotalAmt1416764
IRS990/OtherExpensesGrp/TotalAmt2335441
IRS990/OtherExpensesGrp/TotalAmt3161683
IRS990/OtherLiabilitiesGrp/BOYAmt0140371693
IRS990/OtherLiabilitiesGrp/EOYAmt0133230335
IRS990/OtherRevenueMiscGrp/Desc0FEES AND CHARGES
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt01381334
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt01381334
IRS990/OtherRevenueTotalAmt01381334
IRS990/OtherSalariesAndWagesGrp/TotalAmt02012599
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt0131625380
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt0132882793
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt031218
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/TotalAmt0192263
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt08939315
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt08939315
IRS990/PensionPlanContributionsGrp/TotalAmt0157382
IRS990/PoliciesReferenceChaptersInd0true
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0374836
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0238739
IRS990/PrincipalOfficerNm0PATRICK J DRENNEN
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0INTEREST ON LOANS
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt07090664
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt07090664
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYInvestmentIncomeAmt0648982
IRS990/PYOtherExpensesAmt04470804
IRS990/PYOtherRevenueAmt01929228
IRS990/PYProgramServiceRevenueAmt06028713
IRS990/PYRevenuesLessExpensesAmt01090000
IRS990/PYSalariesCompEmpBnftPaidAmt03046119
IRS990/PYTotalExpensesAmt07516923
IRS990/PYTotalRevenueAmt08606923
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/BOYAmt0251615
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt0219480
IRS990/ReconcilationRevenueExpnssAmt01244999
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt07090664
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt010688094
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt011933093
IRS990/SavingsAndTempCashInvstGrp/BOYAmt022266318
IRS990/SavingsAndTempCashInvstGrp/EOYAmt08407384
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt01719306
IRS990ScheduleD/BuildingsGrp/DepreciationAmt02227671
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt03946977
IRS990ScheduleD/EquipmentGrp/BookValueAmt0924136
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0745840
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt01669976
IRS990ScheduleD/ExpensesSubtotalAmt08160273
IRS990ScheduleD/LandGrp/BookValueAmt0461029
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0461029
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0133230335
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0SHARES
IRS990ScheduleD/RevenueSubtotalAmt09405272
IRS990ScheduleD/TotalBookValueLandBuildingsAmt03104471
IRS990ScheduleD/TotalExpensesPerForm990Amt08160273
IRS990ScheduleD/TotalLiabilityAmt0133230335
IRS990ScheduleD/TotalRevenuePerForm990Amt09405272
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt09405272
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt08160273
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/ClubDuesOrFeesInd0X
IRS990ScheduleJ/CompensationSurveyInd0X
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990ScheduleJ/IndependentConsultantInd0X
IRS990/ScheduleJRequiredInd0true
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0285470
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0PATRICK J DRENNEN
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0285470
IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SubstantiationRequiredInd0true
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990ScheduleJ/WrittenPolicyRefTAndEExpnssInd0true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt0168638
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt150842
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd0true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd1true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd0false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd1false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd0X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd1X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0HOME LOAN
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt1REFINANCING HOME LOAN
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt0198000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt1189000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm0JENNA PAYSEN
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm1PATRICK DRENNEN
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0CFO
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt1CEO
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd0true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd1true
IRS990ScheduleL/TotalBalanceDueAmt0219480
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt01ST GATEWAY CREDIT UNION HAS AN AUDIT COMMITTEE WHICH IS COMPROMISED OF 3 BOARD MEMBERS AND THE COO. THE COMMITTEE SOLICITS THE CPA FOR THE OPINION AUDIT AND THE AUDIT CHAIR SIGNS THE CONTRACT TO PERFORM THE AUDIT. NO CHANGES IN PROCESSES FROM PRIOR YEARS. PLEASE NOTE: AUDITED FINANCIAL STATEMENTS WERE ISSUED FOR THE YEAR ENDING AUGUST 31, 2020. THE FINANCIAL INFORMATION RECORDED ON FORM 990 WAS BASED ON UNAUDITED FINANCIAL STATEMENTS FOR THE TAX YEAR ENDING DECEMBER 31, 2020.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt11ST GATEWAY IS SUPPORTED BY ITS MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2CREDIT UNION MEMBERS ARE ALLOWED TO ELECT INDIVIDUALS TO SIT ON THE ORGANIZATION'S BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3A COPY OF FORM 990 WAS PROVIDED TO THE ORGANIZATION'S GOVERNING BODY BEFORE IT WAS FILED. BOTH THE BOARD AND MANAGEMENT REVIEWS THE RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE CONFLICT OF INTEREST POLICY IS REVIEWED ANNUALLY AND MANAGEMENT IS RESPONSIBLE FOR MONITORING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt51ST GATEWAY CREDIT UNION HAS AN OUTSIDE FIRM (COMPEASE) THAT THEY UTILIZE TO DETERMINE APPROPRIATE WAGE SCALES. SURVEYS ARE BASED ON DEMOGRAPHICS AND ASSET SIZE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt61ST GATEWAY CREDIT UNION HAS AN OUTSIDE FIRM (COMPEASE) THAT THEY UTILIZE OT DETERMINE APPROPRIATE WAGE SCALES. SURVEYS ARE BASED ON DEMOGRAPHICS AND ASSET SIZE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7FINANCIAL STATEMENTS ARE POSTED IN THE LOBBY. OTHER GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 7A
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 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0167341936
IRS990/TotalAssetsEOYAmt0159056358
IRS990/TotalAssetsGrp/BOYAmt0167341936
IRS990/TotalAssetsGrp/EOYAmt0159056358
IRS990/TotalCompGreaterThan150KInd0true
IRS990/TotalEmployeeCnt057
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt08160273
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0146609527
IRS990/TotalLiabilitiesEOYAmt0137078950
IRS990/TotalLiabilitiesGrp/BOYAmt0146609527
IRS990/TotalLiabilitiesGrp/EOYAmt0137078950
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt020732409
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt021977408
IRS990/TotalProgramServiceExpensesAmt08160273
IRS990/TotalProgramServiceRevenueAmt07090664
IRS990/TotalReportableCompFromOrgAmt0533988
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt09405272
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt09405272
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0167341936
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0159056358
IRS990/TravelGrp/TotalAmt048842
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 110
IRS990/USAddress/CityNm0CAMANCHE
IRS990/USAddress/StateAbbreviationCd0IA
IRS990/USAddress/ZIPCd052730
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0WWW.1STGATEWAY.ORG
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0PATRICK J DRENNEN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum05632434121
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-05-07
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt01ST GATEWAY CREDIT UNION
ReturnHeader/Filer/BusinessNameControlTxt01STG
ReturnHeader/Filer/EIN0420802440
ReturnHeader/Filer/PhoneNum05635434121
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 110
ReturnHeader/Filer/USAddress/CityNm0CAMANCHE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IA
ReturnHeader/Filer/USAddress/ZIPCd052730

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$159,056,358
Liabilities
$137,078,950
Net assets
$21,977,408
Revenue
$9,405,272
Expenses
$8,160,273
Net income
$1,244,999
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$164$141$22.8$10.3$9.41$0.85
2023Detailed filing. Detailed filing data is available for this year.$159$137$22.0$9.41$8.16$1.24
2022Detailed filing. Detailed filing data is available for this year.$167$147$20.7$8.61$7.52$1.09
2021Detailed filing. Detailed filing data is available for this year.$177$157$19.6$8.01$7.03$0.99
2020Detailed filing. Detailed filing data is available for this year.$178$159$18.7$8.50$7.39$1.11
2019Detailed filing. Detailed filing data is available for this year.$161$144$17.6$8.66$7.66$1.01
2018Detailed filing. Detailed filing data is available for this year.$148$131$16.5$7.95$6.66$1.30
2017Detailed filing. Detailed filing data is available for this year.$138$122$15.3$7.32$5.93$1.39
2016Detailed filing. Detailed filing data is available for this year.$133$119$13.9$7.08$5.60$1.48
2015Detailed filing. Detailed filing data is available for this year.$125$112$12.4$6.79$5.51$1.28
2014Detailed filing. Detailed filing data is available for this year.$106$95.4$10.5$5.82$4.76$1.06
2013Detailed filing. Detailed filing data is available for this year.$90.5$81.1$9.42$5.12$4.04$1.08
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$85.4$77.0$8.35$4.03
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$75.8$69.2$6.62$3.83