Civic Intelligence

1 St Gateway Credit Union

990 • Fiscal year 2020 • EIN 42-0802440

Jan 01, 2020 to Dec 31, 2020 • Filed on Oct 26, 2021

Organization ProfileWWW.1STGATEWAY.ORG

View Organization Page

PO Bo 110Camanche, IA 52730

(563) 543-4121

Siviq Scores

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

Liabilities / Assets

47th percentile

0.90x

Higher debt load relative to assets than 47% of similar nonprofits.

2020 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2020

Liabilities / Revenue

39th percentile

18.76x

Higher debt load relative to revenue than 39% of similar nonprofits.

2020 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2020

Net Margin

63rd percentile

13%

Higher net margin than 63% of similar nonprofits.

2020 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2020

Top Officer Pay

81st percentile

$299,050

Higher top officer pay than 81% of similar nonprofits.

Top officer pay equals 3.5% of source-year revenue.

2020 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2020

Asset Growth

15th percentile

11%

Faster asset growth than 15% of similar nonprofits.

2020 filings • 501(c)14 • $100M-$250M nonprofits • Annualized from 2019 to 2020

Revenue Growth

52nd percentile

-1.9%

Faster revenue growth than 52% of similar nonprofits.

2020 filings • 501(c)14 • $100M-$250M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets47th percentile

Assets

Up

$178,043,092

Up $16,963,697 (+11%) from 2019

Net Assets

Up

$18,657,409

Up $1,105,000 (+6.3%) from 2019

Liabilities

Up

$159,385,683

Up $15,858,697 (+11%) from 2019

Revenue And Expenses
Liabilities / Revenue39th percentileNet Margin63rd percentile

Revenue

Down

$8,497,512

Down $167,254 (-1.9%) from 2019

Expenses

Down

$7,392,512

Down $267,254 (-3.5%) from 2019

Net Income

Up

$1,105,000

Up $100,000 (+10.0%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth15th 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

2020

Assets$178,043,092
Liabilities$159,385,683
Net Assets$18,657,409
Open 2020 Filing

Operations Trend

Revenue Growth52nd 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

2020

Revenue$8,497,512
Expenses$7,392,512
Net Income$1,105,000
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Oct 26, 2021
Return Version
2020v4.0
Gross Receipts
$8,497,512
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$126,145,784$121,702,559▼ $4,443,225
Savings and Temporary Cash Investments$19,146,378$32,583,925▲ $13,437,547
Cash and Non-Interest-Bearing Accounts$8,048,424$14,809,658▲ $6,761,234
Pd in Cap Srpls Land Bldg Eqp Fund$8,713,094$8,939,315▲ $226,221
Rtn Earn Endowment Incm Other Fnds$7,834,315$8,613,094▲ $778,779
Land, Buildings, and Equipment, Net$3,058,500$3,370,045▲ $311,545
Accounts Receivable$1,382,441$2,315,103▲ $932,662
Cap Stk Tr Prin Current Funds$1,005,000$1,105,000▲ $100,000
Receivables From Officers Etc$449,565$399,146▼ $50,419
Prepaid Expenses and Deferred Charges$191,061$237,792▲ $46,731
Total Assets$161,079,395$178,043,092▲ $16,963,697
Other Assets Total$2,657,242$2,624,864▼ $32,378
Liabilities
Other Liabilities$130,748,023$150,596,585▲ $19,848,562
Mortgage Notes Payable Secured by Investment Property$12,100,000$8,100,000▼ $4,000,000
Accounts Payable and Accrued Expenses$678,963$689,098▲ $10,135
Total Liabilities$143,526,986$159,385,683▲ $15,858,697
Net Assets / Fund Balance
Total Net Assets Fund Balance$17,552,409$18,657,409▲ $1,105,000
Total Liabilities and Net Assets / Fund Balance$161,079,395$178,043,092▲ $16,963,697

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,610,595$1,922,685$4,533,280
Equipment$298,421$719,177$1,017,598
Land$461,029-$461,029
Compensation and Service Providers
Top Officer Pay81st percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Patrick J DrennenCEOFT$213,696$85,354$299,050
Angela DruryCOOFT$106,379$49,155$155,534
James BengtsonCFOFT$94,837$8,380$103,217
Jana BaraksCFOFT$3,570-$3,570

Board Members and Trustees

NameTitle
Ann EisenmanBoard
Brian JohnsonBoard
Karinne TharaldsonBoard
Kerry KennedyBoard
Lanny ReedBoard
Marilyn RasmussenBoard
Roseann RaymondBoard
Steve ZuidemaBoard
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$7,063,440
Investment Income
$258,830
Other Revenue
$1,175,242
Change in Net Assets
$1,105,000

Audited Revenue Reconciliation

Revenue per Audited Statements
$8,497,512
Total Revenue per Audited Statements
$8,497,512
Total Revenue per Form 990
$8,497,512
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$4,667,807
Salaries, Compensation, and Employee Benefits$2,724,705
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest---$1,830,298
Other Salaries and Wages---$1,775,889
Current Officers, Directors, Trustees, and Key Employees---$399,277
Occupancy---$350,782
Office Expenses---$258,281
Other Employee Benefits---$240,967
Depreciation Depletion---$213,189
Other Expenses---$201,851
Payroll Taxes---$173,532
All Other Expenses---$148,227
Pension Plan Contributions---$135,040
Advertising---$124,334
Fees for Services Other---$110,000
Insurance---$61,873
Information Technology---$61,635
Travel---$31,940
Payments to Affiliates---$27,635
Fees for Services Accounting---$26,000
Fees for Services Legal---$16,874
Conferences and Meetings---$9,600
Total Functional Expenses$0$0$0$7,392,512

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$7,392,512
Total Expenses per Audited Statements$7,392,512
Total Expenses per Form 990$7,392,512
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$449,565$399,146▼ $50,419
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Shares$150,596,585
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 BO 110, CAMANCHE, IA 52730

Signing Officer

Name
Patrick J Drennen
Title
CEO
Phone
5632434121
Signed
2021-10-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Patrick J Drennen
Formed
1953
Legal Domicile
Ia
Voting Board Members
8
Independent Board Members
8
Employees
62

Preparer

Firm
Anderson Larkin & Co Pc
Address
221 N WAPELLO, OTTUMWA, IA 52501
Preparer
Kenneth E Crosser
Phone
6416845489
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IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt02657242
IRS990/OtherAssetsTotalGrp/EOYAmt02624864
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0240967
IRS990/OtherExpensesGrp/Desc0OTHER OUTSIDE SERVICES
IRS990/OtherExpensesGrp/Desc1LOAN LOSS & RESERVES
IRS990/OtherExpensesGrp/Desc2LOAN SERVICING EXPENSE
IRS990/OtherExpensesGrp/Desc3MISCELLANEOUS EXPENSE
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IRS990/OtherExpensesGrp/TotalAmt1438334
IRS990/OtherExpensesGrp/TotalAmt2267053
IRS990/OtherExpensesGrp/TotalAmt3201851
IRS990/OtherLiabilitiesGrp/BOYAmt0130748023
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IRS990/OtherRevenueMiscGrp/Desc0FEES AND CHARGES
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt01175242
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt01175242
IRS990/OtherRevenueTotalAmt01175242
IRS990/OtherSalariesAndWagesGrp/TotalAmt01775889
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt0126145784
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt0121702559
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt027635
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/TotalAmt0173532
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt08713094
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt08939315
IRS990/PensionPlanContributionsGrp/TotalAmt0135040
IRS990/PoliciesReferenceChaptersInd0true
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0191061
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0237792
IRS990/PrincipalOfficerNm0PATRICK J DRENNEN
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0INTEREST ON LOANS
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt07063440
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt07063440
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYInvestmentIncomeAmt0349303
IRS990/PYOtherExpensesAmt04849418
IRS990/PYOtherRevenueAmt01165360
IRS990/PYProgramServiceRevenueAmt07150103
IRS990/PYRevenuesLessExpensesAmt01005000
IRS990/PYSalariesCompEmpBnftPaidAmt02810348
IRS990/PYTotalExpensesAmt07659766
IRS990/PYTotalRevenueAmt08664766
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/BOYAmt0449565
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt0399146
IRS990/ReconcilationRevenueExpnssAmt01105000
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt07063440
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt07834315
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt08613094
IRS990/SavingsAndTempCashInvstGrp/BOYAmt019146378
IRS990/SavingsAndTempCashInvstGrp/EOYAmt032583925
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt02610595
IRS990ScheduleD/BuildingsGrp/DepreciationAmt01922685
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt04533280
IRS990ScheduleD/EquipmentGrp/BookValueAmt0298421
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0719177
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt01017598
IRS990ScheduleD/ExpensesSubtotalAmt07392512
IRS990ScheduleD/LandGrp/BookValueAmt0461029
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0461029
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0150596585
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0SHARES
IRS990ScheduleD/RevenueSubtotalAmt08497512
IRS990ScheduleD/TotalBookValueLandBuildingsAmt03370045
IRS990ScheduleD/TotalExpensesPerForm990Amt07392512
IRS990ScheduleD/TotalLiabilityAmt0150596585
IRS990ScheduleD/TotalRevenuePerForm990Amt08497512
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt08497512
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt07392512
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/ClubDuesOrFeesInd0X
IRS990ScheduleJ/CompensationSurveyInd0X
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990ScheduleJ/IndependentConsultantInd0X
IRS990/ScheduleJRequiredInd0true
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0213696
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt1106379
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount039714
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount120106
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt045640
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt129049
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0PATRICK J DRENNEN
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1ANGELA DRURY
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1COO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0299050
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt1155534
IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SubstantiationRequiredInd0true
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990ScheduleJ/WrittenPolicyRefTAndEExpnssInd0true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt0137887
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt1136364
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt2124895
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd0true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd1true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd2true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd0false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd1false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd2false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd0X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd1X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd2X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0REFINANCE HOME LOAN
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt1REFINANCING HOME LOAN
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt2REFINANCE HOME LOAN
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt0200000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt1189000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt2167100
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm0ANGELA DRURY
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm1PATRICK DRENNEN
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm2JAMES BENGTSON
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0COO
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt1CEO
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt2CFO
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd0true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd1true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd2true
IRS990ScheduleL/TotalBalanceDueAmt0399146
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
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IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0161079395
IRS990/TotalAssetsEOYAmt0178043092
IRS990/TotalAssetsGrp/BOYAmt0161079395
IRS990/TotalAssetsGrp/EOYAmt0178043092
IRS990/TotalCompGreaterThan150KInd0true
IRS990/TotalEmployeeCnt062
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt07392512
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0143526986
IRS990/TotalLiabilitiesEOYAmt0159385683
IRS990/TotalLiabilitiesGrp/BOYAmt0143526986
IRS990/TotalLiabilitiesGrp/EOYAmt0159385683
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt017552409
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt018657409
IRS990/TotalOtherCompensationAmt083069
IRS990/TotalProgramServiceExpensesAmt06993235
IRS990/TotalProgramServiceRevenueAmt07063440
IRS990/TotalReportableCompFromOrgAmt0478302
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt08497512
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt08497512
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0161079395
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0178043092
IRS990/TravelGrp/TotalAmt031940
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 110
IRS990/USAddress/CityNm0CAMANCHE
IRS990/USAddress/StateAbbreviationCd0IA

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$178,043,092
Liabilities
$159,385,683
Net assets
$18,657,409
Revenue
$8,497,512
Expenses
$7,392,512
Net income
$1,105,000
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