Civic Intelligence

Quaker Oats Credit Union

EIN 42-0816863 • 501(c)14 • Cedar Rapids, IA

Profile

To be a safe and sound credit union. Lending and savings.

3535 Center Point Road NECedar Rapids, IA 52402

www.quakeroatscu.com

Siviq Scores

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

Liabilities / Assets

49th percentile

0.86x

Higher debt load relative to assets than 49% of similar nonprofits.

501(c)14 • $10M-$25M nonprofits • Source year 2022

Liabilities / Revenue

62nd percentile

20.16x

Higher debt load relative to revenue than 62% of similar nonprofits.

501(c)14 • $10M-$25M nonprofits • Source year 2022

Net Margin

44th percentile

4.8%

Higher net margin than 44% of similar nonprofits.

501(c)14 • $10M-$25M nonprofits • Source year 2022

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

10th percentile

-9.6%

Faster asset growth than 10% of similar nonprofits.

501(c)14 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Revenue Growth

38th percentile

3.6%

Faster revenue growth than 38% of similar nonprofits.

501(c)14 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Assets

Up

$12,240,235

Up $84,864 (+0.7%) from 2023

Liabilities

Down

$10,272,054

Down $90,708 (-0.9%) from 2023

Net Assets

Up

$1,968,181

Up $175,572 (+9.8%) from 2023

Revenue

Down

$768,193

Down $10,538 (-1.4%) from 2023

Expenses

Down

$592,621

Down $12,338 (-2.0%) from 2023

Net Income

Up

$175,572

Up $1,800 (+1.0%) from 2023

Trend Graphs

Balance Sheet Trend

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

$15M$10M$5.0M$0Assets 2010: $6,589,099Liabilities 2010: $5,307,448Net Assets 2010: $1,281,6512010Assets 2015: $8,402,431Liabilities 2015: $7,151,662Net Assets 2015: $1,250,7692015Assets 2016: $8,339,278Liabilities 2016: $7,040,847Net Assets 2016: $1,298,4312016Assets 2018: $9,656,934Liabilities 2018: $8,165,770Net Assets 2018: $1,491,1642018Assets 2019: $10,141,490Liabilities 2019: $8,547,148Net Assets 2019: $1,594,3422019Assets 2020: $12,526,686Liabilities 2020: $10,877,579Net Assets 2020: $1,649,1072020Assets 2021: $13,295,600Liabilities 2021: $11,637,943Net Assets 2021: $1,657,6572021Assets 2022: $12,021,764Liabilities 2022: $10,339,427Net Assets 2022: $1,682,3372022Assets 2023: $12,155,371Liabilities 2023: $10,362,762Net Assets 2023: $1,792,6092023Assets 2024: $12,240,235Liabilities 2024: $10,272,054Net Assets 2024: $1,968,1812024

Highlighted filing

2024

Assets$12,240,235
Liabilities$10,272,054
Net Assets$1,968,181

Operations Trend

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

$1.0M$500K$0-$500KExpenses 2010: $710,2622010Revenue 2015: $492,919Expenses 2015: $574,162Net Income 2015: -$81,2432015Revenue 2016: $546,891Expenses 2016: $499,226Net Income 2016: $47,6652016Revenue 2018: $595,941Expenses 2018: $491,841Net Income 2018: $104,1002018Revenue 2019: $629,396Expenses 2019: $526,219Net Income 2019: $103,1772019Revenue 2020: $516,853Expenses 2020: $462,088Net Income 2020: $54,7652020Revenue 2021: $494,944Expenses 2021: $486,394Net Income 2021: $8,5502021Revenue 2022: $512,984Expenses 2022: $488,304Net Income 2022: $24,6802022Revenue 2023: $778,731Expenses 2023: $604,959Net Income 2023: $173,7722023Revenue 2024: $768,193Expenses 2024: $592,621Net Income 2024: $175,5722024

Highlighted filing

2024

Revenue$768,193
Expenses$592,621
Net Income$175,572

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
May 15, 2025
Return Version
2024v5.1
Gross Receipts
$768,193
Mission and Program Overview

Mission

To be a safe and sound credit union. Lending and savings.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$6,023,335$5,737,932▼ $285,403
Investments Program Related$2,748,420$3,249,000▲ $500,580
Cash and Non-Interest-Bearing Accounts$2,589,147$2,673,593▲ $84,446
Rtn Earn Endowment Incm Other Fnds$1,350,608$1,526,180▲ $175,572
Pd in Cap Srpls Land Bldg Eqp Fund$442,001$442,001→ $0
Savings and Temporary Cash Investments$352,368$357,649▲ $5,281
Land, Buildings, and Equipment, Net$150,652$144,057▼ $6,595
Prepaid Expenses and Deferred Charges$73,162$54,361▼ $18,801
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$12,155,371$12,240,235▲ $84,864
Other Assets Total$218,287$23,643▼ $194,644
Liabilities
Other Liabilities$10,247,993$10,176,336▼ $71,657
Accounts Payable and Accrued Expenses$114,769$95,718▼ $19,051
Total Liabilities$10,362,762$10,272,054▼ $90,708
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,792,609$1,968,181▲ $175,572
Total Liabilities and Net Assets / Fund Balance$12,155,371$12,240,235▲ $84,864

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$88,057$392,670$480,727
Buildings$0$192,138$192,138
Land$56,000-$56,000
Investment Program Related Org$3,249,000--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Heather LemkeCEOFT$70,263$6,835$77,098

Board Members and Trustees

NameTitle
Justin JonesAudit Committee Chairman
Ken OwensChairman
Mike HenryCredit Committee Chair
Joann ElliottPresident
Joe ConnerVice Chairman
Ellen SennettAudit Committee
Ron DearbornAudit Committee
Bridget AndersonCredit Committee
Brad DvorakSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$387,293
Investment Income
$304,389
Other Revenue
$76,511
Change in Net Assets
$175,572
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$391,061
Salaries, Compensation, and Employee Benefits$201,560
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$103,850--$103,850
Office Expenses$81,781--$81,781
Current Officers, Directors, Trustees, and Key Employees$77,098--$77,098
Interest$44,449--$44,449
Depreciation Depletion$30,259--$30,259
Advertising$27,550--$27,550
Information Technology$25,786--$25,786
Occupancy$24,228--$24,228
Payroll Taxes$14,567--$14,567
Fees for Services Accounting$14,250--$14,250
All Other Expenses$11,751--$11,751
Other Expenses$7,860--$7,860
Other Employee Benefits$6,045--$6,045
Conferences and Meetings$3,200--$3,200
Travel$2,469--$2,469
Payments to Affiliates$2,127--$2,127
Fees for Services Legal$695--$695
Insurance$683--$683
Total Functional Expenses$592,621$0$0$592,621
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$10,176,336
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
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

The organization is a credit union with members.

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

Board members can be elected at annual meeting.

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

Mergers are subject to member approval.

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

The ceo will review and sign the form 990.

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

The organization reviews the conflict of interest policy on an annual basis.

Form 990, Part VI, Section C, Line 18

The form 990 is kept at the credit union office and is available for review.

Form 990, Part VI, Section C, Line 19

Documents are kept at the credit union office and financials are posted in the lobby. All documents are available upon written request.

Filing and Contact Details

Filer

Filer Name
Quaker Oats Credit Union
EIN
42-0816863
Phone
3193957060
Address
3535 CENTER POINT ROAD NE, CEDAR RAPIDS, IA 52402

Signing Officer

Name
Heather Lemke
Title
CEO
Phone
3193957060
Signed
2025-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Heather Lemke
Formed
1952
Legal Domicile
Ia
Voting Board Members
9
Independent Board Members
9
Employees
4
Volunteers
0

Preparer

Firm
Gardiner Company Pc
Address
10555 NEW YORK AVENUE SUITE 200, DES MOINES, IA 50322
Preparer
Robert Bell CPA
Phone
5152701446
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IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0241991
IRS990/PYOtherExpensesAmt0361072
IRS990/PYOtherRevenueAmt092507
IRS990/PYProgramServiceRevenueAmt0365871
IRS990/PYRevenuesLessExpensesAmt0173772
IRS990/PYSalariesCompEmpBnftPaidAmt0243887
IRS990/PYTotalExpensesAmt0604959
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0778731
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt0175572
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd01
IRS990/RevenueAmt0462673
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt01350608
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt01526180
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0352368
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0357649
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt00
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0192138
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0192138
IRS990ScheduleD/EquipmentGrp/BookValueAmt088057
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0392670
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0480727
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt03249000
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0CERTIFICATES OF DEPOSIT
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd0C
IRS990ScheduleD/LandGrp/BookValueAmt056000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt056000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt010176336
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0MEMBERS SHARES
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0144057
IRS990ScheduleD/TotalBookValueProgramRltdAmt03249000
IRS990ScheduleD/TotalLiabilityAmt010176336
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION IS A CREDIT UNION WITH MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1BOARD MEMBERS CAN BE ELECTED AT ANNUAL MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2MERGERS ARE SUBJECT TO MEMBER APPROVAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE CEO WILL REVIEW AND SIGN THE FORM 990.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION REVIEWS THE CONFLICT OF INTEREST POLICY ON AN ANNUAL BASIS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE FORM 990 IS KEPT AT THE CREDIT UNION OFFICE AND IS AVAILABLE FOR REVIEW.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6DOCUMENTS ARE KEPT AT THE CREDIT UNION OFFICE AND FINANCIALS ARE POSTED IN THE LOBBY. ALL DOCUMENTS ARE AVAILABLE UPON WRITTEN REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 7B
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 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt012155371
IRS990/TotalAssetsEOYAmt012240235
IRS990/TotalAssetsGrp/BOYAmt012155371
IRS990/TotalAssetsGrp/EOYAmt012240235
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt04
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0592621
IRS990/TotalFunctionalExpensesGrp/TotalAmt0592621
IRS990/TotalGrossUBIAmt01131
IRS990/TotalLiabilitiesBOYAmt010362762
IRS990/TotalLiabilitiesEOYAmt010272054
IRS990/TotalLiabilitiesGrp/BOYAmt010362762
IRS990/TotalLiabilitiesGrp/EOYAmt010272054
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01792609
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01968181
IRS990/TotalOtherCompensationAmt06835
IRS990/TotalProgramServiceExpensesAmt0592621
IRS990/TotalProgramServiceRevenueAmt0387293
IRS990/TotalReportableCompFromOrgAmt070263
IRS990/TotalRevenueGrp/ExclusionAmt0304389
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0462673
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0768193
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt01131
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt012155371
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt012240235
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt02469
IRS990/TravelGrp/TotalAmt02469
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd01
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt03535 CENTER POINT ROAD NE
IRS990/USAddress/CityNm0CEDAR RAPIDS
IRS990/USAddress/StateAbbreviationCd0IA
IRS990/USAddress/ZIPCd052402
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0WWW.QUAKEROATSCU.COM
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0HEATHER LEMKE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum03193957060
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-05-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0QUAKER OATS CREDIT UNION
ReturnHeader/Filer/BusinessNameControlTxt0QUAK
ReturnHeader/Filer/EIN0420816863
ReturnHeader/Filer/PhoneNum03193957060
ReturnHeader/Filer/USAddress/AddressLine1Txt03535 CENTER POINT ROAD NE
ReturnHeader/Filer/USAddress/CityNm0CEDAR RAPIDS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IA
ReturnHeader/Filer/USAddress/ZIPCd052402
ReturnHeader/IRSResponsiblePrtyInfoCurrInd01
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0421186197
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0GARDINER COMPANY PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt010555 NEW YORK AVENUE SUITE 200
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0DES MOINES
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd050322
ReturnHeader/PreparerPersonGrp/PhoneNum05152701446
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ROBERT BELL CPA
ReturnHeader/ReturnTs02025-05-22T10:11:42-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31

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