Civic Intelligence

Cedar Falls Community Credit Union

EIN 42-0817536 • 501(c)14 • Cedar Falls, IA

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Profile

State chartered credit union

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123 W 4th StreetCedar Falls, IA 50613

www.cfccu.org

Siviq Scores

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

Liabilities / Assets

14th percentile

0.84x

Higher debt load relative to assets than 14% of similar nonprofits.

501(c)14 • $100M-$250M nonprofits • Source year 2025

Liabilities / Revenue

33rd percentile

13.48x

Higher debt load relative to revenue than 33% of similar nonprofits.

501(c)14 • $100M-$250M nonprofits • Source year 2025

Net Margin

88th percentile

24%

Higher net margin than 88% of similar nonprofits.

501(c)14 • $100M-$250M nonprofits • Source year 2025

Top Officer Pay

33rd percentile

$199,310

Higher top officer pay than 33% of similar nonprofits.

Top officer pay equals 1.4% of source-year revenue.

501(c)14 • $100M-$250M nonprofits • Source year 2025

Asset Growth

91st percentile

10%

Faster asset growth than 91% of similar nonprofits.

501(c)14 • $100M-$250M nonprofits • Annualized from 2024 to 2025

Revenue Growth

58th percentile

15%

Faster revenue growth than 58% of similar nonprofits.

501(c)14 • $100M-$250M nonprofits • Annualized from 2024 to 2025

Balance Sheet
Liabilities / Assets14th percentile

Assets

Up

$172,003,870

Up $23,827,007 (+16%) from 2020

Liabilities

Up

$146,578,005

Up $20,120,996 (+16%) from 2020

Net Assets

Up

$25,425,865

Up $3,706,011 (+17%) from 2020

Operations
Liabilities / Revenue33rd percentileNet Margin88th percentile

Revenue

Up

$6,847,220

Up $374,687 (+5.8%) from 2020

Expenses

Down

$5,022,557

Down $30,031 (-0.6%) from 2020

Net Income

Up

$1,824,663

Up $404,718 (+29%) from 2020

Trend Graphs

Balance Sheet Trend

Asset Growth91st percentile

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

$200M$150M$100M$50M$0Assets 2010: $83,466,935Liabilities 2010: $75,353,716Net Assets 2010: $8,113,2192010Assets 2011: $87,486,088Liabilities 2011: $78,508,541Net Assets 2011: $8,977,5472011Assets 2013: $92,685,398Liabilities 2013: $81,528,308Net Assets 2013: $11,157,0902013Assets 2015: $100,121,818Liabilities 2015: $85,906,977Net Assets 2015: $14,214,8412015Assets 2016: $107,763,072Liabilities 2016: $92,166,035Net Assets 2016: $15,597,0372016Assets 2017: $119,132,718Liabilities 2017: $101,792,992Net Assets 2017: $17,339,7262017Assets 2018: $119,493,860Liabilities 2018: $100,453,828Net Assets 2018: $19,040,0322018Assets 2019: $127,129,359Liabilities 2019: $106,630,234Net Assets 2019: $20,499,1252019Assets 2020: $148,176,863Liabilities 2020: $126,457,009Net Assets 2020: $21,719,8542020Assets 2021: $172,003,870Liabilities 2021: $146,578,005Net Assets 2021: $25,425,8652021

Highlighted filing

2021

Assets$172,003,870
Liabilities$146,578,005
Net Assets$25,425,865
Open 2021 Filing

Operations Trend

Revenue Growth58th percentile

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

$8.0M$6.0M$4.0M$2.0M$0Expenses 2010: $3,836,6012010Expenses 2011: $3,370,5122011Revenue 2013: $4,355,930Expenses 2013: $3,021,041Net Income 2013: $1,334,8892013Revenue 2015: $4,720,369Expenses 2015: $2,960,283Net Income 2015: $1,760,0862015Revenue 2016: $4,785,086Expenses 2016: $3,175,745Net Income 2016: $1,609,3412016Revenue 2017: $5,323,198Expenses 2017: $3,624,862Net Income 2017: $1,698,3362017Revenue 2018: $5,807,419Expenses 2018: $3,948,783Net Income 2018: $1,858,6362018Revenue 2019: $6,179,525Expenses 2019: $4,564,728Net Income 2019: $1,614,7972019Revenue 2020: $6,472,533Expenses 2020: $5,052,588Net Income 2020: $1,419,9452020Revenue 2021: $6,847,220Expenses 2021: $5,022,557Net Income 2021: $1,824,6632021

Highlighted filing

2021

Revenue$6,847,220
Expenses$5,022,557
Net Income$1,824,663
Open 2021 Filing

Filings

Most recent year

2021 • Form 990XML pending. An XML filing is linked for this year, but detailed extraction is still pending.

Open filing
Assets
$172,003,870
Liabilities
$146,578,005
Net assets
$25,425,865
Revenue
$6,847,220
Expenses
$5,022,557
Net income
$1,824,663
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$172$147$25.4$6.85$5.02$1.82
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$148$126$21.7$6.47$5.05$1.42
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$127$107$20.5$6.18$4.56$1.61
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$119$100$19.0$5.81$3.95$1.86
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$119$102$17.3$5.32$3.62$1.70
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$108$92.2$15.6$4.79$3.18$1.61
2015Facts available. Structured filing facts are available, but richer extracted sections are limited.$100$85.9$14.2$4.72$2.96$1.76
2013Detailed filing. Detailed filing data is available for this year.$92.7$81.5$11.2$4.36$3.02$1.33
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$87.5$78.5$8.98$3.37
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$83.5$75.4$8.11$3.84
Latest Detailed Filing

The latest 2021 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2020 below.

Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Apr 26, 2021
Return Version
2020v4.0
Gross Receipts
$6,472,533
Mission and Program Overview

Mission

State chartered credit union

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$100,399,989$108,943,202▲ $8,543,213
Savings and Temporary Cash Investments$21,449,728$33,855,160▲ $12,405,432
Rtn Earn Endowment Incm Other Fnds$15,907,651$16,804,753▲ $897,102
Pd in Cap Srpls Land Bldg Eqp Fund$4,591,474$4,915,101▲ $323,627
Cash and Non-Interest-Bearing Accounts$1,277,378$1,467,104▲ $189,726
Land, Buildings, and Equipment, Net$822,398$847,162▲ $24,764
Investments in Publicly Traded Securities$250,000--
Prepaid Expenses and Deferred Charges$101,080$92,395▼ $8,685
Accounts Receivable$9,609$4,164▼ $5,445
Total Assets$127,129,359$148,176,863▲ $21,047,504
Other Assets Total$2,819,177$2,967,676▲ $148,499
Liabilities
Other Liabilities$105,722,779$125,391,831▲ $19,669,052
Accounts Payable and Accrued Expenses$907,455$1,065,178▲ $157,723
Total Liabilities$106,630,234$126,457,009▲ $19,826,775
Net Assets / Fund Balance
Total Net Assets Fund Balance$20,499,125$21,719,854▲ $1,220,729
Total Liabilities and Net Assets / Fund Balance$127,129,359$148,176,863▲ $21,047,504

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$708,360$977,251$1,685,611
Equipment$103,802$762,866$866,668
Land$35,000-$35,000
Compensation and Service Providers
Top Officer Pay33rd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Helen PearcePresident/ceFT$163,470$163,470
Helen PearcePresident/CEO-$163,470$163,470

Board Members and Trustees

NameTitle
Becky RiehmBoard Member
Bruce SorensenBoard Member
Frank MillerBoard Member
Fred RitchieBoard Member
Gordie SorensenBoard Member
Irv TillerBoard Member
Jim SealmanBoard Member
Larry BockesBoard Member
Ma ReifsteckBoard Member
Meghan SullivanBoard Member
Sheila KittlesonBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$6,166,616
Investment Income
$305,917
Other Revenue
$0
Change in Net Assets
$1,419,945

Audited Revenue Reconciliation

Revenue per Audited Statements
$6,472,533
Total Revenue per Audited Statements
$6,472,533
Total Revenue per Form 990
$6,472,533
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,721,521
Salaries, Compensation, and Employee Benefits$1,331,067
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$854,308
Other Expenses---$417,401
All Other Expenses---$337,916
Occupancy---$181,822
Advertising---$166,982
Current Officers, Directors, Trustees, and Key Employees---$163,470
Office Expenses---$148,552
Other Employee Benefits---$147,221
Depreciation Depletion---$92,749
Pension Plan Contributions---$87,019
Payroll Taxes---$79,049
Insurance---$30,801
Fees for Services Accounting---$24,000
Conferences and Meetings---$11,055
Total Functional Expenses$0$0$0$5,052,588

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$5,052,588
Total Expenses per Audited Statements$5,052,588
Total Expenses per Form 990$5,052,588
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
Member Deposits$125,391,831
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 2

“Larry bockers meghan sullivan board member board member father/daughter”

Form 990, Page 6, Part VI, Line 6

“All depositors are considered members.”

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

“The credit union members elect on an annual basis the members of the board of directors.”

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

“Any proposed mergers must be approved by a majority of the membership.”

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

“No review was or will be conducted.”

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

“The security matrix on the data processing system prohibits employees and directors from initiating transactions on all accounts listed on their conflict of interest disclosure statement, which is updated annually.”

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

“The process for determining compensation for the ceo includes a comparison of compensation for similarly qualified persons in comparable positions, review and approval by the board of directors and is documented in the board minutes. The last review was conducted in december 2020.”

Form 990, Page 6, Part VI, Line 19

“The monthly financial statements are posted in the lobby and are updated on a monthly basis. The governing documents and conflict of interest policy are made available upon request.”

Filing and Contact Details

Filer

Filer Name
Cedar Falls Community Credit Union
EIN
42-0817536
Phone
3192667531
Address
123 W 4TH STREET, CEDAR FALLS, IA 50613

Signing Officer

Name
Helen Pearce
Title
President/CEO
Phone
3192667531
Signed
2021-04-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Helen Pearce
Formed
1958
Legal Domicile
Ia
Voting Board Members
11
Independent Board Members
11
Employees
28
Volunteers
14

Preparer

Firm
Petersen & Associates
Address
506 E GOLD COAST RD STE 100, PAPILLION, NE 68046-4790
Preparer
Steven O Petersen
Phone
4023332800
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4D

“N/A”

Form 990, Part XI, Line 9

“Net change in other comprehensive income -199,216”

Raw XML Appendix384 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
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IRS990/OtherExpensesGrp/TotalAmt2435120
IRS990/OtherExpensesGrp/TotalAmt3417401
IRS990/OtherLiabilitiesGrp/BOYAmt0105722779
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IRS990/OthNotesLoansReceivableNetGrp/BOYAmt0100399989
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IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt092395
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IRS990/PYTotalRevenueAmt06179525
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IRS990ScheduleD/BuildingsGrp/DepreciationAmt0977251
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IRS990ScheduleD/EquipmentGrp/BookValueAmt0103802
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0762866
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0866668
IRS990ScheduleD/ExpensesSubtotalAmt05052588
IRS990ScheduleD/LandGrp/BookValueAmt035000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt035000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0125391831
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0MEMBER DEPOSITS
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT/CEO
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1LARRY BOCKERS MEGHAN SULLIVAN BOARD MEMBER BOARD MEMBER FATHER/DAUGHTER
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ALL DEPOSITORS ARE CONSIDERED MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE CREDIT UNION MEMBERS ELECT ON AN ANNUAL BASIS THE MEMBERS OF THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ANY PROPOSED MERGERS MUST BE APPROVED BY A MAJORITY OF THE MEMBERSHIP.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE SECURITY MATRIX ON THE DATA PROCESSING SYSTEM PROHIBITS EMPLOYEES AND DIRECTORS FROM INITIATING TRANSACTIONS ON ALL ACCOUNTS LISTED ON THEIR CONFLICT OF INTEREST DISCLOSURE STATEMENT, WHICH IS UPDATED ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7THE PROCESS FOR DETERMINING COMPENSATION FOR THE CEO INCLUDES A COMPARISON OF COMPENSATION FOR SIMILARLY QUALIFIED PERSONS IN COMPARABLE POSITIONS, REVIEW AND APPROVAL BY THE BOARD OF DIRECTORS AND IS DOCUMENTED IN THE BOARD MINUTES. THE LAST REVIEW WAS CONDUCTED IN DECEMBER 2020.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8THE MONTHLY FINANCIAL STATEMENTS ARE POSTED IN THE LOBBY AND ARE UPDATED ON A MONTHLY BASIS. THE GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE MADE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9NET CHANGE IN OTHER COMPREHENSIVE INCOME -199,216
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4D
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc9FORM 990, PART XI, LINE 9
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IRS990/TotalAssetsEOYAmt0148176863
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IRS990/TotalAssetsGrp/EOYAmt0148176863
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt05052588
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0106630234
IRS990/TotalLiabilitiesEOYAmt0126457009
IRS990/TotalLiabilitiesGrp/BOYAmt0106630234
IRS990/TotalLiabilitiesGrp/EOYAmt0126457009
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt020499125
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt021719854
IRS990/TotalProgramServiceRevenueAmt06166616
IRS990/TotalReportableCompFromOrgAmt0163470
IRS990/TotalRevenueGrp/ExclusionAmt06472533
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt06472533
IRS990/TotalVolunteersCnt014
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0127129359
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0148176863
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0123 W 4TH STREET
IRS990/USAddress/CityNm0CEDAR FALLS
IRS990/USAddress/StateAbbreviationCd0IA
IRS990/USAddress/ZIPCd050613
IRS990/VotingMembersGoverningBodyCnt011
IRS990/VotingMembersIndependentCnt011
IRS990/WebsiteAddressTxt0WWW.CFCCU.ORG
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0HELEN PEARCE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT/CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum03192667531
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-04-26
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0CEDAR FALLS COMMUNITY CREDIT UNION
ReturnHeader/Filer/BusinessNameControlTxt0CEDA
ReturnHeader/Filer/EIN0420817536
ReturnHeader/Filer/PhoneNum03192667531
ReturnHeader/Filer/USAddress/AddressLine1Txt0123 W 4TH STREET
ReturnHeader/Filer/USAddress/CityNm0CEDAR FALLS
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ReturnHeader/Filer/USAddress/ZIPCd050613
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0470749138
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0PETERSEN & ASSOCIATES
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0506 E GOLD COAST RD STE 100
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0PAPILLION
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0680464790
ReturnHeader/PreparerPersonGrp/PhoneNum04023332800
ReturnHeader/PreparerPersonGrp/PreparationDt02021-05-03
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0STEVEN O PETERSEN
ReturnHeader/ReturnTs02021-05-05T14:48:15-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0HELEN
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0PEARCE
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

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