Civic Intelligence

Cedar Falls Community Credit Union

990 • Fiscal year 2024 • EIN 42-0817536

Jan 01, 2024 to Dec 31, 2024 • Filed on Apr 18, 2025

Organization ProfileWWW.CFCCU.ORG

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123 W 4th StreetCedar Falls, IA 50613

(319) 266-7531

Siviq Scores

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

Liabilities / Assets

14th percentile

0.84x

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

2024 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2024

Liabilities / Revenue

38th percentile

14.06x

Higher debt load relative to revenue than 38% of similar nonprofits.

2024 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2024

Net Margin

91st percentile

26%

Higher net margin than 91% of similar nonprofits.

2024 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2024

Top Officer Pay

15th percentile

$162,314

Higher top officer pay than 15% of similar nonprofits.

Top officer pay equals 1.3% of source-year revenue.

2024 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2024

Asset Growth

91st percentile

10%

Faster asset growth than 91% of similar nonprofits.

2024 filings • 501(c)14 • $100M-$250M nonprofits • Annualized from 2023 to 2024

Revenue Growth

77th percentile

21%

Faster revenue growth than 77% of similar nonprofits.

2024 filings • 501(c)14 • $100M-$250M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets14th percentile

Assets

Up

$211,728,710

Up $39,724,840 (+23%) from 2021

Net Assets

Up

$34,485,334

Up $9,059,469 (+36%) from 2021

Liabilities

Up

$177,243,376

Up $30,665,371 (+21%) from 2021

Revenue And Expenses
Liabilities / Revenue38th percentileNet Margin91st percentile

Revenue

Up

$12,608,901

Up $5,761,681 (+84%) from 2021

Expenses

Up

$9,286,636

Up $4,264,079 (+85%) from 2021

Net Income

Up

$3,322,265

Up $1,497,602 (+82%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth91st percentile

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

$300M$200M$100M$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: $25,425,8652021Assets 2024: $211,728,710Liabilities 2024: $177,243,376Net Assets 2024: $34,485,3342024

Highlighted filing

2024

Assets$211,728,710
Liabilities$177,243,376
Net Assets$34,485,334
Open 2024 Filing

Operations Trend

Revenue Growth77th percentile

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

$15M$10M$5.0M$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: $1,824,6632021Revenue 2024: $12,608,901Expenses 2024: $9,286,636Net Income 2024: $3,322,2652024

Highlighted filing

2024

Revenue$12,608,901
Expenses$9,286,636
Net Income$3,322,265
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Apr 18, 2025
Return Version
2024v5.0
Gross Receipts
$12,608,901
Mission and Program Overview

Mission

State chartered credit union

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$145,673,457$165,661,084▲ $19,987,627
Savings and Temporary Cash Investments$33,824,119$33,476,076▼ $348,043
Rtn Earn Endowment Incm Other Fnds$23,675,540$26,660,046▲ $2,984,506
Pd in Cap Srpls Land Bldg Eqp Fund$7,194,843$7,825,288▲ $630,445
Land, Buildings, and Equipment, Net$3,244,935$2,973,348▼ $271,587
Cash and Non-Interest-Bearing Accounts$1,691,492$1,143,540▼ $547,952
Prepaid Expenses and Deferred Charges$123,720$170,814▲ $47,094
Accounts Receivable$1,326$-1,377▼ $2,703
Total Assets$192,111,265$211,728,710▲ $19,617,445
Other Assets Total$7,552,216$8,305,225▲ $753,009
Liabilities
Other Liabilities$159,381,366$175,707,818▲ $16,326,452
Accounts Payable and Accrued Expenses$1,859,516$1,535,558▼ $323,958
Total Liabilities$161,240,882$177,243,376▲ $16,002,494
Net Assets / Fund Balance
Total Net Assets Fund Balance$30,870,383$34,485,334▲ $3,614,951
Total Liabilities and Net Assets / Fund Balance$192,111,265$211,728,710▲ $19,617,445

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,644,113$732,936$3,377,049
Equipment$159,655$705,741$865,396
Land$169,580-$169,580
Compensation and Service Providers
Top Officer Pay15th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Chad KaeppelPresident/ceFT$162,314$162,314
Chad KaeppelPresident/CEO-$162,314$162,314

Board Members and Trustees

NameTitle
Becky RiehmBoard Member
Dan MillsBoard Member
Frank MillerBoard Member
Gordie SorensenBoard Member
Jon AverhoffBoard Member
Larry BockesBoard Member
Meghan SullivanBoard Member
Michael TaylorBoard Member
Sheila KittlesonBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$10,766,847
Investment Income
$1,842,054
Other Revenue
$0
Change in Net Assets
$3,322,265

Audited Revenue Reconciliation

Revenue per Audited Statements
$12,608,901
Total Revenue per Audited Statements
$12,608,901
Total Revenue per Form 990
$12,608,901
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$7,128,359
Salaries, Compensation, and Employee Benefits$2,158,277
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$1,678,777
All Other Expenses---$479,696
Other Expenses---$347,798
Other Employee Benefits---$244,512
Depreciation Depletion---$213,039
Occupancy---$208,764
Office Expenses---$202,178
Advertising---$155,157
Payroll Taxes---$124,260
Pension Plan Contributions---$110,728
Insurance---$46,411
Fees for Services Accounting---$32,215
Conferences and Meetings---$22,154
Total Functional Expenses$0$0$0$9,286,636

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$9,286,636
Total Expenses per Audited Statements$9,286,636
Total Expenses per Form 990$9,286,636
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$175,707,818
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 bockes 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 2024.”

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
Chad Kaeppel
Title
President/CEO
Phone
3192667531
Signed
2025-04-18
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Chad Kaeppel
Formed
1958
Legal Domicile
Ia
Voting Board Members
9
Independent Board Members
9
Employees
35
Volunteers
9

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 investment valuation reserve 292,686”

Raw XML Appendix367 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleD/EquipmentGrp/BookValueAmt0159655
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0705741
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0865396
IRS990ScheduleD/ExpensesSubtotalAmt09286636
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IRS990ScheduleD/RevenueSubtotalAmt012608901
IRS990ScheduleD/TotalBookValueLandBuildingsAmt02973348
IRS990ScheduleD/TotalExpensesPerForm990Amt09286636
IRS990ScheduleD/TotalLiabilityAmt0175707818
IRS990ScheduleD/TotalRevenuePerForm990Amt012608901
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0N/A
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1LARRY BOCKES 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 2024.
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 INVESTMENT VALUATION RESERVE 292,686
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/USAddress/CityNm0CEDAR FALLS
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IRS990/USAddress/ZIPCd050613
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0WWW.CFCCU.ORG
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0CHAD KAEPPEL
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT/CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum03192667531
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-04-18
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0CEDAR FALLS COMMUNITY CREDIT UNION
ReturnHeader/Filer/BusinessNameControlTxt0CEDA
ReturnHeader/Filer/EIN0420817536
ReturnHeader/Filer/PhoneNum03192667531
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ReturnHeader/Filer/USAddress/CityNm0CEDAR FALLS
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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/PreparationDt02025-04-21
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0STEVEN O PETERSEN
ReturnHeader/ReturnTs02025-04-21T12:27:45-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$211,728,710
Liabilities
$177,243,376
Net assets
$34,485,334
Revenue
$12,608,901
Expenses
$9,286,636
Net income
$3,322,265
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$212$177$34.5$12.6$9.29$3.32
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