Civic Intelligence

Cent Credit Union

990 • Fiscal year 2024 • EIN 42-0923713

Jan 01, 2024 to Dec 31, 2024 • Filed on Apr 21, 2025

Organization ProfileWWW.CENTCU.ORG

View Organization Page

25 W State StreetMason City, IA 50401

(641) 424-2368

Siviq Scores

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

Liabilities / Assets

43rd percentile

0.89x

Higher debt load relative to assets than 43% of similar nonprofits.

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

Liabilities / Revenue

67th percentile

16.29x

Higher debt load relative to revenue than 67% of similar nonprofits.

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

Net Margin

58th percentile

14%

Higher net margin than 58% of similar nonprofits.

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

Top Officer Pay

66th percentile

$262,099

Higher top officer pay than 66% of similar nonprofits.

Top officer pay equals 2.9% of source-year revenue.

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

Asset Growth

94th percentile

11%

Faster asset growth than 94% of similar nonprofits.

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

Revenue Growth

73rd percentile

20%

Faster revenue growth than 73% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets43rd percentile

Assets

Up

$168,096,833

Up $16,441,588 (+11%) from 2023

Net Assets

Up

$19,273,395

Up $1,250,000 (+6.9%) from 2023

Liabilities

Up

$148,823,438

Up $15,191,588 (+11%) from 2023

Revenue And Expenses
Liabilities / Revenue67th percentileNet Margin58th percentile

Revenue

Up

$9,136,574

Up $1,503,513 (+20%) from 2023

Expenses

Up

$7,886,574

Up $1,553,513 (+25%) from 2023

Net Income

Down

$1,250,000

Down $50,000 (-3.8%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth94th percentile

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

$200M$150M$100M$50M$0Assets 2010: $29,662,921Liabilities 2010: $25,206,702Net Assets 2010: $4,456,2192010Assets 2012: $32,488,652Liabilities 2012: $27,412,389Net Assets 2012: $5,076,2632012Assets 2015: $40,748,957Liabilities 2015: $33,982,661Net Assets 2015: $6,766,2962015Assets 2016: $43,899,030Liabilities 2016: $36,764,147Net Assets 2016: $7,134,8832016Assets 2017: $49,150,937Liabilities 2017: $41,855,992Net Assets 2017: $7,294,9452017Assets 2018: $51,054,112Liabilities 2018: $43,751,467Net Assets 2018: $7,302,6452018Assets 2019: $56,693,695Liabilities 2019: $49,247,657Net Assets 2019: $7,446,0382019Assets 2020: $65,253,827Liabilities 2020: $57,411,898Net Assets 2020: $7,841,9292020Assets 2021: $71,687,831Liabilities 2021: $63,340,484Net Assets 2021: $8,347,3472021Assets 2022: $73,206,978Liabilities 2022: $64,285,487Net Assets 2022: $8,921,4912022Assets 2023: $151,655,245Liabilities 2023: $133,631,850Net Assets 2023: $18,023,3952023Assets 2024: $168,096,833Liabilities 2024: $148,823,438Net Assets 2024: $19,273,3952024

Highlighted filing

2024

Assets$168,096,833
Liabilities$148,823,438
Net Assets$19,273,395
Open 2024 Filing

Operations Trend

Revenue Growth73rd percentile

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

$10M$5.0M$0Expenses 2010: $1,192,9002010Expenses 2012: $999,5622012Revenue 2015: $1,765,666Expenses 2015: $1,445,892Net Income 2015: $319,7742015Revenue 2016: $2,030,229Expenses 2016: $1,661,642Net Income 2016: $368,5872016Revenue 2017: $2,428,443Expenses 2017: $2,268,381Net Income 2017: $160,0622017Revenue 2018: $2,938,902Expenses 2018: $2,931,202Net Income 2018: $7,7002018Revenue 2019: $3,125,032Expenses 2019: $2,981,639Net Income 2019: $143,3932019Revenue 2020: $3,394,785Expenses 2020: $2,998,894Net Income 2020: $395,8912020Revenue 2021: $3,482,866Expenses 2021: $2,977,448Net Income 2021: $505,4182021Revenue 2022: $3,739,508Expenses 2022: $3,165,364Net Income 2022: $574,1442022Revenue 2023: $7,633,061Expenses 2023: $6,333,061Net Income 2023: $1,300,0002023Revenue 2024: $9,136,574Expenses 2024: $7,886,574Net Income 2024: $1,250,0002024

Highlighted filing

2024

Revenue$9,136,574
Expenses$7,886,574
Net Income$1,250,000
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Apr 21, 2025
Return Version
2024v5.0
Gross Receipts
$9,136,574
Mission and Program Overview

Mission

Cent credit union operates for the primary purpose of promoting thrift, providing credit at reasonable rates, and providing other financial services to its members.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$117,614,953$121,227,206▲ $3,612,253
Savings and Temporary Cash Investments$26,374,574$37,883,721▲ $11,509,147
Rtn Earn Endowment Incm Other Fnds$9,713,776$10,963,776▲ $1,250,000
Pd in Cap Srpls Land Bldg Eqp Fund$8,309,619$8,309,619→ $0
Land, Buildings, and Equipment, Net$2,813,911$3,364,399▲ $550,488
Cash and Non-Interest-Bearing Accounts$1,255,915$1,753,579▲ $497,664
Investments in Publicly Traded Securities$1,750,000$1,750,000→ $0
Prepaid Expenses and Deferred Charges$217,065$418,772▲ $201,707
Accounts Receivable$24,337$11,500▼ $12,837
Total Assets$151,655,245$168,096,833▲ $16,441,588
Other Assets Total$1,604,490$1,687,656▲ $83,166
Liabilities
Other Liabilities$133,404,234$149,394,757▲ $15,990,523
Accounts Payable and Accrued Expenses$227,616$-571,319▼ $798,935
Total Liabilities$133,631,850$148,823,438▲ $15,191,588
Net Assets / Fund Balance
Total Net Assets Fund Balance$18,023,395$19,273,395▲ $1,250,000
Total Liabilities and Net Assets / Fund Balance$151,655,245$168,096,833▲ $16,441,588

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,102,393$1,104,285$3,206,678
Equipment$876,230$742,779$1,619,009
Land$385,776-$385,776
Compensation and Service Providers
Top Officer Pay66th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Matthew ChizekCEOFT$226,720$35,379$262,099
Traci MuhlenbruchCOOFT$145,600$30,550$176,150
Ryan FrancisCFOFT$127,000$24,445$151,445

Board Members and Trustees

NameTitle
Bill OrozcoBoard Member
Dan Van HornBoard Member
Jolynn GoodchildBoard Member
Liz LovenBoard Member
Rick SudtelgteBoard Member
William BaslerBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$7,516,618
Investment Income
$1,619,956
Other Revenue
$0
Change in Net Assets
$1,250,000

Audited Revenue Reconciliation

Revenue per Audited Statements
$9,136,574
Total Revenue per Audited Statements
$9,136,574
Total Revenue per Form 990
$9,136,574
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$5,201,147
Salaries, Compensation, and Employee Benefits$2,685,427
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$1,855,429
Office Expenses---$413,735
Depreciation Depletion---$327,794
Occupancy---$321,735
Other Employee Benefits---$314,662
Advertising---$291,567
Current Officers, Directors, Trustees, and Key Employees---$262,099
All Other Expenses---$229,542
Payroll Taxes---$159,985
Other Expenses---$142,199
Conferences and Meetings---$112,702
Pension Plan Contributions---$93,252
Insurance---$86,669
Fees for Services Other---$79,539
Fees for Services Accounting---$41,581
Fees for Services Legal---$313
Total Functional Expenses$0$0$0$7,886,574

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$7,886,574
Total Expenses per Audited Statements$7,886,574
Total Expenses per Form 990$7,886,574
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 Shares$149,394,757
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
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, 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 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 19

“The monthly financial statements are posted in the credit union 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
Cent Credit Union
EIN
42-0923713
Phone
6414242368
Address
25 W STATE STREET, MASON CITY, IA 50401

Signing Officer

Name
Matthew Chizek
Title
CEO
Phone
6414242368
Signed
2025-04-21

Organization Details

Principal Officer
Matthew Chizek
Formed
1965
Legal Domicile
Ia
Voting Board Members
6
Independent Board Members
6
Employees
45
Volunteers
6

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”

Raw XML Appendix381 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/BuildingsGrp/DepreciationAmt01104285
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IRS990ScheduleD/EquipmentGrp/BookValueAmt0876230
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0742779
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt01619009
IRS990ScheduleD/ExpensesSubtotalAmt07886574
IRS990ScheduleD/LandGrp/BookValueAmt0385776
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0385776
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0149394757
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0MEMBER SHARES
IRS990ScheduleD/RevenueSubtotalAmt09136574
IRS990ScheduleD/TotalBookValueLandBuildingsAmt03364399
IRS990ScheduleD/TotalExpensesPerForm990Amt07886574
IRS990ScheduleD/TotalLiabilityAmt0149394757
IRS990ScheduleD/TotalRevenuePerForm990Amt09136574
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt09136574
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt07886574
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt1145600
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt2127000
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount121814
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm2RYAN FRANCIS
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt1176150
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt2151445
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0N/A
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ALL DEPOSITORS ARE CONSIDERED MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE CREDIT UNION MEMBERS ELECT ON AN ANNUAL BASIS THE MEMBERS OF THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ANY PROPOSED MERGERS MUST BE APPROVED BY A MAJORITY OF THE MEMBERSHIP.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4NO REVIEW WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE 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/ExplanationTxt6THE MONTHLY FINANCIAL STATEMENTS ARE POSTED IN THE CREDIT UNION LOBBY AND ARE UPDATED ON A MONTHLY BASIS. THE GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE MADE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4D
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 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalProgramServiceRevenueAmt07516618
IRS990/TotalReportableCompFromOrgAmt0562105
IRS990/TotalRevenueGrp/ExclusionAmt09120620
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt09136574
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt015954
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IRS990/USAddress/AddressLine1Txt025 W STATE STREET
IRS990/USAddress/CityNm0MASON CITY
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IRS990/USAddress/ZIPCd050401
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0WWW.CENTCU.ORG
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/PersonNm0MATTHEW CHIZEK
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum06414242368
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-04-21
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0CENT CREDIT UNION
ReturnHeader/Filer/BusinessNameControlTxt0CENT
ReturnHeader/Filer/EIN0420923713
ReturnHeader/Filer/PhoneNum06414242368
ReturnHeader/Filer/USAddress/AddressLine1Txt025 W STATE STREET
ReturnHeader/Filer/USAddress/CityNm0MASON CITY
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IA
ReturnHeader/Filer/USAddress/ZIPCd050401
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0false
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/PreparationDt02025-04-25
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0STEVEN O PETERSEN
ReturnHeader/ReturnTs02025-04-25T12:07:48-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$168,096,833
Liabilities
$148,823,438
Net assets
$19,273,395
Revenue
$9,136,574
Expenses
$7,886,574
Net income
$1,250,000
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$168$149$19.3$9.14$7.89$1.25
2023Detailed filing. Detailed filing data is available for this year.$152$134$18.0$7.63$6.33$1.30
2022Detailed filing. Detailed filing data is available for this year.$73.2$64.3$8.92$3.74$3.17$0.57
2021Detailed filing. Detailed filing data is available for this year.$71.7$63.3$8.35$3.48$2.98$0.51
2020Detailed filing. Detailed filing data is available for this year.$65.3$57.4$7.84$3.39$3.00$0.40
2019Detailed filing. Detailed filing data is available for this year.$56.7$49.2$7.45$3.13$2.98$0.14
2018Detailed filing. Detailed filing data is available for this year.$51.1$43.8$7.30$2.94$2.93$0.01
2017Detailed filing. Detailed filing data is available for this year.$49.2$41.9$7.29$2.43$2.27$0.16
2016Detailed filing. Detailed filing data is available for this year.$43.9$36.8$7.13$2.03$1.66$0.37
2015Detailed filing. Detailed filing data is available for this year.$40.7$34.0$6.77$1.77$1.45$0.32
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$32.5$27.4$5.08$1.00
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$29.7$25.2$4.46$1.19