1st Class Express Credit Union FY2020 filing

Waukesha, WIUnknown exempt organizationSince 1932EIN 39-0849876Revenue $185K in FY2020

On file with the IRSPo Box 1 · Waukesha, WI

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To encourage thrift among our members, to create a source of Credit at a fair and reasonable cost, and to provide an opportunity for each of our members to improve their respective economic and social conditions.

$42K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Pay: Part VII

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 6
filings with a surplus
Average surplus $10K a year · 6% of revenue · last 6 filings
Fine: a surplus in 5 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$42K
to officers and key staff · 28% of spending
Worth a look: pay to officers and key staff is 28% of spending; over 20%.
Pt VII · Sec A
Cash reserves
66 mo
of spending, in cash
Looks good: 66.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $10K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$2.3M
83% of total assets
Concern: liabilities are 83% of assets; over 80%.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$185K
Spent
$151K
To programs
0%
Net assets
$475K
By yearFY2020–FY2025
Revenue
$185K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$185K
FY2021$147K
FY2022$154K
FY2023$179K
FY2024$177K
FY2025$162K
Expenses
$151K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$151K
FY2021$138K
FY2022$145K
FY2023$169K
FY2024$201K
FY2025$140K
Net assets
$475K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$475K
FY2021$484K
FY2022$493K
FY2023$503K
FY2024$479K
FY2025$502K

From the FY2020 Form 990 · see the original

990 PDF Claim
You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

6 people listed on the 990; $42K paid to officers and key staff.

Part VII, Section A · reportable compensation
President
$41,600Pt VII · Sec A
$0Pt VII · Sec A
Vice Chair
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Susan Ross$26,000$26,000$22,200$40,400$40,200$41,600
Jacky Leverance——$25,912———

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Helps members save money, access affordable loans, and improve their economic and social well-being.

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Provided by the organization

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2 programs · in their own filed words · FY2020
01

The credit union has several types of loan programs available for our members. We funded 49 new loans to our members during 2020. As of 12/31/20 we had 293 loans to our members.

Pt IX · col B
02

The credit union has various types of deposit accounts available for our members. We opened 22 new deposit accounts in 2020. As of 12/31/20 we had 676 members.

Pt IX · col B

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2020
Total grants receivedfrom 1 funder$10K

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$185K
Ln 12
Fees for servicesLn 2g$167K
Gifts and grantsLn 1h$10K
Other incomeLn 4–11$7K
Money outPt IX
$151K
Ln 25
Owns and owesPt X
$475K
net assets · Ln 32
Cash and savingsLn 1–2$837K
Total assetsLn 16$2.8M
LiabilitiesLn 26$2.3M
PeoplePt VI, VII
6
listed · VII A
PaidVII A1
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$10K
Fees for servicesLn 2g$167K
Investment incomeLn 3$1K
Other incomeLn 4–11$7K
Total revenueLn 12$185K
Assets in detailPt X, end of year
CashLn 1$36K
SavingsLn 2$801K
Cash and savings togetherLn 1–2$837K
InvestmentsLn 11–13$13K
Land, buildings, equipmentLn 10c$83K
Other assetsLn 15$18K
Total assetsLn 16$2.8M
LiabilitiesLn 26$2.3M
Net assetsLn 32$475K
OperationsPt I, VI
EmployeesI 57
VolunteersI 69
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$166K$837K
InvestmentsLn 11–13$8K$13K
Land, buildings, equipmentLn 10c$89K$83K
Total assetsLn 16$2.3M$2.8M
LiabilitiesLn 26$1.8M$2.3M
Net assetsLn 32$441K$475K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$42K
Other salaries and wagesLn 7$15K
Other employee benefitsLn 9$5K
Payroll taxesLn 10$4K
Other fees for servicesLn 11g$2K
Advertising and promotionLn 12$3K
Office expensesLn 13$48K
OccupancyLn 16$28K
Conferences, conventions and meetingsLn 19$4K
Depreciation, depletion and amortizationLn 22$6K
Other expenses (24a–d)Ln 24−$7K
Total functional expensesLn 25$151K$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $162K$140K$23K$502K 990 PDF
FY2024 $177K$201K−$24K$479K 990 PDF
FY2023 $179K$169K$10K$503K 990 PDF
FY2022 $154K$145K$9K$493K 990 PDF
FY2021 $147K$138K$9K$484K 990 PDF
FY2020 Viewing $185K$151K$34K$475K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2020 990 (6 parts)
Part I · Summary $184,607 revenue, 12 lines filed
I-8 Contributions and grants$9,600
I-9 Program service revenuePrior year $165,817$167,398
I-10 Investment incomePrior year $3,521$1,009
I-11 Other revenuePrior year $6,600$6,600
I-12 Total revenuePrior year $175,938$184,607
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $65,682$66,717
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $74,412$84,318
I-18 Total expensesPrior year $140,094$151,035
I-19 Revenue less expensesPrior year $35,844$33,572
Part VI · Governance 5 of 5 board members independent, 3 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $184,607 across 6 lines filed
VIII-1f All other contributions, gifts and grants$9,600
VIII-1h Total contributions, gifts and grants$9,600
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $167,398$167,398
VIII-3 Investment incomeExcluded from tax $1,009$1,009
VIII-6 Net rental income or lossExcluded from tax $6,600$6,600
VIII-12 Total revenueRelated to mission $167,398 · Excluded from tax $7,609$184,607
Part IX · Statement of functional expenses $151,035 across 11 lines filed
IX-5 Pay of current officers, directors and key staff$41,600
IX-7 Other salaries and wages$15,405
IX-9 Other employee benefits$5,262
IX-10 Payroll taxes$4,450
IX-11g Other fees for services$2,457
IX-12 Advertising and promotion$2,726
IX-13 Office expenses$48,036
IX-16 Occupancy$27,591
IX-19 Conferences, conventions and meetings$3,870
IX-22 Depreciation, depletion and amortization$6,417
IX-24 Other expenses (24a–d)−$6,779
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$151,035
Part X · Balance sheet $2,760,638 assets, 12 lines filed
Asset lines not itemized here account for $1,808,041; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $8,813$36,093
X-2 Savings and temporary cash investmentsStart of year $157,231$800,518
X-9 Prepaid expenses and deferred chargesStart of year $2,921$2,223
X-10c Land, buildings and equipment, netStart of year $89,065$82,648
X-13 Program-related investmentsStart of year $8,267$12,818
X-15 Other assetsStart of year $20,219$18,297
X-16 Total assetsStart of year $2,280,890$2,760,638
X-17 Accounts payable and accrued expensesStart of year $9,864$17,990
X-25 Other liabilitiesStart of year $1,829,690$2,267,740
X-26 Total liabilitiesStart of year $1,839,554$2,285,730
X-32 Total net assets or fund balancesStart of year $441,336$474,908
X-33 Total liabilities and net assetsStart of year $2,280,890$2,760,638
Part XI · Reconciliation of net assets $474,908 net assets at year end
XI-1 Total revenue$184,607
XI-2 Total expenses$151,035
XI-3 Revenue less expenses$33,572
XI-4 Net assets at start of year$441,336
XI-10 Net assets at end of year$474,908

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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