philanthropy.org | 990 Resource | FAQ Verify yourself
Sign in

First Pace Credit Union

Not tax-deductible

West St Paul, MNMutual-benefit / member-servingEIN 41-0874898Revenue $436K in FY2024

On file with the IRSfirstpacecu.com161 Marie Ave E, 55118-4004 · West St Paul, MNTax-exempt since Sep 1944

Claim this org

(tell your story, add context, and more)

What claiming does How does your 990 look to donors? Take the 10-Question Audit

Provide savings, loans and other financial services to members at terms generally better than available in the marketplace and with a "service-based emphasis" that recognizes the members as "owners."

Run by 8 volunteers and 3 employees.
Mission: Form 990 Part I, line 1 · People: Part I, lines 5–6

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average deficit $11K a year · 3% of revenue · last 5 filings
Concern: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 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
$108K
to officers and key staff · 22% of spending
Worth a look: pay to officers and key staff is 22% of spending; over 20%.
Pt VII · Sec A
Cash reserves
40 mo
of spending, in cash
Looks good: 40.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$7.4M
81% of total assets
Concern: liabilities are 81% 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
$436K
+9% vs prior year
Spent
$490K
To programs
0%
Net assets
$1.8M
By yearFY2020–FY2024
Revenue
$436K
FY2024▲ +9%
Tap a bar for its year
Revenue by fiscal year
FY2020$402K
FY2021$418K
FY2022$388K
FY2023$399K
FY2024$436K
Expenses
$490K
FY2024▲ +3%
Tap a bar for its year
Expenses by fiscal year
FY2020$370K
FY2021$361K
FY2022$399K
FY2023$478K
FY2024$490K
Net assets
$1.8M
FY2024▼ -3%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.8M
FY2021$1.9M
FY2022$1.9M
FY2023$1.8M
FY2024$1.8M

From the FY2024 Form 990 · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Sep 1944.

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

Who runs it and what they're paid

7 people listed on the 990; $108K paid to officers and key staff.

Part VII, Section A · reportable compensation
$108,450Pt VII · Sec A
John Knetter
Chair (paria
$0Pt VII · Sec A
Brian Ecker
Chair (paria
$0Pt VII · Sec A
Dan Gerten
Vice Chair
$0Pt VII · Sec A
$0Pt VII · Sec A
Ray Kobler
Secretary
$0Pt VII · Sec A
Mike Popek
Director
$0Pt VII · Sec A

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

NameFY2024FY2023FY2022FY2021FY2020
Chris Lamminen$108,450$51,188———
Jennifer Tiedman——$65,188$64,550$64,163

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.

See First Pace Credit Union executive salaries →

On this list? Claim this org

Something off? Claim to add context

Questions the 990 asks

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

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Offers members better financial services and ownership benefits through savings and loans.

Questions for First Pace Credit Union

Tap to ask. First Pace Credit Union sees how many people are interested.

Your first name shows with your question. First Pace Credit Union answers here, for everyone.

Provided by the organization

Know this org? Add your story

2 programs · in their own filed words · FY2024
01

The credit union has several types of loan programs available for our members. We funded 106 new loans during 2024. As of 12/31/24 we had 344 outstanding loans receivable.

Pt IX · col B
02

The credit union has various types of deposit accounts available for our members. We opened 41 new deposit accounts in 2024. As of 12/31/24 we had 932 members.

Pt IX · col B

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$436K
Ln 12
Fees for servicesLn 2g$386K
Investment incomeLn 3$46K
Other incomeLn 4–11$3K
Money outPt IX
$490K
Ln 25
Owns and owesPt X
$1.8M
net assets · Ln 32
Cash and savingsLn 1–2$1.7M
Total assetsLn 16$9.2M
LiabilitiesLn 26$7.4M
PeoplePt VI, VII
7
listed · VII A
PaidVII A1
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2K
Fees for servicesLn 2g$386K
Investment incomeLn 3$46K
Other incomeLn 4–11$3K
Total revenueLn 12$436K
Assets in detailPt X, end of year
CashLn 1$22K
SavingsLn 2$1.6M
Cash and savings togetherLn 1–2$1.7M
InvestmentsLn 11–13$1.7M
Other assetsLn 15$128K
Total assetsLn 16$9.2M
LiabilitiesLn 26$7.4M
Net assetsLn 32$1.8M
OperationsPt I, VI
EmployeesI 53
VolunteersI 68
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13Yes
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$85K$1.7M
InvestmentsLn 11–13$607K$1.7M
Total assetsLn 16$9.5M$9.2M
LiabilitiesLn 26$7.7M$7.4M
Net assetsLn 32$1.8M$1.8M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$108K
Other salaries and wagesLn 7$80K
Pension plan contributionsLn 8$9K
Other employee benefitsLn 9$30K
Payroll taxesLn 10$2K
Accounting feesLn 11c$1K
Advertising and promotionLn 12$3K
Office expensesLn 13$89K
Information technologyLn 14$52K
OccupancyLn 16$21K
Conferences, conventions and meetingsLn 19$9K
InterestLn 20$2
Depreciation, depletion and amortizationLn 22$721
InsuranceLn 23$15K
Other expenses (24a–d)Ln 24$71K
Total functional expensesLn 25$490K$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $436K$490K−$54K$1.8M 990 PDF
FY2023 $399K$478K−$79K$1.8M 990 PDF
FY2022 $388K$399K−$11K$1.9M 990 PDF
FY2021 $418K$361K$57K$1.9M 990 PDF
FY2020 $402K$370K$33K$1.8M 990 PDF

More to add? Claim this org

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $436,331 revenue, 12 lines filed
I-8 Contributions and grants$2,000
I-9 Program service revenuePrior year $324,551$385,565
I-10 Investment incomePrior year $74,000$45,999
I-11 Other revenue$2,767
I-12 Total revenuePrior year $398,551$436,331
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to membersPrior year $40,931$0
I-15 Salaries and benefitsPrior year $206,822$228,955
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $230,267$261,523
I-18 Total expensesPrior year $478,020$490,478
I-19 Revenue less expensesPrior year −$79,469−$54,147
Part VI · Governance 5 of 5 board members independent, 2 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
VI-12a Written conflict of interest policyNo
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-13 Written whistleblower policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $436,331 across 6 lines filed
VIII-1f All other contributions, gifts and grants$2,000
VIII-1h Total contributions, gifts and grants$2,000
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $385,565$385,565
VIII-3 Investment incomeExcluded from tax $45,999$45,999
VIII-5 RoyaltiesExcluded from tax $2,767$2,767
VIII-12 Total revenueRelated to mission $385,565 · Excluded from tax $48,766$436,331
Part IX · Statement of functional expenses $490,478 across 15 lines filed
IX-5 Pay of current officers, directors and key staff$108,450
IX-7 Other salaries and wages$79,624
IX-8 Pension plan contributions$9,404
IX-9 Other employee benefits$29,928
IX-10 Payroll taxes$1,549
IX-11c Accounting fees$1,027
IX-12 Advertising and promotion$2,646
IX-13 Office expenses$88,643
IX-14 Information technology$51,901
IX-16 Occupancy$21,224
IX-19 Conferences, conventions and meetings$9,494
IX-20 Interest$2
IX-22 Depreciation, depletion and amortization$721
IX-23 Insurance$14,680
IX-24 Other expenses (24a–d)$71,185
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$490,478
Part X · Balance sheet $9,183,725 assets, 11 lines filed
Asset lines not itemized here account for $5,647,253; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $22,775$21,885
X-2 Savings and temporary cash investmentsStart of year $62,263$1,631,103
X-9 Prepaid expenses and deferred chargesStart of year $16,389$13,891
X-13 Program-related investmentsStart of year $606,790$1,741,795
X-15 Other assetsStart of year $135,885$127,798
X-16 Total assetsStart of year $9,529,737$9,183,725
X-17 Accounts payable and accrued expensesStart of year $61,702$15,389
X-25 Other liabilitiesStart of year $7,652,576$7,407,024
X-26 Total liabilitiesStart of year $7,714,278$7,422,413
X-32 Total net assets or fund balancesStart of year $1,815,459$1,761,312
X-33 Total liabilities and net assetsStart of year $9,529,737$9,183,725
Part XI · Reconciliation of net assets $1,761,312 net assets at year end
XI-1 Total revenue$436,331
XI-2 Total expenses$490,478
XI-3 Revenue less expenses−$54,147
XI-4 Net assets at start of year$1,815,459
XI-10 Net assets at end of year$1,761,312

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

Similar organizations you could support · Compare with another nonprofit

Names, privacy, and removal requests More

The names, titles, and compensation shown on this page are reproduced from IRS Form 990 filings, which are public records.

Philanthropy.org does not alter the content of those filings. All information appears exactly as reported by the filing organization for the tax year shown.

We publish only information contained in the public IRS filing — and less than the filing contains. Our profile pages do not display street addresses, telephone numbers, personal email addresses, or other personal contact information, even where the filing includes them.

Many people share the same name. A name shown on this page reflects only what one organization reported in one IRS filing for one tax year. It should not be interpreted as identifying any other individual with the same or a similar name.

If you are no longer affiliated with the organization, your name will generally stop appearing in future IRS filings once the organization no longer reports you. Pages for tax years in which you were reported remain published because those filings remain part of the public record.

Philanthropy.org does not alter or remove IRS filing records. Removing a page from this website would not remove the underlying IRS filing, which remains publicly available from the IRS and other publishers of the same information.

If you believe the IRS filing itself is inaccurate, corrections must be made by the filing organization or the IRS directly.

Your org? Add context

Made it to the end? Claim this org

All figures are derived from public IRS Form 990 filings and are presented without evaluation of any organization. philanthropy.org does not rate, score, or rank organizations, including the pay comparisons above.