Danfoss Employees Credit Union

Not tax-deductible

Plymouth, MNMutual-benefit / member-servingSince 1949Mutual / membership EIN 41-6036331Revenue $178K in FY2025Latest return filed Aug 14, 2026

On file with the IRSdanfosscu.comPlymouth, MNTax-exempt since Sep 1944

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Meet our members' needs by providing service with a personal touch, cultivating close relationships, offering financial guidance, and safeguarding our members' assets.

Form 990 Part I, line 1, FY2025. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 41-6036331) · Dispute this line
Run by 10 volunteers and 1 employee.
Mission: Form 990 Part I, line 1 · People: Part I, lines 5–6

Before you give

FY2025 · Form 990Independent: from IRS data, not the org
Download 990
Tax-deductible gifts
No
Donations are not tax-deductible
The IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
The latest return is for FY2025, 1 tax year back.
IRS e-file · Filing history
Surplus or deficit
4 of 6
filings with a surplus
Average deficit $2K a year · 1% of revenue · last 6 filings
A surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Pay to officers and key staff
$87K
to officers and key staff · 47% of spending
Pay to officers and key staff is 47% of spending.
Part VII, Section A
18.2 mo
of spending, in cash
18.2 months of spending in cash.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$1.7M
86% of total assets
Liabilities are 86% of assets.
Pt X · Ln 26
Independent board members
6
of 6 voting members
6 of 6 voting members are independent.
Pt VI · Ln 1a–1b
Revenue
$178K
-8% vs prior year
Spent
$185K
Net assets
$274K
By yearFY2020–FY2025
Revenue
$178K
FY2025▼ -8%
Tap a bar for its year
Revenue by fiscal year
FY2020$145K
FY2021$139K
FY2022$150K
FY2023$198K
FY2024$194K
FY2025$178K
Expenses
$185K
FY2025▼ -2%
Tap a bar for its year
Expenses by fiscal year
FY2020$165K
FY2021$139K
FY2022$143K
FY2023$192K
FY2024$190K
FY2025$185K
Net assets
$274K
FY2025▼ -2%
Tap a bar for its year
Net assets by fiscal year
FY2020$264K
FY2021$265K
FY2022$271K
FY2023$277K
FY2024$281K
FY2025$274K

From the FY2025 Form 990 · see the original

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. 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; $87K paid to officers and key staff (Part VII, Section A).

Part VII, Section A · reportable compensation
$87,190Pt VII · Sec A
$0Pt VII · Sec A
Vice Chair
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
$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
Ann Healey-Allen$87,190$75,200$74,450$66,800$61,900$60,060
Steve Zumbusch———$262——

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 Danfoss Employees Credit Union executive salaries →

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

Helps members with financial guidance, asset protection, and personal service.

Questions for Danfoss Employees Credit Union

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2 programs · in their own filed words · FY2025
01

The credit union has several types of loan programs available for our members. We funded 15 new loans to our members during 2025. As of 12/31/25 we had 184 loans to our members.

Form 990 Part III, line 4, FY2025. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 41-6036331) · Dispute this line
Pt IX · Ln 25 · col B
02

The credit union has various types of deposit accounts available for our members. We opened 7 new deposit accounts in 2025. As of 12/31/25 we had 301 members.

Form 990 Part III, line 4, FY2025. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 41-6036331) · Dispute this line
Pt IX · Ln 25 · col B

By the numbers

The FY2025 990, line by line.

1The main four
Money inPt VIII
$178K
Ln 12
Fees for servicesLn 2g$166K
Investment incomeLn 3$12K
Money outPt IX
$185K
Ln 25
Owns and owesPt X
$274K
net assets · Ln 32
Cash and savingsLn 1–2$281K
Total assetsLn 16$2.0M
LiabilitiesLn 26$1.7M
PeoplePt VI, VII
7
listed · VII A
PaidVII A1
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$166K
Investment incomeLn 3$12K
Total revenueLn 12$178K
Assets in detailPt X, end of year
CashLn 1$1K
SavingsLn 2$280K
Cash and savings togetherLn 1–2$281K
Notes and loans receivableLn 7$1.7M
Prepaid expenses and deferred chargesLn 9−$3K
Land, buildings, equipmentLn 10c$10K
InvestmentsLn 11–13$24K
Other assetsLn 15$31K
Total assetsLn 16$2.0M
LiabilitiesLn 26$1.7M
Net assetsLn 32$274K
OperationsPt I, VI
EmployeesI 51
VolunteersI 610
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 FY25End FY25
Cash and savingsLn 1–2$431K$281K
InvestmentsLn 11–13$74K$24K
Land, buildings, equipmentLn 10c$11K$10K
Total assetsLn 16$2.4M$2.0M
LiabilitiesLn 26$2.1M$1.7M
Net assetsLn 32$281K$274K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of officers and key staff (Part IX, line 5)Ln 5$87K
Payroll taxesLn 10$7K
Accounting feesLn 11c$4K
Other fees for servicesLn 11g$5K
Advertising and promotionLn 12$34
Office expensesLn 13$25K
Information technologyLn 14$6K
InterestLn 20$11
Depreciation, depletion and amortizationLn 22$836
InsuranceLn 23$6K
Other expenses (24a–d)Ln 24$44K
Total functional expensesLn 25$185K$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest ViewingFiled with the IRS Aug 14, 2026 $178K$185K−$7K$274K 990 PDF
FY2024Filed with the IRS Sep 26, 2025 $194K$190K$5K$281K 990 PDF
FY2023Filed with the IRS Oct 24, 2024 $198K$192K$6K$277K 990 PDF
FY2022Filed with the IRS Nov 2, 2023 $150K$143K$7K$271K 990 PDF
FY2021Filed with the IRS Dec 11, 2022 $139K$139K$66$265K 990 PDF
FY2020Filed with the IRS Nov 1, 2021 $145K$165K−$21K$264K 990 PDF

Schedules filed Part IV

D · Assets and endowments O · Explanations
See the full FY2025 990
Part I · Summary $178,160 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $752$0
I-9 Program service revenuePrior year $170,795$165,879
I-10 Investment incomePrior year $22,826$12,281
I-11 Other revenue$0
I-12 Total revenuePrior year $194,373$178,160
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $81,079$93,996
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $108,708$91,155
I-18 Total expensesPrior year $189,787$185,151
I-19 Revenue less expensesPrior year $4,586−$6,991
Part VI · Governance 6 of 6 board members independent, 2 to look at
VI-1a Voting members of the governing body6
VI-1b Independent voting members6
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $178,160 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $165,715 · Unrelated business $164$165,879
VIII-3 Investment incomeExcluded from tax $12,281$12,281
VIII-12 Total revenueRelated to mission $165,715 · Unrelated business $164 · Excluded from tax $12,281$178,160
Part IX · Statement of functional expenses $185,151 across 11 lines filed
IX-5 Pay of officers and key staff (Part IX, line 5)$87,190
IX-10 Payroll taxes$6,806
IX-11c Accounting fees$4,461
IX-11g Other fees for services$4,626
IX-12 Advertising and promotion$34
IX-13 Office expenses$25,362
IX-14 Information technology$6,386
IX-20 Interest$11
IX-22 Depreciation, depletion and amortization$836
IX-23 Insurance$5,753
IX-24 Other expenses (24a–d)$43,686
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$185,151
Part X · Balance sheet $1,993,467 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $52,636$1,335
X-2 Savings and temporary cash investmentsStart of year $377,890$279,816
X-7 Notes and loans receivableStart of year $1,825,393$1,650,204
X-9 Prepaid expenses and deferred chargesStart of year −$5,011−$3,470
X-10c Land, buildings and equipment, netStart of year $10,550$9,714
X-13 Program-related investmentsStart of year $74,500$24,500
X-15 Other assetsStart of year $30,204$31,368
X-16 Total assetsStart of year $2,366,162$1,993,467
X-17 Accounts payable and accrued expensesStart of year $38,071$44,890
X-25 Other liabilitiesStart of year $2,046,736$1,674,213
X-26 Total liabilitiesStart of year $2,084,807$1,719,103
X-31 Retained earnings or endowmentStart of year $281,355$274,364
X-32 Total net assets or fund balancesStart of year $281,355$274,364
X-33 Total liabilities and net assetsStart of year $2,366,162$1,993,467
Part XI · Reconciliation of net assets $274,364 net assets at year end
XI-1 Total revenue$178,160
XI-2 Total expenses$185,151
XI-3 Revenue less expenses−$6,991
XI-4 Net assets at start of year$281,355
XI-10 Net assets at end of year$274,364

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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