First Class Community Credit Union

West Des Moines, IAUnknown exempt organizationEIN 42-0214790Revenue $5.6M in FY2025

On file with the IRSgofirstclass.org2051 Westown Parkway · West Des Moines, IA

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State chartered Credit Union

Run by 9 volunteers and 27 employees.
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
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
6 of 6
filings with a surplus
Average surplus $465K a year · 10% of revenue · last 6 filings
Looks good: a surplus in 6 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
$459K
to officers and key staff · 11% of spending
Looks good: pay to officers and key staff is 11% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
41 mo
of spending, in cash
Looks good: 41.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$83.8M
90% of total assets
Concern: liabilities are 90% of assets; over 80%.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$5.6M
+17% vs prior year
Spent
$4.3M
To programs
0%
Net assets
$9.5M
By yearFY2020–FY2025
Revenue
$5.6M
FY2025▲ +17%
Tap a bar for its year
Revenue by fiscal year
FY2020$4.2M
FY2021$4.1M
FY2022$4.4M
FY2023$4.8M
FY2024$4.8M
FY2025$5.6M
Expenses
$4.3M
FY2025▼ -1%
Tap a bar for its year
Expenses by fiscal year
FY2020$4.1M
FY2021$4.0M
FY2022$4.0M
FY2023$4.2M
FY2024$4.4M
FY2025$4.3M
Net assets
$9.5M
FY2025▲ +29%
Tap a bar for its year
Net assets by fiscal year
FY2020$7.3M
FY2021$6.9M
FY2022$4.6M
FY2023$6.1M
FY2024$7.3M
FY2025$9.5M

From the FY2025 Form 990 · see the original

Give Claim

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

12 people listed on the 990; $459K paid to officers and key staff.

Part VII, Section A · reportable compensation
$214,105Pt VII · Sec A
$132,765Pt VII · Sec A
$111,762Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 6 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Zac Pollock$214,105$154,200$138,578$203,738$123,575$120,938
Lauri Duff$132,765—————
Lauri Vaudt—$123,326————
Kathleen Sukup———$117,943$106,723$104,211
Jordyn Henry—$114,462————
Chelsea Bullington$111,762—————

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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

First Class Community Credit Union is a nonprofit organization based in West Des Moines, IA.

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By the numbers

The FY2025 990, line by line.

1The main four
Money inPt VIII
$5.6M
Ln 12
Fees for servicesLn 2g$4.3M
Investment incomeLn 3$1.3M
Money outPt IX
$4.3M
Ln 25
Owns and owesPt X
$9.5M
net assets · Ln 32
Cash and savingsLn 1–2$15.0M
Total assetsLn 16$93.3M
LiabilitiesLn 26$83.8M
PeoplePt VI, VII
12
listed · VII A
PaidVII A3
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$4.3M
Investment incomeLn 3$1.3M
Gains on assetsLn 7$0
Total revenueLn 12$5.6M
Assets in detailPt X, end of year
CashLn 1$1.0M
SavingsLn 2$14.0M
Cash and savings togetherLn 1–2$15.0M
InvestmentsLn 11–13$32.4M
Land, buildings, equipmentLn 10c$2.1M
Other assetsLn 15$3.3M
Total assetsLn 16$93.3M
LiabilitiesLn 26$83.8M
Net assetsLn 32$9.5M
OperationsPt I, VI
EmployeesI 527
VolunteersI 69
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
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$16.7M$15.0M
InvestmentsLn 11–13$30.2M$32.4M
Land, buildings, equipmentLn 10c$2.2M$2.1M
Total assetsLn 16$94.4M$93.3M
LiabilitiesLn 26$87.1M$83.8M
Net assetsLn 32$7.3M$9.5M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$271K
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$1.1M
Pension plan contributionsLn 8$51K
Other employee benefitsLn 9$193K
Payroll taxesLn 10$109K
Management feesLn 11a$0
Legal feesLn 11b$3K
Accounting feesLn 11c$30K
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$0
Advertising and promotionLn 12$124K
Office expensesLn 13$365K
Information technologyLn 14$0
RoyaltiesLn 15$0
OccupancyLn 16$165K
TravelLn 17$0
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$32K
InterestLn 20$2K
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$168K
InsuranceLn 23$43K
Other expenses (24a–d)Ln 24$1.2M
All other expensesLn 24e$570K
Total functional expensesLn 25$4.3M$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $5.6M$4.3M$1.3M$9.5M 990 PDF
FY2024 $4.8M$4.4M$389K$7.3M 990 PDF
FY2023 $4.8M$4.2M$532K$6.1M 990 PDF
FY2022 $4.4M$4.0M$361K$4.6M 990 PDF
FY2021 $4.1M$4.0M$109K$6.9M 990 PDF
FY2020 $4.2M$4.1M$114K$7.3M 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 FY2025 990 (6 parts)
Part I · Summary $5,629,371 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $4,073,095$4,314,101
I-10 Investment incomePrior year $726,850$1,315,270
I-11 Other revenue$0
I-12 Total revenuePrior year $4,799,945$5,629,371
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $1,501,897$1,681,795
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $2,908,832$2,664,082
I-18 Total expensesPrior year $4,410,729$4,345,877
I-19 Revenue less expensesPrior year $389,216$1,283,494
Part VI · Governance 9 of 9 board members independent, 1 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
VI-13 Written whistleblower policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $5,629,371 across 8 lines filed
VIII-1h Total contributions, gifts and grants$0
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Excluded from tax $4,314,101$4,314,101
VIII-3 Investment incomeExcluded from tax $1,315,270$1,315,270
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assets$0
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueExcluded from tax $5,629,371$5,629,371
Part IX · Statement of functional expenses $4,345,877 across 31 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staff$271,431
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wages$1,057,913
IX-8 Pension plan contributions$50,891
IX-9 Other employee benefits$192,948
IX-10 Payroll taxes$108,612
IX-11a Management fees$0
IX-11b Legal fees$3,102
IX-11c Accounting fees$29,732
IX-11d Lobbying fees$0
IX-11e Professional fundraising fees$0
IX-11f Investment management fees$0
IX-11g Other fees for services$0
IX-12 Advertising and promotion$123,525
IX-13 Office expenses$364,844
IX-14 Information technology$0
IX-15 Royalties$0
IX-16 Occupancy$165,483
IX-17 Travel$0
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$32,309
IX-20 Interest$1,858
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortization$168,432
IX-23 Insurance$42,856
IX-24 Other expenses (24a–d)$1,162,318
IX-24e All other expenses$569,623
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$4,345,877
Part X · Balance sheet $93,253,254 assets, 18 lines filed
Asset lines not itemized here account for $40,083,392; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $1,438,627$1,009,952
X-2 Savings and temporary cash investmentsStart of year $15,284,044$13,996,719
X-3 Pledges and grants receivable$0
X-4 Accounts receivableStart of year $161,053$199,030
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred chargesStart of year $239,773$179,393
X-10c Land, buildings and equipment, netStart of year $2,190,792$2,080,055
X-11 Publicly traded securitiesStart of year $30,189,441$32,427,890
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assets$0
X-15 Other assetsStart of year $3,091,732$3,276,823
X-16 Total assetsStart of year $94,426,306$93,253,254
X-17 Accounts payable and accrued expensesStart of year $254,186$123,480
X-25 Other liabilitiesStart of year $86,856,761$83,671,323
X-26 Total liabilitiesStart of year $87,110,947$83,794,803
X-32 Total net assets or fund balancesStart of year $7,315,359$9,458,451
X-33 Total liabilities and net assetsStart of year $94,426,306$93,253,254
Part XI · Reconciliation of net assets $9,458,451 net assets at year end
XI-1 Total revenue$5,629,371
XI-2 Total expenses$4,345,877
XI-3 Revenue less expenses$1,283,494
XI-4 Net assets at start of year$7,315,359
XI-9 Other changes in net assets$859,598
XI-10 Net assets at end of year$9,458,451

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

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