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First Class Community Credit Union FY2020 filing

West Des Moines, IAUnknown exempt organization EIN 42-0214790Revenue $4.2M in FY2020

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

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State chartered Credit Union

$225K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Pay: Part VII

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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
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
$225K
to officers and key staff · 5% of spending
Looks good: pay to officers and key staff is 5% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
106 mo
of spending, in cash
Looks good: 105.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$85.8M
92% of total assets
Concern: liabilities are 92% of assets; over 80%.
Pt X · Ln 26
Independent board members
10
of 10 voting members
Looks good: 10 of 10 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$4.2M
Spent
$4.1M
To programs
0%
Net assets
$7.3M
By yearFY2020–FY2025
Revenue
$4.2M
FY2020
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
$4.1M
FY2020
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
$7.3M
FY2020
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 FY2020 Form 990 · see the original

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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

12 people listed on the 990; $225K paid to officers and key staff.

Part VII, Section A · reportable compensation
$120,938Pt VII · Sec A
Kathleen Sukup
Executive Vi
$104,211Pt VII · Sec A
Lance Coles
Board Member
$0Pt VII · Sec A
Carol Cowling
Board Member
$0Pt VII · Sec A
Craig Doster
Board Member
$0Pt VII · Sec A
James Gearhart
Board Member
$0Pt VII · Sec A
Brad Jacobson
Board Member
$0Pt VII · Sec A
Larry Moore
Board Member
$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.

See First Class Community Credit Union executive salaries →

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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 FY2020 990, line by line.

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from philanthropy.org
1The main four
Money inPt VIII
$4.2M
Ln 12
Fees for servicesLn 2g$3.6M
Investment incomeLn 3$670K
Money outPt IX
$4.1M
Ln 25
Owns and owesPt X
$7.3M
net assets · Ln 32
Cash and savingsLn 1–2$36.4M
Total assetsLn 16$93.1M
LiabilitiesLn 26$85.8M
PeoplePt VI, VII
12
listed · VII A
PaidVII A2
Voting boardVI 1a10
IndependentVI 1b10
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$3.6M
Investment incomeLn 3$670K
Total revenueLn 12$4.2M
Assets in detailPt X, end of year
CashLn 1$1.2M
SavingsLn 2$35.2M
Cash and savings togetherLn 1–2$36.4M
InvestmentsLn 11–13$18.1M
Land, buildings, equipmentLn 10c$1.2M
Other assetsLn 15$2.8M
Total assetsLn 16$93.1M
LiabilitiesLn 26$85.8M
Net assetsLn 32$7.3M
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 FY20End FY20
Cash and savingsLn 1–2$26.8M$36.4M
InvestmentsLn 11–13$11.4M$18.1M
Land, buildings, equipmentLn 10c$1.2M$1.2M
Total assetsLn 16$79.8M$93.1M
LiabilitiesLn 26$72.7M$85.8M
Net assetsLn 32$7.1M$7.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$1.0M
Pension plan contributionsLn 8$73K
Other employee benefitsLn 9$115K
Payroll taxesLn 10$75K
Legal feesLn 11b$20K
Accounting feesLn 11c$16K
Advertising and promotionLn 12$99K
Office expensesLn 13$348K
OccupancyLn 16$145K
Conferences, conventions and meetingsLn 19$17K
Depreciation, depletion and amortizationLn 22$133K
InsuranceLn 23$32K
Other expenses (24a–d)Ln 24$1.8M
All other expensesLn 24e$215K
Total functional expensesLn 25$4.1M$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $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 Viewing $4.2M$4.1M$114K$7.3M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $4,247,644 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $3,618,089$3,578,025
I-10 Investment incomePrior year $844,750$669,619
I-11 Other revenue$0
I-12 Total revenuePrior year $4,462,839$4,247,644
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $1,223,442$1,267,277
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $3,004,602$2,866,757
I-18 Total expensesPrior year $4,228,044$4,134,034
I-19 Revenue less expensesPrior year $234,795$113,610
Part VI · Governance 10 of 10 board members independent, 1 to look at
VI-1a Voting members of the governing body10
VI-1b Independent voting members10
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 $4,247,644 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Excluded from tax $3,578,025$3,578,025
VIII-3 Investment incomeExcluded from tax $669,619$669,619
VIII-12 Total revenueExcluded from tax $4,247,644$4,247,644
Part IX · Statement of functional expenses $4,134,034 across 14 lines filed
IX-7 Other salaries and wages$1,004,342
IX-8 Pension plan contributions$73,175
IX-9 Other employee benefits$115,045
IX-10 Payroll taxes$74,715
IX-11b Legal fees$20,261
IX-11c Accounting fees$15,560
IX-12 Advertising and promotion$98,917
IX-13 Office expenses$347,764
IX-16 Occupancy$144,873
IX-19 Conferences, conventions and meetings$17,026
IX-22 Depreciation, depletion and amortization$132,568
IX-23 Insurance$32,012
IX-24 Other expenses (24a–d)$1,842,298
IX-24e All other expenses$215,478
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$4,134,034
Part X · Balance sheet $93,065,481 assets, 13 lines filed
Asset lines not itemized here account for $34,110,974; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $1,330,793$1,167,190
X-2 Savings and temporary cash investmentsStart of year $25,485,186$35,239,121
X-4 Accounts receivableStart of year $134,847$134,095
X-9 Prepaid expenses and deferred chargesStart of year $352,383$275,258
X-10c Land, buildings and equipment, netStart of year $1,249,457$1,205,385
X-11 Publicly traded securitiesStart of year $11,373,345$18,086,374
X-15 Other assetsStart of year $2,752,584$2,847,084
X-16 Total assetsStart of year $79,791,069$93,065,481
X-17 Accounts payable and accrued expensesStart of year $1,164,785$943,708
X-25 Other liabilitiesStart of year $71,501,803$84,853,742
X-26 Total liabilitiesStart of year $72,666,588$85,797,450
X-32 Total net assets or fund balancesStart of year $7,124,481$7,268,031
X-33 Total liabilities and net assetsStart of year $79,791,069$93,065,481
Part XI · Reconciliation of net assets $7,268,031 net assets at year end
XI-1 Total revenue$4,247,644
XI-2 Total expenses$4,134,034
XI-3 Revenue less expenses$113,610
XI-4 Net assets at start of year$7,124,481
XI-9 Other changes in net assets$29,940
XI-10 Net assets at end of year$7,268,031

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

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