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Waterloo Fireman's Credit Union

Waterloo, IAUnknown exempt organizationSince 1933 EIN 42-0742939Revenue $134K in FY2025

On file with the IRS425 E 3rd Street · Waterloo, IA

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Credit unions create a source of Credit at a fair and reasonable rate of interest.

100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

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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 $16K a year · 17% 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
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
79 mo
of spending, in cash
Looks good: 79.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$2.4M
87% of total assets
Concern: liabilities are 87% 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
$134K
+4% vs prior year
Spent
$104K
To programs
100%
Net assets
$358K
By yearFY2020–FY2025
Revenue
$134K
FY2025▲ +4%
Tap a bar for its year
Revenue by fiscal year
FY2020$67K
FY2021$70K
FY2022$80K
FY2023$109K
FY2024$128K
FY2025$134K
Expenses
$104K
FY2025▲ +6%
Tap a bar for its year
Expenses by fiscal year
FY2020$64K
FY2021$65K
FY2022$70K
FY2023$91K
FY2024$98K
FY2025$104K
Net assets
$358K
FY2025▲ +9%
Tap a bar for its year
Net assets by fiscal year
FY2020$264K
FY2021$270K
FY2022$280K
FY2023$298K
FY2024$328K
FY2025$358K

From the FY2025 Form 990 · see the original

990 PDF 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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $104K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

3 people listed on the 990.

Part VII, Section A · reportable compensation
Chris Linder
President
$0Pt VII · Sec A
$0Pt VII · Sec A
Ben Weber
Vice Preside
$0Pt VII · Sec A
See Waterloo Fireman's 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

Provide affordable loans and financial services to members.

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Provided by the organization

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1 program · in their own filed words · FY2025
01

Credit unions create a source of credit at a fair and reasonable rate of interest, encourage habits of thrift among their members, and provide an opportunity for their members to use and control their own money on a democratic basis in order to improve their economic and social condition.

Pt IX · col B

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$134K
Ln 12
Investment incomeLn 3$134K
Other incomeLn 4–11$114
Money outPt IX
$104K
Ln 25
Programscol B$104K
Owns and owesPt X
$358K
net assets · Ln 32
Cash and savingsLn 1–2$688K
Total assetsLn 16$2.8M
LiabilitiesLn 26$2.4M
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Investment incomeLn 3$134K
Other incomeLn 4–11$114
Total revenueLn 12$134K
Assets in detailPt X, end of year
CashLn 1$197K
SavingsLn 2$491K
Cash and savings togetherLn 1–2$688K
Other assetsLn 15$31K
Total assetsLn 16$2.8M
LiabilitiesLn 26$2.4M
Net assetsLn 32$358K
OperationsPt I, VI
EmployeesI 51
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$655K$688K
Total assetsLn 16$2.8M$2.8M
LiabilitiesLn 26$2.5M$2.4M
Net assetsLn 32$328K$358K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$27K$27K
Payroll taxesLn 10$2K$2K
Accounting feesLn 11c$350$350
Office expensesLn 13$3K$3K
Information technologyLn 14$8K$8K
OccupancyLn 16$450$450
Conferences, conventions and meetingsLn 19$212$212
InterestLn 20$53K$53K
InsuranceLn 23$3K$3K
Other expenses (24a–d)Ln 24$7K$7K
All other expensesLn 24e$208$208
Total functional expensesLn 25$104K$104K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $134K$104K$30K$358K 990 PDF
FY2024 $128K$98K$30K$328K 990 PDF
FY2023 $109K$91K$18K$298K 990 PDF
FY2022 $80K$70K$11K$280K 990 PDF
FY2021 $70K$65K$6K$270K 990 PDF
FY2020 $67K$64K$3K$264K 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 FY2025 990 (6 parts)
Part I · Summary $133,850 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenue$0
I-10 Investment incomePrior year $120,925$133,736
I-11 Other revenuePrior year $7,439$114
I-12 Total revenuePrior year $128,364$133,850
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $25,656$29,066
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $72,592$75,235
I-18 Total expensesPrior year $98,248$104,301
I-19 Revenue less expensesPrior year $30,116$29,549
Part VI · Governance 9 of 9 board members independent, 2 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
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 $133,850 across 3 lines filed
VIII-3 Investment incomeRelated to mission $133,736$133,736
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $114$114
VIII-12 Total revenueRelated to mission $133,850$133,850
Part IX · Statement of functional expenses $104,301 across 11 lines filed
IX-7 Other salaries and wagesPrograms $27,000$27,000
IX-10 Payroll taxesPrograms $2,066$2,066
IX-11c Accounting feesPrograms $350$350
IX-13 Office expensesPrograms $3,144$3,144
IX-14 Information technologyPrograms $7,673$7,673
IX-16 OccupancyPrograms $450$450
IX-19 Conferences, conventions and meetingsPrograms $212$212
IX-20 InterestPrograms $52,584$52,584
IX-23 InsurancePrograms $3,498$3,498
IX-24 Other expenses (24a–d)Programs $7,116$7,116
IX-24e All other expensesPrograms $208$208
IX-25 Total functional expensesPrograms $104,301 · Management $0 · Fundraising $0$104,301
Part X · Balance sheet $2,792,731 assets, 9 lines filed
Asset lines not itemized here account for $2,074,359; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $137,564$196,558
X-2 Savings and temporary cash investmentsStart of year $517,367$490,972
X-15 Other assetsStart of year $31,048$30,842
X-16 Total assetsStart of year $2,820,788$2,792,731
X-17 Accounts payable and accrued expensesStart of year $30,391$329
X-25 Other liabilitiesStart of year $2,462,084$2,434,540
X-26 Total liabilitiesStart of year $2,492,475$2,434,869
X-32 Total net assets or fund balancesStart of year $328,313$357,862
X-33 Total liabilities and net assetsStart of year $2,820,788$2,792,731
Part XI · Reconciliation of net assets $357,862 net assets at year end
XI-1 Total revenue$133,850
XI-2 Total expenses$104,301
XI-3 Revenue less expenses$29,549
XI-4 Net assets at start of year$328,313
XI-10 Net assets at end of year$357,862

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

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