Cedar Falls Community Credit Union FY2020 filing

Cedar Falls, IAUnknown exempt organizationSince 1958EIN 42-0817536Revenue $6.5M in FY2020

On file with the IRScfccu.org123 W 4th Street · Cedar Falls, IA

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State chartered Credit Union

$163K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Pay: Part VII

Before you give

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 $2.5M a year · 26% 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
$163K
to officers and key staff · 3% of spending
Looks good: pay to officers and key staff is 3% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
84 mo
of spending, in cash
Looks good: 83.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$126.5M
85% of total assets
Concern: liabilities are 85% of assets; over 80%.
Pt X · Ln 26
Independent board members
11
of 11 voting members
Looks good: 11 of 11 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$6.5M
Spent
$5.1M
To programs
0%
Net assets
$21.7M
By yearFY2020–FY2025
Revenue
$6.5M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$6.5M
FY2021$6.8M
FY2022$8.0M
FY2023$10.4M
FY2024$12.6M
FY2025$14.5M
Expenses
$5.1M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$5.1M
FY2021$5.0M
FY2022$5.8M
FY2023$7.5M
FY2024$9.3M
FY2025$11.0M
Net assets
$21.7M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$21.7M
FY2021$25.4M
FY2022$27.5M
FY2023$30.9M
FY2024$34.5M
FY2025$38.3M

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; $163K paid to officers and key staff.

Part VII, Section A · reportable compensation
President/Ce
$163,470Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

Compensation history total reportable pay by year · 4 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Chad Kaeppel$199,310$162,314$146,300$132,000$120,000—
Helen Pearce—————$163,470
Alyssa Aikey$122,817—————
Emily Creighton$105,374—————

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 Cedar Falls 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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Cedar Falls Community Credit Union is a nonprofit organization based in Cedar Falls, IA, formed in 1958.

Provided by the organization

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By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$6.5M
Ln 12
Fees for servicesLn 2g$6.2M
Investment incomeLn 3$306K
Money outPt IX
$5.1M
Ln 25
Owns and owesPt X
$21.7M
net assets · Ln 32
Cash and savingsLn 1–2$35.3M
Total assetsLn 16$148.2M
LiabilitiesLn 26$126.5M
PeoplePt VI, VII
12
listed · VII A
PaidVII A1
Voting boardVI 1a11
IndependentVI 1b11
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$6.2M
Investment incomeLn 3$306K
Total revenueLn 12$6.5M
Assets in detailPt X, end of year
CashLn 1$1.5M
SavingsLn 2$33.9M
Cash and savings togetherLn 1–2$35.3M
Land, buildings, equipmentLn 10c$847K
Other assetsLn 15$3.0M
Total assetsLn 16$148.2M
LiabilitiesLn 26$126.5M
Net assetsLn 32$21.7M
OperationsPt I, VI
EmployeesI 528
VolunteersI 614
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
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$22.7M$35.3M
Land, buildings, equipmentLn 10c$822K$847K
Total assetsLn 16$127.1M$148.2M
LiabilitiesLn 26$106.6M$126.5M
Net assetsLn 32$20.5M$21.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$163K
Other salaries and wagesLn 7$854K
Pension plan contributionsLn 8$87K
Other employee benefitsLn 9$147K
Payroll taxesLn 10$79K
Accounting feesLn 11c$24K
Advertising and promotionLn 12$167K
Office expensesLn 13$149K
OccupancyLn 16$182K
Conferences, conventions and meetingsLn 19$11K
Depreciation, depletion and amortizationLn 22$93K
InsuranceLn 23$31K
Other expenses (24a–d)Ln 24$2.7M
All other expensesLn 24e$338K
Total functional expensesLn 25$5.1M$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $14.5M$11.0M$3.5M$38.3M 990 PDF
FY2024 $12.6M$9.3M$3.3M$34.5M 990 PDF
FY2023 $10.4M$7.5M$2.9M$30.9M 990 PDF
FY2022 $8.0M$5.8M$2.2M$27.5M 990 PDF
FY2021 $6.8M$5.0M$1.8M$25.4M 990 PDF
FY2020 Viewing $6.5M$5.1M$1.4M$21.7M 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 FY2020 990 (6 parts)
Part I · Summary $6,472,533 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $5,739,581$6,166,616
I-10 Investment incomePrior year $439,944$305,917
I-11 Other revenue$0
I-12 Total revenuePrior year $6,179,525$6,472,533
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $1,228,993$1,331,067
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $3,335,735$3,721,521
I-18 Total expensesPrior year $4,564,728$5,052,588
I-19 Revenue less expensesPrior year $1,614,797$1,419,945
Part VI · Governance 11 of 11 board members independent, 1 to look at
VI-1a Voting members of the governing body11
VI-1b Independent voting members11
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $6,472,533 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Excluded from tax $6,166,616$6,166,616
VIII-3 Investment incomeExcluded from tax $305,917$305,917
VIII-12 Total revenueExcluded from tax $6,472,533$6,472,533
Part IX · Statement of functional expenses $5,052,588 across 14 lines filed
IX-5 Pay of current officers, directors and key staff$163,470
IX-7 Other salaries and wages$854,308
IX-8 Pension plan contributions$87,019
IX-9 Other employee benefits$147,221
IX-10 Payroll taxes$79,049
IX-11c Accounting fees$24,000
IX-12 Advertising and promotion$166,982
IX-13 Office expenses$148,552
IX-16 Occupancy$181,822
IX-19 Conferences, conventions and meetings$11,055
IX-22 Depreciation, depletion and amortization$92,749
IX-23 Insurance$30,801
IX-24 Other expenses (24a–d)$2,727,644
IX-24e All other expenses$337,916
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$5,052,588
Part X · Balance sheet $148,176,863 assets, 12 lines filed
Asset lines not itemized here account for $108,943,202; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $1,277,378$1,467,104
X-2 Savings and temporary cash investmentsStart of year $21,449,728$33,855,160
X-4 Accounts receivableStart of year $9,609$4,164
X-9 Prepaid expenses and deferred chargesStart of year $101,080$92,395
X-10c Land, buildings and equipment, netStart of year $822,398$847,162
X-15 Other assetsStart of year $2,819,177$2,967,676
X-16 Total assetsStart of year $127,129,359$148,176,863
X-17 Accounts payable and accrued expensesStart of year $907,455$1,065,178
X-25 Other liabilitiesStart of year $105,722,779$125,391,831
X-26 Total liabilitiesStart of year $106,630,234$126,457,009
X-32 Total net assets or fund balancesStart of year $20,499,125$21,719,854
X-33 Total liabilities and net assetsStart of year $127,129,359$148,176,863
Part XI · Reconciliation of net assets $21,719,854 net assets at year end
XI-1 Total revenue$6,472,533
XI-2 Total expenses$5,052,588
XI-3 Revenue less expenses$1,419,945
XI-4 Net assets at start of year$20,499,125
XI-9 Other changes in net assets−$199,216
XI-10 Net assets at end of year$21,719,854

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

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