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Cedar Falls Community Credit Union FY2023 filing

Cedar Falls, IAUnknown exempt organizationSince 1958EIN 42-0817536Revenue $10.4M in FY2023

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

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State chartered Credit Union

$146K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Pay: Part VII

Before you give

FY2023 · 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
$146K
to officers and key staff · 2% of spending
Looks good: pay to officers and key staff is 2% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
57 mo
of spending, in cash
Looks good: 56.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$161.2M
84% of total assets
Concern: liabilities are 84% 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
$10.4M
+30% vs prior year
Spent
$7.5M
To programs
0%
Net assets
$30.9M
By yearFY2020–FY2025
Revenue
$10.4M
FY2023▲ +30%
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
$7.5M
FY2023▲ +30%
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
$30.9M
FY2023▲ +12%
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 FY2023 Form 990 · see the original

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You’re viewing the FY2023 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; $146K paid to officers and key staff.

Part VII, Section A · reportable compensation
Chad Kaeppel
President/Ce
$146,300Pt VII · Sec A
Scott Abels
Board Member
$0Pt VII · Sec A
Larry Bockes
Board Member
$0Pt VII · Sec A
Sheila Kittleson
Board Member
$0Pt VII · Sec A
Frank Miller
Board Member
$0Pt VII · Sec A
Dan Mills
Board Member
$0Pt VII · Sec A
Ma Reifsteck
Board Member
$0Pt VII · Sec A
Becky Riehm
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.

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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.

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By the numbers

The FY2023 990, line by line.

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from philanthropy.org
1The main four
Money inPt VIII
$10.4M
Ln 12
Fees for servicesLn 2g$9.0M
Investment incomeLn 3$1.4M
Money outPt IX
$7.5M
Ln 25
Owns and owesPt X
$30.9M
net assets · Ln 32
Cash and savingsLn 1–2$35.5M
Total assetsLn 16$192.1M
LiabilitiesLn 26$161.2M
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$9.0M
Investment incomeLn 3$1.4M
Total revenueLn 12$10.4M
Assets in detailPt X, end of year
CashLn 1$1.7M
SavingsLn 2$33.8M
Cash and savings togetherLn 1–2$35.5M
Land, buildings, equipmentLn 10c$3.2M
Other assetsLn 15$7.6M
Total assetsLn 16$192.1M
LiabilitiesLn 26$161.2M
Net assetsLn 32$30.9M
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 FY23End FY23
Cash and savingsLn 1–2$30.0M$35.5M
Land, buildings, equipmentLn 10c$2.5M$3.2M
Total assetsLn 16$180.4M$192.1M
LiabilitiesLn 26$152.9M$161.2M
Net assetsLn 32$27.5M$30.9M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$1.7M
Pension plan contributionsLn 8$120K
Other employee benefitsLn 9$217K
Payroll taxesLn 10$127K
Accounting feesLn 11c$58K
Advertising and promotionLn 12$152K
Office expensesLn 13$222K
OccupancyLn 16$194K
Conferences, conventions and meetingsLn 19$17K
Depreciation, depletion and amortizationLn 22$184K
InsuranceLn 23$45K
Other expenses (24a–d)Ln 24$4.1M
All other expensesLn 24e$394K
Total functional expensesLn 25$7.5M$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 Viewing $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 $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 FY2023 990 (6 parts)
Part I · Summary $10,430,628 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $7,338,922$9,029,937
I-10 Investment incomePrior year $655,579$1,400,691
I-11 Other revenue$0
I-12 Total revenuePrior year $7,994,501$10,430,628
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $1,975,663$2,129,582
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $3,795,365$5,361,813
I-18 Total expensesPrior year $5,771,028$7,491,395
I-19 Revenue less expensesPrior year $2,223,473$2,939,233
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 $10,430,628 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Excluded from tax $9,029,937$9,029,937
VIII-3 Investment incomeExcluded from tax $1,400,691$1,400,691
VIII-12 Total revenueExcluded from tax $10,430,628$10,430,628
Part IX · Statement of functional expenses $7,491,395 across 13 lines filed
IX-7 Other salaries and wages$1,665,405
IX-8 Pension plan contributions$120,465
IX-9 Other employee benefits$216,812
IX-10 Payroll taxes$126,900
IX-11c Accounting fees$58,215
IX-12 Advertising and promotion$151,709
IX-13 Office expenses$221,722
IX-16 Occupancy$193,962
IX-19 Conferences, conventions and meetings$16,846
IX-22 Depreciation, depletion and amortization$183,964
IX-23 Insurance$45,136
IX-24 Other expenses (24a–d)$4,096,096
IX-24e All other expenses$394,163
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$7,491,395
Part X · Balance sheet $192,111,265 assets, 12 lines filed
Asset lines not itemized here account for $145,673,457; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $1,763,106$1,691,492
X-2 Savings and temporary cash investmentsStart of year $28,230,436$33,824,119
X-4 Accounts receivableStart of year $19,006$1,326
X-9 Prepaid expenses and deferred chargesStart of year $138,912$123,720
X-10c Land, buildings and equipment, netStart of year $2,547,788$3,244,935
X-15 Other assetsStart of year $7,237,530$7,552,216
X-16 Total assetsStart of year $180,405,285$192,111,265
X-17 Accounts payable and accrued expensesStart of year $1,715,367$1,859,516
X-25 Other liabilitiesStart of year $151,159,797$159,381,366
X-26 Total liabilitiesStart of year $152,875,164$161,240,882
X-32 Total net assets or fund balancesStart of year $27,530,121$30,870,383
X-33 Total liabilities and net assetsStart of year $180,405,285$192,111,265
Part XI · Reconciliation of net assets $30,870,383 net assets at year end
XI-1 Total revenue$10,430,628
XI-2 Total expenses$7,491,395
XI-3 Revenue less expenses$2,939,233
XI-4 Net assets at start of year$27,530,121
XI-9 Other changes in net assets$401,029
XI-10 Net assets at end of year$30,870,383

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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