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Cent Credit Union FY2020 filing

Mason City, IAUnknown exempt organizationSince 1965 EIN 42-0923713Revenue $3.4M in FY2020Latest return filed Apr 27, 2026

On file with the IRScentcu.orgMason City, IA

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Cent Credit Union operates for the primary purpose of promoting thrift, providing Credit at reasonable rates and providing other financial services to its members.

Form 990 Part I, line 1, FY2020. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 42-0923713) · Dispute this line
$153K 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
The latest return is for FY2025, 1 tax year back.
IRS e-file · Filing history
Surplus or deficit
6 of 6
filings with a surplus
Average surplus $858K a year · 14% of revenue · last 6 filings
A surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
0%
of spending
0% of spending went to programs.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$153K
to officers and key staff · 5% of spending
Pay to officers and key staff is 5% of spending.
Part VII, Section A
Cash reserves
39.1 mo
of spending, in cash
39.1 months of spending in cash.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$57.4M
88% of total assets
Liabilities are 88% of assets.
Pt X · Ln 26
Independent board members
13
of 13 voting members
13 of 13 voting members are independent.
Pt VI · Ln 1a–1b
In line with peersDifferent from peersFar from peersNo peer rangeNo data yetTap a box for the reason.
Revenue
$3.4M
Spent
$3.0M
To programs
0%
Net assets
$7.8M
By yearFY2020–FY2025
Revenue
$3.4M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$3.4M
FY2021$3.5M
FY2022$3.7M
FY2023$7.6M
FY2024$9.1M
FY2025$10.0M
Expenses
$3.0M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$3.0M
FY2021$3.0M
FY2022$3.2M
FY2023$6.3M
FY2024$7.9M
FY2025$8.8M
Net assets
$7.8M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$7.8M
FY2021$8.3M
FY2022$8.9M
FY2023$18.0M
FY2024$19.3M
FY2025$20.4M

From the FY2020 Form 990 · see the original

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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

13 people listed on the 990; $153K paid to officers and key staff (Part VII, Section A).

Part VII, Section A · reportable compensation
$153,389Pt VII · Sec A
William Basler
Board Member
$0Pt VII · Sec A
Ron Guthrie
Board Member
$0Pt VII · Sec A
Mark Heiny
Board Member
$0Pt VII · Sec A
Dave Hickman
Board Member
$0Pt VII · Sec A
Dan Van Horn
Board Member
$0Pt VII · Sec A
Jarrod Jaspersen
Board Member
$0Pt VII · Sec A
Greg Lee
Board Member
$0Pt VII · Sec A

Compensation history total reportable pay by year · 3 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Matthew Chizek$325,000$248,496$265,435$215,040$170,400$153,389
Traci Muhlenbruch$181,400$167,414————
Ryan Francis$145,200$146,195————

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 Cent Credit Union executive salaries →

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 15aNo

Programs and updates

Promotes thrift, offers affordable credit, and provides financial services to members.

Questions for Cent Credit Union

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Your first name shows with your question. Cent Credit Union answers here, for everyone.

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$3.4M
Ln 12
Fees for servicesLn 2g$3.4M
Investment incomeLn 3$44K
Money outPt IX
$3.0M
Ln 25
Owns and owesPt X
$7.8M
net assets · Ln 32
Cash and savingsLn 1–2$9.8M
Total assetsLn 16$65.3M
LiabilitiesLn 26$57.4M
PeoplePt VI, VII
13
listed · VII A
PaidVII A1
Voting boardVI 1a13
IndependentVI 1b13
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$3.4M
Investment incomeLn 3$44K
Total revenueLn 12$3.4M
Assets in detailPt X, end of year
CashLn 1$912K
SavingsLn 2$8.9M
Cash and savings togetherLn 1–2$9.8M
Accounts receivableLn 4$990
Notes and loans receivableLn 7$52.4M
Prepaid expenses and deferred chargesLn 9$110K
Land, buildings, equipmentLn 10c$2.4M
Other assetsLn 15$631K
Total assetsLn 16$65.3M
LiabilitiesLn 26$57.4M
Net assetsLn 32$7.8M
OperationsPt I, VI
EmployeesI 542
VolunteersI 66
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$5.8M$9.8M
Land, buildings, equipmentLn 10c$2.4M$2.4M
Total assetsLn 16$56.7M$65.3M
LiabilitiesLn 26$49.2M$57.4M
Net assetsLn 32$7.4M$7.8M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of officers and key staff (Part IX, line 5)Ln 5$161K
Other salaries and wagesLn 7$692K
Pension plan contributionsLn 8$21K
Other employee benefitsLn 9$82K
Payroll taxesLn 10$74K
Accounting feesLn 11c$32K
Advertising and promotionLn 12$91K
Office expensesLn 13$203K
OccupancyLn 16$229K
Conferences, conventions and meetingsLn 19$41K
Depreciation, depletion and amortizationLn 22$154K
InsuranceLn 23$29K
Other expenses (24a–d)Ln 24$1.1M
All other expensesLn 24e$126K
Total functional expensesLn 25$3.0M$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 LatestFiled with the IRS Apr 27, 2026 $10.0M$8.8M$1.1M$20.4M 990 PDF
FY2024Filed with the IRS Apr 25, 2025 $9.1M$7.9M$1.2M$19.3M 990 PDF
FY2023Filed with the IRS May 13, 2024 $7.6M$6.3M$1.3M$18.0M 990 PDF
FY2022Filed with the IRS Apr 27, 2023 $3.7M$3.2M$574K$8.9M 990 PDF
FY2021Filed with the IRS Apr 25, 2022 $3.5M$3.0M$505K$8.3M 990 PDF
FY2020 ViewingFiled with the IRS Nov 12, 2021 $3.4M$3.0M$396K$7.8M 990 PDF

Schedules filed Part IV

I · Grants J · Pay O · Explanations
See the full FY2020 990
Part I · Summary $3,394,785 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $3,024,450$3,350,523
I-10 Investment incomePrior year $100,582$44,262
I-11 Other revenue$0
I-12 Total revenuePrior year $3,125,032$3,394,785
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $1,079,681$1,029,613
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $1,901,958$1,969,281
I-18 Total expensesPrior year $2,981,639$2,998,894
I-19 Revenue less expensesPrior year $143,393$395,891
Part VI · Governance 13 of 13 board members independent, 3 to look at
VI-1a Voting members of the governing body13
VI-1b Independent voting members13
VI-2 Family or business relationship among officers or directorsYes
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
Part VIII · Statement of revenue $3,394,785 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Excluded from tax $3,350,523$3,350,523
VIII-3 Investment incomeExcluded from tax $44,262$44,262
VIII-12 Total revenueExcluded from tax $3,394,785$3,394,785
Part IX · Statement of functional expenses $2,998,894 across 14 lines filed
IX-5 Pay of officers and key staff (Part IX, line 5)$161,007
IX-7 Other salaries and wages$691,814
IX-8 Pension plan contributions$21,233
IX-9 Other employee benefits$82,002
IX-10 Payroll taxes$73,557
IX-11c Accounting fees$31,800
IX-12 Advertising and promotion$90,874
IX-13 Office expenses$203,161
IX-16 Occupancy$228,802
IX-19 Conferences, conventions and meetings$41,288
IX-22 Depreciation, depletion and amortization$153,945
IX-23 Insurance$29,020
IX-24 Other expenses (24a–d)$1,064,833
IX-24e All other expenses$125,558
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$2,998,894
Part X · Balance sheet $65,253,827 assets, 15 lines filed
X-1 Cash, non-interest-bearingStart of year $525,701$912,112
X-2 Savings and temporary cash investmentsStart of year $5,300,636$8,857,785
X-4 Accounts receivableStart of year $377$990
X-7 Notes and loans receivableStart of year $47,774,257$52,360,986
X-9 Prepaid expenses and deferred chargesStart of year $123,992$109,537
X-10c Land, buildings and equipment, netStart of year $2,436,091$2,381,238
X-15 Other assetsStart of year $532,641$631,179
X-16 Total assetsStart of year $56,693,695$65,253,827
X-17 Accounts payable and accrued expensesStart of year $358,874$332,357
X-25 Other liabilitiesStart of year $48,888,783$57,079,541
X-26 Total liabilitiesStart of year $49,247,657$57,411,898
X-30 Paid-in or capital surplusStart of year $2,275,175$2,257,175
X-31 Retained earnings or endowmentStart of year $5,170,863$5,584,754
X-32 Total net assets or fund balancesStart of year $7,446,038$7,841,929
X-33 Total liabilities and net assetsStart of year $56,693,695$65,253,827
Part XI · Reconciliation of net assets $7,841,929 net assets at year end
XI-1 Total revenue$3,394,785
XI-2 Total expenses$2,998,894
XI-3 Revenue less expenses$395,891
XI-4 Net assets at start of year$7,446,038
XI-10 Net assets at end of year$7,841,929

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

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