philanthropy.org | 990 Resource | FAQ Verify yourself
Sign in

Cent Credit Union FY2021 filing

Mason City, IAUnknown exempt organizationSince 1965EIN 42-0923713Revenue $3.5M in FY2021

On file with the IRScentcu.org25 W State Street · Mason City, IA

This page gets seen. Tell your story. Claim this org.

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

$170K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Pay: Part VII

Before you give

FY2021 · 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 $858K a year · 14% 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
$170K
to officers and key staff · 6% of spending
Looks good: pay to officers and key staff is 6% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
48 mo
of spending, in cash
Looks good: 48.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$63.3M
88% of total assets
Concern: liabilities are 88% of assets; over 80%.
Pt X · Ln 26
Independent board members
13
of 13 voting members
Looks good: 13 of 13 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$3.5M
+3% vs prior year
Spent
$3.0M
To programs
0%
Net assets
$8.3M
By yearFY2020–FY2025
Revenue
$3.5M
FY2021▲ +3%
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
FY2021▼ -0.7%
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
$8.3M
FY2021▲ +6%
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 FY2021 Form 990 · see the original

Give Claim
You’re viewing the FY2021 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

13 people listed on the 990; $170K paid to officers and key staff.

Part VII, Section A · reportable compensation
$170,400Pt 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 →

Are you one of these people? Claim this org to confirm your role

Something off? The org can add a note here. Request edit privileges.

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.

Provided by the organization

Know this organization? Claim it to add your story

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$3.5M
Ln 12
Fees for servicesLn 2g$3.5M
Investment incomeLn 3$15K
Money outPt IX
$3.0M
Ln 25
Owns and owesPt X
$8.3M
net assets · Ln 32
Cash and savingsLn 1–2$12.0M
Total assetsLn 16$71.7M
LiabilitiesLn 26$63.3M
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$3.5M
Investment incomeLn 3$15K
Total revenueLn 12$3.5M
Assets in detailPt X, end of year
CashLn 1$866K
SavingsLn 2$11.2M
Cash and savings togetherLn 1–2$12.0M
Land, buildings, equipmentLn 10c$2.2M
Other assetsLn 15$692K
Total assetsLn 16$71.7M
LiabilitiesLn 26$63.3M
Net assetsLn 32$8.3M
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 FY21End FY21
Cash and savingsLn 1–2$9.8M$12.0M
Land, buildings, equipmentLn 10c$2.4M$2.2M
Total assetsLn 16$65.3M$71.7M
LiabilitiesLn 26$57.4M$63.3M
Net assetsLn 32$7.8M$8.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$175K
Other salaries and wagesLn 7$760K
Pension plan contributionsLn 8$22K
Other employee benefitsLn 9$99K
Payroll taxesLn 10$73K
Legal feesLn 11b$250
Accounting feesLn 11c$32K
Advertising and promotionLn 12$105K
Office expensesLn 13$204K
OccupancyLn 16$190K
Conferences, conventions and meetingsLn 19$38K
Depreciation, depletion and amortizationLn 22$169K
InsuranceLn 23$30K
Other expenses (24a–d)Ln 24$897K
All other expensesLn 24e$184K
Total functional expensesLn 25$3.0M$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $10.0M$8.8M$1.1M$20.4M 990 PDF
FY2024 $9.1M$7.9M$1.2M$19.3M 990 PDF
FY2023 $7.6M$6.3M$1.3M$18.0M 990 PDF
FY2022 $3.7M$3.2M$574K$8.9M 990 PDF
FY2021 Viewing $3.5M$3.0M$505K$8.3M 990 PDF
FY2020 $3.4M$3.0M$396K$7.8M 990 PDF

Want to add your own materials alongside these filings? Claim this org

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 FY2021 990 (6 parts)
Part I · Summary $3,482,866 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $3,350,523$3,467,752
I-10 Investment incomePrior year $44,262$15,114
I-11 Other revenue$0
I-12 Total revenuePrior year $3,394,785$3,482,866
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $1,029,613$1,128,652
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $1,969,281$1,848,796
I-18 Total expensesPrior year $2,998,894$2,977,448
I-19 Revenue less expensesPrior year $395,891$505,418
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 $3,482,866 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Excluded from tax $3,467,752$3,467,752
VIII-3 Investment incomeExcluded from tax $15,114$15,114
VIII-12 Total revenueExcluded from tax $3,482,866$3,482,866
Part IX · Statement of functional expenses $2,977,448 across 15 lines filed
IX-5 Pay of current officers, directors and key staff$174,551
IX-7 Other salaries and wages$760,291
IX-8 Pension plan contributions$21,730
IX-9 Other employee benefits$99,391
IX-10 Payroll taxes$72,689
IX-11b Legal fees$250
IX-11c Accounting fees$31,800
IX-12 Advertising and promotion$105,374
IX-13 Office expenses$203,775
IX-16 Occupancy$189,914
IX-19 Conferences, conventions and meetings$38,417
IX-22 Depreciation, depletion and amortization$169,034
IX-23 Insurance$29,724
IX-24 Other expenses (24a–d)$896,654
IX-24e All other expenses$183,854
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$2,977,448
Part X · Balance sheet $71,687,831 assets, 12 lines filed
Asset lines not itemized here account for $56,576,092; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $912,112$866,286
X-2 Savings and temporary cash investmentsStart of year $8,857,785$11,155,253
X-4 Accounts receivableStart of year $990$4,203
X-9 Prepaid expenses and deferred chargesStart of year $109,537$237,324
X-10c Land, buildings and equipment, netStart of year $2,381,238$2,156,849
X-15 Other assetsStart of year $631,179$691,824
X-16 Total assetsStart of year $65,253,827$71,687,831
X-17 Accounts payable and accrued expensesStart of year $332,357$148,705
X-25 Other liabilitiesStart of year $57,079,541$63,191,779
X-26 Total liabilitiesStart of year $57,411,898$63,340,484
X-32 Total net assets or fund balancesStart of year $7,841,929$8,347,347
X-33 Total liabilities and net assetsStart of year $65,253,827$71,687,831
Part XI · Reconciliation of net assets $8,347,347 net assets at year end
XI-1 Total revenue$3,482,866
XI-2 Total expenses$2,977,448
XI-3 Revenue less expenses$505,418
XI-4 Net assets at start of year$7,841,929
XI-10 Net assets at end of year$8,347,347

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

Similar organizations you could support · Compare with another nonprofit

Names, privacy, and removal requests More

The names, titles, and compensation shown on this page are reproduced from IRS Form 990 filings, which are public records.

Philanthropy.org does not alter the content of those filings. All information appears exactly as reported by the filing organization for the tax year shown.

We publish only information contained in the public IRS filing — and less than the filing contains. Our profile pages do not display street addresses, telephone numbers, personal email addresses, or other personal contact information, even where the filing includes them.

Many people share the same name. A name shown on this page reflects only what one organization reported in one IRS filing for one tax year. It should not be interpreted as identifying any other individual with the same or a similar name.

If you are no longer affiliated with the organization, your name will generally stop appearing in future IRS filings once the organization no longer reports you. Pages for tax years in which you were reported remain published because those filings remain part of the public record.

Philanthropy.org does not alter or remove IRS filing records. Removing a page from this website would not remove the underlying IRS filing, which remains publicly available from the IRS and other publishers of the same information.

If you believe the IRS filing itself is inaccurate, corrections must be made by the filing organization or the IRS directly.

If you ARE the filing organization, claim this org and add context

Made it to the end? Claim this organization

Keep this kind of thing free
Keep public charity data easy to read.

Free to the public, because obviously. Like this? Pay it forward. Don't like this? Help us get better.

Card, Apple Pay or Google Pay through Stripe. One time.
Keep this kind of thing free
Keep public charity data easy to read.

Free to the public, because obviously. Like this? Pay it forward. Don't like this? Help us get better.

Card, Apple Pay or Google Pay through Stripe. One time.

All figures are derived from public IRS Form 990 filings and are presented without evaluation of any organization. philanthropy.org does not rate, score, or rank organizations, including the pay comparisons above.