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Aegis Credit Union

Not tax-deductible

Clinton, IAMutual-benefit / member-servingPublic & Societal BenefitEIN 42-1139901Revenue $2.0M in FY2025

On file with the IRSaegiscu.com1200 N 2nd St, 52732-5246 · Clinton, IATax-exempt since Sep 2021

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Credit unions create a source of Credit af 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 is order to improve their economic and social condition.

100¢ of each $1 spent went to programs.
Run by 9 volunteers and 9 employees.
Mission: Form 990 Part I, line 1 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2025 · Form 990Independent: from IRS data, not the org
Download 990
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
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
2 of 2
filings with a surplus
Average surplus $489K a year · 25% of revenue · last 2 filings
Looks good: a surplus in 2 of the last 2 filings.
Pt I · Ln 19 · 2 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
2 mo
of spending, in cash
Fine: 2.5 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$21.7M
83% of total assets
Concern: liabilities are 83% of assets; over 80%.
Pt X · Ln 26
Independent board members
10
of 10 voting members
Looks good: 10 of 10 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.0M
+7% vs prior year
Spent
$1.5M
To programs
100%
Net assets
$4.5M
By yearFY2024–FY2025
Revenue
$2.0M
FY2025▲ +7%
Tap a bar for its year
Revenue by fiscal year
FY2024$1.9M
FY2025$2.0M
Expenses
$1.5M
FY2025▲ +3%
Tap a bar for its year
Expenses by fiscal year
FY2024$1.4M
FY2025$1.5M
Net assets
$4.5M
FY2025▲ +15%
Tap a bar for its year
Net assets by fiscal year
FY2024$3.9M
FY2025$4.5M

From the FY2025 Form 990 · see the original

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Is it real?

Yes. Revoked May 2015, reinstated. IRS ruling Sep 2021, per the IRS master file. Latest filing on record: FY2025. IRS ruling in Sep 2021.

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% · $1.5M

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

10 people listed on the 990.

Part VII, Section A · reportable compensation
Joy Drury
Director
$0Pt VII · Sec A
Katie Flood
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Ryan Knight
Vice Chair
$0Pt VII · Sec A
Kim Matje
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Aegis 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
  • Loans to or from officersSch L · Pt II6 listed

Programs and updates

Provides members fair credit, encourages saving, and empowers democratic control of money for economic improvement.

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Provided by the organization

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1 program · $1.5M · in their own filed words · FY2025
01

Credits 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 condtion.

$1.5Mprogram expense

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$2.0M
Ln 12
Fees for servicesLn 2g$1.2M
Other incomeLn 4–11$412K
Investment incomeLn 3$365K
Money outPt IX
$1.5M
Ln 25
Programscol B$1.5M
Owns and owesPt X
$4.5M
net assets · Ln 32
Cash and savingsLn 1–2$302K
Total assetsLn 16$26.2M
LiabilitiesLn 26$21.7M
PeoplePt VI, VII
10
listed · VII A
PaidVII A0
Voting boardVI 1a10
IndependentVI 1b10
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$1.2M
Investment incomeLn 3$365K
Other incomeLn 4–11$412K
Total revenueLn 12$2.0M
Assets in detailPt X, end of year
CashLn 1$302K
Cash and savings togetherLn 1–2$302K
Land, buildings, equipmentLn 10c$392K
Other assetsLn 15$8.2M
Total assetsLn 16$26.2M
LiabilitiesLn 26$21.7M
Net assetsLn 32$4.5M
OperationsPt I, VI
EmployeesI 59
VolunteersI 69
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$226K$302K
Land, buildings, equipmentLn 10c$430K$392K
Total assetsLn 16$26.1M$26.2M
LiabilitiesLn 26$22.2M$21.7M
Net assetsLn 32$3.9M$4.5M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$526K$526K
Pension plan contributionsLn 8$32K$32K
Other employee benefitsLn 9$1K$1K
Payroll taxesLn 10$43K$43K
Legal feesLn 11b$276$276
Accounting feesLn 11c$67K$67K
Other fees for servicesLn 11g$10K$10K
Advertising and promotionLn 12$66K$66K
Office expensesLn 13$362K$362K
OccupancyLn 16$16K$16K
InterestLn 20$253K$253K
Depreciation, depletion and amortizationLn 22$58K$58K
Other expenses (24a–d)Ln 24$28K$28K
All other expensesLn 24e$409$409
Total functional expensesLn 25$1.5M$1.5M$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $2.0M$1.5M$529K$4.5M 990 PDF
FY2024 $1.9M$1.4M$450K$3.9M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2025 990 (6 parts)
Part I · Summary $1,990,579 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $1,135,786$1,213,388
I-10 Investment incomePrior year $330,003$364,736
I-11 Other revenuePrior year $401,959$412,455
I-12 Total revenuePrior year $1,867,748$1,990,579
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $561,332$601,591
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $856,661$860,236
I-18 Total expensesPrior year $1,417,993$1,461,827
I-19 Revenue less expensesPrior year $449,755$528,752
Part VI · Governance 10 of 10 board members independent, 3 to look at
VI-1a Voting members of the governing body10
VI-1b Independent voting members10
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $1,990,579 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,213,388$1,213,388
VIII-3 Investment incomeRelated to mission $364,736$364,736
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $412,455$412,455
VIII-12 Total revenueRelated to mission $1,990,579$1,990,579
Part IX · Statement of functional expenses $1,461,827 across 14 lines filed
IX-7 Other salaries and wagesPrograms $526,441$526,441
IX-8 Pension plan contributionsPrograms $31,506$31,506
IX-9 Other employee benefitsPrograms $1,040$1,040
IX-10 Payroll taxesPrograms $42,604$42,604
IX-11b Legal feesPrograms $276$276
IX-11c Accounting feesPrograms $67,303$67,303
IX-11g Other fees for servicesPrograms $9,534$9,534
IX-12 Advertising and promotionPrograms $66,069$66,069
IX-13 Office expensesPrograms $361,704$361,704
IX-16 OccupancyPrograms $15,563$15,563
IX-20 InterestPrograms $253,338$253,338
IX-22 Depreciation, depletion and amortizationPrograms $57,898$57,898
IX-24 Other expenses (24a–d)Programs $28,142$28,142
IX-24e All other expensesPrograms $409$409
IX-25 Total functional expensesPrograms $1,461,827 · Management $0 · Fundraising $0$1,461,827
Part X · Balance sheet $26,211,251 assets, 11 lines filed
Asset lines not itemized here account for $17,015,739; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $225,519$301,767
X-4 Accounts receivableStart of year $317,883$308,628
X-9 Prepaid expenses and deferred chargesStart of year $20,472$6,116
X-10c Land, buildings and equipment, netStart of year $429,702$391,510
X-15 Other assetsStart of year $8,827,714$8,187,491
X-16 Total assetsStart of year $26,081,815$26,211,251
X-17 Accounts payable and accrued expensesStart of year $150,037$129,320
X-25 Other liabilitiesStart of year $21,544,023$21,610,698
X-26 Total liabilitiesStart of year $22,194,060$21,740,018
X-32 Total net assets or fund balancesStart of year $3,887,755$4,471,233
X-33 Total liabilities and net assetsStart of year $26,081,815$26,211,251
Part XI · Reconciliation of net assets $4,471,233 net assets at year end
XI-1 Total revenue$1,990,579
XI-2 Total expenses$1,461,827
XI-3 Revenue less expenses$528,752
XI-4 Net assets at start of year$3,887,755
XI-9 Other changes in net assets$54,726
XI-10 Net assets at end of year$4,471,233

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

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