SOUTHPOINT FINANCIAL CREDIT UNION: Form 990, tax year 2024
View the entire original 990 at ProPublica ↗
- Organization
- SOUTHPOINT FINANCIAL CREDIT UNION (EIN 41-0518425)
- Tax period
- 2024-01-01 to 2024-12-31
- Filed
- 2025-11-17
- IRS object ID
- 202533219349314073
- Schema version
- 2024v5.2
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2025-11-17T13:55:29-06:00 | ReturnTs |
| Tax Period End | 2024-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 994260840 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | DOEREN MAYHEW | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 8785 SW 165TH AVENUE SUITE 303 | AddressLine1Txt |
| City | MIAMI | CityNm |
| State Abbreviation | FL | StateAbbreviationCd |
| ZIP | 33193 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2024-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 410518425 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SOUTHPOINT FINANCIAL CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | SOUT | BusinessNameControlTxt |
| Phone | 5077946712 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 924 MAIN STREET EAST | AddressLine1Txt |
| City | SLEEPY EYE | CityNm |
| State Abbreviation | MN | StateAbbreviationCd |
| ZIP | 56085 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | AL PETERSON | PersonNm |
| Person Title | CFO | PersonTitleTxt |
| Phone | 5072335602 | PhoneNum |
| Signature | 2025-11-17 | SignatureDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | 0 | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | AUBREY CLEGG | PreparerPersonNm |
| PTIN | P01076395 | PTIN |
| Phone | 3052328272 | PhoneNum |
| Preparation | 2025-11-17 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2024 | TaxYr |
| Build TS | 2025-03-06 01:10:19Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | JAY GOSTONCZIK | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 924 MAIN STREET EAST | AddressLine1Txt |
| City | SLEEPY EYE | CityNm |
| State Abbreviation | MN | StateAbbreviationCd |
| ZIP | 56085 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $30,792,021 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.SOUTHPOINTFINANCIAL.COM | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1936 | FormationYr |
| Legal Domicile State | MN | LegalDomicileStateCd |
| Activity Or Mission | SOUTHPOINT FINANCIAL CREDIT UNION EMPOWERS MEMBERS TO ACHIEVE THEIR GOALS AND DREAMS BY PROVIDING EXCEPTIONAL SERVICE AND GUIDANCE. | ActivityOrMissionDesc |
| Voting Members Governing Body | 9 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 9 | VotingMembersIndependentCnt |
| Total Employee | 148 | TotalEmployeeCnt |
| Total Volunteers | 11 | TotalVolunteersCnt |
| Total Gross UBI | $427,380 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $62,367 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $24,710,206 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $28,112,964 | CYProgramServiceRevenueAmt |
| PY Investment Income | $1,432,686 | PYInvestmentIncomeAmt |
| CY Investment Income | $2,575,927 | CYInvestmentIncomeAmt |
| PY Other Revenue | $0 | PYOtherRevenueAmt |
| CY Other Revenue | $0 | CYOtherRevenueAmt |
| PY Total Revenue | $26,142,892 | PYTotalRevenueAmt |
| CY Total Revenue | $30,688,891 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $31,866 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $9,742,811 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $6,117,475 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $8,644,575 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $8,376,187 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $0 | PYOtherExpensesAmt |
| CY Other Expenses | $10,551,817 | CYOtherExpensesAmt |
| PY Total Expenses | $14,493,662 | PYTotalExpensesAmt |
| CY Total Expenses | $28,971,069 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $11,649,230 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $1,717,822 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $524,051,905 | TotalAssetsBOYAmt |
| Total Assets EOY | $572,168,874 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $467,754,316 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $512,626,918 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $56,297,589 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $59,541,956 | NetAssetsOrFundBalancesEOYAmt |
| Mission | SOUTHPOINT FINANCIAL CREDIT UNION EMPOWERS MEMBERS TO ACHIEVE THEIR GOALS AND DREAMS BY PROVIDING EXCEPTIONAL SERVICE AND GUIDANCE. WE ASPIRE TO BECOME THE PRIMARY FINANCIAL INSTITUTION FOR MEMBERS, CONTRIBUTE TO THE WELL-BEING OF OUR COMMUNITIES AND MAINTAIN EARNINGS. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | PROVIDE 32,431 MEMBERS WITH REGULAR SAVINGS, SHARE DRAFTS, CERTIFICATES OF DEPOSIT, IRA, HEALTH SAVINGS AND MONEY MARKET ACCOUNTS WITH AGGREGATE DEPOSIT BALANCES THAT APPROXIMATED $482,671,000 AS OF DECEMBER 31, 2024. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | PROVIDE 16,335 LOANS INCLUDING MORTGAGES, BUSINESS, HOME EQUITY, CREDIT CARDS, SHARE SECURED, VEHICLE, AND LINE OF CREDIT LOANS WITH AGGREGATE LOAN BALANCES THAT APPROXIMATED $414,672,000 AS OF DECEMBER 31, 2024. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | 0 | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (1) | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | Yes (1) | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Loan Outstanding | Yes (1) | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | Yes (1) | DisregardedEntityInd |
| Related Entity | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | Yes (1) | RelatedOrganizationCtrlEntInd |
| Transaction With Control Ent | 0 | TransactionWithControlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 16839 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 148 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | Yes (1) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (1) | Form990TFiledInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 9 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 9 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (1) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (1) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (1) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | 0 | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ALAN PETERSON | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 5072335602 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 924 MAIN STREET E | AddressLine1Txt |
| City | SLEEPY EYE | CityNm |
| State Abbreviation | MN | StateAbbreviationCd |
| ZIP | 56085 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (19 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | OfficerOfficerInd | Key EmployeeKeyEmployeeInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|---|
| ADAM SEIFERT | ||||||||
| BOARD CHAIRPERSON | 4.00 | Yes (X) | $0 | $0 | $0 | |||
| MATT LUX | ||||||||
| BOARD VICE CHAIRPERSON | 4.00 | Yes (X) | $0 | $0 | $0 | |||
| CHARLIE GRAVELLE | ||||||||
| BOARD SECRETARY, TREASURER | 4.00 | Yes (X) | $0 | $0 | $0 | |||
| SCOTT SUPRENANT | ||||||||
| BOARD MEMBER | 4.00 | Yes (X) | $0 | $0 | $0 | |||
| BOB WEISS | ||||||||
| BOARD MEMBER | 4.00 | Yes (X) | $0 | $0 | $0 | |||
| TAMMY HELGET | ||||||||
| BOARD MEMBER | 4.00 | Yes (X) | $0 | $0 | $0 | |||
| MARK BRUGGEMAN | ||||||||
| BOARD MEMBER | 4.00 | Yes (X) | $0 | $0 | $0 | |||
| JERRY FORSTER | ||||||||
| BOARD MEMBER | 4.00 | Yes (X) | $0 | $0 | $0 | |||
| ASHOK GOYAL | ||||||||
| BOARD MEMBER | 4.00 | Yes (X) | $0 | $0 | $0 | |||
| JAY GOSTONCZIK | ||||||||
| CEO | 40.00 | $278,117 | $0 | $44,367 | Yes (X) | |||
| ALAN PETERSON | ||||||||
| CFO | 40.00 | $192,323 | $0 | $21,631 | Yes (X) | |||
| PATRICE GOHL | ||||||||
| COO | 40.00 | $183,909 | $0 | $10,868 | Yes (X) | |||
| TROY DIEDRICH | ||||||||
| EVP | 40.00 | $189,606 | $0 | $11,033 | Yes (X) | |||
| DAVID SCHOUTEN | ||||||||
| CIO | 40.00 | $174,573 | $0 | $33,252 | Yes (X) | |||
| ROBERT SCHMID | ||||||||
| CLO | 40.00 | $142,026 | $0 | $18,127 | Yes (X) | |||
| JOEL HEITNER | ||||||||
| DIRECTOR OF DEPOSITS AND MEMBER EXPERIENCE | 40.00 | $121,637 | $0 | $6,939 | Yes (X) | |||
| AMANDA COOK | ||||||||
| DIRECTOR OF OPERATIONS | 40.00 | $112,360 | $0 | $6,412 | Yes (X) | |||
| JEFFREY ANDERSON | ||||||||
| VP OF LENDING | 40.00 | $110,103 | $0 | $20,606 | Yes (X) | |||
| MICHAEL JONES | ||||||||
| SENIOR BUSINESS TECH CONSULTANT | 40.00 | $109,038 | $0 | $0 | Yes (X) | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $1,613,692 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $173,235 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 11 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| GREINER CONSTRUCTION | |||||
| 121 S 8TH ST | MINNEAPOLIS | MN | 55402 | CONTRACTOR | $3,542,793 |
| FISERV | |||||
| PO BOX 934057 | ATLANTA | GA | 31193 | DATA PROCESSING | $1,509,838 |
| NU SOURCE FINANCIAL | |||||
| 9749 HAMILTON ROAD | EDEN PRAIRIE | MN | 55344 | SOFTWARE FOR MEMBER EXPERIENCE | $546,540 |
| NCR | |||||
| 864 SPRING ST NW | ATLANTA | GA | 30308 | SOFTWARE | $330,215 |
| EO JOHNSON | |||||
| PO BOX 539003 | HENDERSON | NV | 89053 | IT SERVICES | $231,611 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 20 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp (4 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| LOAN INTEREST | 522100 | $21,948,673 | $21,948,673 | |
| FEES, CHARGES & OTHER | 522100 | $5,736,911 | $5,736,911 | |
| FINANCE & INSURANCE | 520000 | $483,287 | $483,287 | |
| TECHNICAL SERVICES | 540000 | -$55,907 | -$55,907 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $28,112,964 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $2,601,500 | TotalRevenueColumnAmt |
| Exclusion | $2,601,500 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $77,557 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $103,130 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | -$25,573 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -$25,573 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | -$25,573 | RelatedOrExemptFuncIncomeAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $30,688,891 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $27,660,011 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $427,380 | UnrelatedBusinessRevenueAmt |
| Exclusion | $2,601,500 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $31,866 | TotalAmt |
Benefits To Members BenefitsToMembersGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $9,742,811 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,139,679 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,657,935 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $344,199 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,003,448 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $499,314 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $83,417 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $14,597 | TotalAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $51,376 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $487,441 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $471,251 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,776,390 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $766,500 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $695,755 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $97,226 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,324,863 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,040,917 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| LOAN SERVICING | $1,108,435 |
| PROVISION FOR LOAN LOSS | $330,510 |
| MISCELLANEOUS | $234,986 |
| EDUCATION/TRAINING | $68,153 |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $28,971,069 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,494,843 | BOYAmt |
| EOY | $5,606,243 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $16,928,061 | BOYAmt |
| EOY | $54,509,933 | EOYAmt |
Receivables From Officers Etc ReceivablesFromOfficersEtcGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,714,745 | BOYAmt |
| EOY | $5,710,233 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $395,088,110 | BOYAmt |
| EOY | $412,988,136 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $978,900 | BOYAmt |
| EOY | $971,841 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $25,204,052 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $10,215,334 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $15,307,587 | BOYAmt |
| EOY | $14,988,718 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $64,126,255 | BOYAmt |
| EOY | $48,495,471 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,029,300 | BOYAmt |
| EOY | $3,434,700 | EOYAmt |
Intangible Assets IntangibleAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $560,000 | BOYAmt |
| EOY | $570,000 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $19,824,104 | BOYAmt |
| EOY | $24,893,599 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $524,051,905 | BOYAmt |
| EOY | $572,168,874 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,774,564 | BOYAmt |
| EOY | $4,955,683 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,000,000 | BOYAmt |
| EOY | $25,000,000 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $451,979,752 | BOYAmt |
| EOY | $482,671,235 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $467,754,316 | BOYAmt |
| EOY | $512,626,918 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow FASB117 | Yes (X) | OrgDoesNotFollowFASB117Ind |
Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $56,297,589 | BOYAmt |
| EOY | $59,541,956 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $56,297,589 | BOYAmt |
| EOY | $59,541,956 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $524,051,905 | BOYAmt |
| EOY | $572,168,874 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | $1,717,822 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $1,526,545 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $0 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Consolidated Basis Fincl Stmt | Yes (X) | ConsolidatedBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $3,887,478 | OtherCostOrOtherBasisAmt |
| Book Value | $3,887,478 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $11,621,225 | OtherCostOrOtherBasisAmt |
| Depreciation | $3,818,055 | DepreciationAmt |
| Book Value | $7,803,170 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $172,347 | OtherCostOrOtherBasisAmt |
| Depreciation | $172,347 | DepreciationAmt |
| Book Value | $0 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $9,009,859 | OtherCostOrOtherBasisAmt |
| Depreciation | $6,012,112 | DepreciationAmt |
| Book Value | $2,997,747 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $513,143 | OtherCostOrOtherBasisAmt |
| Depreciation | $212,820 | DepreciationAmt |
| Book Value | $300,323 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $14,988,718 | TotalBookValueLandBuildingsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | MEMBERS' SHARES | Desc |
| Amt | $482,671,235 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $482,671,235 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART X, LINE 2: | FormAndLineReferenceDesc |
| Explanation | THE CREDIT UNION IS EXEMPT, BY STATUTE (IRC SECTION 501(C)14), FROM FEDERAL AND STATE INCOME TAXES. | ExplanationTxt |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable
Recipient Business Name RecipientBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SOUTHPOINT FINANCIAL CREDIT UNION FOUNDATION | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 924 MAIN STREET EAST | AddressLine1Txt |
| City | SLEEPY EYE | CityNm |
| State Abbreviation | MN | StateAbbreviationCd |
| ZIP | 56085 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Recipient EIN | 823572824 | RecipientEIN |
| IRC Section | 501(C)(3) | IRCSectionDesc |
| Cash Grant | $31,866 | CashGrantAmt |
| Non Cash Assistance | $0 | NonCashAssistanceAmt |
| Purpose Of Grant | TO SUPPORT THE FOUNDATION'S MISSION OF CHARITABLE AND EDUCATIONAL PURPOSES. | PurposeOfGrantTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 1 | Total501c3OrgCnt |
| Total Other Org | 0 | TotalOtherOrgCnt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 2: | FormAndLineReferenceDesc |
| Explanation | THE CONTRIBUTION IS CHARITABLE IN NATURE TO THE CREDIT UNION-SPONSORED FOUNDATION. THE OFFICERS OF THE FOUNDATION ARE CREDIT UNION EMPLOYEES WHO ENSURE THE FUNDS CONTRIBUTED BY THE CREDIT UNION ARE USED TO CARRY OUT THE FOUNDATION'S MISSION. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | Yes (1) | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (6 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| JAY GOSTONCZIK | ||||||||||||||
| CEO | $265,831 | $0 | $1,661 | $0 | $10,625 | $0 | $17,106 | $0 | $27,261 | $0 | $322,484 | $0 | $0 | $0 |
| ALAN PETERSON | ||||||||||||||
| CFO | $190,662 | $0 | $1,661 | $0 | $0 | $0 | $11,814 | $0 | $9,817 | $0 | $213,954 | $0 | $0 | $0 |
| DAVID SCHOUTEN | ||||||||||||||
| CIO | $165,573 | $0 | $0 | $0 | $9,000 | $0 | $5,992 | $0 | $27,260 | $0 | $207,825 | $0 | $0 | $0 |
| TROY DIEDRICH | ||||||||||||||
| EVP | $184,387 | $0 | $1,661 | $0 | $3,558 | $0 | $11,033 | $0 | $0 | $0 | $200,639 | $0 | $0 | $0 |
| PATRICE GOHL | ||||||||||||||
| COO | $182,248 | $0 | $1,661 | $0 | $0 | $0 | $10,868 | $0 | $0 | $0 | $194,777 | $0 | $0 | $0 |
| ROBERT SCHMID | ||||||||||||||
| CLO | $134,596 | $0 | $1,661 | $0 | $5,769 | $0 | $8,310 | $0 | $9,817 | $0 | $160,153 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 4B | FormAndLineReferenceDesc |
| Explanation | THE FOLLOWING EXECUTIVES PARTICIPATED IN A NON-QUALIFIED RETIREMENT PLAN IN 2024: JAY GOSTONCZIK PATRICE GOHL ROBERT SCHMID TROY DIEDRICH JAY GOSTONCZIK, PATRICE GOHL, TROY DIEDRICH, AND ALAN PETERSON PARTICIPATE IN A SUPPLEMENTAL RETIREMENT BENEFITS ARRANGEMENT REFERRED TO AS A "COLLATERAL ASSIGNED SPLIT DOLLAR" PLAN. AT SPECIFIED TIMES, THE PARTICIPANTS MAY BORROW FUNDS FROM THE CASH SURRENDER VALUE OF THE UNDERLYING LIFE INSURANCE POLICY TO SUPPLEMENT RETIREMENT INCOME. THESE DRAWS ARE TAX FREE FOR THE PARTICIPANTS. UPON THE PARTICIPANT'S DEATH THE CREDIT UNION RECOVERS ITS PREMIUMS PLUS INTEREST, PLUS KEY-PERSON INSURANCE PROCEEDS. | ExplanationTxt |
Schedule L IRS990ScheduleL
Loans Btwn Org Interested Prsn LoansBtwnOrgInterestedPrsnGrp (4 entries)
| Relationship With OrgRelationshipWithOrgTxt | Loan PurposeLoanPurposeTxt | Loan From OrganizationLoanFromOrganizationInd | Original PrincipalOriginalPrincipalAmt | Balance DueBalanceDueAmt | DefaultDefaultInd | Board Or Committee ApprovalBoardOrCommitteeApprovalInd | Written AgreementWrittenAgreementInd |
|---|---|---|---|---|---|---|---|
| JAY GOSTONCZIK | |||||||
| CEO | SPLIT DOLLAR | Yes (X) | $1,600,000 | $1,540,242 | 0 | Yes (1) | Yes (1) |
| PATRICE GOHL | |||||||
| COO | SPLIT DOLLAR | Yes (X) | $1,275,000 | $1,188,209 | 0 | Yes (1) | Yes (1) |
| TROY DIEDRICH | |||||||
| EVP | SPLIT DOLLAR | Yes (X) | $975,000 | $931,049 | 0 | Yes (1) | Yes (1) |
| ALAN PETERSON | |||||||
| CFO | SPLIT DOLLAR | Yes (X) | $2,100,000 | $2,050,733 | 0 | Yes (1) | Yes (1) |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Balance Due | $5,710,233 | TotalBalanceDueAmt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | FORM 990, SCH L, PART II | FormAndLineReferenceDesc |
| Explanation | THE CREDIT UNION PROVIDES SUPPLEMENTAL RETIREMENT BENEFITS THROUGH AN ARRANGEMENT REFERRED TO AS A "COLLATERAL ASSIGNED SPLIT DOLLAR" PLAN. ALTHOUGH THE IRS REQUIRES REPORTING IN PART II AS A LOAN TO AN INTERESTED PARTY, THIS IS NOT AN ACTUAL LOAN. THERE IS NO TRANSFER OF FUNDS TO THE PARTICIPANTS NOR AN OBLIGATION TO REPAY THE FUNDS. INSTEAD, THE CREDIT UNION RECOVERS ANY OUTLAYS, PLUS INTEREST, FROM THE UNDERLYING POLICY. THAT IS, THE CREDIT UNION DEPOSITS FUNDS DIRECTLY INTO A LIFE INSURANCE POLICY TO ENSURE REPAYMENT. AT SPECIFIED TIMES, THE PARTICIPANTS MAY BORROW FUNDS FROM THE CASH SURRENDER VALUE OF THE POLICY TO SUPPLEMENT RETIREMENT INCOME. THE BORROWINGS ARE MONITORED TO ENSURE THE POLICY WILL PAY A DEATH BENEFIT AT LEAST SUFFICIENT TO COVER THE CREDIT UNION'S OUTLAYS PLUS INTEREST. ANY REMAINING DEATH BENEFITS ARE DIVIDED BETWEEN THE CREDIT UNION AND THE PARTICIPANT'S BENEFICIARIES AS AGREED UPON. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (9 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | MEMBERSHIP IN SOUTHPOINT FINANCIAL CREDIT UNION (SPFCU OR THE CREDIT UNION) IS OPEN BY GEOGRAPHIC CHARTER TO SERVE INDIVIDUALS WHO LIVE, WORK, WORSHIP, OR ATTEND SCHOOL AND BUSINESSES AND OTHER LEGAL ENTITIES LOCATED WITHIN THE AREA OF BROWN, REDWOOD, RENVILLE, NICOLLET, SIBLEY, BLUE EARTH, FARIBAULT, MARTIN, WATONWAN, COTTONWOOD, MURRAY, LYON, KANDIYOHI, MEEKER, MCLEOD, CARVER, LE SUEUR, WRIGHT, SCOTT, RICE, WASECA, STEELE, AND FREEBORN COUNTIES, MINNESOTA, (AND/OR BECOME A PATRON OF THE SOUTHPOINT FINANCIAL CREDIT UNION FOUNDATION). MEMBERS MAY MAINTAIN THEIR MEMBERSHIP FOR A LIFETIME AND THEREFORE, MAY UTILIZE THE SERVICES AT SPFCU EVEN IF THEY HAVE MOVED AWAY FROM THIS AREA. |
| FORM 990, PART VI, SECTION A, LINE 7A | MEMBERS VOTE FOR BOARD OF DIRECTORS, WHICH ARE ALSO MEMBERS. |
| FORM 990, PART VI, SECTION A, LINE 7B | MEMBERS MUST VOTE ON BOARD OF DIRECTORS AND ANY COMPENSATION OF THE BOARD. |
| FORM 990, PART VI, SECTION A, LINE 8B | NO COMMITTEE HAS AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. |
| FORM 990, PART VI, SECTION B, LINE 11B | CFO REVIEWS DOCUMENTS FOR ACCURACY, THEN CEO DOES FINAL APPROVAL OF THE 990 FORM. |
| FORM 990, PART VI, SECTION B, LINE 12C | THE BOARD AND SUPERVISORY COMMITTEE SIGN AN ANNUAL AGREEMENT REGARDING CONFLICTS OF INTEREST. |
| FORM 990, PART VI, SECTION B, LINE 15 | THE COMPENSATION FOR THE CEO IS DETERMINED BY THE BOD. EXECUTIVE MANAGEMENT COMPENSATION IS DETERMINED BY THE CEO IN ACCORDANCE WITH THE CREDIT UNION'S COMPENSATION STRUCTURE. EXECUTIVE MANAGERS COMPENSATE MID-LEVEL MANAGERS AND KEY EMPLOYEES BASED ON THE CREDIT UNION'S COMPENSATION STRUCTURE. |
| FORM 990, PART VI, SECTION C, LINE 19 | A BALANCE SHEET IS AVAILABLE IN THE LOBBY OF EACH OF OUR RETAIL BRANCHES. |
| FORM 990, PART XII, LINE 2C | THE OVERSIGHT AND SELECTION PROCESS HAS NOT CHANGED FROM THE PRIOR TAX YEAR. |
Schedule R IRS990ScheduleR
Id Disregarded Entities IdDisregardedEntitiesGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SOUTHPOINT INSURANCE AGENCY LLC | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 333 5TH ST SW | AddressLine1Txt |
| City | WILLMAR | CityNm |
| State Abbreviation | MN | StateAbbreviationCd |
| ZIP | 56201 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 921328880 | EIN |
| Primary Activities | INSURANCE | PrimaryActivitiesTxt |
| Legal Domicile State | MN | LegalDomicileStateCd |
| Total Income | $455,176 | TotalIncomeAmt |
| End Of Year Assets | $766,683 | EndOfYearAssetsAmt |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SOUTHPOINT FINANCIAL CREDIT UNION | BusinessNameLine1Txt |
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SOUTHPOINT FINANCIAL FOUNDATION | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 924 MAIN STREET EAST | AddressLine1Txt |
| City | SLEEPY EYE | CityNm |
| State Abbreviation | MN | StateAbbreviationCd |
| ZIP | 56085 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 823572824 | EIN |
| Primary Activities | TO FURTHER SOUTHPOINT FINANCIAL CREDIT UNION'S CHARITABLE ACTIVITIES | PrimaryActivitiesTxt |
| Legal Domicile State | MN | LegalDomicileStateCd |
| Exempt Code Section | 501(C)(3) | ExemptCodeSectionTxt |
| Public Charity Status | PF | PublicCharityStatusTxt |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SOUTHPOINT FINANCIAL CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Controlled Organization | Yes (1) | ControlledOrganizationInd |
Id Related Org Txbl Partnership IdRelatedOrgTxblPartnershipGrp
Related Organization Name RelatedOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MN3 CUSO LLC DBA ACUTE TECHNOLOGY SOLUTIONS | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2201 FOX VALLEY DRIVE SW | AddressLine1Txt |
| City | ROCHESTER | CityNm |
| State Abbreviation | MN | StateAbbreviationCd |
| ZIP | 55902 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 923315953 | EIN |
| Primary Activities | TECHNOLOGY | PrimaryActivitiesTxt |
| Legal Domicile State | MN | LegalDomicileStateCd |
| Direct Controlling NA | N/A | DirectControllingNACd |
| Predominant Income Type | UNRELATED | PredominantIncomeTypeTxt |
| Share Of Total Income | -$55,907 | ShareOfTotalIncomeAmt |
| Share Of EOY Assets | $45,741 | ShareOfEOYAssetsAmt |
| Disproportionate Allocations | 0 | DisproportionateAllocationsInd |
| General Or Managing Partner | 0 | GeneralOrManagingPartnerInd |
| Ownership | 0.33330 | OwnershipPct |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | Yes (1) | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | 0 | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | 0 | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | 0 | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | 0 | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | 0 | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | 0 | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | Yes (1) | SharingOfFacilitiesInd |
| Paid Employees Sharing | Yes (1) | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | 0 | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |