IDEAL CREDIT UNION: Form 990, tax year 2011
View the entire original 990 at ProPublica ↗
- Organization
- IDEAL CREDIT UNION (EIN 41-0519270)
- Tax period
- 2011-01-01 to 2011-12-31
- Filed
- 2012-05-25
- IRS object ID
- 201201469349300415
- Schema version
- 2011v1.2
- 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) |
|---|---|---|
| Timestamp | 2012-05-25T13:26:53-05:00 | Timestamp |
| Tax Period End Date | 2011-12-31 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 410746749 | EIN |
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CLIFTONLARSONALLEN LLP | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 217 | AddressLine1 |
| City | AUSTIN | City |
| State | MN | State |
| ZIP Code | 55912 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2011-01-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 410519270 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ST PAUL POSTAL EMPLOYEES CREDIT UNION | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | STPA | NameControl |
| Phone | 6517707000 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 8499 TAMARACK RD | AddressLine1 |
| City | WOODBURY | City |
| State | MN | State |
| ZIP Code | 55125 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | RUSSELL PLUNKETT | Name |
| Title | CEO | Title |
| Phone | 6517707000 | Phone |
| Date Signed | 2012-05-17 | DateSigned |
| Authorize Third Party | 1 | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | RICHARD J GABRIELSON | Name |
| PTIN | P00001024 | PTIN |
| Phone | 5074347000 | Phone |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2011 | TaxYear |
| Build TS | 2016-02-24 21:20:13Z | BuildTS |
Form 990 IRS990
Doing Business As DoingBusinessAs
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | POSTAL CREDIT UNION | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | RUSSELL PLUNKETT | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 8499 TAMARACK RD | AddressLine1 |
| City | WOODBURY | City |
| State | MN | State |
| ZIP Code | 55125 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 26745085 | GrossReceipts |
| Group Return For Affiliates | 0 | GroupReturnForAffiliates |
| Organization501c | X | Organization501c |
| Web Site | WWW.POSTALCU.ORG | WebSite |
| Type Of Organization Other | X | TypeOfOrganizationOther |
| Type Of Org Other Description | CU | TypeOfOrgOtherDescription |
| Year Formation | 1926 | YearFormation |
| State Legal Domicile | MN | StateLegalDomicile |
| Activity Or Mission Description | TO PROVIDE FINANCIAL SERVICES TO OUR MEMBERSHIP. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 9 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 9 | NbrIndependentVotingMembers |
| Total Nbr Employees | 156 | TotalNbrEmployees |
| Total Nbr Volunteers | 0 | TotalNbrVolunteers |
| Total Gross UBI | 23306 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | 0 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Prior Year | 0 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 0 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 25989512 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 25097035 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 1859348 | InvestmentIncomePriorYear |
| Investment Income Current Year | 1385552 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 0 | OtherRevenuePriorYear |
| Other Revenue Current Year | 0 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 27848860 | TotalRevenuePriorYear |
| Total Revenue Current Year | 26482587 | TotalRevenueCurrentYear |
| Grants And Similar Amnts Prior Year | 0 | GrantsAndSimilarAmntsPriorYear |
| Grants And Similar Amnts CY | 0 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members Prior Year | 4689722 | BenefitsPaidToMembersPriorYear |
| Benefits Paid To Members CY | 3779764 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 8466280 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 8721095 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp Prior Year | 0 | TotalProfFundrsngExpPriorYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 0 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 12820956 | OtherExpensePriorYear |
| Other Expenses Current Year | 11405359 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 25976958 | TotalExpensesPriorYear |
| Total Expenses Current Year | 23906218 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | 1871902 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | 2576369 | RevenuesLessExpensesCY |
| Total Assets BOY | 488958688 | TotalAssetsBOY |
| Total Assets EOY | 511009626 | TotalAssetsEOY |
| Total Liabilities BOY | 447446348 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 468327292 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 41512340 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 42682334 | NetAssetsOrFundBalancesEOY |
| Mission Description | TO PROVIDE FINANCIAL SERVICES TO OUR MEMBERSHIP INCLUDING LOANS, DEPOSITS AND OTHER MISCELLANEOUS SERVICES. | MissionDescription |
| Significant New Program Services | 0 | SignificantNewProgramServices |
| Significant Change | 0 | SignificantChange |
| Description | THE CREDIT UNION PROVIDES FINANCIAL SERVICES TO APPROXIMATELY 40,000 MEMBERS. ALL EXCESS EARNINGS OF THE CREDIT UNION GO TO RETAINED EARNINGS, OUR ONLY SOURCE OF CAPITAL. WE PROVIDE A BROAD ARRAY OF FINANCIAL SERVICES INCLUDING CONSUMER LOANS, REAL ESTATE LOANS AND BUSINESS LOANS. | Description |
Activity2 Activity2
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | THE CREDIT UNION PROVIDES A WIDE ARRAY OF DEPOSIT PRODUCTS TO OUR MEMBERS INCLUDING SAVINGS, MONEY MARKET, IRA'S, CD'S AND CHECKING. ATTACHED TO THE CHECKING WE OFFER ACCESS TO ATM'S, DEBIT CARDS, ACH AND OTHER PAYMENT SYSTEMS. | Description |
Activity3 Activity3
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | THE CREDIT UNION PROVIDES ACCESS TO ALL MEMBERS THROUGH BOTH TELEPHONE AND INTERNET SERVICES. | Description |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Described In501 C3 | 0 | DescribedIn501C3 |
| Schedule B Required | 0 | ScheduleBRequired |
| Political Activities | 0 | PoliticalActivities |
| Donor Advised Funds | 0 | DonorAdvisedFunds |
| Conservation Easements | 0 | ConservationEasements |
| Collections Of Art | 0 | CollectionsOfArt |
| Credit Counseling | 0 | CreditCounseling |
| Term Or Permanent Endowments | 0 | TermOrPermanentEndowments |
| Report Land Bldg Equip | 1 | ReportLandBldgEquip |
| Report Invest Oth Securities | 1 | ReportInvestOthSecurities |
| Report Prog Rel Invest | 0 | ReportProgRelInvest |
| Report Other Assets | 0 | ReportOtherAssets |
| Report Other Liabilities | 1 | ReportOtherLiabilities |
| Report Fin48 Footnote | 1 | ReportFin48Footnote |
| Independent Audit Financial Stmt | 1 | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | 0 | ConsolidatedAuditFinancialStmt |
| School | 0 | School |
| Foreign Office | 0 | ForeignOffice |
| Foreign Activities | 0 | ForeignActivities |
| More Than5000 K To Organizations | 0 | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividuals |
| Professional Fundraising | 0 | ProfessionalFundraising |
| Fundraising Activities | 0 | FundraisingActivities |
| Gaming | 0 | Gaming |
| Hospital | 0 | Hospital |
| Grants To Organizations | 0 | GrantsToOrganizations |
| Grants To Individuals | 0 | GrantsToIndividuals |
| Schedule J Required | 1 | ScheduleJRequired |
| Tax Exempt Bonds | 0 | TaxExemptBonds |
| Loan To Officer Or DQP | 0 | LoanToOfficerOrDQP |
| Grant To Related Person | 0 | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | 0 | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | 0 | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | 0 | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | 0 | DeductibleNonCashContributions |
| Deductible Contributions Of Art | 0 | DeductibleContributionsOfArt |
| Terminated | 0 | Terminated |
| Partial Liquidation | 0 | PartialLiquidation |
| Disregarded Entity | 0 | DisregardedEntity |
| Related Entity | 1 | RelatedEntity |
| Related Org Controlled Entity | 1 | RelatedOrgControlledEntity |
| Transaction Related Entity | 0 | TransactionRelatedEntity |
| Activities Conducted Partnership | 0 | ActivitiesConductedPartnership |
| Schedule O Required | 1 | ScheduleORequired |
| Number Forms Transmitted With1096 | 7987 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Compliance With Backup Witholding | 1 | ComplianceWithBackupWitholding |
| Number Of Employees | 156 | NumberOfEmployees |
| Employment Tax Returns Filed | 1 | EmploymentTaxReturnsFiled |
| Unrelated Business Income | 1 | UnrelatedBusinessIncome |
| Form990-T Filed | 1 | Form990-TFiled |
| Foreign Financial Account | 0 | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTrans |
| Taxable Party Notification | 0 | TaxablePartyNotification |
| Non Deductible Contributions | 0 | NonDeductibleContributions |
| Indoor Tanning Services | 0 | IndoorTanningServices |
| Info In Schedule O Part VI | X | InfoInScheduleOPartVI |
| Nbr Voting Governing Body Members | 9 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 9 | NumberIndependentVotingMembers |
| Family Or Business Relationship | 1 | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | 0 | DelegationOfManagementDuties |
| Changes To Organizing Docs | 0 | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuse |
| Members Or Stockholders | 1 | MembersOrStockholders |
| Election Of Board Members | 1 | ElectionOfBoardMembers |
| Decisions Subject To Approval | 1 | DecisionsSubjectToApproval |
| Minutes Of Governing Body | 1 | MinutesOfGoverningBody |
| Minutes Of Committees | 1 | MinutesOfCommittees |
| Officer Mailing Address | 0 | OfficerMailingAddress |
| Local Chapters | 0 | LocalChapters |
| Form990 Provided To Governing Body | 1 | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | 1 | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | 1 | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | 1 | RegularMonitoringEnforcement |
| Whistleblower Policy | 1 | WhistleblowerPolicy |
| Document Retention Policy | 1 | DocumentRetentionPolicy |
| Compensation Process CEO | 1 | CompensationProcessCEO |
| Compensation Process Other | 1 | CompensationProcessOther |
| Investment In Joint Venture | 0 | InvestmentInJointVenture |
| Other Website | X | OtherWebsite |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Person | DENNIS BAUER | NamePerson |
| Telephone Number | 6517478902 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 8499 TAMARACK ROAD | AddressLine1 |
| City | WOODBURY | City |
| State | MN | State |
| ZIP Code | 55125 | ZIPCode |
Form990 Part VII Section A Form990PartVIISectionA (17 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation | OfficerOfficer | Key EmployeeKeyEmployee | Highest Compensated EmployeeHighestCompensatedEmployee |
|---|---|---|---|---|---|---|---|---|
| JAMES C BRYAN | ||||||||
| CHAIRMAN | 1.00 | X | 1479 | 0 | 0 | |||
| DANIEL L BLEES | ||||||||
| SECRETARY | 1.00 | X | 1874 | 0 | 0 | |||
| ALLAN J BRENNAN | ||||||||
| DIRECTOR | 1.00 | X | 1370 | 0 | 0 | |||
| KEITH E HAUGE | ||||||||
| VICE CHAIRMAN | 1.00 | X | 1495 | 0 | 0 | |||
| ROGER MCCLURE | ||||||||
| DIRECTOR | 1.00 | X | 1399 | 0 | 0 | |||
| MARY WHITE | ||||||||
| DIRECTOR | 1.00 | X | 1549 | 0 | 0 | |||
| JUDY SCHADEWALD | ||||||||
| DIRECTOR | 1.00 | X | 1454 | 0 | 0 | |||
| ROBERT VANCE | ||||||||
| DIRECTOR | 1.00 | X | 1606 | 0 | 0 | |||
| LAURIE LUDWIG | ||||||||
| DIRECTOR | 1.00 | X | 650 | 0 | 0 | |||
| RUSSELL PLUNKETT | ||||||||
| CEO | 37.50 | 295689 | 0 | 50984 | X | |||
| DENNIS BAUER | ||||||||
| CFO | 37.50 | 306155 | 0 | 41934 | X | |||
| BRIAN SHERRICK | ||||||||
| EXECUTIVE VP | 37.50 | 306602 | 0 | 41995 | X | |||
| JEANINE SWANSON | ||||||||
| SR VICE PRESIDENT | 37.50 | 232397 | 0 | 21504 | X | |||
| LAWRENCE MIGGLER | ||||||||
| VICE PRESIDENT | 37.50 | 147525 | 0 | 36100 | X | |||
| KELLY JOHNSON | ||||||||
| VICE PRESIDENT | 37.50 | 112440 | 0 | 19708 | X | |||
| MICHAEL RUSH | ||||||||
| VICE PRESIDENT | 37.50 | 119644 | 0 | 30383 | X | |||
| ALISHA JOHNSON | ||||||||
| VICE PRESIDENT | 37.50 | 119750 | 0 | 23963 | X | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 1653078 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 0 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 266571 | TotalOtherCompensation |
| Number Individuals GT100 K | 8 | NumberIndividualsGT100K |
| Formers Listed | 0 | FormersListed |
| Total Comp GT150 K | 1 | TotalCompGT150K |
| Compensation From Other Sources | 0 | CompensationFromOtherSources |
Contractor Compensation ContractorCompensation (5 entries)
| Address Line1AddressOfContractor/AddressUS/AddressLine1 | CityAddressOfContractor/AddressUS/City | StateAddressOfContractor/AddressUS/State | ZIP CodeAddressOfContractor/AddressUS/ZIPCode | Description Of ServicesDescriptionOfServices | CompensationCompensation |
|---|---|---|---|---|---|
| HEALTH PARTNERS INC | |||||
| PO BOX 1450 | MINNEAPOLIS | MN | 55485 | PCU EMPLOYEE HEALTHCARE | 902015 |
| FIRST DATA | |||||
| 5270 W 84TH ST SUITE 260 | BLOOMINGTON | MN | 55437 | DEBIT CARD/ATM CARD PROCESSOR | 558588 |
| PSCU | |||||
| 6454 171ST LANE NW | RAMSEY | MN | 55303 | CREDIT CARD PROCESSOR | 457723 |
| HARLAND FINANCIAL | |||||
| PO BOX 53521 | ATLANTA | GA | 30353 | CORE PROCESSING SYSTEM | 305421 |
| HARLAND FINANCIAL | |||||
| PO BOX 931898 | ATLANTA | GA | 31193 | STATEMENTS AND TAX FORMS | 264648 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 12 | NumberOfContractorsGT100K |
Program Service Revenue ProgramServiceRevenue (3 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome | Unrelated Business RevenueUnrelatedBusinessRevenue |
|---|---|---|---|---|
| LOAN INTEREST | 900099 | 17944892 | 17944892 | |
| FEES & SERVICE CHGS | 522100 | 4044332 | 4021026 | 23306 |
| OTHER OPERATING INCOME | 900099 | 3107811 | 3107811 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 25097035 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 1523176 | TotalRevenueColumn |
| Exclusion | $1,523,176 | ExclusionAmount |
Gross Amount Sales Assets GrossAmountSalesAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 122053 | Securities |
| Other | 2821 | Other |
Less Cost Oth Basis Sales Expenses LessCostOthBasisSalesExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | 262498 | Other |
Gain Or Loss GainOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 122053 | Securities |
| Other | -259677 | Other |
Net Gain Or Loss Investments NetGainOrLossInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -137624 | TotalRevenueColumn |
| Exclusion | -$137,624 | ExclusionAmount |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 26482587 | TotalRevenueColumn |
| Related Or Exempt Function Income | 25073729 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 23306 | UnrelatedBusinessRevenue |
| Exclusion | $1,385,552 | ExclusionAmount |
Benefits To Members BenefitsToMembers
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 3779764 | Total |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1056235 | Total |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 5710787 | Total |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1432412 | Total |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 521661 | Total |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1657298 | Total |
Occupancy Occupancy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 790346 | Total |
Travel Travel
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 354062 | Total |
Interest Interest
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1901676 | Total |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1048501 | Total |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 57429 | Total |
Other Expenses OtherExpenses (4 entries)
| DescriptionDescription | TotalTotal |
|---|---|
| PROFESSIONAL/OUTSIDE SE | 1893380 |
| PROVISION FOR LOAN LOSS | 1354666 |
| CORPORATE FUND ASSESSME | 995355 |
| EDUCATIONAL & PROMOTION | 646212 |
All Other Expenses AllOtherExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 706434 | Total |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 23906218 | Total |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 33475948 | BOY |
| EOY | 53179180 | EOY |
Savings And Temp Cash Investments SavingsAndTempCashInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 43150036 | BOY |
| EOY | 28861148 | EOY |
Accounts Receivable AccountsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 471557 | BOY |
| EOY | 279383 | EOY |
Other Notes Loans Receivable Net OtherNotesLoansReceivableNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 344681227 | BOY |
| EOY | 358438391 | EOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1730693 | BOY |
| EOY | 1583596 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 28160946 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 10730551 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 17917356 | BOY |
| EOY | 17430395 | EOY |
Investments Other Securities InvestmentsOtherSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 25896592 | BOY |
| EOY | 26410612 | EOY |
Investments Program Related InvestmentsProgramRelated
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 3975956 | BOY |
| EOY | 3893132 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 17659323 | BOY |
| EOY | 20933789 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 488958688 | BOY |
| EOY | 511009626 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 3163112 | BOY |
| EOY | 4691417 | EOY |
Mort Notes Pybl Secured Invest Prop MortNotesPyblSecuredInvestProp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 55009012 | BOY |
| EOY | 53256623 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 389274224 | BOY |
| EOY | 410379252 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 447446348 | BOY |
| EOY | 468327292 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Do Not Follow SFAS117 | X | DoNotFollowSFAS117 |
Cap Stck Trst Prin Current Funds CapStckTrstPrinCurrentFunds
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Paid In Cap Srpls Land Bldg Eqp Fund PaidInCapSrplsLandBldgEqpFund
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Retained Earnings Endowment Etc RetainedEarningsEndowmentEtc
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 41512340 | BOY |
| EOY | 42682334 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 41512340 | BOY |
| EOY | 42682334 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 488958688 | BOY |
| EOY | 511009626 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | X | InfoInScheduleOPartXI |
| Reconcilation Revenue Expenses | 2576369 | ReconcilationRevenueExpenses |
| Reconcilation Other Changes | -1406375 | ReconcilationOtherChanges |
| Info In Schedule O Part XII | X | InfoInScheduleOPartXII |
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | 0 | AccountantCompileOrReview |
| FS Audited | 1 | FSAudited |
| Audit Committee | 1 | AuditCommittee |
| Financial Statement Separate | X | FinancialStatementSeparate |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequired |
Schedule D IRS990ScheduleD
Land Land
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 4769798 | OtherCostOrOtherBasis |
| Book Value | 4769798 | BookValue |
Buildings Buildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 14013487 | OtherCostOrOtherBasis |
| Depreciation | 3069573 | Depreciation |
| Book Value | 10943914 | BookValue |
Equipment Equipment
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 9377661 | OtherCostOrOtherBasis |
| Depreciation | 7660978 | Depreciation |
| Book Value | 1716683 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 17430395 | TotalOfBookValueLandBuildings |
Other Securities OtherSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | SECURITIES - AFS | Description |
| Book Value | 26410612 | BookValue |
| Method Of Valuation | F | MethodOfValuation |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Securities | 26410612 | TotalOfBookValueSecurities |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | MEMBER ACCOUNTS | Description |
| Amount | $410,379,252 | Amount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 410379252 | TotalOfAmounts |
| Total Revenue | 26482587 | TotalRevenue |
| Total Expenses | 23906218 | TotalExpenses |
| Excess Or Deficit For Year | 2576369 | ExcessOrDeficitForYear |
| Net Unrealized GL On Investments | 30156 | NetUnrealizedGLOnInvestments |
| Other | -$1,436,531 | OtherAmount |
| Total Adjustments | -1406375 | TotalAdjustments |
| Excess Or Deficit Per FS | 1169994 | ExcessOrDeficitPerFS |
| Tot Revenue Etc Audited Fincl Stmt | 26742266 | TotRevenueEtcAuditedFinclStmt |
| Other Revenues | 259679 | OtherRevenues |
| Revenue Not Rptd F990 | 259679 | RevenueNotRptdF990 |
| Revenue Subtotal | 26482587 | RevenueSubtotal |
| Revenue Not Rptd On Fin Stmt | 0 | RevenueNotRptdOnFinStmt |
| Total Revenue Per Form990 | 26482587 | TotalRevenuePerForm990 |
| Tot Expenses Etc Audited Fincl Stmt | 24165894 | TotExpensesEtcAuditedFinclStmt |
| Other Expenses Included | 259676 | OtherExpensesIncluded |
| Expenses Not Rptd F990 | 259676 | ExpensesNotRptdF990 |
| Expenses Subtotal | 23906218 | ExpensesSubtotal |
| Expenses Not Rptd On Fin Stmt | 0 | ExpensesNotRptdOnFinStmt |
| Total Expenses Per Form990 | 23906218 | TotalExpensesPerForm990 |
Form990 Schedule D Part XIV Form990ScheduleDPartXIV (4 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: | PART X: | THE CREDIT UNION IS EXEMPT, UNDER IRC SECTION 501 (C) (14), FROM FEDERAL AND STATE INCOME TAXES. CERTAIN PRODUCTS AND SERVICES PROVIDED BY SELECT STATE CHARTERED CREDIT UNIONS HAVE BEEN DEEMED BY THE INTERNAL REVENUE SERVICE, IN TECHNICAL ADVICE MEMORANDUMS RELEASED IN MARCH OF 2007, TO BE UNRELATED TO THE SPECIFIC ENTITY'S EXEMPT PURPOSE. AS PRESENTED IN THE TECHNICAL ADVICE MEMORANDUMS THE NET TAXABLE INCOME FROM THESE PRODUCTS AND SERVICES WOULD BE SUBJECT TO INCOME TAXES. CREDIT UNIONS HAVE LITIGATED AGAINST THE IRS POSITIONS NOTED IN THE TAMS AND HAVE BEEN SUCCESSFUL IN HAVING COURTS DECLARE IN 2009 AND 2010 THAT REVENUE FROM INSURANCE PRODUCTS SOLD TO MEMBERS, HELPING THEM PROTECT THEIR FINANCIAL WELLBEING, QUALIFIES AS EXEMPT PURPOSE INCOME, CONTRARY TO THE IRS POSITION IN THE TAMS. THE CREDIT UNION HAS FILED TAX RETURNS IN THE PAST FOR POTENTIAL TAXABLE ACTIVITIES. THE CREDIT UNION HAS A NET OPERATING LOSS CARRYFORWARD TO 2011 OF APPROXIMATELY $130,000. A DEFERRED TAX ASSET HAS NOT BEEN RECOGNIZED FOR ANY FUTURE BENEFITS OF ITS USE. THE TAXING AUTHORITIES HAVE THE ABILITY TO ASSESS TAXES, PENALTIES AND INTEREST FOR ANY YEARS FOR WHICH NO TAX RETURN IS FILED. IN THE OPINION OF MANAGEMENT, ANY LIABILITY RESULTING FROM TAXING AUTHORITIES IMPOSING INCOME TAXES ON THE NET TAXABLE INCOME FROM ACTIVITIES POTENTIALLY DEEMED TO BE UNRELATED TO THE CREDIT UNION'S EXEMPT PURPOSE IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON THE CREDIT UNION'S FINANCIAL POSITION OR RESULTS OF OPERATIONS. THE CREDIT UNION ADOPTED THE INCOME TAX STANDARD FOR UNCERTAIN TAX POSITIONS. AS A RESULT, THE CREDIT UNION EVALUATED ITS TAX POSITIONS AND DETERMINED NO UNCERTAIN TAX POSITIONS EXIST AS OF DECEMBER 31, 2011 AND 2010. THE CREDIT UNION'S 2008 THROUGH 2011 TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES. |
| PART XI, LINE 8 - OTHER ADJUSTMENTS: | SFAS 158 IMPLEMENTATION RELATED TO DEFINED BENEFIT PLAN -1,314,477. RECLASSIFICATION FOR GAINS INCLUDED IN NET INCOME -122,054. TOTAL TO SCHEDULE D, PART XI, LINE 8: -1,436,531. | |
| PART XII, LINE 2D - OTHER ADJUSTMENTS: | (GAIN)/LOSS ON SALE OF ASSETS 259,679. | |
| PART XIII, LINE 2D - OTHER ADJUSTMENTS: | (GAIN)/LOSS ON SALE OF ASSETS 259,676. |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Independent Consultant | X | IndependentConsultant |
| Compensation Survey | X | CompensationSurvey |
| Severance Payment | 0 | SeverancePayment |
| Supplemental Nonqual Retire Plan | 1 | SupplementalNonqualRetirePlan |
| Equity Based Comp Arrangement | 0 | EquityBasedCompArrangement |
Form990 Schedule J Part II Form990ScheduleJPartII (6 entries)
| Base Compensation Filing OrgBaseCompensationFilingOrg | Comp Based On Related OrgsCompBasedOnRelatedOrgs | Bonus Filing OrgBonusFilingOrg | Bonus Related OrgsBonusRelatedOrgs | Other Compensation Filing OrgOtherCompensationFilingOrg | Other Compensation Related OrgsOtherCompensationRelatedOrgs | Deferred Comp Filing OrgDeferredCompFilingOrg | Deferred Comp Related OrgsDeferredCompRelatedOrgs | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrg | Nontaxable Benefits Related OrgsNontaxableBenefitsRelatedOrgs | Total Compensation Filing OrgTotalCompensationFilingOrg | Total Compensation Related OrgsTotalCompensationRelatedOrgs | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrg | Comp Report Prior990 Related OrgsCompReportPrior990RelatedOrgs |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| RUSSELL PLUNKETT | |||||||||||||
| 283172 | 0 | 0 | 0 | 12517 | 0 | 29438 | 0 | 21546 | 0 | 346673 | 0 | 0 | 0 |
| DENNIS BAUER | |||||||||||||
| 184283 | 0 | 0 | 0 | 121872 | 0 | 20619 | 0 | 21315 | 0 | 348089 | 0 | 0 | 0 |
| BRIAN SHERRICK | |||||||||||||
| 184893 | 0 | 0 | 0 | 121709 | 0 | 20684 | 0 | 21311 | 0 | 348597 | 0 | 0 | 0 |
| JEANINE SWANSON | |||||||||||||
| 127881 | 0 | 0 | 0 | 104516 | 0 | 14798 | 0 | 6706 | 0 | 253901 | 0 | 0 | 0 |
| LAWRENCE MIGGLER | |||||||||||||
| 138979 | 0 | 4631 | 0 | 3915 | 0 | 16075 | 0 | 20025 | 0 | 183625 | 0 | 0 | 0 |
| MICHAEL RUSH | |||||||||||||
| 113420 | 0 | 3297 | 0 | 2927 | 0 | 12146 | 0 | 18237 | 0 | 150027 | 0 | 0 | 0 |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (10 entries)
| Return ReferenceReturnReference | ExplanationExplanation | IdentifierIdentifier |
|---|---|---|
| FORM 990, PART VI, SECTION A, LINE 2 | BRIAN SHERRICK AND JEANINE SWANSON - FAMILY RELATIONSHIP | |
| FORM 990, PART VI, SECTION A, LINE 6 | THE CREDIT UNION IS COMPRISED OF A SINGLE CLASS OF APPROXIMATELY 40,000 MEMBER-OWNERS, EACH OF WHICH HAS EQUAL RIGHTS IN OWNERSHIP, GOVERNANCE AND VOTING RIGHTS AT THE ANNUAL MEETINGS, WITH THE EXCEPTION OF THE MEMBER-OWNERS WHO ARE ELECTED TO THE THE BOARD OF DIRECTORS. | |
| FORM 990, PART VI, SECTION A, LINE 7A | THE MEMBER-OWNERS OF THE CREDIT UNION HAVE THE AUTHORITY TO ELECT THE MEMBERS OF THE BOARD OF DIRECTORS FOR THREE-YEAR TERMS ON A ROTATING BASIS. CANDIDATES ARE ELECTED BY A SIMPLE PLURALITY VOTE. THE BOARD OF DIRECTORS APPOINT VOLUNTEERS TO SERVE ON THE SUPERVISORY COMMITTEE, WHICH IS VESTED WITH MONITORING SAFETY AND SOUNDSHIP OF THE ORGANIZATION. IF DEEMED APPROPRIATE, THE SUPERVISORY COMMITTEE CAN SUSPEND BOARD MEMBERS AND CAN CALL A SPECIAL MEETING OF THE MEMBERSHIP TO EVALUATE THE ISSUE AND VOTE TO EITHER DISMISS OR REINSTATE THE BOARD MEMBER. | |
| FORM 990, PART VI, SECTION A, LINE 7B | CHANGES TO THE GOVERNING DOCUMENTS (BYLAWS AND CERTIFICATE OF ORGANIZATION) MUST BE APPROVED BY THE MEMBER-OWNERS AFTER THEY HAVE BEEN APPROVED BY THE BOARD OF DIRECTORS AND THE REGULATORY AGENCY. APPROVAL OCCURS WHEN AT LEAST 50% OF THE MEMBER-OWNERS VOTE TO APPROVE. | |
| FORM 990, PART VI, SECTION B, LINE 11 | PRIOR TO BEING FILED WITH THE IRS, A COPY OF THE IRS FORM 990 AND RELATED SCHEDULES ARE REVIEWED BY THE PRESIDENT/CEO, INCLUDING A CONFIRMATION OF THE ACCURACY OF EVERY ANSWER AND OVERSIGHT OF APPROPRIATE CHANGES. UPON COMPLETION OF THE PRESIDENT'S REVIEW, THE FORMS ARE REVIEWED AND VOTED ON AT A BOARD MEETING PRIOR TO SUBMITTAL TO THE IRS. | |
| FORM 990, PART VI, SECTION B, LINE 12C | BOARD MEMBERS AND OFFICERS ANNUALLY RECEIVE A CONFLICT OF INTEREST POLICY AND SIGN/DATE THAT THEY AGREE AND UNDERSTAND THE CU'S POLICY. | |
| FORM 990, PART VI, SECTION B, LINE 15 | HRN PERFORMANCE SOLUTIONS, AN OUTSIDE CONSULTANT, PERFORMS A COMPENSATION REVIEW FOR ALL POSITIONS IN THE CREDIT UNION EACH YEAR AND COMPARES THE CREDIT UNION TO THE MARKET PLACE. THIS WAS COMPLETED FOR ALL POSITIONS IN 2011. | |
| FORM 990, PART VI, SECTION C, LINE 19 | FINANCIAL STATEMENTS ARE POSTED IN THE LOBBY OF THE CREDIT UNION. | |
| FORM 990, PART XI, LINE 5: | NET UNREALIZED GAINS ON INVESTMENTS: 30,156. SFAS 158 IMPLEMENTATION RELATED TO DEFINED BENEFIT PLAN -1,314,477. RECLASSIFICATION FOR GAINS INCLUDED IN NET INCOME -122,054. TOTAL TO FORM 990, PART XI, LINE 5: -1,406,375. | CHANGES IN NET ASSETS OR FUND BALANCES: |
| FORM 990, PART XII, LINE 2C: | THE PROCESS FOR THE COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF THE CREDIT UNION'S FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT HAS NOT CHANGED FROM THE PRIOR YEAR. |
Schedule R IRS990ScheduleR
Form990 Schedule R Part II Form990ScheduleRPartII (2 entries)
| Address Line1AddressUS/AddressLine1 | CityAddressUS/City | StateAddressUS/State | ZIP CodeAddressUS/ZIPCode | EINEIN | Primary ActivitiesPrimaryActivities | Legal Domicile StateLegalDomicileState | Exempt Code SectionExemptCodeSection | Public Charity StatusPublicCharityStatus | Business Name Line1DirectControllingEntityName/BusinessNameLine1 | Controlled OrgControlledOrg |
|---|---|---|---|---|---|---|---|---|---|---|
| PCU COMMUNITY FOUNDATION | ||||||||||
| 8499 TAMARACK RD | WOODBURY | MN | 55125 | 205065518 | SUPP0RT OF LOCAL EDUCATION INITIATIVES | MN | 501(C)(3) | LINE 7 | ST PAUL POSTAL EMPLOYEES CREDIT UNION | 0 |
| PCU SCHOLARSHIP FUND | ||||||||||
| 8499 TAMARACK RD | WOODBURY | MN | 55125 | 205067754 | SUPPORT AND ENCOURAGEMENT OF HIGHER EDUCATION | MN | 501(C)(3) | LINE 7 | ST PAUL POSTAL EMPLOYEES CREDIT UNION | 0 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Ann Rents Royalties | 0 | ReceiptOfIntAnnRentsRoyalties |
| Gift Grant Or Cap Contr To Other Org | 1 | GiftGrantOrCapContrToOtherOrg |
| Gift Grant Or Cap Contr Fr Other Org | 0 | GiftGrantOrCapContrFrOtherOrg |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrg |
| Loans Or Guarantees From Other Org | 0 | LoansOrGuaranteesFromOtherOrg |
| Sale Of Assets To Other Org | 0 | SaleOfAssetsToOtherOrg |
| Purchase Of Assets From Other Org | 0 | PurchaseOfAssetsFromOtherOrg |
| Exchange Of Assets | 0 | ExchangeOfAssets |
| Rental Of Facilities To Other Orgs | 0 | RentalOfFacilitiesToOtherOrgs |
| Rental Of Facilities Fr Other Orgs | 0 | RentalOfFacilitiesFrOtherOrgs |
| Perform Of Services For Other Orgs | 1 | PerformOfServicesForOtherOrgs |
| Perform Of Services By Other Orgs | 0 | PerformOfServicesByOtherOrgs |
| Sharing Of Facilities | 1 | SharingOfFacilities |
| Sharing Of Paid Employees | 1 | SharingOfPaidEmployees |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrg |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrg |
| Other Transfer To Other Org | 0 | OtherTransferToOtherOrg |
| Other Transfer From Other Org | 0 | OtherTransferFromOtherOrg |
Transactions Related Orgs Table TransactionsRelatedOrgsTable
Name Of Other Organization NameOfOtherOrganization
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | NO TRANSACTIONS OVER 50000 | BusinessNameLine1 |