MINNCO CREDIT UNION Charity Report

Public IRS 990 nonprofit record

MINNCO CREDIT UNION

EIN 41-0174775 · Education (B)

What they do

State Chartered Credit Union to Promote Thrift and to Provide Source of Credit for 33,860 Members.

Before you give

Should I give to this charity?

Easy charity check

Look at where the money went

Of every $100 spent, about $57.10 was reported for mission work. Use the spending picture below and ask what results that work produced.

Plain answer: A tax form cannot prove that a charity is doing good. It can show how the charity says it spent its money—and point out questions you should ask.

Basic facts we verified

IRS warning checkNo IRS revocation warning appears in this data.

Money report from 2024The charity has a recent tax report to read.

They explain their jobThe charity tells us what it is trying to do.

They name their leaders12 people are listed in the latest report.

You can reach themThey list contact information, so you can ask questions.

Money made simple

$57.10of every $100 spent was reported for mission workThe IRS calls this “program services.”

$89.32spent for every $100 of revenueRevenue covered expenses this year.

$42.90of every $100 spent was reported for management and office costsThis number alone does not tell us how much good they did.

$21.74in assets for every $1 spent this yearSome assets cannot be spent right away.

0.0%of its money came from giftsOther money may come from services or investments.

Ask these three easy questions

Who did you help? Ask for a recent story or report that shows real results.
What will my money do? Ask exactly what your gift will pay for.
Is this really the charity? Give only through its official website or confirmed phone number.

Pay context: The highest compensation shown in this filing is $506,439 for DOUG HALLSTROM (PRESIDENT). Compare pay with organizations of similar size and complexity.

Bottom line: Do not decide from a name, mission statement, or tax status alone. Look at where the money went, then ask what changed, who was helped, and what your gift will do. YouCanGiveBack does not endorse or grade organizations.

Money

Financial picture

Tax year 2024

A plain-language look at the latest Form 990 figures available. These numbers help you ask better questions; they do not, by themselves, rate whether a charity is good or bad.

$100spent

Where each $100 went

These are the charity’s reported Form 990 spending categories.

Mission workProgram services$57.10

ManagementOffice and general costs$42.90

FundraisingAsking for donations$0.00

Has the pattern changed?

Each bar shows the share of annual spending reported for mission work, management, and fundraising.

202157.1% mission

202062.3% mission

201958.8% mission

201859.9% mission

201774.5% mission

Money in and money out

Revenue$26,953,300

Expenses$24,074,295

Annual surplus $2,879,005 Revenue was higher than expenses for this filing year.

Reported spending amounts

Mission work means the Form 990 category called program services. These are reported accounting categories—not an independent measurement of results.

Mission work (program services)$6,909,554 · 28.7% of expenses

Management and office costs$5,199,880 · 21.6% of expenses

See all reported dollar amounts

Revenue$26,953,300

Expenses$24,074,295

Assets$523,432,126

Income$29,420,319

Contributions$2,000

Mission work (program services)$6,909,554

Accounting fees$124,942

People

Leadership and board

Tax year 2024

Names, titles, time, and compensation below are reported by the organization on its Form 990.

People reported as paid

Person and titleCompensation

DOUG HALLSTROMPRESIDENT · 40 hrs/week $506,439Base $454,920 · Other $51,519

JOHN WENDLANDEVP ADMINISTRATION AND GENERAL COUNSEL · 40 hrs/week $241,779Base $195,932 · Other $45,847

TODD SANDERSSVP LENDING · 40 hrs/week $180,932Base $149,093 · Other $31,839

RICK BORCHARDTSVP FINANCE · 40 hrs/week $179,165Base $152,875 · Other $26,290

ANITA QUAGLIASVP MEMBER EXPERIENCE · 40 hrs/week $167,829Base $136,914 · Other $30,915

KIRSTIN BRUSSSVP OPERATIONS · 40 hrs/week $164,349Base $150,091 · Other $14,258

JERRY SCHLEICHERCHAIRPERSON · 1 hrs/week $573

RICHARD SODERBERGBOARD MEMBER · 1 hrs/week $463

LAURIE GARNASBOARD MEMBER · 1 hrs/week $404

KORY ERICKSONBOARD MEMBER · 1 hrs/week $379

DAVE MAURERBOARD MEMBER · 1 hrs/week $354

WAYNE ANDERSONBOARD MEMBER · 1 hrs/week $266

Compensation alone does not tell whether pay is reasonable. Consider the charity’s size, work, location, and results.

See everyone listed on the board or leadership roster (12)

DOUG HALLSTROMPRESIDENT

JOHN WENDLANDEVP ADMINISTRATION AND GENERAL COUNSEL

TODD SANDERSSVP LENDING

RICK BORCHARDTSVP FINANCE

ANITA QUAGLIASVP MEMBER EXPERIENCE

KIRSTIN BRUSSSVP OPERATIONS

JERRY SCHLEICHERCHAIRPERSON

RICHARD SODERBERGBOARD MEMBER

LAURIE GARNASBOARD MEMBER

KORY ERICKSONBOARD MEMBER

DAVE MAURERBOARD MEMBER

WAYNE ANDERSONBOARD MEMBER

About this charity

Recognized since: January 1944
Location: 2215 3rd Ave NE, Cambridge, MN 550081528
County: Isanti
In care of: Rick Borchardt
Primary officer: Rick Borchardt, Senior Vice President - Finance

How to reach them

WebsiteVisit the charity’s website Phone(763) 689-1071

Filing and classification

Latest tax year: 2024
Tax period began: January 1, 2024
Return type: 990
NTEE classification: Education (B)
IRS tax category: Education