GAS & ELECTRIC EMPLOYEES CREDIT UNION

EIN: 420269010

Mason City, IA

Total Revenue
$171,547
Total Expenses
$122,929
Total Assets
$4,567,203
Net Assets
$1,977,823
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
1932
Legal Domicile
IA
Principal Officer
Angela Sorenson
Phone
6419031714
Tax Period
2023-01-01 to 2023-12-31

GAS & ELECTRIC EMPLOYEES CREDIT UNION, founded in 1932, is a small nonprofit that reported $172K in total revenue in fiscal year 2023. Revenue surged 23% from the prior year, signaling strong growth momentum. The organization ran a surplus of $49K, a strong 28% operating margin.

Mission

Provide financial services to qualified members.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $136,532
Investment Income $33,844
Other Revenue $1,171
TOTAL REVENUE $171,547

Expense Breakdown

Grants Paid $0
Salaries & Benefits $63,296
Fundraising Expenses $0
Program Expenses $122,929
Other Expenses $38,473
TOTAL EXPENSES $122,929

Year-over-Year Comparison

2023 2022 Change
Revenue $171,547 $139,400 +0.2%
Expenses $122,929 $109,527 +0.1%
Net Income $48,618 $29,873 +0.6%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
7
Independent Members
6
Employees
3
Volunteers
6

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
1
$41,700
Total Directors
0
$0
Key Employees
3
$57,251
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Angela Sorenson Manager 20
Officer Key Emp Highest
$41,700 $0 $41,700
Jean Ditter MSR 3
Key Emp
$9,347 $0 $9,347
Jeanette Cink MSR 6
Key Emp
$6,204 $0 $6,204
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $171,547 $122,929 $4,567,203 $48,618
2022 $139,400 $109,527 $4,953,975 $29,873
2021 $150,873 $111,654 $5,284,998 $39,219
2020 $176,500 $113,511 $5,106,188 $62,989
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