INDUSTRIAL EMPLOYEES CREDIT UNION

EIN: 426102809

Centerville, IA

Total Revenue
$512,663
Total Expenses
$406,070
Total Assets
$8,851,398
Net Assets
$4,355
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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
1967
Legal Domicile
IA
Principal Officer
SHONA VARESE
Phone
6414377109
Tax Period
2025-01-01 to 2025-12-31

INDUSTRIAL EMPLOYEES CREDIT UNION, founded in 1967, is a small nonprofit that reported $513K in total revenue in fiscal year 2025. The organization ran a surplus of $107K, a strong 21% operating margin.

Mission

Mission To 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 member to use and control their own money

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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 (2025)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $87,585
Investment Income $425,078
Other Revenue $0
TOTAL REVENUE $512,663

Expense Breakdown

Grants Paid $0
Salaries & Benefits $152,082
Fundraising Expenses $0
Program Expenses $406,070
Other Expenses $253,988
TOTAL EXPENSES $406,070

Year-over-Year Comparison

2025 2024 Change
Revenue $512,663 $494,132 +0.0%
Expenses $406,070 $373,976 +0.1%
Net Income $106,593 $120,156 -0.1%
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
11
Independent Members
12
Employees
4
Volunteers
N/A

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
4
$0
Total Directors
10
$0
Key Employees
2
$101,487
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
SHONA VARESE MANAGER 0.0
Key Emp
$51,824 $0 $51,824
MISTY O'HAIR ASSISTANT MANAGER 0.0
Key Emp
$49,663 $0 $49,663
WAYNE DEVORE CHAIRPERSON 1.0
Officer Director
$0 $0 $0
DENNIE FENTON VICE CHAIRMAN 1.0
Officer Director
$0 $0 $0
DON KANSELAAR PRESIDENT/TREASURER 1.0
Officer Director
$0 $0 $0
JAMES MCDANNALD SECRETARY 1.0
Officer Director
$0 $0 $0
JAMES THOMAS CHARIPERSON AUDIT COMMITTEE 1.0
Director
$0 $0 $0
RANDY BERRY AUDIT COMMITTEE 1.0
Director
$0 $0 $0
PAT SNIDER AUDIT COMMITTEE 1.0
Director
$0 $0 $0
DENNIE FENTON CHAIRPERSON CREDIT COMMITTEE 1.0
Director
$0 $0 $0
DON KANSELAAR CREDIT COMMITTEE 0.0
Director
$0 $0 $0
JAMES MCDANNALD CREDIT COMMITTEE 0.0
Director
$0 $0 $0
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
2025 $512,663 $406,070 $8,851,398 $106,593
2024 $494,132 $373,976 $9,207,222 $120,156
2023 $463,761 $357,220 $9,267,531 $106,541
2022 $412,880 $328,223 $10,552,521 $84,657
2021 $384,550 $295,790 $9,736,744 $88,760
2020 $362,460 $324,540 $9,755,965 $37,920
2019 $388,613 $324,528 $8,347,225 $64,085
2018 $391,321 $299,718 $8,736,138 $91,603
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