2024-05-06T10:59:13-05:00 2023-12-31 410746749 CLIFTONLARSONALLEN LLP 2689 COMMERCE DRIVE NW SUITE 201 ROCHESTER MN 55901 990 2023-01-01 411380160 UPPER MIDWEST AUTOMATED CLEARING HOUSE ASSOCIATION INC UPPE 7635497000 7100 NORTHLAND CIRCLE 402 BROOKLYN PARK MN 55428 ANGI FARREN PRESIDENT & CEO 7635497000 2024-05-03 1 ANGI FARREN 999009999 0 KATHERINE LUTZKE CPA P01760889 5072802300 2024-05-03 3 AAL1 IAL1 2023 2023-04-26 12:10:37Z ANGI FARREN 7100 NORTHLAND CIRCLE 402 BROOKLYN PARK MN 55428 2476766 0 X WWW.UMACHA.ORG X 1974 MN BRING CLARITY TO COMPLEX RULES AND REGULATIONS THROUGH EDUCATION AND COMPLIANCE SERVICES. 14 14 16 29 0 0 0 0 2329537 2450787 4978 18577 9666 7402 2344181 2476766 0 0 0 0 1620875 1785846 0 0 0 836672 797671 2457547 2583517 -113366 -106751 1795616 1676029 206701 193865 1588915 1482164 IT IS OUR MISSION TO BRING CLARITY TO COMPLEX RULES AND REGULATIONS BY DIGGING IN TO UNDERSTAND THE NEEDS OF OUR MEMBERS AND CLIENTS AND PROVIDE LEARNING OPPORTUNITIES AND CONSULTATIVE PACKAGES THAT BEST MEET THOSE NEEDS. 0 0 UMACHA PROVIDES EDUCATIONAL WORKSHOPS, WEBINARS, SYMPOSIUMS, AND CONFERENCES TO MEMBERS AND OTHER INDUSTRY STAKEHOLDERS ON ELECTRONIC PAYMENTS WITH A FOCUS ON THE ACH NETWORK. THE FACE-TO-FACE SESSIONS ARE PRIMARILY IN THE UPPER MIDWEST, WHILE THE VIRTUAL LEARNING OPPORTUNITIES ARE OPEN TO ANYONE INTERESTED IN THE TOPIC. THE ORGANIZATION PARTICIPATED IN 156 CONFERENCES, SEMINARS AND WEBINARS DURING 2023. UMACHA OFFERS PUBLICATIONS AND EDUCATIONAL MATERIALS TO ASSIST MEMBER AND NON-MEMBER ORGANIZATIONS IN THE AREAS OF ACH AND ELECTRONIC PAYMENTS.THE ORGANIZATION SOLD A TOTAL OF 5,236 PUBLICATIONS DURING 2023. UMACHA PERFORMS COMPLIANCE SERVICES FOR MEMBERS AND INDUSTRY STAKEHOLDERS, SPECIALIZING IN VARIOUS ELECTRONIC PAYMENT METHODS WITH A STRONG FOCUS ON THE ACH NETWORK. THE ORGANIZATION WAS INVOLVED IN 254 AUDITS AND 102 RISK ASSESSMENTS DURING 2023. 0 0 0 1 0 0 0 0 0 1 0 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 10 0 16 1 0 0 0 0 0 0 0 0 X 14 14 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 MN X ANGI FARREN 7635497000 7100 NORTHLAND CIRCLE N SUITE 402 BROOKLYN PARK MN 55428 DENNIS FETERL BOARD CHAIR 2.00 X X 0 0 0 CHRISTOPHER GERMANN VICE CHAIR 2.00 X X 0 0 0 VIKRAM ISRANI TREASURER 2.00 X X 0 0 0 LAURA BURR SECRETARY 2.00 X X 0 0 0 MICHAEL BILSKI DIRECTOR - AT LARGE 2.00 X 0 0 0 BILL FUCHS DIRECTOR 2.00 X 0 0 0 JAMES HAUG DIRECTOR 2.00 X 0 0 0 CHRISTA DAMM DIRECTOR 2.00 X 0 0 0 SHARON VOSS DIRECTOR 2.00 X 0 0 0 MELISSA WAIT DIRECTOR 2.00 X 0 0 0 MICHELLE WALSTAD DIRECTOR 2.00 X 0 0 0 NICOLE CHARPENTER DIRECTOR 2.00 X 0 0 0 GREGORY RETTINGER DIRECTOR 2.00 X 0 0 0 LISA SALAZAR DIRECTOR 2.00 X 0 0 0 ANGI FARREN PRESIDENT/CEO 40.00 X 207163 0 44774 JENNIFER MILLER SENIOR DIRECTOR OF SERVICE 40.00 X 168574 0 14896 DANYELL POZORSKI SENIOR DIRECTOR OF OPERATIONS 40.00 X 113463 0 20237 KIMBERLY ELLIS DIRECTOR OF EDUCATION SERVICES 40.00 X 103552 0 28394 592752 0 108301 4 0 1 0 0 MEMBERSHIP DUES 561499 1145707 1145707 COMPLIANCE SERVICES 541900 670487 670487 SEMINARS, EDUCATION & 611710 484577 484577 GUIDES, PUBLICATIONS & 611710 150016 150016 2450787 18577 18577 7172 7172 MISC INCOME 900099 230 230 230 2476766 2450787 0 25979 251937 1146101 92774 194771 100263 44234 5784 121648 49859 66571 13223 246386 27517 18076 NACHA EXPENSES 76699 MEMBER DEV. MATERIALS 70601 COMPLIANCE SERVICES 38150 PROCESSING FEES 12374 6549 2583517 209255 136234 1167342 1169060 125250 107507 66142 90092 216963 171200 68776 45763 158851 127373 1795616 1676029 28052 35231 18141 27684 160508 130950 206701 193865 X 1588915 1482164 1588915 1482164 1795616 1676029 -106751 0 X 0 1 X 1 0 0 1 0 216963 171200 45763 45763 RIGHT TO USE ASSETS 157390 ACCUMULATED AMORTIZATION - RIGHT TO USE ASSET -42772 RIGHT TO USE ASSET - FINANCING LEASE (COPIER) 21259 AMORTIZATION - RIGHT TO USE ASSET FINANCING -8504 127373 X 2476766 0 2476766 0 2476766 2583517 0 2583517 0 2583517 PART X, LINE 2: THE ASSOCIATION IS A TAX-EXEMPT CORPORATION AS DESCRIBED UNDER SECTION 501(C)(6) OF THE INTERNAL REVENUE CODE AND, GENERALLY, IS NOT SUBJECT TO FEDERAL AND STATE INCOME TAXES. HOWEVER, INCOME FROM CERTAIN ACTIVITIES NOT DIRECTLY RELATED TO THE ASSOCIATION'S TAX-EXEMPT PURPOSE IS SUBJECT TO TAXATION AS UNRELATED BUSINESS INCOME. THE ASSOCIATION HAS EVALUATED ITS TAX POSITIONS AND DETERMINED THAT IT HAS NO UNCERTAIN TAX POSITIONS AS OF DECEMBER 31, 2023 AND 2022. X X X X 0 0 0 ANGI FARREN PRESIDENT/CEO 186163 0 21000 0 0 0 18564 0 26210 0 251937 0 0 0 JENNIFER MILLER SENIOR DIRECTOR OF SERVICE 149574 0 19000 0 0 0 14896 0 0 0 183470 0 0 0 FORM 990, PART VI, SECTION A, LINE 1A THE BOARD OF DIRECTORS APPOINTS AN EXECUTIVE COMMITTEE, MADE UP OF NO MORE THAN FOUR (4) DIRECTORS. THE CHAIRPERSON, VICE CHAIRPERSON, TREASURER AND SECRETARY CONSTITUTE THE COMMITTEE. THE COMMITEE SHALL HAVE AND MAY EXERCISE THE AUTHORITY OF THE BOARD IN THE MANAGEMENT OF THE BUSINESS OF UMACHA. THE EXECUTIVE COMMITTEE SHALL ACT ONLY DURING INTERVALS BETWEEN MEETINGS OF THE BOARD AND SHALL BE SUBJECT AT ALL TIMES TO THE CONTROL AND DIRECTION OF THE BOARD. THREE MEMBERS OF THE EXECUTIVE COMMITTEE SHALL CONSTITUTE A QUORUM. ALL ACTIONS OF THE EXECUTIVE COMMITTEE MUST BE AFFIRMED BY THE BOARD OF DIRECTORS AT A REGULARLY SCHEDULED BOARD MEETING. FORM 990, PART VI, SECTION A, LINE 6 UMACHA IS A TRADE ORGANIZATION FOR THE BANKING INDUSTRY. MEMBERS ARE INSTITUTIONS USING ELECTRONIC PAYMENT SYSTEMS (ACH, REMOTE DEPOSIT, WIRES, ETC.). THE MEMBERS OF UMACHA SHALL BE QUALIFYING ORGANIZATIONS THAT HAVE APPLIED FOR MEMBERSHIP, BEEN ACCEPTED AS MEMBERS BY THE BOARD OF DIRECTORS, AND HAVE PAID DUES AND ASSESSMENTS IMPOSED BY THE BOARD OF DIRECTORS. QUALIFYING ORGANIZATIONS THAT ARE ELIGIBLE TO BE MEMBERS INCLUDE FINANCIAL INSTITUTIONS WHOSE ACCOUNTS ARE INSURED OR GUARANTEED BY THE FEDERAL/STATE GOVERNMENT. THE BOARD OF DIRECTORS MAY CHOOSE TO OFFER AFFILIATE MEMBERSHIP TO ENTITIES THAT SUPPORT USAGE OF THE AUTOMATED CLEARING HOUSE SYSTEM. THESE MEMBERS ARE ENTITLED TO THE USE OF SERVICES OFFERED BY UMACHA, BUT WILL HAVE NO VOTING RIGHTS. FORM 990, PART VI, SECTION A, LINE 7A THE BOARD OF DIRECTORS ARE ELECTED FROM THE MEMBERSHIP WITH EACH MEMBER GETTING ONE VOTE. FORM 990, PART VI, SECTION A, LINE 7B ALL GOVERNANCE DECISIONS ARE MADE BY THE BOARD OF DIRECTORS. ANY DECISIONS MADE BY THE EXECUTIVE COMMITTEE ARE APPROVED BY THE BOARD. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS SHARED WITH THE OFFICERS, REVIEWED BY THE FINANCE COMMITTEE AND SHARED WITH THE BOARD OF DIRECTORS PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBERS ARE REQUIRED TO REVIEW AND SIGN OFF ON THE CONFLICT OF INTEREST POLICY ANNUALLY. THE BOARD IS REMINDED THAT THE POLICY IS IN EFFECT AT EVERY MEETING. ALL BOARD DIRECTORS ARE COVERED IN THE BOD POLICY AND ALL EMPLOYEES ARE COVERED IN THE EMPLOYEE HANDBOOK. ANY POTENTIAL CONFLICTS WITHIN THE EMPLOYEE LISTING ARE REVIEWED BY THE PRESIDENT, ANY POTENTIAL CONFLICTS WITHIN THE BOARD DIRECTORS ARE REVIEWED BY THE CHAIRMAN. THE CHAIRMAN WILL DETERMINE TO 1) TAKE NO ACTION, (B) ASSURE THE FULL DISCLOSURE TO THE BOARD OF DIRECTORS AND OTHER INDIVIDUALS COVERED BY THIS POLICY, (C) ASK THE PERSON TO EXCUSE THEMSELVES FROM PARTICIPATION IN RELATED DISCUSSIONS OR DECISIONS WITHIN UMACHA, OR 4) ASK THE PERSON TO RESIGN. CONFLICTS WOULD ARISE IF A TRANSACTION WAS MADE FOR FINANCIAL GAIN, DOING BUSINESS WITH FAMILY MEMBERS, UNAPPROVED USE OF THE ORGANIZATION'S TIME/ASSETS, AND TRANSACTIONS WITH COMPETITORS. IF THE CONFLICT AROSE WITHIN THE EMPLOYEE LISTING, THE PRESIDENT WOULD APPROVE OR DENY THE CONFLICT. ANY CONFLICTS WOULD BE DOCUMENTED IN A MEMO TO CAPTURE THE SITUATION AND SAVED FOR FUTURE DOCUMENTATION. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR THE PRESIDENT IS APPROVED ANNUALLY BY THE COMPENSATION COMMITTEE. THE COMMITTEE KEEPS TRACK OF THE CONVERSATION IN MEETING NOTES AND AN ANNUAL SALARY TRACKING DOCUMENT. THE ASSOCIATION HAS A COMPENSATION STUDY COMPLETED EVERY 2-4 YEARS, THE LAST ONE BEING CONDUCTED IN 2022. THE STUDY IS USED TO DETERMINE ANNUAL SALARIES AND BENEFITS. THE STUDIES INCLUDE BOTH NATIONAL DATA, LOCAL DATA, AND INFORMATION FROM SIMILAR ASSOCIATIONS. UMACHA HIRES A HR CONSULTANT TO GATHER SALARY DATA AND GATHER SURVEY DATA FROM LOCAL ASSOCIATION AND NINE OTHER ASSOCIATIONS AROUND THE COUNTRY. THE HR CONSULTANT COMPARES ALL RESULTS AND PROVIDES A SUMMARY BROKEN DOWN BY JOB DESCRIPTIONS AND BY INDIVIDUAL EMPLOYEE. THIS SALARY APPROVAL PROCESS WAS LAST APPROVED IN 2023. FORM 990, PART VI, SECTION C, LINE 19 THE DOCUMENTS ARE MADE AVAILABLE TO ANY INDIVIDUAL OR ENTITY UPON WRITTEN REQUEST.