Nonprofit · EIN 41-0800286
BRAINERD B N CREDIT UNION
Tax-exempt · BRAINERD, MN 56401
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $5,938,765 | $5,103,976 | $834,789 | $122,550,331 | $109,093,329 | $13,457,002 |
| December 31, 2024 | 990 | $5,627,154 | $4,758,672 | $868,482 | $110,482,179 | $97,859,966 | $12,622,213 |
| December 31, 2023 | 990 | $4,499,777 | $3,517,290 | $982,487 | $103,465,347 | $91,711,616 | $11,753,731 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $3,511,290
- Investment income
- $2,427,475
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Benefits paid to members
- $2,274,019
- Compensation of officers, directors and key employees
- $437,085
- Other salaries and wages
- $653,768
- Salaries, compensation and benefits (total)
- $1,562,666
- Professional fundraising fees
- $0
- Legal fees
- $32,154
- Accounting fees
- $12,681
- Occupancy
- $136,574
- Travel
- $3,511
- Depreciation
- $54,907
- Program services (functional)
- $2,606,339
- Management and general (functional)
- $2,497,637
Balance sheet and other
- Total assets, start of year
- $110,482,179
- Total assets, end of year
- $122,550,331
- Total liabilities, end of year
- $109,093,329
- Net assets, end of year
- $13,457,002
- Land, buildings and equipment
- $1,145,207
- Gross unrelated business income
- $1,750
- Gross receipts
- $5,938,765
- Employees
- 27
- Year formed
- 1941
- State of legal domicile
- MN
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| DAVID LARSON | CHIEF FIN'L Officer | 45 | $133,495 | $24,614 |
| KAYCIE HOFMANN | PRESIDENT/CE Officer | 45 | $118,210 | $18,186 |
| CINDY STUNEK | CHIEF OPER O Officer | 45 | $87,498 | $40,719 |
| JESSIE LECY | EXEC. SECR. Officer | 45 | $43,793 | $43,858 |
| SHYLO VREDENBURG | VP - MEMBER Officer | 45 | $46,950 | $18,973 |
| ANDREW LARSON | DIR-CHAIRMAN Trustee or director | 1 | $1,388 | $0 |
| DYLAN LEE | DIRECTOR Trustee or director | 1 | $1,125 | $0 |
| KELLY BROWN | DIR-V. CHAIR Trustee or director | 1 | $1,088 | $0 |
| RHONDA SANDELL | DIRECTOR Trustee or director | 1 | $1,025 | $0 |
| STACY CAUGHEY | DIRECTOR Trustee or director | 1 | $975 | $0 |
| LOIS BOURASSA | DIRECTOR Trustee or director | 1 | $950 | $0 |
| BARBARA BIHLER | DIRECTOR Trustee or director | 1 | $588 | $0 |
990 for the year ended December 31, 2024: 12 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| DAVID LARSON | CHIEF FIN'L Officer | 45 | $126,378 | $24,157 |
| KAYCIE HOFMANN | TREASURER Officer | 45 | $112,724 | $16,960 |
| CINDY STUNEK | ASST. TREAS. Officer | 45 | $80,034 | $38,744 |
| CRYSTAL BAHMA | ASST. TREAS. Officer | 45 | $66,061 | $33,017 |
| JESSIE LECY | EXEC. SECR. Officer | 45 | $41,666 | $37,744 |
| RHONDA SANDELL | DIRECTOR Trustee or director | 1 | $1,113 | $0 |
| LOIS BOURASSA | DIRECTOR Trustee or director | 1 | $1,087 | $0 |
| KELLY BROWN | DIR-V. CHAIR Trustee or director | 1 | $1,019 | $0 |
| STACY CAUGHEY | DIRECTOR Trustee or director | 1 | $813 | $0 |
| BRENDA WHIRLEY | DIRECTOR Trustee or director | 1 | $806 | $0 |
| ANDREW LARSON | DIR-CHAIRMAN Trustee or director | 1 | $656 | $0 |
| JENNIFER KIFFMEYER | DIRECTOR Trustee or director | 1 | $37 | $0 |
990 for the year ended December 31, 2023: 12 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| DAVID LARSON | CHIEF FIN'L Officer | 45 | $126,132 | $27,063 |
| KAYCIE HOFMANN | TREASURER Officer | 45 | $111,200 | $20,039 |
| CINDY STUNEK | ASST. TREAS. Officer | 45 | $81,862 | $38,426 |
| CRYSTAL BAHMA | ASST. TREAS. Officer | 45 | $66,606 | $32,003 |
| JESSIE LECY | EXEC. SECR. Officer | 45 | $41,190 | $33,077 |
| LOIS BOURASSA | DIRECTOR Trustee or director | 1 | $975 | $0 |
| RHONDA SANDELL | DIRECTOR Trustee or director | 1 | $963 | $0 |
| KELLY BROWN | DIR-V. CHAIR Trustee or director | 1 | $919 | $0 |
| STACY CAUGHEY | DIRECTOR Trustee or director | 1 | $906 | $0 |
| BRENDA WHIRLEY | DIRECTOR Trustee or director | 1 | $731 | $0 |
| ANDREW LARSON | DIR-CHAIRMAN Trustee or director | 1 | $275 | $0 |
| JENNIFER KIFFMEYER | DIRECTOR Trustee or director | 1 | $269 | $0 |
Address and contacts
- Address (IRS master file)
- 804 LAUREL STREET, BRAINERD, MN 56401-3772
- Principal officer (990 for 2025)
- KAYCIE HOFMANN, 804 LAUREL STREET, BRAINERD, MN 56401
- Signed the 990
- TRICIA FINK, CHIEF FIN'L OFFICER
- Phone
- (218) 829-9065
- Website
- WWW.BBNCU.ORG
- Return prepared by
- KLB ADVISORS LLC
Mission
WE DEDICATE ALL OUR EFFORTS TO PROVIDING MEMBERS THE BEST FINANCIAL PRODUCTS AND SERVICES AVAILABLE WHILE MAINTAINING FINANCIAL STABILITY.
Program accomplishments
- DIVIDENDS ON SAVINGS DEPOSITS PAID TO OUR MEMBERS ON A QUARTERLY BASISExpenses $2,250,123
- DEBIT CARD EXPENSES. EXPENSES RELATED TO PROVIDING DEBIT CARDS FOR MEMBERS. 6,688 MEMBERS HAVE THIS SERVICE AVAILABLE TO THEM AS OF DECEMBER 31, 2025.Expenses $249,628
- LIFE INSURANCE FOR MEMBERS ON SHARE ACCOUNTS. THE LIFE INSURANCE PREMIUMS ARE PAID FOR BY THE CREDIT UNION. 6,688 MEMBERS HAD THIS SERVICE AVAILABLE TO THEM AS OF DECEMBER 31, 2025.Expenses $23,896
- - LOAN SERVICING (EXPENSES 55,593) EXPENSES RELATED TO PROVIDING LOANS TO MEMBERS. - CORPORATE CREDIT UNION EXPENSES (EXPENSES 18,211) EXPENSES RELATED TO PROVIDING FINANCIAL SERVICE TO MEMBERS SUCH AS WIRING FUNDS, CASHING CHECKS, AND ACH TRANSACTIONS. - ANNUAL MEETING (EXPENSES 8,888) EXPENSES RELATED TO ANNUAL MEETING TO VOTE FOR BOARD OF DIRECTORS AND COMMITTEE MEMBERS AND PRESENT THE PRIOR YEAR FINANCIAL RESULTS TO MEMBERS.Expenses $82,692
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | 990 on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 41-0800286
- Tax-exempt status
- 501(c)(14): State-chartered credit union
- Donations deductible
- No
- Exempt since
- 1944
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Group exemption
- 0708: CREDIT UNIONS IN THE STATE OF MINNESOTA
- Assets (IRS master file)
- $122,550,331
- Income (IRS master file)
- $5,938,765
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $5,938,765 | $5,103,976 | $122,550,331 | IRS |
| 990 | December 2024 | $5,627,154 | $4,758,672 | $110,482,179 | IRS |
| 990 | December 2023 | $4,499,777 | $3,517,290 | $103,465,347 | XML |
| 990 | December 2022 | $2,826,059 | $2,327,280 | $97,066,978 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2019 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 41-0800286).
Questions about BRAINERD B N CREDIT UNION
- What is the EIN of BRAINERD B N CREDIT UNION?
- The employer identification number (EIN) of BRAINERD B N CREDIT UNION is 41-0800286.
- Is BRAINERD B N CREDIT UNION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(14) since 1944.
- Are donations to BRAINERD B N CREDIT UNION tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does BRAINERD B N CREDIT UNION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of BRAINERD B N CREDIT UNION due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did BRAINERD B N CREDIT UNION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2025.
- Who is the principal officer of BRAINERD B N CREDIT UNION?
- The 990 for the year ended December 31, 2025 names KAYCIE HOFMANN.
- Who are the officers and directors of BRAINERD B N CREDIT UNION?
- The 990 for the year ended December 31, 2025 lists 12 people; 12 received compensation from the organization, the highest $133,495 (DAVID LARSON, CHIEF FIN'L).
- How much revenue does BRAINERD B N CREDIT UNION have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $5,938,765, expenses of $5,103,976 and total assets of $122,550,331 at year end.
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