Skip to main content
IRS-authorized e-file provider · not the IRS

Nonprofit · EIN 41-1563619

LEADING EDGE CREDIT UNION

Tax-exempt · WORTHINGTON, MN 56187

Financials

$8.4M$8.6M2023$9.3M$9.2M2024$9.9M$9.5M2025
Revenue Expenses · by fiscal year end
Financials of LEADING EDGE CREDIT UNION by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2025990$9,894,174$9,491,129$403,045$138,807,045$126,477,779$12,329,266
December 31, 2024990$9,335,392$9,207,876$127,516$142,881,801$131,254,338$11,627,463
December 31, 2023990$8,422,524$8,561,409-$138,885$145,079,805$133,965,529$11,114,276
Financial details: 990 for the year ended December 31, 2025

Revenue

Contributions, gifts and grants
$0
Program service revenue
$8,977,775
Investment income
$916,399
Other revenue
$0

Expenses

Grants and similar amounts paid
$0
Benefits paid to members
$2,676,476
Compensation of officers, directors and key employees
$685,436
Other salaries and wages
$1,796,987
Salaries, compensation and benefits (total)
$2,879,575
Professional fundraising fees
$0
Legal fees
$3,720
Accounting fees
$60,779
Occupancy
$405,588
Travel
$87,936
Depreciation
$199,688

Balance sheet and other

Total assets, start of year
$142,881,801
Total assets, end of year
$138,807,045
Total liabilities, end of year
$126,477,779
Net assets, end of year
$12,329,266
Land, buildings and equipment
$4,936,374
Publicly traded securities
$5,230,641
Gross unrelated business income
$9,656
Gross receipts
$9,894,174
Employees
58
Volunteers
8
Year formed
1986
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.

NameTitleHours / weekCompensationOther / benefits
CHAD MERRIHEWCEO & PRESIDENT
Officer
45$257,032$33,781
DONNA TIMSCFO
Officer
45$124,223$19,741
ANGELA HENNENCIO
Officer
45$103,221$29,705
LAURA HONKENCIO
Officer
45$107,786$9,947
CHERYL JANSSENSECRETARY
Trustee or director, Officer
3$0$0
PHYLLIS BRUNKDIRECTOR
Trustee or director
3$0$0
RANDY DONAHUECHAIRMAN
Trustee or director, Officer
4$0$0
NELSON BONILLADIRECTOR
Trustee or director
2$0$0
MIKE LOOSEBROCKDIRECTOR
Trustee or director
3$0$0
990 for the year ended December 31, 2024: 9 people
NameTitleHours / weekCompensationOther / benefits
CHAD MERRIHEWCEO & PRESIDENT
Officer
45$223,914$29,116
DONNA TIMSCFO
Officer
45$131,188$16,828
LAURA HONKENCIO
Officer
45$110,449$8,625
ANGELA HENNENCIO
Officer
45$50,613$10,774
PHYLLIS BRUNKSECRETARY & TREASURER
Trustee or director, Officer
3$0$0
CHERYL JANSSENBOARD MEMBER
Trustee or director
3$0$0
MIKE LOOSEBROCKVICE CHAIRMAN
Trustee or director, Officer
3$0$0
RANDY DONAHUECHAIRMAN
Trustee or director, Officer
4$0$0
NELSON BONILLABOARD MEMBER
Trustee or director
2$0$0
990 for the year ended December 31, 2023: 12 people
NameTitleHours / weekCompensationOther / benefits
CHAD MERRIHEWCEO & PRESIDENT
Officer
45$222,310$32,913
DONNA TIMSCHRO
Officer
45$118,938$20,265
LAURA HONKENCIO
Officer
45$105,412$12,702
MELISSA GEHLCHIEF MARKETING OFFICER
Officer
45$86,513$11,427
RYAN FRANCISCFO
Officer
45$65,649$7,641
BRANDIE SWENSONCFO
Officer
45$35,947$5,038
PHYLLIS BRUNKSECRETARY & TREASURER
Trustee or director, Officer
3$1,192$0
CHERYL JANSSENBOARD MEMBER
Trustee or director
3$1,139$0
MIKE LOOSEBROCKVICE CHAIRMAN
Trustee or director, Officer
3$1,006$0
RANDY DONAHUECHAIRMAN
Trustee or director, Officer
4$678$0
VORIS SPITTLEBOARD MEMBER
Trustee or director
2$312$0
THOMAS MARTINBOARD MEMBER
Trustee or director
2$0$0

Address and contacts

Address (IRS master file)
1127 RYANS RD, WORTHINGTON, MN 56187-1765
Principal officer (990 for 2025)
CHAD MERRIHEW, 1127 RYANS ROAD, WORTHINGTON, MN 56187
Signed the 990
CHAD MERRIHEW, CEO
Phone
(507) 775-2802
Return prepared by
CLIFTONLARSONALLEN LLP

Mission

WE ARE THE TRUSTED FINANCIAL COOPERATIVE FOCUSED ON PROVIDING EXCEPTIONAL PRODUCTS AND SERVICES TO BENEFIT THE FINANCIAL GROWTH AND FUTURE SUCCESS OF OUR COMMUNITIES AND MEMBERS.

990 for the year ended December 31, 2025

Program accomplishments

  • LOANS - CURRENTLY HAVE 6,706 LOANS OF $107,676,486 TO OUR 11,641 MEMBERS
  • DEPOSITS - CURRENTLY HAVE $121,744,779 IN DEPOSITS HELD BY OUR 11,614 MEMBERS

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 yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026990 on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
41-1563619
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
Assets (IRS master file)
$138,807,045
Income (IRS master file)
$9,894,174

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2025$9,894,174$9,491,129$138,807,045XML
990December 2024$9,335,392$9,207,876$142,881,801XML
990December 2023$8,422,524$8,561,409$145,079,805XML
990December 2022$7,569,554$7,236,877$149,217,727IRS
990December 2021$7,366,161$7,278,149$143,432,418IRS
990December 2020–––IRS
990December 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 41-1563619).

Questions about LEADING EDGE CREDIT UNION

What is the EIN of LEADING EDGE CREDIT UNION?
The employer identification number (EIN) of LEADING EDGE CREDIT UNION is 41-1563619.
Is LEADING EDGE CREDIT UNION tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(14) since 1944.
Are donations to LEADING EDGE CREDIT UNION tax-deductible?
No. The IRS master file says contributions to it are not deductible.
Which annual return does LEADING EDGE 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 LEADING EDGE 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 LEADING EDGE 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 LEADING EDGE CREDIT UNION?
The 990 for the year ended December 31, 2025 names CHAD MERRIHEW.
Who are the officers and directors of LEADING EDGE CREDIT UNION?
The 990 for the year ended December 31, 2025 lists 9 people; 4 received compensation from the organization, the highest $257,032 (CHAD MERRIHEW, CEO & PRESIDENT).
How much revenue does LEADING EDGE CREDIT UNION have?
On its 990 for the year ended December 31, 2025 it reported revenue of $9,894,174, expenses of $9,491,129 and total assets of $138,807,045 at year end.

Other nonprofits in WORTHINGTON

All nonprofits in WORTHINGTON · Minnesota