Nonprofit · EIN 42-0269010
GAS & ELECTRIC EMPLOYEES CREDIT UNION
Tax-exempt · MASON CITY, IA 50401
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $216,805 | $157,134 | $59,671 | $4,415,284 | $2,361,753 | $2,053,531 |
| December 31, 2023 | 990 | $171,547 | $122,929 | $48,618 | $4,567,203 | $2,589,380 | $1,977,823 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $172,081
- Investment income
- $39,468
- Other revenue
- $5,256
Expenses
- Grants and similar amounts paid
- $0
- Benefits paid to members
- $25,815
- Compensation of officers, directors and key employees
- $60,742
- Salaries, compensation and benefits (total)
- $72,259
- Professional fundraising fees
- $0
- Legal fees
- $391
- Accounting fees
- $3,409
- Occupancy
- $7,733
- Travel
- $3,321
- Program services (functional)
- $157,134
Balance sheet and other
- Total assets, start of year
- $4,567,203
- Total assets, end of year
- $4,415,284
- Total liabilities, end of year
- $2,361,753
- Net assets, end of year
- $2,053,531
- Gross receipts
- $216,805
- Employees
- 3
- Volunteers
- 6
- Year formed
- 1932
- State of legal domicile
- IA
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, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Angela Sorenson | Manager Highest-paid employee | 15 | $51,778 | $51,778 |
| Jean Ditter | MSR Key employee | 3 | $8,115 | $8,115 |
| Jeanette Cink | MSR Key employee | 5 | $6,399 | $6,399 |
990 for the year ended December 31, 2023: 3 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Angela Sorenson | Manager Officer, Key employee, Highest-paid employee | 20 | $41,700 |
| Jean Ditter | MSR Key employee | 3 | $9,347 |
| Jeanette Cink | MSR Key employee | 6 | $6,204 |
Address and contacts
- Address (IRS master file)
- 1602 S MONROE AVE, MASON CITY, IA 50401-5680
- Principal officer (990 for 2024)
- Angela Sorenson, 1602 S Monroe Ave, Mason City, IA 50401
- Signed the 990
- Angela Sorenson, Manager
- Phone
- (641) 903-1714
Mission
Provide financial services to qualified members.
Program accomplishments
- Provide financial services to qualified membersExpenses $157,134 · revenue $216,805
- Provide financial services to qualified 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 year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not 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
- 42-0269010
- Tax-exempt status
- 501(c)(14): State-chartered credit union
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $4,415,284
- Income (IRS master file)
- $216,805
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $216,805 | $157,134 | $4,415,284 | XML |
| 990 | December 2023 | $171,547 | $122,929 | $4,567,203 | XML |
| 990 | December 2022 | $139,400 | $109,527 | $4,953,975 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | 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 42-0269010).
Questions about GAS & ELECTRIC EMPLOYEES CREDIT UNION
- What is the EIN of GAS & ELECTRIC EMPLOYEES CREDIT UNION?
- The employer identification number (EIN) of GAS & ELECTRIC EMPLOYEES CREDIT UNION is 42-0269010.
- Is GAS & ELECTRIC EMPLOYEES CREDIT UNION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(14).
- Which annual return does GAS & ELECTRIC EMPLOYEES 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 GAS & ELECTRIC EMPLOYEES CREDIT UNION due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did GAS & ELECTRIC EMPLOYEES CREDIT UNION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of GAS & ELECTRIC EMPLOYEES CREDIT UNION?
- The 990 for the year ended December 31, 2024 names Angela Sorenson.
- Who are the officers and directors of GAS & ELECTRIC EMPLOYEES CREDIT UNION?
- The 990 for the year ended December 31, 2024 lists 3 people; 3 received compensation from the organization, the highest $51,778 (Angela Sorenson, Manager).
- How much revenue does GAS & ELECTRIC EMPLOYEES CREDIT UNION have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $216,805, expenses of $157,134 and total assets of $4,415,284 at year end.
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