Leading Edge Credit Union

Worthington, MN
Tax-exempt since Sept. 1944
EIN: 41-1563619

Receive an email when new data is available for this organization.

Type of Nonprofit

Designated as a 501(c)(14) State-chartered credit unions and mutual reserve funds.

Donations to this organization are not tax deductible.

Revenue

$8.42M (2023)

Expenses

$8.56M (2023)

Total Assets

$145M (2023)

Total Liabilities

$134M (2023)

Years with missing data

Source: Form 990 tax filings from 2011 to 2023

Tax Filings by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Fiscal Year Ending Dec.
2023

Revenue

$8,422,524

Expenses

$8,561,409

Net Income

-$138,885

Net Assets

$11,114,276

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$8,032,504	95.4%
Investment Income	$403,259	4.8%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	-$13,239
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$729,082	8.5%
Professional Fundraising Fees	$0
Other Salaries and Wages	$1,779,193	20.8%

Assets/Debt
Total Assets	$145,079,805
Total Liabilities	$133,965,529
Net Assets	$11,114,276

Compensation

Key Employees and Officers	Compensation	Related	Other
Chad Merrihew (Ceo & President)	$222,310	$0	$32,913
Donna Tims (Chro)	$118,938	$0	$20,265
Laura Honken (Cio)	$105,412	$0	$12,702
Melissa Gehl (Chief Marketing Officer)	$86,513	$0	$11,427
Ryan Francis (Cfo)	$65,649	$0	$7,641
Brandie Swenson (Cfo)	$35,947	$0	$5,038
Phyllis Brunk (Secretary & Treasurer)	$1,192	$0	$0
Cheryl Janssen (Board Member)	$1,139	$0	$0
Mike Loosebrock (Vice Chairman)	$1,006	$0	$0
Randy Donahue (Chairman)	$678	$0	$0
Voris Spittle (Board Member)	$312	$0	$0
Thomas Martin (Board Member)	$0	$0	$0

+ View more people

990

Filed on Nov. 14, 2024

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing

Schedules ▼

XML

Fiscal Year Ending Dec.
2022

Revenue

$7,569,554

Expenses

$7,236,877

Net Income

$332,677

Net Assets

$10,963,848

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$7,262,927	95.9%
Investment Income	$274,114	3.6%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$32,513	0.4%
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$644,321	8.9%
Professional Fundraising Fees	$0
Other Salaries and Wages	$2,054,593	28.4%

Assets/Debt
Total Assets	$149,217,727
Total Liabilities	$138,253,879
Net Assets	$10,963,848

Compensation

Key Employees and Officers	Compensation	Related	Other
Chad Merrihew (Ceo & President)	$245,518	$0	$32,166
Donna Tims (Chro)	$107,719	$0	$19,009
Laura Honken (Cio)	$107,575	$0	$11,525
Brandie Swenson (Cfo)	$104,861	$0	$10,934
Phyllis Brunk (Secretary & Treasurer)	$1,573	$0	$0
Randy Donahue (Chairman)	$1,560	$0	$0
Rodney Byam (Board Member)	$660	$0	$0
Mike Loosebrock (Vice Chairman)	$583	$0	$0
Voris Spittle (Board Member)	$462	$0	$0
Tony Vanderbosch (Board Member)	$176	$0	$0
Thomas Martin (Asst Secretary & Treasurer)	$0	$0	$0

+ View more people

990

Filed on Nov. 13, 2023

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing

Schedules ▼

PDF XML

Fiscal Year Ending Dec.
2021

Revenue

$7,366,161

Expenses

$7,278,149

Net Income

$88,012

Net Assets

$11,876,212

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$7,082,557	96.1%
Investment Income	$293,401	4.0%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	-$9,797
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$704,714	9.7%
Professional Fundraising Fees	$0
Other Salaries and Wages	$2,104,204	28.9%

Assets/Debt
Total Assets	$143,432,418
Total Liabilities	$131,556,206
Net Assets	$11,876,212

Compensation

Key Employees and Officers	Compensation	Related	Other
Chad Merrihew (Ceo & President)	$228,401	$0	$0
Mike Reemtsma (Coo)	$109,372	$0	$0
Laura Honken (Cio)	$102,112	$0	$0
Donna Tims (Chro)	$98,184	$0	$0
Brandie Swenson (Cfo)	$84,490	$0	$0
Melissa Gehl (Cmo)	$77,409	$0	$0
Randy Donahue (Chairman)	$1,474	$0	$0
Tony Vanderbosch (Board Member)	$950	$0	$0
Mike Loosebrock (Vice Chairman)	$869	$0	$0
Voris Spittle (Board Member)	$771	$0	$0
Phyllis Brunk (Secretary & Treasurer)	$682	$0	$0
Thomas Martin (Asst Secretary & Treasurer)	$0	$0	$0
Rodney Byam (Board Member)	$0	$0	$0

+ View more people

990

Filed on Nov. 14, 2022

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing

Schedules ▼

XML

Fiscal Year Ending Dec.
2020

Revenue

$6,671,151

Expenses

$6,780,328

Net Income

-$109,177

Net Assets

$12,126,503

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$6,437,976	96.5%
Investment Income	$246,269	3.7%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	-$13,094
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$598,620	8.8%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$135,956,726
Total Liabilities	$123,830,223
Net Assets	$12,126,503

Compensation

Key Employees and Officers	Compensation	Related	Other
Chad Merrihew (Ceo & President)	$210,326	$0	$50,000
Laura Honken (Cio)	$99,337	$0	$0
Brandie Swenson (Cfo)	$71,984	$0	$0
Melissa Gehl (Cmo)	$59,506	$0	$0
Mike Reemtsma (Coo)	$50,001	$0	$0
Kent Bargfrede (Chief Lending Officer)	$48,875	$0	$0
Mike Loosebrock (Vice Chairman)	$5,269	$0	$0
Randy Donahue (Chairman)	$1,111	$0	$0
Voris Spittle (Board Member)	$924	$0	$0
Tony Vanderbosch (Board Member)	$858	$0	$0
Phyllis Brunk (Secretary & Treasurer)	$429	$0	$0
Thomas Martin (Asst Secretary & Treasurer)	$0	$0	$0
Rodney Byam (Board Member)	$0	$0	$0

+ View more people

990

Filed on Oct. 29, 2021

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing

Schedules ▼

XML

Fiscal Year Ending Dec.
2019

Revenue

$7,038,377

Expenses

$6,923,233

Net Income

$115,144

Net Assets

$12,142,607

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$6,874,231	97.7%
Investment Income	$219,447	3.1%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	-$55,301
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$767,460	11.1%
Professional Fundraising Fees	$0
Other Salaries and Wages	$1,800,116	26.0%

Assets/Debt
Total Assets	$121,644,692
Total Liabilities	$109,502,085
Net Assets	$12,142,607

Compensation

Key Employees and Officers	Compensation	Related	Other
Linda Jacobson (Ceo & President)	$172,652	$0	$16,033
Kent Bargfrede (Chief Lending Officer)	$160,000	$0	$6,388
Laura Honken (Cio)	$88,009	$0	$0
Chad Eken (Vp Commercial Lending)	$71,168	$0	$0
Chad Merrihew (Ceo & President)	$68,270	$0	$0
Brandie Swenson (Vp Accounting)	$58,673	$0	$0
Tanley Buckentin (Vp Sales And Service)	$57,744	$0	$0
Veronica Mireles (Vp Human Resources)	$46,921	$0	$0
Voris Spittle (Board Member)	$4,537	$0	$0
Randy Donahue (Chairman)	$4,488	$0	$0
Phyllis Brunk (Secretary & Treasurer)	$3,855	$0	$0
Mike Loosebrock (Vice Chairman)	$3,190	$0	$0
Tony Vanderbosch (Board Member)	$2,782	$0	$0
Rodney Byam (Board Member)	$2,750	$0	$0
Thomas Martin (Asst Secretary & Treasurer)	$0	$0	$0

+ View more people

990

Filed on Oct. 2, 2020

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing

Schedules ▼

PDF XML

Fiscal Year Ending Dec.
2018

Revenue

$6,789,570

Expenses

$6,087,776

Net Income

$701,794

Net Assets

$12,005,367

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$6,653,295	98.0%
Investment Income	$111,742	1.6%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$24,533	0.4%
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$354,220	5.8%
Professional Fundraising Fees	$0
Other Salaries and Wages	$2,028,973	33.3%

Assets/Debt
Total Assets	$118,927,618
Total Liabilities	$106,922,251
Net Assets	$12,005,367

Reported conflict of interest transactions

Compensation

Key Employees and Officers	Compensation	Related	Other
Linda Jacobson (Exec Director/Ceo)	$193,583	$0	$0
Kent Bargfrede (Chief Lending Officer)	$150,241	$0	$0
Voris Spittle (Board Member)	$2,492	$0	$0
Randy Donahue (Chairman)	$2,272	$0	$0
Phyllis Brunk (Secretary)	$2,200	$0	$0
Mike Loosbrock (Vice Chairman)	$2,123	$0	$0
Rodney Byam (Board Member)	$715	$0	$0
Tony Vandenbosch (Board Member)	$594	$0	$0
Thomas Martin (Board Member)	$0	$0	$0

+ View more people

990

Filed on May 15, 2019

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing

Schedules ▼

PDF XML

Fiscal Year Ending Dec.
2017

Revenue

$6,221,941

Expenses

$5,552,337

Net Income

$669,604

Net Assets

$11,303,573

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$6,130,909	98.5%
Investment Income	$77,732	1.2%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$13,300	0.2%
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$368,762	6.6%
Professional Fundraising Fees	$0
Other Salaries and Wages	$1,759,300	31.7%

Assets/Debt
Total Assets	$114,802,502
Total Liabilities	$103,498,929
Net Assets	$11,303,573

Reported conflict of interest transactions

Compensation

Key Employees and Officers	Compensation	Related	Other
Linda Jacobson (Exec Director/Ceo)	$202,017	$0	$0
Kent Bargfrede (Branch Manager)	$157,156	$0	$0
Mike Loosbrock (Vice Chairman)	$2,010	$0	$0
Voris Spittle (Chairman)	$1,727	$0	$0
Jason Bartosh (Board Member)	$1,549	$0	$0
Terry Appel (Secretary)	$1,515	$0	$0
Randy Donahue (Board Member)	$1,010	$0	$0
Kurt Lintelman (Board Member)	$645	$0	$0
Phyllis Brunk (Board Member)	$470	$0	$0
Gw Schwarz (Vice Chairman)	$373	$0	$0
Charles Friese (Board Member)	$290	$0	$0

+ View more people

990

Filed on May 11, 2018

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing

Schedules ▼

XML

Fiscal Year Ending Dec.
2016

Revenue

$5,539,832

Expenses

$4,845,634

Net Income

$694,198

Net Assets

$10,633,969

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$5,494,887	99.2%
Investment Income	$34,145	0.6%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$10,800	0.2%
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$342,048	7.1%
Professional Fundraising Fees	$0
Other Salaries and Wages	$1,674,575	34.6%

Assets/Debt
Total Assets	$100,084,947
Total Liabilities	$89,450,978
Net Assets	$10,633,969

Reported conflict of interest transactions

Compensation

Key Employees and Officers	Compensation	Related	Other
Linda Jacobson (Exec Director/Ceo)	$189,424	$0	$0
Kent Bargfrede (Branch Manager)	$136,597	$0	$0
Voris Spittle (Chairman)	$4,730	$0	$0
Gw Schwarz (Vice Chairman)	$3,595	$0	$0
Charles Friese (Board Member)	$1,757	$0	$0
Terry Appel (Secretary)	$1,677	$0	$0
Jason Bartosh (Board Member)	$1,485	$0	$0
Randy Donahue (Board Member)	$1,198	$0	$0
Stacy Martin (Board Member)	$1,045	$0	$0
Mike Loosbrock (Board Member)	$540	$0	$0

+ View more people

990

Filed on May 15, 2017

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing

Schedules ▼

PDF XML

Fiscal Year Ending Dec.
2015

Revenue

$5,099,810

Expenses

$4,164,254

Net Income

$935,556

Net Assets

$9,939,771

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$5,039,283	98.8%
Investment Income	$49,727	1.0%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$10,800	0.2%
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$159,444	3.8%
Professional Fundraising Fees	$0
Other Salaries and Wages	$1,621,335	38.9%

Assets/Debt
Total Assets	$88,902,320
Total Liabilities	$78,962,549
Net Assets	$9,939,771

Reported conflict of interest transactions

Compensation

Key Employees and Officers	Compensation	Related	Other
Linda Jacobson (Exec Director/Ceo)	$149,168	$0	$0
Voris Spittle (Chairman)	$2,955	$0	$0
Gw Schwarz (Vice Chairman)	$1,653	$0	$0
Terry Appel (Secretary)	$1,609	$0	$0
Charles Friese (Board Member)	$1,343	$0	$0
Stacy Martin (Board Member)	$1,162	$0	$0
Randy Donahue (Board Member)	$1,156	$0	$0
Jason Bartosh (Board Director)	$398	$0	$0

+ View more people

990

Filed on May 16, 2016

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing

Schedules ▼

PDF XML

PDF (2 of 2)

Fiscal Year Ending Dec.
2014

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2013

Revenue

$4,064,502

Expenses

$3,251,314

Net Income

$813,188

Net Assets

$8,038,608

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$3,897,640	95.9%
Investment Income	$156,062	3.8%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$10,800	0.3%
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$117,868	3.6%
Professional Fundraising Fees	$0
Other Salaries and Wages	$1,241,126	38.2%

Assets/Debt
Total Assets	$73,273,584
Total Liabilities	$65,234,976
Net Assets	$8,038,608

Reported conflict of interest transactions

Compensation

Key Employees and Officers	Compensation	Related	Other
Linda Jacobson (Exec Director/Ceo)	$117,868	$0	$0
Gw Schwarz (Vice Chairman)	$0	$0	$0
Voris Spittle (Chairman)	$0	$0	$0
Terry Appel (Secretary)	$0	$0	$0
Charles Friese (Board Member)	$0	$0	$0
Howard Kass (Board Member)	$0	$0	$0
Jon Weitgenant (Board Member)	$0	$0	$0
Stacy Martin (Board Member)	$0	$0	$0

+ View more people

990

Filed on July 3, 2014

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing

Schedules ▼

PDF XML

Fiscal Year Ending Dec.
2012

Revenue

$3,642,828

Expenses

$3,145,015

Net Income

$497,813

Net Assets

$7,227,217

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$3,473,243	95.3%
Investment Income	$212,814	5.8%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$10,800	0.3%
Net Fundraising	$0
Sales of Assets	-$54,029
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$1,274,063	40.5%

Assets/Debt
Total Assets	$71,439,737
Total Liabilities	$64,212,520
Net Assets	$7,227,217

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2011

Revenue

$3,378,034

Expenses

$3,111,867

Net Income

$266,167

Net Assets

$6,729,404

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$3,100,169	91.8%
Investment Income	$274,523	8.1%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$10,800	0.3%
Net Fundraising	$0
Sales of Assets	-$7,458
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$1,151,191	37.0%

Assets/Debt
Total Assets	$65,420,167
Total Liabilities	$58,690,763
Net Assets	$6,729,404

Nonprofit Explorer has organizations claiming tax exemption in each of the 27 subsections of the 501(c) section of the tax code, and which have filed a Form 990, Form 990EZ or Form 990PF. Taxable trusts and private foundations that are required to file a form 990PF are also included. Small organizations filing a Form 990N "e-Postcard" are not included in this data.

Types of Nonprofits

There are 27 nonprofit designations based on the numbered subsections of section 501(c) of the tax code. See the list »

Get the Data

For those interested in acquiring the original data from the source, here’s where our data comes from:

Raw filing data. Includes EINs and summary financials as structured data.
Exempt Organization profiles. Includes organization names, addresses, etc. You can merge this with the raw filing data using EIN numbers.
Form 990 documents. Prior to 2017, these documents were obtained and processed by Public.Resource.org and ProPublica. Bulk PDF downloads since 2017 are available from the IRS.
Form 990 documents as XML files. Includes complete filing data (financial details, names of officers, tax schedules, etc.) in machine-readable format. Only available for electronically filed documents. Electronic data released prior to October 2021 is also available through Amazon Web Services.
Audits. PDFs of single or program-specific audits for nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year. Available for fiscal year 2015 and later.

API

The data powering this website is available programmatically, via an API. Read the API documentation »

Leading Edge Credit Union

Organization summary

Type of Nonprofit

Summary charts: organization finances over time

Revenue $8.42M (2023)

Expenses $8.56M (2023)

Total Assets $145M (2023)

Total Liabilities $134M (2023)

Tax Filings by Year

Fiscal Year Ending Dec. 2023

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2022

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2021

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2020

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2019

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2018

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Dec. 2017

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Dec. 2016

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Dec. 2015

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Dec. 2014

No Extracted Financial Data

Document Links

990

Fiscal Year Ending Dec. 2013

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Dec. 2012

Extracted Financial Data

Revenue

$8.42M (2023)

Expenses

$8.56M (2023)

Total Assets

$145M (2023)

Total Liabilities

$134M (2023)

Fiscal Year Ending Dec.
2023

Fiscal Year Ending Dec.
2022

Fiscal Year Ending Dec.
2021

Fiscal Year Ending Dec.
2020

Fiscal Year Ending Dec.
2019

Fiscal Year Ending Dec.
2018

Fiscal Year Ending Dec.
2017

Fiscal Year Ending Dec.
2016

Fiscal Year Ending Dec.
2015

Fiscal Year Ending Dec.
2014

Fiscal Year Ending Dec.
2013

Fiscal Year Ending Dec.
2012

Fiscal Year Ending Dec.
2011

Fiscal Year Ending Dec.
2010

Fiscal Year Ending Dec.
2009

Fiscal Year Ending Dec.
2008

Fiscal Year Ending Dec.
2007

Fiscal Year Ending Dec.
2006

Fiscal Year Ending Dec.
2005

Fiscal Year Ending Dec.
2004