Gas & Electric Employees Credit Union

Mason City, IA
EIN: 42-0269010

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Type of Nonprofit

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

Revenue

$172k (2023)

Expenses

$123k (2023)

Total Assets

$4.57M (2023)

Total Liabilities

$2.59M (2023)

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

$171,547

Expenses

$122,929

Net Income

$48,618

Net Assets

$1,977,823

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$136,532	79.6%
Investment Income	$33,844	19.7%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$1,171	0.7%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$50,946	41.4%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$4,567,203
Total Liabilities	$2,589,380
Net Assets	$1,977,823

Compensation

Key Employees and Officers	Compensation	Related	Other
Angela Sorenson (Manager)	$41,700	$0	$0
Jean Ditter (Msr)	$9,347	$0	$0
Jeanette Cink (Msr)	$6,204	$0	$0

990

Filed on Nov. 12, 2024

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

View Filing

Schedules ▼

XML

Fiscal Year Ending Dec.
2022

Revenue

$139,400

Expenses

$109,527

Net Income

$29,873

Net Assets

$1,929,204

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$115,805	83.1%
Investment Income	$22,690	16.3%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$905	0.6%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$53,047	48.4%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$4,953,975
Total Liabilities	$3,024,771
Net Assets	$1,929,204

Compensation

Key Employees and Officers	Compensation	Related	Other
Angela Sorenson (Manager)	$39,609	$0	$0
Jean Ditter (Msr)	$9,888	$0	$0
Jeanette Cink (Msr)	$4,390	$0	$0

990

Filed on June 16, 2023

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

View Filing

Schedules ▼

XML

Fiscal Year Ending Dec.
2021

Revenue

$150,873

Expenses

$111,654

Net Income

$39,219

Net Assets

$1,899,332

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$123,028	81.5%
Investment Income	$27,220	18.0%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$625	0.4%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$49,241	44.1%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$5,284,998
Total Liabilities	$3,385,666
Net Assets	$1,899,332

Compensation

Key Employees and Officers	Compensation	Related	Other
Angela Sorenson (Manager)	$35,131	$0	$0
Jean Ditter (Msr)	$10,800	$0	$0
Jeanette Cink (Msr)	$3,310	$0	$0

990

Filed on Oct. 27, 2022

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

View Filing

Schedules ▼

XML

Fiscal Year Ending Dec.
2020

Revenue

$176,500

Expenses

$113,511

Net Income

$62,989

Net Assets

$1,860,113

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$126,783	71.8%
Investment Income	$48,967	27.7%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$750	0.4%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$47,592	41.9%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$5,106,188
Total Liabilities	$3,246,075
Net Assets	$1,860,113

Compensation

Key Employees and Officers	Compensation	Related	Other
Angela Sorenson (Manager)	$34,114	$0	$0
Jean Ditter (Manager)	$10,656	$0	$0
Jeanette Cink (Msr)	$2,822	$0	$0

990

Filed on May 17, 2021

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

View Filing

Schedules ▼

XML

Fiscal Year Ending Dec.
2019

Revenue

$171,731

Expenses

$121,799

Net Income

$49,932

Net Assets

$1,797,124

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$122,986	71.6%
Investment Income	$43,870	25.5%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$4,875	2.8%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$43,812	36.0%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$4,769,703
Total Liabilities	$2,972,579
Net Assets	$1,797,124

990

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

PDF

PDF (2 of 2)

Fiscal Year Ending Dec.
2018

Revenue

$162,814

Expenses

$115,921

Net Income

$46,893

Net Assets

$1,747,193

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$114,726	70.5%
Investment Income	$47,047	28.9%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$1,041	0.6%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$38,792	33.5%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$4,999,134
Total Liabilities	$3,251,941
Net Assets	$1,747,193

990

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

PDF

Fiscal Year Ending Dec.
2017

Revenue

$165,872

Expenses

$107,897

Net Income

$57,975

Net Assets

$1,700,300

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$120,767	72.8%
Investment Income	$44,325	26.7%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$780	0.5%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$36,660	34.0%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$5,301,284
Total Liabilities	$3,600,984
Net Assets	$1,700,300

990

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

PDF

Fiscal Year Ending Dec.
2016

Revenue

$181,084

Expenses

$106,062

Net Income

$75,022

Net Assets

$1,642,324

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$124,123	68.5%
Investment Income	$56,031	30.9%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$930	0.5%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$35,355	33.3%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$5,392,942
Total Liabilities	$3,750,618
Net Assets	$1,642,324

990

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

PDF

Fiscal Year Ending Dec.
2015

Revenue

$132,040

Expenses

$111,422

Net Income

$20,618

Net Assets

$1,567,303

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$131,000	99.2%
Investment Income	$0
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$1,040	0.8%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$29,631	26.6%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$5,635,553
Total Liabilities	$4,068,250
Net Assets	$1,567,303

990

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

PDF

Fiscal Year Ending Dec.
2014

Revenue

$190,642

Expenses

$114,165

Net Income

$76,477

Net Assets

$1,498,966

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$135,066	70.8%
Investment Income	$54,201	28.4%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$1,375	0.7%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$25,225	22.1%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$5,357,306
Total Liabilities	$3,858,340
Net Assets	$1,498,966

990

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

PDF

Fiscal Year Ending Dec.
2013

Revenue

$185,011

Expenses

$119,554

Net Income

$65,457

Net Assets

$1,422,495

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$146,659	79.3%
Investment Income	$36,756	19.9%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$1,596	0.9%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$24,202	20.2%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$5,201,149
Total Liabilities	$3,778,654
Net Assets	$1,422,495

990

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

PDF

Fiscal Year Ending Dec.
2012

Revenue

$226,367

Expenses

$166,011

Net Income

$60,356

Net Assets

$1,357,031

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$151,481	66.9%
Investment Income	$72,964	32.2%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$1,922	0.8%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$49,167	29.6%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$4,939,796
Total Liabilities	$3,582,765
Net Assets	$1,357,031

990

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

PDF

Fiscal Year Ending Dec.
2011

Revenue

$210,882

Expenses

$155,481

Net Income

$55,401

Net Assets

$1,296,676

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$156,380	74.2%
Investment Income	$52,298	24.8%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$2,204	1.0%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$23,781	15.3%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$4,745,605
Total Liabilities	$3,448,929
Net Assets	$1,296,676

990

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

PDF

Fiscal Year Ending Dec.
2010

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.
2009

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

About This Data

Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats.

The summary data contains information processed by the IRS during the 2012-2019 calendar years; this generally consists of filings for the 2011-2018 fiscal years, but may include older records. This data release includes only a subset of what can be found in the full Form 990s.

In addition to the raw summary data, we link to PDFs and digital copies of full Form 990 documents wherever possible. This consists of separate releases by the IRS of Form 990 documents processed by the agency, which we update regularly.

We also link to copies of audits nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year since 2016. These audits are copied from the Federal Audit Clearinghouse.

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Every organization that has been recognized as tax exempt by the IRS has to file Form 990 every year, unless they make less than $200,000 in revenue and have less than $500,000 in assets, in which case they have to file form 990-EZ. Organizations making less than $50,000 don’t have to file either form but do have to let the IRS they’re still in business via a Form 990N "e-Postcard."

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 »

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Raw filing data. Includes EINs and summary financials as structured data.
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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.

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By Andrea Suozzo, Alec Glassford and Ash Ngu, ProPublica, and Brandon Roberts, Special to ProPublica.
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Updated December 20, 2024

Gas & Electric Employees Credit Union

Organization summary

Type of Nonprofit

Summary charts: organization finances over time

Revenue $172k (2023)

Expenses $123k (2023)

Total Assets $4.57M (2023)

Total Liabilities $2.59M (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

Document Links

990

Fiscal Year Ending Dec. 2018

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Fiscal Year Ending Dec. 2017

Extracted Financial Data

Extracted Financial Data from Form 990

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990

Fiscal Year Ending Dec. 2016

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Fiscal Year Ending Dec. 2015

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Fiscal Year Ending Dec. 2014

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Fiscal Year Ending Dec. 2013

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Fiscal Year Ending Dec. 2012

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Fiscal Year Ending Dec. 2011

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Fiscal Year Ending Dec. 2010

No Extracted Financial Data

Revenue

$172k (2023)

Expenses

$123k (2023)

Total Assets

$4.57M (2023)

Total Liabilities

$2.59M (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