First Northern Credit Union
| Fiscal year | Revenue | Expenses | Net | Reserve mo. | Staff % |
|---|---|---|---|---|---|
| 2020 | 15,864,341 | 14,794,690 | 1,069,651 | 22.2 | 43% |
| 2021 | 14,919,062 | 13,979,497 | 939,565 | 23.1 | 45% |
| 2022 | 13,852,923 | 13,573,556 | 279,367 | 17.5 | 45% |
| 2023 | 15,682,669 | 14,831,444 | 851,225 | 19.2 | 40% |
In its most recent public year (2023), this organization brought in $851,225 more than it spent. Its reserves stood at about 19.2 months of spending, down from 22.2 in 2020. Staff pay was 40% of spending.
Reserve months = net assets ÷ average monthly spending; net assets count everything the organization owns beyond its debts — buildings and donor-restricted funds included, not just cash. Staff pay = salaries, wages, and officer compensation; it excludes benefits and payroll taxes. The IRS releases this data years after the fact — this organization's newest public year is 2023. Years refer to the calendar year in which the organization's fiscal year ended. Short-form filers do not publicly report donor-restricted balances or staffing costs. Source filings
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