Hibbing Co-Op Credit Union
| Fiscal year | Revenue | Expenses | Net | Reserve mo. | Staff % |
|---|---|---|---|---|---|
| 2020 | 2,339,189 | 1,861,265 | 477,924 | 65.2 | 25% |
| 2021 | 2,144,165 | 1,750,422 | 393,743 | 72.6 | 27% |
| 2022 | 2,786,287 | 1,800,837 | 985,450 | 79.1 | 26% |
| 2023 | 3,958,152 | 1,852,715 | 2,105,437 | 91.2 | 24% |
In its most recent public year (2023), this organization brought in $2,105,437 more than it spent. Its reserves stood at about 91.2 months of spending, up from 65.2 in 2020. Staff pay was 24% 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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