First Class Community Credit Union
Nonprofit profile at a glance
- EIN
- 420214790
- IRS 990 coverage
- 2010–2025
- Forms available
- Form 990 2025
- Location
- Des Moines, IA, USA
- Phone
- 5152244300
- Rating
- 43
- Verdict
- MIXED
- Rating confidence
- Moderate
- Sector
- Credit Unions
Reported finances
- Revenue
- $5,629,371
- Expenses
- $4,345,877
- Assets
- $93,253,254
- Liabilities
- $83,794,803
Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.
Leadership & pay
12 people listed
Executive titles in this filing
- ZAC POLLOCK (CEO)
Highest reported compensation
- ZAC POLLOCK (CEO): $271,431 total reported compensation
- LAURI DUFF (CFO): $159,021 total reported compensation
- CHELSEA BULLINGTON (COO): $141,311 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
State chartered credit union
Operating model
- Revenue model
- Earned-program. 77% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.
The verdict
MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.
Rating breakdown
- Financial Efficiency: 0
- Transparency & Controls: 66
- Accountability: 86
- Sustainability: 67
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 0%; rating input score 0
- Program expense ratio: 0%; rating input score 0
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: 1 of 6 controls in place; rating input score 17
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Missing
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 6 of 9 controls in place; rating input score 67
- Conflict-of-interest policy: Pass
- Whistleblower policy: Fail
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Fail
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 22.8%; rating input score 76; 76th percentile among comparable filings
- Total-asset coverage ratio: 21.46; rating input score 95; 95th percentile among comparable filings
- Liabilities to assets ratio: 0.9; rating input score 5; 5th percentile among comparable filings
- Officer compensation ratio: 13.2%; rating input score 26; 26th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 2.5% per year; rating input score 100; 19th percentile among comparable filings
- Asset growth: 3.9% per year; rating input score 100; 27th percentile among comparable filings
Details
- Where the money goes: 0% of revenue deployed · 0% of spending went to programs
- Governance: 9 of 9 board members independent · 6 of 9 filing controls reported
- Programs: Filed program service accomplishments
- Leadership: top reported pay $271K · 12 people listed · 1 of 6 pay-setting controls reported
- Consistency: 13 of 14 current checks pass · 1 finding to review
- Schedules: 3 filed schedules · includes executive pay
- Filing history: 15 filing years from 2010 to 2025
- Contacts: How to reach this organization
- Money network: 3 filed money-flow records
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
- Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Financial Efficiency: Mission deployment rate scored 0/100.
- High — Financial Efficiency: Program expense ratio scored 0/100.
- Review — Accountability: Governance controls: 3 of 9 not reported.
- Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
- High — Sustainability: Liabilities to assets ratio scored 5/100.
- High — Sustainability: Officer compensation ratio scored 26/100.