MAGNIFI FINANCIAL CREDIT UNION
MELROSE, MN 56352 · IRS data through FY2024
Revenue, expenses and net assets
Revenue Expenses Net assets
| Tax year | Revenue | Expenses | Net assets |
|---|---|---|---|
| FY2024 | $149,695,408 | $141,550,968 | $247,843,338 |
| FY2023 | $128,720,153 | $108,628,019 | $240,919,698 |
| FY2022 | $87,403,819 | $72,413,903 | $216,555,060 |
| FY2021 | $78,975,601 | $61,813,507 | $210,623,120 |
| FY2020 | $74,850,818 | $62,900,631 | $198,160,681 |
| FY2019 | $66,228,219 | $52,153,934 | $186,127,689 |
| FY2018 | $57,068,510 | $43,667,539 | $169,176,605 |
| FY2017 | $51,224,859 | $40,743,473 | $155,882,286 |
Where the revenue came from
| Source | Amount | % of revenue |
|---|---|---|
| Contributions & grants | $0 | 0% |
| Program service revenue | $119,403,753 | 100% |
What the numbers show
- Program service revenue made up 100% of total revenue in FY2024.
- Net assets covered about 21 months of expenses at the end of the reporting year.
- Total revenue rose from $51,224,859 in FY2017 to $149,695,408 in FY2024, Revenue increased in 7 and decreased in 0 of 7 year-over-year comparisons.
- Revenue covered expenses in each of the 8 reported years, FY2017 to FY2024.
- Net assets grew from $155,882,286 to $247,843,338 between FY2017 and FY2024.
Figures compared against other organizations of the same NTEE program area in the same state. See the methodology page for how these are calculated and the guide to reading nonprofit financials for their limits.
About this organization
MAGNIFI FINANCIAL CREDIT UNION IS A MEMBER OWNED FINANCIAL COOPERATIVE PROVIDING LOAN, DEPOSIT AND OTHER FINANCIAL SERVICES TO 84,983 MEMBERS.
IRS status
| Ruling year | 1944 |
| Subsection | 501(c)(14) |
Source: Internal Revenue Service — Exempt Organizations Business Master File (downloaded September 20, 2026), Statistics of Income extracts, Form 990 e-file data, Publication 78 and the Automatic Revocation list. Figures are as reported by the organization; IRS processing may adjust them. This is not a charity rating and not tax advice. Confirm deductibility in IRS Tax Exempt Organization Search.
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