Bhcu
- Assets
- $226.2m
- Revenue
- $8.1m
- Investments
- $0.0
- Employees
- 34
- Location
- Ridley Park, PA
- Founding
- 09/1945
- Data as of
- 12/2022
- EIN
- 23-1417551
Organization Overview
Bhcu is located in Ridley Park, PA. The organization was established in 1945. According to its NTEE Classification (W61) the organization is classified as: Credit Unions, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2022, Bhcu employed 34 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Bhcu is a 501(c)(14) and as such, is described as a "State Chartered Credit Union, Mutual Reserve Fund" by the IRS.
For the year ending 12/2022, Bhcu generated $8.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.9% each year. All expenses for the organization totaled $6.8m during the year ending 12/2022. While expenses have increased by 7.8% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTING THRIFT AMONG ITS MEMBERS, CREATING A SOURCE OF CREDIT FOR SUCH MEMBERS AT REASONABLE RATES OF INTEREST AND PROVIDING AN OPPORTUNITY FOR ITS MEMBERS TO USE AND CONTROL THEIR MONEY ON A DEMOCRATIC BASIS IN ORDER TO IMPROVE THEIR ECONOMIC AND SOCIAL CONDITIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CREDIT UNIONS ARE COOPERATIVE SAVINGS AND CREDIT ASSOCIATIONS INCORPORATED FOR THE PURPOSE OF PROMOTING THRIFT AMONG ITS MEMBERS, CREATING A SOURCE OF CREDIT FOR SUCH MEMBERS AT REASONABLE RATES OF INTEREST, AND PROVIDING AN OPPORTUNITY FOR THEIR MEMBERS TO USE AND CONTROL THEIR OWN MONEY ON A DEMOCRATIC BASIS IN ORDER TO IMPROVE THEIR ECONOMIC AND SOCIAL CONDITIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joseph Conte President & Chairman Of Bo | Trustee | 1 | $15,600 |
Richard Ranalli Vice President Of The Boar | Trustee | 1 | $8,200 |
Kenneth Knoll Treasurer Of The Board | Trustee | 1 | $9,200 |
Joseph Kelleher Secretary Of The Board | Trustee | 1 | $8,800 |
Guy Ferranti Board Of Director | Trustee | 1 | $8,800 |
Joseph Fortunato Board Of Director | Trustee | 1 | $6,200 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $6,177,092 |
| Investment income | $1,101,917 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$150,520 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,145,035 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,460,659 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,320,963 |
| Pension plan accruals and contributions | $95,196 |
| Other employee benefits | $199,041 |
| Payroll taxes | $161,906 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,089 |
| Fees for services: Accounting | $74,574 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $50,179 |
| Fees for services: Other | $285,421 |
| Advertising and promotion | $222,752 |
| Office expenses | $167,348 |
| Information technology | $452,201 |
| Royalties | $0 |
| Occupancy | $316,167 |
| Travel | $3,768 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $15,407 |
| Interest | $70,362 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $221,997 |
| Insurance | $51,886 |
| All other expenses | -$121,565 |
| Total functional expenses | $6,807,517 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,164,145 |
| Savings and temporary cash investments | $1,846,617 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,634,385 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $155,872,072 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $148,249 |
| Net Land, buildings, and equipment | $2,270,899 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $54,683,091 |
| Intangible assets | $0 |
| Other assets | $6,554,389 |
| Total assets | $226,173,847 |
| Accounts payable and accrued expenses | $3,439,445 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $7,505,382 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $191,297,860 |
| Total liabilities | $202,242,687 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $23,931,160 |
| Total liabilities and net assets/fund balances | $226,173,847 |