Bhcu
- Assets
- $210.3m
- Revenue
- $8.2m
- Investments
- $1.5m
- Employees
- 30
- Location
- Ridley Park, PA
- Founding
- 09/1945
- Data as of
- 12/2021
- 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 12/2021, Bhcu employed 30 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 12/2021, Bhcu generated $8.2m 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 $6.0m during the year ending 12/2021. While expenses have increased by 6.0% 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
2021
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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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gary Golden CEO | Officer | 40 | $336,487 |
Cheryl Altieri Evp | Officer | 40 | $199,516 |
Edward Biernacki SVP | Officer | 40 | $161,694 |
Gerald Dorn Cco | 40 | $137,170 | |
James Pace Bdo | 40 | $111,973 | |
Joseph Conte Vice President Of The Board | Trustee | 1 | $17,000 |
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 | $5,389,614 |
| Investment income | $1,138,653 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $107,921 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,169,647 |
| 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. | $1,203,534 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,127,106 |
| Pension plan accruals and contributions | $85,837 |
| Other employee benefits | $191,035 |
| Payroll taxes | $106,102 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $15,697 |
| Fees for services: Accounting | $69,420 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $49,062 |
| Fees for services: Other | $320,983 |
| Advertising and promotion | $149,875 |
| Office expenses | $146,804 |
| Information technology | $319,462 |
| Royalties | $0 |
| Occupancy | $242,684 |
| Travel | $1,008 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,987 |
| Interest | $259 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $202,571 |
| Insurance | $35,954 |
| All other expenses | $52,865 |
| Total functional expenses | $6,047,113 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $639,530 |
| Savings and temporary cash investments | $7,657,451 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $891,049 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $131,353,219 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $83,213 |
| Net Land, buildings, and equipment | $1,903,022 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,523,355 |
| Investments—program-related | $62,424,869 |
| Intangible assets | $0 |
| Other assets | $3,846,095 |
| Total assets | $210,321,803 |
| Accounts payable and accrued expenses | $2,042,862 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $179,390,059 |
| Total liabilities | $181,432,921 |
| 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 | $28,888,882 |
| Total liabilities and net assets/fund balances | $210,321,803 |
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|---|---|---|
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Lehigh Valley Educators Credit Union Allentown, PA | $408,699,262 | $9,686,113 |