North Star Community Credit Union
- Assets
- $136.7m
- Revenue
- $6.7m
- Investments
- $0.0
- Employees
- 36
- Location
- Cherokee, IA
- Founding
- Data as of
- 12/2022
- EIN
- 23-7156614
Organization Overview
North Star Community Credit Union is located in Cherokee, IA. As of 12/2022, North Star Community Credit Union employed 36 individuals. North Star Community Credit Union 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, North Star Community Credit Union generated $6.7m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.3% each year . All expenses for the organization totaled $6.0m during the year ending 12/2022. While expenses have increased by 11.8% 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
STATE CHARTERED CREDIT UNION
Describe the Organization's Program Activity:
Part 3 - Line 4a
N/A
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeffrey L Hayes President/ C | Officer | 45 | $232,563 |
Ronald E Brown Board Member | Trustee | 1 | $0 |
Leah J Edwards Board Member | Trustee | 1 | $0 |
Stephanie R Foxhoven Board Member | Trustee | 1 | $0 |
Morgan I Gravanish Board Member | Trustee | 1 | $0 |
Jolleen K Heater Board Member | Trustee | 1 | $0 |
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 | $6,237,152 |
| Investment income | $413,363 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,650,515 |
| 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. | $262,673 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,204,361 |
| Pension plan accruals and contributions | $108,961 |
| Other employee benefits | $235,532 |
| Payroll taxes | $110,109 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,500 |
| Fees for services: Accounting | $28,154 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $273,172 |
| Office expenses | $489,083 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $188,001 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $45,033 |
| Interest | $9,822 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $286,340 |
| Insurance | $57,725 |
| All other expenses | $243,228 |
| Total functional expenses | $6,000,543 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,503,773 |
| Savings and temporary cash investments | $19,945,743 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $64,401 |
| Loans from Officers, Directors, or Controlling Persons | $810,000 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $101,423,020 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $290,180 |
| Net Land, buildings, and equipment | $5,455,508 |
| Investments—publicly traded securities | $3,373,670 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,825,997 |
| Total assets | $136,692,292 |
| Accounts payable and accrued expenses | $1,352,846 |
| 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 | $123,123,973 |
| Total liabilities | $124,476,819 |
| 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 | $6,000,000 |
| Retained earnings, endowment, accumulated income, or other funds | $6,215,473 |
| Total liabilities and net assets/fund balances | $136,692,292 |