River To River Credit Union
- Assets
- $26.9m
- Revenue
- $856.3k
- Investments
- $0.0
- Employees
- 8
- Location
- Vienna, IL
- Founding
- 06/1972
- Data as of
- 12/2022
- EIN
- 23-7209589
Organization Overview
River To River Credit Union is located in Vienna, IL. The organization was established in 1972. 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, River To River Credit Union employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. River To River 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, River To River Credit Union generated $856.3k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.8% each year. All expenses for the organization totaled $708.9k during the year ending 12/2022. While expenses have increased by 2.8% per year over the past 8 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
RIVER TO RIVER CREDIT UNION IS A MEMBER OWNED FINANCIAL INSTITUTION DEDICATED TO PROVIDING A WIDE RANGE OF PRODUCTS AND SERVICES IN A FRIENDLY ATMOSPHERE WHILE MAINTAINING LONG TERM FINANCIAL STABILITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDES FINANCIAL AND FINANCIALLY RELATED SERVICES TO 2,321 MEMBERS.
PROVIDES A SOURCE OF CREDIT TO MEMBERS AT A FAIR AND REASONABLE RATE OF INTEREST. AS OF DECEMBER 31, 2022, THERE WERE 943 LOANS OUTSTANDING TOTALING $11,023,161.
PAID DIVIDENDS ON MEMBER DEPOSITS TOTALING $27,464 FOR THE YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Larry Mcgill Chairman | Trustee | 0.5 | $0 |
Kenneth Wiggs Vice Chairman | Trustee | 0.5 | $0 |
Sheila Reichert Treasurer | Trustee | 0.5 | $0 |
Betty Heaton Secretary | Trustee | 0.5 | $0 |
Haley Perzee Director/supervisory Committee Chair | Trustee | 0.5 | $0 |
Jeannie Housewright Director/supervisory Committee | Trustee | 0.5 | $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 | $701,319 |
| Investment income | $154,945 |
| 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 | $856,264 |
| 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. | $104,363 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $160,896 |
| Pension plan accruals and contributions | $9,138 |
| Other employee benefits | $15,078 |
| Payroll taxes | $21,607 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $12,157 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $83,250 |
| Advertising and promotion | $1,446 |
| Office expenses | $162,094 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $25,801 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,512 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $37,338 |
| Insurance | $19,472 |
| All other expenses | $4,351 |
| Total functional expenses | $708,900 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $447,287 |
| Savings and temporary cash investments | $14,934,462 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $10,970,518 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $16,931 |
| Net Land, buildings, and equipment | $239,638 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $276,774 |
| Total assets | $26,885,610 |
| Accounts payable and accrued expenses | $45,144 |
| 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 | $24,567,556 |
| Total liabilities | $24,612,700 |
| 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 | $2,272,910 |
| Total liabilities and net assets/fund balances | $26,885,610 |