0022 Homeland Credit Union Inc
- Assets
- $513.4m
- Revenue
- $16.1m
- Investments
- $24.6m
- Employees
- 108
- Location
- Chillicothe, OH
- Founding
- 04/1969
- Data as of
- 12/2022
- EIN
- 31-0395830
Organization Overview
0022 Homeland Credit Union Inc is located in Chillicothe, OH. The organization was established in 1969. 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, 0022 Homeland Credit Union Inc employed 108 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. 0022 Homeland Credit Union Inc 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, 0022 Homeland Credit Union Inc generated $16.1m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.1% each year. All expenses for the organization totaled $13.4m during the year ending 12/2022. While expenses have increased by 5.3% 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
THE PURPOSE OF THIS CREDIT UNION SHALL BE TO PROMOTE THRIFT AND TO PROVIDE CREDIT FOR ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDES FINANCIAL SERVICES TO MEMBERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dana Widmayer Board Member | OfficerTrustee | 1 | $0 |
Dennis Miller Chairman | OfficerTrustee | 1 | $0 |
Brad Purdum Treasurer | OfficerTrustee | 1 | $0 |
Donald Thompson Secretary | OfficerTrustee | 1 | $0 |
Frederick Fairrow II 2nd Vice Chairman | Trustee | 1 | $0 |
Beth Fowler 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 | $10,945,122 |
| Investment income | $5,120,097 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $216 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $16,065,435 |
| 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. | $968,815 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,744,072 |
| Pension plan accruals and contributions | $675,571 |
| Other employee benefits | $0 |
| Payroll taxes | $308,475 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $268 |
| Fees for services: Accounting | $103,176 |
| Fees for services: Lobbying | $97,326 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $290,403 |
| Office expenses | $2,183,580 |
| Information technology | $905,767 |
| Royalties | $0 |
| Occupancy | $392,556 |
| Travel | $40,868 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,686,791 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $257,671 |
| Insurance | $77,583 |
| All other expenses | $0 |
| Total functional expenses | $13,376,904 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,201,469 |
| Savings and temporary cash investments | $35,363,774 |
| 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 | $170,874,275 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $2,343,633 |
| Investments—publicly traded securities | $268,506,645 |
| Investments—other securities | $24,560,031 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $8,550,471 |
| Total assets | $513,400,298 |
| Accounts payable and accrued expenses | $2,134,926 |
| 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 | $466,141,213 |
| Total liabilities | $468,276,139 |
| 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 | $45,124,159 |
| Total liabilities and net assets/fund balances | $513,400,298 |