0053 Ih Credit Union
- Assets
- $344.8m
- Revenue
- $14.8m
- Investments
- $23.4m
- Employees
- 62
- Location
- Springfield, OH
- Founding
- 04/1969
- Data as of
- 12/2021
- EIN
- 31-0502711
Organization Overview
0053 Ih Credit Union is located in Springfield, OH. The organization was established in 1969. According to its NTEE Classification (W60) the organization is classified as: Financial Institutions, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2021, 0053 Ih Credit Union employed 62 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. 0053 Ih 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 12/2021, 0053 Ih Credit Union generated $14.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.1% each year. All expenses for the organization totaled $12.3m during the year ending 12/2021. While expenses have increased by 5.2% 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
TO PROVIDE FINANCIAL SERVICES TO ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED FINANCIAL SERVICES TO MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robb White President/ceo | Officer | 40 | $337,013 |
Ted Shull CFO | Officer | 40 | $179,169 |
Veronica Vanbourgondien VP Hr | Officer | 40 | $120,262 |
Mike Davis Compliance | Officer | 1 | $105,978 |
Tom Whitacre Director | Trustee | 1 | $0 |
Jeff Harshaw Director | 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 | $12,205,079 |
| Investment income | $1,544,710 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,045,280 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $14,795,069 |
| 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. | $742,422 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,951,153 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $238,943 |
| Advertising and promotion | $375,836 |
| Office expenses | $4,406,733 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $743,423 |
| Travel | $59,612 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,491,049 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $187,323 |
| All other expenses | $0 |
| Total functional expenses | $12,344,405 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,356,237 |
| Savings and temporary cash investments | $31,807,723 |
| 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 | $192,155,376 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $7,508,422 |
| Investments—publicly traded securities | $75,010,497 |
| Investments—other securities | $23,390,090 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $11,568,614 |
| Total assets | $344,796,959 |
| Accounts payable and accrued expenses | $3,612,092 |
| 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 | $32,500,000 |
| Other liabilities | $249,825,344 |
| Total liabilities | $285,937,436 |
| 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 | $58,859,523 |
| Total liabilities and net assets/fund balances | $344,796,959 |
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