1158 Scott Associates Credit Union
- Assets
- $13.9m
- Revenue
- $516.0k
- Investments
- $0.0
- Employees
- 5
- Location
- Marysville, OH
- Founding
- 04/1969
- Data as of
- 12/2021
- EIN
- 31-0736256
Organization Overview
1158 Scott Associates Credit Union is located in Marysville, 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 12/2021, 1158 Scott Associates Credit Union employed 5 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. 1158 Scott Associates 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, 1158 Scott Associates Credit Union generated $516.0k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.4% each year. All expenses for the organization totaled $501.5k during the year ending 12/2021. While expenses have increased by 1.7% 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
SCOTT ASSOCIATES CREDIT UNION, INC. IS A FINANCIAL INSTITUTION COOPERATIVE ORGANIZED TO PROVIDE LOAN AND DEPOSIT PRODUCTS AND SERVICES FOR ITS MEMBER OWNERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION IS A STATE CHARTERED MEMBER OWNED COOPERATIVE CREDIT UNION THAT PROVIDES FINANCIAL SERVICES AND PRODUCTS TO THE MEMBER OWNERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Karla Poling General Manager | Officer | 40 | $60,099 |
John Foster Director | Trustee | 2 | $0 |
Joy Carmichael Director (beginning December 2021) | Trustee | 2 | $0 |
Diane Pekunka Chairperson Of Board | Trustee | 2 | $0 |
Sherry Worstell Secretary Of Board | Trustee | 2 | $0 |
Holly Richardson Director | Trustee | 2 | $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 | $459,959 |
| Investment income | $56,081 |
| 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 | $516,040 |
| 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. | $60,099 |
| Compensation of current officers, directors, key employees. | $30,050 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $148,481 |
| Pension plan accruals and contributions | $8,000 |
| Other employee benefits | $23,604 |
| Payroll taxes | $17,391 |
| Fees for services: Management | $6,678 |
| Fees for services: Legal | $672 |
| Fees for services: Accounting | $14,285 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,727 |
| Office expenses | $2,106 |
| Information technology | $33,233 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,516 |
| Interest | $55,423 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,276 |
| Insurance | $9,495 |
| All other expenses | $591 |
| Total functional expenses | $501,499 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,761 |
| Savings and temporary cash investments | $175,824 |
| 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 | $6,302,074 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $560 |
| Net Land, buildings, and equipment | $16,767 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $7,272,067 |
| Intangible assets | $0 |
| Other assets | $139,642 |
| Total assets | $13,911,695 |
| Accounts payable and accrued expenses | $34,564 |
| 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 | $12,276,483 |
| Total liabilities | $12,311,047 |
| 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 | $1,600,648 |
| Total liabilities and net assets/fund balances | $13,911,695 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that 1158 Scott Associates Credit Union has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
Ohio Credit Union Foundation Columbus, OH PURPOSE: COVID-19 RELIEF GRANT | $10,000 |