532 Faith Community United Credit Union Inc

Organization Overview

532 Faith Community United Credit Union Inc is located in Cleveland, OH. The organization was established in 1969. According to its NTEE Classification (S99) the organization is classified as: Community Improvement & Capacity Building N.E.C., under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, 532 Faith Community United Credit Union Inc employed 9 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. 532 Faith Community United 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 12/2021, 532 Faith Community United Credit Union Inc generated $2.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.3% each year. All expenses for the organization totaled $1.6m during the year ending 12/2021. While expenses have increased by 3.8% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

PROVIDE LENDING, SAVINGS,AND OTHER FINANCIAL SERVICES TO ITS QUALIFYING MEMBERS AT TERMS BETTER THAN AVAILABLE IN THE MARKETPLACE WITH A SERVICE BASED EMPHASIS THAT RECOGNIZES THE MEMBERS AS OWNERS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

PROVIDE LENDING, SAVINGS,ANDOTHER FINANCIAL SERVICES TO ITS QUALIFYING MEMBERS AT TERMS BETTER THAN AVAILABLE IN THE MARKETPLACE WITH A SERVICE BASED EMPHASIS THAT RECOGNIZES THE MEMBERS AS OWNERS.


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Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $812,419
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$812,419
Total Program Service Revenue$1,693,187
Investment income $44,668
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 $2,550,274

Grants Recieved

Over the last fiscal year, we have identified 1 grants that 532 Faith Community United Credit Union Inc has recieved totaling $25,000.

Awarding OrganizationAmount
Inclusiv Inc

New York, NY

PURPOSE: CREDIT UNION IMPACT CAPACITY BUILDING

$25,000
View Grant Recipient Profile

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