711 Wiremens Credit Union Inc
- Assets
- $35.3m
- Revenue
- $884.8k
- Investments
- $2.0m
- Employees
- 4
- Location
- Parma, OH
- Founding
- 04/1969
- Data as of
- 12/2021
- EIN
- 34-0899424
Organization Overview
711 Wiremens Credit Union Inc is located in Parma, 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, 711 Wiremens Credit Union Inc employed 4 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. 711 Wiremens 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, 711 Wiremens Credit Union Inc generated $884.8k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.7% each year. All expenses for the organization totaled $813.6k during the year ending 12/2021. While expenses have increased by 2.1% 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
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
PROVIDE FINANCIAL SERVICES
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jennifer Komornik CEO | OfficerTrustee | 45 | $69,497 |
Brendan Wiemels Treasurer | OfficerTrustee | 1 | $0 |
Kevin Stredney Secretary | OfficerTrustee | 1 | $0 |
Lee Svoboda President | OfficerTrustee | 1 | $0 |
Michael Bremmer Director | Trustee | 1 | $0 |
Daniel Nenadal 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 | $730,461 |
| Investment income | $154,384 |
| 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 | $884,845 |
| 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. | $69,497 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $82,794 |
| Pension plan accruals and contributions | $1,901 |
| Other employee benefits | $31,246 |
| Payroll taxes | $12,178 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,523 |
| Fees for services: Accounting | $15,550 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $26,107 |
| Advertising and promotion | $27,694 |
| Office expenses | $183,817 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $85,563 |
| Travel | $3,230 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $99,495 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $35,440 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $813,590 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $154,649 |
| Savings and temporary cash investments | $3,281,619 |
| 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 | $14,470,086 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $579,866 |
| Investments—publicly traded securities | $14,293,748 |
| Investments—other securities | $2,023,576 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $467,672 |
| Total assets | $35,271,216 |
| Accounts payable and accrued expenses | $146,067 |
| 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 | $28,895,416 |
| Total liabilities | $29,041,483 |
| 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 | $6,229,733 |
| Total liabilities and net assets/fund balances | $35,271,216 |