Tlcu Financial
- Assets
- $51.7m
- Revenue
- $2.0m
- Investments
- $0.0
- Employees
- 18
- Location
- Mishawaka, IN
- Founding
- 07/2019
- Data as of
- 12/2021
- EIN
- 35-0932142
Organization Overview
Tlcu Financial is located in Mishawaka, IN. The organization was established in 2019. 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, Tlcu Financial employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tlcu Financial 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, Tlcu Financial generated $2.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.4% each year. All expenses for the organization totaled $1.6m during the year ending 12/2021. While expenses have increased by 4.0% 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
DEPOSIT/LENDING PROVIDING LOANS AND SAVINGS TO MEMBERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED 1,082 ACCOUNTS WITH $17,765,634 IN LOANS AND 8,316 ACCOUNTS WITH SAVINGS OF $44,310,329.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kendra Fleckner President/ceo | Officer | 40 | $77,466 |
Carol Smith VP Accouting | Officer | 40 | $62,032 |
Nancy Sherk VP Lending | Officer | 40 | $61,708 |
Deric Eggelston Chairman | Trustee | 1 | $0 |
Victor Kasznia Vice Chairman | Trustee | 1 | $0 |
Janet Donath Treasurer/secretary | 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 | $665,222 |
| Investment income | $431,994 |
| 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 | $2,018,780 |
| 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. | $233,146 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $398,306 |
| Pension plan accruals and contributions | $10,024 |
| Other employee benefits | $39,236 |
| Payroll taxes | $41,308 |
| 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 | $4,019 |
| Fees for services: Other | $40,437 |
| Advertising and promotion | $44,612 |
| Office expenses | $242,091 |
| Information technology | $28,627 |
| Royalties | $0 |
| Occupancy | $110,592 |
| Travel | $22,866 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $729 |
| Interest | $71,294 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $12,662 |
| Total functional expenses | $1,630,838 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $865,067 |
| Savings and temporary cash investments | $2,604,096 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $71,599 |
| Loans from Officers, Directors, or Controlling Persons | $303,075 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $17,462,559 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $67,087 |
| Net Land, buildings, and equipment | $1,023,923 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $26,839,100 |
| Intangible assets | $0 |
| Other assets | $2,452,203 |
| Total assets | $51,688,709 |
| Accounts payable and accrued expenses | $401,727 |
| 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 | $44,310,329 |
| Total liabilities | $44,712,056 |
| 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 | $6,976,653 |
| Total liabilities and net assets/fund balances | $51,688,709 |
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First Northern Credit Union Chicago, IL | $376,782,772 | $14,919,062 |
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