Department Of Financial Institution Division Of Credit Unions In Ind
- Assets
- $19.5m
- Revenue
- $1.0m
- Investments
- $0.0
- Employees
- 4
- Location
- Loogootee, IN
- Founding
- 05/1969
- Data as of
- 12/2023
- EIN
- 35-0989101
Organization Overview
Department Of Financial Institution Division Of Credit Unions In Ind, operating under the name Martin County Co-Op Credit Union, is located in Loogootee, IN. The organization was established in 1969. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Martin County Co-Op Credit Union employed 4 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Martin County Co-Op 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 12/2023, Martin County Co-Op Credit Union generated $1.0m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 7.5% each year. All expenses for the organization totaled $674.1k during the year ending 12/2023. While expenses have increased by 6.2% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
STATE CHARTERED COOPERATIVE CREDIT UNION, OFFERING LOANS AND DEPOSITS TO ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
STATE CHARTERED CREDIT UNION
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brandon Carrico Vice Chair | Trustee | 2 | $1,500 |
Jenell Hoffman Director | Trustee | 2 | $1,500 |
Carolyn Mcguire Treasurer | Trustee | 2 | $1,500 |
John A Walker Chairman | Trustee | 2 | $1,200 |
Rosalle Wininger Director | Trustee | 2 | $1,200 |
Donnie Reinhart Committee Me | Trustee | 2 | $1,080 |
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 | $1,003,112 |
| Investment income | $0 |
| 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 | $1,003,112 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $160,631 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $32,948 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,410 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $6,107 |
| Advertising and promotion | $1,568 |
| Office expenses | $77,729 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $13,874 |
| Travel | $9,470 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $320,641 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $674,124 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,154,182 |
| Savings and temporary cash investments | $1,361,000 |
| 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 | $15,757,122 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $15,237 |
| Net Land, buildings, and equipment | $51,774 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $148,707 |
| Total assets | $19,488,022 |
| Accounts payable and accrued expenses | $0 |
| 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 | $16,469,628 |
| Total liabilities | $16,469,628 |
| 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 | $996,070 |
| Retained earnings, endowment, accumulated income, or other funds | $2,022,324 |
| Total liabilities and net assets/fund balances | $19,488,022 |