Bluffton Motor Works Franklin Electric Employees Credit Union is located in Bluffton, 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bluffton Motor Works Franklin Electric Employees 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, Bluffton Motor Works Franklin Electric Employees Credit Union generated $32.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (18.5%) each year. All expenses for the organization totaled $41.6k during the year ending 12/2021. 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
CREDIT UNION: A SAVINGS AND LOANS FINANCIAL INSTITUTION TO SERVE OUR MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NONE
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Kathryn Durham Manager | OfficerTrustee | 21 | $27,851 |
Carla Ivey Vice-Chairperson | OfficerTrustee | 0.5 | $0 |
Timothy Wyatt Chairperson | OfficerTrustee | 0.5 | $0 |
Cindy Buck Board Member | Trustee | 0.5 | $0 |
Lucas Miller Board Member | Trustee | 0.5 | $0 |
Daniel Mcfarren Board Member | Trustee | 0.5 | $0 |
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 | $14,777 |
Investment income | $8,429 |
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 | $32,433 |
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 | $189 |
Compensation of current officers, directors, key employees. | $27,851 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $0 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $0 |
Payroll taxes | $0 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $2,120 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $550 |
Advertising and promotion | $0 |
Office expenses | $629 |
Information technology | $755 |
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 | $0 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $0 |
Insurance | $0 |
All other expenses | $151 |
Total functional expenses | $41,597 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $58,209 |
Savings and temporary cash investments | $913,954 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $923 |
Loans from Officers, Directors, or Controlling Persons | $6,804 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $115,220 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $8,406 |
Net Land, buildings, and equipment | $0 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $11,897 |
Total assets | $1,115,413 |
Accounts payable and accrued expenses | $5,912 |
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 | $0 |
Total liabilities | $5,912 |
Net assets without donor restrictions | $0 |
Net assets with donor restrictions | $0 |
Capital stock or trust principal, or current funds | $879,463 |
Paid-in or capital surplus, or land, building, or equipment fund | $95,067 |
Retained earnings, endowment, accumulated income, or other funds | $134,971 |
Total liabilities and net assets/fund balances | $1,115,413 |
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