The Perfect Circle Credit Union
- Assets
- $66.2m
- Revenue
- $3.2m
- Investments
- $33.3m
- Employees
- 34
- Location
- Hagerstown, IN
- Founding
- Data as of
- 12/2022
- EIN
- 35-6020587
Organization Overview
The Perfect Circle Credit Union is located in Hagerstown, IN. 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 12/2022, Perfect Circle Credit Union employed 34 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Perfect Circle 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 12/2022, Perfect Circle Credit Union generated $3.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.1% each year. All expenses for the organization totaled $2.9m during the year ending 12/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
COOPERATIVE FINANCIAL INSTITUTION
Describe the Organization's Program Activity:
Part 3 - Line 4a
CREDIT UNION PROGRAMS: SAVINGS BY MEMBERS TOTALLING $55,316,525.60
CREDIT UNION PROGRAMS: LOANS TO MEMBERS TOTALLING $25,728,217.56
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joshua Haney President | Officer | 40 | $103,483 |
Michele Curry Chairperson | Trustee | 1 | $0 |
Tina Davis Vice Chairperson | Trustee | 1 | $0 |
Jason Moore Secretary - Treasurer | Trustee | 1 | $0 |
Joe Backmeyer Director | Trustee | 1 | $0 |
Tim Reagan 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 | $1,462,252 |
| Investment income | $583,692 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$7,311 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,206,020 |
| 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. | $103,483 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,023,992 |
| Pension plan accruals and contributions | $31,288 |
| Other employee benefits | $91,451 |
| Payroll taxes | $82,889 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,063 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $26,763 |
| Fees for services: Other | $0 |
| Advertising and promotion | $90,065 |
| Office expenses | $203,838 |
| Information technology | $649,740 |
| Royalties | $0 |
| Occupancy | $180,744 |
| Travel | $5,151 |
| 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 | $70,217 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $2,910,959 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,069,709 |
| Savings and temporary cash investments | $3,759,620 |
| 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 | $25,728,218 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $178,476 |
| Net Land, buildings, and equipment | $877,492 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $33,337,035 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,256,575 |
| Total assets | $66,207,125 |
| Accounts payable and accrued expenses | $62,746 |
| Grants payable | $0 |
| Deferred revenue | $25,030 |
| 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 | $559,034 |
| Total liabilities | $646,810 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $60,896,851 |
| Paid-in or capital surplus, or land, building, or equipment fund | $836,429 |
| Retained earnings, endowment, accumulated income, or other funds | $3,827,035 |
| Total liabilities and net assets/fund balances | $66,207,125 |