Jackson County Co-Op Credit Union
- Assets
- $30.5m
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 14
- Location
- Seymour, IN
- Founding
- 10/2019
- Data as of
- 12/2022
- EIN
- 35-6022534
Organization Overview
Jackson County Co-Op Credit Union is located in Seymour, 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 12/2022, Jackson County Co-Op Credit Union employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Jackson 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 12/2022, Jackson County Co-Op Credit Union generated $1.3m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.0% each year. All expenses for the organization totaled $1.2m during the year ending 12/2022. While expenses have increased by 4.6% per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
STATE CHARTERED CREDIT UNION PROVIDING COMPETITIVE AND REASONABLY PRICED LOAN AND SAVING SERVICES TO APPROXIMATELY 996 MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE SAVINGS AND LOAN PRODUCTS TO APPROXIMATELY 996 MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ben Thompson Chairman | OfficerTrustee | 1 | $0 |
Charlotte Guinn Secretary/tr | OfficerTrustee | 1 | $0 |
Jeff Davis Director | Trustee | 1 | $0 |
Chad Stuckwisch Director | Trustee | 1 | $0 |
Ed Stuckwisch Vice Chairma | OfficerTrustee | 1 | $0 |
William Borcherding 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 | $993,350 |
| Investment income | $134,124 |
| 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 | $1,299,751 |
| 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. | $295,369 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $190,554 |
| Pension plan accruals and contributions | $14,438 |
| Other employee benefits | $61,928 |
| Payroll taxes | $36,911 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $19,650 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $129,131 |
| Advertising and promotion | $28,140 |
| Office expenses | $148,978 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $33,852 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $9,537 |
| Interest | $9 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $36,289 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,174,108 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $415,958 |
| Savings and temporary cash investments | $6,961,307 |
| 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 | $22,389,247 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $380,567 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $330,462 |
| Total assets | $30,477,541 |
| Accounts payable and accrued expenses | $190,775 |
| 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 | $25,956,080 |
| Total liabilities | $26,146,855 |
| 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 | $4,330,686 |
| Total liabilities and net assets/fund balances | $30,477,541 |