Acme Continental Credit Union
- Assets
- $57.4m
- Revenue
- $2.3m
- Investments
- $479.6k
- Employees
- 14
- Location
- Riverdale, IL
- Founding
- 12/1937
- Data as of
- 12/2022
- EIN
- 36-0703155
Organization Overview
Acme Continental Credit Union is located in Riverdale, IL. The organization was established in 1937. 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, Acme Continental Credit Union employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Acme Continental 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, Acme Continental Credit Union generated $2.3m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.1% each year. All expenses for the organization totaled $2.2m during the year ending 12/2022. While expenses have increased by 1.4% 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
ILLINOIS STATE CHARTERED CREDIT UNION OPERATED FOR THE MUTUAL BENEFIT OF ITS MEMBERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
CREDIT UNION MAKES AND SERVICES CONSUMER AND REAL ESTATE LOANS TO MEMBERS. THE NUMBER OF LOANS OUTSTANDING AT 12/31/22 WAS 1,900 FOR A TOTAL OF $17,489,771.
CREDIT UNION PAYS OUT DIVIDENDS TO ITS MEMBERS ON SHARE DEPOSIT ACCOUNTS AT A MARKET RATE OF INTEREST. TOTAL NUMBER OF SHARE ACCOUNTS AT 12/31/22 IS 5,428 IN THE AMOUNT OF $46,158,611.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Donald Bischof Chairperson | OfficerTrustee | 2 | $0 |
Gillie Beal Vice Chairperson | OfficerTrustee | 2 | $0 |
Mark Duffy President & Treasurer | OfficerTrustee | 40 | $133,468 |
David Kaczmarski Vice President & Secretary | OfficerTrustee | 40 | $75,731 |
Daniel Cotter Director | Trustee | 2 | $0 |
Rose Kube Director | Trustee | 2 | $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 | $1,642,025 |
| Investment income | $529,333 |
| 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 | $2,260,775 |
| 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. | $286,081 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $441,317 |
| Pension plan accruals and contributions | $18,206 |
| Other employee benefits | $137,106 |
| Payroll taxes | $48,667 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $29,425 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $64,023 |
| Advertising and promotion | $2,783 |
| Office expenses | $362,174 |
| Information technology | $238,317 |
| Royalties | $0 |
| Occupancy | $176,639 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,944 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $15,095 |
| Insurance | $35,914 |
| All other expenses | $0 |
| Total functional expenses | $2,151,403 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $353,838 |
| Savings and temporary cash investments | $2,067,565 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $202,287 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $17,227,094 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $64,885 |
| Net Land, buildings, and equipment | $281,606 |
| Investments—publicly traded securities | $36,552,594 |
| Investments—other securities | $479,578 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $160,022 |
| Total assets | $57,389,469 |
| Accounts payable and accrued expenses | $836,419 |
| 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 | $46,158,611 |
| Total liabilities | $46,995,030 |
| 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 | $10,394,439 |
| Total liabilities and net assets/fund balances | $57,389,469 |