Chicago Fire-Fighters Credit Union
- Assets
- $77.6m
- Revenue
- $2.4m
- Investments
- $800.0k
- Employees
- 7
- Location
- Chicago, IL
- Founding
- 10/1937
- Data as of
- 12/2021
- EIN
- 36-0862203
Organization Overview
Chicago Fire-Fighters Credit Union is located in Chicago, IL. The organization was established in 1937. According to its NTEE Classification (M24) the organization is classified as: Fire Prevention, under the broad grouping of Public Safety, Disaster Preparedness & Relief and related organizations. As of 12/2021, Chicago Fire-Fighters Credit Union employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Chicago Fire-Fighters 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, Chicago Fire-Fighters Credit Union generated $2.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.1% each year. All expenses for the organization totaled $1.9m during the year ending 12/2021. While expenses have increased by 5.2% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
CREDIT UNION TO PROMOTE THRIFT AND PROVIDE LOW COST LOANS TO OUR MEMBERS THIS IS ACCOMPLISHED ON A COOP NONPROFIT BASIS
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROMOTE THRIFT AND PROVIDE LOW COST LOANS TO OUR MEMBERS. THIS IS ACCOMPLISHED ON A CO-OPERATIVE NON-PROFIT BASIS FOR THE MUTUAL BENEFIT OF OUR MEMBERSHIP
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert S Reynolds Presidenttreasurer | Officer | 40 | $184,150 |
Gloria L Hnojsky Vpsecretary | Officer | 40 | $167,330 |
Margaret L Doran Operations Manager | 40 | $100,800 | |
Michael V Dudak Chairman | Trustee | 1 | $0 |
Gregory M Kurcab Director | Trustee | 1 | $0 |
William E Meyer Sr 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 | $1,844,780 |
| Investment income | $101,266 |
| 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 | $2,413,606 |
| 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. | $403,201 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $366,265 |
| Pension plan accruals and contributions | $17,176 |
| Other employee benefits | $118,689 |
| Payroll taxes | $51,729 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,101 |
| Fees for services: Accounting | $7,745 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $26,704 |
| Office expenses | $55,788 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $91,054 |
| Travel | $12,550 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $240 |
| Interest | $241,059 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $60,924 |
| Insurance | $25,713 |
| All other expenses | $215,943 |
| Total functional expenses | $1,902,278 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,216,226 |
| Savings and temporary cash investments | $32,004,731 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,065 |
| Loans from Officers, Directors, or Controlling Persons | $53,609 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $34,824,998 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,027,565 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $800,000 |
| Investments—program-related | $6,974,000 |
| Intangible assets | $0 |
| Other assets | $727,238 |
| Total assets | $77,630,432 |
| Accounts payable and accrued expenses | $184,531 |
| 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 | $68,223,248 |
| Total liabilities | $68,407,779 |
| 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 | $9,222,653 |
| Total liabilities and net assets/fund balances | $77,630,432 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Utica Township Volunteer Fire- Fighters Assn Utica, IN | $1,476,102 | $4,113,982 |
The Backstoppers Inc Saint Louis, MO | $58,482,364 | $10,650,014 |
Scott Township Volunteer Fire Dept Evansville, IN | $1,446,262 | $3,137,788 |
Honey Creek Township Volunteer Firefighters Inc Terre Haute, IN | $3,011,460 | $2,456,584 |
Sun Prairie Fire & Rescue Company Sun Prairie, WI | $322,315 | $2,382,259 |
Firefighters Credit Union Indianapolis, IN | $84,585,258 | $2,760,339 |
Washington Volunteer Fire Department And Rescue Squad Inc Washington, IL | $2,009,160 | $2,317,553 |
Chicago Fire-Fighters Credit Union Chicago, IL | $77,630,432 | $2,413,606 |
South Oldham Fire Department Inc Crestwood, KY | $4,727,663 | $2,106,102 |
National Association Of Fire Equipment Distributors Inc Chicago, IL | $2,496,644 | $1,753,895 |
Pinckneyville Ambulance Service Pinckneyville, IL | $2,128,254 | $1,765,041 |
Zionsville Volunteer Fire Department Incorporated Zionsville, IN | $0 | $301,236 |