Synergy Partners Credit Union
- Assets
- $13.4m
- Revenue
- $363.4k
- Investments
- $108.7k
- Employees
- 3
- Location
- Chicago, IL
- Founding
- 01/1935
- Data as of
- 12/2022
- EIN
- 36-1679800
Organization Overview
Synergy Partners Credit Union is located in Chicago, IL. The organization was established in 1935. 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, Synergy Partners Credit Union employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Synergy Partners 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, Synergy Partners Credit Union generated $363.4k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.1%) each year. All expenses for the organization totaled $350.9k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (0.1%) per year over the past 8 years. 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 VISA CARD LOANS TO MEMBERS. THE NUMBER OF LOANS OUTSTANDING AT 12/31/22 WAS 300 FOR A TOTAL OF $2,027,423.
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 1,542 IN THE AMOUNT OF $10,623,901.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brian E Blaszak President-Treasurer | OfficerTrustee | 40 | $66,950 |
Sonia Perez Vp-Assistant Treasurer | Trustee | 40 | $44,844 |
Edward L Harnisch Vice Chair | OfficerTrustee | 0.5 | $0 |
Norbert Binkowski Secretary | OfficerTrustee | 0.5 | $0 |
Andrew Malevitis Chairman | OfficerTrustee | 0.5 | $0 |
Edward Jarmuszka Director | Trustee | 0.25 | $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 | $178,122 |
| Investment income | $159,278 |
| 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 | $363,400 |
| 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. | $119,392 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $32,139 |
| Pension plan accruals and contributions | $3,389 |
| Other employee benefits | $2,539 |
| Payroll taxes | $11,419 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $10,700 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,281 |
| Office expenses | $70,369 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $48,285 |
| 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 | $12,890 |
| Insurance | $4,937 |
| All other expenses | $443 |
| Total functional expenses | $350,911 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $126,701 |
| Savings and temporary cash investments | $0 |
| 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 | $1,987,608 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $25,761 |
| Net Land, buildings, and equipment | $73,622 |
| Investments—publicly traded securities | $10,992,557 |
| Investments—other securities | $108,694 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $35,925 |
| Total assets | $13,350,868 |
| Accounts payable and accrued expenses | $13,847 |
| 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 | $10,623,901 |
| Total liabilities | $10,637,748 |
| 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 | $2,713,120 |
| Total liabilities and net assets/fund balances | $13,350,868 |
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|---|---|---|
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