Northwest Community Credit Union
- Assets
- $64.5m
- Revenue
- $2.1m
- Investments
- $9.0m
- Employees
- 12
- Location
- Morton Grove, IL
- Founding
- 01/1980
- Data as of
- 12/2022
- EIN
- 36-2372079
Organization Overview
Northwest Community Credit Union is located in Morton Grove, IL. The organization was established in 1980. 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, Northwest Community Credit Union employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Northwest Community 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, Northwest Community Credit Union generated $2.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.8% each year. All expenses for the organization totaled $1.9m during the year ending 12/2022. While expenses have increased by 2.0% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE LOW COST LOAN AND DEPOSIT PRODUCTS TO OUR MEMBERSHIP ON A COOPERATIVE BASIS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROGRAM SERVICE REVENUE AND EXPENSES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jose Garcia President/ceo | OfficerTrustee | 40 | $173,408 |
Gabby Gomez VP | OfficerTrustee | 40 | $0 |
Emir Abinion Chairman Of Board | OfficerTrustee | 0 | $0 |
James Thompson Secretary | OfficerTrustee | 0 | $0 |
Leon Mitchell Vice Chairman | OfficerTrustee | 0 | $0 |
Ximena Granda Chair Supervisory Committee | OfficerTrustee | 0 | $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 | $1,725,949 |
| Investment income | $331,330 |
| 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 | $2,057,279 |
| 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. | $560,581 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $84,225 |
| Payroll taxes | $47,045 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,076 |
| Fees for services: Accounting | $35,292 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $105,907 |
| Advertising and promotion | $81,071 |
| Office expenses | $57,486 |
| Information technology | $146,780 |
| Royalties | $0 |
| Occupancy | $210,066 |
| Travel | $28,129 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $17,823 |
| Interest | $322,469 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $36,819 |
| Insurance | $49,609 |
| All other expenses | $65,361 |
| Total functional expenses | $1,918,895 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $446,474 |
| Savings and temporary cash investments | $3,455,944 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $260,304 |
| Loans from Officers, Directors, or Controlling Persons | $1,596,475 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $37,632,949 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $389,715 |
| Net Land, buildings, and equipment | $144,416 |
| Investments—publicly traded securities | $9,733,313 |
| Investments—other securities | $8,962,000 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,836,386 |
| Total assets | $64,457,976 |
| Accounts payable and accrued expenses | $214,132 |
| 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 | $58,814,177 |
| Total liabilities | $59,028,309 |
| Net assets without donor restrictions | $3,227,126 |
| Net assets with donor restrictions | $2,202,541 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $64,457,976 |