Ih Mississippi Valley Credit Union
- Assets
- $2.1b
- Revenue
- $131.3m
- Investments
- $28.2m
- Employees
- 562
- Location
- Moline, IL
- Founding
- 10/1936
- Data as of
- 12/2023
- EIN
- 36-2523206
Organization Overview
Ih Mississippi Valley Credit Union is located in Moline, IL. The organization was established in 1936. 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 12/2023, Ih Mississippi Valley Credit Union employed 562 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ih Mississippi Valley 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 12/2023, Ih Mississippi Valley Credit Union generated $131.3m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 11.6% each year . All expenses for the organization totaled $121.5m during the year ending 12/2023. While expenses have increased by 11.8% per year over the past 9 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.
Since 2014, Ih Mississippi Valley Credit Union has awarded 67 individual grants totaling $599,537. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE CONSUMER, MORTGAGE, AND BUSINESS LOANS AND DEPOSIT SERVICES TO OVER 143,655 MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE CONSIDERABLE CONSUMER, BUSINESS AND REAL ESTATE LOANS TO MEMBERS.
PROVIDE DEPOSITORY ACCOUNTS TO APPROXIMATELY 143,655 MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kristin Berry Vice Chairperson | OfficerTrustee | 2 | $0 |
Jeff Carr Director | Trustee | 2 | $0 |
Tim Considine Director | Trustee | 2 | $0 |
Megan Early Director | Trustee | 2 | $0 |
Thomas Chip Irwin Board Secretary/treasurer | OfficerTrustee | 2 | $0 |
Sam Kupresin Board Chairman | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Estes Company Llc Dba Estes Construction Construction | 12/30/23 | $2,734,165 |
Cu Alliance Loan Services | 12/30/23 | $1,424,478 |
Heartland Business Systems Business Systems | 12/30/23 | $653,306 |
Hurricane Labs Llc Cybersecurity | 12/30/23 | $470,062 |
Texas Series Of Lockton Companies Llc Risk Management | 12/30/23 | $519,326 |
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 | $121,963,365 |
| Investment income | $8,102,593 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $212,129 |
| Net Gain/Loss on Asset Sales | $1,010,609 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $131,288,696 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $258,828 |
| Grants and other assistance to domestic individuals. | $30,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,509,864 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $26,469,787 |
| Pension plan accruals and contributions | $1,970,043 |
| Other employee benefits | $3,543,686 |
| Payroll taxes | $2,252,175 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $159,939 |
| Fees for services: Accounting | $360,949 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,283,837 |
| Advertising and promotion | $1,857,540 |
| Office expenses | $5,191,906 |
| Information technology | $6,789,848 |
| Royalties | $0 |
| Occupancy | $2,134,828 |
| Travel | $757,047 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $5,212,755 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,511,551 |
| Insurance | $0 |
| All other expenses | $5,025,513 |
| Total functional expenses | $121,494,213 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $178,922,687 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $19,009,538 |
| Loans from Officers, Directors, or Controlling Persons | $17,371,308 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,664,539,890 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $6,322,230 |
| Net Land, buildings, and equipment | $56,637,186 |
| Investments—publicly traded securities | $142,979,801 |
| Investments—other securities | $28,229,645 |
| Investments—program-related | $0 |
| Intangible assets | $1,829,267 |
| Other assets | $23,366,257 |
| Total assets | $2,139,207,809 |
| Accounts payable and accrued expenses | $26,419,845 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $43,620 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $122,000,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,815,502,858 |
| Total liabilities | $1,963,966,323 |
| 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 | $175,241,486 |
| Total liabilities and net assets/fund balances | $2,139,207,809 |
Grants Awarded
Over the last fiscal year, Ih Mississippi Valley Credit Union has awarded $90,250 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
WESTERN ILLINOIS UNIVERSITY FOUNDATION PURPOSE: CORPORATE DONATION | $8,500 |
LIVING LANDS & WATERS PURPOSE: CORPORATE DONATION | $10,000 |
CREDIT UNION NATIONAL ASSOCIATION PURPOSE: CORPORATE DONATION | $15,000 |
THE GRAY MATTERS COLLECTIVE PURPOSE: CORPORATE DONATION | $5,250 |
ILLINOIS CREDIT UNION LEAGUE PURPOSE: CORPORATE DONATION | $26,000 |
NATIONAL CREDIT UNION FOUNDATION INC PURPOSE: CORPORATE DONATION | $7,500 |