Partnership Financial Credit Union is located in Morton Grove, IL. The organization was established in 1958. 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 12/2021, Partnership Financial Credit Union employed 70 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Partnership Financial 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, Partnership Financial Credit Union generated $9.6m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.3% each year . All expenses for the organization totaled $7.0m during the year ending 12/2021. While expenses have increased by 6.9% 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
STATE CHARTERED CREDIT UNION SERVING OVER 15,000 MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MAINTAINED OVER 28,300 DEPOSIT ACCOUNTS AND LOAN ACCOUNTS FOR MEMBERS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Mary Ann Pusateri Chief Executive Officer | Officer | 40 | $408,314 |
Theresa Guerriero Executive VP Lending | Officer | 40 | $154,783 |
Dushan Stojanovic President | 40 | $139,219 | |
Marisa Conforti Executive VP Operations | 40 | $120,483 | |
Steven Underwood Chair | OfficerTrustee | 4 | $0 |
Vanessa Calloway Secretary | OfficerTrustee | 4 | $0 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Cu Answers Data Processing | 12/30/20 | $151,805 |
Midwest Architectural Millwork Desi Millwork And Office Design | 12/30/20 | $141,725 |
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 | $6,188,700 |
Investment income | $2,242,582 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $31,518 |
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 | $9,633,298 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $31,200 |
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. | $822,799 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $2,128,317 |
Pension plan accruals and contributions | $101,559 |
Other employee benefits | $307,510 |
Payroll taxes | $191,086 |
Fees for services: Management | $0 |
Fees for services: Legal | $6,999 |
Fees for services: Accounting | $37,200 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $0 |
Advertising and promotion | $58,905 |
Office expenses | $436,939 |
Information technology | $107,130 |
Royalties | $0 |
Occupancy | $425,493 |
Travel | $11,115 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $33,218 |
Interest | $75,339 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $314,559 |
Insurance | $85,220 |
All other expenses | $306,234 |
Total functional expenses | $6,964,655 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $1,856,966 |
Savings and temporary cash investments | $14,403,490 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $0 |
Loans from Officers, Directors, or Controlling Persons | $2,347,203 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $119,768,358 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $461,956 |
Net Land, buildings, and equipment | $8,151,297 |
Investments—publicly traded securities | $72,297,705 |
Investments—other securities | $137,112,109 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $5,445,297 |
Total assets | $361,844,381 |
Accounts payable and accrued expenses | $2,129,778 |
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 | $324,201,491 |
Total liabilities | $326,331,269 |
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 | $35,513,112 |
Total liabilities and net assets/fund balances | $361,844,381 |
Organization Name | Assets | Revenue |
---|---|---|
University Of Illinois Community Credit Union Champaign, IL | $475,743,912 | $22,792,231 |
Land Of Lincoln Credit Union Decatur, IL | $357,439,691 | $20,389,555 |
Heritage Credit Union Deforest, WI | $461,320,772 | $20,193,229 |
Siu Credit Union Carbondale, IL | $404,439,735 | $19,509,001 |
Healthcare Associates Credit Union Naperville, IL | $470,519,753 | $19,024,406 |
Financial Plus Credit Union Ottawa, IL | $450,128,379 | $18,435,940 |
Streator Onized Credit Union Streator, IL | $322,868,914 | $20,466,912 |
Arsenal Credit Union Arnold, MO | $349,876,786 | $18,878,245 |
Kane County Teachers Credit Union Elgin, IL | $376,184,077 | $16,257,755 |
Via Credit Union Marion, IN | $517,398,165 | $18,473,040 |
First Northern Credit Union Chicago, IL | $376,782,772 | $14,919,062 |
Abri Credit Union Romeoville, IL | $405,514,463 | $14,619,681 |