Landmark Credit Union
- Assets
- $115.0m
- Revenue
- $5.0m
- Investments
- $0.0
- Employees
- 44
- Location
- Danville, IL
- Founding
- 01/1944
- Data as of
- 12/2023
- EIN
- 37-0564965
Organization Overview
Landmark Credit Union is located in Danville, IL. The organization was established in 1944. 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, Landmark Credit Union employed 44 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Landmark 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, Landmark Credit Union generated $5.0m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 7.6% each year. All expenses for the organization totaled $4.6m during the year ending 12/2023. While expenses have increased by 8.4% per year over the past 6 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO ASSIST OUR MEMBERS IN THE MANAGEMENT OF THEIR FINANCIAL WELL-BEING BY PROVIDING LOANS, SAVINGS ACCOUNTS AND OTHER FINANCIAL SERVICES IN A FRIENDLY AND PROFESSIONAL MANNER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RECEIVED AND PROCESSED SAVINGS DEPOSITS FOR NEW MEMBERS, PROCESS NEW LOANS FOR MEMBERS AND PROVIDE FINANCIAL SERVICES TO OVER 10,000 MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carl Robertson Chair | OfficerTrustee | 2 | $0 |
Amber Byram Vice Chair | OfficerTrustee | 2 | $0 |
Ormal Handley Jr Director | Trustee | 2 | $0 |
Gerald Block Director | Trustee | 2 | $0 |
Olivia Humphreys Director | Trustee | 2 | $0 |
Rex Richards Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mid Illinois Concrete And Excavating Concrete And Excavating | 12/30/23 | $346,124 |
Tcbk Construction Inc Construction | 12/30/23 | $107,415 |
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 | $4,014,007 |
| Investment income | $1,007,268 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$4,058 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,017,217 |
| 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. | $484,614 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $818,467 |
| Pension plan accruals and contributions | $234,834 |
| Other employee benefits | $120,691 |
| Payroll taxes | $105,377 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $231,524 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $194,068 |
| Advertising and promotion | $56,492 |
| Office expenses | $298,842 |
| Information technology | $144,322 |
| Royalties | $0 |
| Occupancy | $313,364 |
| Travel | $21,127 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $229,640 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $229,312 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $4,586,847 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,901,012 |
| Savings and temporary cash investments | $6,555,722 |
| 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 | $42,423,662 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $366,852 |
| Net Land, buildings, and equipment | $3,218,808 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $57,891,451 |
| Intangible assets | $0 |
| Other assets | $1,626,338 |
| Total assets | $114,983,845 |
| Accounts payable and accrued expenses | $2,479,938 |
| 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 | $101,377,439 |
| Total liabilities | $103,857,377 |
| 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 | $11,126,468 |
| Total liabilities and net assets/fund balances | $114,983,845 |