Land Of Lincoln Credit Union
- Assets
- $357.4m
- Revenue
- $20.4m
- Investments
- $2.1m
- Employees
- 165
- Location
- Decatur, IL
- Founding
- 07/1934
- Data as of
- 12/2021
- EIN
- 37-0643547
Organization Overview
Land Of Lincoln Credit Union is located in Decatur, IL. The organization was established in 1934. 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, Land Of Lincoln Credit Union employed 165 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Land Of Lincoln 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, Land Of Lincoln Credit Union generated $20.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.6% each year. All expenses for the organization totaled $16.9m during the year ending 12/2021. While expenses have increased by 3.6% 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
TO PROVIDE EDUCATION AND SERVICES TO OUR MEMBERS SO THEY CAN ACHIEVE FINANCIAL SUCCESS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED 6,660 CONSUMER LOANS TO MEMBERS
PROVIDED MORTGAGE LOANS TO 382 MEMBERS
PROVIDED SAVINGS VEHICLES AND OTHER FINANCIAL SERVICES TO 34,055 MEMBERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Ares President/ceo | Officer | 45 | $244,757 |
Ben Austin Cio | 45 | $157,460 | |
Beverly Davis CFO | Officer | 45 | $155,430 |
Chris Smith Cco | 45 | $124,639 | |
Todd Hogan Facilities/operations | 45 | $101,081 | |
Calvin Green Board Member/chair | Trustee | 1 | $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 | $19,072,994 |
| Investment income | $1,295,838 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$35,764 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $20,389,555 |
| 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. | $433,935 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,369,987 |
| Pension plan accruals and contributions | $300,509 |
| Other employee benefits | $619,337 |
| Payroll taxes | $470,637 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $85,284 |
| Fees for services: Accounting | $108,491 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $184,613 |
| Advertising and promotion | $643,509 |
| Office expenses | $696,937 |
| Information technology | $1,349,149 |
| Royalties | $0 |
| Occupancy | $649,007 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $70,450 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $687,166 |
| Insurance | $105,208 |
| All other expenses | $1,078,194 |
| Total functional expenses | $16,942,682 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,439,852 |
| Savings and temporary cash investments | $29,759,755 |
| 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 | $207,909,352 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $855,270 |
| Net Land, buildings, and equipment | $10,153,885 |
| Investments—publicly traded securities | $96,603,871 |
| Investments—other securities | $2,065,199 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,652,507 |
| Total assets | $357,439,691 |
| Accounts payable and accrued expenses | $1,491,845 |
| 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 | $320,139,139 |
| Total liabilities | $321,630,984 |
| 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 | $35,808,707 |
| Total liabilities and net assets/fund balances | $357,439,691 |
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