Land Of Lincoln Credit Union
- Assets
- $380.8m
- Revenue
- $22.5m
- Investments
- $4.5m
- Employees
- 176
- Location
- Decatur, IL
- Founding
- 07/1934
- Data as of
- 12/2022
- 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 12/2022, Land Of Lincoln Credit Union employed 176 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 12/2022, Land Of Lincoln Credit Union generated $22.5m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.2% each year. All expenses for the organization totaled $19.2m during the year ending 12/2022. While expenses have increased by 4.8% per year over the past 8 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 EDUCATION AND SERVICES TO OUR MEMBERS SO THEY CAN ACHIEVE FINANCIAL SUCCESS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED 7,527 CONSUMER LOANS TO MEMBERS.
PROVIDED MORTGAGE LOANS TO 325 MEMBERS.
PROVIDED SAVINGS VEHICLES AND OTHER FINANCIAL SERVICES TO 34,988 MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tony Brown Chair | OfficerTrustee | 1 | $0 |
David Venter Vice Chair | OfficerTrustee | 0.5 | $0 |
Landon Page Secretary | OfficerTrustee | 0.5 | $0 |
Ruth Waller Treasurer | OfficerTrustee | 0.5 | $0 |
Robert Allen Board Member | Trustee | 0.5 | $0 |
Mark Crawford Board Member | Trustee | 0.5 | $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 | $20,713,492 |
| Investment income | $1,652,202 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $84,660 |
| Net Gain/Loss on Asset Sales | $143 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $22,450,497 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $101,647 |
| 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. | $647,116 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,040,492 |
| Pension plan accruals and contributions | $344,732 |
| Other employee benefits | $574,244 |
| Payroll taxes | $522,878 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $115,926 |
| Fees for services: Accounting | $145,501 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $523,419 |
| Advertising and promotion | $1,081,262 |
| Office expenses | $1,287,230 |
| Information technology | $681,628 |
| Royalties | $0 |
| Occupancy | $1,145,376 |
| Travel | $147,133 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $12,000 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $459,780 |
| Insurance | $0 |
| All other expenses | $945,363 |
| Total functional expenses | $19,168,310 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,550,255 |
| Savings and temporary cash investments | $4,710,718 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $991,956 |
| Loans from Officers, Directors, or Controlling Persons | $2,710,556 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $243,412,212 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $437,793 |
| Net Land, buildings, and equipment | $11,235,396 |
| Investments—publicly traded securities | $99,365,457 |
| Investments—other securities | $4,467,233 |
| Investments—program-related | $0 |
| Intangible assets | $221,951 |
| Other assets | $9,736,203 |
| Total assets | $380,839,730 |
| Accounts payable and accrued expenses | $1,807,030 |
| 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 | $5,000,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $344,301,129 |
| Total liabilities | $351,108,159 |
| 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 | $29,731,571 |
| Total liabilities and net assets/fund balances | $380,839,730 |
Grants Awarded
Over the last fiscal year, Land Of Lincoln Credit Union has awarded $40,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
CHELP PURPOSE: ORGANIZATION SUPPORT | $20,000 |
EISENHOWER ELITE ENERGY SHOW CHOIR PURPOSE: ORGANIZATION SUPPORT | $10,000 |
DECATUR SCHOOL DISTRICT PURPOSE: ORGANIZATION SUPPORT | $10,000 |