Gcs Credit Union
- Assets
- $448.1m
- Revenue
- $19.6m
- Investments
- $1.5m
- Employees
- 160
- Location
- Granite City, IL
- Founding
- Data as of
- 12/2021
- EIN
- 37-0646488
Organization Overview
Gcs Credit Union is located in Granite City, IL. As of 12/2021, Gcs Credit Union employed 160 individuals. Gcs 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, Gcs Credit Union generated $19.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.7% each year. All expenses for the organization totaled $14.9m during the year ending 12/2021. 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 COOPERATIVE FINANCIAL SERVICES TO ANYONE WHO LIVES, WORKS OR ATTENDS SCHOOL WITHIN THE FOLLOWING ILLINOIS COUNTIES: SANGAMON, LOGAN, MACON, MARION, JEFFERSON, PERRY, JACKSON, WILLIAMSON, JERSEY, MACOUPIN, MONTGOMERY, MADISON, BOND, CLINTON, ST. CLAIR, MONROE, WASHINGTON AND RANDOLPH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDES COOPERATIVE FINANCIAL SERVICES TO 37,554 MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Keith Burton President | Officer | 40 | $218,260 |
Tamara Wofford Chief Financial Officer | Officer | 40 | $179,665 |
Jim Devine Vice Chairperson | OfficerTrustee | 1 | $0 |
Kim Frantz Secretary | OfficerTrustee | 1 | $0 |
Ken Newton Treasurer | OfficerTrustee | 1 | $0 |
Robert Lyles Chairperson | OfficerTrustee | 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 | $17,811,904 |
| Investment income | $1,342,770 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $50,660 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $19,603,489 |
| 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. | $397,925 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,639,995 |
| Pension plan accruals and contributions | $254,566 |
| Other employee benefits | $1,402,584 |
| Payroll taxes | $389,765 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $49,105 |
| Fees for services: Accounting | $50,400 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,123,228 |
| Advertising and promotion | $542,218 |
| Office expenses | $3,381,101 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $530,372 |
| Travel | $56,073 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $302,173 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $707,631 |
| Insurance | $0 |
| All other expenses | $9,301 |
| Total functional expenses | $14,901,006 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,018,629 |
| Savings and temporary cash investments | $53,428,658 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $793,529 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $231,881,857 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $5,162,832 |
| Investments—publicly traded securities | $132,034,273 |
| Investments—other securities | $1,483,652 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $19,285,631 |
| Total assets | $448,089,061 |
| Accounts payable and accrued expenses | $2,946,554 |
| 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 | $15,000,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $383,983,668 |
| Total liabilities | $401,930,222 |
| 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 | $46,158,839 |
| Total liabilities and net assets/fund balances | $448,089,061 |
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