Revity Credit Union
- Assets
- $455.2m
- Revenue
- $24.5m
- Investments
- $2.1m
- Employees
- 148
- Location
- Granite City, IL
- Founding
- Data as of
- 12/2023
- EIN
- 37-0646488
Organization Overview
Revity Credit Union is located in Granite City, IL. As of 12/2023, Revity Credit Union employed 148 individuals. Revity 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, Revity Credit Union generated $24.5m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 4.7% each year. All expenses for the organization totaled $22.9m during the year ending 12/2023. While expenses have increased by 4.7% per year over the past 9 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 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. IN ADDITION TO A REGULARLY QUALIFIED MEMBER, THE SPOUSE OF A MEMBER, THE BLOOD OR ADOPTIVE RELATIVES OF EITHER OF THEM AND THEIR SPOUSES MAY BE MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDES COOPERATIVE FINANCIAL SERVICES TO 37,339 MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jim Devine Chairperson | OfficerTrustee | 1 | $0 |
Ken Newton Vice-Chairperson | OfficerTrustee | 1 | $0 |
Kim Frantz Secretary | OfficerTrustee | 1 | $0 |
Barry Stuart Director | Trustee | 1 | $0 |
George Mitchell Director | Trustee | 1 | $0 |
Kenneth Shipp Director | 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 | $17,083,989 |
| Investment income | $6,280,366 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $332,968 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $24,450,672 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,638,662 |
| Pension plan accruals and contributions | $348,237 |
| Other employee benefits | $1,366,818 |
| Payroll taxes | $452,432 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $16,627 |
| Fees for services: Accounting | $75,150 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,358,102 |
| Advertising and promotion | $713,106 |
| Office expenses | $3,985,639 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $651,998 |
| Travel | $124,235 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $3,425,574 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $674,958 |
| Insurance | $0 |
| All other expenses | $44,026 |
| Total functional expenses | $22,855,049 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,422,524 |
| Savings and temporary cash investments | $22,255,693 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,071,804 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $245,602,165 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $11,686,335 |
| Investments—publicly traded securities | $148,281,725 |
| Investments—other securities | $2,058,652 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $19,775,068 |
| Total assets | $455,153,966 |
| Accounts payable and accrued expenses | $3,653,559 |
| 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 | $25,000,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $388,177,126 |
| Total liabilities | $416,830,685 |
| 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 | $38,323,281 |
| Total liabilities and net assets/fund balances | $455,153,966 |