Madco Credit Union
- Assets
- $1.6m
- Revenue
- $57.4k
- Investments
- $0.0
- Employees
- 2
- Location
- Edwardsville, IL
- Founding
- Data as of
- 12/2016
- EIN
- 37-1118625
Organization Overview
Madco Credit Union is located in Edwardsville, IL. As of 12/2015, Madco Credit Union employed 2 individuals. Madco 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 12/2016, Madco Credit Union generated $57.4k in total revenue. This represents relatively stable growth, over the past 2 years the organization has increased revenue by an average of 0.5% each year. All expenses for the organization totaled $66.2k during the year ending 12/2016. While expenses have increased by 0.9% per year over the past 2 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
2016
Describe the Organization's Mission:
Part 3 - Line 1
THE MAIN PURPOSE OF MADCO CREDIT UNION IS TO PROVIDE SHARE ACCOUNTS AND LOANS TO OUR MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED CONSUMER LOANS TO 121 MEMBERS.
RECEIVED DEPOSITS ON SAVINGS FROM 579 MEMBERS.
RECEIVED DEPOSITS AND ISSUED CHRISTMAS CLUB CHECKS TO 135 MEMBERS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marcia Prater Treasurer | Officer | 20 | $31,005 |
Wendy Leonard Director | Trustee | 8 | $4,210 |
Patricia Schaake Secretary | Officer | 1 | $0 |
Joseph Dauderman Vice Chairperson | Trustee | 1 | $0 |
Debra Ming-Mendoza Director | Trustee | 0 | $0 |
Myrna Abert Chairman | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $3,472 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $57,444 |
| Statement of Expenses | |
|---|---|
| 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. | $36,496 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $2,787 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $5,396 |
| Information technology | $4,958 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $229 |
| Insurance | $4,895 |
| All other expenses | $1,062 |
| Total functional expenses | $66,154 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $96,066 |
| Savings and temporary cash investments | $724,734 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $102,387 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $611,378 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $3,665 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $21,067 |
| Total assets | $1,559,756 |
| Accounts payable and accrued expenses | $439 |
| 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 | $0 |
| Total liabilities | $439 |
| 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 |
| Total liabilities and net assets/fund balances | $1,559,317 |
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