Decatur Earthmover Credit Union
- Assets
- $314.9m
- Revenue
- $12.9m
- Investments
- $10.0m
- Employees
- 146
- Location
- Forsyth, IL
- Founding
- 01/1980
- Data as of
- 12/2021
- EIN
- 37-6026191
Organization Overview
Decatur Earthmover Credit Union is located in Forsyth, IL. The organization was established in 1980. 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, Decatur Earthmover Credit Union employed 146 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Decatur Earthmover 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, Decatur Earthmover Credit Union generated $12.9m 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 $12.1m during the year ending 12/2021. While expenses have increased by 2.0% 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 LOANS TO CURRENT/NEW MEMBERS, RECEIVE DEPOSITS ON SAVINGS FROM CURRENT/NEW MEMBERS, ISSUE CERTIFICATES OF DEPOSITS TO MEMBERS, PROVIDE HOME EQUITY AND FIRST MORTGAGE LOANS TO MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED NEW CONSUMER LOANS TO 4313 MEMBERS.
PROVIDED NEW MORTGAGES TO 206 MEMBERS
PROVIDED NEW CREDIT CARDS TO 387 MEMBERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Barry Schmidt President | OfficerTrustee | 40 | $249,090 |
Kim Carlson CFO | Officer | 40 | $178,619 |
Beth Perry Executive Vice President | Officer | 40 | $153,329 |
Katy Blakey Associate Vice President | Officer | 40 | $61,424 |
Mike Ferguson Director | Trustee | 0 | $0 |
John Kraft Director | Trustee | 0 | $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 | $7,521,219 |
| Investment income | $1,675,842 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $615 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $12,856,235 |
| 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. | $642,462 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,957,868 |
| Pension plan accruals and contributions | $273,280 |
| Other employee benefits | $918,599 |
| Payroll taxes | -$539,329 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $32,562 |
| Fees for services: Accounting | $43,558 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $87,896 |
| Fees for services: Other | $11,740 |
| Advertising and promotion | $434,623 |
| Office expenses | $615,690 |
| Information technology | $555,244 |
| Royalties | $0 |
| Occupancy | $548,184 |
| Travel | $18,065 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $45,589 |
| Interest | $8 |
| Payments to affiliates | $27,431 |
| Depreciation, depletion, and amortization | $788,960 |
| Insurance | $5,823 |
| All other expenses | $88,576 |
| Total functional expenses | $12,060,849 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,946,415 |
| Savings and temporary cash investments | $47,087,865 |
| 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 | $140,884,174 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,549,082 |
| Net Land, buildings, and equipment | $7,362,582 |
| Investments—publicly traded securities | $76,797,932 |
| Investments—other securities | $10,000,000 |
| Investments—program-related | $6,168,151 |
| Intangible assets | $98,925 |
| Other assets | $18,957,348 |
| Total assets | $314,852,474 |
| Accounts payable and accrued expenses | $6,972,183 |
| 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 | $280,106,407 |
| Total liabilities | $287,078,590 |
| 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 | $27,773,884 |
| Total liabilities and net assets/fund balances | $314,852,474 |
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