Decatur Earthmover Credit Union
- Assets
- $306.7m
- Revenue
- $16.5m
- Investments
- $13.0m
- Employees
- 154
- Location
- Forsyth, IL
- Founding
- 01/1980
- Data as of
- 12/2022
- 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 12/2022, Decatur Earthmover Credit Union employed 154 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 12/2022, Decatur Earthmover Credit Union generated $16.5m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.6% each year. All expenses for the organization totaled $15.4m during the year ending 12/2022. While expenses have increased by 4.9% 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 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 3558 MEMBERS.
PROVIDED NEW MORTGAGES TO 115 MEMBERS
PROVIDED NEW CREDIT CARDS TO 228 MEMBERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Barry Schmidt President | OfficerTrustee | 40 | $269,242 |
Kim Carlson CFO | Officer | 40 | $193,866 |
Beth Perry Executive Vice President | Officer | 40 | $107,545 |
Ramonda Hines VP Of Information Technology | Officer | 40 | $96,062 |
Beth Puckett VP Of Lending | Officer | 40 | $83,880 |
Kim Brown VP Of Hr And Organizational Development | Officer | 40 | $75,834 |
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 | $9,019,297 |
| Investment income | $1,898,120 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,500 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $16,543,031 |
| 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. | $1,099,222 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,856,845 |
| Pension plan accruals and contributions | $223,844 |
| Other employee benefits | $1,080,836 |
| Payroll taxes | $368,664 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $39,687 |
| Fees for services: Accounting | $70,464 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $89,500 |
| Fees for services: Other | $12,280 |
| Advertising and promotion | $348,172 |
| Office expenses | $672,275 |
| Information technology | $515,285 |
| Royalties | $0 |
| Occupancy | $570,953 |
| Travel | $21,484 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $71,684 |
| Interest | $57,532 |
| Payments to affiliates | $28,560 |
| Depreciation, depletion, and amortization | $765,089 |
| Insurance | $6,703 |
| All other expenses | $90,705 |
| Total functional expenses | $15,360,815 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,165,122 |
| Savings and temporary cash investments | $16,696,258 |
| 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 | $153,675,599 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $2,102,195 |
| Net Land, buildings, and equipment | $6,870,953 |
| Investments—publicly traded securities | $82,682,076 |
| Investments—other securities | $13,000,000 |
| Investments—program-related | $6,334,149 |
| Intangible assets | $98,925 |
| Other assets | $20,076,100 |
| Total assets | $306,701,377 |
| Accounts payable and accrued expenses | $6,997,909 |
| 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 | $276,718,067 |
| Total liabilities | $283,715,976 |
| 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 | $22,985,401 |
| Total liabilities and net assets/fund balances | $306,701,377 |