Shoreline Credit Union
- Assets
- $127.2m
- Revenue
- $6.6m
- Investments
- $0.0
- Employees
- 59
- Location
- Manitowoc, WI
- Founding
- Data as of
- 12/2023
- EIN
- 39-0795376
Organization Overview
Shoreline Credit Union is located in Manitowoc, WI. As of 12/2023, Shoreline Credit Union employed 59 individuals. Shoreline 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, Shoreline Credit Union generated $6.6m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.9% each year. All expenses for the organization totaled $6.3m during the year ending 12/2023. While expenses have increased by 6.2% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
OUR MISSION IS TO HELP OUR MEMBERS ACHIEVE FINANCIAL SUCCESS. WE ACHIEVE THIS BY PROVIDING MEMBERS WITH A SAFE PLACE TO SAVE AND BORROW AT REASONABLE RATES. WE EXCEL AT THIS BY REMAINING COMMITTED TO EMPLOYING AN HONEST, KNOWLEDGEABLE STAFF WHOSE FOCUS IS ON ONE MEMBER AT A TIME.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOLDING DEPOSITS FOR AND MAKING LOANS TO MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gretchen Bauknecht-Pech Chairperson | OfficerTrustee | 1 | $0 |
Colleen Inman Vice Chair | OfficerTrustee | 1 | $0 |
Sharon Tome Secretary | OfficerTrustee | 1 | $0 |
James Pfieffer Board Member | Trustee | 1 | $0 |
Brian Powell Treasurer | OfficerTrustee | 1 | $0 |
Jason Ring Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Pscu Debit/credit Card Programs | 12/30/23 | $416,982 |
Cu Answers Software | 12/30/23 | $274,756 |
Nusource Financial New Atm Install | 12/30/23 | $142,819 |
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 | $5,007,339 |
| Investment income | $696,037 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $110,026 |
| 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 | $6,642,627 |
| 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 | $617,699 |
| Compensation of current officers, directors, key employees. | $601,955 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,557,223 |
| Pension plan accruals and contributions | $14,069 |
| Other employee benefits | $124,103 |
| Payroll taxes | $135,090 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $46,119 |
| 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 | $66,903 |
| Advertising and promotion | $198,377 |
| Office expenses | $1,029,156 |
| Information technology | $63,412 |
| Royalties | $0 |
| Occupancy | $263,970 |
| Travel | $10,414 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $24,283 |
| Interest | $380,326 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $424,883 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $6,329,038 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,514,372 |
| Savings and temporary cash investments | $3,590,859 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $425,162 |
| Loans from Officers, Directors, or Controlling Persons | $627,375 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $94,836,648 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $457,208 |
| Net Land, buildings, and equipment | $4,648,310 |
| Investments—publicly traded securities | $15,079,215 |
| Investments—other securities | $0 |
| Investments—program-related | $1,184,043 |
| Intangible assets | $0 |
| Other assets | $4,797,500 |
| Total assets | $127,160,692 |
| Accounts payable and accrued expenses | $3,394,126 |
| 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 | $7,760,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $106,360,648 |
| Total liabilities | $117,514,774 |
| 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 | $9,645,918 |
| Total liabilities and net assets/fund balances | $127,160,692 |