Park City Credit Union
- Assets
- $320.4m
- Revenue
- $13.1m
- Investments
- $6.0m
- Employees
- 115
- Location
- Merrill, WI
- Founding
- Data as of
- 12/2021
- EIN
- 39-0905063
Organization Overview
Park City Credit Union is located in Merrill, WI. As of 12/2021, Park City Credit Union employed 115 individuals. Park City 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, Park City Credit Union generated $13.1m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 10.9% each year . All expenses for the organization totaled $9.7m during the year ending 12/2021. While expenses have increased by 8.1% per year over the past 6 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
HELPING MEMBERS FULFILL THEIR DREAMS, WHILE SERVING OUR COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WE FUNDED 2,472 LOANS DURING 2021. AS OF 12/31/21, WE HAD 1,387 MORTGAGES/HOME EQUITY, 8,288 CONSUMER LOANS, AND 87 MEMBER BUSINESS LOANS. WE ALSO HAD, AT 12/31/21, 2,198 CREDIT CARD ACCOUNTS WITH OUR MEMBERS.
WE HAVE DEPOSIT, TRANSACTION, AND INVESTMENT ACCOUNTS WITH 22,660 MEMBERS AT 12/31/21. DURING 2021, WE OPENED 8,125 NEW DEPOSIT, TRANSACTION, AND INVESTMENT ACCOUNTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Volala Mindak President/ceo | Officer | 50 | $305,195 |
Jack Mikunda COO | Officer | 50 | $127,476 |
Melissa Wrycha Cro | Officer | 50 | $101,339 |
Shawn Achterberg CFO | Officer | 50 | $93,773 |
James Richardson Chair | OfficerTrustee | 1 | $3,600 |
Leah Burbach Vice Chair | OfficerTrustee | 1 | $3,600 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Eo Johnson Business Tech It Services | 12/30/21 | $267,904 |
Kasasa Account Services | 12/30/21 | $139,892 |
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 | $12,639,045 |
| Investment income | $415,274 |
| 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 | $13,054,319 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $38,935 |
| 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. | $764,926 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,298,583 |
| Pension plan accruals and contributions | $216,832 |
| Other employee benefits | $346,229 |
| Payroll taxes | $284,176 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $73,080 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $228,237 |
| Advertising and promotion | $189,857 |
| Office expenses | $288,070 |
| Information technology | $885,936 |
| Royalties | $0 |
| Occupancy | $532,435 |
| Travel | $19,677 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $75,216 |
| Interest | $153,527 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $660,036 |
| Insurance | $82,045 |
| All other expenses | $353,677 |
| Total functional expenses | $9,719,267 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,839,165 |
| Savings and temporary cash investments | $23,373,010 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $809,079 |
| Loans from Officers, Directors, or Controlling Persons | $1,435,331 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $234,680,761 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $678,887 |
| Net Land, buildings, and equipment | $11,831,806 |
| Investments—publicly traded securities | $29,421,264 |
| Investments—other securities | $6,031,697 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $9,282,442 |
| Total assets | $320,383,442 |
| Accounts payable and accrued expenses | $3,588,023 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $220,110 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $13,795,379 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $276,672,035 |
| Total liabilities | $294,275,547 |
| 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 | $26,107,895 |
| Total liabilities and net assets/fund balances | $320,383,442 |
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