Sheboygan Area Credit Union
- Assets
- $74.3m
- Revenue
- $2.7m
- Investments
- $3.6k
- Employees
- 26
- Location
- Sheboygan, WI
- Founding
- Data as of
- 12/2021
- EIN
- 39-0931439
Organization Overview
Sheboygan Area Credit Union is located in Sheboygan, WI. As of 12/2021, Sheboygan Area Credit Union employed 26 individuals. Sheboygan Area 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, Sheboygan Area Credit Union generated $2.7m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.0% each year. All expenses for the organization totaled $2.1m during the year ending 12/2021. While expenses have increased by 0.5% 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
OUR MISSION IS TO PROVIDE EFFICIENT, PROGRESSIVE FINANCIAL SERVICES AND PRODUCTS TO OUR OWNER-MEMBERS IN AGREEMENT WITH CREDIT UNION PHILOSOPHY
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOLDING DEPOSITS AND MAKING LOANS TO MEMBERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Wallesser President | 40 | $115,079 | |
Lois Pluff VP Of Lending/operations | 40 | $90,566 | |
Dione Knop Chairperson | OfficerTrustee | 1 | $0 |
Kurt Kellner Secretary | OfficerTrustee | 1 | $0 |
Andrew Lorge Director | Trustee | 1 | $0 |
Anthony Blake Treasurer | Trustee | 1 | $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 | $2,312,446 |
| Investment income | $425,769 |
| 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 | $2,747,095 |
| 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. | $205,645 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $529,896 |
| Pension plan accruals and contributions | $29,583 |
| Other employee benefits | $93,339 |
| Payroll taxes | $55,780 |
| Fees for services: Management | $209,053 |
| Fees for services: Legal | $5,401 |
| Fees for services: Accounting | $21,241 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $46,546 |
| Office expenses | $105,099 |
| Information technology | $57,040 |
| Royalties | $0 |
| Occupancy | $132,420 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $10,338 |
| Interest | $0 |
| Payments to affiliates | $17,881 |
| Depreciation, depletion, and amortization | $128,042 |
| Insurance | $24,848 |
| All other expenses | $6,667 |
| Total functional expenses | $2,106,811 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $714,640 |
| Savings and temporary cash investments | $29,589,462 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,644 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $40,352,164 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $352,923 |
| Net Land, buildings, and equipment | $1,605,006 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $3,554 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,693,330 |
| Total assets | $74,313,723 |
| Accounts payable and accrued expenses | $958,222 |
| 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 | $65,448,787 |
| Total liabilities | $66,407,009 |
| 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 | $1,690,549 |
| Retained earnings, endowment, accumulated income, or other funds | $6,216,165 |
| Total liabilities and net assets/fund balances | $74,313,723 |
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