Taylor Credit Union
- Assets
- $81.1m
- Revenue
- $3.1m
- Investments
- $0.0
- Employees
- 33
- Location
- Medford, WI
- Founding
- Data as of
- 12/2022
- EIN
- 39-0931830
Organization Overview
Taylor Credit Union is located in Medford, WI. As of 12/2022, Taylor Credit Union employed 33 individuals. Taylor 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, Taylor Credit Union generated $3.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.3% each year. All expenses for the organization totaled $2.8m during the year ending 12/2022. While expenses have increased by 2.8% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PASSIONATE TO SEE YOU SUCCEED THROUGH YOUR LIFES JOURNEY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CREDIT UNION HAS VARIOUS TYPES OF DEPOSIT ACCOUNTS AVAILABLE FOR OUR MEMBERS. WE OPENED 677 NEW DEPOSIT ACCOUNTS IN 2022. AS OF 12/31/22 WE HAD 7,728 MEMBERS.
THE CREDIT UNION HAS SEVERAL TYPES OF LOAN PROGRAMS AVAILABLE FOR OUR MEMBERS. WE FUNDED 59,930 NEW LOANS DURING 2022. AS OF 12/31/22 WE HAD 56,700 OUTSTANDING LOANS RECEIVABLE.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Debra Woods President / | Officer | 50 | $115,042 |
Mike Handel Chair | OfficerTrustee | 1 | $1,680 |
Marie Koerner Secretary/tr | OfficerTrustee | 1 | $1,440 |
Gary Kohn Director | Trustee | 1 | $790 |
Vicki Ahles Vice Chair | OfficerTrustee | 1 | $780 |
Georgine Bohl Director | Trustee | 1 | $780 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Shazam Debit Card Proc | 12/30/21 | $219,688 |
Computer Marketing Corp Core Processor | 12/30/21 | $193,805 |
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 | $2,722,025 |
| Investment income | $388,038 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $6,928 |
| 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 | $3,119,541 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $500 |
| Grants and other assistance to domestic individuals. | $1,500 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $121,712 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $877,471 |
| Pension plan accruals and contributions | $30,256 |
| Other employee benefits | $175,913 |
| Payroll taxes | $69,829 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $185 |
| Fees for services: Accounting | $18,531 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $53,696 |
| Advertising and promotion | $48,382 |
| Office expenses | $476,619 |
| Information technology | $181,320 |
| Royalties | $0 |
| Occupancy | $97,622 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $28,081 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $212,992 |
| Insurance | $42,053 |
| All other expenses | $0 |
| Total functional expenses | $2,755,324 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,447,925 |
| Savings and temporary cash investments | $16,653,027 |
| 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 | $46,833,926 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $279,600 |
| Net Land, buildings, and equipment | $2,727,030 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $12,387,027 |
| Intangible assets | $0 |
| Other assets | $788,266 |
| Total assets | $81,116,801 |
| Accounts payable and accrued expenses | $1,232,636 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $210,734 |
| 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 | $72,641,756 |
| Total liabilities | $74,085,126 |
| 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 | $7,031,675 |
| Total liabilities and net assets/fund balances | $81,116,801 |
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