Tomah Area Credit Union
- Assets
- $100.0m
- Revenue
- $3.1m
- Investments
- $0.0
- Employees
- 29
- Location
- Tomah, WI
- Founding
- Data as of
- 12/2021
- EIN
- 39-0966830
Organization Overview
Tomah Area Credit Union is located in Tomah, WI. As of 12/2021, Tomah Area Credit Union employed 29 individuals. Tomah 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, Tomah Area Credit Union generated $3.1m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 5.3% each year. All expenses for the organization totaled $2.5m during the year ending 12/2021. While expenses have increased by 0.9% per year over the past 5 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
THE MISSION OF THIS CREDIT UNION TO PROVIDE THE BEST FINANCIAL SERVICE TO OUR MEMBERS.
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 378 NEW DEPOSIT ACCOUNTS IN 2021. AS OF 12/31/21 WE HAD 6,950 MEMBERS.
THE CREDIT UNION HAS SEVERAL TYPES OF LOAN PROGRAMS AVAILABLE FOR OUR MEMBERS. WE FUNDED 672 NEW LOANS DURING 2021. AS OF 12/31/21 WE HAD 2,991 LOANS RECEIVABLE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Todd Scholz President/ce | Officer | 45 | $120,567 |
Jayme Altman VP Accountin | Officer | 45 | $66,560 |
Christine Laufenberg VP Member Se | Officer | 45 | $60,705 |
John Froelich Vice Chair | OfficerTrustee | 1 | $2,250 |
Paul Wiese Board Chair | OfficerTrustee | 1 | $2,250 |
Gary Klinker Secretary | OfficerTrustee | 1 | $2,250 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Kickapoo Roofing Llc Roofing | 12/30/21 | $161,278 |
Enhanced Software Products Inc Core Processor | 12/30/21 | $160,114 |
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 | $10,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,000 |
| Total Program Service Revenue | $2,783,267 |
| Investment income | $255,544 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $8,904 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$179 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,057,536 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,000 |
| 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. | $261,932 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $616,481 |
| Pension plan accruals and contributions | $42,327 |
| Other employee benefits | $161,859 |
| Payroll taxes | $66,191 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,953 |
| Fees for services: Accounting | $11,064 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,265 |
| Advertising and promotion | $48,771 |
| Office expenses | $263,755 |
| Information technology | $142,375 |
| Royalties | $0 |
| Occupancy | $68,600 |
| Travel | $9,251 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $23,304 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $91,895 |
| Insurance | $23,997 |
| All other expenses | $0 |
| Total functional expenses | $2,463,385 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $715,583 |
| Savings and temporary cash investments | $41,049,456 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $78,891 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $49,898,789 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $215,481 |
| Net Land, buildings, and equipment | $1,133,595 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $5,972,261 |
| Intangible assets | $0 |
| Other assets | $940,087 |
| Total assets | $100,004,143 |
| Accounts payable and accrued expenses | $630,279 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $68,762 |
| 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 | $91,091,219 |
| Total liabilities | $91,790,260 |
| 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 | $8,213,883 |
| Total liabilities and net assets/fund balances | $100,004,143 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Tomah Area Credit Union has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
Wisconsin Credit Union Foundationinc Madison, WI PURPOSE: TO FUND A ROOF REPLACEMENT. | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Chinese American Service League Inc Chicago, IL | $15,835,299 | $20,315,146 |
Sholom Home East Inc St Paul, MN | $55,805,227 | $20,264,604 |
Dow Rummel Village Sioux Falls, SD | $76,421,386 | $18,523,416 |
Nebraska Student Loan Program Inc Lincoln, NE | $230,624,169 | $45,453,979 |
Botsford Continuing Care Corporation Southfield, MI | $28,554,348 | $16,692,642 |
American Association Of Orthopaedic Surgeons Of America Rosemont, IL | $21,165,468 | $24,653,127 |
Blackburn University Carlinville, IL | $69,417,787 | $20,572,819 |
Community Support Services Inc Akron, OH | $23,036,222 | $26,517,082 |
Montgomery Place Chicago, IL | $31,885,880 | $16,111,662 |
Region 3b Area Agency On Aging Battle Creek, MI | $12,282,051 | $21,229,876 |
Southwest Counseling Solutions Inc Detroit, MI | $10,435,524 | $23,926,279 |
Adec Inc Bristol, IN | $35,707,130 | $22,045,756 |