Marshfield Medical Center Credit Union
- Assets
- $88.2m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 16
- Location
- Marshfield, WI
- Founding
- Data as of
- 12/2021
- EIN
- 39-1081671
Organization Overview
Marshfield Medical Center Credit Union is located in Marshfield, WI. As of 12/2021, Marshfield Medical Center Credit Union employed 16 individuals. Marshfield Medical Center 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, Marshfield Medical Center Credit Union generated $1.9m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.8% each year. All expenses for the organization totaled $1.7m during the year ending 12/2021. While expenses have increased by 1.0% 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
TO OFFER OUR MEMBERS QUALITY FINANCIAL SERVICES, COMPETITIVE RATES, AND ENCOURAGE RESPONSIBLE MONEY MANAGEMENT PRACTICES.
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 471 NEW DEPOSIT ACCOUNTS IN 2021. AS OF 12/31/21 WE HAD 3,800 MEMBERS.
THE CREDIT UNION HAS SEVERAL TYPES OF LOAN PROGRAMS AVAILABLE FOR OUR MEMBERS. WE FUNDED 487 NEW LOANS DURING 2021. AS OF 12/31/21 WE HAD 2,517 OUTSTANDING LOANS RECEIVABLE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Murphy Pres (june F | Officer | 40 | $85,866 |
Jerome Litwaitis VP Lending | Officer | 40 | $83,985 |
Carol Adler Pres (jan-Ju | Officer | 40 | $71,757 |
Steve Kaiser Secretary | OfficerTrustee | 0.25 | $0 |
Brooks Burt Chair | OfficerTrustee | 0.25 | $0 |
Stephanie Helgeson Vice Chair | OfficerTrustee | 0.25 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Lamacchia Group Building Design | 12/30/18 | $102,770 |
Enhanced Software Products Inc Core Processor | 12/30/18 | $100,875 |
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 | $1,454,005 |
| Investment income | $322,622 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $9,222 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $125,879 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,921,728 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $6,124 |
| 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. | $241,608 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $321,337 |
| Pension plan accruals and contributions | $28,224 |
| Other employee benefits | $85,615 |
| Payroll taxes | $43,994 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $450 |
| Fees for services: Accounting | $47,420 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $34,825 |
| Advertising and promotion | $61,837 |
| Office expenses | $113,412 |
| Information technology | $197,735 |
| Royalties | $0 |
| Occupancy | $52,440 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,742 |
| Interest | $10 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $181,650 |
| Insurance | $41,211 |
| All other expenses | $225 |
| Total functional expenses | $1,686,967 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $707,926 |
| Savings and temporary cash investments | $12,393,476 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $17,228 |
| Loans from Officers, Directors, or Controlling Persons | $5,570,428 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $36,906,049 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $152,492 |
| Net Land, buildings, and equipment | $2,302,308 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $29,283,447 |
| Intangible assets | $0 |
| Other assets | $866,174 |
| Total assets | $88,199,528 |
| Accounts payable and accrued expenses | $227,517 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $12,420 |
| 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 | $82,020,393 |
| Total liabilities | $82,260,330 |
| 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 | $5,939,198 |
| Total liabilities and net assets/fund balances | $88,199,528 |
Grants Awarded
Over the last fiscal year, Marshfield Medical Center Credit Union has awarded $33,284 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
Marshfield, WI PURPOSE: GENERAL SUPPORT | $10,642 |
Marshfield, WI PURPOSE: GENERAL SUPPORT | $10,642 |
Marshfield, WI PURPOSE: GENERAL SUPPORT | $6,000 |
Marshfield, WI PURPOSE: GENERAL SUPPORT | $6,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Marshfield Medical Center Credit Union has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
Wisconsin Credit Union Foundationinc Madison, WI PURPOSE: TO FUND ESIGNATURE ADOPTION. | $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 |