1st Community Credit Union
- Assets
- $223.3m
- Revenue
- $10.2m
- Investments
- $29.4m
- Employees
- 82
- Location
- Sparta, WI
- Founding
- Data as of
- 12/2021
- EIN
- 39-6049882
Organization Overview
1st Community Credit Union is located in Sparta, WI. As of 12/2021, 1st Community Credit Union employed 82 individuals. 1st Community 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, 1st Community Credit Union generated $10.2m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 9.1% each year. All expenses for the organization totaled $8.9m during the year ending 12/2021. While expenses have increased by 9.6% 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
STATE CHARTERED CREDIT UNION
Describe the Organization's Program Activity:
Part 3 - Line 4a
A COOPERATIVE, NONPROFIT CORPORATION, INCORPORATED TO ENCOURAGE THRIFT AMONG ITS MEMBERS, CREATE A SOURCE OF CREDIT AT A FAIR AND REASONABLE COST, AND PROVIDE AN OPPORTUNITY FOR ITS MEMBERS TO IMPROVE THEIR ECONOMIC AND SOCIAL CONDITIONS
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brad Bauges President/ceo | Officer | 40 | $246,052 |
Diana Mack VP Operations | Officer | 40 | $105,344 |
Krista Wilson VP Of Lending | Officer | 40 | $97,904 |
Wendy Swanson VP Or Finance | Officer | 40 | $94,780 |
Sandra Anderson VP Human Resource | Officer | 40 | $94,352 |
Mike Lorenz VP Member Experience | Officer | 40 | $89,398 |
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 | $9,305,954 |
| Investment income | $908,243 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $29,577 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,243,774 |
| 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 | $885,600 |
| Compensation of current officers, directors, key employees. | $857,941 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,746,868 |
| Pension plan accruals and contributions | $119,277 |
| Other employee benefits | $407,111 |
| Payroll taxes | $257,537 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,063 |
| Fees for services: Accounting | $57,813 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $620,501 |
| Advertising and promotion | $277,148 |
| Office expenses | $244,411 |
| Information technology | $552,069 |
| Royalties | $0 |
| Occupancy | $371,738 |
| Travel | $12,253 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $67,960 |
| Interest | $525,335 |
| Payments to affiliates | $38,916 |
| Depreciation, depletion, and amortization | $215,067 |
| Insurance | $37,744 |
| All other expenses | $21,643 |
| Total functional expenses | $8,942,492 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,519,916 |
| Savings and temporary cash investments | $9,986,532 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $288,791 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $170,481,062 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $665,823 |
| Net Land, buildings, and equipment | $7,179,900 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $29,358,326 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,816,907 |
| Total assets | $223,297,257 |
| Accounts payable and accrued expenses | $5,058,221 |
| Grants payable | $0 |
| Deferred revenue | $17,694 |
| 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 | $198,547,321 |
| Total liabilities | $203,623,236 |
| 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 | $19,674,021 |
| Total liabilities and net assets/fund balances | $223,297,257 |
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 |