River Community Credit Union
- Assets
- $25.7m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 8
- Location
- Ottumwa, IA
- Founding
- Data as of
- 12/2022
- EIN
- 42-0453085
Organization Overview
River Community Credit Union is located in Ottumwa, IA. As of 12/2022, River Community Credit Union employed 8 individuals. River 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 12/2022, River Community Credit Union generated $1.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.6% each year. All expenses for the organization totaled $1.0m during the year ending 12/2022. While expenses have increased by 5.3% 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
PROVIDE FINANCIAL SERVICES TO MEMBERS INCLUDING DEPOSIT AND LOAN PROGRAMS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE FINANCIAL SERVICES TO MEMBERS INCLUDING DEPOSIT AND LOAN PROGRAMS
PROVIDE FINANCIAL SERVICES TO MEMBERS INCLUDING DEPOSIT AND LOAN PROGRAMS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nathan Bissell CEO | Officer | 40 | $79,413 |
Cory Benge Chair | OfficerTrustee | $0 | |
Dave Mcmillin President | OfficerTrustee | $0 | |
Herbert Greenfield Vice Chair | OfficerTrustee | $0 | |
Patricia Meyer Chair Audit | OfficerTrustee | $0 | |
Vicki Harter Audit Commit | Trustee | $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 | $921,457 |
| Investment income | -$48,465 |
| 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 | $1,176,087 |
| 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. | $79,413 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $218,459 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $28,493 |
| Payroll taxes | $28,764 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $250,670 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $27,670 |
| Office expenses | $89,691 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $33,635 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,947 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $8,384 |
| Total functional expenses | $1,041,372 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $935,076 |
| Savings and temporary cash investments | $2,260,039 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $225,231 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $21,882,402 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $76,389 |
| Net Land, buildings, and equipment | $76,811 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $245,805 |
| Total assets | $25,701,753 |
| Accounts payable and accrued expenses | $165,226 |
| 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 | $22,060,586 |
| Total liabilities | $22,225,812 |
| 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 | $1,012,497 |
| Retained earnings, endowment, accumulated income, or other funds | $2,463,444 |
| Total liabilities and net assets/fund balances | $25,701,753 |
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