Dutrac Community Credit Union
- Assets
- $1.1b
- Revenue
- $53.1m
- Investments
- $0.0
- Employees
- 209
- Location
- Dubuque, IA
- Founding
- 06/2007
- Data as of
- 12/2023
- EIN
- 42-0670685
Organization Overview
Dutrac Community Credit Union is located in Dubuque, IA. The organization was established in 2007. According to its NTEE Classification (W61) the organization is classified as: Credit Unions, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2023, Dutrac Community Credit Union employed 209 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Dutrac 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 12/2023, Dutrac Community Credit Union generated $53.1m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 9.3% each year. All expenses for the organization totaled $48.4m during the year ending 12/2023. While expenses have increased by 10.2% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTING THRIFT AMONG CREDIT UNION MEMBERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANTING AFFORDABLE LOANS, PROMOTING SAVINGS & THRIFT AMONG 53,139 MEMBERS.
SEE 4A
SEE 4A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Andrew A Hawkinson Presidentceo | Officer | 45 | $560,419 |
Ronald J Kinsella Senior VP Lending | Officer | 45 | $191,475 |
Lee M Hoerner SVP Member Service | Officer | 45 | $181,760 |
Megan E Kelleher-Egan SVP Human Resources | Officer | 45 | $149,727 |
Jason A Norton SVP Marketing | Officer | 45 | $200,638 |
Andrew K Lassen Senior VP It | Officer | 45 | $195,068 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Russell Construction Co In Construction | 12/30/23 | $2,607,013 |
Fiserv Computer Technology | 12/30/23 | $1,125,858 |
Corelation Inc Data Processing | 12/30/23 | $474,081 |
Access Softek Inc Electronic Services | 12/30/23 | $337,392 |
Hyland Software Inc Computer Software | 12/30/23 | $287,221 |
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 | $48,331,709 |
| Investment income | $4,591,533 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$248,018 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $53,135,440 |
| 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. | $2,573,892 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $8,138,612 |
| Pension plan accruals and contributions | $403,139 |
| Other employee benefits | $1,667,213 |
| Payroll taxes | $750,007 |
| Fees for services: Management | $304,486 |
| Fees for services: Legal | $50,629 |
| Fees for services: Accounting | $61,076 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,407,736 |
| Advertising and promotion | $1,921,205 |
| Office expenses | $4,778,595 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $2,059,491 |
| Travel | $187,288 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $64,222 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $48,362,996 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $19,876,303 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,129,729 |
| Loans from Officers, Directors, or Controlling Persons | $3,430,781 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $866,377,615 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $3,732,639 |
| Net Land, buildings, and equipment | $19,766,717 |
| Investments—publicly traded securities | $137,952,288 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $18,804,614 |
| Total assets | $1,073,070,686 |
| Accounts payable and accrued expenses | $20,341,239 |
| 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 | $939,149,121 |
| Total liabilities | $959,490,360 |
| 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 | $47,857,311 |
| Retained earnings, endowment, accumulated income, or other funds | $65,723,015 |
| Total liabilities and net assets/fund balances | $1,073,070,686 |