Dupaco Community Credit Union
- Assets
- $3.0b
- Revenue
- $147.6m
- Investments
- $0.0
- Employees
- 781
- Location
- Dubuque, IA
- Founding
- Data as of
- 12/2022
- EIN
- 42-0674206
Organization Overview
Dupaco Community Credit Union is located in Dubuque, IA. As of 12/2022, Dupaco Community Credit Union employed 781 individuals. Dupaco 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, Dupaco Community Credit Union generated $147.6m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 12.0% each year . All expenses for the organization totaled $127.8m during the year ending 12/2022. While expenses have increased by 16.2% 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.
Since 2020, Dupaco Community Credit Union has awarded 55 individual grants totaling $3,237,922. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
MEMBER OWNED FINANCIAL COOPERATIVE THAT OFFERS A COMPLETE LINE OF SERVICES. DUPACOS VISION IS BRIGHTER COMMUNITY FOR ALL, AND OUR MISSION IS HELP MEMBERS BUILD A LIFE WORTH LOVING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROMOTE THRIFT AND FINANCIAL LITERACY IN THE COMMUNITIES WHICH WE SERVE. COLLABORATE WITH OUR MEMBERS TO HELPING BUILD LIVES WORTH LOVING WHILE PROVIDING NO/LOW COST FINANCIAL SERVICES AND COMPETITIVE LOAN AND DEPOSIT RATES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joseph Hearn President/ceo | Officer | 50 | $562,999 |
Danielle Gratton Chief Financial Officer | Officer | 50 | $368,228 |
Matt Dodds Chief Operating Officer | Officer | 50 | $338,569 |
Steve Ervolino Chief Information Officer | 50 | $299,164 | |
Michael Schroeder Financial Advisor | 50 | $304,191 | |
David Klavitter Chief Marketing Officer | 50 | $265,473 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mastercard Card Processing | 12/30/22 | $2,168,193 |
Co-op Financial Services Card Processing | 12/30/22 | $2,728,599 |
Data Business Equipment Branch Technology | 12/30/22 | $1,734,532 |
Managed Solutions Group Data Processing | 12/30/22 | $1,684,157 |
Union Hoermann Press Printing Services | 12/30/22 | $1,038,985 |
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 | $134,230,483 |
| Investment income | $15,938,334 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $769,009 |
| Net Gain/Loss on Asset Sales | -$3,375,470 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $147,562,356 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,343,164 |
| 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. | $1,269,796 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $283,763 |
| Other salaries and wages | $40,390,802 |
| Pension plan accruals and contributions | $3,350,418 |
| Other employee benefits | $4,864,530 |
| Payroll taxes | $2,886,886 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $378,791 |
| Fees for services: Accounting | $307,672 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $10,338,673 |
| Office expenses | $1,347,219 |
| Information technology | $6,235,992 |
| Royalties | $0 |
| Occupancy | $5,537,515 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,519,824 |
| Interest | $17,793,725 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,955,208 |
| Insurance | $209,655 |
| All other expenses | $3,788,281 |
| Total functional expenses | $127,807,783 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $31,420,806 |
| Savings and temporary cash investments | $61,124,785 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,603,492 |
| Loans from Officers, Directors, or Controlling Persons | $12,945,810 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,171,313,059 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $3,177,385 |
| Net Land, buildings, and equipment | $122,575,516 |
| Investments—publicly traded securities | $393,222,856 |
| Investments—other securities | $0 |
| Investments—program-related | $118,607,174 |
| Intangible assets | $0 |
| Other assets | $92,418,493 |
| Total assets | $3,010,409,376 |
| Accounts payable and accrued expenses | $11,716,197 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $2,660,749 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $341,764,149 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,362,140,235 |
| Total liabilities | $2,718,281,330 |
| 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 | $292,128,046 |
| Total liabilities and net assets/fund balances | $3,010,409,376 |
Grants Awarded
Over the last fiscal year, Dupaco Community Credit Union has awarded $1,090,587 in support to 11 organizations.
| Grant Recipient | Amount |
|---|---|
DUPACO RW HOEFER FOUNDATION PURPOSE: General Support | $860,000 |
CREATIVE ADVENTURE LAB PURPOSE: General Support | $80,000 |
NATIONAL MISSISSIPPI RIVER MUSEUM AND AQUARIUM PURPOSE: General Support | $18,750 |
STEEPLE SQUARE PURPOSE: General Support | $18,167 |
GREATER DUBUQUE DEVELOPMENT CORPORATION PURPOSE: General Support | $17,000 |
HOLY FAMILY CATHOLIC SCHOOLS PURPOSE: General Support | $45,000 |