Ascentra Credit Union
- Assets
- $527.5m
- Revenue
- $29.3m
- Investments
- $0.0
- Employees
- 207
- Location
- Bettendorf, IA
- Founding
- Data as of
- 12/2022
- EIN
- 42-0747751
Organization Overview
Ascentra Credit Union is located in Bettendorf, IA. As of 12/2022, Ascentra Credit Union employed 207 individuals. Ascentra 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, Ascentra Credit Union generated $29.3m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.0% each year. All expenses for the organization totaled $27.5m during the year ending 12/2022. While expenses have increased by 4.4% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
STATE CHARTERED CREDIT UNION
Describe the Organization's Program Activity:
Part 3 - Line 4a
N/A
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Linda Andry President/ce | Officer | 60 | $336,075 |
Brad Knutson Chief Tech O | Officer | 45 | $281,792 |
Shelly Ridgeway Chief Operat | 45 | $259,840 | |
Jennifer Naeve Chief Market | 45 | $195,526 | |
Jay England Chief Financ | $162,969 | ||
Joyce Carr Board Member | Trustee | 1 | $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 | $26,717,944 |
| Investment income | $2,627,650 |
| 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 | $29,345,594 |
| 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. | $806,142 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $172,847 |
| Other salaries and wages | $8,942,448 |
| Pension plan accruals and contributions | $672,301 |
| Other employee benefits | $790,476 |
| Payroll taxes | $719,118 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $252,588 |
| Fees for services: Accounting | $156,900 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $776,120 |
| Office expenses | $915,377 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,000,921 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $125,953 |
| Interest | $208,061 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,655,751 |
| Insurance | $148,821 |
| All other expenses | $2,365,832 |
| Total functional expenses | $27,536,971 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,895,151 |
| Savings and temporary cash investments | $58,014,054 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $112,193 |
| Loans from Officers, Directors, or Controlling Persons | $2,224,905 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $372,109,161 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,553,521 |
| Net Land, buildings, and equipment | $23,711,573 |
| Investments—publicly traded securities | $43,390,584 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $20,509,832 |
| Total assets | $527,520,974 |
| Accounts payable and accrued expenses | $13,898,652 |
| 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 | $7,500,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $457,777,477 |
| Total liabilities | $479,176,129 |
| 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 | $14,305,012 |
| Retained earnings, endowment, accumulated income, or other funds | $34,039,833 |
| Total liabilities and net assets/fund balances | $527,520,974 |