Teamsters Local 238 Credit Union
- Assets
- $10.0m
- Revenue
- $300.0k
- Investments
- $0.0
- Employees
- 3
- Location
- Cedar Rapids, IA
- Founding
- Data as of
- 12/2021
- EIN
- 42-0785140
Organization Overview
Teamsters Local 238 Credit Union is located in Cedar Rapids, IA. As of 12/2021, Teamsters Local 238 Credit Union employed 3 individuals. Teamsters Local 238 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, Teamsters Local 238 Credit Union generated $300.0k in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (2.3%) each year. All expenses for the organization totaled $391.5k during the year ending 12/2021. 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
N/A
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Elliott Board Member | Trustee | 1 | $0 |
Gerald Epperson Board Member | Trustee | 1 | $0 |
Jim Romar Board Member | Trustee | 1 | $0 |
Greg Hearns Board Member | Trustee | 1 | $0 |
Zach Peterson Board Member | Trustee | 1 | $0 |
Brian Simpson 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 | $239,993 |
| Investment income | $60,042 |
| 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 | $300,035 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $147,289 |
| Pension plan accruals and contributions | $22,002 |
| Other employee benefits | $875 |
| Payroll taxes | $11,388 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,102 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $474 |
| Office expenses | $36,594 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $12,104 |
| Travel | $0 |
| 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 | $0 |
| Depreciation, depletion, and amortization | $224 |
| Insurance | $14,706 |
| All other expenses | $17,614 |
| Total functional expenses | $391,459 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $79,892 |
| Savings and temporary cash investments | $6,483,878 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $3,241,579 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $35,234 |
| Net Land, buildings, and equipment | $58,779 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $115,741 |
| Total assets | $10,015,103 |
| Accounts payable and accrued expenses | $105,915 |
| 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 | $9,030,087 |
| Total liabilities | $9,136,002 |
| 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 | $484,456 |
| Retained earnings, endowment, accumulated income, or other funds | $394,645 |
| Total liabilities and net assets/fund balances | $10,015,103 |
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