North Iowa Community Credit Union
- Assets
- $117.6m
- Revenue
- $7.1m
- Investments
- $0.0
- Employees
- 36
- Location
- Mason City, IA
- Founding
- Data as of
- 12/2023
- EIN
- 42-0806064
Organization Overview
North Iowa Community Credit Union is located in Mason City, IA. As of 12/2023, North Iowa Community Credit Union employed 36 individuals. North Iowa 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, North Iowa Community Credit Union generated $7.1m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 10.5% each year . All expenses for the organization totaled $6.3m during the year ending 12/2023. While expenses have increased by 9.4% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE FINANCIAL SERVICES TO OUR MEMBERS SUCH AS CHECKING, SAVINGS, AND BOTH PERSONAL AND REAL ESTATE LOANS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PROVIDES DEPOSIT SERVICES, LOANS, AND COMMUNITY SUPPORT.THE NUMBER OF MEMBERS SERVED WAS APPROXIMATELY 11,485 DURING THE 2023 TAX YEAR.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Brosz Chairman | OfficerTrustee | 0.75 | $0 |
Michael Shannon Vice Chair | OfficerTrustee | 0.75 | $0 |
Kevin D Easley Secretary | OfficerTrustee | 0.75 | $0 |
Jacob Schweitzer Board Member | Trustee | 0.75 | $0 |
Vicki Ginder Board Member | Trustee | 0.75 | $0 |
Mae Miles Board Member | Trustee | 0.75 | $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 | $6,171,337 |
| Investment income | $273,767 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $92,880 |
| 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 | $7,059,195 |
| 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. | $367,042 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,193,389 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $517,335 |
| Payroll taxes | $132,047 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $6,955 |
| Fees for services: Accounting | $21,466 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $109,922 |
| Office expenses | $375,736 |
| Information technology | $147,762 |
| Royalties | $0 |
| Occupancy | $126,788 |
| Travel | $16,223 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $23,440 |
| Interest | $1,790,225 |
| Payments to affiliates | $6,531 |
| Depreciation, depletion, and amortization | $230,446 |
| Insurance | $53,362 |
| All other expenses | $83,592 |
| Total functional expenses | $6,286,548 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $792,335 |
| Savings and temporary cash investments | $7,678,051 |
| 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 | $104,593,328 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $930,222 |
| Net Land, buildings, and equipment | $2,017,529 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $325,470 |
| Intangible assets | $0 |
| Other assets | $1,242,892 |
| Total assets | $117,579,827 |
| Accounts payable and accrued expenses | $1,314,728 |
| 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 | $107,348,508 |
| Total liabilities | $108,663,236 |
| 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 | $5,600,000 |
| Retained earnings, endowment, accumulated income, or other funds | $3,316,591 |
| Total liabilities and net assets/fund balances | $117,579,827 |