Polk County Schools Employees Credit Union
- Assets
- $0.0
- Revenue
- $227.3k
- Investments
- $0.0
- Employees
- 4
- Location
- Urbandale, IA
- Founding
- Data as of
- 09/2016
- EIN
- 42-0867824
Organization Overview
Polk County Schools Employees Credit Union is located in Urbandale, IA. As of 09/2016, Polk County Schools Employees Credit Union employed 4 individuals. Polk County Schools Employees 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 09/2016, Polk County Schools Employees Credit Union generated $227.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (21.1%) each year. All expenses for the organization totaled $247.2k during the year ending 09/2016. As we would expect to see with falling revenues, expenses have declined by (13.8%) per year over the past 2 years. 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
2016
Describe the Organization's Mission:
Part 3 - Line 1
THE CREDIT UNION PROVIDES FINANCIAL SERVICES TO QUALIFIED MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CREDIT UNIONS CREATE A SOURCE OF CREDIT AT A FAIR AND REASONABLE RATE OF INTEREST, ENCOURAGE HABITS OF THRIFT AMONG THEIR MEMBERS, AND PROVIDE AN OPPORTUNITY FOR THEIR MEMBERS TO USE AND CONTROL THEIR OWN MONEY ON A DEMOCRATIC BASIS IN ORDER TO IMPROVE THEIR ECONOMIC AND SOCIAL CONDITION. MEMBERS SERVED IN 2016: 1,644.SUBSEQUENT EVENT:ON 10/1/16, POLK COUNTY SCHOOLS EMPLOYEES CREDIT UNION MERGED WITH DES MOINES POLICE OFFICERS CREDIT UNION (42-0773825), HEREINAFTER THE CONTINUING CREDIT UNION. THE DAY-TO-DAY OPERATION OF THE MERGING CREDIT UNION IS NOW UNDER THE CONTROL OF THE BOARD OF DIRECTORS OF THE CONTINUING CREDIT UNION.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeffrey Morris Audit Committee | Trustee | 1 | $0 |
Karen Banse Audit Committee | Trustee | 1 | $0 |
Brian Gongol Credit Committee | Trustee | 1 | $0 |
Tony Garmoe Audit Committee | Trustee | 1 | $0 |
Susan Givant Credit Committee | Trustee | 1 | $0 |
Gene Haigh Chairperson | OfficerTrustee | 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 | $141,658 |
| Investment income | $21,401 |
| 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 | $227,297 |
| 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. | $45,799 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $53,335 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $11,649 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $20,815 |
| Advertising and promotion | $621 |
| Office expenses | $23,768 |
| Information technology | $26,037 |
| Royalties | $0 |
| Occupancy | $4,360 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $813 |
| Interest | $6,885 |
| Payments to affiliates | $4,969 |
| Depreciation, depletion, and amortization | $8,333 |
| Insurance | $13,725 |
| All other expenses | $3,160 |
| Total functional expenses | $247,170 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $0 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Unrestricted restricted net Assets | $0 |
| Temporarily restricted net Assets | $0 |
| Permanently restricted net Assets or current funds | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | $0 |