Lee Co Credit Union
- Assets
- $3.4m
- Revenue
- $212.4k
- Investments
- $0.0
- Employees
- 2
- Location
- Keokuk, IA
- Founding
- Data as of
- 12/2023
- EIN
- 42-1316581
Organization Overview
Lee Co Credit Union is located in Keokuk, IA. As of 12/2023, Lee Co Credit Union employed 2 individuals. Lee Co 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, Lee Co Credit Union generated $212.4k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 10.1% each year . All expenses for the organization totaled $151.6k during the year ending 12/2023. While expenses have increased by 2.3% per year over the past 4 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
PROVISION OF A LIMITED RANGE OF FINANCIAL SERVICES TO ITS MEMBERS. ANYONE WHO LIVES OR WORKS IN LEE COUNTY, IOWA IS ELIGIBLE FOR MEMBERSHIP.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVISION OF A LIMITED RANGE OF FINANCIAL SERVICES TO MEMBERS, WHO WORK OR LIVE IN LEE COUNTY, IOWA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kelly Fett Manager | Officer | 40 | $52,500 |
Mollah Ketterer Audit Committee | Trustee | 0 | $0 |
Pat Seaver Audit Committee | Trustee | 0 | $0 |
Thomas Ketterer Chief Financial Officer | Trustee | 0 | $0 |
Leland Seaver Vice Chairman | Trustee | 0 | $0 |
Monica Winkler Secretary | Trustee | 0 | $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 | $168,753 |
| Investment income | $43,644 |
| 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 | $212,397 |
| 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 | $78,680 |
| Pension plan accruals and contributions | $2,626 |
| Other employee benefits | $0 |
| Payroll taxes | $6,103 |
| 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 | $306 |
| Advertising and promotion | $625 |
| Office expenses | $12,542 |
| Information technology | $6,039 |
| Royalties | $0 |
| Occupancy | $11,351 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $602 |
| Interest | $8,550 |
| Payments to affiliates | $2,871 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $4,581 |
| All other expenses | $0 |
| Total functional expenses | $151,631 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $49,564 |
| Savings and temporary cash investments | $711,448 |
| 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 | $2,626,869 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $3,560 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $29,648 |
| Total assets | $3,421,089 |
| Accounts payable and accrued expenses | $2,195 |
| 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 | $2,497,353 |
| Total liabilities | $2,499,548 |
| 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 | $132,117 |
| Retained earnings, endowment, accumulated income, or other funds | $789,424 |
| Total liabilities and net assets/fund balances | $3,421,089 |