South Community Credit Union
- Assets
- $8.7m
- Revenue
- $359.3k
- Investments
- $0.0
- Employees
- 4
- Location
- Sullivan, MO
- Founding
- Data as of
- 12/2017
- EIN
- 43-0623565
Organization Overview
South Community Credit Union is located in Sullivan, MO. As of 12/2017, South Community Credit Union employed 4 individuals. South 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 12/2017, South Community Credit Union generated $359.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (10.0%) each year. All expenses for the organization totaled $420.2k during the year ending 12/2017. As we would expect to see with falling revenues, expenses have declined by (2.3%) per year over the past 3 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
2017
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE HIGH QUALITY FINANCIAL SERVICES FOR OUR MEMBERS/OWNERS, ENHANCING THEIR FINANCIAL WELL-BEING WHILE MAINTAINING THE FINANCIAL STRENGTH OF THE CREDIT UNION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDES FINANCIAL AND FINANCIALLY RELATED SERVICES TO 1,628 MEMBERS.
PROVIDES A SOURCE OF CREDIT TO MEMBERS AT A FAIR AND REASONABLE RATE OF INTEREST. AS OF DECEMBER 31, 2017, THERE WERE 701 LOANS OUTSTANDING TOTALING $4,926,402.
PAID DIVIDENDS ON MEMBER DEPOSITS TOTALING $6,696 FOR THE YEAR.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michelle Volkmann President | Officer | 46 | $49,912 |
Joseph Wilhite Vice Chairman | Trustee | 1 | $0 |
Don Bunk Chairman | Trustee | 1 | $0 |
Kelli Rapp Secretary/treasurer | Trustee | 1 | $0 |
Clifford Williams Board Member | Trustee | 1 | $0 |
Clyde Butch Sellers 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 | $339,178 |
| Investment income | $18,332 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $1,834 |
| 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 | $359,344 |
| 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. | $55,870 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $52,581 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $9,940 |
| Payroll taxes | $11,116 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,285 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $3,697 |
| Office expenses | $157,923 |
| Information technology | $4,325 |
| Royalties | $0 |
| Occupancy | $37,422 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,054 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $12,101 |
| Insurance | $12,068 |
| All other expenses | -$101 |
| Total functional expenses | $420,192 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $414,104 |
| Savings and temporary cash investments | $3,158,628 |
| 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 | $4,897,585 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $33,566 |
| Net Land, buildings, and equipment | $82,433 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $118,931 |
| Total assets | $8,705,247 |
| Accounts payable and accrued expenses | $12,650 |
| 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 | $7,753,633 |
| Total liabilities | $7,766,283 |
| 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 | $938,964 |
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