Leadco Community Credit Union
- Assets
- $25.5m
- Revenue
- $791.4k
- Investments
- $0.0
- Employees
- 16
- Location
- Park Hills, MO
- Founding
- Data as of
- 12/2021
- EIN
- 43-0693296
Organization Overview
Leadco Community Credit Union is located in Park Hills, MO. As of 12/2021, Leadco Community Credit Union employed 16 individuals. Leadco 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 12/2021, Leadco Community Credit Union generated $791.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (4.0%) each year. All expenses for the organization totaled $844.7k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (2.2%) per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTING THRIFT AMOUNG MEMBERS, PROVIDING A SOURCE OF FUNDS WHERE LOANS MAY BE SECURED AT A GUARANTEED LOW RATE OF INTEREST, AND ASSISTING MEMBERS IN THE MANAGEMENT OF THEIR FINANCIAL AFFAIRS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDES FINANCIAL AND FINANCIALLY RELATED SERVICES TO 3,479 MEMBERS.
PROVIDES A SOURCE OF CREDIT TO MEMBERS AT A FAIR AND REASONABLE RATE OF INTEREST. AS OF DECEMBER 31, 2021, THERE WERE 663 LOANS OUTSTANDING TOTALING $7,687,357.
PAID DIVIDENDS ON MEMBER DEPOSITS TOTALING $18,393 FOR THE YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Megan Eaton CEO | Officer | 40 | $47,820 |
Robert Wills Chairman | Trustee | 1 | $0 |
David Clemons Vice Chairman | Trustee | 1 | $0 |
Louis E Stephens Treasurer | Trustee | 1 | $0 |
Margaret Robinson Secretary | Trustee | 1 | $0 |
James Sherrill Director | 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 | $724,770 |
| Investment income | $66,616 |
| 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 | $791,386 |
| 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. | $60,489 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $218,660 |
| Pension plan accruals and contributions | $2,027 |
| Other employee benefits | $31,105 |
| Payroll taxes | $21,105 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $21,494 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,279 |
| Fees for services: Other | $48,739 |
| Advertising and promotion | $7,221 |
| Office expenses | $180,178 |
| Information technology | $98,677 |
| Royalties | $0 |
| Occupancy | $36,471 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $446 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $35,315 |
| Insurance | $32,704 |
| All other expenses | $2,569 |
| Total functional expenses | $844,691 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $853,531 |
| Savings and temporary cash investments | $15,526,299 |
| 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 | $7,648,868 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $697,895 |
| Net Land, buildings, and equipment | $424,057 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $323,076 |
| Total assets | $25,473,726 |
| Accounts payable and accrued expenses | $205,680 |
| 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 | $23,551,902 |
| Total liabilities | $23,757,582 |
| 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 | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $1,716,144 |
| Total liabilities and net assets/fund balances | $25,473,726 |
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