Missouri Electric Cooperative Employees' Credit Union
- Assets
- $313.0m
- Revenue
- $12.4m
- Investments
- $92.2m
- Employees
- 22
- Location
- Jefferson City, MO
- Founding
- Data as of
- 12/2023
- EIN
- 43-1044975
Organization Overview
Missouri Electric Cooperative Employees' Credit Union is located in Jefferson City, MO. As of 12/2023, Missouri Electric Cooperative Employees' Credit Union employed 22 individuals. Missouri Electric Cooperative 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 12/2023, Missouri Electric Cooperative Employees' Credit Union generated $12.4m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 9.7% each year. All expenses for the organization totaled $9.9m during the year ending 12/2023. While expenses have increased by 11.5% per year over the past 9 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
PERSONALIZED FINANCIAL SERVICES PROVIDED BY A DEDICATED STAFF WITH SUCCESSFUL RESULTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDES FINANCIAL AND FINANCIALLY RELATED SERVICES TO 12,924 MEMBERS.
PROVIDES A SOURCE OF CREDIT TO MEMBERS AT A FAIR AND REASONABLE RATE OF INTEREST. AS OF DECEMBER 31, 2023, THERE WERE 9,647 LOANS OUTSTANDING TOTALING $212,896,764.
PAID DIVIDENDS ON MEMBER DEPOSITS TOTALING $4,835,657 FOR THE 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 |
|---|---|---|---|
Matt Sharp Chairperson | Trustee | 1 | $0 |
Kent Brown Vice Chairperson | Trustee | 1 | $0 |
Cody Eaves Secretary/treasurer | Trustee | 1 | $0 |
Rhonda Robison Director | Trustee | 1 | $0 |
Tim Shafer Director | Trustee | 1 | $0 |
Joan Huck 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 | $10,230,887 |
| Investment income | $2,228,139 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $16,213 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$31,351 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $12,443,888 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $500 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $332,883 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,162,023 |
| Pension plan accruals and contributions | $288,659 |
| Other employee benefits | $264,569 |
| Payroll taxes | $99,282 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $6,864 |
| Fees for services: Accounting | $49,704 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $442,585 |
| Advertising and promotion | $41,793 |
| Office expenses | $224,946 |
| Information technology | $393,350 |
| Royalties | $0 |
| Occupancy | $33,764 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $37,014 |
| Interest | $1,173,604 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $52,584 |
| Insurance | $17,925 |
| All other expenses | $170,395 |
| Total functional expenses | $9,920,202 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $184,881 |
| Savings and temporary cash investments | $2,481,167 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $14,740 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $212,785,041 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $487,403 |
| Net Land, buildings, and equipment | $632,411 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $92,173,340 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,207,651 |
| Total assets | $312,966,634 |
| Accounts payable and accrued expenses | $2,195,652 |
| 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 | $23,597,278 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $263,585,696 |
| Total liabilities | $289,378,626 |
| 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 | $23,588,008 |
| Total liabilities and net assets/fund balances | $312,966,634 |