Academic Employees Credit Union
- Assets
- $13.9m
- Revenue
- $464.7k
- Investments
- $0.0
- Employees
- 4
- Location
- Columbia, MO
- Founding
- Data as of
- 12/2021
- EIN
- 43-6031443
Organization Overview
Academic Employees Credit Union is located in Columbia, MO. As of 12/2021, Academic Employees Credit Union employed 4 individuals. Academic 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 12/2021, Academic Employees Credit Union generated $464.7k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.0%) each year. All expenses for the organization totaled $513.0k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (0.2%) 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
TO PROMOTE THRIFT AMONG ITS MEMBERS, BY AFFORDING THEM AN OPPORTUNITY FOR ACCUMULATING THEIR SAVINGS; TO CREATE A SOURCE OF CREDIT AT FAIR & REASONABLE RATES OF INTEREST; TO PROVIDE THE OPPORTUNITY FOR THE MEMBERS TO USE AND CONTROL THEIR MONEY FOR THEIR MUTUAL BENEFIT; TO EDUCATE MEMBERS IN THE PRUDENT USE OF MONEY & CREDIT; TO OPERATE IN THE SPIRIT OF COOPERATION - NOT FOR PROFIT; TO IMPROVE THE COMMUNITY IN WHICH IT OPERATES, AND TO PROVIDE OTHER FISCAL & FINANCIAL SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROMOTE THRIFT AMONG ITS MEMBERS, BY AFFORDING THEM AN OPPORTUNITY FOR ACCUMULATING THEIR SAVINGS; TO CREATE FOR THEM A SOURCE OF CREDIT AT FAIR & REASONABLE RATES OF INTEREST; TO PROVIDE THE OPPORTUNITY FOR THE MEMBERS TO USE AND CONTROL THEIR MONEY FOR THEIR MUTUAL BENEFIT; TO EDUCATE MEMBERS IN THE PRUDENT USE OF MONEY & CREDIT; TO OPERATE IN THE SPIRIT OF COOPERATION - NOT FOR PROFIT; TO IMPROVE THE COMMUNITY IN WHICH IT OPERATES, AND TO PROVIDE OTHER FISCAL & FINANCIAL SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
K Sky Poindexter Credit Union | Officer | 40 | $57,343 |
Hope Burkart Director | Trustee | 1 | $0 |
Jennifer Black Cone Treasurer | Trustee | 1 | $0 |
Thaddeus Hamilton Director | Trustee | 1 | $0 |
Mel Roberts Director | Trustee | 1 | $0 |
Russ Sackreiter Chair | 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 | $290,535 |
| Investment income | $47,211 |
| 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 | $464,680 |
| 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. | $57,343 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $83,283 |
| Pension plan accruals and contributions | $6,068 |
| Other employee benefits | $45,089 |
| Payroll taxes | $9,907 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,189 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $23,140 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $61,674 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $400 |
| Interest | $1,067 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,106 |
| Insurance | $13,513 |
| All other expenses | $22,857 |
| Total functional expenses | $512,958 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $290,571 |
| Savings and temporary cash investments | $7,810,293 |
| 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 | $4,958,021 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $16,897 |
| Net Land, buildings, and equipment | $717,864 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $121,707 |
| Total assets | $13,915,353 |
| Accounts payable and accrued expenses | $707 |
| 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 | $13,214,033 |
| Total liabilities | $13,214,740 |
| Net assets without donor restrictions | $700,613 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $13,915,353 |
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