Central Communications Credit Union
- Assets
- $50.5m
- Revenue
- $1.9m
- Investments
- $1.4m
- Employees
- 17
- Location
- Independence, MO
- Founding
- Data as of
- 12/2023
- EIN
- 44-0195325
Organization Overview
Central Communications Credit Union is located in Independence, MO. As of 12/2023, Central Communications Credit Union employed 17 individuals. Central Communications 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, Central Communications Credit Union generated $1.9m in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (0.7%) each year. All expenses for the organization totaled $2.1m during the year ending 12/2023. 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
THE MISSION OF CENTRAL COMMUNICATIONS CREDIT UNION IS TO HELP MEMBERS GAIN PERSONAL FINANCIAL SUCCESS THROUGH THE USE OF A VARIETY OF FINANCIAL SERVICES, WHICH FEATURE BENEFITS AND ADVANTAGES BEYOND THOSE GENERALLY AVAILABLE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDES FINANCIAL AND FINANCIALLY RELATED SERVICES TO 4,195 MEMBERS.
PROVIDES A SOURCE OF CREDIT TO MEMBERS AT A FAIR AND REASONABLE RATE OF INTEREST. AS OF DECEMBER 31, 2023, LOANS OUTSTANDING TOTALED $16,938,742, INCLUDING PARTICIPATIONS.
PAID DIVIDENDS ON MEMBER DEPOSITS TOTALING $164,164 FOR THE YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Loyd Arnold Chairman | Trustee | 1 | $0 |
Jay Mcvey Vice Chairman | Trustee | 1 | $0 |
Jean Skaggs Secretary/treasurer | Trustee | 1 | $0 |
Dorothy Drone Director | Trustee | 1 | $0 |
Kirk Welsh Director | Trustee | 1 | $0 |
Thomas Gebken 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 | $1,346,590 |
| Investment income | $547,807 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $13,607 |
| 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 | $1,908,004 |
| 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. | $99,615 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $532,661 |
| Pension plan accruals and contributions | $23,200 |
| Other employee benefits | $86,830 |
| Payroll taxes | $40,662 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $9,678 |
| Fees for services: Accounting | $23,225 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $6,561 |
| Fees for services: Other | $385,510 |
| Advertising and promotion | $38,287 |
| Office expenses | $110,071 |
| Information technology | $123,526 |
| Royalties | $0 |
| Occupancy | $130,011 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,599 |
| Interest | $103,195 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $45,436 |
| Insurance | $23,781 |
| All other expenses | $1,911 |
| Total functional expenses | $2,100,176 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $485,728 |
| Savings and temporary cash investments | $812,847 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $15,763 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $16,878,161 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $74,665 |
| Net Land, buildings, and equipment | $1,341,856 |
| Investments—publicly traded securities | $27,477,955 |
| Investments—other securities | $1,391,727 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,052,567 |
| Total assets | $50,531,269 |
| Accounts payable and accrued expenses | $136,773 |
| 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 | $2,922,828 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $47,270,646 |
| Total liabilities | $50,330,247 |
| 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 | $201,022 |
| Total liabilities and net assets/fund balances | $50,531,269 |