Missouri Central Credit Union is located in Lees Summit, MO. As of 12/2023, Missouri Central Credit Union employed 22 individuals. Missouri Central 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 Central Credit Union generated $4.5m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 10.1% each year . All expenses for the organization totaled $3.9m during the year ending 12/2023. While expenses have increased by 8.9% 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
WE STRIVE TO BE THE ONE, THRIVING FINANCIAL INSTITUTION THAT ALWAYS WELCOMES THE OPPORTUNITY TO MEET YOUR NEEDS. TOGETHER WE THRIVE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDES FINANCIAL AND FINANCIALLY RELATED SERVICES TO 8,146 MEMBERS.
PROVIDES A SOURCE OF CREDIT TO MEMBERS AT A FAIR AND REASONABLE RATE OF INTEREST. AS OF DECEMBER 31, 2023, LOANS OUTSTANDING TOTALED $66,738,567 (INCLUDING PARTICIPATIONS).
PAID DIVIDENDS ON MEMBER DEPOSITS TOTALING $389,240 FOR THE YEAR.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Dominique Bennet Chairperson | Trustee | 1 | $0 |
Jane Monroe Vice Chairperson | Trustee | 1 | $0 |
Joanne Thies Treasurer | Trustee | 1 | $0 |
Sam Voyles Board Member | Trustee | 1 | $0 |
Brian Austerman Board Member | Trustee | 1 | $0 |
Tom Lovell Board Member | Trustee | 1 | $0 |
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 | $4,249,412 |
Investment income | $228,332 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $12,408 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | -$22,672 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $4,467,480 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $5,000 |
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. | $497,668 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $592,548 |
Pension plan accruals and contributions | $34,534 |
Other employee benefits | $112,060 |
Payroll taxes | $78,059 |
Fees for services: Management | $0 |
Fees for services: Legal | $9,484 |
Fees for services: Accounting | $35,034 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $202,949 |
Advertising and promotion | $64,890 |
Office expenses | $417,025 |
Information technology | $280,405 |
Royalties | $0 |
Occupancy | $90,399 |
Travel | $2,508 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $24,987 |
Interest | $6,659 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $104,677 |
Insurance | $46,646 |
All other expenses | $66,366 |
Total functional expenses | $3,863,331 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $626,054 |
Savings and temporary cash investments | $4,630,517 |
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 | $65,959,877 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $471,163 |
Net Land, buildings, and equipment | $1,271,142 |
Investments—publicly traded securities | $0 |
Investments—other securities | $1,839,375 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $2,034,982 |
Total assets | $76,833,110 |
Accounts payable and accrued expenses | $634,524 |
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 | $68,332,505 |
Total liabilities | $68,967,029 |
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 | $7,866,081 |
Total liabilities and net assets/fund balances | $76,833,110 |