Mazuma Credit Union
- Assets
- $928.9m
- Revenue
- $55.4m
- Investments
- $4.6m
- Employees
- 331
- Location
- Overland Park, KS
- Founding
- Data as of
- 12/2022
- EIN
- 44-0544335
Organization Overview
Mazuma Credit Union is located in Overland Park, KS. As of 12/2022, Mazuma Credit Union employed 331 individuals. Mazuma 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 12/2022, Mazuma Credit Union generated $55.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.4% each year. All expenses for the organization totaled $49.3m during the year ending 12/2022. While expenses have increased by 5.9% per year over the past 8 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.
Since 2017, Mazuma Credit Union has awarded 31 individual grants totaling $290,250. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
A NON-FOR-PROFIT CREDIT UNION SERVING THE COMMUNITIES OF CASS, JACKSON AND CLAY COUNTIES IN MISSOURI AND JOHNSON AND WYANDOTTE COUNTIES IN KANSAS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING DEPOSIT SERVICES FOR 72,250 MEMBERS
PROVIDING LOAN SERVICES FOR 36,120 MEMBERS
PROVIDE CHECKING ACCOUNT AND TRANSACTION SERVICES AND ACCOUNT SERVICES FOR 39,771 MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeff Westmeyer Bod Member | Trustee | 1 | $0 |
Bob Durbin Bod Member | Trustee | 1 | $0 |
Carla Johnson Bod/secretary | Trustee | 1 | $0 |
Ike Nwabuonwu V. Chairperson | Trustee | 1 | $0 |
Russ Petry Chairperson | Trustee | 1 | $0 |
John Lathrop Bod/treasurer | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Maple Street Inc Contract Negotiation | 12/30/22 | $1,114,248 |
L Keeley Construction Construction | 12/30/22 | $2,140,558 |
Jack Henry & Associates Core System | 12/30/22 | $896,256 |
Diamond Merckens Hogan Inc Marketing | 12/30/22 | $712,068 |
Truhome Solutions Mortgage Support | 12/30/22 | $463,033 |
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 | $52,561,577 |
| Investment income | $2,822,725 |
| 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 | $55,384,302 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $168,000 |
| 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. | $2,495,084 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $13,881,179 |
| Pension plan accruals and contributions | $530,358 |
| Other employee benefits | $2,406,674 |
| Payroll taxes | $991,662 |
| Fees for services: Management | $2,107,665 |
| Fees for services: Legal | $456,334 |
| Fees for services: Accounting | $151,463 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $776,665 |
| Advertising and promotion | $1,526,516 |
| Office expenses | $1,052,008 |
| Information technology | $3,120,031 |
| Royalties | $0 |
| Occupancy | $698,796 |
| Travel | $19,160 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $264,368 |
| Interest | $4,110,029 |
| Payments to affiliates | $159,816 |
| Depreciation, depletion, and amortization | $2,129,959 |
| Insurance | $94,343 |
| All other expenses | $1,563,032 |
| Total functional expenses | $49,259,039 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,786,488 |
| Savings and temporary cash investments | $36,275,636 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $14,912,032 |
| Loans from Officers, Directors, or Controlling Persons | $3,282,657 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $697,036,600 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $643,890 |
| Net Land, buildings, and equipment | $28,037,948 |
| Investments—publicly traded securities | $105,552,188 |
| Investments—other securities | $4,580,695 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $31,798,347 |
| Total assets | $928,906,481 |
| Accounts payable and accrued expenses | $19,675,903 |
| 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 | $73,700,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $740,000,190 |
| Total liabilities | $833,376,093 |
| 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 | $95,530,388 |
| Total liabilities and net assets/fund balances | $928,906,481 |
Grants Awarded
Over the last fiscal year, Mazuma Credit Union has awarded $58,300 in support to 11 organizations.
| Grant Recipient | Amount |
|---|---|
YMCA OF GREATER KANSAS CITY PURPOSE: CHARITABLE CONTRIBUTION | $7,300 |
CENTER FOR DEVELOPMENTALLY DISABLED PURPOSE: CHARITABLE CONTRIBUTION | $5,100 |
ARTSKC - REGIONAL ARTS COUNCIL PURPOSE: CHARITABLE CONTRIBUTION | $5,100 |
COMMUNITY LINC PURPOSE: CHARITABLE CONTRIBUTION | $5,100 |
HILLCREST MINISTRIES OF MIDAMERICA PURPOSE: CHARITABLE CONTRIBUTION | $5,100 |
HOPEKIDS KANSAS CITY CHAPTER PURPOSE: CHARITABLE CONTRIBUTION | $5,100 |