Northwest Missouri Regional Credit Union
- Assets
- $10.9m
- Revenue
- $757.1k
- Investments
- $0.0
- Employees
- 12
- Location
- Maryville, MO
- Founding
- 00/0000
- Data as of
- 12/2023
- EIN
- 44-0560851
Organization Overview
Northwest Missouri Regional Credit Union is located in Maryville, MO. The organization was established in 0000. According to its NTEE Classification (W61) the organization is classified as: Credit Unions, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2023, Northwest Missouri Regional Credit Union employed 12 individuals. Northwest Missouri Regional 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, Northwest Missouri Regional Credit Union generated $757.1k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 4.2% each year. All expenses for the organization totaled $657.3k during the year ending 12/2023. While expenses have increased by 4.1% 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
PROVIDE A FAIR AND REASONABLE RATE OF INTEREST FOR MUTUAL BENEFIT AND GENERAL WELFARE OF ITS MEMBERS WITH EARNINGS, SAVINGS, AND SERVICES DISTRIBUTED TO ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDES FINANCIAL AND FINANCIALLY RELATED SERVICES TO 2,552 MEMBERS.
PROVIDES A SOURCE OF CREDIT TO MEMBERS AT A FAIR AND REASONABLE RATE OF INTEREST. AS OF DECEMBER 31, 2023, THERE WERE 939 LOANS OUTSTANDING TOTALING $8,173,446.
PAID DIVIDENDS ON MEMBER DEPOSITS TOTALING $23,153 FOR THE YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Virgil Albertini Board President | Trustee | 1 | $0 |
Becky Byland Board Vice President | Trustee | 1 | $0 |
David Primm Board Secretary / Treasurer | Trustee | 1 | $0 |
Raymond Courter Board Member | Trustee | 1 | $0 |
Nickolas Freeman Board Member | Trustee | 1 | $0 |
John Rhoades Board Member | 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 | $665,241 |
| Investment income | $89,909 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $1,917 |
| 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 | $757,067 |
| 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. | $105,515 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $164,739 |
| Pension plan accruals and contributions | $4,015 |
| Other employee benefits | $14,362 |
| Payroll taxes | $19,833 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $196 |
| Fees for services: Accounting | $12,773 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $6,136 |
| Advertising and promotion | $4,529 |
| Office expenses | $150,297 |
| Information technology | $82,662 |
| Royalties | $0 |
| Occupancy | $15,711 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $16 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $15,275 |
| Insurance | $13,401 |
| All other expenses | $3,795 |
| Total functional expenses | $657,324 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $170,459 |
| Savings and temporary cash investments | $2,063,838 |
| 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 | $8,108,162 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $18,270 |
| Net Land, buildings, and equipment | $252,164 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $329,794 |
| Total assets | $10,942,687 |
| Accounts payable and accrued expenses | $71,574 |
| 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 | $9,756,783 |
| Total liabilities | $9,828,357 |
| 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 | $1,114,330 |
| Total liabilities and net assets/fund balances | $10,942,687 |