Raytown-Lee's Summit Community Credit Union is located in Raytown, MO. As of 12/2023, Raytown-Lee's Summit Community Credit Union employed 24 individuals. Raytown-Lee's Summit Community 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, Raytown-Lee's Summit Community Credit Union generated $3.1m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 1.5% each year. All expenses for the organization totaled $2.8m during the year ending 12/2023. While expenses have increased by 0.7% 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
THE PREMIER CREDIT UNION, THROUGH LEADERSHIP, QUALITY AND SERVICE TO THE COMMUNITY. PEOPLE HELPING PEOPLE, BUILDING ON MOMENTUM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDES FINANCIAL AND FINANCIALLY RELATED SERVICES TO 7,713 MEMBERS.
PROVIDES A SOURCE OF CREDIT TO MEMBERS AT A FAIR AND REASONABLE RATE OF INTEREST. AS OF DECEMBER 31, 2023, LOANS OUTSTANDING TOTALED $37,192,193, INCLUDING PARTICIPATION LOANS.
PAID DIVIDENDS ON MEMBER DEPOSITS TOTALING $47,985 FOR THE YEAR.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Mark Wasko Chairman | Trustee | 1 | $0 |
Randall Dowell Vice Chairman | Trustee | 1 | $0 |
Linda Sehrt Secretary | Trustee | 1 | $0 |
Kevin Wilson Treasurer | Trustee | 1 | $0 |
Terry Landers Board Member | Trustee | 1 | $0 |
Harold Albin Jr 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 | $2,650,730 |
Investment income | $401,133 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $12,772 |
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 | $3,064,635 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $0 |
Grants and other assistance to domestic individuals. | $2,000 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $156,659 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $687,887 |
Pension plan accruals and contributions | $20,032 |
Other employee benefits | $95,015 |
Payroll taxes | $61,321 |
Fees for services: Management | $0 |
Fees for services: Legal | $41,093 |
Fees for services: Accounting | $34,571 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $0 |
Advertising and promotion | $72,048 |
Office expenses | $738,480 |
Information technology | $241,730 |
Royalties | $0 |
Occupancy | $58,800 |
Travel | $0 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $12,049 |
Interest | $13,409 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $40,045 |
Insurance | $60,370 |
All other expenses | $1,642 |
Total functional expenses | $2,804,427 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $1,087,376 |
Savings and temporary cash investments | $22,106,361 |
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 | $36,919,343 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $69,499 |
Net Land, buildings, and equipment | $671,151 |
Investments—publicly traded securities | $0 |
Investments—other securities | $24,144 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $1,055,177 |
Total assets | $61,933,051 |
Accounts payable and accrued expenses | $217,487 |
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 | $57,101,598 |
Total liabilities | $57,319,085 |
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 | $4,613,966 |
Total liabilities and net assets/fund balances | $61,933,051 |