B & V Credit Union
- Assets
- $52.6m
- Revenue
- $1.2m
- Investments
- $21.3m
- Employees
- 6
- Location
- Overland Park, KS
- Founding
- 10/1978
- Data as of
- 12/2023
- EIN
- 44-0648650
Organization Overview
B & V Credit Union is located in Overland Park, KS. The organization was established in 1978. 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, B & V Credit Union employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. B & V 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, B & V Credit Union generated $1.2m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 0.2% each year. All expenses for the organization totaled $1.9m during the year ending 12/2023. While expenses have increased by 8.5% 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
TO PROVIDE HIGH QUALITY FINANCIAL SERVICES FOR OUR MEMBERS/OWNERS, ENHANCING THEIR FINANCIAL WELL-BEING WHILE MAINTAINING THE FINANCIAL STRENGTH OF THE CREDIT UNION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDES FINANCIAL AND FINANCIALLY RELATED SERVICES TO 4,823 MEMBERS.
PROVIDES A SOURCE OF CREDIT TO MEMBERS AT A FAIR AND REASONABLE RATE OF INTEREST. AS OF DECEMBER 31, 2023, LOANS OUTSTANDING TOTALED $20,481,443.
PAID DIVIDENDS ON MEMBER DEPOSITS TOTALING $591,743 FOR THE YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William G Stannard Chairperson | Trustee | 1 | $0 |
Lawrence F Beil II Vice Chairperson | Trustee | 1 | $0 |
W Brent Ferren Treasurer | Trustee | 1 | $0 |
Mark H Dittus Assistant Treasurer | Trustee | 1 | $0 |
David J Johnson Secretary | Trustee | 1 | $0 |
Sandra K Bartholomew President | Officer | 40 | $113,800 |
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 | $1,023,472 |
| Investment income | $356,326 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $4,260 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$136,946 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,247,112 |
| 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. | $136,000 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $159,841 |
| Pension plan accruals and contributions | $8,586 |
| Other employee benefits | $36,087 |
| Payroll taxes | $21,103 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $980 |
| Fees for services: Accounting | $28,571 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $10,546 |
| Advertising and promotion | $13,394 |
| Office expenses | $292,332 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,579 |
| Interest | $68,599 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,075 |
| Insurance | $31,100 |
| All other expenses | $25,753 |
| Total functional expenses | $1,915,107 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,478 |
| Savings and temporary cash investments | $10,465,398 |
| 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 | $19,998,266 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $51,414 |
| Net Land, buildings, and equipment | $2,636 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $21,333,970 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $741,637 |
| Total assets | $52,596,799 |
| Accounts payable and accrued expenses | $301,261 |
| 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 | $44,639,384 |
| Total liabilities | $44,940,645 |
| 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 | $7,656,154 |
| Total liabilities and net assets/fund balances | $52,596,799 |