Kumc Credit Union
- Assets
- $28.6m
- Revenue
- $1.2m
- Investments
- $13.1k
- Employees
- 9
- Location
- Kansas City, KS
- Founding
- Data as of
- 12/2023
- EIN
- 48-0595332
Organization Overview
Kumc Credit Union is located in Kansas City, KS. As of 12/2023, Kumc Credit Union employed 9 individuals. Kumc 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, Kumc 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 4.9% each year. All expenses for the organization totaled $971.1k during the year ending 12/2023. While expenses have increased by 2.6% 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 2,204 MEMBERS.
PROVIDES A SOURCE OF CREDIT TO MEMBERS AT A FAIR AND REASONABLE RATE OF INTEREST. AS OF DECEMBER 31, 2023, THERE WERE 1,163 MEMBER LOANS OUTSTANDING TOTALING $10,580,032.
PAID DIVIDENDS ON MEMBER DEPOSITS TOTALING $87,562 FOR THE YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Don Rau Chairman | Trustee | 0.25 | $0 |
Norma Turner Vice Chairman | Trustee | 0.25 | $0 |
Tina Crain Secretary | Trustee | 0.25 | $0 |
Monica Lubeck Treasurer | Trustee | 0.25 | $0 |
David Brown Board Member | Trustee | 0.25 | $0 |
Elwanda Richardson Board Member | Trustee | 0.25 | $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 | $882,760 |
| Investment income | $336,982 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $6,043 |
| 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 | $1,225,785 |
| 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. | $107,229 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $202,159 |
| Pension plan accruals and contributions | $20,913 |
| Other employee benefits | $15,979 |
| Payroll taxes | $23,320 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,749 |
| Fees for services: Accounting | $24,531 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $145,917 |
| Advertising and promotion | $3,683 |
| Office expenses | $45,177 |
| Information technology | $111,268 |
| Royalties | $0 |
| Occupancy | $28,501 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,180 |
| Interest | $1,055 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,629 |
| Insurance | $19,561 |
| All other expenses | $43,796 |
| Total functional expenses | $971,109 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $327,699 |
| Savings and temporary cash investments | $15,242,588 |
| 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 | $12,657,452 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $49,249 |
| Net Land, buildings, and equipment | $26,846 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $13,132 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $317,419 |
| Total assets | $28,634,385 |
| Accounts payable and accrued expenses | $45,971 |
| 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 | $25,622,231 |
| Total liabilities | $25,668,202 |
| 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 | $2,966,183 |
| Total liabilities and net assets/fund balances | $28,634,385 |