Skyward Credit Union
- Assets
- $416.6m
- Revenue
- $15.0m
- Investments
- $210.4m
- Employees
- 81
- Location
- Wichita, KS
- Founding
- Data as of
- 12/2021
- EIN
- 48-6107341
Organization Overview
Skyward Credit Union is located in Wichita, KS. As of 12/2021, Skyward Credit Union employed 81 individuals. Skyward 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 12/2021, Skyward Credit Union generated $15.0m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.2% each year. All expenses for the organization totaled $13.3m during the year ending 12/2021. While expenses have increased by 5.8% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE COOPERATIVE FINANCIAL SERVICES TO MEMBERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE SAVINGS, CHECKING, AND OTHER DEPOSITORY SERVICES TO 17,691 MEMBERS, AND PAID DIVIDENDS ON MEMBER DEPOSITS TOTALING $2,611,735 FOR THE YEAR.
PROVIDE A SOURCE OF CONSUMER AND MORTGAGE CREDIT TO MEMBERS AT A FAIR AND REASONABLE RATE OF INTEREST. AS OF DECEMBER 31, 2021, THERE WERE 12,436 LOANS OUTSTANDING TOTALING $160,953,553.
PROVIDE FINANCIAL INFORMATION AND EDUCATION TO MEMBERS IN THE AREAS OF SAVINGS, CREDIT, AND RELATED PERSONAL WEALTH PROTECTION AND PRESERVATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kevin Wilmoth President / CEO | Officer | 45 | $218,359 |
Dean Greg Peter CFO | Officer | 45 | $133,458 |
Daniel Hayden Vice President Of Operations | Officer | 50 | $121,036 |
Holly Dixon Chairperson | Trustee | 2 | $0 |
Roy Aycock Vice Chairperson | Trustee | 2 | $0 |
Philip Chronister Secretary / Treasurer | Trustee | 2 | $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 | $6,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,000 |
| Total Program Service Revenue | $9,829,027 |
| Investment income | $4,457,992 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $44,401 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $699,270 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $15,036,690 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $36,700 |
| Grants and other assistance to domestic individuals. | $12,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $586,178 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,773,663 |
| Pension plan accruals and contributions | $135,356 |
| Other employee benefits | $558,938 |
| Payroll taxes | $301,033 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $94,427 |
| Fees for services: Accounting | $229,349 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $94,539 |
| Advertising and promotion | $462,102 |
| Office expenses | $597,690 |
| Information technology | $1,251,613 |
| Royalties | $0 |
| Occupancy | $265,775 |
| Travel | $17,863 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $81,815 |
| Interest | $504,136 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $519,092 |
| Insurance | $62,446 |
| All other expenses | $196,155 |
| Total functional expenses | $13,343,832 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,926,584 |
| Savings and temporary cash investments | $30,037,774 |
| 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 | $160,475,189 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $601,429 |
| Net Land, buildings, and equipment | $5,822,207 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $210,449,211 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,250,553 |
| Total assets | $416,562,947 |
| Accounts payable and accrued expenses | $2,111,292 |
| 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 | $41,551,261 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $317,808,449 |
| Total liabilities | $361,471,002 |
| 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 | $55,091,945 |
| Total liabilities and net assets/fund balances | $416,562,947 |
Grants Awarded
Over the last fiscal year, Skyward Credit Union has awarded $21,500 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Salina, KS PURPOSE: SUPPORT FOR CREDIT COUNSELING AND EDUCATION PROGRAMS | $10,000 |
Wichita, KS PURPOSE: SUPPORT FOR SCIENCE CENTER PROGRAMS | $6,000 |
Wichita, KS PURPOSE: SUPPORT FOR THE MUSEUM'S AERONAUTICAL SCIENCE AND HISTORY PROGRAMS | $5,500 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Skyward Credit Union has recieved totaling $6,000.
| Awarding Organization | Amount |
|---|---|
Heartland Credit Union Charitable Foundation Inc St Louis, MO PURPOSE: COMMUNITY DEVELOPMENT GRANT | $6,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Mid-America Nazarene University Olathe, KS | $55,334,319 | $63,656,687 |
Adler University Chicago, IL | $54,030,129 | $55,024,940 |
Cornerstones Of Care Kansas City, MO | $33,252,192 | $62,036,711 |
Foodbank For The Heartland Omaha, NE | $18,090,007 | $45,859,600 |
Oneworld Community Health Centers Inc Omaha, NE | $55,753,804 | $50,338,832 |
Donald Danforth Plant Science Center Saint Louis, MO | $503,520,795 | $58,321,490 |
Wheaton Franciscan Healthcare - Southeast Wisconsin Inc St Louis, MO | $170,280,677 | $49,335,705 |
Industrial Manufacturing Professional And Commercial Trust Lexington, KY | $8,502,513 | $49,520,230 |
Dean Mcgee Eye Institute Oklahoma City, OK | $54,603,133 | $49,025,501 |
Navy Pier Inc Chicago, IL | $199,546,550 | $62,194,092 |
Goodwill Industries Of Arkansas Inc Little Rock, AR | $54,825,832 | $52,717,160 |
Black River Electric Cooperative Fredericktown, MO | $138,131,330 | $49,558,459 |