Northern Star Credit Union
- Assets
- $76.1m
- Revenue
- $5.4m
- Investments
- $0.0
- Employees
- 27
- Location
- Portsmouth, VA
- Founding
- Data as of
- 12/2023
- EIN
- 54-0316051
Organization Overview
Northern Star Credit Union is located in Portsmouth, VA. As of 12/2023, Northern Star Credit Union employed 27 individuals. Northern Star 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, Northern Star Credit Union generated $5.4m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 0.7% each year. All expenses for the organization totaled $5.9m 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
THE CREDIT UNION IS A MEMBER OWNED FINANCIAL COOPERATIVE THAT PROVIDES FINANCIAL SERVICES TO IT'S MEMBERS IN THE FORM OF CHECKING AND SAVINGS ACCOUNTS, LOANS, AND CERTAIN OTHER FINANCIAL SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE FINANCIAL SERVICES TO IT'S MEMBERS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jennifer Riley Pres/ceo/tre | OfficerTrustee | 40 | $165,752 |
Roger E Early Director | Trustee | 0.25 | $35,000 |
Chase Goodwin Director | Trustee | 0.25 | $0 |
Craig Hill Director | Trustee | 0.25 | $0 |
Timothy Johnson Board Secret | Trustee | 0.25 | $0 |
Bernard G Matthews Board Vice C | Trustee | 0.25 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Syncon Llc Construction | 12/30/22 | $355,187 |
Atlas Structural Solutions Inc Construction | 12/30/22 | $135,424 |
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 | $4,270,661 |
| Investment income | $855,472 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $100,169 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,430,804 |
| 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. | $200,752 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $882,524 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $495,091 |
| Payroll taxes | $81,874 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $6,535 |
| Fees for services: Accounting | $42,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $129,729 |
| Advertising and promotion | $20,169 |
| Office expenses | $157,648 |
| Information technology | $36,540 |
| Royalties | $0 |
| Occupancy | $67,154 |
| Travel | $19,430 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $174,140 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $119,870 |
| Insurance | $56,276 |
| All other expenses | $440,602 |
| Total functional expenses | $5,905,781 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $847,202 |
| Savings and temporary cash investments | $8,944,935 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $47,071 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $46,127,380 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $269,846 |
| Net Land, buildings, and equipment | $803,821 |
| Investments—publicly traded securities | $17,520,612 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,515,878 |
| Total assets | $76,076,745 |
| Accounts payable and accrued expenses | $652,273 |
| 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 | $68,956,735 |
| Total liabilities | $69,609,008 |
| 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 | $6,467,737 |
| Total liabilities and net assets/fund balances | $76,076,745 |