Richmond Va Fire Police Credit Union Inc
- Assets
- $21.8m
- Revenue
- $798.7k
- Investments
- $0.0
- Employees
- 8
- Location
- Richmond, VA
- Founding
- Data as of
- 12/2022
- EIN
- 54-0618258
Organization Overview
Richmond Va Fire Police Credit Union Inc is located in Richmond, VA. As of 12/2022, Richmond VA Fire Police Credit Union Inc employed 8 individuals. Richmond VA Fire Police Credit Union Inc 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 12/2022, Richmond VA Fire Police Credit Union Inc generated $798.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (4.0%) each year. All expenses for the organization totaled $755.7k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (6.1%) per year over the past 6 years. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
OUR MISSION IS TO SERVE THE MOST PRECIOUS COMMODITY WHICH IS OUR MEMBERS AND THEIR FAMILIES. WE ARE DEDICATED TO PROVIDING OUR MEMBERS WITH THE BEST POSSIBLE FINANCIAL SERVICES AND PRODUCTS WHILE MAINTAINING OUR CREDIT UNION'S LONG-TERM FINANCIAL STABILITY. OUR COMMITMENT IS TO PROVIE A FAIR AND HONEST PRODUCT WITH A FRIENDLY, CARING ATTITUDE WHILE STRIVING TO EXCEED OUR MEMBER'S EXPECTATION. OUR SERVICE IS ABOUT THE MEMBERS MORE SO THAN THE BOTTOM LINE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CREDIT UNION PROVIDED 1,006 AFFORDABLE LOANS MEMBERS DURING THE YEAR. MANY OF THESE INDIVIDUALS WOULD NOT HAVE BEEN ABLE TO OBTAIN SUCH LOANS FROM OTHER FINANCIAL INSTITUTIONS. IN ADDITION, THE CREDIT UNION PROVIDED MEMBERS WITH DEPOSITORY SERVICES, INCLUDING REMOTE DEPOSIT CAPTURE, AND ACCESS VIA CREDIT UNIONS SERVICE CENTERS NATIONWIDE. THE CREDIT UNION MEMBERSHIP CONSISTS PRIMARILY OF FIREFIGHTERS, POLICE OFFICERS AND THEIR FAMILIES OF THE CITY OF RICHMOND, THE COUNTY OF HANOVER, THE RICHMOND AMBULANCE AUTHORITY AND WEST END VOLUNTEER RESCUE SQUAD AND INCLUDES MANY INDIVIDUALS GENERALLY NOT RECRUITED FOR SERVICES AT LARGER FINANCIAL INSTITUTIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeffrey Mckinney Director | Trustee | 2 | $0 |
Melody Spivey Director | Trustee | 2 | $0 |
Robert S Baumgardner Jr Director | Trustee | 2 | $0 |
Dan Salotti Director | Trustee | 2 | $0 |
Stacey Harris Director | Trustee | 2 | $0 |
Vanessa Grooms Director | 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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $682,326 |
| Investment income | $116,355 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| 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 | $798,681 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $287,522 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $12,112 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,774 |
| Travel | $1,161 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | -$46,029 |
| Total functional expenses | $755,661 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $510,993 |
| Savings and temporary cash investments | $11,629,659 |
| 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 | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $52,022 |
| Net Land, buildings, and equipment | $30,743 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $9,536,007 |
| Total assets | $21,759,424 |
| Accounts payable and accrued expenses | $120,968 |
| 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 | $19,388,833 |
| Total liabilities | $19,509,801 |
| 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 | $2,249,623 |
| Total liabilities and net assets/fund balances | $21,759,424 |