Entrust Financial Credit Union
- Assets
- $74.6m
- Revenue
- $4.1m
- Investments
- $2.3m
- Employees
- 23
- Location
- Richmond, VA
- Founding
- 00/0000
- Data as of
- 12/2018
- EIN
- 54-1040653
Organization Overview
Entrust Financial Credit Union is located in Richmond, VA. The organization was established in 0000. 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 12/2018, Entrust Financial Credit Union employed 23 individuals. Entrust Financial 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 12/2018, Entrust Financial Credit Union generated $4.1m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 1.2% each year. All expenses for the organization totaled $4.0m during the year ending 12/2018. While expenses have increased by 1.4% per year over the past 4 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
2018
Describe the Organization's Mission:
Part 3 - Line 1
THE ENTRUST FINANCIAL CREDIT UNION IS A NOT-FOR-PROFIT, FINANCIALLY SECURE COOPERATIVE THAT IS OWNED AND CONTROLLED BY ITS MEMBERS. OUR MISSION IS TO BE OUR MEMBERS' TRUSTED PARTNER, KNOWN BY THE MEMBERSHIP FOR PROVIDING SUPERIOR SERVICE AND SOLUTIONS THAT MEET OUR MEMBERS' EVER-CHANGING NEEDS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROGRAM SERVICE ACCOMPLISHMENTS INCLUDE LESS EXPENSIVE LOAN PRODUCTS RELATIVE TO OTHER FINANCIAL INSTITUTIONS, HIGHER DEPOSIT ACCOUNT RATES, AND STRONG COMMUNITY INVOLVEMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
H Lindsey Clem Member Of Board Of Directo | Trustee | 0.6 | $0 |
Dewey Reynolds Member Of Board Of Directo | Trustee | 0.6 | $0 |
James White Member Of Board Of Directo | Trustee | 0.6 | $0 |
Lisa Lambrecht President/ceo | Officer | 37.5 | $158,131 |
Cheri Spence Chairperson | Officer | 0.7 | $0 |
John Upton Jr Vice Chairman | Officer | 0.6 | $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 | $2,342,817 |
| Investment income | $498,523 |
| 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 | $4,148,038 |
| 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. | $158,131 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $893,016 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $276,411 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $8,158 |
| Fees for services: Accounting | $32,431 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $79,210 |
| Office expenses | $23,658 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $91,683 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $26,546 |
| Interest | $164,064 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $88,204 |
| Insurance | $50,178 |
| All other expenses | $736,925 |
| Total functional expenses | $4,011,045 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,874,943 |
| Savings and temporary cash investments | $0 |
| 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 | $43,840,637 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $874,935 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $2,338,160 |
| Investments—program-related | $18,826,089 |
| Intangible assets | $0 |
| Other assets | $1,844,347 |
| Total assets | $74,599,111 |
| Accounts payable and accrued expenses | $384,405 |
| 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 | $67,913,219 |
| Total liabilities | $68,297,624 |
| Unrestricted restricted net Assets | $0 |
| Temporarily restricted net Assets | $0 |
| Permanently restricted net Assets or current funds | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | $6,301,487 |