Loudoun Credit Union
- Assets
- $57.6m
- Revenue
- $2.1m
- Investments
- $0.0
- Employees
- 11
- Location
- Leesburg, VA
- Founding
- Data as of
- 12/2021
- EIN
- 54-1117966
Organization Overview
Loudoun Credit Union is located in Leesburg, VA. As of 12/2021, Loudoun Credit Union employed 11 individuals. Loudoun 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, Loudoun Credit Union generated $2.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.0% each year. All expenses for the organization totaled $1.9m during the year ending 12/2021. While expenses have increased by 3.7% per year over the past 7 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
TO PROVIDE LOW COST FINANCIAL SERVIES SUCH AS SAVINGS AND LOANS TO MEMBER
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CREDIT UNION PROVIDES FINANCIAL SERVICES TO THEIR MEMBERS SUCH AS SAVINGS ACCOUNTS AND LOANS
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Travis Allen CEO | Officer | 40 | $148,765 |
Kathleen Broadhurst Director Of Finance | Officer | 40 | $71,309 |
Cindy Mester Board Chair | OfficerTrustee | 6 | $0 |
Eric Jewell Vice Chair | OfficerTrustee | 3 | $0 |
Dr Rodney Kander Treasurer | OfficerTrustee | 3 | $0 |
Donna Mcmullen Secretary | OfficerTrustee | 3 | $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 | $1,269,012 |
| Investment income | $343,933 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $80,717 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,053,111 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $17,034 |
| 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. | $220,074 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $326,730 |
| Pension plan accruals and contributions | $34,710 |
| Other employee benefits | $131,404 |
| Payroll taxes | $42,227 |
| Fees for services: Management | $228,491 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $27,755 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $97,046 |
| Office expenses | $176,423 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $62,159 |
| Travel | $4,711 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $55,710 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $24,813 |
| Insurance | $0 |
| All other expenses | $84,208 |
| Total functional expenses | $1,853,435 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $563,734 |
| Savings and temporary cash investments | $955,100 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $131,069 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $18,427,145 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $164,493 |
| Net Land, buildings, and equipment | $64,312 |
| Investments—publicly traded securities | $36,478,948 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $848,329 |
| Total assets | $57,633,130 |
| Accounts payable and accrued expenses | $422,395 |
| 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 | $53,177,951 |
| Total liabilities | $53,600,346 |
| 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 | $4,032,784 |
| Total liabilities and net assets/fund balances | $57,633,130 |
Grants Awarded
Over the last fiscal year, Loudoun Credit Union has awarded $14,995 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
BONZAI FINANCIAL TOOL FOR LOUDOUN COUNTY SCHOOLS PURPOSE: CONTRIBUTION | $9,995 |
LOUDOUN COUNTY SHERIFF COPS FOR KIDS PURPOSE: CONTRIBUTION | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Frontline Community Services Inc Beltsville, MD | $6,957,560 | $20,985,182 |
Chinese American Service League Inc Chicago, IL | $15,835,299 | $20,315,146 |
The Heights Inc Potomac, MD | $28,496,015 | $21,762,530 |
Germantown Home Philadelphia, PA | $23,238,200 | $17,117,508 |
Center For Global Development Washington, DC | $65,777,264 | $14,319,773 |
Results For America Washington, DC | $34,611,584 | $37,342,488 |
Bobbie Bailey Foundation Inc Tucker, GA | $24,485,053 | $1,564,197 |
Humanim Inc Columbia, MD | $20,769,725 | $20,890,295 |
Camber Foundation Durham, NC | $143,536,160 | $30,406,277 |
Chandler Hall Health Services Inc Newtown, PA | $26,412,529 | $17,505,940 |
Affinity Health Center Rock Hill, SC | $21,220,850 | $20,654,145 |
Senior Total Life Care Gastonia, NC | $7,534,285 | $22,491,131 |