Mutual Savings Credit Union
- Assets
- $73.9m
- Revenue
- $3.0m
- Investments
- $17.3m
- Employees
- 0
- Location
- Atlanta, GA
- Founding
- 00/0000
- Data as of
- 12/2023
- EIN
- 58-6035870
Organization Overview
Mutual Savings Credit Union is located in Atlanta, GA. 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. Mutual Savings 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, Mutual Savings Credit Union generated $3.0m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 0.9% each year. All expenses for the organization totaled $2.8m during the year ending 12/2023. While expenses have increased by 1.4% 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
PROVIDE THRIFT SAVINGS AND LENDING ACTIVITIES TO A MEMBER OWNED COOPERATIVE
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE THRIFT SAVINGS AND LENDING ACTIVITIES TO 5,549 MEMBERS OF A MEMBER OWNED COOPERATIVE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Elliott C Moon Jr CEO | Officer | 40 | $241,657 |
Emily Oami VP & Controller | Officer | 40 | $120,996 |
Jennifer Fiorenza Director And Contract Employee | Trustee | 8 | $26,325 |
James Anderson Chairman | Trustee | 1 | $0 |
Brian Arnberger Director And Secretary | Trustee | 1 | $0 |
David Blakely Director | Trustee | 1 | $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 | $2,322,621 |
| Investment income | $688,117 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$7,750 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,002,988 |
| 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. | $453,316 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $761,230 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| 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 | $129,886 |
| Advertising and promotion | $7,358 |
| Office expenses | $611,765 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $4,185 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $87 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $2,829,215 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $178,234 |
| Savings and temporary cash investments | $2,437,263 |
| 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 | $45,891,006 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $70,812 |
| Net Land, buildings, and equipment | $25,213 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $17,260,051 |
| Investments—program-related | $7,168,914 |
| Intangible assets | $0 |
| Other assets | $878,914 |
| Total assets | $73,910,407 |
| Accounts payable and accrued expenses | $1,120,379 |
| Grants payable | $0 |
| Deferred revenue | $15,913 |
| 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 | $62,238,752 |
| Total liabilities | $63,375,044 |
| 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 | $10,535,363 |
| Total liabilities and net assets/fund balances | $73,910,407 |