Louisville Gas & Electric Co Credit Union
- Assets
- $45.7m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 11
- Location
- Louisville, KY
- Founding
- 11/1944
- Data as of
- 12/2021
- EIN
- 61-0264130
Organization Overview
Louisville Gas & Electric Co Credit Union is located in Louisville, KY. The organization was established in 1944. 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 12/2021, Louisville Gas & Electric Co Credit Union employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Louisville Gas & Electric Co 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, Louisville Gas & Electric Co Credit Union generated $1.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.3% each year. All expenses for the organization totaled $1.4m during the year ending 12/2021. While expenses have increased by 4.2% 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 COOPERATIVE FINANCIAL SERVICES FOR MEMBERSHIP.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE COOPERATIVE FINANCIAL SERVICES FOR MEMBERSHIP.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sharon Beaven President | Officer | 40 | $83,551 |
Richard Dowdell Director | Trustee | 1 | $0 |
Jim Steed Director | Trustee | 1 | $0 |
Aaron Yocum Director | Trustee | 1 | $0 |
Jacob Mauzey Director | Trustee | 1 | $0 |
Elaine Welsh 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 | $947,809 |
| Investment income | $301,094 |
| 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 | $1,622,065 |
| 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. | $83,551 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $378,055 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $37,374 |
| Other employee benefits | $50,702 |
| Payroll taxes | $34,594 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $491 |
| Fees for services: Accounting | $26,518 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $9,884 |
| Advertising and promotion | $12,331 |
| Office expenses | $35,762 |
| Information technology | $232,828 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,430 |
| Interest | $220,529 |
| Payments to affiliates | $12,816 |
| Depreciation, depletion, and amortization | $13,402 |
| Insurance | $20,074 |
| All other expenses | $0 |
| Total functional expenses | $1,367,709 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $133,264 |
| Savings and temporary cash investments | $20,850,541 |
| 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 | $23,989,008 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $39,111 |
| Net Land, buildings, and equipment | $19,345 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $597,150 |
| Intangible assets | $0 |
| Other assets | $49,951 |
| Total assets | $45,678,370 |
| Accounts payable and accrued expenses | $65,536 |
| 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 | $39,239,524 |
| Total liabilities | $39,305,060 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $514,475 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $5,858,835 |
| Total liabilities and net assets/fund balances | $45,678,370 |
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