Kemba Louisville Credit Union
- Assets
- $58.2m
- Revenue
- $2.4m
- Investments
- $0.0
- Employees
- 14
- Location
- Louisville, KY
- Founding
- 12/1944
- Data as of
- 12/2023
- EIN
- 61-6027588
Organization Overview
Kemba Louisville 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 12/2023, Kemba Louisville Credit Union employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kemba Louisville 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, Kemba Louisville Credit Union generated $2.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.2% each year. All expenses for the organization totaled $2.2m during the year ending 12/2023. While expenses have increased by 2.1% per year over the past 8 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
SEE SCHEDULE O PAGE 2
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE FINANCIAL SERVICES TO OUR MEMBERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Timothy Head Presidentmanager | Officer | 45 | $121,080 |
Kristen Hodges Board Member | Trustee | 0.5 | $0 |
Donald Diebold Jr Board Member | Trustee | 0.5 | $0 |
Tom Stokes Board Member | Trustee | 0.5 | $0 |
Frank Polion Board Member | Trustee | 0.5 | $0 |
Joseph Cordaro Jr Treasurer | Trustee | 0.5 | $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 | $2,393,486 |
| Investment income | $0 |
| 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 | $2,393,486 |
| 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 | $241,728 |
| Compensation of current officers, directors, key employees. | $121,080 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $439,016 |
| Pension plan accruals and contributions | $44,585 |
| Other employee benefits | $88,227 |
| Payroll taxes | $41,225 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,799 |
| Fees for services: Accounting | $14,998 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $29,008 |
| Advertising and promotion | $23,974 |
| Office expenses | $489,809 |
| Information technology | $250,560 |
| Royalties | $0 |
| Occupancy | $70,281 |
| Travel | $8,495 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,738 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $26,763 |
| Insurance | $29,331 |
| All other expenses | $0 |
| Total functional expenses | $2,238,037 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $686,809 |
| Savings and temporary cash investments | $31,471,418 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $70,846 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $13,678,934 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $129,516 |
| Net Land, buildings, and equipment | $349,821 |
| Investments—publicly traded securities | $11,325,693 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $480,589 |
| Total assets | $58,193,626 |
| Accounts payable and accrued expenses | $313,157 |
| 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 | $46,326,762 |
| Total liabilities | $46,639,919 |
| 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 | $11,553,707 |
| Total liabilities and net assets/fund balances | $58,193,626 |