Mississippi Credit Union League
- Assets
- $2.8m
- Revenue
- $1.0m
- Investments
- $0.0
- Employees
- 3
- Location
- Jackson, MS
- Founding
- 11/1965
- Data as of
- 12/2021
- EIN
- 64-0334054
Organization Overview
Mississippi Credit Union League is located in Jackson, MS. The organization was established in 1965. 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, Mississippi Credit Union League employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mississippi Credit Union League is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2021, Mississippi Credit Union League generated $1.0m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.3%) each year. All expenses for the organization totaled $1.0m during the year ending 12/2021. 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
PROVIDE ASSISTANCE TO MISSISSIPPI CREDIT UNIONS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTION, TECHNICAL ADVICE AND ASSISTANCE PROVIDED TO CREDIT UNIONS OPERATING IN THE STATE OF MISSISSIPPI
PROVIDE FINANCIAL ASSISTANCE TO NEWLY ORGANIZED CREDIT UNIONS AS WELL AS PREVIOUSLY EXISTING CREDIT UNIONS IN NEED OF SUCH ASSISTANCE.
PROMOTION, TECHNICAL ADVICE AND ASSISTANCE PROVIDED TO CREDIT UNIONS OPERATING IN THE STATE OF MISSISSIPPI.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charles E Elliott Jr President/ce | Officer | 40 | $220,737 |
Sheila Bridges Director/vic | OfficerTrustee | $0 | |
Katie Nelson Director/tre | OfficerTrustee | $0 | |
Chris Hammond Director/cha | OfficerTrustee | $0 | |
Jimmy Smith Director/pas | OfficerTrustee | $0 | |
Peggy Dear Phillips Senior Vice | Officer | 40 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $744,306 |
| 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 | $744,306 |
| Total Program Service Revenue | $220,753 |
| Investment income | $22,644 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $16,000 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,003,703 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $406,959 |
| Pension plan accruals and contributions | $33,822 |
| Other employee benefits | $29,243 |
| Payroll taxes | $26,021 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,426 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $2,408 |
| Information technology | $9,786 |
| Royalties | $0 |
| Occupancy | $22,800 |
| Travel | $9,814 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,951 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $43,258 |
| Insurance | $14,048 |
| All other expenses | $87,805 |
| Total functional expenses | $1,004,662 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,206,620 |
| Savings and temporary cash investments | $100,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $456,180 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $932,415 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $7,428 |
| Net Land, buildings, and equipment | $36,461 |
| Investments—publicly traded securities | $59,290 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,798,394 |
| Accounts payable and accrued expenses | $113,817 |
| Grants payable | $0 |
| Deferred revenue | $766,162 |
| 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 | $0 |
| Total liabilities | $879,979 |
| Net assets without donor restrictions | $1,918,415 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $2,798,394 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Navigator Credit Union Pascagoula, MS | $437,761,691 | $21,926,267 |
Memphis City Employees Credit Union Memphis, TN | $441,662,639 | $21,190,840 |
Alabama State Employees Credit Union Montgomery, AL | $434,037,642 | $19,973,256 |
Alabama Teachers Credit Union Gadsden, AL | $477,477,278 | $19,350,763 |
Cornerstone Financial Credit Union Nashville, TN | $522,943,459 | $21,028,853 |
Credit Unions In The State Of Alabama Gadsden, AL | $384,172,678 | $21,033,823 |
U S Community Credit Union Nashville, TN | $215,456,515 | $14,802,772 |
State Chartered Credit Unions In Mississippi Vicksburg, MS | $302,589,951 | $14,982,675 |
The Tennessee Credit Union Nashville, TN | $408,777,901 | $12,031,552 |
Old Hickory Credit Union Old Hickory, TN | $313,316,175 | $12,481,869 |
Mutual Savings Birmingham, AL | $217,478,712 | $10,770,188 |
State Chartered Credit Unions In Louisiana Lake Charles, LA | $153,121,704 | $12,096,894 |