Louisiana Credit Union League
- Assets
- $6.4m
- Revenue
- $1.5m
- Investments
- $1.0k
- Employees
- 13
- Location
- Harahan, LA
- Founding
- 06/1949
- Data as of
- 12/2021
- EIN
- 72-0244197
Organization Overview
Louisiana Credit Union League is located in Harahan, LA. The organization was established in 1949. 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, Louisiana Credit Union League employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Louisiana 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, Louisiana Credit Union League generated $1.5m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.3%) each year. All expenses for the organization totaled $1.4m 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
SERVICES TO CREDIT UNIONS
Describe the Organization's Program Activity:
Part 3 - Line 4a
SERVICES TO CREDIT UNIONS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Gallman President & CEO | Officer | 20 | $61,294 |
Joyce Butler Director | Trustee | 2 | $0 |
Lawoka Bolden Director | Trustee | 2 | $0 |
Chris Craighead Director | Trustee | 2 | $0 |
Helen Delin Director | Trustee | 2 | $0 |
Judy Delucca Director | Trustee | 2 | $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 | $1,511,198 |
| Investment income | $10,093 |
| 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 | $1,521,291 |
| 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. | $61,294 |
| Compensation of current officers, directors, key employees. | $20,926 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $592,470 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $145,809 |
| 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 | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $32,871 |
| Travel | $28,853 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $50,665 |
| Total functional expenses | $1,424,778 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,091,460 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,106,822 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $114,217 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,000 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $107,409 |
| Total assets | $6,420,908 |
| Accounts payable and accrued expenses | $193,893 |
| Grants payable | $0 |
| Deferred revenue | $172,790 |
| 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 | $98,469 |
| Total liabilities | $465,152 |
| Net assets without donor restrictions | $5,886,293 |
| Net assets with donor restrictions | $69,463 |
| 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 | $6,420,908 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Louisiana Credit Union League has recieved totaling $5,300.
| Awarding Organization | Amount |
|---|---|
Michigan Credit Union Foundation Plymouth, MI PURPOSE: FINANCIAL COUNSELING PROGRAM | $5,300 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Navigator Credit Union Pascagoula, MS | $437,761,691 | $21,926,267 |
Coastlife Credit Union Corpus Christi, TX | $459,349,679 | $21,652,843 |
Mct Credit Union Port Neches, TX | $363,107,409 | $15,984,837 |
Americas Credit Union Garland, TX | $409,491,001 | $16,218,007 |
First Basin Credit Union Odessa, TX | $306,636,605 | $15,708,343 |
Texoma Community Credit Union Wichita Falls, TX | $259,230,472 | $16,333,220 |
State Chartered Credit Unions In Mississippi Vicksburg, MS | $302,589,951 | $14,982,675 |
First Central Credit Union Waco, TX | $142,192,635 | $12,212,863 |
Gulf Credit Union Groves, TX | $336,623,302 | $15,838,269 |
Energy Capital Credit Union Houston, TX | $259,660,339 | $11,030,260 |
State Chartered Credit Unions In Louisiana Lake Charles, LA | $153,121,704 | $12,096,894 |
Investex Credit Union Humble, TX | $266,144,576 | $10,751,669 |