Gateway Credit Union
- Assets
- $32.8m
- Revenue
- $1.0m
- Investments
- $0.0
- Employees
- 6
- Location
- Springfield, OR
- Founding
- 10/1944
- Data as of
- 12/2021
- EIN
- 93-0519645
Organization Overview
Gateway Credit Union is located in Springfield, OR. 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, Gateway Credit Union employed 6 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Gateway 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, Gateway Credit Union generated $1.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.3% each year. All expenses for the organization totaled $945.0k during the year ending 12/2021. While expenses have increased by 4.0% 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
NON-PROFIT CREDIT UNION
Describe the Organization's Program Activity:
Part 3 - Line 4a
NON-PROFIT CREDIT UNION
NON-PROFIT CREDIT UNION
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marcos Sulistio CEO | Officer | 40 | $182,764 |
Steve Cheek Board Director And Supervisory Committee | Trustee | 1 | $0 |
Russell Sirotek Supervisory Commmittee | Trustee | 1 | $0 |
Bill Powell Board Vice | Trustee | 1 | $0 |
Dale Curtis Supervisory Committee Chair | Trustee | 1 | $0 |
Cal Morgan Board 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 | $980,688 |
| Investment income | $64,694 |
| 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 | $1,045,382 |
| 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. | $182,764 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $207,662 |
| Pension plan accruals and contributions | $43,441 |
| Other employee benefits | $48,754 |
| Payroll taxes | $36,627 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,226 |
| 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 | $124,415 |
| Advertising and promotion | $10,646 |
| Office expenses | $58,674 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $47,756 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,298 |
| Interest | $3 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $231 |
| All other expenses | $7,000 |
| Total functional expenses | $945,019 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $138,823 |
| Savings and temporary cash investments | $13,343,239 |
| 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 | $18,796,557 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $23,371 |
| Net Land, buildings, and equipment | $304,997 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $235,427 |
| Total assets | $32,842,414 |
| Accounts payable and accrued expenses | $13,177 |
| 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 | $26,967,035 |
| Total liabilities | $26,980,212 |
| 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 | $5,862,202 |
| Total liabilities and net assets/fund balances | $32,842,414 |
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