Credit Unions In The State Of California is located in Burlingame, CA. The organization was established in 1961. 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, Credit Unions In The State Of California employed 15 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Credit Unions In The State Of California 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, Credit Unions In The State Of California generated $3.9m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.8% each year. All expenses for the organization totaled $3.6m during the year ending 12/2023. While expenses have increased by 4.6% 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
A COOPERATIVE ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONVERTED EFT SERVICE PROVIDER TO CO-OP FINANCIAL SERVICES PROVIDING MORE DIGITAL PAYMENT OPTIONS FOR OUR MEMBERS, SUCH AS DIGITAL WALLETS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Annie Miller Chair | Trustee | 2 | $0 |
Ted Celentino Vice Chair | Trustee | 2 | $0 |
Angela Davis Treasurer | Trustee | 2 | $0 |
Abby Villavicencio Secretary | Trustee | 2 | $0 |
Reed Graham Director | Trustee | 2 | $0 |
Kaylyn Dawkins Director | Trustee | 2 | $0 |
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 | $3,306,635 |
Investment income | $580,610 |
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 | $3,887,245 |
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. | $186,203 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $1,232,686 |
Pension plan accruals and contributions | $62,402 |
Other employee benefits | $0 |
Payroll taxes | $0 |
Fees for services: Management | $0 |
Fees for services: Legal | $3,600 |
Fees for services: Accounting | $32,323 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $179,598 |
Advertising and promotion | $98,179 |
Office expenses | $528,822 |
Information technology | $153,506 |
Royalties | $0 |
Occupancy | $201,999 |
Travel | $77,345 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $469,696 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $61,048 |
Insurance | $0 |
All other expenses | $2,930 |
Total functional expenses | $3,624,049 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $1,142,791 |
Savings and temporary cash investments | $1,844,973 |
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 | $0 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $142,427 |
Net Land, buildings, and equipment | $558,741 |
Investments—publicly traded securities | $27,422,425 |
Investments—other securities | $0 |
Investments—program-related | $61,053,695 |
Intangible assets | $0 |
Other assets | $2,018,406 |
Total assets | $94,183,458 |
Accounts payable and accrued expenses | $1,152,212 |
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 | $85,563,897 |
Total liabilities | $86,716,109 |
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 | $7,467,349 |
Total liabilities and net assets/fund balances | $94,183,458 |