American Pride Credit Union
- Assets
- $22.4m
- Revenue
- $881.9k
- Investments
- $13.3m
- Employees
- 8
- Location
- Altoona, PA
- Founding
- Data as of
- 12/2023
- EIN
- 23-0340750
Organization Overview
American Pride Credit Union is located in Altoona, PA. As of 12/2023, American Pride Credit Union employed 8 individuals. American Pride 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, American Pride Credit Union generated $881.9k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 5.6% each year. All expenses for the organization totaled $599.1k during the year ending 12/2023. While expenses have increased by 1.5% per year over the past 9 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
THE CREDIT UNION PROMOTES THRIFT AMONG ITS MEMBERS AND CREATES A SOURCE OF CREDIT AT REASONABLE RATES OF INTEREST WHILE PROVIDING AN OPPORTUNITY FOR ITS MEMBERS TO USE AND CONTROL THEIR MONEY ON A DEMOCRATIC BASIS IN ORDER TO IMPROVE THEIR ECONOMIC AND SOCIAL CONDITIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING LOW INTEREST LOANS TO MEMBERS PROVIDING THE OPPORTUNITY FOR MEMBERS TO OPEN CHECKING AND SAVINGS ACCOUNTS AT COMPETITIVE RATES PROVIDING INVESTMENT SERVICES FOR MEMBERS RETIREMENT ACCOUNTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nick F Spallone President | OfficerTrustee | 1 | $0 |
John A Potopa 2nd Vice President | OfficerTrustee | 1 | $0 |
Robert D Lender Treasurer | OfficerTrustee | 1 | $1,380 |
Jon C Frank Secretary | OfficerTrustee | 1 | $1,020 |
Denise M Reeder Director | OfficerTrustee | 1 | $0 |
Jonathan E Mifflin Director | OfficerTrustee | 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 | $312,416 |
| Investment income | $379,329 |
| 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 | $881,893 |
| 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. | $76,022 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $102,109 |
| Pension plan accruals and contributions | $10,616 |
| Other employee benefits | $10,506 |
| Payroll taxes | $17,805 |
| Fees for services: Management | $9,883 |
| 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 | $2,183 |
| Office expenses | $56,823 |
| Information technology | $39,756 |
| Royalties | $0 |
| Occupancy | $30,495 |
| Travel | $14 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $23,228 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $25,164 |
| Insurance | $17,340 |
| All other expenses | $0 |
| Total functional expenses | $599,147 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $593,504 |
| Savings and temporary cash investments | $0 |
| 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 | $7,514,017 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $57,859 |
| Net Land, buildings, and equipment | $733,643 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $13,310,868 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $183,851 |
| Total assets | $22,393,742 |
| Accounts payable and accrued expenses | $536 |
| 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 | $231,577 |
| Total liabilities | $232,113 |
| 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 | $20,110,071 |
| Retained earnings, endowment, accumulated income, or other funds | $2,051,558 |
| Total liabilities and net assets/fund balances | $22,393,742 |