Viriva Community Credit Union
- Assets
- $82.9m
- Revenue
- $3.7m
- Investments
- $174.7k
- Employees
- 27
- Location
- Warminster, PA
- Founding
- 09/1945
- Data as of
- 12/2020
- EIN
- 23-1370529
Organization Overview
Viriva Community Credit Union is located in Warminster, PA. The organization was established in 1945. 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 12/2020, Viriva Community Credit Union employed 27 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Viriva Community 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 12/2020, Viriva Community Credit Union generated $3.7m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.9% each year. All expenses for the organization totaled $4.0m during the year ending 12/2020. While expenses have increased by 2.9% per year over the past 6 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
CREATING A SOURCE OF CREDIT FOR ITS MEMBERS AT REASONABLE RATES OF INTEREST.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CREDIT UNIONS ARE COOPERATIVE SAVINGS AND CREDIT ASSOCIATIONS INCORPORATED FOR THE PURPOSE OF PROMOTING THRIFT AMONG ITS MEMBERS, CREATING A SOURCE OF CREDIT FOR SUCH MEMBERS AT REASONABLE RATES OF INTEREST AND PROVIDING AN OPPORTUNITY FOR ITS MEMBERS TO USE AND CONTROL THEIR OWN MONEY ON A DEMOCRATIC BASIS IN ORDER TO IMPROVE THEIR ECONOMIC AND SOCIAL CONDITIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Mccaw President/ceo | OfficerTrustee | 45 | $157,688 |
Edward Keidat Vice Chair | OfficerTrustee | 1 | $0 |
Joseph Keller Chair | OfficerTrustee | 1 | $0 |
Mel Payne Director | Trustee | 1 | $0 |
Samuel Bradley Director | Trustee | 1 | $0 |
Ralph Viguers 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 | $2,047,817 |
| Investment income | $615,476 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $41,081 |
| Net Gain/Loss on Asset Sales | $72,535 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,723,537 |
| 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. | $182,195 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,118,322 |
| Pension plan accruals and contributions | $14,033 |
| Other employee benefits | $14,951 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $21,229 |
| Fees for services: Accounting | $25,931 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $350 |
| Fees for services: Other | $585,507 |
| Advertising and promotion | $45,615 |
| Office expenses | $181,117 |
| Information technology | $221,337 |
| Royalties | $0 |
| Occupancy | $87,440 |
| Travel | $19,344 |
| 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 | $113,521 |
| Insurance | $40,306 |
| All other expenses | $31,324 |
| Total functional expenses | $4,049,341 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $190,129 |
| Savings and temporary cash investments | $15,429,394 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $434,833 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $38,784,938 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $235,667 |
| Net Land, buildings, and equipment | $2,028,577 |
| Investments—publicly traded securities | $24,302,030 |
| Investments—other securities | $174,714 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,311,850 |
| Total assets | $82,892,132 |
| Accounts payable and accrued expenses | $693,780 |
| 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 | $74,626,533 |
| Total liabilities | $75,320,313 |
| 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 | $7,571,819 |
| Total liabilities and net assets/fund balances | $82,892,132 |
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