0053 Ih Credit Union
- Assets
- $292.0m
- Revenue
- $15.2m
- Investments
- $9.3m
- Employees
- 69
- Location
- Springfield, OH
- Founding
- 04/1969
- Data as of
- 12/2019
- EIN
- 31-0502711
Organization Overview
0053 Ih Credit Union is located in Springfield, OH. The organization was established in 1969. According to its NTEE Classification (W60) the organization is classified as: Financial Institutions, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2019, 0053 Ih Credit Union employed 69 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. 0053 Ih 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 12/2019, 0053 Ih Credit Union generated $15.2m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 9.3% each year. All expenses for the organization totaled $13.9m during the year ending 12/2019. While expenses have increased by 10.0% per year over the past 5 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
2019
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE FINANCIAL SERVICES TO ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED FINANCIAL SERVICES TO MEMBERS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robb White President/ceo | Officer | 40 | $219,317 |
Ted Shull CFO | Officer | 40 | $133,755 |
Veronica Vanbourgondien VP Hr | Officer | 40 | $90,490 |
Jim Kitchen Director | Trustee | 1 | $0 |
Tom Whitacre Director | Trustee | 1 | $0 |
Jack Kitchen 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 | $12,112,434 |
| Investment income | $2,364,879 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $766,713 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $15,244,026 |
| 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. | $443,562 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,904,609 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| 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 | $337,966 |
| Advertising and promotion | $305,551 |
| Office expenses | $4,232,282 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $507,923 |
| Travel | $150,309 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,148,738 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $82,320 |
| All other expenses | $0 |
| Total functional expenses | $13,906,180 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,006,277 |
| Savings and temporary cash investments | $6,137,276 |
| 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 | $173,448,141 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $4,519,777 |
| Investments—publicly traded securities | $88,277,983 |
| Investments—other securities | $9,290,681 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $7,307,746 |
| Total assets | $291,987,881 |
| Accounts payable and accrued expenses | $4,011,744 |
| 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 | $42,820,344 |
| Other liabilities | $191,387,095 |
| Total liabilities | $238,219,183 |
| 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 | $53,768,698 |
| Total liabilities and net assets/fund balances | $291,987,881 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Credit Unions Chartered In The State Of Michigan Lansing, MI | $746,558,780 | $43,479,866 |
Credit Unions Chartered In The State Of Michigan Flint, MI | $569,725,643 | $30,884,823 |
Anabaptist Financial Lewisburg, PA | $537,648,729 | $20,627,336 |
Sharefax Credit Union Inc Cincinnati, OH | $430,891,781 | $16,755,561 |
0053 Ih Credit Union Springfield, OH | $291,987,881 | $15,244,026 |
Opportunity Finance Network Philadelphia, PA | $152,045,945 | $16,457,655 |
544 C E S Credit Union Inc Mount Vernon, OH | $148,510,347 | $7,952,688 |
Friends Fiduciary Corporation Philadelphia, PA | $528,552,513 | $4,597,969 |
1087 Millstream Area Credit Union Inc Findlay, OH | $45,423,986 | $3,772,125 |
Credit Unions Chartered In The State Of Michigan Grandville, MI | $41,062,284 | $3,204,621 |
Christian Family Credit Union Inc North Canton, OH | $83,167,733 | $2,886,709 |
The Landmarks Financial Corporation Pittsburgh, PA | $135,338,871 | $4,443,915 |