River Valley Credit Union Inc
- Assets
- $442.4m
- Revenue
- $19.8m
- Investments
- $15.0m
- Employees
- 105
- Location
- Miamisburg, OH
- Founding
- 04/1969
- Data as of
- 12/2022
- EIN
- 31-0547898
Organization Overview
River Valley Credit Union Inc is located in Miamisburg, OH. The organization was established in 1969. 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 12/2022, River Valley Credit Union Inc employed 105 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. River Valley Credit Union Inc 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 12/2022, River Valley Credit Union Inc generated $19.8m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.6% each year. All expenses for the organization totaled $16.1m during the year ending 12/2022. While expenses have increased by 1.7% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
A NON-PROFIT FINANCIAL INSTITUTION THAT IS OWNED AND OPERATED ENTIRELY BY ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED FINANCIAL SERVICES TO ITS MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Aaron Burke Secretary | OfficerTrustee | 1 | $0 |
Daniel J Gorman Chairperson | OfficerTrustee | 1 | $0 |
Jeffrey Stapleton Director | Trustee | 1 | $0 |
Stephen Hall Director | Trustee | 1 | $0 |
Anne Burke Director | Trustee | 1 | $0 |
Velma Amos 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 | $18,113,561 |
| Investment income | $1,706,932 |
| 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 | $19,820,493 |
| 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. | $1,539,262 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,384,383 |
| Pension plan accruals and contributions | $844,470 |
| Other employee benefits | $603,329 |
| Payroll taxes | $431,189 |
| Fees for services: Management | $36,973 |
| Fees for services: Legal | $60,000 |
| 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 | $82,372 |
| Advertising and promotion | $360,000 |
| Office expenses | $1,712,754 |
| Information technology | $608,978 |
| Royalties | $0 |
| Occupancy | $487,004 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $22,458 |
| Interest | $2,333,345 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $361,082 |
| Insurance | $237,202 |
| All other expenses | $0 |
| Total functional expenses | $16,128,781 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,838,403 |
| Savings and temporary cash investments | $17,793,964 |
| 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 | $354,013,079 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $932,594 |
| Net Land, buildings, and equipment | $4,637,079 |
| Investments—publicly traded securities | $40,433,597 |
| Investments—other securities | $15,000,194 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,740,576 |
| Total assets | $442,389,486 |
| Accounts payable and accrued expenses | $3,803,178 |
| 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 | $17,041,721 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $381,641,457 |
| Total liabilities | $402,486,356 |
| 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 | $39,903,130 |
| Total liabilities and net assets/fund balances | $442,389,486 |