Sharefax Credit Union Inc is located in Cincinnati, 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 12/2020, Sharefax Credit Union Inc employed 90 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Sharefax 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 12/2020, Sharefax Credit Union Inc generated $16.8m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.9% each year. All expenses for the organization totaled $14.3m during the year ending 12/2020. While expenses have increased by 2.7% 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
WE ARE A MEMBER-OWNED, NOT-FOR-PROFIT FINANCIAL INSTITUTION. OUR MISSION: WE ARE A COOPERATIVE FORMED FOR THE SOLE PURPOSE OF IMPROVING THE FINANCIAL WELL BEING OF OUR MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THIS IS NOT APPLICABLE TO THE CREDIT UNION.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Art Kremer President/ceo | Officer | 40 | $316,313 |
Carrie Cox CFO | Officer | 40 | $134,464 |
Margaret Moffitt VP Operations | 40 | $130,991 | |
Carl Fite VP Information System | 40 | $123,212 | |
Dennis Messer Chairperson | Trustee | 1 | $0 |
Daniel Murphy Board Secretary | Trustee | 1 | $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 | $10,893,979 |
Investment income | $1,598,990 |
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 | $16,755,561 |
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. | $450,776 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $3,594,611 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $568,300 |
Payroll taxes | $285,679 |
Fees for services: Management | $0 |
Fees for services: Legal | $7,557 |
Fees for services: Accounting | $42,076 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $0 |
Advertising and promotion | $247,070 |
Office expenses | $102,218 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $419,955 |
Travel | $1,611 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $41,607 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $95,917 |
Insurance | $0 |
All other expenses | $356,143 |
Total functional expenses | $14,250,112 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $1,298,077 |
Savings and temporary cash investments | $119,965,857 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $122,698 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $282,263,163 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $130,479 |
Net Land, buildings, and equipment | $4,974,332 |
Investments—publicly traded securities | $615,847 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $21,521,328 |
Total assets | $430,891,781 |
Accounts payable and accrued expenses | $1,625,118 |
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 | $0 |
Total liabilities | $1,625,118 |
Net assets without donor restrictions | $0 |
Net assets with donor restrictions | $0 |
Capital stock or trust principal, or current funds | $388,407,031 |
Paid-in or capital surplus, or land, building, or equipment fund | $0 |
Retained earnings, endowment, accumulated income, or other funds | $40,859,632 |
Total liabilities and net assets/fund balances | $430,891,781 |
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 |