1246 Genesis Employees Credit Union
- Assets
- $19.0m
- Revenue
- $672.4k
- Investments
- $0.0
- Employees
- 5
- Location
- Zanesville, OH
- Founding
- 04/1969
- Data as of
- 12/2021
- EIN
- 31-0842279
Organization Overview
1246 Genesis Employees Credit Union is located in Zanesville, 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 12/2021, 1246 Genesis Employees Credit Union employed 5 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. 1246 Genesis Employees 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 12/2021, 1246 Genesis Employees Credit Union generated $672.4k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.6% each year. All expenses for the organization totaled $580.5k during the year ending 12/2021. While expenses have increased by 0.2% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
GENESIS EMPLOYEES CREDIT UNION INC. IS A FINANCIAL INSTITUTION COOPERATIVE ORGANIZED TO PROVIDE LOAN AND DEPOSIT PRODUCTS AND SERVICES FOR ITS MEMBER OWNERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION IS A STATE CHARTERED MEMBER OWNED COOPERATIVE CREDIT UNION THAT PROVIDES FINANCIAL PRODUCTS AND SERVICES TO THE MEMBER OWNERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael King Chief Executive Officer | Officer | 40 | $54,066 |
Beth Chapman President Of Board | Trustee | 1 | $0 |
Eric King Director | Trustee | 1 | $0 |
Judy Pyle Treasurer Of Board | Trustee | 1 | $0 |
Terry Wilson Director | Trustee | 1 | $0 |
Nancy Ring 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 | $665,477 |
| Investment income | $6,951 |
| 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 | $672,428 |
| 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. | $54,066 |
| Compensation of current officers, directors, key employees. | $27,033 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $152,112 |
| Pension plan accruals and contributions | $10,309 |
| Other employee benefits | $33,528 |
| Payroll taxes | $15,773 |
| Fees for services: Management | $9,712 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $17,008 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $4,567 |
| Office expenses | $44,678 |
| Information technology | $33,828 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $791 |
| Interest | $34,691 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,146 |
| Insurance | $10,633 |
| All other expenses | $1,156 |
| Total functional expenses | $580,464 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $156,454 |
| Savings and temporary cash investments | $7,017,086 |
| 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 | $8,207,088 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $74,411 |
| Net Land, buildings, and equipment | $764 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $3,318,192 |
| Intangible assets | $0 |
| Other assets | $203,160 |
| Total assets | $18,977,155 |
| Accounts payable and accrued expenses | $57,477 |
| 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 | $16,942,612 |
| Total liabilities | $17,000,089 |
| 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 | $1,977,066 |
| Total liabilities and net assets/fund balances | $18,977,155 |
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