37 Kemba Financial Credit Union
- Assets
- $2.0b
- Revenue
- $95.5m
- Investments
- $2.7m
- Employees
- 563
- Location
- Gahanna, OH
- Founding
- 04/1969
- Data as of
- 12/2022
- EIN
- 31-6034826
Organization Overview
37 Kemba Financial Credit Union is located in Gahanna, 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, 37 Kemba Financial Credit Union employed 563 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. 37 Kemba Financial 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 12/2022, 37 Kemba Financial Credit Union generated $95.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.4% each year. All expenses for the organization totaled $70.7m during the year ending 12/2022. While expenses have increased by 7.2% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE INNOVATIVE, CONVENIENT AND COMPETITIVELY PRICED FINANCIAL SERVICES THAT CONTRIBUTE TO THE WELL BEING OF OUR MEMBERS BY PROMOTING THRIFT AND PROVIDING CREDIT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE FINANCIAL SERVICES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gerald Guy Assistant To President/ceo | 5 | $923,582 | |
Mark Decello President/ceo | Officer | 50 | $871,383 |
Donna Grimmett CFO | Officer | 50 | $336,020 |
Ken Blevins Chief Technology Officer | Officer | 40 | $288,098 |
Amy Peterman Chief Operating Officer | Officer | 45 | $273,096 |
John Mavrouleas Commercial Bdo | 45 | $274,726 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ncr Corporation Itm Servicing | 12/30/22 | $893,727 |
Atm Solutions Atm Cash Replenishment | 12/30/22 | $532,879 |
Chex Systems Inc Reporting Services | 12/30/22 | $248,294 |
Trans Union Corporation Credit Reporting | 12/30/22 | $223,324 |
Yardmaster Of Columbus Inc Landscaping/snow Removal | 12/30/22 | $200,283 |
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 | $1,500 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,500 |
| Total Program Service Revenue | $89,830,235 |
| Investment income | $5,627,672 |
| 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 | $95,459,407 |
| 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 | $12,106,735 |
| Compensation of current officers, directors, key employees. | $3,406,358 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $15,206,730 |
| Pension plan accruals and contributions | $1,911,622 |
| Other employee benefits | $5,174,455 |
| Payroll taxes | $1,559,585 |
| Fees for services: Management | $414,820 |
| Fees for services: Legal | $134,793 |
| Fees for services: Accounting | $263,527 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $3,600 |
| Fees for services: Other | $1,730,285 |
| Advertising and promotion | $3,909,833 |
| Office expenses | $1,920,501 |
| Information technology | $3,579,565 |
| Royalties | $0 |
| Occupancy | $1,652,473 |
| Travel | $82,658 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $156,666 |
| Interest | $1,046,357 |
| Payments to affiliates | $154,742 |
| Depreciation, depletion, and amortization | $4,139,733 |
| Insurance | $99,628 |
| All other expenses | $2,099,661 |
| Total functional expenses | $70,738,895 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $19,920,203 |
| Savings and temporary cash investments | $78,273,553 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,054,469 |
| Loans from Officers, Directors, or Controlling Persons | $20,046,736 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,482,507,420 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $7,248,422 |
| Net Land, buildings, and equipment | $36,249,018 |
| Investments—publicly traded securities | $278,734,396 |
| Investments—other securities | $2,690,101 |
| Investments—program-related | $8,317,646 |
| Intangible assets | $0 |
| Other assets | $26,033,156 |
| Total assets | $1,965,075,120 |
| Accounts payable and accrued expenses | $33,555,048 |
| Grants payable | $0 |
| Deferred revenue | $2,111,477 |
| 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 | $42,443,356 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,670,614,525 |
| Total liabilities | $1,748,724,406 |
| 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 | $216,350,714 |
| Total liabilities and net assets/fund balances | $1,965,075,120 |