1087 Millstream Area Credit Union Inc
- Assets
- $45.4m
- Revenue
- $3.8m
- Investments
- $2.9m
- Employees
- 32
- Location
- Findlay, OH
- Founding
- 04/1969
- Data as of
- 12/2019
- EIN
- 34-6572293
Organization Overview
1087 Millstream Area Credit Union Inc is located in Findlay, 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 12/2018, 1087 Millstream Area Credit Union Inc employed 32 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. 1087 Millstream Area 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 12/2019, 1087 Millstream Area Credit Union Inc generated $3.8m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 2.9% each year. All expenses for the organization totaled $3.4m during the year ending 12/2019. While expenses have increased by 3.2% 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
THE PURPOSE OF THIS CREDIT UNION SHALL BE TO PROMOTE THRIFT AND TO PROVIDE CREDIT FOR ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE QUALITY FINANCIAL SERVICES TO MEMBERS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Karen Reams President/ceo | Officer | 50 | $126,568 |
Joshua Reams Executive Vice President | Officer | 40 | $89,410 |
Jeff Fort Secretary | OfficerTrustee | 1 | $0 |
Steve Rupe Chairperson | OfficerTrustee | 1 | $0 |
Richard Kozlowski Treasurer | OfficerTrustee | 1 | $0 |
Pat Swisher Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $260,890 |
| 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 | $3,772,125 |
| Statement of Expenses | |
|---|---|
| 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. | $240,323 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $773,094 |
| Pension plan accruals and contributions | $28,969 |
| Other employee benefits | $244,451 |
| Payroll taxes | $75,276 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,313 |
| Fees for services: Accounting | $39,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $179,091 |
| Office expenses | $987,124 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $67,545 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $238,081 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $119,050 |
| Insurance | $35,361 |
| All other expenses | $0 |
| Total functional expenses | $3,377,925 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $932,303 |
| Savings and temporary cash investments | $5,836,189 |
| 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 | $28,100,770 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Investments—publicly traded securities | $4,485,358 |
| Investments—other securities | $2,919,846 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $929,908 |
| Total assets | $45,423,986 |
| Accounts payable and accrued expenses | $178,267 |
| 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 | $39,826,206 |
| Total liabilities | $40,004,473 |
| 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 |
| Total liabilities and net assets/fund balances | $5,419,513 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that 1087 Millstream Area Credit Union Inc has recieved totaling $5,000.
| Awarding Organization | Amount |
|---|---|
National Credit Union Foundation Inc Madison, WI PURPOSE: BIZ KID$ TEACHER TRAINING AND ENTREPRENEUR GRANT | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
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 |
West Liberty University Foundation Inc West Liberty, WV | $20,872,500 | $2,341,763 |
1143 Southeastern Ohio Credit Union Inc Cambridge, OH | $31,981,517 | $2,038,975 |