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.
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 |
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 |
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 |
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544 C E S Credit Union Inc Mount Vernon, OH | $148,510,347 | $7,952,688 |
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1087 Millstream Area Credit Union Inc Findlay, OH | $45,423,986 | $3,772,125 |
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