Hoosier United Credit Union
- Assets
- $36.6m
- Revenue
- $1.0m
- Investments
- $24.1m
- Employees
- 10
- Location
- Indianapolis, IN
- Founding
- 05/1969
- Data as of
- 12/2022
- EIN
- 35-1081983
Organization Overview
Hoosier United Credit Union is located in Indianapolis, IN. The organization was established in 1969. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Hoosier United Credit Union employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hoosier United 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, Hoosier United Credit Union generated $1.0m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.6% each year. All expenses for the organization totaled $894.3k during the year ending 12/2022. While expenses have increased by 4.4% per year over the past 8 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
STATE CHARTERED CREDIT UNION WITH A STANDARD OF MEMBERS HELPING MEMBERS AND PERSONALIZED INDIVIDUAL SERVICE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LOAN AND SHARE PRODUCTS TO APPROXIMATELY 3,667 MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David F Brokaw Chairman | OfficerTrustee | 1 | $0 |
Charles Blume Vice Chairma | OfficerTrustee | 1 | $0 |
Brian Secor Secretary | OfficerTrustee | 1 | $0 |
Ben Ross Treasurer | OfficerTrustee | 1 | $0 |
Sara Maclaughlin Director | Trustee | 1 | $0 |
Brian K Shanahan 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 | $549,109 |
| Investment income | $202,552 |
| 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 | $1,024,711 |
| 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. | $94,711 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $174,311 |
| Pension plan accruals and contributions | $21,864 |
| Other employee benefits | $62,832 |
| Payroll taxes | $20,642 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,200 |
| Fees for services: Accounting | $12,154 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $117,735 |
| Advertising and promotion | $18,212 |
| Office expenses | $76,084 |
| Information technology | $17,655 |
| Royalties | $0 |
| Occupancy | $32,827 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,903 |
| Interest | $21,198 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,910 |
| Insurance | $23,035 |
| All other expenses | $0 |
| Total functional expenses | $894,317 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $260,139 |
| Savings and temporary cash investments | $0 |
| 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 | $11,765,298 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $35,210 |
| Net Land, buildings, and equipment | $17,943 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $24,111,290 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $439,396 |
| Total assets | $36,629,276 |
| Accounts payable and accrued expenses | $107,876 |
| 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 | $33,355,264 |
| Total liabilities | $33,463,140 |
| 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 | $3,166,136 |
| Total liabilities and net assets/fund balances | $36,629,276 |