Chicago Fire-Fighters Credit Union
- Assets
- $77.1m
- Revenue
- $2.7m
- Investments
- $800.0k
- Employees
- 7
- Location
- Chicago, IL
- Founding
- 10/1937
- Data as of
- 12/2022
- EIN
- 36-0862203
Organization Overview
Chicago Fire-Fighters Credit Union is located in Chicago, IL. The organization was established in 1937. According to its NTEE Classification (M24) the organization is classified as: Fire Prevention, under the broad grouping of Public Safety, Disaster Preparedness & Relief and related organizations. As of 12/2022, Chicago Fire-Fighters Credit Union employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Chicago Fire-Fighters 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, Chicago Fire-Fighters Credit Union generated $2.7m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.7% each year. All expenses for the organization totaled $1.8m during the year ending 12/2022. While expenses have increased by 3.6% 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
CREDIT UNION TO PROMOTE THRIFT AND PROVIDE LOW COST LOANS TO OUR MEMBERS THIS IS ACCOMPLISHED ON A COOP NONPROFIT BASIS
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROMOTE THRIFT AND PROVIDE LOW COST LOANS TO OUR MEMBERS. THIS IS ACCOMPLISHED ON A CO-OPERATIVE NON-PROFIT BASIS FOR THE MUTUAL BENEFIT OF OUR MEMBERSHIP
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert S Reynolds Former Prestreas | Trustee | 1 | $3,175 |
Gloria L Hnojsky Presidentceo | Officer | 40 | $184,583 |
Gloria L Hnojsky Former Vpsecretary | Officer | $0 | |
Margaret L Doran Operations Manger | 40 | $102,858 | |
Michael V Dudak Chairman | Trustee | 1 | $0 |
Matthew Sullivan Treasurersecretary | 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 | $1,901,095 |
| Investment income | $471,646 |
| 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 | $2,659,682 |
| 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. | $210,509 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $417,371 |
| Pension plan accruals and contributions | $23,150 |
| Other employee benefits | $92,427 |
| Payroll taxes | $44,306 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,731 |
| Fees for services: Accounting | $10,578 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $532 |
| Advertising and promotion | $30,127 |
| Office expenses | $51,401 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $102,595 |
| Travel | $6,129 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $200 |
| Interest | $249,853 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $60,924 |
| Insurance | $41,051 |
| All other expenses | $114,600 |
| Total functional expenses | $1,777,163 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $22,684 |
| Savings and temporary cash investments | $14,157,540 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $10,656 |
| Loans from Officers, Directors, or Controlling Persons | $41,717 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $40,940,056 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $966,641 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $800,000 |
| Investments—program-related | $19,407,000 |
| Intangible assets | $0 |
| Other assets | $787,058 |
| Total assets | $77,133,352 |
| Accounts payable and accrued expenses | $170,100 |
| 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 | $66,858,080 |
| Total liabilities | $67,028,180 |
| 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 | $10,105,172 |
| Total liabilities and net assets/fund balances | $77,133,352 |