Rockford Bell Credit Union
- Assets
- $39.1m
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 37
- Location
- Loves Park, IL
- Founding
- 07/1934
- Data as of
- 12/2023
- EIN
- 36-1695055
Organization Overview
Rockford Bell Credit Union is located in Loves Park, IL. The organization was established in 1934. 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 12/2023, Rockford Bell Credit Union employed 37 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rockford Bell 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 12/2023, Rockford Bell Credit Union generated $1.8m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 3.7% each year. All expenses for the organization totaled $1.7m during the year ending 12/2023. While expenses have increased by 3.5% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
ROCKFORD BELL CREDIT UNION PROVIDES LOANS, SAVINGS ACCOUNTS AND OTHER FINANCIAL SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED CONSUMER LOANS TO 1,276 MEMBERS.
PROVIDED REAL ESTATE LOANS TO 312 MEMBERS.
RECEIVED DEPOSITS ON SAVINGS AND CHECKING ACCOUNTS FOR 5,871 MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alexis Bj Secretary | OfficerTrustee | 1 | $0 |
Conness Donald Chairperson | OfficerTrustee | 1 | $0 |
Davis Dennis Board Member | Trustee | 1 | $0 |
Gioppo Daniel Board Member | Trustee | 1 | $0 |
Hansen John R President CEO | OfficerTrustee | 40 | $99,364 |
Langkamp Duane Treasurer | OfficerTrustee | 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 | $1,659,266 |
| Investment income | $77,893 |
| 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 | $1,827,159 |
| 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. | $116,693 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $573,821 |
| Pension plan accruals and contributions | $6,362 |
| Other employee benefits | $82,998 |
| Payroll taxes | $50,041 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,964 |
| Fees for services: Accounting | $23,215 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $163,332 |
| Advertising and promotion | $42,439 |
| Office expenses | $148,082 |
| Information technology | $16,770 |
| Royalties | $0 |
| Occupancy | $87,958 |
| Travel | $3,745 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,839 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $64,792 |
| Insurance | $35,661 |
| All other expenses | $0 |
| Total functional expenses | $1,743,818 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $248,100 |
| Savings and temporary cash investments | $2,851,424 |
| 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 | $34,525,184 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $90,768 |
| Net Land, buildings, and equipment | $777,220 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $180,100 |
| Other assets | $461,131 |
| Total assets | $39,133,927 |
| Accounts payable and accrued expenses | $159,965 |
| 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 | $33,942,566 |
| Total liabilities | $34,102,531 |
| 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 | $5,031,396 |
| Total liabilities and net assets/fund balances | $39,133,927 |