heartland credit union is located in springfield, IL. As of 12/2021, heartland credit union employed 96 individuals. heartland 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 12/2021, heartland credit union generated $15.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.3% each year. All expenses for the organization totaled $11.5m during the year ending 12/2021. While expenses have increased by 3.2% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO ASSISTS OUR MEMBERS IN THE MANAGEMENT OF THEIR FINANCIAL WELL-BEING BY PROVIDING LOANS, SAVINGS ACCOUNTS AND OTHER FINANCIAL SERVICES IN A FRIENDLY AND PROFESSIONAL MANNER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RECEIVES DEPOSITS ON SAVINGS AND CHECKING ACCOUNTS FROM MEMBERS.
ISSUES CERTIFICATES OF DEPOSITS TO MEMEBRS.
PROVIDES CONSUMER LOANS TO MEMBERS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Thomas Lex President/ceo | Officer | 50 | $347,123 |
David Bretz Chief Financial Officer | Officer | 50 | $186,182 |
Timothy Torricelli Mortgage Loan Officer | 50 | $172,236 | |
Corie Johnston Chief Administrative Officer | Officer | 50 | $142,727 |
Kristen Anello VP Of Information Systems | 50 | $131,955 | |
Katie Patsche Chief Operating Officer | Officer | 50 | $129,621 |
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 | $14,524,815 |
Investment income | $714,330 |
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 | $15,239,145 |
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. | $969,332 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $3,880,687 |
Pension plan accruals and contributions | $256,012 |
Other employee benefits | $415,064 |
Payroll taxes | $348,507 |
Fees for services: Management | $0 |
Fees for services: Legal | $1,334 |
Fees for services: Accounting | $108,620 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $136,959 |
Advertising and promotion | $314,718 |
Office expenses | $299,009 |
Information technology | $655,592 |
Royalties | $0 |
Occupancy | $476,859 |
Travel | $94,065 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $364,128 |
Insurance | $109,404 |
All other expenses | -$1,728 |
Total functional expenses | $11,476,298 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $2,576,054 |
Savings and temporary cash investments | $128,262,766 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $0 |
Loans from Officers, Directors, or Controlling Persons | $4,145,160 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $278,749,742 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $2,580,528 |
Net Land, buildings, and equipment | $5,436,210 |
Investments—publicly traded securities | $0 |
Investments—other securities | $5,607,474 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $4,294,265 |
Total assets | $431,652,199 |
Accounts payable and accrued expenses | $2,247,030 |
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 | $385,904,833 |
Total liabilities | $388,151,863 |
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 | $43,500,336 |
Total liabilities and net assets/fund balances | $431,652,199 |
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