Quincy Postal Employees Credit Union
- Assets
- $2.7m
- Revenue
- $71.0k
- Investments
- $0.0
- Employees
- 2
- Location
- Quincy, IL
- Founding
- 09/1934
- Data as of
- 12/2021
- EIN
- 37-0773939
Organization Overview
Quincy Postal Employees Credit Union is located in Quincy, 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 12/2021, Quincy Postal Employees Credit Union employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Quincy Postal Employees 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, Quincy Postal Employees Credit Union generated $71.0k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.5% each year. All expenses for the organization totaled $62.2k during the year ending 12/2021. 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 ASSIST MEMBERS IN THE MANAGEMENT OF THEIR FINANCIAL WELL BEING BY PROVIDING LOAN, SAVINGS ACCOUNTS, AND OTHER FINANCIAL SERVICES IN A FRIENDLY AND PROFESSIONAL MANNER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE CONSUMER LOANS TO 65 MEMBERS
ISSUED SHARE CERTIFICATES TO 3 MEMBERS
RECEIVED DEPOSITS ON SAVINGS ACCOUNTS FOR 415 MEMBERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Randy Hughes President/treasurer | OfficerTrustee | 20 | $13,800 |
Linda Ensminger Board Member/credit Committee/office Manager | OfficerTrustee | 20 | $13,800 |
David Huseman Board Cahirman | OfficerTrustee | 0.5 | $0 |
James Allen Secretary/asst. Treasurer | OfficerTrustee | 2 | $0 |
David Koch Board Member/supervisory Committee | Trustee | 0.5 | $0 |
Diane Anderson Board Member/chairperson Supervisory Committee | Trustee | 2 | $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 | $33,851 |
| Investment income | $19,414 |
| 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 | $70,989 |
| 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. | $27,600 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $2,367 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $377 |
| Office expenses | $13,799 |
| Information technology | $5,372 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $352 |
| Interest | $0 |
| Payments to affiliates | $47 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $62,169 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $39,645 |
| Savings and temporary cash investments | $1,544,055 |
| 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 | $633,646 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $3,953 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $400,000 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $31,614 |
| Total assets | $2,652,913 |
| Accounts payable and accrued expenses | $919 |
| 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 | $2,376,577 |
| Total liabilities | $2,377,496 |
| 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 | $275,417 |
| Total liabilities and net assets/fund balances | $2,652,913 |
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