Shipbuilders Credit Union
- Assets
- $115.2m
- Revenue
- $4.5m
- Investments
- $0.0
- Employees
- 45
- Location
- Manitowoc, WI
- Founding
- Data as of
- 12/2021
- EIN
- 39-0613175
Organization Overview
Shipbuilders Credit Union is located in Manitowoc, WI. As of 12/2021, Shipbuilders Credit Union employed 45 individuals. Shipbuilders 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, Shipbuilders Credit Union generated $4.5m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.6% each year. All expenses for the organization totaled $3.7m during the year ending 12/2021. While expenses have increased by 2.8% per year over the past 6 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
A COOPERATIVE NON-PROFIT ORGANIZATION INCORPORATED UNDER WISCONSIN LAW TO ENCOURAGE THRIFT AMONG ITS MEMBERS; CREATE A SOURCE OF CREDIT AT A FAIR COST AND TO PROVIDE AN OPPORTUNITY FOR ITS MEMBERS TO IMPROVE THEIR ECONOMIC AND SOCIAL CONDITION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOLDING DEPOSITS FOR AND MAKING LOANS TO MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steimle Michael T President & CEO | OfficerTrustee | 45 | $250,500 |
Wojta Paul H Chief Financial Officer | Officer | 45 | $109,809 |
Meyer Jared Vice Chair | OfficerTrustee | 2.25 | $0 |
Matczynsk Greg Secretary | OfficerTrustee | 2.25 | $0 |
Fellow D Tyler Board Chair | OfficerTrustee | 2.25 | $0 |
Nelson Todd MD Treasurer | OfficerTrustee | 2.25 | $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 | $4,370,130 |
| Investment income | $149,999 |
| 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 | $4,530,315 |
| 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. | $360,309 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,312,020 |
| Pension plan accruals and contributions | $84,465 |
| Other employee benefits | $302,398 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $12,120 |
| Fees for services: Accounting | $20,939 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $110,380 |
| Office expenses | $213,121 |
| Information technology | $174,589 |
| Royalties | $0 |
| Occupancy | $152,227 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $4,347 |
| Conferences, conventions, and meetings | $1 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $159,997 |
| Insurance | $35,541 |
| All other expenses | $0 |
| Total functional expenses | $3,730,070 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,036,230 |
| Savings and temporary cash investments | $24,716,161 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $201,768 |
| Loans from Officers, Directors, or Controlling Persons | $4,102,379 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $77,774,224 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $2,459,148 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $3,472,545 |
| Intangible assets | $0 |
| Other assets | $1,426,003 |
| Total assets | $115,188,458 |
| Accounts payable and accrued expenses | $289,804 |
| 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 | $99,484,356 |
| Total liabilities | $99,774,160 |
| 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 | $15,414,298 |
| Total liabilities and net assets/fund balances | $115,188,458 |
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