Prospera Credit Union
- Assets
- $346.1m
- Revenue
- $15.4m
- Investments
- $5.6m
- Employees
- 109
- Location
- Appleton, WI
- Founding
- Data as of
- 12/2021
- EIN
- 39-0744917
Organization Overview
Prospera Credit Union is located in Appleton, WI. As of 12/2021, Prospera Credit Union employed 109 individuals. Prospera 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, Prospera Credit Union generated $15.4m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 10.0% each year . All expenses for the organization totaled $12.8m during the year ending 12/2021. While expenses have increased by 10.2% 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 MEMBER-OWNED, NOT-FOR-PROFIT, COOPERATIVE FINANCIAL INSTITUTION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION OPERATES AS A FINANCIAL COOPERATIVE SERVING AND OWNED BY ITS MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sheila M Schinke CEO | Officer | 40 | $303,040 |
Michelle Mcclelland CFO | Officer | 40 | $179,292 |
Jeff Garrett VP Investment Services | 40 | $168,878 | |
Barb Berken COO | Officer | 40 | $157,161 |
Kari Christoph Chro | 40 | $146,926 | |
John Schemm Clo | 40 | $145,129 |
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 | $14,686,679 |
| Investment income | $660,855 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $13,717 |
| Net Gain/Loss on Asset Sales | $4,120 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $15,365,371 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $25,000 |
| 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. | $1,349,898 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,746,439 |
| Pension plan accruals and contributions | $261,435 |
| Other employee benefits | $809,080 |
| Payroll taxes | $355,027 |
| Fees for services: Management | $226,231 |
| Fees for services: Legal | $61,120 |
| Fees for services: Accounting | $66,472 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $652,451 |
| Office expenses | $599,490 |
| Information technology | $318,562 |
| Royalties | $0 |
| Occupancy | $423,950 |
| Travel | $6,959 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $630 |
| Interest | $46 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $393,362 |
| Insurance | $46,267 |
| All other expenses | $134,800 |
| Total functional expenses | $12,809,023 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,576,127 |
| Savings and temporary cash investments | $26,634,963 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $775,388 |
| Loans from Officers, Directors, or Controlling Persons | $385,361 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $281,404,513 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $233,614 |
| Net Land, buildings, and equipment | $8,985,585 |
| Investments—publicly traded securities | $13,178,394 |
| Investments—other securities | $5,646,384 |
| Investments—program-related | $1,145,113 |
| Intangible assets | $48,579 |
| Other assets | $5,103,341 |
| Total assets | $346,117,362 |
| Accounts payable and accrued expenses | $2,431,106 |
| 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 | $313,681,700 |
| Total liabilities | $316,112,806 |
| 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 | $6,522,282 |
| Retained earnings, endowment, accumulated income, or other funds | $23,482,274 |
| Total liabilities and net assets/fund balances | $346,117,362 |
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