Shoreline Credit Union
- Assets
- $123.0m
- Revenue
- $4.9m
- Investments
- $0.0
- Employees
- 47
- Location
- Manitowoc, WI
- Founding
- Data as of
- 12/2021
- EIN
- 39-0795376
Organization Overview
Shoreline Credit Union is located in Manitowoc, WI. As of 12/2021, Shoreline Credit Union employed 47 individuals. Shoreline 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, Shoreline Credit Union generated $4.9m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.8% each year. All expenses for the organization totaled $4.3m during the year ending 12/2021. While expenses have increased by 1.7% 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
STATE CHARTERED CREDIT UNION - PLEASE SEE SCHEDULE O STATEMENT 10 FOR DETAILED MISSION STATEMENT/EXEMPT PURPOSE
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 |
|---|---|---|---|
Nathan Grossenbach CEO | Officer | 45 | $153,803 |
Andrea Schmidt Re & Mbl Manager | 45 | $103,224 | |
Steven Haensgen Cfo/evp | Officer | 45 | $83,652 |
Julie Vogel Secretary | OfficerTrustee | 1 | $0 |
Colleen Inman Vice Chair | OfficerTrustee | 1 | $0 |
Chad Schwoerer 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 | $4,334,649 |
| Investment income | $479,155 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $121,475 |
| Net Gain/Loss on Asset Sales | -$2,496 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,937,848 |
| 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. | $340,679 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,456,972 |
| Pension plan accruals and contributions | $68,010 |
| Other employee benefits | $163,931 |
| Payroll taxes | $131,079 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $14,700 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $83,252 |
| Advertising and promotion | $118,313 |
| Office expenses | $132,495 |
| Information technology | $294,244 |
| Royalties | $0 |
| Occupancy | $133,271 |
| Travel | $33,938 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $545 |
| Interest | $173 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $268,457 |
| Insurance | $45,036 |
| All other expenses | -$84,509 |
| Total functional expenses | $4,326,202 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,052,742 |
| Savings and temporary cash investments | $14,555,855 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $125,104 |
| Loans from Officers, Directors, or Controlling Persons | $524,645 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $78,227,520 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $201,559 |
| Net Land, buildings, and equipment | $4,239,159 |
| Investments—publicly traded securities | $18,994,096 |
| Investments—other securities | $0 |
| Investments—program-related | $2,120,728 |
| Intangible assets | $0 |
| Other assets | $2,998,892 |
| Total assets | $123,040,300 |
| Accounts payable and accrued expenses | $873,152 |
| 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 | $5,000,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $107,495,671 |
| Total liabilities | $113,368,823 |
| 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 | $9,059,831 |
| Retained earnings, endowment, accumulated income, or other funds | $611,646 |
| Total liabilities and net assets/fund balances | $123,040,300 |
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