Defense Credit Union Council Inc
- Assets
- $10.0m
- Revenue
- $3.3m
- Investments
- $177.3k
- Employees
- 5
- Location
- Washington, DC
- Founding
- 07/1982
- Data as of
- 12/2021
- EIN
- 39-1405036
Organization Overview
Defense Credit Union Council Inc is located in Washington, DC. The organization was established in 1982. 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, Defense Credit Union Council Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Defense Credit Union Council Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2021, Defense Credit Union Council Inc generated $3.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.5% each year. All expenses for the organization totaled $2.5m during the year ending 12/2021. While expenses have increased by 2.5% 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.
Since 2019, Defense Credit Union Council Inc has awarded 23 individual grants totaling $455,606. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO ASSIST MEMBER CREDIT UNIONS OPERATING ON DEPARTMENT OF DEFENSE (DOD) INSTALLATIONS, WHOSE FIELD OF MEMBERSHIP INCLUDES A SEGMENT OF MILITARY AND/OR CIVILIAN PERSONNEL OF THE U.S. DEFENSE ESTABLISHMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ASSIST MEMBER CREDIT UNIONS IN: THE UNIQUE PROBLEMS OF A MOBILE MEMBERSHIP, THE PROBLEMS CREATED BY MAJOR PERSONNEL CHANGES, INSTALLATION MISSION CHANGES, INSTALLATION BASE CLOSURES AND REALIGNMENTS BOTH STATESIDE AND OVERSEAS, INTERCOMMUNICATION DEVELOPMENT, FINANCIAL READINESS REQUIREMENTS, AND SUPPORTING AND ASSISTING MEMBER CREDIT UNIONS IN FULFILLING THEIR ROLE ON DOD INSTALLATIONS, I.E. ENHANCING THE MORALE AND WELFARE OF MILITARY PERSONNEL.
THE DEFENSE COUNCIL PROVIDES OTHER ACTIVITIES OR BENEFITS TO REPRESENTED CREDIT UNIONS WITH PARTICULAR EMPHASIS ON THE DEVELOPMENT AND COORDINATION OF UNIFORM DOD SUPPORT POLICIES, PROCEDURES, DIRECTIVES, INSTRUCTIONS, AND REGULATIONS AS THEY PERTAIN TO MEMBER CREDIT UNIONS' OPERATIONS, FACILITIES AND SERVICES ON DEPARTMENT OF DEFENSE INSTALLATIONS WORLDWIDE.
THE DEFENSE COUNCIL PROVIDES LIAISON WITH THE DEPARTMENT OF DEFENSE AND THE NATIONAL CREDIT UNION ADMINISTRATION ON PROBLEMS UNIQUE TO DEFENSE CREDIT UNIONS. THE DEFENSE COUNCIL ALSO PROVIDES LIAISON TO OTHER FEDERAL AGENCIES, SUCH AS FINANCIAL MANAGEMENT SERVICES, U.S. TREASURY AND OTHER NON-PROFIT ORGANIZATIONS SUCH AS THE MILITARY CHILD EDUCATION COALITION AND BETTER BUSINESS BUREAU MILITARY LINE. ADDITIONALLY, THE COUNCIL LIAISONS WITH THE CREDIT UNION NATIONAL ASSOCIATION, NATIONAL ASSOCIATION OF FEDERAL CREDIT UNIONS AND OTHER CREDIT UNION ORGANIZATIONS.
THE DEFENSE CREDIT UNION COUNCIL (DCUC) CONDUCTS AN ANNUAL EDUCATIONAL CONFERENCE, AN ANNUAL ROUNDTABLE FORUM AND AN ANNUAL OVERSEAS SUBCOUNCIL MEETING FOR ITS MEMBERSHIP. THE DCUC SPONSORS A PUBLICATION AND MEMBERSHIP INFORMATION EXCHANGE, AND IS A CHARTERED AND ACTIVE PARTNER OF THE DOD FINANCIAL READINESS AND MILITARY SAVES CAMPAIGNS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Anthony Hernandez Ceo/president | Officer | 40 | $399,890 |
Elizabeth Merlo Vice President | Officer | 40 | $137,039 |
Denise Floyd Secretary | OfficerTrustee | 1.5 | $0 |
Maggie Sayer 2nd Vice Chairman | OfficerTrustee | 1.5 | $0 |
Jack Fallis 1st Vice Chairman | OfficerTrustee | 1.5 | $0 |
Bill Birnie Chairman | 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 | $892,679 |
| Investment income | $130,751 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $102,416 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $483,885 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,266,018 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $223,292 |
| 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. | $584,586 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $186,526 |
| Pension plan accruals and contributions | $43,456 |
| Other employee benefits | $23,019 |
| Payroll taxes | $45,409 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,979 |
| Fees for services: Accounting | $62,007 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $38,877 |
| Fees for services: Other | $136,003 |
| Advertising and promotion | $153,589 |
| Office expenses | $18,358 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $105,337 |
| Travel | $114,449 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $449,239 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,416 |
| Insurance | $9,896 |
| All other expenses | $0 |
| Total functional expenses | $2,496,074 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $303,114 |
| Savings and temporary cash investments | $2,318,618 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $34,059 |
| Loans from Officers, Directors, or Controlling Persons | $537,656 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $264,592 |
| Net Land, buildings, and equipment | $8,283 |
| Investments—publicly traded securities | $6,299,550 |
| Investments—other securities | $177,340 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $19,766 |
| Total assets | $9,962,978 |
| Accounts payable and accrued expenses | $240,310 |
| Grants payable | $0 |
| Deferred revenue | $412,047 |
| 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 | $0 |
| Total liabilities | $652,357 |
| Net assets without donor restrictions | $9,310,621 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $9,962,978 |
Grants Awarded
Over the last fiscal year, Defense Credit Union Council Inc has awarded $165,366 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
Madison, WI PURPOSE: DONATION TO SUPPORT CENTER OF EXCELLENCE | $55,000 |
San Antonio, TX PURPOSE: LEADERSHIP DEVELOPMENT PROGRAM SPONSORSHIP | $35,000 |
Harker Heights, TX PURPOSE: EVENT T-SHIRTS | $20,000 |
Madison, WI PURPOSE: GENERAL PURPOSE | $17,500 |
Palmetto, FL PURPOSE: GENERAL PURPOSE | $11,195 |
Madison, WI PURPOSE: GENERAL PURPOSE | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Entrust Financial Credit Union Richmond, VA | $74,599,111 | $4,148,038 |
Destinations Credit Union Baltimore, MD | $69,990,367 | $3,241,703 |
National Association Of State Credit Union Supervisors Arlington, VA | $4,477,654 | $3,426,834 |
Defense Credit Union Council Inc Washington, DC | $9,962,978 | $3,266,018 |
Virginia Credit Union League Inc Lynchburg, VA | $12,141,784 | $1,868,332 |
Central Credit Union Of Maryland Baltimore, MD | $46,859,689 | $1,364,889 |
Post Office Credit Union Of Maryland Baltimore, MD | $33,224,793 | $632,384 |
Apple Federal Credit Union Foundation Foundation Springfield, VA | $0 | $9,438 |
American Association Of Credit Union Leagues Washington, DC | $1,915,760 | $733,220 |
The Credit Union Foundation Of Md And Dc Inc Columbia, MD | $3,427,234 | $174,493 |
Association Of Credit Union Internal Auditors Alexandria, VA | $666,471 | $519,176 |
Southeastern Regional Credit Union Schools Inc Lynchburg, VA | $385,867 | $188,446 |