Holy Redeemer Community Credit Union
- Assets
- $587.1k
- Revenue
- $17.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Milwaukee, WI
- Founding
- Data as of
- 12/2022
- EIN
- 39-1762211
Organization Overview
Holy Redeemer Community Credit Union is located in Milwaukee, WI. Holy Redeemer Community 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 12/2022, Holy Redeemer Community Credit Union generated $17.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (3.4%) each year. All expenses for the organization totaled $11.0k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (9.8%) per year over the past 7 years. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE HOY REDEEMER COMMUNITY CREDIT UNION WAS ORGANIZED FOR THE PURPOSE OF ENCOURAGING THRIFT AMONG ITS MEMBERS FOR THE PURPOSE OF PROMOTING SAVINGS. CREATING A SOURCE OF CREDIT AT A FAIR AND REASONABLE RATE OF INTEREST. PROVIDING AN OPPORTUNITY FOR EACH OF TIS MEMBERS TO IMPROVE THEIR RESPECTIVE ECONOMIC AND SOCIAL CONDITIONS. CREATING A UNIQUE FINANCIAL INSTITUTION THAT IS DEMOCRATICALLY OWNED AND CONTROLLED NOT-FOR-PROFIT, BUT ORGANIZED BY A GROUP OF PEOPLE WHO SHARE A COMMON BOND. PROVIDING SERVICES TO LOW-MODERATE INCOME.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WE FUNDED 4 LOANS DURING 2022. AS OF 12/31/2022, WE HAD 10 CONSUMER LOANS
WE HAVE DEPOSIT, TRANSACTION, AND INVESTMENT ACCOUNTS WITH 272 MEMBERS AT 12/3/2022
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tiffany Batton Director | Trustee | 0 | $0 |
Sheryle Cunningham Director | Trustee | 0 | $0 |
Kasandra Purham-Andrew Director | Trustee | 5 | $0 |
Sedgwick Daniels President | Officer | 5 | $0 |
John Daniels III Vice-Chairman | Officer | 0 | $0 |
Calvin Scott Chairman | Officer | 0 | $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 | $10,289 |
| Investment income | $7,650 |
| 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 | $17,939 |
| 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. | $0 |
| 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 | $0 |
| 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 | $0 |
| Office expenses | $6,594 |
| Information technology | $1,618 |
| 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 | $0 |
| Interest | $0 |
| Payments to affiliates | $43 |
| Depreciation, depletion, and amortization | $104 |
| Insurance | $2,350 |
| All other expenses | $0 |
| Total functional expenses | $10,983 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,340 |
| Savings and temporary cash investments | $513,357 |
| 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 | $61,914 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $570 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $5,892 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $587,073 |
| Accounts payable and accrued expenses | $7,751 |
| Grants payable | $5,000 |
| 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 | $401,704 |
| Total liabilities | $414,455 |
| 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 | $172,618 |
| Total liabilities and net assets/fund balances | $587,073 |