Mower County Catholic Parishes Credit Union
- Assets
- $7.0m
- Revenue
- $258.6k
- Investments
- $0.0
- Employees
- 7
- Location
- Austin, MN
- Founding
- 09/1944
- Data as of
- 12/2021
- EIN
- 41-0517125
Organization Overview
Mower County Catholic Parishes Credit Union is located in Austin, MN. The organization was established in 1944. 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, Mower County Catholic Parishes Credit Union employed 7 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Mower County Catholic Parishes 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, Mower County Catholic Parishes Credit Union generated $258.6k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.4% each year. All expenses for the organization totaled $188.0k during the year ending 12/2021. While expenses have increased by 4.1% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO HELP MEMBERS AND THEIR FAMILIES ACHIEVE FINANCIAL FREEDOM, BY PROVIDING PERSONALIZED FINANCIAL SERVICES AND EDUCATION. OUR MOST SIGNIFICANT ACTIVITIES INCLUDE DEPOSITS AND LOANS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AS OF 12/31/2021 WE HAVE PROVIDED 432 LOANS TOTALING $3,906,168.95.
AS OF 12/31/2020 WE HELD $6,047,464.74 IN SHARE ACCOUNTS AND CERTIFICATES OF DEPOSIT TO OUR MEMBERS.
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jessica Johnson President/treasurer | Officer | 40 | $48,340 |
Kelsey Ritchie Supervisory Committee Member | Trustee | 0 | $0 |
Stephen Holtorf Board Cahir | Trustee | 0 | $0 |
Mary Liz Holtorf Supervisory Committee Member | Trustee | 0 | $0 |
Diann Rauen Secretary | Trustee | 0 | $0 |
Katie Bergstrom Credit Manager | Trustee | 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 | $238,598 |
| Investment income | $19,992 |
| 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 | $258,590 |
| 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 | $19,348 |
| Compensation of current officers, directors, key employees. | $50,227 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $35,284 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $6,706 |
| 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 | $3,158 |
| Advertising and promotion | $6,200 |
| Office expenses | $24,463 |
| Information technology | $13,964 |
| Royalties | $0 |
| Occupancy | $11,153 |
| Travel | $534 |
| 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 | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $187,970 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,000 |
| Savings and temporary cash investments | $3,014,476 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,883,638 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $4,055 |
| Net Land, buildings, and equipment | $35,246 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $56,078 |
| Total assets | $7,003,493 |
| Accounts payable and accrued expenses | $10,945 |
| 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 | $5,958,784 |
| Total liabilities | $5,969,729 |
| 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 | $1,033,764 |
| Total liabilities and net assets/fund balances | $7,003,493 |
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|---|---|---|
Magnifi Financial Credit Union Melrose, MN | $1,639,292,297 | $78,975,601 |
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First Community Credit Union Jamestown, ND | $1,060,866,226 | $50,434,728 |
Ideal Credit Union Woodbury, MN | $932,167,158 | $42,764,424 |
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Dutrac Community Credit Union Dubuque, IA | $980,523,751 | $36,287,980 |
Capital Credit Union Bismarck, ND | $692,597,459 | $34,065,557 |
Town & Country Credit Union Minot, ND | $639,797,460 | $30,613,353 |
Linn Area Credit Union Cedar Rapids, IA | $567,752,241 | $26,390,018 |
Southpoint Financial Credit Union Sleepy Eye, MN | $509,297,128 | $21,366,397 |
Heritage Credit Union Deforest, WI | $461,320,772 | $20,193,229 |
North Star Community Credit Union Maddock, ND | $392,799,949 | $17,250,607 |