Ascentra Credit Union
- Assets
- $534.0m
- Revenue
- $27.2m
- Investments
- $0.0
- Employees
- 197
- Location
- Bettendorf, IA
- Founding
- Data as of
- 12/2021
- EIN
- 42-0747751
Organization Overview
Ascentra Credit Union is located in Bettendorf, IA. As of 12/2021, Ascentra Credit Union employed 197 individuals. Ascentra 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, Ascentra Credit Union generated $27.2m 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 $25.0m during the year ending 12/2021. While expenses have increased by 3.6% 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
STATE CHARTERED CREDIT UNION
Describe the Organization's Program Activity:
Part 3 - Line 4a
N/A
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Becky Hansen Chief Risk O | 40 | $465,497 | |
Brad Knutson Chief Tech O | Officer | 55 | $285,319 |
Linda Andry President/ce | Officer | 60 | $243,811 |
Jay England Chief Financ | 45 | $200,997 | |
Shelly Ridgeway Chief Operat | 45 | $194,793 | |
Jennifer Naeve Chief Market | 45 | $144,679 |
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 | $25,237,036 |
| Investment income | $1,945,417 |
| 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 | $27,182,453 |
| 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. | $690,468 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $8,174,385 |
| Pension plan accruals and contributions | $421,799 |
| Other employee benefits | $756,965 |
| Payroll taxes | $645,109 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $31,431 |
| Fees for services: Accounting | $55,856 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $791,390 |
| Office expenses | $879,346 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,673,364 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $98,942 |
| Interest | $222,356 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,553,697 |
| Insurance | $139,987 |
| All other expenses | $1,331,462 |
| Total functional expenses | $25,040,457 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,862,489 |
| Savings and temporary cash investments | $155,208,010 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $24,454 |
| Loans from Officers, Directors, or Controlling Persons | $2,177,223 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $306,170,899 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,102,466 |
| Net Land, buildings, and equipment | $25,001,363 |
| Investments—publicly traded securities | $19,011,235 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $20,491,672 |
| Total assets | $534,049,811 |
| Accounts payable and accrued expenses | $13,456,279 |
| 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 | $10,000,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $461,404,488 |
| Total liabilities | $484,860,767 |
| 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 | $13,305,012 |
| Retained earnings, endowment, accumulated income, or other funds | $35,884,032 |
| Total liabilities and net assets/fund balances | $534,049,811 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Ascentra Credit Union has recieved totaling $16,000.
| Awarding Organization | Amount |
|---|---|
Cooperative Housing Foundation Silver Spring, MD PURPOSE: TECHNICAL ASSISTANCE | $16,000 |
View Grant Recipient Profile
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
American Dental Association Chicago, IL | $257,052,700 | $138,597,450 |
Seiu Local 1 & Participating Employers Health Trust Chicago, IL | $156,543,336 | $132,715,763 |
St Marys Hospital Ozaukee Inc St Louis, MO | $0 | $119,639,290 |
American College Of Surgeons Chicago, IL | $595,958,812 | $134,561,979 |
Ascension Medical Group Promed St Louis, MO | $11,680,037 | $91,054,014 |
Campbellsville University Inc Campbellsville, KY | $197,242,279 | $142,326,474 |
Aspirus Medical Group Inc Wausau, WI | $76,960,726 | $101,291,684 |
Longmont United Hospital Longmont, CO | $214,203,834 | $134,718,375 |
Harding University Searcy, AR | $405,616,863 | $135,462,423 |
Wellmont Medical Associates Inc Johnson City, TN | $20,115,154 | $123,355,433 |
Leconte Medical Center Knoxville, TN | $91,240,969 | $144,185,798 |
Rosalind Franklin University Of Medicine & Science North Chicago, IL | $321,942,163 | $130,066,998 |