North Iowa Community Credit Union
- Assets
- $84.5m
- Revenue
- $4.4m
- Investments
- $16.0k
- Employees
- 28
- Location
- Mason City, IA
- Founding
- Data as of
- 12/2021
- EIN
- 42-0806064
Organization Overview
North Iowa Community Credit Union is located in Mason City, IA. As of 12/2021, North Iowa Community Credit Union employed 28 individuals. North Iowa 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 12/2021, North Iowa Community Credit Union generated $4.4m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 5.7% each year. All expenses for the organization totaled $3.9m during the year ending 12/2021. While expenses have increased by 4.0% 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
TO PROVIDE FINANCIAL SERVICES TO OUR MEMBERS SUCH AS CHECKING, SAVINGS, AND BOTH PERSONAL AND REAL ESTATE LOANS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PROVIDES DEPOSIT SERVICES, LOANS, AND COMMUNITY SUPPORT.THE NUMBER OF MEMBERS SERVED WAS APPROXIMATELY 11,300 DURING THE 2021 TAX YEAR.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Scott J Shipman President | Officer | 40 | $168,287 |
Susan Hendershot COO | Officer | 40 | $111,508 |
Herman Meyer Chairman | OfficerTrustee | 0.75 | $0 |
Mark Brosz Vice Chair | OfficerTrustee | 0.75 | $0 |
Vicki Ginder Board Member | Trustee | 0.75 | $0 |
Mae Miles Board Member | Trustee | 0.75 | $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 | $3,759,697 |
| Investment income | $21,419 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $100,620 |
| Net Gain/Loss on Asset Sales | $39,221 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,419,625 |
| 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. | $304,432 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,016,167 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $440,881 |
| Payroll taxes | $107,750 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $12,670 |
| Fees for services: Accounting | $26,400 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $95,977 |
| Office expenses | $359,188 |
| Information technology | $121,532 |
| Royalties | $0 |
| Occupancy | $125,498 |
| Travel | $11,548 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $31,429 |
| Interest | $180,815 |
| Payments to affiliates | $7,811 |
| Depreciation, depletion, and amortization | $230,852 |
| Insurance | $49,370 |
| All other expenses | $52,196 |
| Total functional expenses | $3,896,666 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,422,509 |
| Savings and temporary cash investments | $4,453,627 |
| 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 | $69,597,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $555,663 |
| Net Land, buildings, and equipment | $2,239,129 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $16,000 |
| Investments—program-related | $325,470 |
| Intangible assets | $0 |
| Other assets | $927,043 |
| Total assets | $84,536,441 |
| Accounts payable and accrued expenses | $1,450,522 |
| 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 | $75,456,031 |
| Total liabilities | $76,906,553 |
| 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 | $4,350,000 |
| Retained earnings, endowment, accumulated income, or other funds | $3,279,888 |
| Total liabilities and net assets/fund balances | $84,536,441 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Chinese American Service League Inc Chicago, IL | $15,835,299 | $20,315,146 |
Sholom Home East Inc St Paul, MN | $55,805,227 | $20,264,604 |
Leavenworth-Jefferson Electric Cooperative Inc Topeka, KS | $0 | $20,178,550 |
Dow Rummel Village Sioux Falls, SD | $76,421,386 | $18,523,416 |
Nebraska Student Loan Program Inc Lincoln, NE | $230,624,169 | $45,453,979 |
Botsford Continuing Care Corporation Southfield, MI | $28,554,348 | $16,692,642 |
American Association Of Orthopaedic Surgeons Of America Rosemont, IL | $21,165,468 | $24,653,127 |
Blackburn University Carlinville, IL | $69,417,787 | $20,572,819 |
Montgomery Place Chicago, IL | $31,885,880 | $16,111,662 |
Region 3b Area Agency On Aging Battle Creek, MI | $12,282,051 | $21,229,876 |
Southwest Counseling Solutions Inc Detroit, MI | $10,435,524 | $23,926,279 |
Adec Inc Bristol, IN | $35,707,130 | $22,045,756 |