Quaker Oats Credit Union
- Assets
- $13.3m
- Revenue
- $494.9k
- Investments
- $0.0
- Employees
- 4
- Location
- Cedar Rapids, IA
- Founding
- Data as of
- 12/2021
- EIN
- 42-0816863
Organization Overview
Quaker Oats Credit Union is located in Cedar Rapids, IA. As of 12/2021, Quaker Oats Credit Union employed 4 individuals. Quaker Oats 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, Quaker Oats Credit Union generated $494.9k in total revenue. The organization has seen a slow decline revenue. Over the past 5 years, revenues have fallen by an average of (2.0%) each year. All expenses for the organization totaled $486.4k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (0.5%) per year over the past 5 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO BE A SAFE AND SOUND CREDIT UNION. LENDING AND SAVINGS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION SERVES APPROXIMATELY 1,815 MEMBERS FOR LOANS AND SAVINGS IN 2021. THE ORGANIZATIONS LARGEST EXPENSE IS DIVIDEND EXPENSE PAID ON SHARE ACCOUNTS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Heather Lemke CEO | Officer | 50 | $47,420 |
Joann Elliott President | OfficerTrustee | 1 | $0 |
Ken Owens Chairman | OfficerTrustee | 1 | $0 |
Brad Dvorak Secretary | OfficerTrustee | 1 | $0 |
Joe Conner Vice Chairman | OfficerTrustee | 1 | $0 |
Dick Hanson Credit Committee | Trustee | 1 | $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 | $366,472 |
| Investment income | $18,490 |
| 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 | $494,944 |
| 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. | $58,140 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $104,780 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $5,116 |
| Payroll taxes | $11,311 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $356 |
| Fees for services: Accounting | $11,991 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $17,045 |
| Office expenses | $67,368 |
| Information technology | $22,745 |
| Royalties | $0 |
| Occupancy | $23,264 |
| Travel | $753 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,850 |
| Interest | $23,936 |
| Payments to affiliates | $2,407 |
| Depreciation, depletion, and amortization | $16,845 |
| Insurance | $615 |
| All other expenses | $10,989 |
| Total functional expenses | $486,394 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,416,495 |
| Savings and temporary cash investments | $1,042,928 |
| 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 | $6,359,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $25,231 |
| Net Land, buildings, and equipment | $81,983 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $2,265,205 |
| Intangible assets | $0 |
| Other assets | $104,758 |
| Total assets | $13,295,600 |
| Accounts payable and accrued expenses | $47,602 |
| 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 | $11,590,341 |
| Total liabilities | $11,637,943 |
| 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 | $442,001 |
| Retained earnings, endowment, accumulated income, or other funds | $1,215,656 |
| Total liabilities and net assets/fund balances | $13,295,600 |
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