Burns & Mcdonnell Credit Union
- Assets
- $0.0
- Revenue
- $267.3k
- Investments
- $0.0
- Employees
- 6
- Location
- Kansas City, MO
- Founding
- Data as of
- 06/2021
- EIN
- 43-1135633
Organization Overview
Burns & Mcdonnell Credit Union is located in Kansas City, MO. As of 12/2020, Burns & Mcdonnell Credit Union employed 6 individuals. Burns & Mcdonnell 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 06/2021, Burns & Mcdonnell Credit Union generated $267.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (14.5%) each year. All expenses for the organization totaled $778.1k during the year ending 06/2021. 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
BURNS & MCDONNELL CREDIT UNION STRIVES TO BE THE ONE-STOP FINANCIAL INSTITUTION FOR ELIGIBLE MEMBERS. OUR GOAL IS TO PROVIDE SERVICES AND FEATURES NEEDED FOR FINANCIAL SECURITY AND TO PROMOTE THRIFT AND SAVINGS THROUGHOUT THE MEMBERSHIP FIELD. AS A MEMBER-OWNED COOPERATIVE FINANCIAL INSTITUTION, IT IS IMPORTANT THAT WE MAINTAIN THE HIGHEST DEGREE OF MEMBER SERVICE, ACCURATELY AND EFFICIENTLY OPERATING A SAFE AND SOUND FINANCIAL ALTERNATIVE TO ELIBIBLE MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDES FINANCIAL AND FINANCIALLY RELATED SERVICES TO 1,968 MEMBERS.
PROVIDES A SOURCE OF CREDIT TO MEMBERS AT A FAIR AND REASONABLE RATE OF INTEREST. AS OF DECEMBER 31, 2020, THERE WERE 800 MEMBER LOANS OUTSTANDING TOTALING $12,047,340.
PAID DIVIDENDS ON MEMBER DEPOSITS TOTALING $44,677 FOR THE YEAR.
PROVIDES FINANCIAL AND FINANCIALLY RELATED SERVICES TO 1,945 MEMBERS.
PROVIDES A SOURCE OF CREDIT TO MEMBERS AT A FAIR AND REASONABLE RATE OF INTEREST. AS OF JUNE 30, 2021, THERE WERE 723 LOANS OUTSTANDING TOTALING $10,473,226.
PAID DIVIDENDS ON MEMBER DEPOSITS TOTALING $375,305 DURING THE PERIOD, INCLUDING BONUS DIVIDENDS OF $356,253.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eric Jones President | Officer | 40 | $68,515 |
Consuelo Brown Operations Manager | Officer | 40 | $41,346 |
Hassan Sahudin Chairman | Trustee | 4 | $0 |
Michelle Word Vice Chairman | Trustee | 4 | $0 |
Melissa Cooper Secretary | Trustee | 4 | $0 |
Michele Fry Treasurer | Trustee | 4 | $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 | $247,153 |
| Investment income | $20,169 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$475 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $267,322 |
| 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. | $43,181 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $109,328 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $13,985 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $30,137 |
| Fees for services: Accounting | $4,320 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $126,276 |
| Advertising and promotion | $938 |
| Office expenses | $33,263 |
| Information technology | $25,636 |
| 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 | $754 |
| Interest | $7 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,523 |
| Insurance | $2,509 |
| All other expenses | $1,845 |
| Total functional expenses | $778,139 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $0 |
| Accounts payable and accrued expenses | $114,466 |
| 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 | $0 |
| Total liabilities | $0 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $0 |
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