Central Communications Credit Union
- Assets
- $56.9m
- Revenue
- $1.9m
- Investments
- $1.9m
- Employees
- 18
- Location
- Independence, MO
- Founding
- Data as of
- 12/2021
- EIN
- 44-0195325
Organization Overview
Central Communications Credit Union is located in Independence, MO. As of 12/2021, Central Communications Credit Union employed 18 individuals. Central Communications 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, Central Communications Credit Union generated $1.9m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.7%) each year. All expenses for the organization totaled $2.0m during the year ending 12/2021. 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
THE MISSION OF CENTRAL COMMUNICATIONS CREDIT UNION IS TO HELP MEMBERS GAIN PERSONAL FINANCIAL SUCCESS THROUGH THE USE OF A VARIETY OF FINANCIAL SERVICES, WHICH FEATURE BENEFITS AND ADVANTAGES BEYOND THOSE GENERALLY AVAILABLE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDES FINANCIAL AND FINANCIALLY RELATED SERVICES TO 4,805 MEMBERS.
PROVIDES A SOURCE OF CREDIT TO MEMBERS AT A FAIR AND REASONABLE RATE OF INTEREST. AS OF DECEMBER 31, 2021, THERE WERE 1,380 LOANS OUTSTANDING TOTALING $14,899,596.
PAID DIVIDENDS ON MEMBER DEPOSITS TOTALING $95,518 FOR THE YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Philip Weber President | Officer | 40 | $80,151 |
Loyd Arnold Chairman | Trustee | 1 | $0 |
Dorothy Drone Director | Trustee | 1 | $0 |
Jeffrey Hayes Vice Chairman | Trustee | 1 | $0 |
Dennis Martin Secretary/treasurer | Trustee | 1 | $0 |
Shurman Ray Collins Director | 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 | $1,223,962 |
| Investment income | $524,714 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $13,353 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $179,409 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,941,438 |
| 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. | $121,411 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $552,358 |
| Pension plan accruals and contributions | $39,311 |
| Other employee benefits | $79,858 |
| Payroll taxes | $43,670 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,675 |
| Fees for services: Accounting | $54,685 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $5,998 |
| Fees for services: Other | $316,115 |
| Advertising and promotion | $54,976 |
| Office expenses | $129,690 |
| Information technology | $119,720 |
| Royalties | $0 |
| Occupancy | $207,490 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,188 |
| Interest | $14,097 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $53,180 |
| Insurance | $26,832 |
| All other expenses | $4,635 |
| Total functional expenses | $2,002,418 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $809,415 |
| Savings and temporary cash investments | $3,827,642 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $67,442 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $14,847,157 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $46,433 |
| Net Land, buildings, and equipment | $1,436,995 |
| Investments—publicly traded securities | $31,956,718 |
| Investments—other securities | $1,865,427 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,997,766 |
| Total assets | $56,854,995 |
| Accounts payable and accrued expenses | $306,053 |
| 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 | $200,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $52,900,253 |
| Total liabilities | $53,406,306 |
| 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 | $3,448,689 |
| Total liabilities and net assets/fund balances | $56,854,995 |
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