Missouri Central Credit Union
- Assets
- $76.9m
- Revenue
- $2.5m
- Investments
- $2.2m
- Employees
- 15
- Location
- Lees Summit, MO
- Founding
- Data as of
- 12/2021
- EIN
- 44-0357634
Organization Overview
Missouri Central Credit Union is located in Lees Summit, MO. As of 12/2021, Missouri Central Credit Union employed 15 individuals. Missouri Central 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, Missouri Central Credit Union generated $2.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.3% each year. All expenses for the organization totaled $2.4m during the year ending 12/2021. While expenses have increased by 4.2% 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
WE STRIVE TO BE THE ONE, THRIVING FINANCIAL INSTITUTION THAT ALWAYS WELCOMES THE OPPORTUNITY TO MEET YOUR NEEDS. TOGETHER WE THRIVE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDES FINANCIAL AND FINANCIALLY RELATED SERVICES TO 7,511 MEMBERS.
PROVIDES A SOURCE OF CREDIT TO MEMBERS AT A FAIR AND REASONABLE RATE OF INTEREST. AS OF DECEMBER 31, 2021, THERE WERE 2,597 LOANS OUTSTANDING TOTALING $39,465,957.
PAID DIVIDENDS ON MEMBER DEPOSITS TOTALING $112,680 FOR THE YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tom Loftus Vice President & COO | Officer | 40 | $110,528 |
Glenna Jarvis President (through 6/30/2021) | Officer | 40 | $101,878 |
William Trenchard Vice President & CFO | Officer | 40 | $101,566 |
Josh Wooley President (current) | Officer | 40 | $33,766 |
Julia Hampton Secretary/treasurer | Trustee | 1 | $0 |
Jane Monroe Board Member | 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 | $2,306,955 |
| Investment income | $200,750 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $12,239 |
| 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 | $2,519,944 |
| 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. | $393,622 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $418,755 |
| Pension plan accruals and contributions | $35,630 |
| Other employee benefits | $96,191 |
| Payroll taxes | $59,200 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $32,580 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $158,224 |
| Advertising and promotion | $81,972 |
| Office expenses | $380,996 |
| Information technology | $203,755 |
| Royalties | $0 |
| Occupancy | $79,319 |
| Travel | $150 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,673 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $78,459 |
| Insurance | $39,690 |
| All other expenses | $28,898 |
| Total functional expenses | $2,393,286 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $460,565 |
| Savings and temporary cash investments | $31,203,728 |
| 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 | $39,308,198 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $248,915 |
| Net Land, buildings, and equipment | $1,003,602 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $2,188,547 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,506,532 |
| Total assets | $76,920,087 |
| Accounts payable and accrued expenses | $514,271 |
| 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 | $69,559,819 |
| Total liabilities | $70,074,090 |
| 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 | $6,845,997 |
| Total liabilities and net assets/fund balances | $76,920,087 |
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