Missouri Central Credit Union
- Assets
- $76.8m
- Revenue
- $4.5m
- Investments
- $1.8m
- Employees
- 22
- Location
- Lees Summit, MO
- Founding
- Data as of
- 12/2023
- EIN
- 44-0357634
Organization Overview
Missouri Central Credit Union is located in Lees Summit, MO. As of 12/2023, Missouri Central Credit Union employed 22 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 12/2023, Missouri Central Credit Union generated $4.5m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 10.1% each year . All expenses for the organization totaled $3.9m during the year ending 12/2023. While expenses have increased by 8.9% per year over the past 9 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
2023
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 8,146 MEMBERS.
PROVIDES A SOURCE OF CREDIT TO MEMBERS AT A FAIR AND REASONABLE RATE OF INTEREST. AS OF DECEMBER 31, 2023, LOANS OUTSTANDING TOTALED $66,738,567 (INCLUDING PARTICIPATIONS).
PAID DIVIDENDS ON MEMBER DEPOSITS TOTALING $389,240 FOR THE YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dominique Bennet Chairperson | Trustee | 1 | $0 |
Jane Monroe Vice Chairperson | Trustee | 1 | $0 |
Joanne Thies Treasurer | Trustee | 1 | $0 |
Sam Voyles Board Member | Trustee | 1 | $0 |
Brian Austerman Board Member | Trustee | 1 | $0 |
Tom Lovell 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 | $4,249,412 |
| Investment income | $228,332 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $12,408 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$22,672 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,467,480 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $5,000 |
| 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. | $497,668 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $592,548 |
| Pension plan accruals and contributions | $34,534 |
| Other employee benefits | $112,060 |
| Payroll taxes | $78,059 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $9,484 |
| Fees for services: Accounting | $35,034 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $202,949 |
| Advertising and promotion | $64,890 |
| Office expenses | $417,025 |
| Information technology | $280,405 |
| Royalties | $0 |
| Occupancy | $90,399 |
| Travel | $2,508 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $24,987 |
| Interest | $6,659 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $104,677 |
| Insurance | $46,646 |
| All other expenses | $66,366 |
| Total functional expenses | $3,863,331 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $626,054 |
| Savings and temporary cash investments | $4,630,517 |
| 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 | $65,959,877 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $471,163 |
| Net Land, buildings, and equipment | $1,271,142 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,839,375 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,034,982 |
| Total assets | $76,833,110 |
| Accounts payable and accrued expenses | $634,524 |
| 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 | $68,332,505 |
| Total liabilities | $68,967,029 |
| 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 | $7,866,081 |
| Total liabilities and net assets/fund balances | $76,833,110 |