Foundation Credit Union
- Assets
- $74.5m
- Revenue
- $2.3m
- Investments
- $3.0m
- Employees
- 14
- Location
- Springfield, MO
- Founding
- Data as of
- 12/2021
- EIN
- 44-0444355
Organization Overview
Foundation Credit Union is located in Springfield, MO. As of 12/2021, Foundation Credit Union employed 14 individuals. Foundation 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, Foundation Credit Union generated $2.3m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 9.9% each year. All expenses for the organization totaled $1.9m during the year ending 12/2021. While expenses have increased by 11.1% per year over the past 6 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
TO PROVIDE HIGH QUALITY FINANCIAL SERVICES FOR OUR MEMBERS/OWNERS, ENHANCING THEIR FINANCIAL WELL-BEING WHILE MAINTAINING THE FINANCIAL STRENGTH OF THE CREDIT UNION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDES FINANCIAL AND FINANCIALLY RELATED SERVICES TO 2,987 MEMBERS.
PROVIDES A SOURCE OF CREDIT TO MEMBERS AT A FAIR AND REASONABLE RATE OF INTEREST. AS OF DECEMBER 31, 2021, THERE WERE 1,613 MEMBER LOANS OUTSTANDING TOTALING $46,487,855.
PAID DIVIDENDS AND INTEREST ON MEMBER DEPOSITS TOTALING $334,119 FOR THE YEAR.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephanie Thomas Ceo/president | Officer | 40 | $113,263 |
Matthew Hudson Board Member | Trustee | 1 | $0 |
Debbie Hickey Vice Chairman | Trustee | 1 | $0 |
Brent Forbes Chairman | Trustee | 1 | $0 |
Forest Owens Secretary/treasurer | Trustee | 1 | $0 |
Jerome Ransom Vice Chairman | 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 | $2,200 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,200 |
| Total Program Service Revenue | $2,090,914 |
| Investment income | $194,022 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$6,378 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,280,758 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,000 |
| 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. | $124,616 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $484,777 |
| Pension plan accruals and contributions | $10,201 |
| Other employee benefits | $72,031 |
| Payroll taxes | $47,814 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,513 |
| Fees for services: Accounting | $29,279 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $19,157 |
| Office expenses | $139,758 |
| Information technology | $134,568 |
| Royalties | $0 |
| Occupancy | $91,075 |
| Travel | $1,008 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,226 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $95,411 |
| Insurance | $56,288 |
| All other expenses | $26,895 |
| Total functional expenses | $1,896,834 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,238,739 |
| Savings and temporary cash investments | $13,534,960 |
| 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 | $51,326,619 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $291,968 |
| Net Land, buildings, and equipment | $2,350,350 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $3,020,000 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $699,849 |
| Total assets | $74,462,485 |
| Accounts payable and accrued expenses | $812,742 |
| Grants payable | $0 |
| Deferred revenue | $25,960 |
| 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 | $63,901,955 |
| Total liabilities | $64,740,657 |
| 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 | $9,721,828 |
| Total liabilities and net assets/fund balances | $74,462,485 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Chinese American Service League Inc Chicago, IL | $15,835,299 | $20,315,146 |
Sholom Home East Inc St Paul, MN | $55,805,227 | $20,264,604 |
Leavenworth-Jefferson Electric Cooperative Inc Topeka, KS | $0 | $20,178,550 |
Bobbie Bailey Foundation Inc Tucker, GA | $24,485,053 | $1,564,197 |
Association Of Former Students Of Texas A & M University College Station, TX | $202,537,498 | $46,927,604 |
Camber Foundation Durham, NC | $143,536,160 | $30,406,277 |
Dow Rummel Village Sioux Falls, SD | $76,421,386 | $18,523,416 |
Nebraska Student Loan Program Inc Lincoln, NE | $230,624,169 | $45,453,979 |
Senior Total Life Care Gastonia, NC | $7,534,285 | $22,491,131 |
Rush Care Inc Meridian, MS | $36,015,536 | $16,929,322 |
Parking Facilities Corporation New Orleans, LA | $111,215,099 | $14,747,604 |
Duke Integrated Network Inc Durham, NC | $2,381,377 | $12,476,427 |