Raytown-Lee's Summit Community Credit Union
- Assets
- $69.9m
- Revenue
- $2.8m
- Investments
- $24.2k
- Employees
- 30
- Location
- Raytown, MO
- Founding
- Data as of
- 12/2022
- EIN
- 44-0644887
Organization Overview
Raytown-Lee's Summit Community Credit Union is located in Raytown, MO. As of 12/2022, Raytown-Lee's Summit Community Credit Union employed 30 individuals. Raytown-Lee's Summit Community 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 12/2022, Raytown-Lee's Summit Community Credit Union generated $2.8m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.6% each year. All expenses for the organization totaled $2.8m during the year ending 12/2022. While expenses have increased by 0.7% per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE PREMIER CREDIT UNION, THROUGH LEADERSHIP, QUALITY AND SERVICE TO THE COMMUNITY. PEOPLE HELPING PEOPLE, BUILDING ON MOMENTUM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDES FINANCIAL AND FINANCIALLY RELATED SERVICES TO 8,372 MEMBERS.
PROVIDES A SOURCE OF CREDIT TO MEMBERS AT A FAIR AND REASONABLE RATE OF INTEREST. AS OF DECEMBER 31, 2022, LOANS OUTSTANDING TOTALED $46,895,220, INCLUDING PARTICIPATION LOANS.
PAID DIVIDENDS ON MEMBER DEPOSITS TOTALING $47,623 FOR THE YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carrie West President | Officer | 50 | $103,794 |
Randall Dowell Vice Chairman | Trustee | 1 | $0 |
Mark Wasko Chairman | Trustee | 1 | $0 |
Linda Sehrt Secretary | Trustee | 1 | $0 |
Kevin Wilson Treasurer | Trustee | 1 | $0 |
Harold Albin 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 | $2,590,046 |
| Investment income | $209,946 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $13,920 |
| 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 | $2,813,912 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $2,500 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $129,206 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $687,313 |
| Pension plan accruals and contributions | $15,571 |
| Other employee benefits | $79,482 |
| Payroll taxes | $57,322 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $22,618 |
| Fees for services: Accounting | $31,815 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $66,844 |
| Office expenses | $693,545 |
| Information technology | $224,648 |
| Royalties | $0 |
| Occupancy | $59,385 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,793 |
| Interest | $11,299 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $45,465 |
| Insurance | $61,589 |
| All other expenses | $1,002 |
| Total functional expenses | $2,793,010 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,253,158 |
| Savings and temporary cash investments | $20,187,970 |
| 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 | $46,710,641 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $59,649 |
| Net Land, buildings, and equipment | $702,296 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $24,246 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,005,144 |
| Total assets | $69,943,104 |
| Accounts payable and accrued expenses | $152,366 |
| 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 | $65,256,410 |
| Total liabilities | $65,408,776 |
| 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 | $4,534,328 |
| Total liabilities and net assets/fund balances | $69,943,104 |
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