Raytown-Lee's Summit Community Credit Union
- Assets
- $61.9m
- Revenue
- $3.1m
- Investments
- $24.1k
- Employees
- 24
- Location
- Raytown, MO
- Founding
- Data as of
- 12/2023
- EIN
- 44-0644887
Organization Overview
Raytown-Lee's Summit Community Credit Union is located in Raytown, MO. As of 12/2023, Raytown-Lee's Summit Community Credit Union employed 24 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 12/2023, Raytown-Lee's Summit Community Credit Union generated $3.1m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 1.5% each year. All expenses for the organization totaled $2.8m during the year ending 12/2023. While expenses have increased by 0.7% 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
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 7,713 MEMBERS.
PROVIDES A SOURCE OF CREDIT TO MEMBERS AT A FAIR AND REASONABLE RATE OF INTEREST. AS OF DECEMBER 31, 2023, LOANS OUTSTANDING TOTALED $37,192,193, INCLUDING PARTICIPATION LOANS.
PAID DIVIDENDS ON MEMBER DEPOSITS TOTALING $47,985 FOR THE YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Wasko Chairman | Trustee | 1 | $0 |
Randall Dowell Vice Chairman | Trustee | 1 | $0 |
Linda Sehrt Secretary | Trustee | 1 | $0 |
Kevin Wilson Treasurer | Trustee | 1 | $0 |
Terry Landers Board Member | Trustee | 1 | $0 |
Harold Albin Jr 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 | $2,650,730 |
| Investment income | $401,133 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $12,772 |
| 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 | $3,064,635 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $2,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $156,659 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $687,887 |
| Pension plan accruals and contributions | $20,032 |
| Other employee benefits | $95,015 |
| Payroll taxes | $61,321 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $41,093 |
| Fees for services: Accounting | $34,571 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $72,048 |
| Office expenses | $738,480 |
| Information technology | $241,730 |
| Royalties | $0 |
| Occupancy | $58,800 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $12,049 |
| Interest | $13,409 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $40,045 |
| Insurance | $60,370 |
| All other expenses | $1,642 |
| Total functional expenses | $2,804,427 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,087,376 |
| Savings and temporary cash investments | $22,106,361 |
| 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 | $36,919,343 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $69,499 |
| Net Land, buildings, and equipment | $671,151 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $24,144 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,055,177 |
| Total assets | $61,933,051 |
| Accounts payable and accrued expenses | $217,487 |
| 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 | $57,101,598 |
| Total liabilities | $57,319,085 |
| 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 | $4,613,966 |
| Total liabilities and net assets/fund balances | $61,933,051 |